Golden visa programs in Europe have undergone significant legislative shifts in 2026, leading to increased processing times, higher price thresholds, and changes to citizenship pathways. Below is an overview of the primary European residence-by-investment options, their structural requirements, and their current standing.
Portugal
Portugal remains a primary choice for residency by investment due to its low physical presence requirement, despite recent legislative changes.
- Physical Presence: Requires a stay of 7 days per year, or 14 days every two years.
- Citizenship Pathway: A law approved in April 2026 and effective as of May 19, 2026, extended the mandatory timeline to apply for citizenship from 5 years to 10 years.
- Timeline Calculation: The 10-year clock begins only after the official residency card is issued. Due to agency backlogs (IMR delays), applicants from 2022 onwards face multi-year waiting times just to receive initial cards, extending the total path to citizenship up to 15 years from the date of initial application.
- Legal Challenges: A legal group filed a lawsuit in late 2026 contesting the retroactive application of the 10-year citizenship rule to existing applicants.
- Costs: Government issue and renewal fees stand at €6,340 per person every two years, making it one of the most expensive administrative processes in Europe (though temporary system issues have intermittently defaulted some real estate card renewals to €186).
- Dependents: Children can remain as dependents provided they remain unmarried and financially dependent.
Malta
Malta’s Permanent Residence Programme (MPRP) provides direct permanent residency without requiring a physical stay, though it does not provide an automatic, low-presence pathway to citizenship.
- Investment Requirements:
- Lease Option: Minimum annual rent of €14,000 (€1,166/month) plus a €60,000 administrative fee and a €37,000 government contribution. Total baseline entry cost for a family of four is approximately €160,000–€170,000.
- Purchase Option: Minimum real estate acquisition of €375,000.
- Renewals: Initial card is issued for 5 years, with ongoing annual administrative renewal costs of approximately €100 per year (€500 per person at the 5-year renewal mark).
- Generational Transfer: Permanent residency status is granted for life and can be passed down continuously to future generations.
- Dependents: Allows inclusion of parents, grandparents, and adult children up to the age of 29. Dependents retain their status upon renewal even after passing the initial age threshold.
Greece
Greece maintains active real estate options, though structural tax and cost adjustments have raised entry barriers.
- Real Estate & Financial Routes:
- Requires real estate acquisition or a bank fixed-deposit of €500,000 (with commercial-to-residential property conversions remaining accessible at €250,000 in select areas).
- Real estate closing costs have increased from 3% to 15% of the property value.
- Residency & Citizenship: Grants a 5-year renewable permanent residency permit. It does not lead to citizenship unless the holder physically resides in Greece for at least 6 months per year over a 7-year period.
- Taxation: Features a flat non-domiciled tax rate capped at €100,000 per year.
- Dependent Restrictions: Child dependents are only covered up to the age of 21, at which point their residency status is automatically revoked regardless of marital or financial status.
Hungary
The updated “Guest Investor” program replaced direct real estate ownership with fund-based requirements.
- Investment Structure: Requires a €250,000 investment into an approved real estate investment fund. Direct residential real estate acquisition is not eligible.
- Permit Duration: Issues a 10-year residency permit, renewable once for an additional 10 years, capped at a maximum of 20 years.
- Payment Terms: Capital contributions are required only after the application receives preliminary approval.
- Dependents: Includes parents and adult dependent children for the full 10-year duration.
Italy
Italy provides a high-speed residence program focused on capital investments with post-approval funding rules.
- Investment & Processing: Processing times average 45 to 60 days. The required capital contribution must be transferred only after official approval.
- Taxation: Italy offers a flat-rate lump-sum tax regime for high-net-worth individuals relocating to the country, priced at €300,000 per year.
Latvia
Latvia’s residence options have been significantly narrowed due to program closures.
- Program Changes: Latvia closed its long-standing real estate acquisition and bank deposit routes to most international applicants.
- Remaining Options:
- Business Equity Route: Requires a €50,000 capital contribution into a Latvian business (or €100,000 for larger corporations) plus a €10,000 government fee. Permits under this route have been shortened from 5 years to 2 years. Rejection rates under this route remain higher due to rigorous source-of-funds vetting and strict compliance checks regarding corporate tax liabilities.
- State Investment Fund Route: A proposed option requiring €150,000 held for 5 years in a state-run fund to secure a 5-year permit.
- Dependents: Child dependents are restricted to a maximum age of 18.
