Compare · 2026 · Updated 2026-07-16
Golden Visa Comparison
The cheapest mainstream golden visa now starts at about €250,000 — in Italy, Greece, Portugal or Hungary (Latvia goes lower, from about €50,000, via a riskier business route). Spain's closed. The UAE is cheap and tax-free but never leads to a passport. This is the honest side-by-side: what each one really costs, how long you must stay, how long to citizenship, and whether you get your money back — with the closed programmes and the traps flagged, not hidden.
The programmes side by side
| Country | Status | From | Real estate? | Min stay | Citizenship | Money back? |
|---|---|---|---|---|---|---|
| Portugal | Open | €250,000cultural donation · €500k fund | No (ended 2023) | ~7 days/yr | ~10 years | Fund yes · donation no |
| Greece | Open | €250,000conversion · €400k–€800k property | Yes | None | 7 years | Yes (asset) |
| Italy | Open | €250,000startup · invest after approval | No | None | ~10 years | Most routes (not the €1M gift) |
| Hungary | Open | €250,000real-estate fund (5-yr) | Via fund | None | ~10 years | Fund yes |
| Spain | Closed | —ended 3 April 2025 | — | — | — | — |
| UAE (Dubai) | Residence only | ~AED 2m≈ €500k, or no-investment routes | Yes | None | No path | Property yes |
Entry figures are the lowest qualifying amount, not the all-in cost. Citizenship periods are counted from residence, and low or no physical presence slows the clock; Portugal's is seven years for Portuguese-speaking (CPLP) nationals and ten for everyone else. Run the real numbers with our Portugal, Greece and Italy calculators.
Which is right for you?
Cheapest active route
Italy's €250,000 startup route or Greece's €250,000 property-conversion route — both around the lowest mainstream entry, and both leave you holding an asset rather than making a gift.
Fastest to an EU passport
Greece, at seven years of residence, is the shortest of these routes to citizenship — but it, unlike the others, needs genuine physical presence to count. Portugal and Italy are ten years.
Least time in the country
Italy and Greece have no minimum-stay rule at all, and Portugal only asks for about seven days a year. If you want residency without relocating, these keep it light — just remember low presence also means slow (or no) progress toward citizenship.
Money back vs a donation
If getting your capital back matters, favour recoverable routes: Greek property, an Italian startup or bond, or a Portuguese fund. Avoid the pure donations — Portugal's €250k cultural gift and Italy's €1M philanthropic route are not recoverable.
Residency without a passport
If you want tax-friendly residence and don't need EU citizenship, the UAE Golden Visa gives ten years with no minimum stay and, often, no investment at all — but it is a dead end for a passport.
What closed and changed
Europe's golden visas are getting fewer, pricier and slower, so a comparison from even a year ago is misleading. The moves that matter now: Spain closed its programme on 3 April 2025; Portugal removed real estate in 2023 and lengthened its citizenship clock in 2026 (now counted only from when your residence card is issued); Greece raised its property thresholds to as much as €800,000 in high-demand areas in 2024; and the UAE has never offered citizenship at all.
The practical takeaway: do not choose on an old headline number. Confirm the current rule, price the all-in cost, and be clear whether you are buying residency, a path to citizenship, or both.
The programmes in brief
Portugal
Real estate is gone; the live routes are a €500,000 investment fund or a €250,000 cultural donation. Light stay requirement, family included — but the 2026 nationality law lengthened the road to a passport, and the AIMA backlog is real.
Greece
The only one of these still built on property: €250,000 for a conversion or restoration, €400,000 or €800,000 for a standard purchase. No minimum stay, and the shortest citizenship clock at seven years.
Italy
The de-risked option: from €250,000 in a startup, and you invest only after a free pre-approval, so your capital is never at stake while you wait. No minimum stay; low government fees.
Spain
Closed to new applicants since 3 April 2025. Existing holders keep and can renew their permits, but there is no new investment route — the Non-Lucrative and Digital Nomad visas are the remaining ways in.
UAE (Dubai)
A ten-year, tax-free, self-sponsored residence — often obtainable with no investment through a salary, talent or nomination route. The catch: it never leads to citizenship, which the UAE grants by nomination only.
The headline is not the whole cost
Every "from €250,000" figure hides the real bill. On top of the investment sit government fees (charged per family member), legal fees, and — for funds — subscription and management fees that compound over years. A donation is spent; a fund or property can be recovered but ties up capital and carries market risk. Before you compare programmes on their headline, compare them on their all-in cost for your family, which is exactly what our per-country calculators are for.
Get quotes from verified lawyers
Once you have a shortlist, the right lawyer makes the difference between a smooth application and a stalled one. Compare verified golden-visa lawyers in each country — ranked on credentials and reviews, never pay-to-play — and get quotes for your situation.
Frequently asked questions
What is the cheapest golden visa?
Among the mainstream European programmes, the cheapest entry is around €250,000 — Italy's innovative-startup route, Greece's property-conversion route, Portugal's cultural donation and Hungary's real-estate fund all start there. Latvia is cheaper still, from about €50,000, but through a small-business investment that carries more risk. And Caribbean citizenship-by-investment can undercut all of these — from roughly $200,000 — though that buys a passport, not EU residency, so it is a different product. If you want your money back, a recoverable route (Italy's startup, Greek property, a Hungarian or Portuguese fund) beats a donation.
What is the cheapest golden visa in Europe?
For a residency-by-investment programme that still leads to EU citizenship, the €250,000 tier in Italy, Greece and Portugal is the practical floor. Remember the headline is not the whole cost — government fees, legal fees and, for funds, management fees all add up, which our per-country calculators show.
Which golden visa is fastest to citizenship?
Of these, Greece has the shortest qualifying period at seven years, versus about ten for Portugal and Italy. But Greek citizenship requires genuine physical residence, so the seven years only count if you actually live there. The UAE Golden Visa never leads to citizenship at all.
Italy vs Portugal golden visa — which is better?
Italy is more capital-efficient and lower-risk: from €250,000, and you invest only after a free pre-approval, with no minimum stay. Portugal's fund route is €500,000 and the 2026 nationality law lengthened its citizenship timeline. Portugal has the deeper expat infrastructure and a lighter (roughly seven days a year) stay rule. If citizenship speed and cost drive the decision, Italy edges it; if lifestyle and community matter more, Portugal.
Spain vs Portugal golden visa?
There is no contest anymore: Spain closed its golden visa on 3 April 2025, so Portugal is the live choice. If you specifically wanted Spain, its Non-Lucrative and Digital Nomad visas remain, but they are income-based lifestyle visas, not investment routes.
Which golden visas have closed or changed?
Spain closed its programme in April 2025. Portugal removed the real-estate route in 2023 and lengthened its citizenship clock in 2026. The UAE never offered a citizenship path. Greece raised its property thresholds in 2024. The direction of travel across Europe is fewer, pricier and slower — which is why comparing the live options carefully matters.
Does the UAE (Dubai) golden visa lead to citizenship?
No. It is a long-term residence visa only. UAE citizenship is granted by nomination at the government's discretion, with no investor route. If an EU passport is your goal, a Portuguese, Greek or Italian golden visa is the honest comparison; if tax-free residence is enough, the UAE is hard to beat.
Can I get my investment back?
It depends on the route, not the country. Property, funds, company shares and government bonds are assets you can eventually recover (subject to market value and holding periods). Donations — Portugal's cultural route and Italy's €1 million philanthropic route — are gifts you do not get back. The comparison table above flags which is which.
Disclaimer. This guide is general information, not legal, tax, immigration or financial advice. Programme rules, thresholds and citizenship timelines are current for 2026 and change frequently — Spain's closure (Organic Law 1/2025, 3 April 2025), Portugal's 2026 nationality reform and the UAE's residence-only framework are all reflected here. Confirm the current figures and your eligibility with a licensed lawyer in the relevant country before committing funds. Last reviewed 2026-07-16.