Wealthy individuals are increasingly turning to Europe’s Golden Visa programs as a fast-track route to residency and eventual citizenship in the EU. By making an investment, applicants can secure residency rights in as little as 4 to 12 months.
In this article, we will explore all the Golden Visa programs existing in the Schengen states.

Best Schengen Golden Visa Countries in 2025: Updated List
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What Is a Golden Visa
The European Golden Visa is a residence permit obtained by investment. Such visas are granted in accordance with official government regulations and can have different names, e.g., a “Golden Visa” or an “Investor Visa.” The Golden Visa provides investors with residency benefits in return for a significant financial contribution to the country’s economy.
Investment requirements vary between different EU countries, typically involving either capital transfers, fund purchases, or contributions to local businesses or projects. Investment thresholds start at €50,000.
Brittany Collins, Head of the My Golden Visa Legal Department, stated that currently over 100 countries worldwide offer Golden Visa and Golden Passport programs. Among these, eight are part of the Schengen Area.
Why Are Schengen Golden Visas Important in 2025
Protection of wealth and family in times of geopolitical and economic instability. Amid global uncertainty, political tensions, and economic fluctuations, investors increasingly seek Golden Visas as a strategy to safeguard their capital and ensure family security.
Favourable tax regimes and access to the European market. Golden Visas provide access to the European single market, enabling investors to establish or grow businesses across the EU. Also, some programmes may offer tax advantages.
Hungary, for example, boasts the lowest corporate tax rate in the EU at 9%, making its Golden Visa especially appealing to business-minded investors.
Growing trend for freedom of movement and remote work. The growing trend for remote work has led many professionals to seek greater freedom of movement and flexible living arrangements. Golden Visas support this lifestyle by offering residency rights without requiring permanent relocation or strict physical presence.
This allows remote workers and entrepreneurs to live in one EU country while travelling or operating across the Schengen Area — all while enjoying legal residency status and long-term stability.

Discover 9 most popular Golden Visa programs and choose the best one for your goals.
11 Benefits of Schengen Golden Residence
While the specifics of each country’s program can differ, the overarching benefits that attract individuals are often similar.
Residency. The primary benefit is the acquisition of legal residency. It can eventually provide a path to naturalisation in some countries.
Visa-free travel. With a Golden Visa of a Schengen country, you’re allowed to enter the whole Schengen Area freely and anytime. You can stay in other Schengen countries for up to 90 days within any 180-day period. Importantly, time spent in the country that issued your residence permit does not count towards this limit.
Safety and security. Schengen Golden Visas can be a safety net for individuals from politically unstable or economically uncertain regions, providing an alternative place of residence or refuge in times of need.
Investment opportunities. The required investments for Golden Visa often lead to returns, either through real estate appreciation, interest, dividends, or economic growth.
Tax benefits. Some countries with Golden Visas have attractive tax regimes, especially for foreign investors or non-resident individuals. Italy, for example, offers a flat-tax regime for new residents, allowing eligible individuals to pay a fixed annual tax of €100,000 on foreign-sourced income, regardless of the amount.
Access to quality services. Golden Visa holders typically gain access to the host country’s healthcare system, which is often of higher quality or more affordable than in their country of origin. This can be a significant benefit for families or retirees seeking long-term stability and well-being.
Lifestyle and environment. Golden Visas can offer a higher quality of life through a more favourable climate, cultural opportunities, or a more relaxed pace of life.
Family reunification. Most programs allow the main applicant to include immediate family members, such as spouses, dependent children, and sometimes even parents. This facilitates family relocation and reunification in the new country.
Networking. EU Golden Visa programs often introduce investors to a global community of like-minded individuals, leading to business, social, and cultural networking opportunities.
Retirement planning. Some individuals view Golden Visas as a retirement strategy, providing them with a suitable location to retire with a good quality of life.
Pathway to citizenship by naturalisation. With the Schengen Golden Visa, investors may apply for citizenship by naturalisation after several years of residence, if permitted under the national laws of the issuing country. For example, Portugal offers the possibility to obtain citizenship after five years of holding a Golden Visa.
What Is a Schengen Area and which Сountries have Golden Visas
The Schengen Area comprises 29 European countries that have abolished passports and other types of border control at their mutual borders. For foreign nationals holding a residence permit in one of the countries this means the opportunity to travel freely across the entire Area without additional visas or entry checks.
Investors who obtain Golden Visas in Schengen countries also gain a residency status and, thus, can travel freely within most of Europe.
The table below provides a comparative overview of Golden Visa investment options available across selected European countries.
Residency by investment in Europe compared
Portugal Residency by Investment Options
The Portugal Golden Visa is one of the most popular in Europe. The Golden Visa provides a 2-year residence permit, renewable for successive 3-year periods. To qualify for extension, the applicant must spend at least 7 days a year in Portugal.
Below are the investment options available under the Portugal Golden Visa program.
Purchase of investment fund units. The minimum investment is €500,000 in units with the maturity date of at least 5 years. 60% of the units’ cost must be contributed to businesses located in Portugal.
Cultural heritage. The applicant can invest €250,000 or more to the support of artistic production or preservation of Portuguese cultural heritage.
Support of research and development. Investment of at least €500,000 in research activities conducted by accredited institutions that are part of the national scientific and technological system.
Businesses. An investment of at least €500,000 in existing Portuguese businesses with a demonstrated commitment to generating at least 5 jobs or making capital investments.
Opening company. There is no minimum investment requirement. Investors register a company and create at least 10 jobs.

Explore the benefits and drawbacks of the Portugal investment program versus other Golden Visas
Greece Residency by Investment Options
The Greece Golden Visa remains one of Europe’s most attractive residency by investment options, especially valued for its combination of affordability, diverse investment choices, and strategic geographic location.
The Greek Golden Visa grants a 5-year residence permit, renewable every 5 years, as long as the investment is maintained. No minimum stay is required.
Currently, the Greek Golden Visa provides nine distinct investment pathways. Each option offers unique opportunities tailored to different investor profiles. It ranges from real estate investments in prime areas to financial contributions into government bonds, mutual funds, or local businesses.
1. Real estate purchase remains the most popular route for investors. Greece Golden Visa differentiates minimum investment thresholds based on the property’s location and value. Investors can choose from the following tiers:
€800,000: minimum investment in high-demand areas such as Athens, Thessaloniki, Mykonos, Santorini, and other islands with populations exceeding 3,100 inhabitants;
€400,000: minimum investment in other regions of Greece;
€250,000: applicable for properties undergoing conversion from commercial to residential use or for the restoration of listed historical buildings.
2. Investment in mutual or alternative investment funds — €350,000. Purchase of shares in mutual funds or alternative investment funds that invest exclusively in Greece.
3. Ten-year lease agreement — €250,000. Lease of hotel accommodations or furnished tourist residences for a minimum duration of 10 years.
4. Timeshare agreements — €250,000. Investment in timeshare agreements for hotel accommodations or tourist residences with a minimum duration of 10 years.
5. Inheritance or gift of real estate — €250,000. Acquisition of property through inheritance or as a gift, provided the property’s value meets the minimum investment threshold.
6. Bank deposit — €500,000. Placement of a term deposit in a Greek credit institution for at least one year, with a standing renewal order.
7. Purchase of Greek government bonds — €500,000. Acquisition of Greek government bonds with a minimum maturity of three years, held through a Greek bank.
8. Capital contribution to Greek companies — €500,000. Investment in share capital increase or bonds of companies based in Greece.
9. Purchase of corporate and government bonds listed for trading — €800,000. Investment in a portfolio of stocks and government bonds traded on Greek stock exchanges.

The steady upward trend reflects Greece’s growing appeal among global investors
Italy Investor Visa Investment Options
Italy grants its Golden Visa to individuals who invest in an Italian company, bonds, securities, or philanthropic organisation. The Italy Investor Visa grants a 2-year residence permit, renewable for 3 years. No physical presence is required, but the investment must be maintained.
Capital investment in an Italian company. A minimum investment of €500,000 in an Italian company or €250,000 in an innovative Italian startup company. The investment should be maintained for a minimum duration of 5 years.
Investment in bonds or government securities. An investment of at least €500,000 in bonds issued by the Italian government, to be held for at least 5 years.
Philanthropic donations. Donation of at least €1,000,000 to support projects in culture, education, immigration management, scientific research, or restoration of cultural and architectural assets.

Explore the benefits and drawbacks of the Italy investment program versus other Golden Visas
Malta Permanent Residency Programme Investment Options
Malta offers permanent residency through the Malta Permanent Residence Programme, which is open to non-EU investors who meet financial and due diligence requirements. Successful applicants receive an indefinite permanent residence permit from the outset, meaning there is no need for periodic renewals typical of other Golden Visa schemes.
To qualify, investors must fulfil several mandatory requirements: contribute to the national development fund, make a government-approved property investment, and pay administrative fees. There is no minimum stay requirement, but to retain residency, applicants must maintain a valid address in Malta and continue to meet all program conditions.
Property investment:
Purchase option. Buy a residential property in Malta with a minimum value of €375,000.
Rental option. Lease a residential property with a minimum annual rent of €14,000.
The property must be held for a minimum of five years.
Non-refundable government contribution. If purchasing property, investors make a contribution of €30,000 to the Maltese government. If renting property, the contribution is €60,000.
An additional €10,000 is required for each dependent included in the application.
Administrative fee. A non-refundable administrative fee of €50,000 is also obligatory.
Charitable donation. The donation of €2,000 to a registered Maltese non-governmental organisation involved in philanthropy, culture, science, art, sport, or animal welfare is required.
Financial requirements. Investors demonstrate possession of assets totaling at least €500,000, with a minimum of €150,000 in financial assets. Alternatively, they can prove a minimum of €650,000 in total assets, including €75,000 in liquid financial assets.

Explore the benefits and drawbacks of the Malta investment program versus other Golden Visas
Hungary Golden Visa Options
Hungary’s Golden Visa, officially known as the Guest Investor Program, offers non-EU/EEA nationals a pathway to long-term residency by investment.
Launched on July 1st, 2024, the program provides a 10-year residence permit, renewable for another 10 years, without mandatory physical presence requirements.
Applicants can choose from the following investment options:
Purchase of units in a real estate investment fund — €250,000. Invest in units of a real estate fund registered with the Hungarian National Bank. At least 40% of the fund’s assets must be allocated to Hungarian residential real estate. The investment must be maintained for a minimum of five years.
Charitable donation to higher education — €1,000,000. Make a non-refundable donation to a Hungarian higher education institution managed by a public interest trust foundation. Funds support education, scientific research, and artistic activities.
Luxembourg Investor Visa Investment Options
Luxembourg offers a residence permit for investors, targeting non-EU citizens. The initial residence permit is valid for 3 years and can be renewed, if the investment is maintained and other legal requirements are met.
The Golden Visa requires a minimum investment of €500,000 in a Luxembourg-based business, fund, or bank deposit, depending on the selected route.
Investment in existing Luxembourg-based businesses. A direct investment of at least €500,000 in an existing Luxembourg business committed to sustaining the investment for at least 5 years.
Investment in a new company. An investment of at least €500,000 in a new enterprise with commercial, craft, or industrial activities in Luxembourg, creating at least five positions within the company within three years.
Investment in an approved investment fund. Investing a minimum of €3,000,000 in a management and investment structure previously established in Luxembourg.
Secured deposit. A deposit of at least €20,000,000 in a Luxembourg-based financial institution, with a commitment to retain it for at least five years.
Applicants must also demonstrate ties to Luxembourg. The initial residence permit is valid for three years and can be renewed.
Latvia Residence by Investment Options
Latvia’s Golden Visa program provides a path to temporary residency by real estate or business investment. The initial residence permit is valid for 5 years but must be renewed each year, with proof that the investment is maintained.
There is no minimum stay requirement to keep the permit, making it appealing for investors seeking flexibility. However, physical presence is necessary to progress toward permanent residency or citizenship.
The most common option requires investing at least €250,000 in residential or commercial property.
Real estate. The minimum required investment is €250,000. The investor also must pay a one-time government fee — 5% of the property value.
Investment in real estate property is one of the most popular routes to obtaining residency.
Bank deposits in a Latvian bank. A specified minimum amount of €280,000 must be maintained for five years. The one-time government fee in this case is €25,000.
Government bonds. The bonds must be special-purpose and interest-free. It is also required to pay a one-time government fee of €38,000.
Business investment. Investing €50,000 in a Latvian company can also lead to residency if it pays at least €40,000 in taxes. The investor must make a one-time government contribution of €10,000.
Bulgarian Residence by Investment Program
Bulgaria’s Investor Visa offers non-EU nationals a pathway to permanent residency by various investment options. The program has undergone significant changes in recent years, notably the discontinuation of the fast-track citizenship option in 2022.
However, investors can still obtain permanent residency by making qualifying investments and, after five years, may apply for Bulgarian citizenship by naturalisation.
To qualify for permanent residency under the Bulgarian Investor Visa, applicants must invest a minimum of BGN 1 million, or approximately €512,000, in one of the following options:
Alternative investment funds.
Exchange-traded funds.
Shares in Bulgarian companies.
Certified priority investment projects.
Investment in Bulgarian companies creating employment.
Required Documents for Obtaining an EU Golden Visa
The specific document requirements may vary depending on the country and the chosen investment option, but most Schengen Golden Visas follow a similar set of standard requirements.
Below is a general list of documents typically needed during the application process:
A passport with at least 6—12 months of validity remaining and blank pages for visa/residency stamps.
Proof of investment, such as a property purchase agreement and payment confirmation, bank transfer receipts, or investment fund certificates.
Proof of funds.
Criminal record certificate.
Health insurance.
Proof of residential address.
Marriage and birth certificates for family inclusion.
Completed application forms.
Proof of payment of government fees.
All documents must typically be translated into the official language of the host country and may need to be apostilled or legalised.
Process of Obtaining a Schengen Golden Visa
The process of obtaining a Golden Visa, or residency by investment, varies depending on the specific country and its regulations. However, there is a general procedure that most of these programs follow.
Up to 1 month
Choosing a suitable Golden Visa
Begin by identifying which country’s program aligns with your goals: lifestyle, business opportunities, travel freedom, or other considerations.
Each country has different investment options, such as real estate purchases, business investments, or government bonds. Understand the financial commitments, Due Diligence checks, and other prerequisites.
Begin by identifying which country’s program aligns with your goals: lifestyle, business opportunities, travel freedom, or other considerations.
Each country has different investment options, such as real estate purchases, business investments, or government bonds. Understand the financial commitments, Due Diligence checks, and other prerequisites.
2 weeks
Prepare & submit an application
Gather necessary documentation. The list typically includes personal identification, proof of source of funds, health insurance, police clearance certificates, and other relevant documents.
Depending on the program, you might need to make the investment before, during, or after the initial application. For instance, some countries require a real estate purchase agreement or deposit as proof of commitment.
Gather necessary documentation. The list typically includes personal identification, proof of source of funds, health insurance, police clearance certificates, and other relevant documents.
Depending on the program, you might need to make the investment before, during, or after the initial application. For instance, some countries require a real estate purchase agreement or deposit as proof of commitment.
Several months
Due Diligence & background checks
After submitting your application, the country’s authorities will conduct thorough background checks. This process ensures applicants have no criminal records, are not a threat to national security, and have genuinely acquired their investment funds.
After submitting your application, the country’s authorities will conduct thorough background checks. This process ensures applicants have no criminal records, are not a threat to national security, and have genuinely acquired their investment funds.
1—2 months
Application approval
The country will approve the application once the Due Diligence process is complete and everything is in order. The duration varies by country. Some might take a few months, while others could take over a year.
The country will approve the application once the Due Diligence process is complete and everything is in order. The duration varies by country. Some might take a few months, while others could take over a year.
Up to 10 days
Complete investment & fulfill other requirements
If you still need to, complete the necessary investment, whether by finalising a property purchase, depositing funds into a specific project, or another qualifying investment.
Some countries might have additional requirements, like visiting the country to submit biometrics or attending an interview.
If you still need to, complete the necessary investment, whether by finalising a property purchase, depositing funds into a specific project, or another qualifying investment.
Some countries might have additional requirements, like visiting the country to submit biometrics or attending an interview.
7 days
Obtain residency
Once all requirements are met, the country will grant a residence permit. Collect your residency card either in person or through an authorised representative.
Once all requirements are met, the country will grant a residence permit. Collect your residency card either in person or through an authorised representative.
Depends on the country
Maintain investment & comply with requirements
Most Golden Visas stipulate maintaining the investment for a certain period. They might have other requirements, like spending minimum time in the country each year.
Ensure you comply with all conditions to avoid revocation of your residency or other legal consequences.
Most Golden Visas stipulate maintaining the investment for a certain period. They might have other requirements, like spending minimum time in the country each year.
Ensure you comply with all conditions to avoid revocation of your residency or other legal consequences.
Pathway to a Schengen Golden Passport
The Golden Visa does not immediately grant citizenship, but it may offer a legal route to eventually obtaining a Schengen country’s passport by naturalisation. This process involves several key stages, which may vary slightly between countries but follow a general pathway.
1. Temporary residency by investment. This permit typically lasts 2—5 years and can be renewed as long as the investment is maintained and legal requirements are met.
2. Permanent residency. After holding temporary residency for a number of years, applicants may become eligible to apply for permanent residence. In some countries, such as Portugal, this step can be skipped, allowing investors to apply for citizenship right after temporary residency.
3. Naturalisation and obtaining citizenship. Most Schengen countries allow investors to apply for citizenship by naturalisation after a continuous legal residency period.
Requirements often include:
demonstrating integration into the host country, including passing official exams in basic language skills, knowledge of national culture, history, and legal system;
clean criminal record;
proof of continued investment or sufficient income;
minimum physical presence in the country.
4. Obtaining a Schengen golden passport. Once citizenship is granted, the applicant receives a national passport of the respective country.
Key Takeaways
A Golden Visa equals a residence permit and it can be obtained by investment.
The benefits of a Golden Visa are the acquisition of legal residency, visa-free travel, safety and security, investment opportunities, tax optimisation, access to quality services, and family reunification.
Schengen countries with Golden Visas are Portugal, Hungary, Greece, Malta, Luxembourg, Latvia, Bulgaria, and Italy. Each of them has their own requirements and investment options.
The process of obtaining residency by investment usually takes up to one year. To apply for a residence permit, one must collect documents, fill out an application form, pay fees, undergo background checks, make an investment, and wait for approval.

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