Key Facts — European Golden Visas 2026
- Spain: Golden visa terminated April 2025. No new real estate investment applications accepted.
- Portugal: Real estate route closed since October 2023. Fund investment (€500K) and job creation routes still available.
- Greece: Threshold doubled to €500,000 in Athens/Thessaloniki/islands (previously €250K). €250K remains in less popular areas.
- Ireland: Immigrant Investor Programme (IIP) closed to new applications in February 2023.
- UK: Tier 1 Investor visa closed February 2022.
- OECD trend: Investment immigration faces tightening across all developed countries — higher thresholds, stricter usage, more scrutiny
- Still available: Greece (€250-500K), Malta (€150K contribution + property), Latvia (€50K), Hungary (€250K guest investor), Montenegro
- Source: wheretoemigrate.io analysis of official government, OECD, Eurostat, and UNHCR data as of March 2026.
As of March 2026, only 5 EU countries still offer golden visas with real estate investment options: Greece (€250,000–€800,000 depending on region), Spain (€500,000, closing to new applicants July 2025), Hungary (€250,000 fund investment), Italy (€250,000 startup investment), and Latvia (€250,000 property). Portugal closed its golden visa to real estate in October 2023.
Golden visas — residency permits in exchange for investment — are being killed across Europe. Spain terminated its programme in April 2025. Portugal closed the real estate route in 2023. Ireland and the UK shut down earlier. The OECD has flagged these programmes as risks for money laundering and housing price inflation. But some routes still exist, with important caveats.
"Several European countries have become more cautious about golden visas, with some raising thresholds or restricting usage. Residency-by-real-estate-investment is more susceptible to being affected by housing issues."
— OECD International Migration Outlook 2025
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Get Your Free Verdict →Programmes That Ended or Were Severely Restricted
| Country | Programme | Status | When closed | Reason |
|---|---|---|---|---|
| Spain | Golden Visa (real estate €500K) | Terminated | April 2025 | Housing affordability concerns |
| Portugal | Golden Visa (real estate route) | Real estate closed | October 2023 | Housing crisis in Lisbon/Porto |
| Ireland | Immigrant Investor Programme | Closed | February 2023 | Integrity concerns |
| UK | Tier 1 Investor visa | Closed | February 2022 | Money laundering risk |
| Cyprus | Citizenship by Investment | Closed | November 2020 | Corruption scandal |
| Bulgaria | Investor Programme | Closed | 2022 | EU accession conditions |
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Get Your Free Verdict →What's Still Available
| Country | Minimum investment | Investment type | Residency requirement | Path to citizenship | Schengen access |
|---|---|---|---|---|---|
| Greece | €250,000-500,000 | Real estate (€500K in Athens/islands, €250K elsewhere) | Visit once to get biometrics | 7 years + language + residency | Yes |
| Portugal | €500,000 | Investment funds, job creation, cultural (NO real estate) | 7 days/year average | 5 years + A2 Portuguese | Yes |
| Malta | €100,000 contribution + property | Government contribution + rental/purchase | Must reside | Citizenship possible after 1-3 years (€600K-750K) | Yes |
| Latvia | €50,000 | Real estate (outside Riga) or company investment | Must visit once per year | 5 years permanent, 10 years citizenship | Yes |
| Hungary | €250,000 | Guest Investor Certificate (real estate fund) | Visit once to get permit | 8 years for citizenship | Yes |
| Montenegro | €450,000 (development) | Approved development projects | No minimum stay | Direct citizenship (limited) | No (EU candidate) |
| Italy | €250,000-500,000 | Innovative startup (€250K) or company (€500K) | Must reside | 10 years (5 for EU citizens) | Yes |
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Get Your Free Verdict →Alternatives to Golden Visas
For most people, golden visas are the most expensive and least efficient way to get European residency. Better options depending on your profile:
| Your profile | Better option | Cost | Where |
|---|---|---|---|
| Remote worker ($3,000+/month) | Digital Nomad visa | €0-500 application fee | Portugal, Spain, Greece, Croatia, Estonia |
| Passive income (pension, dividends) | D7 visa / Non-Lucrative | €0-500 application fee | Portugal, Spain, Italy, France |
| Skilled professional | EU Blue Card / Skilled Worker | €0-200 fee | Germany, Netherlands, all EU |
| Entrepreneur | Startup visa / Self-employment | Varies (€4,500 DAFT for Americans) | Netherlands, France, Estonia, Germany |
| Retiree | Retirement visa | Proof of pension/income | Portugal, Spain, France, Italy, Greece |
Frequently Asked Questions
Can I still get a golden visa in Europe in 2026?
Yes, but options have narrowed. Greece (€250-500K real estate), Portugal (€500K funds — no real estate), Malta (€150K+ contribution), Latvia (€50K), Hungary (€250K), and Montenegro still offer programmes. Spain, Ireland, UK, Cyprus, and Bulgaria have closed.
Why are countries ending golden visas?
Housing affordability (Spain, Portugal), money laundering concerns (UK, Cyprus), EU pressure, and OECD recommendations. The trend is toward tighter investment immigration across all developed countries.
What is the cheapest way to get European residency?
Latvia (€50K investment) or a Digital Nomad visa (€0-500 fee if you earn $3,000+/month remotely). The EU Blue Card requires only a job offer — no investment at all. Germany's Chancenkarte doesn't even require a job offer.
Does a golden visa give you citizenship?
Not directly. It gives residency. Citizenship requires additional years of residence (5-10 typically), language tests, and civic knowledge. Malta is the fastest at 1-3 years but costs €600-750K total. Portugal allows citizenship after 5 years with minimal residency.
How long does the entire process take from start to finish?
The total timeline depends on the pathway: Express Entry-style systems take 6-12 months from profile creation to landing. Employer-sponsored work visas take 2-6 months once you have a job offer. Family sponsorship can take 12-36 months. Factor in additional time for gathering documents (4-8 weeks), language tests (book 2-3 months ahead), and credential evaluation (4-12 weeks). Delays are common, so build in a 25-50% buffer over official processing times.
What is the minimum investment for a golden visa in 2026?
Golden visa thresholds in 2026: Portugal (EUR 500,000 in investment funds — real estate no longer qualifies), Spain (EUR 500,000 in real estate), Greece (EUR 250,000-500,000 depending on region), Italy (EUR 250,000 in a startup or EUR 2M in government bonds), Malta (EUR 600,000+ for citizenship), UAE (AED 2M property for 10-year residency). Several EU countries have restricted or eliminated golden visa programmes due to concerns about money laundering and housing market impacts.
Do golden visa holders need to live in the country?
Most golden visa programmes have minimal physical presence requirements. Portugal requires just 7 days per year. Spain has no minimum stay for visa renewal but requires 183+ days for tax residency. Greece has no minimum stay. However, to progress from golden visa to permanent residency and citizenship, most countries require 5+ years of actual residency with minimum stay requirements (typically 183+ days per year). The golden visa is often a first step, not a direct path to citizenship.
Are golden visa investments safe and recoverable?
Risk varies by investment type. Real estate investments (Greece, Spain) can appreciate or depreciate with the market and are relatively liquid. Fund investments (Portugal) are locked for the investment period (typically 5-8 years) and carry market risk. Government bond investments (Italy, Malta) are lower risk but offer minimal returns. Due diligence is essential: use regulated funds, verified real estate agents, and independent legal counsel. Some investors have lost money through fraudulent schemes targeting golden visa applicants.
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