Cheapest Golden Visa programmes in 2026: total cost, ranked

Latvia's share-capital route has the lowest published minimum qualifying investment of any active residence-by-investment programme at EUR 50,000. Greece, Hungary, Italy, and Portugal all start from EUR 250,000. For citizenship by investment, Vanuatu's Development Support Programme starts at USD 130,000 and Dominica's Economic Diversification Fund at USD 200,000.

A lower headline investment is not the same as the best fit. The right programme depends on your citizenship goal — residence permit or citizenship — your family structure, physical-stay tolerance, and total cost once all fees are included. These figures are as of June 2026 and are subject to change; verify against each programme's official source before making any decision. Understand the difference between a residence permit and citizenship in our Golden Visa vs golden passport guide.

We ranked on one criterion only: the minimum qualifying investment a single main applicant must put in to file a valid application, as defined by each programme's official legal framework as of June 2026.

What "minimum qualifying investment" means here

The ranked figure is the threshold investment required to be eligible — the real-estate purchase price, fund contribution, or donation floor stated by the official government body. It excludes government processing fees, due-diligence fees, legal and advisory fees, family dependant add-ons, and any mandatory holding costs. Those are covered separately in the total-cost section.

Why two separate tables?

Residence-by-investment (RBI) routes grant a residence permit — the right to live and, in some cases, work in the host country — but they do not grant citizenship. Citizenship-by-investment (CBI) routes lead to citizenship and a certificate of naturalisation after completing the programme's requirements. Comparing EUR 250,000 for a European residence permit against USD 200,000 for Caribbean citizenship conflates two different legal outcomes, so they are ranked separately. See the Golden Visa to citizenship guide for the pathway from residence to naturalisation where applicable.

Scope: active programmes only. Routes closed or suspended to new applicants before June 2026 are excluded from the ranked tables and noted in a separate section.

Currency note: amounts are quoted in each programme's native currency. No FX-normalised ranking is applied because exchange rates move; the official source figures are authoritative.

Source basis: each figure is verified against the programme's live official government source, numbered in the Source Registry at the foot of this article, and cross-checked against our legal database.

Speak to an adviser for a programme comparison matched to your specific goals and family structure.

The table below ranks active residence-by-investment programmes by their minimum qualifying investment for a single main applicant. Residence leads to a long-term residence permit — not citizenship — in each case. A path to permanent residence or, ultimately, naturalisation may exist separately, subject to distinct legal requirements.

Latvia ^{[1]Latvia PMLP — Residence permit portal}: The share-capital route requires EUR 50,000 paid up into a Latvian company that meets specified criteria, plus a state-budget payment. Confirm current PMLP requirements before applying; contact our team for current eligibility conditions.

Greece ^{[4]Greece Ministry of Migration and Asylum — Golden Visa}: The EUR 250,000 tier applies only to qualifying commercial-to-residential change-of-use conversions or restoration of listed buildings. The standard minimum for most real-estate investments in Greece starts at EUR 400,000 (EUR 800,000 in high-demand areas such as Athens, Thessaloniki, Mykonos, and Santorini). If your property does not meet the exception criteria, the applicable threshold is higher. See our Greece Golden Visa guide.

Hungary ^{[2]Hungary OIF — Guest Investor factsheets}: The Guest Investor Programme allows investment in qualifying real-estate fund units supervised by the National Bank of Hungary. Investors should confirm the current approved fund list with the OIF before proceeding.

Italy ^{[8]Italy MIMIT — Investor Visa for Italy}: The EUR 250,000 threshold applies to the innovative start-up route. Other routes carry higher thresholds: EUR 500,000 for established Italian companies, EUR 1,000,000 for philanthropic donations, and EUR 2,000,000 for government bonds.

Portugal ^{[5]Portugal AIMA — ARI Art. 90-A[6]Portugal Diário da República — Lei Orgânica n.º 1/2026}: The ARI under Art. 90-A no longer includes a real-estate route. The EUR 250,000 threshold applies to qualifying investment fund units or cultural heritage contributions. Portugal requires a minimum physical stay of 7 days in the first year and 14 days in each subsequent two-year period. For nationality applications filed from 19 May 2026, the required residence period is 7 years for CPLP and EU nationals and 10 years for other nationalities under Lei Orgânica n.º 1/2026. See our Portugal Golden Visa guide and Portugal Golden Visa investment funds article.

Cyprus ^{[3]Cyprus Migration Department — Immigration Permits for Investors}: The EUR 300,000 threshold (excluding VAT) is the minimum evidenced at application via receipts to the Migration Department. Dependant income requirements and specific eligibility conditions apply.

Malta ^{[7]Residency Malta Agency — MPRP Legal Framework}: The MPRP is a permanent residence programme — it does not lead to Malta citizenship. The MPRP involves a government contribution (EUR 37,000 if purchasing property; different if renting), a philanthropic donation (EUR 2,000), plus the property purchase or rental commitment. The all-in cost is substantially higher than the headline property figure. See our Malta MPRP guide and Malta MPRP cost article.

UAE ^{[9]UAE Government Portal — Golden Visa}: The 10-year UAE Golden Visa property route requires AED 2,000,000 in eligible real-estate investment. A separate 2-year Dubai property investor residence route exists for qualifying Dubai freehold residential property with different threshold requirements (sole owner: no minimum; joint ownership: AED 400,000 per co-investor share). UAE residence is not UAE citizenship.

Total-cost note: The headline investment figure is only part of the outlay. Adding government permit fees, due-diligence checks, legal fees, and family dependant costs, a EUR 250,000 fund investment (Portugal or Hungary) typically costs EUR 265,000–EUR 300,000 all-in for a single applicant. Malta's MPRP total cost is materially higher than the headline property figure due to the mandatory government contribution (EUR 37,000) and donation. Model your full budget for your specific scenario before comparing programmes on headline figures alone. Speak to an adviser for a total-cost estimate.

What residence by investment routes require

Most active residence-by-investment programmes share these common requirement categories, drawn from official sources ^{[1]Latvia PMLP — Residence permit portal}–^{[9]UAE Government Portal — Golden Visa}:

1. Qualifying investment held for a specified minimum period — this is the figure in the ranked table above.
2. Source-of-funds and due-diligence — applicants must evidence the lawful origin of funds used for the investment. Background checks apply across all programmes.
3. Physical-stay or return conditions — Portugal requires a minimum 7 days in the first year; Cyprus requires an annual visit; UAE requires a return within 6 months. Greece and Hungary impose no minimum stay for permit renewal.
4. Dependent eligibility — each programme defines which family members can be included (spouse, minor children, adult dependants vary by programme).
5. Renewal and maintenance — permits are issued for defined periods (2 to 10 years depending on programme) and are subject to renewal, typically conditional on the investment being maintained.

Meeting the investment threshold is a necessary condition, not a guarantee of approval. Programmes conduct due-diligence reviews and may decline applications at their discretion.

Vanuatu's Development Support Programme starts at USD 130,000 and Dominica's Economic Diversification Fund at USD 200,000 — the two lowest minimum qualifying investments for a single applicant across currently active citizenship-by-investment routes. These figures are the minimum investment contribution only; government fees, due-diligence charges, and processing costs apply on top.

The routes below lead to citizenship — and, after meeting the programme's requirements, to a certificate of naturalisation. They are ranked by minimum qualifying investment for a single main applicant. These are distinct legal outcomes from the residence routes above: citizenship is not the same as a residence permit. See Caribbean citizenship by investment for a full guide to the Caribbean programmes.

Caribbean programmes: the number of countries accessible on a Caribbean CBI certificate of naturalisation varies and changes over time. Mobility benefits must be assessed against current official guidance. Our guides do not quote visa-free country counts.

Capital note — contribution routes are non-refundable: The contribution routes above (DSP, EDF, NDF, NTF, NEF, SISC) are payments to a government fund. Once made, the contribution is not returned on approval, refusal, or withdrawal. Türkiye's real-estate route is refundable in principle after the 3-year minimum hold, subject to market value at exit. When comparing programmes, the non-refundable nature of a contribution must be factored into the total committed outlay alongside government fees, due-diligence charges, and processing costs.

Total-cost note: Adding government fees, due-diligence charges, and processing costs to the headline contribution, a Caribbean CBI route with a USD 200,000 contribution typically costs USD 245,000–USD 280,000 all-in for a single applicant. Speak to an adviser for a full cost estimate for your family scenario.

Vanuatu ^{[16]Invest in Türkiye — Acquiring Property and Citizenship}: The DSP contribution is subject to Vanuatu Financial Intelligence Unit (FIU) due-diligence review and Citizenship Commission discretion. Approval is not guaranteed. Schengen-area access is not available for Vanuatu citizenship holders; any earlier claims to Schengen access are not reliable as of 2026.

Dominica ^{[11]Antigua and Barbuda Citizenship by Investment Unit}: The EDF contribution stands at USD 200,000 for a single main applicant. Real-estate investment in approved projects is also available at USD 200,000, with separate government fees. See our Dominica citizenship by investment guide.

Antigua and Barbuda ^{[12]Grenada Investment Migration Agency}: The NDF contribution covers up to a family of four at USD 230,000. Processing, due-diligence, and government fees apply in addition. Check the current CIU schedule of fees for the dependant fee stack.

Grenada ^{[13]Saint Lucia Citizenship by Investment Programme}: The NTF contribution of USD 235,000 covers a single applicant or family of up to four. Real-estate investment is available at USD 350,000 (sole ownership) or USD 270,000 (shared project), with additional fees. See our Grenada citizenship by investment guide.

Saint Lucia ^{[14]St Kitts and Nevis Citizenship by Investment Unit}: The NEF option covers the main applicant and up to three qualifying dependants at USD 240,000. Note: the real-estate project option is currently suspended per our legal database; contact our team for current availability.

St Kitts and Nevis ^{[15]Vanuatu Citizenship Office}: Verify the current SISC floor against the CIU schedule before quoting. See our St Kitts and Nevis citizenship by investment guide.

Türkiye ^{[17]Spain BOE — Organic Law 1/2025}: The USD 400,000 real-estate route requires the property to be held for a minimum of three years. Citizenship is granted by exceptional naturalisation. See our Türkiye citizenship by investment guide.

The six common criteria investors use to compare programmes beyond headline cost are: (1) qualifying investment type, (2) minimum investment amount, (3) investment holding period, (4) physical-stay or return obligation, (5) family inclusion scope, and (6) whether a separate path to permanent residence or citizenship exists and what it requires. The matrix below maps each programme against these criteria.

A lower headline investment figure does not always produce the lowest total cost. Programmes that carry high due-diligence fees, mandatory government contributions on top of the investment, or per-dependant charges can easily surpass a programme with a higher headline threshold but simpler fee structure.

Cost layers to account for:

1. Government and processing fees. Every programme charges a separate fee to process the application. Caribbean CBI programmes charge due-diligence fees (typically USD 7,500–USD 15,000 per adult applicant) plus application and processing fees. European RBI programmes charge permit-application fees and, in some cases, administrative charges.

2. Due-diligence and background-check fees. Programmes with stricter vetting — including all Caribbean CBI routes and Vanuatu — charge mandatory due-diligence fees. These are non-refundable and apply per adult applicant.

3. Legal and advisory fees. For complex applications or higher-value investments, legal and advisory fees range from EUR 5,000 to EUR 30,000 or more, depending on family composition, investment type, and the jurisdiction.

4. Family dependant add-ons. Most programmes charge additional fees for each dependant included. Caribbean CBI contribution fees typically increase for families of five or more. European programmes may require separate permit fees per dependant.

5. Investment holding and maintenance costs. Some routes require holding the investment for a minimum period (Türkiye: 3 years; Portugal ARI: while permit active; Hungary fund: 5 years). Property-based routes involve ongoing costs: property tax, maintenance, and management fees. See Portugal Golden Visa investment funds for fund-route cost considerations, and our Malta MPRP cost article for a full Malta fee breakdown.

6. Exit and refund conditions. Contribution-based CBI routes are non-refundable. Real-estate routes are refundable in principle after the hold period, though market value at exit is not guaranteed. Fund routes (Portugal, Hungary) are redeemable after the minimum hold period; redemption value depends on fund performance.

7. Property purchase costs and taxes. For real-estate routes, transfer tax, stamp duty, notary fees, and VAT (where applicable) can add materially to the acquisition cost.

Tax and residence status are separate from the investment decision. Obtaining a residence permit or citizenship through investment does not automatically make you a tax resident of that country. Tax residence is determined by the number of days spent in the country, your permanent home, your centre of vital interests, and applicable bilateral tax treaties. Caribbean CBI citizenship does not make you a tax resident of that country. No programme offers a guaranteed tax outcome; we recommend taking advice from a qualified international tax adviser before assuming any tax outcome from a programme choice.

Speak to an adviser for a total-cost estimate.

The right programme depends on your goal, family structure, and how you define value. Here's how the active routes align to the most common objectives.

Lowest entry to EU long-term residence

If your primary goal is a European residence permit at the lowest headline threshold, Latvia's EUR 50,000 share-capital route offers the lowest published entry point. Greece (EUR 250,000 exception tier), Hungary (EUR 250,000 fund), Italy (EUR 250,000 startup), and Portugal (EUR 250,000 fund) sit at the same headline level but differ in investment type, physical-stay requirement, and permit structure. Compare the leading European options in our Greece Golden Visa guide.

Minimal physical-stay requirement

If you want EU residence without committing to regular time in the country, Greece, Hungary, and Cyprus impose no minimum physical stay for permit renewal. Portugal requires 7 days in the first year and 14 days per subsequent two-year period.

Citizenship outcome (Caribbean CBI)

If citizenship by investment is the goal, Caribbean citizenship by investment offers the lowest-threshold options globally. Vanuatu starts at USD 130,000 and Dominica at USD 200,000. These routes carry no physical-stay requirement and grant citizenship as the direct outcome. Both are non-refundable contribution routes — the investment is committed permanently. See our Dominica citizenship by investment guide. Each programme has distinct due-diligence standards; our team reviews all options against your profile.

Family-heavy applications

Families of four or more should note that Antigua & Barbuda's NDF contribution covers up to four family members in the headline figure. Malta's MPRP allows inclusion of parents and grandparents, which many other programmes do not.

Long-term EU planning with a residence-to-citizenship path

Portugal's ARI fund route offers a structured path to permanent residence and, subject to Lei Orgânica n.º 1/2026 requirements, eventual naturalisation. See our Portugal Golden Visa guide for the full timeline.

Business investment appetite

If you prefer an active business investment, Latvia's share-capital route and Italy's startup investor visa channel capital into business activity. Portugal's ARI fund route and Hungary's guest investor programme are passive investment routes.

Speak to an adviser for a tailored programme comparison based on your citizenship, family structure, and investment goals.

Spain — investor residence route closed 3 April 2025

Spain's investor residence route under Law 14/2013 (Articles 63–67) is closed to new applicants from 3 April 2025, per Organic Law 1/2025 ^{[18]Dominica CBIU — Real Estate Investment}[22]. Applications tied to investor visas requested before that date may fall under transitional handling. Existing holders are not affected; their valid authorisations retain their issued validity. Historical investment thresholds apply only to closed or transitional cases and are not available to new applicants.

Portugal — real-estate route removed

Portugal's ARI no longer permits real-estate investment as a qualifying route. The active routes are fund investment, job creation, research, and cultural contributions under Art. 90-A ^{[5]Portugal AIMA — ARI Art. 90-A}.

Saint Lucia — real-estate project option

Saint Lucia's real-estate project option is currently suspended per our legal database. Contact our team for current availability.