Malaysia, Vietnam, Thailand, Indonesia, Greece, Portugal, Spain, and Malta Roll Out Golden Visa Schemes to Attract Global Talent and Investors, Fueling Tourism Growth – Travel And Tour World

Malaysia, Vietnam, Thailand, Indonesia, Greece, Portugal, Spain, and Malta have launched golden visa schemes designed to attract global talent and investors, with the aim of boosting their economies and fueling significant tourism growth. These initiatives offer long-term residency to individuals who invest in key sectors such as real estate, business, and technology, bringing in foreign capital and expertise. By drawing high-net-worth individuals and skilled professionals, these countries aim to diversify their economies, create job opportunities, and strengthen their global competitiveness.

In addition to stimulating economic growth, these visa programs are expected to have a direct impact on tourism. As these nations attract more international investors, the tourism infrastructure will grow, creating more opportunities for travelers to experience these destinations. This influx of global talent and investment is set to enhance the countries’ appeal as travel hubs, thus contributing to the long-term sustainability of their tourism industries.

The Vietnam Tourism Advisory Board has proposed a three-tier golden visa system to the government, which is expected to cater to different types of individuals. According to the proposal, the first tier is the golden visa, which will allow holders to stay in Vietnam for five to ten years, with the option to extend their stay for an even longer period. The second tier, the investor visa, will be valid for ten years and offers the possibility of applying for permanent residency after five years. Lastly, the third option is the talent visa, aimed at professionals in specific fields. This visa will last for five years and is designed to be easily renewable.

Though the specific eligibility criteria for each visa tier have not yet been disclosed, the Vietnamese government has made it clear that the entire application process will be fully digital, providing a streamlined experience that eliminates the need for in-person embassy visits. This move is expected to simplify the paperwork for applicants and make the process more efficient.

Golden visa programs have become a popular method for countries to attract high-net-worth investors and skilled professionals, both of whom can contribute significantly to the local economy. Vietnam’s fast-growing economy makes it an attractive destination for such individuals. Over the past few decades, the country has transformed from one of the world’s poorest nations into a middle-income economy. According to the World Bank, Vietnam aspires to reach high-income status by 2045, and the golden visa program is part of the broader effort to bolster its economic growth and competitiveness on the global stage.

The Vietnam Tourism Advisory Board also recommended piloting the program in key cities that already see millions of international tourists. Cities like Phu Quoc, Ho Chi Minh City, Hanoi, and Da Nang are expected to be the initial testing grounds for the program before it is rolled out nationwide. These cities are popular among both tourists and business travelers, making them ideal locations for the pilot phase.

The introduction of these new visa options is also a part of Vietnam’s broader strategy to boost tourism. The country has set an ambitious target of welcoming 23 million international visitors by the end of 2025, building on the 17.6 million visitors it hosted in 2024. This goal reflects the nation’s growing appeal as a tourist destination and underscores its efforts to diversify and expand its tourism offerings.

Vietnam’s new golden visa program adds to a growing trend of long-term residency programs being introduced across Southeast Asia. Countries such as Thailand, Indonesia, and Malaysia already offer similar long-term visa options for visitors seeking to stay in the region for extended periods, with some programs offering stays of ten years or more.

While long-term residency programs are on the rise in Southeast Asia, they are being phased out in some parts of Europe. Notably, Malta recently ended its golden passport program, which granted EU citizenship in exchange for investments exceeding 525,000 euros. Spain also shut down its golden visa program in early April, which had allowed applicants to obtain residency by investing in real estate worth 500,000 euros. These closures highlight the shift in focus from Europe’s once-popular golden visa schemes to other regions like Southeast Asia, where such programs continue to gain traction.

In Europe, countries like Greece and Portugal still offer residency programs for investors, although they have become more stringent in recent years. These programs now require higher investments and impose stricter guidelines regarding the types of real estate that can be purchased.

Malaysia, Vietnam, Thailand, Indonesia, Greece, Portugal, Spain, and Malta have introduced golden visa schemes to attract global talent and investors, aiming to boost their economies and fuel significant growth in the tourism sector by enhancing infrastructure and creating new opportunities.

As Vietnam prepares to roll out its new golden visa program, the country is positioning itself as an attractive destination for those seeking long-term residency in a rapidly developing economy. With a focus on attracting skilled professionals, investors, and tourists, Vietnam’s new initiative reflects the country’s growing role in the global economic and tourism landscape.