European residency by investment programs can provide Schengen Area access, but the main options differ sharply by investment type, processing speed, permit validity, family inclusion, and residence requirements. In 2026, Greece, Portugal, Malta, Italy, and Hungary remain leading choices for investors seeking European residence with visa-free travel across the Schengen Area.
All of these programs allow travel to other Schengen countries for up to 90 days in any 180-day period. Most do not require investors to live permanently in the country to maintain status, and family members can usually be included without increasing the minimum investment requirement.
Main European Residency By Investment Options
The main programs compared are:
- Greece.
- Portugal.
- Malta.
- Italy.
- Hungary.
Each program offers Schengen access, but the investment structure differs:
- Greece focuses mainly on real estate.
- Portugal now focuses mainly on investment funds.
- Malta uses a combined model involving real estate, government contribution, and donation.
- Italy offers investment routes through startups, company shares, government bonds, and donations.
- Hungary focuses on real estate funds and donations.
Greece Residency By Investment
Greece remains one of the most accessible European residency by investment options, with real estate routes starting from €250,000 in specific categories.
Investment Options
The main route is real estate investment.
Current thresholds include:
- €400,000: purchase of a single property with a minimum area of 120 sqm in most regions of Greece.
- €800,000: property in Athens, Thessaloniki, and islands with a population above 3,100 residents.
- €250,000: properties changing use classification, such as commercial-to-residential conversions, and historical buildings subject to restoration.
Commercial-to-residential projects usually involve former offices or hotels converted into modern residential complexes. Renovation is handled by the developer and may include building modernization, modern materials, energy-efficient systems, and finished apartments comparable to new developments.
Properties under the €250,000 conversion route may be of any size and located in any region. In practice, many are located in Athens and Attica, allowing investors to enter the program at the minimum threshold in high-demand areas.
Alternative options are also available, including:
- Long-term leases of tourist accommodation for at least 10 years.
- Bank deposits.
- Investments in Greek companies or closed-end funds.
- Government bonds.
- Mutual funds.
Advantages
Greece offers:
- Five-year residence permit.
- Indefinite renewal if the investment is maintained.
- No requirement to permanently live in Greece.
- Schengen Area travel.
- Potential income from long-term rentals.
- Access to healthcare and education on the same basis as EU residents.
- Access to Greece’s Non-Dom tax regime with fixed taxation on worldwide income.
Timeline
Processing usually takes about 4–6 months.
The residence permit is issued immediately for 5 years and can be renewed indefinitely if the investment is retained.
Permanent residency may be obtained after 5 years. Citizenship may be possible after 7 years of residence in Greece, subject to language and integration requirements.
Family Inclusion
Family members can receive Greek residency under the same conditions as the main applicant without additional investment.
Eligible family members include:
- Spouse.
- Children up to 21 years old.
- Parents of both the investor and spouse.
Portugal Residency By Investment
Portugal’s Golden Visa has shifted away from residential real estate and now focuses mainly on funds and business-related options.
Investment Options
The main route is an investment of at least €500,000 into Portuguese investment or venture capital funds.
At least 60% of the fund’s capital must be invested in Portuguese companies.
Investments generally need to be maintained for at least 6 years to preserve residency status.
Alternative options include:
- Non-refundable contributions from €250,000 into cultural or scientific projects.
- Business investments that create jobs in Portugal.
Advantages
Portugal offers:
- Schengen Area travel.
- Right to live, study, and conduct business in an EU country.
- Access to European banking and financial systems.
- Opportunity to study at European educational institutions.
- No requirement for permanent physical residence to maintain status.
- Potential path to Portuguese citizenship after about 7–10 years.
Timeline
Processing usually takes from 18 months, including document submission and biometrics.
The initial residence permit is issued for 2 years, with renewal options available.
Citizenship applications may be submitted after 7–10 years, subject to residency requirements and maintenance of investments.
Family Inclusion
Portugal allows family inclusion without additional investment.
Eligible family members include:
- Spouse.
- Children under 18.
- Financially dependent children up to 26 years old who are enrolled in education.
- Parents financially dependent on the main applicant.
Malta Permanent Residency
Malta offers permanent residency through a combined investment structure involving a government contribution, donation, and real estate component.
Investment Options
The program has two main structures.
Rental option from €169,000, including:
- Lease agreement for at least 5 years.
- €60,000 administrative fee.
- €37,000 government contribution for the main applicant.
- €7,500 for each dependent.
- €2,000 donation to a registered NGO.
Property purchase option from €474,000, including:
- Minimum property value from €375,000.
- €60,000 administrative fee.
- €37,000 government contribution for the main applicant.
- €7,500 for each dependent.
- €2,000 charitable donation.
Applicants must also show ownership of assets worth at least €500,000.
After 5 years, residents may purchase or rent property at lower values than the original program thresholds.
Advantages
Malta offers:
- Permanent EU residency status.
- No requirement to live in Malta.
- Right to live, work, study, and conduct business in Malta.
- Schengen Area travel.
- Favorable tax system where only Malta-sourced income is taxable.
Timeline
Application review generally takes from 9 months.
Permanent residency status is indefinite, but residence cards must be renewed every 5 years.
Family Inclusion
Malta is one of the more flexible European programs for multi-generation family inclusion.
Eligible family members include:
- Spouse.
- Children under 18.
- Adult children who are financially dependent and unmarried.
- Parents and grandparents, if financial dependency is demonstrated.
Italy Residency By Investment
Italy’s investor visa is separate from real estate investment. Property purchases do not qualify applicants for the program.
Investment Options
Italy offers several qualifying investment routes:
- From €500,000 into shares of Italian companies.
- From €250,000 into innovative startups.
- €1,000,000 non-refundable donation to projects of public interest, such as culture, education, or science.
- From €2,000,000 into Italian government bonds.
Investments must be completed within 3 months of entering Italy on a category D visa.
Residency remains valid if the investment is maintained.
Advantages
Italy offers:
- European residency.
- Right to live, work, study, and conduct business in Italy.
- Access to Italian and EU banking services.
- No permanent residence requirement.
- Schengen Area travel for personal and business purposes.
- Potential citizenship route after 10 years, subject to naturalisation requirements.
Timeline
Application review generally takes from 3 months after document submission.
The initial residence permit is issued for 2 years and may be renewed for an additional 3 years if investments are maintained.
Family Inclusion
Eligible family members include:
- Spouse.
- Children under 18.
- Parents over 65 years old of the investor or spouse.
Hungary Residency By Investment
Hungary stands out because it issues a residence permit immediately for 10 years, reducing renewal frequency compared with other programs.
Investment Options
Hungary offers:
- From €250,000 into regulator-approved real estate funds, with a minimum holding period of 5 years.
- From €1,000,000 as a non-refundable donation to educational or scientific institutions.
Investments are transferred through a bank account, and personal presence in Hungary is generally required.
Investments must be completed after obtaining the investor visa and maintained for residency renewal.
Advantages
Hungary offers:
- Right to live, work, and study in Hungary.
- Access to Hungary’s banking system and wider European financial infrastructure.
- No obligation to permanently live in the country.
- Schengen Area travel.
- Tax environment with 9% corporate tax and 15% personal income tax.
Timeline
Processing generally takes from 4 months.
The residence permit is issued immediately for 10 years, with renewal possible if the investment is maintained.
Citizenship applications may be submitted after 8 years, subject to naturalisation requirements.
Family Inclusion
Eligible family members include:
- Spouse.
- Children under 18, included automatically.
- Children over 18 if financially dependent and unmarried.
Key 2026 Program Changes And Differences
Several European programs have changed or tightened their rules.
Greece increased minimum investment thresholds in high-demand regions and added requirements for qualifying properties. However, entry from €250,000 remains available through renovated properties and heritage buildings.
Portugal removed residential real estate investment from its Golden Visa program. The program now focuses mainly on funds and business investments while keeping minimal stay requirements.
Malta strengthened due diligence and source-of-funds verification in line with EU regulatory standards.
Italy’s investor visa is fully separated from real estate investment. Property purchases no longer qualify, and the citizenship timeline remains relatively long at around 10 years.
Cyprus also offers permanent residency by investment, but it does not currently provide visa-free access to the Schengen Area. Cyprus is actively pursuing Schengen membership.
Program Comparison
| Country | Investment type | Minimum investment | Processing time | Permit validity | Residence requirement | Family inclusion |
|---|---|---|---|---|---|---|
| Greece | Real estate | €250,000 | From 4 months | 5 years | None | Spouse, children, parents |
| Portugal | Funds | €500,000 | From 18 months | 2 years | Minimal | Spouse, children, parents |
| Malta | Real estate, donation, contribution | €169,000 | From 9 months | Permanent | None | Spouse, children, parents, grandparents |
| Italy | Funds, business, bonds | €250,000 | From 3 months | 2 years | None | Spouse, children, parents |
| Hungary | Funds and donation | €250,000 | From 4 months | 10 years | None | Spouse, children |
Choosing The Right Program
The best residency by investment program depends on the investor’s priorities.
If Speed Is The Priority
Greece is typically the strongest option for speed. Processing usually takes about 4–6 months, and the real estate investment structure is relatively straightforward.
If Long Initial Permit Validity Matters Most
Hungary stands out because it issues a 10-year residence permit immediately, reducing administrative burden and renewal frequency.
If Investment Flexibility Is Important
Italy offers several investment routes, including startups, company shares, government bonds, and charitable donations. This allows investors to choose a route that fits different financial strategies.
If Family Inclusion Is The Main Priority
Malta is one of the strongest options for family inclusion. It grants permanent residency and allows a broad range of relatives to be included.
Practical Takeaway
European residency by investment programs can provide Schengen access and long-term residence options, but they are not interchangeable.
Greece may suit investors seeking real estate exposure, a lower entry point, and a relatively fast process. Portugal may suit those comfortable with funds and a longer timeline. Malta is strong for permanent residence and extended family inclusion. Italy offers broad investment flexibility but a longer citizenship path. Hungary offers a long 10-year permit with no permanent residence requirement.
The right choice depends on budget, preferred investment type, processing speed, family structure, tax planning, and whether the investor wants real estate, funds, permanent residence, or a longer-term citizenship route.
Source article: www.astons.com
