{"id":2096,"title":"Explore Golden Visa Options in Europe: Cost, Requirements, and What to Compare","slug":"explore-golden-visa-options-in-europe-cost-requirements-and-what-to-compare","lang":"en","description":"Are you considering a pathway to European residency through investment but unsure which program may align with your goals? Golden Visa programs differ widely in their investment routes, total costs, family rules, physical presence requirements, and long-term conditions. This guide compares several notable European residency-by-investment options and explains what to review before making any financial or immigration decision.","content":"

Program information in this guide was reviewed through July 2026 and may change.

What Is a Golden Visa Program?

Golden Visa is a commonly used term for programs that allow non-EU nationals to apply for residency after completing a qualifying investment and meeting other eligibility requirements.

Depending on the country and program, eligible applicants may be able to:

Reside in the country that issues the permit.
Include a spouse, children, or certain dependent relatives.
Work, study, or operate a business under national rules.
Travel within the Schengen Area for short stays, subject to applicable conditions.
Renew the permit if the investment and other requirements continue to be met.

A Golden Visa is not the same as EU citizenship. A residence permit issued by one country also does not automatically provide the right to live or work long term in every EU member state.

Making a qualifying investment does not guarantee approval, investment returns, permanent residence, or citizenship.

Overview of European Golden Visa Options

Golden Visa programs across Europe differ in how applicants invest, what rights they receive, and which requirements they must maintain. The overview below compares several notable options and includes Spain to clarify the status of its former investor route.

Country	Main investment route	What to check
Portugal	Funds, research, cultural activities, business investment, or qualifying job creation	Direct real estate purchases are no longer a qualifying route
Greece	Real estate investment	Thresholds depend on location and property type
Italy	Government bonds, companies, innovative startups, or donations	The investment must be completed within the required period
Hungary	Qualifying real estate funds or an eligible educational contribution	Fund eligibility, source of funds, and holding requirements
Malta	Property, government contributions, donations, and administrative fees	This is a permanent residence program, not a citizenship entitlement
Spain	Former investor residency route	Closed to new investor applications, with transitional rules for certain earlier cases

Portugal Golden Visa: Non-Property Investment Routes

Portugal’s Autorização de Residência para Investimento, commonly known as the ARI or Portugal Golden Visa program, continues to provide application and renewal procedures for qualifying investors and eligible family members.

However, purchasing real estate for €500,000 is no longer a qualifying Golden Visa route, even though this option still appears in many older articles and promotional pages.

Current qualifying routes may include certain investments connected with:

Eligible investment funds.
Scientific or technological research.
Cultural production or heritage preservation.
Business investment and qualifying job creation.

Specific investment amounts, fund eligibility, holding periods, and documentation requirements must be checked before transferring funds.

The Portugal Golden Visa may allow qualifying permit holders to live and work in Portugal, apply for family reunification, and travel within the Schengen Area under applicable rules. Permanent residence and citizenship remain separate legal processes with their own requirements.

Greece Golden Visa: Property Thresholds and Requirements

Greece continues to offer a permanent residence permit for investors, with real estate remaining one of the main qualifying routes.

Depending on the location and property category, the required investment may be:

€800,000 in certain high-demand areas.
€400,000 in many other locations.
€250,000 in certain special cases, such as qualifying conversions into residential use or the restoration of protected buildings.

Additional conditions may relate to the property’s location, size, classification, and permitted use. The €250,000 threshold should therefore not be presented as a standard amount that applies throughout Greece.

In addition to the purchase price, investors should account for taxes, notary fees, registration costs, insurance, legal support, property management expenses, and potential resale limitations.

Italy Investor Visa: Business and Financial Investment Options

The Investor Visa for Italy offers qualifying non-EU nationals several alternatives to a property purchase.

Published investment or contribution options include:

€2 million in Italian government bonds.
€500,000 in an Italian limited company.
€250,000 in an innovative Italian startup.
€1 million as a qualifying philanthropic donation.

Applicants must first obtain a Nulla Osta before applying for the visa. After entering Italy, the qualifying investment or donation must generally be completed within three months.

The initial residence permit is normally valid for two years and may be considered for renewal if the investment continues to be maintained.

This route may be relevant to people researching business, startup, bond, or donation-based residency options. However, investments in companies, startups, and financial assets can lose value and should be assessed independently from the immigration benefits.

Hungary Guest Investor Permit: Fund and Contribution Routes

Hungary currently offers a guest investor residence permit for eligible third-country nationals.

The main published routes include:

Purchasing units in a qualifying real estate fund for at least €250,000.
Making a contribution of at least €1 million to an eligible higher education institution.

Applicants may need to provide evidence of:

Completion of the qualifying investment.
Lawful source of funds.
Suitable accommodation.
Health coverage.
Required identity and background documentation.

The minimum investment does not include every possible cost. Fund management fees, professional fees, permit charges, and other expenses may apply separately.

Investors should also review how long the fund units must be held, whether they can be transferred, and what happens if the fund no longer meets program requirements.

Malta Permanent Residence: Property, Contributions, and Due Diligence

The Malta Permanent Residence Programme, or MPRP, is a permanent residency-by-investment program for nationals from outside the EU, EEA, and Switzerland.

The program generally includes several cost components:

Qualifying property.
A government contribution.
A charitable donation.
Administrative and processing fees.

Applications must be submitted through a licensed agent and are subject to a multi-stage due diligence process.

Reviews may apply to:

The principal applicant.
Dependent family members.
Financial sponsors.
The source and movement of funds.
Certain related business interests.

The MPRP provides permanent resident status to applicants who satisfy the conditions. It should not be described as a direct route to purchase Maltese citizenship or an EU passport.

Applicants should also distinguish between money committed to property and non-refundable contributions or fees.

Spain Golden Visa: Closed to New Investor Applications

Spain no longer accepts new Golden Visa applications under its former investor residency framework.

The previous route included property and other investment-based options, but the legal provisions governing new investor visas and residence permits have been removed.

Certain applications submitted before the closure and permits issued under the previous rules may continue to be handled under transitional provisions.

Spain is included in this guide because it remains a widely searched Golden Visa program. However, it should be presented as closed to new investor applications rather than as a currently available option.

How Much Does a Golden Visa Cost?

Amounts such as €250,000 or €500,000 generally refer only to the qualifying investment. They do not necessarily represent the applicant’s full required budget.

Additional Golden Visa costs may include:

Application and processing fees.
Residence permit issuance and renewal fees.
Charges for dependent family members.
Legal or licensed agent fees.
Property purchase and ownership taxes.
Notary and registration costs.
Translation and document certification.
Fund management or business maintenance expenses.
Health insurance.
Non-refundable government contributions or donations.

Two Golden Visa programs with the same minimum investment may still have very different total costs, capital recovery prospects, and financial risks.

What to Consider Before Choosing a Golden Visa Program

A lower investment threshold does not necessarily mean a program is more suitable.

Choosing without sufficient research may lead to:

Unexpected costs.
An investment that is difficult to sell or redeem.
Physical presence requirements that conflict with work or travel plans.
Family members failing to meet dependency rules.
New tax or asset-reporting obligations.
Renewal problems if the investment no longer qualifies.
Confusion between temporary residence, permanent residence, and citizenship.
Reliance on outdated information about a program that has changed or closed.

An investment that qualifies for immigration purposes is not automatically a suitable financial investment.

What to Compare Before Choosing a Golden Visa

Is the program accepting new applications?

Check current information published by the immigration authority, program administrator, or official legislation.

What is the total cost?

Separate potentially recoverable investment capital from taxes, government fees, donations, and other non-refundable expenses.

How long must the investment be maintained?

Review holding periods, transfer restrictions, and what happens if the asset stops meeting the program conditions.

Can family members be included?

Confirm age limits for children, conditions for adult dependants, eligibility for dependent parents, and the spouse’s work rights.

What are the long-term requirements?

The rules for maintaining a Golden Visa may differ from those for permanent residence or citizenship. Physical presence, language, integration, and tax requirements should be reviewed separately.

Comparing Golden Visa Routes by Residency Goal

Researching property-based routes:
The Greece Golden Visa and Malta Permanent Residence Programme may be useful starting points for further research. Total costs, property requirements, and ongoing obligations should be reviewed separately.

Avoiding a property purchase:
Portugal, Italy, and Hungary provide qualifying routes that do not rely entirely on buying real estate. Each option still involves different financial risks and holding requirements.

Including family members:
Compare the rules for dependants rather than focusing only on the rights of the principal applicant.

Avoiding full-time relocation:
Review the physical presence rules for maintaining the permit and distinguish them from the conditions for permanent residence or citizenship.

Interested in an EU passport:
Citizenship should be treated as a separate legal process. A Golden Visa does not automatically convert into citizenship after a fixed period.

Checklist Before Making a Decision

Is the program still accepting new applications?
Does the proposed investment remain eligible?
What is the total amount of non-refundable costs?
How long must the investment be maintained?
Is there a minimum physical presence requirement?
Can a spouse, children, or dependent parents be included?
Can dependent family members work or study?
Could the arrangement create new tax obligations?
Is the investment exposed to loss or limited liquidity?
Is the lawyer, agent, or fund properly licensed?

Frequently Asked Questions

Does a Golden Visa guarantee residency approval?

No. Applicants must still meet requirements relating to the investment, source of funds, background checks, documentation, and due diligence.

Is a Golden Visa the same as EU citizenship?

No. A Golden Visa normally provides a visa or residence permit. Permanent residence and citizenship are separate legal statuses with their own conditions.

Is purchasing real estate always required?

No. Some programs accept qualifying funds, companies, government bonds, research activities, job creation, or contributions instead of direct property purchases.

Does the minimum investment include every cost?

Usually not. Government fees, taxes, legal costs, insurance, fund charges, and fees for dependent family members may apply separately.

Which country has the lowest Golden Visa price?

There is no single price that can be compared without considering the investment type, location, non-refundable fees, family size, holding period, and total program cost. The lowest advertised threshold may also apply only to limited property or investment categories.

Conclusion

European Golden Visa and residency-by-investment programs differ in their qualifying investments, total costs, physical presence requirements, holding periods, and family rights.

No single Golden Visa program is suitable for every applicant. A shortlist should be based on residency goals, available budget, family plans, potential tax implications, and the ability to accept investment risk—not only on the advertised minimum investment.

Review the conditions carefully, compare the available routes, and verify official information before making any investment.

Disclaimer

This content provides general information only and does not constitute legal, tax, immigration, or investment advice. Program availability, qualifying investments, fees, processing times, and eligibility requirements may change. Making an investment does not guarantee application approval, investment returns, permanent residence, or citizenship. Readers should verify information with the relevant authorities and obtain independent advice suited to their circumstances.

References

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