Compare · 2026 · Updated 2026-10-14
The golden visa countries compared here are the live investor routes in Portugal, Greece, Italy and Hungary, Malta and Cyprus permanent residence and UAE long-term residence. It separates the qualifying amount from fees you cannot recover, and the stay needed to keep a permit from the residence needed for citizenship. Spain's investor route is shown for context because it closed to new applicants on 3 April 2025.
Still choosing a goal? Read our editorial guide to the best golden visa programs for who each route suits and what to ask before moving money.
Sort by minimum investment or citizenship period. Each row links to our guide for that country, where every figure is sourced, and to its lawyer directory. Scroll sideways to see every column.
| Routes | Stay to keep permit | Processing note | Family | Links | |||
|---|---|---|---|---|---|---|---|
| PortugalOpen | €250,000cultural route; may be €200,000 in a low-density area | €500,000 fund; €250,000 cultural; job creation, research and company routes. Property no longer qualifies. | 7 days in year 1, then 14 days per 2 years | 10 years for most; 7 for CPLP and EU nationals | AIMA appointments depend on case progress; no official end-to-end time | Qualifying relatives apply on the same investment; each pays their own fees | GuideLawyers |
| GreeceOpen | €250,000property conversion or startup; standard property €400,000–€800,000 | Property (€250,000 conversion; €400,000 or €800,000 purchase by area); €250,000 eligible startup | None | 7 years, with genuine residence | By law, permit within 2 months of a complete file; often exceeded | Spouse or partner, unmarried children under 21 and both spouses' parents | GuideLawyers |
| ItalyOpen | €250,000innovative startup; invest after approval | €250,000 startup; €500,000 company or venture fund; €1M donation; €2M government bonds | None for the first 5 years | About 10 years | 30-day Nulla Osta assessment; later stages are separate | Family reunification under general rules; not added to the investor visa automatically | GuideLawyers |
| HungaryOpen | €250,000registered real-estate fund, 5-year hold | €250,000 real-estate fund; €1M university-foundation donation. Direct property does not qualify. | None | About 8 years of actual residence | 21-day official decision period, excluding waiting time | Spouse or partner, minor children and dependent parents; each files separately | GuideLawyers |
| Malta (MPRP)Permanent residence | €99,000 + propertynon-refundable fees and donation | Rent from €14,000 a year or buy from €375,000, plus programme payments | No fixed day count; keep the qualifying property | Not included; separate naturalisation | Not yet covered in our guide | Spouse or partner, children under 18, some dependent adult children under 29, dependent parents and grandparents | GuideLawyers |
| CyprusPermanent residence | €300,000qualifying investment; VAT and fees extra | Property, company capital or investment funds | Permit lapses after 2 years' absence | Not included; separate naturalisation | About 2 months to examine a complete application | Covers spouse and children under 18; each adult child needs another €300,000 | GuideLawyers |
| SpainClosed | —closed to new applicants on 3 April 2025 | — | — | — | — | — | GuideLawyers |
| UAE (Dubai)Residence only | About AED 2mproperty; some categories need no investment | Property or public investment; professional, talent and student categories without investment | Not cancelled after 180 days abroad | No automatic path | Depends on the category and issuing channel | Spouse, children of any age and parents can be sponsored | GuideLawyers |
€250,000
cultural route; may be €200,000 in a low-density area
€250,000
property conversion or startup; standard property €400,000–€800,000
€250,000
innovative startup; invest after approval
€250,000
registered real-estate fund, 5-year hold
€99,000 + property
non-refundable fees and donation
€300,000
qualifying investment; VAT and fees extra
—
closed to new applicants on 3 April 2025
About AED 2m
property; some categories need no investment
Capital risk differs by route: fund units, startup shares and property can fall in value, and donations and Malta's programme payments are spent. Figures show a qualifying investment or, for Malta, non-refundable programme payments; they exclude legal fees, taxes, property costs and dependants. Malta also requires a separate capital-assets test. A low stay requirement to keep a permit does not itself meet naturalisation conditions. Portugal's new-law qualifying period is 7 years for EU and Portuguese-speaking (CPLP) nationals and 10 for most others; qualifying legal residence can include certain visas, while nationality proceedings pending when the 2026 law took effect follow the previous rules. See the nationality law. Run the real numbers with our Portugal, Greece, Italy, Cyprus and UAE calculators.
A published review target is not a promise of a residence card. Document collection, investment completion, consular appointments, biometrics and card issue can add separate stages. Published figures below start at different points, so they cannot establish a reliable fastest country.
The investor-visa committee says it issues its Nulla Osta assessment within 30 days. The consular visa, entry, investment and residence permit follow separately.
Official programme process →The Migration Department estimates approximately two months to examine a complete investor-permit application if its stated eligibility and security conditions are met.
Migration Department criteria →AIMA says ARI appointments depend on case progress, portal updates and operational availability. It does not give a dependable end-to-end completion figure in its current FAQ.
AIMA appointment FAQ →Count each person, not only the main investor. Portugal permits related family applications, but AIMA assesses documents and fees for each applicant. Italy uses its general family reunification rules rather than automatically adding every relative to an investor visa. Cyprus's expedited investor policy adds application and registration fees per person and can require a higher investment for an adult child. Malta adds qualifying property, residence-card costs and dependant eligibility to its headline programme payments. Check age and dependency, income, accommodation, insurance and document costs before comparing family quotes. See the country sources below for the exact requirements.
A permit from a Schengen country generally permits short visits to other Schengen countries for up to 90 days in 180; it is not permission to settle or work there. An investor permit also does not automatically decide tax residence. Those are separate questions for the intended destination and your current tax home. See the European Commission's travel guidance and the OECD's tax-residence guidance.
The “from” figure is an entry condition, not a quote for a family. Compare four separate things: the amount committed, non-refundable fees and donations, ongoing costs, and what must happen before you can sell or redeem an asset. The citizenship column gives the earliest general qualifying period where one is stated; approval also depends on residence, language and other legal conditions. Malta, Cyprus and the UAE are included as different residence products, not interchangeable passport routes.
The table focuses on destinations with dedicated GVL guides or calculators; it is not a complete list of investor permits. Latvia's qualifying company-investment route appears in the cheapest-route answers below, although Latvia has no row in this table.
For a golden visa in Europe, the open investor residence permits in this comparison are Portugal, Greece, Italy and Hungary. Malta and Cyprus sell permanent residence instead, and Latvia has a separate company-investment route. Spain closed its programme to new applicants on 3 April 2025. A residence permit from a Schengen country generally allows short visits to other Schengen countries, up to 90 days in any 180; it is not a right to live or work there.
The cheapest golden visa by headline threshold depends on what you count. Latvia's company route starts at €50,000 in share capital plus a one-off €10,000 state payment. Portugal's cultural route is €250,000, and may be €200,000 for a qualifying low-density project. Italy's innovative startup, Greece's property conversion or startup route and Hungary's real-estate fund also start at €250,000. Malta's programme payments total €99,000 but come on top of renting or buying qualifying property. Sort the table by minimum investment, then compare fees, taxes and what you can recover on exit with our cost calculators.
A qualifying Portuguese cultural project may require €200,000 in a low-density area; the usual threshold is €250,000. Italy's innovative-startup route, Greece's qualifying property conversion or startup route, and Hungary's fund also start at €250,000. The investment structure, fees and potential loss differ substantially, so the lowest threshold is not necessarily the cheapest route.
Greece has a seven-year lawful-residence requirement and requires genuine residence and other naturalisation conditions. Portugal also has a seven-year period for CPLP and EU nationals, but ten years for most others under the 2026 law. These are eligibility periods, not promised passport delivery times; pending Portuguese nationality proceedings may follow the prior law.
Greece and Hungary have no minimum stay, Italy exempts investors from its continuity-of-stay rules for the first five years, and Portugal asks for 7 days in the first year and 14 days in each following two-year period. A low permit stay requirement does not itself satisfy naturalisation rules: Greece and Hungary require genuine or continuous residence, while Portugal's lawful-residence clock and other conditions must be checked separately.
Compare what you own and when you can sell or redeem it. Property, shares, bonds and fund units carry market, liquidity or issuer risk; startup shares can become worthless. Italy's philanthropic gift and Malta's programme fees are spent permanently. For a Portuguese cultural contribution, ask whether the specific project gives any contractual right to recover capital rather than assuming it is refundable or non-refundable.
Malta's MPRP and Cyprus's investor immigration permit are different products from the renewable investor permits above. Malta combines non-refundable fees, a donation and qualifying property; Cyprus requires a qualifying €300,000 investment that must be maintained. Neither gives citizenship automatically.
If you want UAE long-term residence without an automatic citizenship path, the current federal ICP guide lists renewable ten-year Golden Residency categories, including some professional, talent and student routes without an investment threshold. Confirm the applicable category and issuing authority; a residence visa does not by itself decide your tax-residence position.
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 changed its usual citizenship eligibility period in 2026, with transitional protection for nationality proceedings already pending at commencement; Greece raised its property thresholds to as much as €800,000 in high-demand areas in 2024; and the UAE Golden Visa creates no citizenship entitlement, although citizenship is separately available only through a discretionary nomination process.
Property no longer qualifies. Options include a €500,000 fund, €250,000 cultural investment or support (potentially €200,000 in a qualifying low-density area), and separate job-creation, research and company-capital routes. The 2026 nationality law changed the usual eligibility period, with transitional protection for nationality proceedings already pending when it took effect.
The property route starts at €250,000 for a qualifying conversion or restoration, or €400,000/€800,000 for a standard purchase by area. Greece also has a separate €250,000 eligible-startup route with different conditions. No minimum stay keeps the property investor permit, but naturalisation after seven years requires genuine residence and other conditions.
From €250,000 in an innovative startup. A nulla osta comes before the visa application and the investment follows entry, so you need not transfer the investment before that approval. The startup can still fail after you invest. Other routes include company shares and government bonds; the stay-rule exemption applies for the first five years.
€250,000 in a registered Hungarian real-estate fund, or a €1 million donation to a university foundation. Direct property purchase does not qualify. No mandatory minimum stay for the permit, but permanent residence and citizenship need actual residence.
Permanent residence through qualifying property held for at least five years, a €60,000 administration fee, €37,000 government contribution and €2,000 donation. Renting starts at €14,000 a year; buying starts at €375,000. Applicants must also meet the programme's capital-assets test. This is not a citizenship-by-investment route.
An investor immigration permit from a qualifying €300,000 investment, including eligible property, company capital or investment funds. The investment must be maintained, and an absence of two years ends the permit. Citizenship is a separate process.
Closed to new investor applicants since 3 April 2025. Existing permits have transitional protections. Spain still offers other immigration routes, including non-lucrative residence and international telework, but they have different eligibility rules.
The current federal ICP guide describes renewable ten-year Golden Residency categories. Some professional, talent and student routes need no investment; confirm details with the issuing authority. Golden Residence itself creates no citizenship entitlement.
Every "from €250,000" figure hides the real bill. On top of the investment sit government fees (sometimes charged per family member), legal fees, property taxes and — for funds — subscription and management fees. A donation or programme fee is spent; a fund or property may have an exit value, but capital is tied up and the sale price is uncertain. Compare the all-in cost for your family and the loss you could bear, using our per-country calculators as estimates rather than fee quotes.
Looking for a second passport rather than residence? Citizenship by investment is a different product. Compare citizenship by investment lawyers for Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, St Lucia and Turkey.
The golden visa countries compared here are Portugal, Greece, Italy and Hungary, which offer investor residence permits, Malta and Cyprus, which offer permanent residence, and the UAE, which offers ten-year Golden Residence. Spain closed its golden visa to new applicants on 3 April 2025. Latvia has a separate company-investment residence route. Caribbean countries and Turkey offer citizenship by investment, which is a different product from residence.
Portugal's cultural investment or support route is €250,000, and may be €200,000 for a qualifying low-density project. Its recovery terms depend on the legal structure. Latvia has a separate company-investment route from €50,000 plus a one-off €10,000 state payment; eligibility and business risk differ. Italy's innovative startup, Greece's qualifying conversion or startup, and Hungary's fund have €250,000 thresholds. Dominica's citizenship-by-investment fund starts at US$200,000, but citizenship is a different product from EU residence. Compare total fees and capital risk before calling any route cheapest.
Latvia's qualifying small-company route begins at €50,000 in share capital plus a one-off €10,000 state payment, before other costs. Portugal's cultural route starts at €250,000, potentially €200,000 for a qualifying low-density project, but its capital-recovery terms depend on the agreement; the fund route starts at €500,000. Italy's startup, Greece's qualifying conversion or startup, and Hungary's fund have €250,000 thresholds. Government, legal and ongoing costs can change the answer for a particular family.
Greece's general period is seven years of lawful residence, with genuine residence and other naturalisation requirements. Portugal is also seven years for CPLP and EU nationals and ten for most others under its 2026 law; nationality proceedings pending when that law took effect follow the prior law. Italy generally requires ten years. These are eligibility thresholds, not processing-time promises. UAE Golden Residence itself creates no entitlement to citizenship.
There is no comparable, current end-to-end processing-time series across these programmes. Italy publishes a 30-day assessment target for the initial Nulla Osta, not the entire visa and residence process. Cyprus estimates about two months to examine a complete investor-permit application, subject to the stated conditions. Portugal's AIMA schedules appointments according to case progress and capacity. Treat any single 'fastest golden visa' promise with caution and ask what event starts and ends the quoted period.
Italy's lowest amount is €250,000 in an innovative startup, while Portugal's fund route starts at €500,000. Portugal also has a €250,000 cultural route that may fall to €200,000 in a qualifying low-density area; recovery depends on the project's legal terms. Italy's approval sequence delays the investment, but startup shares can lose all value. Portugal requires 7 days in the first year and 14 days in each following two-year period; Italy's investor-permit stay exemption is limited to its first five years. Italy generally requires ten years before naturalisation eligibility; Portugal requires ten for most applicants, seven for CPLP/EU nationals, with transitional rules for pending nationality proceedings.
Spain closed its investor route to new applicants on 3 April 2025. Portugal still accepts qualifying investment applications, but the two countries cannot now be compared as live golden visa programmes. If Spain is your destination, assess its non-lucrative or international-telework routes on their own rules rather than assuming an investment will qualify.
Spain closed its programme in April 2025. Portugal removed the real-estate route in 2023 and lengthened its citizenship clock in 2026. The UAE Golden Visa creates no citizenship entitlement, although investors are among the categories that may be nominated separately at the government's discretion. Greece raised its property thresholds in 2024.
No automatic path comes with the visa. The UAE Golden Visa is long-term residence and creates no citizenship entitlement. UAE citizenship is a separate, discretionary nomination process, and investors are among the categories that may be nominated. If an EU passport is your goal, compare the separate naturalisation rules for Portugal, Greece and Italy; if UAE residence is the priority, assess your visa and tax-residency position separately.
There is no guaranteed refund. Property needs a buyer; funds can restrict redemption; company shares and bonds carry issuer risk. Sale proceeds may be below your original investment, and selling too early can jeopardise your permit. Portugal's cultural route may involve an unrecoverable contribution, but the statute also permits investment or support structures: check the actual contract. Italy's philanthropic gift and Malta's MPRP programme fees are non-refundable. Ask a lawyer about holding periods and an independent financial adviser about investment risk.
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 2026-09-29.