How to Choose the Right Golden Visa Program: Comprehensive Guide

Each Golden Visa program offers different benefits and requirements for investors, so understanding which suits their goals best is essential. Albert Ioffe, Legal and Compliance Officer at Immigrant Invest, explains the most popular residence permit by investment programs, including their requirements and how to apply.

What is an EU Golden Visa?

A Golden Visa offers residency by investment. In exchange for financial investment, countries grant residency rights to non-EU citizens. Investors often choose Golden Visas for the opportunity to live, work, and travel within the European Union, as well as for the potential path to citizenship.

Golden Visas are particularly appealing to those looking for stable investment environments, improved mobility, and a secure place to live. Also, these programs often provide investors and their families with access to high-quality education, healthcare, and business opportunities in the EU.

The five following European countries are among the best and offer the cheapest Golden Visas.

5 Best Golden Visa Programs

1. Portugal Golden Visa. Portugal offers one of the most sought-after Golden Visa programs. A €250,000 investment in culture or a €500,000 in fund purchase can secure residency. Investors benefit from visa-free travel across the Schengen Area and a pathway to citizenship after five years.

2. Greece Golden Visa. The Greece Golden Visa is known for its affordability. With a real estate investment starting at €250,000, it’s the lowest-cost option in the EU for buying real estate property.

This program also provides access to the Schengen Area and a straightforward process, attracting investors who want a balance between lifestyle benefits and a reasonable investment threshold.

3. Cyprus Golden Visa. Although Cyprus has shifted its focus after recent changes in citizenship laws, its Golden Visa program still attracts investors. A €300,000 real estate investment allows applicants to receive permanent residency.

The Cypriot residency option is often chosen for its ease and flexibility in maintaining residency status without spending extensive time in the country.

4. Hungary Golden Visa. This investment program provides residency by investment of at least €250,000. Launched in 2024, the Hungary Golden Visa allowed for investment in fund units, real estate, and donations to an institution of higher learning.

5. Spain Golden Visa. Spain offers residency for a minimum real estate investment of €500,000. Investors enjoy free travel within the Schengen Area and can apply for citizenship after ten years of residency. The Spanish program is often preferred by those interested in access to healthcare systems, and cultural offerings.

Golden Visa Requirements

Basic requirements for most programs. Golden Visa programs generally require the following:

1. A clean criminal record. All applicants must submit a police clearance certificate, showing they have no criminal history that would disqualify them.

2. Proof of sufficient income or financial stability. Applicants need to demonstrate they have enough financial resources to support themselves and their families without relying on the host country’s welfare system. This often involves submitting bank statements, tax returns, or proof of income.

3. Investment in real estate, government bonds, or capital transfers. The specific investment type depends on the country’s program, with real estate being the most common. Other options may include contributions to government development funds, job creation through business investments, or the purchase of government bonds.

Residency in the country for a specific number of days each year is not a common obligation. Spain, Greece, and Hungary have no mandatory stay requirement, which allows individuals to maintain residency status without needing to relocate or regularly visit. This option suits investors who prefer to maintain their primary residence elsewhere.

Portugal requires only 7 days of residency per year, and Cyprus requires a visit once every two years.

Family reunification is a key feature of most Golden Visa programs. The specific family members who can be included in an application typically include:

• spouse or partner;

• children;

• parents of the main applicant or spouse.

Each country may define dependents slightly differently, so it is essential to check the specific rules for the Golden Visa program of interest. Some countries, for example, may require additional proof of financial dependence for adult children or elderly parents.

How to Get a Golden Visa

Processing times differ between countries. For instance, Portugal may take up to 12 months to process applications, while countries like Greece can offer a residency permit within four months. Here’s how you can get started with most Golden Visa programs:

1. Choose the country and program. Review the different Golden Visa options based on your investment capacity and residency goals.

2. Prepare your documents. You’ll need identification, proof of investment, and possibly health insurance and a police clearance certificate.

3. Make the required investment. This can be in the form of real estate purchases, government bond acquisitions, or capital transfers, depending on the country.

4. Submit your application. Work with a legal representative or an authorized agent to handle your application and ensure compliance with local laws.

5. Receive your residency permit. Once approved, you’ll be granted a residence permit, which can typically be renewed every few years as long as you maintain your investment.

Conclusion

Choosing the right Golden Visa program depends on your personal goals and financial situation. Whether you’re looking for the fastest route to citizenship, visa-free travel, or investment opportunities, Europe offers several options to choose from.