European Golden Visa Programs Which Countries Offer Residency by Investment

Eight European countries still offer a European Golden Visa in 2026, and they remain the main route for non-EU investors seeking Residency by Investment and access to the Schengen Area. The market is smaller than before, but it is still active, with thresholds ranging from €50,000 to over €2 million and processing times that run from 2-3 months in faster cases to over two years in slower ones.

The big picture is clear. Spain ended its program in April 2025, the UK closed its investor visa in 2022, and Ireland shut its scheme in 2023. Portugal and Hungary also removed direct real estate routes, pushing applicants toward funds and other non-property options. That shift reflects growing EU pressure over money laundering, housing prices, and the political sensitivity of selling residency rights.

The 2026 map of active programs

Portugal, Greece, Hungary, Italy, Cyprus, Malta, Bulgaria, and Latvia are the active choices in 2026. Each country sells a different mix of speed, cost, and long-term status. Some focus on funds. Others still allow property. A few now favor donations, shares, or startup capital instead of homes.

Portugal remains the best-known option. Its Golden Residence Permit has drawn more than €7.3 billion since 2012 and has issued residency to 17,700 main applicants and 42,600 dependents. The old real estate path is gone. Today, the main route is a €250,000-€500,000 investment in regulated venture capital or private equity funds tied to sectors such as technology, renewable energy, agriculture, or tourism.

Hold the investment for five years, keep a clean criminal record, and show lawful source of funds. No minimum stay is required, but the residency card renews over time, and citizenship is possible after six years with modest physical presence and A2 Portuguese.

Greece still draws property buyers, but the rules are tighter. The base level is €250,000 for conversions, restorations, or listed properties, while higher prices apply in hotspots: €800,000 in Athens and islands, and €400,000-€700,000 elsewhere. Greece also offers alternatives through hotel leases, bonds, deposits, equities, and a startup route.

New 2026 rules ban short-term rentals on golden visa homes, with €50,000 fines and permit revocation for violations.

Hungary relaunched its Guest Investor Residence Permit in July 2024. The main route is €250,000 in National Bank-approved real estate funds, or a €1 million donation to a public university. The permit lasts 10 years and is renewable. Processing is fast, usually 2-3 months, which gives Hungary an edge for investors who want quick entry into central Europe.

Italy takes a different path. Its Investor Visa begins at €250,000 for innovative startups, then rises to €500,000 for company shares, €1 million for philanthropy, and €2 million for government bonds. That makes Italy one of the most flexible Residency by Investment systems in Europe, especially for entrepreneurs who want to avoid real estate risk.

Cyprus offers lifelong residency through €300,000 in property or company shares. Malta’s Permanent Residence Programme starts at €182,000+ once property contributions and fees are included. Bulgaria stands out because €512,000 in approved funds can lead to immediate permanent residency. Latvia has the lowest entry point, with options from €50,000 to €250,000.

How the application journey works

The process usually starts online or through a government portal. Applicants submit passport details, proof of investment funds, health insurance, and clean police records. Authorities then carry out due diligence checks to confirm where the money came from and whether the applicant meets the rules.

That review matters. It protects the program, but it also slows the file. Portugal and Greece face the longest backlogs. Hungary and Cyprus move faster. Bulgaria sits somewhere in the middle. Investors should plan for document requests, bank checks, translations, and legal filings before approval arrives.

Once approved, the applicant must keep the investment in place for the required period, usually five to 10 years. Many programs also allow family inclusion, including spouses and children under 25. That family route remains one of the strongest selling points of a European Golden Visa, especially for households that want one legal status to cover schooling, relocation, and travel.

According to analysis by VisaVerge.com, the strongest programs in 2026 are no longer the cheapest ones alone. They are the ones that balance speed, legal stability, and future citizenship potential.

What applicants gain after approval

The first reward is mobility. Residency in one participating state gives access to the Schengen Area, which covers 27 countries for border-free travel. That matters for business meetings, school visits, family trips, and second-home planning.

The second reward is legal footing. Holders gain the right to live in the issuing country and, in many cases, a path to permanent residency. Portugal and Greece offer citizenship routes after several years. Italy, Hungary, and others have longer or less certain paths. The timeline depends on how much presence the applicant keeps in the country and how each state counts residency toward citizenship.

The third reward is portfolio choice. Some investors want property. Others prefer funds, startup exposure, or government bonds. Portugal’s fund route, for example, appeals to people seeking passive investment exposure. Greece still appeals to buyers who want real estate income. Latvia and Hungary attract cost-conscious applicants. Cyprus and Malta draw families who want relatively simple entry rules.

Costs, delays, and the pressure from Brussels

The minimum investment is only part of the bill. Legal fees, tax advice, filing charges, and due diligence often add 10% to 20% to the total. In some countries, that means an extra €20,000 to €100,000. Applicants also need to think about tax exposure in their home country and in the country where they gain residency.

The political mood in Brussels is less friendly than it once was. EU officials have repeatedly questioned whether golden visa schemes weaken oversight, push up housing prices, or create weak spots in the system. That pressure already helped end or reshape several programs. Romania shelved a proposed plan in late 2025, and the Netherlands has also stepped away from the model.

ETIAS adds another layer. The travel pre-screening system is due to launch late 2026, with mandatory use later. For golden visa holders and frequent travelers, that means the wider European environment is becoming more controlled, not less. Even lawful residency no longer feels as simple as it once did.

Choosing the right route in 2026

Speed points to Cyprus and Hungary. Lower entry costs point to Latvia and Malta. The fastest permanent residency route sits with Bulgaria. Portugal remains the strongest long-term brand. Greece still attracts buyers who want real estate and Mediterranean living, but the new rental ban changes the calculation. Italy suits investors who want flexibility across startups, shares, philanthropy, and bonds.

For many families, the main question is not which program is cheapest. It is which program gives the cleanest route to settlement, travel freedom, and a future passport. In 2026, the answer depends on patience, capital structure, and the level of political risk an investor is willing to accept.