Golden Visa programs, once a boon, lose their luster omanobserver.om - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from omanobserver.om Daily Mail and Mail on Sunday newspapers.
In an effort to close huge budget deficits, six eurozone nations granted the visas in 2012, during the height of Europe s fiscal crisis. Spain, Ireland, Portugal, and Greece were among the nations in need of international bailouts. These nations were in particular short of cash to pay back creditors and saw an opportunity to attract investors while reviving their stagnant real estate markets.