Not so common in Europe.
Only in countries where football isn't that big like the Baltics or something like that, or tiny nations like Malta, Iceland and Luxembourg.
You won't see that in Switzerland, Sweden or even Cyprus these days.
The odd ones out are Wales and Northern Ireland I guess, where most talent that will turn pro don't play domestically but they move to England or Scotland early on.
We still see it often enough where I live. Hvidovre FC is fundamentally a semiprofessional team plays at top level, most often if your relegated as a professional team, you have one season tops to get promoted or you have to transition into a semiprofessional team, as there simply is not enough finances for it in the second best for longer then one season, many even do that immediately after relegation. Most smaller leagues only have one professional league everything below are either semiprofessional or amateur leagues.
Football is pretty damn big here, we even have a team in knock out stage in CL.