Updated on February 15, 2025
Golden Visas
EU Golden Visas allow travelling visa-free across the Schengen Area states for up to 90 days out of 180 and creating a safe haven in Europe, while the UAE Golden Visa grants new business and lifestyle opportunities.
Golden Visas have a similar procedure for obtaining. Still, they vary in visa-free destinations, required expenses, citizenship prospects, and residence card renewal frequency.
Choose the program to learn more
What is a Golden Visa?
A Golden Visa enables foreign investors to obtain temporary or permanent residency in a country in exchange for a significant investment. The word "golden" refers to the high value of the investment required.
Minimum investment depends on a Golden Visa country, ranging from €182,000 to millions.
Golden Visa programs give opportunities to relocate to a favourable jurisdiction or visit it occasionally — it is up to the Golden Visa holder’s wish. Residency in a foreign state guarantees legal rights, including the right to live, work, study, and receive healthcare there.
Countries that allow obtaining a residence permit and permanent residency by investment in 2025
Who is a Golden Visa for?
1
Emerging countries nationals
As a rule, passports of such countries as India or China are regarded as not powerful because they provide visa-free access to a very limited number of countries. The standard of living, level of medicine, education, and general safety are usually low.
That’s why wealthy citizens look for opportunities to improve their quality of life by moving to another country and getting a second passport in the future.
As a rule, passports of such countries as India or China are regarded as not powerful because they provide visa-free access to a very limited number of countries. The standard of living, level of medicine, education, and general safety are usually low.
That’s why wealthy citizens look for opportunities to improve their quality of life by moving to another country and getting a second passport in the future.
2
Business owners
People doing business abroad and frequently visiting other countries can also benefit from having a Golden Visa.
Golden Visa holders are allowed to set up companies in the country of their residence permit, which expands their business opportunities and allows them to enter new markets.
After obtaining a residence permit by investment in an EU country, they can live there without restrictions and spend up to 90 days every half a year in other Schengen Area states without needing a visa.
People doing business abroad and frequently visiting other countries can also benefit from having a Golden Visa.
Golden Visa holders are allowed to set up companies in the country of their residence permit, which expands their business opportunities and allows them to enter new markets.
After obtaining a residence permit by investment in an EU country, they can live there without restrictions and spend up to 90 days every half a year in other Schengen Area states without needing a visa.
3
US citizens
Although the US passport ranks 12th for freedom of movement and already grants visa-free access to the EU, Americans can get a Golden Visa to relocate and create a safe haven on another continent.
After getting a residence permit, they get an opportunity to work and do business in Europe, access the best world’s clinics, and obtain a second citizenship in future.
Although the US passport ranks 12th for freedom of movement and already grants visa-free access to the EU, Americans can get a Golden Visa to relocate and create a safe haven on another continent.
After getting a residence permit, they get an opportunity to work and do business in Europe, access the best world’s clinics, and obtain a second citizenship in future.
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Common investment options to get EU Golden Visas
Possible options that investors can choose to obtain an EU Golden Visa depend on the country. However, in general, all options can be divided into several groups:
Real estate. Usually, investors are allowed to purchase commercial or residential property. In some countries such as Greece and Spain, the property can be rented out and generate income. After several years, the property can be sold, and the investment returned.
Financial instruments. Options under this group include purchasing stocks, investment fund units, or government bonds. After several years, the securities can be sold, and the investment is returned.
Business investment. Some options for business investments include setting up a new company in the country, investing capital in the existing business or an innovative startup.
Charitable donation. Such options are non-refundable, and the invested capital can be used to support arts, research, and culture.
9 benefits you can enjoy with your Golden Visa
The advantages of a Golden Visa depend on the country where you would like to apply for it. European Golden Visa countries offer a lot of expected benefits. In contrast, the UAE Golden Visa has its own, for example, tax optimisation and very beneficial conditions for staying in the country.
1
Moving to Europe
A European residence permit or permanent residency allows you to live in the country of residence. At the same time, moving is a right, not an obligation: most programs do not require you to live in the country.
A European residence permit or permanent residency allows you to live in the country of residence. At the same time, moving is a right, not an obligation: most programs do not require you to live in the country.
2
Creating a safe haven
An investor with a residence permit can enter the country anytime, even when entry may be denied to foreigners with valid visas. In case of unexpected circumstances in the home country, you will be able to leave it emergently without waiting for a visa to another country.
An investor with a residence permit can enter the country anytime, even when entry may be denied to foreigners with valid visas. In case of unexpected circumstances in the home country, you will be able to leave it emergently without waiting for a visa to another country.
3
Travelling visa-free to the Schengen Area countries
Investors with an EU residence permit can spend up to 90 days out of 180 in the Schengen Area countries without a visa. The time spent in the country issuing the residence permit is not taken into account during this period.
Investors with an EU residence permit can spend up to 90 days out of 180 in the Schengen Area countries without a visa. The time spent in the country issuing the residence permit is not taken into account during this period.
4
Obtaining European citizenship
A citizenship application can be submitted after 5—10 years of residency. Countries like Portugal, Malta, Cyprus, Greece, Hungary, and Italy recognise dual citizenship.
A citizenship application can be submitted after 5—10 years of residency. Countries like Portugal, Malta, Cyprus, Greece, Hungary, and Italy recognise dual citizenship.
5
Business opportunities
Golden Visa holders can register companies in the country of residence. This simplifies doing business or expanding it, for example, entering new markets.
Golden Visa holders can register companies in the country of residence. This simplifies doing business or expanding it, for example, entering new markets.
6
Access to European education
Investors’ children can study at schools and universities in the country that issued the residence permit. The investor and their family become entitled to apply for scholarships and grants on the same conditions as citizens.
Investors’ children can study at schools and universities in the country that issued the residence permit. The investor and their family become entitled to apply for scholarships and grants on the same conditions as citizens.
7
Right to seek treatment in foreign clinics
All the investor’s family members included in the application have access to healthcare services in the country of residence.
EU residents don’t need a medical visa to get treated in another Schengen state if the course of treatment won’t take longer than 90 days.
All the investor’s family members included in the application have access to healthcare services in the country of residence.
EU residents don’t need a medical visa to get treated in another Schengen state if the course of treatment won’t take longer than 90 days.
8
Tax optimisation
The investor can become a tax resident after spending more than 183 days a year in the country of residence. It provides an opportunity to optimise taxes, as Golden Visa countries usually have preferential tax rates.
The investor can become a tax resident after spending more than 183 days a year in the country of residence. It provides an opportunity to optimise taxes, as Golden Visa countries usually have preferential tax rates.
9
Initial investment returned
Most residency by investment programs allow the initial investment to be returned after several years.
Most residency by investment programs allow the initial investment to be returned after several years.
EU countries that offer popular Golden Visa programs
Six EU countries offer the best Golden Visa programs in Europe. They are Portugal, Malta, Greece, Cyprus, Italy, and Hungary. Portugal, Greece, Italy, and Hungary offer temporary residence permits, while Malta and Cyprus grant permanent residency.
Their conditions are similar but, in another way, vary for each country’s minimum investment and residency requirements. The obtaining period is also different.
Most countries allow investors to obtain a residence permit. The residence permit validity period is limited to several years. To extend the status, the investor usually has to meet certain conditions, for example, to keep their investments.
Permanent residency that can be obtained under the Malta Permanent Residence Program or Cyprus Golden Visa program is granted for life. Investors do not have to extend the status. However, they must confirm meeting the program conditions during the first 5 years in Malta.
The family can obtain a residence permit or permanent residency with the investor. Under all the programs, the investor can add a spouse and dependent children to the application.
Portugal, Greece, Italy, and Malta also allow dependent parents to be included.
Travel opportunities. All the countries’ residency, except for Cyprus, provide visa-free access to the Schengen Area, meaning investors and their family members will be allowed to visit any Schengen country without a visa and stay there for up to 90 days out of 180.
Golden Visas in EU countries
Portugal Golden Visa
Portugal offers five investment options, with investment fund units being the most popular. Golden Visa holders need only spend seven days a year in the country to maintain their permit.
After five years as a Golden Visa holder, the investor can apply for Portugal permanent residency or citizenship.
Residency by investment: yes
Citizenship by investment: no
€250,000+
Supporting arts and restoring cultural heritage
€500,000+
Purchase of investment fund units
Malta Permanent Residence Programme
The investor has to fulfil several investment conditions: buy or rent real estate, pay government fees, and donate to a charity. They must also confirm a capital of at least €500,000.
The permanent residence card is to be renewed every 5 years.
Residency by investment: yes
Citizenship by investment: no
€14,000+ per year
Residential property rental
€375,000+
Residential property purchase
Greece Golden Visa
Applicants can invest in real estate, local companies, government bonds, and securities or open a bank deposit. The investment sum varies.
Residence permit is granted for 5 years and can be extended. Applying for citizenship is possible after 7 years.
Residency by investment: yes
Citizenship by investment: no
€250,000+
Residential or commercial property purchase
Cyprus Golden Visa
Cyprus permanent residency by investment is granted for life. To maintain the status, the investor has to visit the island every 2 years and renew a permanent residence card every ten years.
A permanent resident can obtain Cyprus citizenship after 8 years of living on the island.
Residency by investment: yes
Citizenship by investment: no
€300,000+
Purchase of a new residential or any commercial property
Italy Golden Visa
Italy offers four investment options and the minimum investment threshold varies from €250,000 to 2 million.
The residence permit is issued for two years and can then be extended for three years. Golden Visa holders get citizenship after 10 years of living in the country.
Residency by investment: yes
Citizenship by investment: no
€250,000+
Investment in innovative startups
Hungary Golden Visa
Hungary offers two investment options: buying investment fund units or donating to a higher education institution. The residence permit is valid for 10 years and renewable once.
Permanent residency is granted after 3 years; applying for a passport is possible after additional 8 years.
Residency by investment: yes
Citizenship by investment: no
€250,000+
Purchase of units in a real estate investment fund
Austria doesn’t have a Golden Visa but grants residence permits to people with a passive income of €2,436+. Applicants also buy or rent housing and prove proficiency in German. It is required to spend at least 183 days a year in Austria to maintain the status.
Permanent residence can be obtained after five years, and citizenship is granted in another five years. Dual citizenship is not recognised.
Residency by investment: no
Citizenship by investment: no
How to become an Austrian resident →
Belgium’s Investor Visa is granted to people who set up an international holding structure, invest in an existing Belgian company, or invest in a foreign company through a Belgian holding company. The suggested capital is €300,000.
A residence permit is issued for 1 year and can be renewed annually. After three years, the investor can apply for permanent residency.
Residency by investment: yes
Citizenship by investment: no
Obtaining a Belgium Golden Visa →
Germany offer residence permits to entrepreneurs or financially independent persons. Entrepreneurs provide a business plan and sufficient funds to open a company. Financially solvent people confirm funds to support the family.
Permanent residency is granted after 3—5 years of living in Germany, while citizenship can be obtained in 6 years.
Residency by investment: no
Citizenship by investment: no
How to become a resident in Germany →
The Netherlands grant Golden Visas in exchange for contribution of €1,250,000+ to the country’s economy. Applicants prove their investment provides non-financial added value: creates 10+ jobs or stimulates innovation.
The residence permit is granted for 3 years and can be renewed for another 5 years. After getting the status, the applicant must move to the Netherlands.
Residency by investment: yes
Citizenship by investment: no
Details of the Netherlands Investor Visa →
Ireland’s Golden Visa can be obtained for an investment of €400,000 to a charity. Alternatively, applicants can invest €1 million in a business or an investment fund or purchase shares for €2 million.
The first residence permit is valid for two years, the second — for three years, and all the subsequent ones are for five years. Citizenship can be granted after five years.
Residency by investment: yes
Citizenship by investment: no
Details of Ireland residency by investment →
In Luxembourg, foreigners obtain Golden Visas for investments of €500,000—2,000,000. Options include investing in a new company, contributing to family wealth management funds, private equity, or venture capital funds, or depositing.
Investors must live in the country and renew residence permits every three years. After five years, the investor can apply for permanent residency or citizenship.
Residency by investment: yes
Citizenship by investment: no
Total comparison of EU Golden Visa programs
Cost calculation
Family members participation
Investment options comparison
Benefits of each Golden Visa
PDF, 36 pages, 12 MB
Other countries that grant Golden Visas
The UAE grants foreigners 2- or 10-year residence visas for AED 750,000 and AED 2,000,000, respectively, invested in real estate. Applicants may buy properties in special Freehold Zones.
The path to citizenship is long and requires at least 30 years of residence in the country.
Residency by investment: yes
Citizenship by investment: no
Details of the UAE Golden Visa →
The USA Golden Visa, or an EB‑5 Immigrant Investor Program, offers residency for investors and their families if they invest $800,000+ into a company, creating at least 10 permanent full-time jobs for qualified US workers.
Investors get a Green Card and may apply for US citizenship after five years of residency.
Residency by investment: yes
Citizenship by investment: no
How to get the EB‑5 Visa in the US →
Andorra’s residence permit can be obtained by investing €600,000 in real estate, shares of Andorrian companies, debt or financial instruments, life insurance products, or interest-free deposit. Applicants must also prove having a capital of €47,500.
Permanent residency is granted after seven years of being a temporary resident. Applying for citizenship requires an additional ten years.
Residency by investment: yes
Citizenship by investment: no
Guide on Andorra residency by investment →
Canada’s Golden Visa under the Quebec Immigrant Investor Program offers residency to wealthy business people worldwide if they contribute CAD 1.2 million.
Canadian citizenship is available after 3 years of living in the country.
Residency by investment: yes
Citizenship by investment: no
How to get Canada residency by investment →
New Zealand offers an Active Investor Plus Visa requiring the minimum investment of at least NZD 5 million. Applicants may contribute to listed equities, philanthropy, or managed funds. Also, they are obliged to spend at least 177 days in four years in New Zealand.
One can apply for permanent residence after two years of living in the country. A passport is granted after additional five years.
Residency by investment: yes
Citizenship by investment: no
How to obtain a New Zealand investor visa →
Switzerland residence permits are issued to foreigners who have signed tax agreements with one of the cantons. Investors pay an annual lump-sum tax calculated according to their expenses and the canton’s requirements. Usually, it is ₣450,000+.
Foreigners must spend 183+ days a year in the country. After ten years of residence, they may apply for citizenship.
Residency by investment: no
Citizenship by investment: no
How to immigrate to Switzerland →
Monaco’s is available to foreigners who can rent or buy real estate in Monaco and demonstrate financial self-sufficiency. The latter can be done by depositing at least €500,000 in a bank account. The visa is valid for one year.
Foreigners become eligible for Monaco permanent residency and citizenship after 10 years.
Residency by investment: yes
Citizenship by investment: no
Details on the Monaco Golden Visa →
Indonesia offers a 5- or 10-year Second Home Visa in exchange for an investment of at least IDR 2 billion, ≈ $130,000. Applicants can either purchase real estate or open a deposit in a local bank.
Investors are eligible for permanent residence after living in Indonesia for three years.
Residency by investment: yes
Citizenship by investment: no
Cancelled Golden Visa programs
The UK closed its Golden Visa programme (Tier 1 Investor Visa) in February 2022. For now, foreigners can apply for a Start-up Visa by establishing a prospective company or for an Innovator Visa by setting up an innovative business.
The Start-up Visa is valid for two years, and extensions are prohibited. The Innovator Visa is granted for three years and can be extended an unlimited number of times.
Requirements for UK business visas →
Hungary offered a Permanent Residency by Investment since 2013. Investors purchase government bonds for at least €300,000. The program was closed in March 2017 following criticism and concerns about transparency and security risks.
In July 2024, the Hungarian government launched a new Golden Visa program. It grants temporary residency for 10 years.
Terms of the new Hungary Golden Visa →
The Spanish government announced on January 3rd, 2025, that the Spain Golden Visa will close in April 2025. Until then, investors can apply for a residence permit by investing €500,000 or more.
Foreigners can still obtain the Digital Nomad Visa in Spain. It is available to those with a minimum monthly income of €2,646.
Details on the Digital Nomad Visa →
Cyprus operated its Citizenship by Investment program since 2013. Applicants invested €2 million in real estate, government bonds, alternative investment funds, or businesses.
The CBI program was closed in November 2020 due to violations in procedures and was replaced by the Cyprus Permanent Residence.
Montenegro granted golden passports from January 2019 until January 2023. Investors fulfilled two conditions: made a non-refundable contribution of €200,000 and purchased a share of over €250,000 in a government-approved real estate project.
At the end of 2022, Montenegro cancelled the program.
New Zealand Golden Visa could be obtained by investing NZD 3 million to NZD 10 million in bonds, equities, real estate, angel funds, or philanthropic organisations.
The program closed on July 27th, 2022 and was replaced by the Active Investor Plus Visa for those who contribute to listed equities, philanthropy, or managed funds.
Caribbean passport by investment: is it a Golden Visa or not?
Antigua and Barbuda, Dominica, Grenada, St Lucia, and St Kitts and Nevis allow investors from all over the world to participate in citizenship by investment programs. Sometimes, these programs are called “the Caribbean Golden Visas”, but such a designation is incorrect.
Typically, a Golden Visa means a residence permit by investment. But when it comes to the Caribbean countries, investors are granted citizenship, not residency. Thus, it is more correct to refer to Caribbean countries as “golden passport countries”.
The minimum investment amount for obtaining citizenship in the Caribbean is $200,000.
Each program offers several options. For example, to get a Grenada passport by investment, one can contribute $235,000+ to a state fund or invest $270,000+ in a government-approved real estate project.
If an investor chooses to purchase real estate, they can sell their share in 3—7 years and partially return the money spent on participation in the citizenship program.
The Caribbean passport by investment allows its holder to travel visa-free to 140+ countries, including the UK and the entire Schengen Area, get a long-term US visitor visa and use other benefits.
Golden Visas requirements for applicants
A specific list of requirements for applicants depends on the program you choose. However, there are some general points in all Golden Visa terms.
Investors should comply with the following requirements to get a Golden Visa card:
be over 18 years old;
own money for investment earned not in the country of the program they apply for;
have no criminal record or prosecution;
be able to prove the legality of income;
not be under sanctions;
have health insurance.
Some countries have other demands: for example, an applicant should not have any debts in Portugal to get a Golden Visa card. Also, in most cases, one should have rented or own housing in the country to apply for a residence permit.
How to apply for a Golden Visa?
Every Golden Visa program has its application procedure, but some steps are standard. Usually, an applicant should fulfil the chosen investment condition, such as buying a property or opening a business, collecting all the required documents, and applying for a residence permit.
A government unit or agency responsible for the program conducts Due Diligence and decides whether to issue a Golden Visa card.
Turning to a licensed agent
The licensed agent’s help is a must under most Golden Visa Programs, as governments usually accept applications only through such designated agents, not from investors directly.
When contacting a licensed agent, you discuss your case with investment migration experts, undergo preliminary Due Diligence, and sign a Services Agreement.
Immigrant Invest is a licenced agent of government-approved investment programs in the EU and the Caribbean. We accompany our customers, from choosing the program that best suits their needs to obtain the status and a Golden Visa card renewal.
Choosing an investment option
Investors usually buy real estate to get Golden Visas. This option is available in Greece, Cyprus, Spain, Hungary, and the UAE. In Malta, having purchased or rented housing is one of the mandatory conditions.
Immigrant Invest has a database of real estate projects in different countries from reliable developers. The property experts help in selecting real estate and concluding the deal.
Portugal, Italy, and the USA don’t accept real estate as an investment for a Golden Visa. Investors purchase fund units or support businesses there.
Preparation of documents
Immigrant Invest lawyers compile a list of documents depending on the chosen country and investment option, including but not limited to:
a valid passport;
a certificate of no criminal records;
birth certificates;
a marriage certificate, if applies;
proof of funds and their legitimacy;
a CV;
health insurance.
The investor collects the originals and passes them to the lawyers, who arrange translation and notarization of copies.
Applying for a Golden Visa
The documents are submitted to the country’s migration service or a specially designated program agency.
In some countries, an attorney can make the application by proxy, but personal attendance might be required. For example, the investor must be in Spain when applying for a Golden Visa, entering the country in advance on a Schengen Visa, if required.
Due Diligence
Due Diligence is the critical step of every Golden Visa program. Its results define whether the applicant will get a residence permit. The rejection may lead to the impossibility of participating in similar programs.
The designated migration authority checks the applicant’s eligibility for a Golden Visa. Besides, they confirm the legitimacy of the investor’s fund and income sources and the absence of criminal records, prosecutions, visa denials, and sanctions.
Due Diligence usually takes several weeks to be completed.
Getting a residence permit card
If Due Diligence is passed and the application is approved, the investor visits the migration service for fingerprinting and taking photos for their residence permit card.
The residence permit is issued 2—4 weeks later. It can be collected personally from the migration service, by an attorney by proxy, or received by mail to the registered address in the country.
Renewal of the residence permit card
Depending on the country and the program, investors renew their residence permits 1—10 years later. Keeping residency might require holding the initial investment and proving compliance with the program conditions.
The investor usually collects the same documents as for the first residence permit and re-submits fingerprints. In some countries, proof of mandatory residing must be demonstrated.
Which country is best for a Golden Visa?
Which Golden Visa to choose depends on your goals, budget, and plans for obtaining citizenship in future. See the Golden Visa comparison in our shortlists below, which could help you narrow down your options.
Visa-free destinations
Travel visa-free to the Schengen countries for 90 days in any 180 days
Lower cost
The minimum investment amount for a single applicant, subject to government fees
Quicker path to citizenship
Subject to maintaining the residence permit and passing the required exams
Infrequent renewal of the residence card
Renew a residence permit or permanent residence card every five years or not renew at all
Total comparison of EU Golden Visa programs
Cost calculation
Family members participation
Investment options comparison
Benefits of each Golden Visa
PDF, 36 pages, 12 MB
Answers to frequently asked questions
Schedule a meeting
Let’s discuss the details
Schedule a meeting at one of our offices or online. Our lawyers will analyze your situation confidentially, calculate the cost of your application and help you find a solution based on your goals, in person at a place convenient for you or online, at a time that suits you.
Chief Development Officer at Immigrant Invest
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