Golden Visas in Europe: How Much They Cost and Which Countries Offer Them
The Golden Visa programme allows foreign nationals to obtain permanent or long-term residence in exchange for a certain amount of investment in the host country.
Portugal continues to offer the best golden visas in the world, followed by Greece and Austria. Most European countries offer relatively simple procedures for obtaining citizenship, as they allow investors to travel visa-free throughout the EU and set up a business or live in Europe at low cost.
The special programme was launched during the crisis to boost the real estate market. Countries such as Portugal and Spain went in this direction before Greece.
Greece.
Greece offers one of the most attractive and inexpensive golden visa programmes in Europe. A minimum of €250,000 can be invested in real estate or €400,000 in stocks or bonds. As long as the investment is maintained, the residence permit is valid for five years and can be extended indefinitely. The investor can visit 26 Schengen countries without a visa.
However, the rules for obtaining a Golden Visa in Greece have recently been changed. Now, in order to obtain a residence permit and free movement in the Schengen area, an investor will have to buy property at the new limits of EUR 800,000 or EUR 400,000, depending on the region in which he or she is located.
There will also be a limit on the size of the property to be purchased, as it cannot be less than 120 sq m. Thus, the programme excludes small properties, which in the previous period were mainly targeted by investors from third countries, who, after purchasing them, leased them out for short-term rent.
In Greece, the number of golden visas issued this year reached, 5302 (an increase of 112%), with a minimum investment of €1.3 billion. Chinese nationals hold the most valid passports (45%), followed by Russia (14%), Turkey (10%) and Egypt (5%), while Israeli nationals are also expected to come into play following the hostilities in the Middle East.
Italy.
Italy has one of the most creative and competitive Golden Visa programmes in Europe, the article says. The minimum investment amount varies depending on the type of project and impact, ranging from €250,000 to €1 million. Investment alternatives include start-ups, innovation, research, culture, education and social impact. If the investment is sustained and the investor stays in Italy for at least ninety days a year, the residence visa is valid for two years and can be renewed every three years.
Spain.
Spain offers one of the most extensive and diverse golden visa programmes in Europe. Depending on the type of investment, the minimum required amount ranges from €500,000 to €2 million. If the investment is maintained and the investor stays in Spain for at least 183 days a year, the residence visa is valid for two years and can be renewed every five years. Investors can visit 26 Schengen countries without a visa. After ten years of residence, or two years if from a Spanish-speaking country, the investor can also apply for citizenship.
Hungary.
Meanwhile, Hungary has announced its new Golden Visa programme, which will be launched in 2024. Through the Hungarian Golden Visa, applicants will receive a residence permit by investing €500,000 in real estate or €250,000 in a real estate fund.
Ireland.
Officially known as the Irish Golden Visa, it is intended for those interested in investing in the English-speaking EU country, and the donation amount is worth €500,000.
Malta
Malta has a residency programme that is available through both property purchase and rental. In addition, you will need to make a donation to designated institutions. The minimum investment amount for the Malta Permanent Residence Programme is €150,000. The main feature of the programme is that you do not need to live in Malta to maintain your status.