Golden Visas are immigration investor programs that allow foreign investors and their families to obtain a residence visa and permanent residence in exchange for a significant financial investment in some of the world’s best countries. Golden Visas are great because they also enable citizenship if the applicant meets the stay requirement criteria.
This guide will give you all the information you need about Golden Visa countries, how to pursue a Golden Visa application, and more. Here is more of what we will cover:
What is a Golden Visa?
A Golden Visa (GV) is an immigration investment program that allows investors and those with the financial means to invest in the economies of countries worldwide in exchange for residency.
Most Golden Visas around the world offer temporary residence permits, but some can lead to permanent residency or citizenship. The visa also grants the opportunity to live, work, and study in the host country and travel within the Schengen Area for European programs.
These visas are issued to individuals and their families who can invest in the country’s Golden Visa program. The most common investments include real estate purchases, capital investments, government bonds, and creating local jobs. Some of the most famous Golden Visas are the Portugal Golden Visa, Spain Golden Visa, and Greece Golden Visa.
The 17 Best Golden Visa Countries in the World
1. Portugal
Portugal is one of the countries with the best European Golden Visa. The Portugal Golden Visa was launched in 2012 and has become one of the most popular Golden Visa options. The five-year residency by investment program offers non-EU citizens the opportunity to obtain residency in Portugal by making a qualifying investment.
A Portugal Golden Visa allows investors and their families to live, work, study, and gain access to the EU. After holding a Portuguese Golden Visa for at least five years, foreign investors and their families can apply for permanent residency or Portuguese citizenship.
Below are some of the most popular investment routes available to qualify for the Portuguese Golden Visa:
- €500,000 investment in an existing Portuguese business or company incorporation. The investment must incorporate or increase the business’s share capital and create permanent full-time jobs for at least three years.
- €250,000 donation to arts or the reconstruction of national heritage.
- Establish a business that creates at least ten jobs for Portuguese nationals.
- €500,000 to research activities by scientific research institutions integrated into the national scientific and technological system.
2. Spain
Following Portugal’s lead, the Spain Golden Visa was launched in 2013. It also offers residency in Spain through significant financial investments. Golden Visa holders can enjoy the right to live, work, and study in Spain and visa-free travel within the Schengen Area.
After two years, individuals can apply for permanent residency, and after ten years, they may apply for Spanish citizenship, provided they meet specific requirements. Spain’s Golden Visa is also among the most popular for many reasons, such as its lack of a minimum period of residence in the country, fast processing time, and easy renewal process.
There are a few investment routes available for applicants to qualify for the Spanish residency by investment program; these would be:
- A minimum real estate investment of €500,000.
- Issue a bank deposit of at least €1 million to Spanish financial institutions.
- Invest a minimum of €1 million in shares of Spanish businesses.
- Invest at least €2 million in Spanish government bonds or public debt.
3. Greece
Greece’s Golden Visa program, launched in 2013, welcomes non-EU/EEA nationals who seek to invest in the nation and enjoy the benefits of living in Greece in exchange for a qualifying contribution to the Greek economy.
Investors can also travel visa-free to other countries within the European Union. The program requires minimal residency; individuals can apply for permanent residency after five years. Greek citizenship is also possible after a certain period if they meet the specific conditions.
There are also many investment options which include:
- Purchase property valued at a minimum of €250,000 (or €500,000 in high-demand areas like parts of Athens, Mykonos, Santorini, and Thessaloniki).
- A 10-year lease of at least €250,000 in hotel accommodations or tourism properties.
- Invest a minimum of €400,000 in:
- Greek government bonds, shares of corporate bonds in Greek companies, investment funds, or venture capital funds in Greece
- Deposit at least €400,000 in a Greek bank.
4. Malta
While Malta doesn’t offer a Golden Visa program, it has the Malta residency by investment program, officially known as the Malta Permanent Residence Program (MPRP), which is one of the EU’s cheapest routes to permanent residency.
It is the only predominantly English-speaking country offering permanent residency in the Schengen Area, so it is attractive to investors from the United States and other English-speaking countries.
Additionally, with permanent residency, visa holders living long-term in Malta are eligible for Maltese citizenship after seven years. They can acquire a passport and travel visa-free to more than 170 countries worldwide. Through leased real estate, investors can gain permanent residency with a minimum investment of €110,000. Provided the investment is maintained, there are no renewal requirements.
These are the investment options for the Malta Permanent Residence Program:
- A real estate purchase of €350,000 (€300,000 in the south of Malta/Gozo).
- A real estate lease agreement of €12,000 per annum (€10,000 in the south of Malta/Gozo).
- A non-refundable administrative fee of €40,000.
- Donation of €2,000
- Each additional adult dependent on the application will need €7,500.
5. Cyprus
The Cyprus Golden Visa program is another fast route to obtaining residency in Cyprus and Europe. The island nation’s government allows foreign investors to acquire an indefinite residence permit in Cyprus in a few months in exchange for a small financial investment of €300,000 in the Cypriot economy.
The Cyprus permanent residency scheme offers a generous European Golden Visa, allowing applicants to include immediate family members. This visa provides access to quality education and travel within Europe’s Schengen Area. Cyprus also has a favorable tax system with lenient exemptions and incentives for residents and non-residents.
Below are the qualifying investment options for obtaining the Cyprus Golden Visa in full detail:
- Purchase a residential property worth at least €300,000.
- Purchase a commercial property worth at least €300,000.
- Place a minimum investment of €300,000 in the share capital of a Cypriot company.
- Place a minimum investment of €300,000 in units of a Cyprus Collective Investment Organization (e.g., AIF, AIFLNP, RAIF).
6. Italy
As part of the European Union, the Italy Golden Visa, or the Italy Investor Visa, enables applicants and their immediate family members to hold residency in an EU country with visa-free travel access to the Schengen zone. Four investments starting from €250,000 are available under the Italy Golden Visa scheme, including:
- Investing at least €2 million in government bonds.
- Purchasing €500,000 in corporate bonds or shares.
- Investing €250,000 in an innovative startup.
- Making a philanthropic donation of at least €1 million.
7. Latvia
Latvia’s Golden Visa program was launched in 2010. It allows foreign investors to gain residency in Latvia by making a significant financial contribution to the country. This program is aimed at at non-EU citizens looking for residency in Latvia and, potentially, the broader EU. It is particularly attractive because it offers a five-year residence permit with no residency requirement.
Latvia’s Golden Visa Investment Options:
- Business Investment of €50,000 in a Latvian company and a €10,000 donation.
8. Hungary
Hungary has a new Golden Visa, which was made available on 1 July 2024. It also aims at non-EU and non-EEA citizens seeking European residency and offers a ten-year residence permit. The European Golden Visa grants investors access to the Schengen area and the opportunity to live and work in Europe.
These are the available investment options:
- Purchase real estate fund units for at least €250,000
- Make a €1,000,000 donation to an institution of higher learning.
- The purchase of real estate options will be available on 1 January 2025.
9. United States
The United States offers two investor visa programs for anyone seeking residence: the US EB5 and E2 Visas. These two visa programs enable investors to receive legal residence status in the United States, provided they substantially contribute to the US economy.
The EB5 Visa provides a path to U.S. citizenship for foreign investors, requiring at least five years of residency. The E2 Visa is for investors aiming to expand or start businesses in the U.S. Both visas offer a Green Card with work privileges and allow family inclusion, providing children access to top universities.
Investment options include capital investment in a commercial enterprise, creating ten full-time jobs, or placing funds in a bona fide enterprise. The E2 Visa investment typically starts at $100,000, while the EB5 requires at least $1.05 million (or $800,000 in a Targeted Employment Area).
10. Canada
The Canada Start-Up Visa Program is one of the best Golden Visa in North America. It is designed for entrepreneurs who want to establish a business in Canada. It targets innovative business ideas that can create jobs for Canadians and compete globally.
To qualify, applicants must:
- Have a business idea supported by a designated organization (venture capital fund, angel investor group, or business incubator).
- Meet the minimum language requirements (English or French).
- Have enough funds to settle in Canada.
- Pass Canadian security and medical clearances.
Successful applicants receive permanent residency, offering a pathway to Canadian citizenship.
11. United Arab Emirates
The United Arab Emirates offers the only Golden Visa in the Middle East, providing a unique opportunity for foreign investors and skilled professionals to obtain long-term residency. This exclusive program allows eligible individuals to secure residence for five to ten years by making qualifying investments in the UAE.
Regarding qualifying investments, the UAE government provides a unique set of eligibility criteria beyond direct investments for foreigners to qualify for their program. These include:
- Investing AED 2 million ($545,000) in real estate investment in designated zones.
- Operating an established business as a partner with a turnover of at least AED 100,000 (about $27,000).
- Receiving support from a UAE business incubator for an innovative business valued at least AED 500,000 (about $136,000).
- Being an outstanding specialized talent in specific fields, including sports, culture, healthcare, art, science, and engineering.
12. Antigua and Barbuda
The Antigua and Barbuda citizenship by investment program is one of the Caribbean’s most popular and cheapest Golden Visas. It offers investors and their family members the unique opportunity to apply for citizenship in just a few months in exchange for a qualifying contribution to its economy.
Applicants seeking to acquire permanent Antigua and Barbuda residency may choose one of the following investment options:
- Contribute at least $230,000 to the National Development Fund (NDF), a government fund aimed at national development projects.
- Purchase of government-approved real estate valued at a minimum of $200,000. The property must be selected from the government’s approved development projects list.
- A minimum contribution of $260,000 to the University of the West Indies Fund grants one family member a one-year scholarship to the University of the West Indies.
13. Dominica
The Dominica Citizenship by Investment program has become popular due to its fast processing time, flexible requirements, and many benefits. In just a few months, qualifying investors can obtain a Dominica passport, providing dual citizenship status, visa-free access to over 140 countries, and enticing tax exemptions, among other benefits. These are the investment options:
- A non-refundable contribution to the Economic Diversification Fund (EDF), which supports public and private sector projects in Dominica.
- Minimum contribution:
- $200,000 for a single applicant
- $250,000 for a family of four
- Purchase of government-approved real estate with a minimum value of $200,000.
14. St Kitts and Nevis
The St Kitts and Nevis Citizenship by Investment program grants investors and their families a passport in a few months in exchange for a qualifying contribution to the nation of a minimum value of $250,000.
The country’s Citizenship by Investment program offers visa-free travel to over 150 countries, quick processing times, and no residency requirement.
Investors enjoy dual citizenship, tax benefits, and the ability to include family members in their applications. Here are the investment options:
- Invest at least $250,000 in the Sustainable Island State Contribution (SISC).
- Invest at least $400,000 in shares of a real estate property in the dual-island nation.
Bear in mind that there are two stipulations for real estate investment:
- A minimum investment of $400,000 in approved properties, such as hotels, villas, and condominium units, would be resalable after seven years.
- A home purchase as a sole owner with a minimum value of $800,000 would be resalable after five years.
15. St Lucia
The St Lucia Citizenship by Investment program grants investors and their family members a St Lucia passport in exchange for an investment.
The investment program is also attractive because it offers visa-free access to over 145 countries, fast processing times, and no residency requirement.
Investors can enjoy dual citizenship and tax advantages. Additionally, citizenship grants access to public education and healthcare services in a politically stable and beautiful environment.
These are the investment options:
- Invest a minimum of $300,000 in government-approved real estate projects. The property must be held for at least five years.
- Make a non-refundable contribution to the National Economic Fund (NEF) of at least $240,000.
- Investment of at least $3.5 million in an enterprise project in St Lucia.
- Investment of at least $300,000 in National Action Government Bonds (NAB).
16. Grenada
The Grenada Citizenship by Investment program was launched in 2013. Since then, it has granted qualifying individuals and their family members the opportunity to apply for citizenship and a Grenada passport in exchange for a credible investment in the island’s economy. Here are the investment options available:
- Investment of at least $235,000 in the National Transformation Fund.
- Investment of at least $270,000 in shares of the Grenada real estate projects.
- Investment of at least $350,000 in a government-approved real estate project.
17. Vanuatu
The Vanuatu Citizenship by Investment program is one of the most attractive programs. The primary benefit of the program is that investors can obtain a second passport in just one to two months, the shortest processing time for citizenship by investment. In addition to its simple process, it offers investors visa-free travel to over 130 countries, dual citizenship, and tax advantages—including no income or capital gains tax.
These are the available investment options:
- Development Support Program (DSP): Make a non-refundable contribution of $130,000 for a single applicant
- $150,000 for a couple
- $165,000 for a family of three
- $180,000 for a family of four.
Golden Visas Investment Comparison
With the option of purchasing real estate provided by most Golden Visa countries to obtain a residence permit, here is a comparison of property investments for popular Golden Visa programs and a few of the well-known citizenship by investment programs.
Country | Type of Golden Visa | Minimum Investment Amount | Processing Time | Residence Permit Validity | Minimum Hold Required for Residence Permit |
Portugal | Donation, business | €250,000 - €500,000 | 9-12 months | 2 years, renewable | 5 years |
Spain | Real Estate, Business | €500,000 | 5-7 months | 2 years, renewable | 5 years |
Greece | Real Estate | €250,000 | 2-3 months | 5 years, renewable | 5 years |
Malta | Permanent Residency Program | €300,000 (in the south of Malta or Gozo) or €350,000 (in the rest of Malta) or a rental of €120,000 per year €110,000 (in the south of Malta or Gozo) | 11-12 months | Permanent residence | 5 years |
Cyprus | Real Estate, Government Fund | €300,000 for family) | 3 months | Permanent residence | 5 years |
Italy | Investment, Business | €500,000 - €1,000,000 | 1-6 months | 2 years, renewable | 2 years |
Latvia | Business | €50,000 | 1-3 months | 5 years, renewable | 5 years |
Hungary | Real estate fund units | €250,000 | 90 days | Permanent residence | 3 years |
United States | EB5 Visa, E2 Visa | $800,000 (TEA) - $1.05 million | 6-12 months | Green Card | 5 years (for citizenship) |
Canada | Start-up Visa, Investor Visa | CAD $200,000 - CAD $1,000,000 | 12-16 months | Permanent residence | N/A |
United Arab Emirates | Investment in Business | AED 2 million | 2-3 months | 2-3 years, renewable | 3 years |
Antigua and Barbuda | Real Estate, NDF, Business | $230,000 (NDF) - $200,000 (Real Estate) | 6 months | Citizenship (no residency requiremen t) | N/A |
Dominica | Real Estate, Government Fund | $200,000 (Government Fund) | 6-9 months | Citizenship (no residency requiremen t) | N/A |
St Kitts and Nevis | Real Estate, Sugar Industry Fund | $250,000 (Government Fund) | 4-6 months | Citizenship (no residency requiremen t) | N/A |
Grenada | Real Estate, Government Fund | $235,000 (Government Fund) | 9 months | Citizenship (no residency requiremen t) | N/A |
St Lucia | Real Estate, Government Fund | $240,000 (Government Fund) | 10-12 months | Citizenship (no residency requiremen t) | N/A |
Vanuatu | Government Fund | $130,000 | 2 months | Citizenship (no residency requiremen t) | N/A |
Benefits of Golden Visa Programs
Golden Visas offers a list of benefits that do not only apply to the main investor but to their family, too.
Residency and then citizenship
A Golden Visa allows third-country nationals to obtain residency by making a significant investment in a country's economy. It also provides applicants with a path to citizenship in as little as five years for certain EU countries.
Stability in a Schengen country
A Golden Visa permit from an EU country provides a safe and stable life in a Schengen country, with the right to live, work, and study there long term. Most GV countries in Europe rank highly on official indexes such as the Global Peace Index, providing a strong sense of social security.
High-quality public services
Golden Visa residency provides a high quality of life with excellent healthcare and education systems. Golden Visa applicants can also send their children to highly-ranked private schools and enjoy access to advanced medical facilities with cheaper private health insurance than the average premiums in the United States.
Various lucrative investments
The Golden Visa process revolves around making a significant investment in a host country. Investors can choose from several investment routes that suit their foreign investment needs while benefiting from incredible ROIs.
Borderless travel in the Schengen Area
Golden Visa residence permit holders from an EU country enjoy borderless travel to other countries across the Schengen Area without needing a Schengen visa.
Family reunification
A Golden Visa application extends to immediate family. Eligible family members include a spouse, dependent children (including adult children), and other dependent relatives. The Portugal Golden Visa, for example, extends eligibility to the dependent parents and parents-in-law or the main applicant and their spouse.Golden Visa Investment Options
Golden Visa rules and investment conditions vary by country. Some countries allow property investments to qualify for a residence permit, whereas others may focus on a broader range of relatively affordable investment options to attract overseas investors. Some common Golden Visa investments include:
1. Real estate
Foreign investments in property through purchases are an option to obtain a residence permit. Malta allows potential applicants to qualify by leasing property.
2. Government bonds
Purchasing government bonds, also known as dead securities, is an option most countries provide.
3. Business investment
Foreign entrepreneurs and investors can establish or invest in existing businesses. This investment may involve creating new jobs.
4. Bank deposit
Bank deposits to a national or local bank are an option to obtain permanent residency in countries like Greece.
5. Startups and innovation
Startups are distinct investment routes from businesses as they require innovation, significant potential for growth, and ongoing job creation. The Italy Golden Visa offers an investment into a startup as one of the investment routes.
6. Investment funds
Capital transfer investments in national investment or venture capital funds. A transfer to an investment fund through a Portuguese financial investment will qualify investors for Portugal’s Golden Visa program.
7. National development funds
Investments in national development funds require a non-refundable contribution; however, the minimum investment is much lower than other options, and non-refundable contributions are a common investment to obtain citizenship by investment.
8. Art and culture
In unique cases, donating to art and cultural renovation projects is recognized as a qualifying investment for UAE’s and Portugal’s Golden Visa Program.
Golden Visa Program Requirements
The requirements for these immigration programs vary from country to country. However, Golden Visa legislation, in most cases, requires Golden Visa applicants to:
- Be a third-country national (non-EU, non-EEA, and non-Swiss citizens).
- Make the required foreign investment and maintain it for a specified period.
- Have clean criminal records.
- Spend a minimum number of days in the country, as per its requirements.
- Not be from or have ties to a prohibited country.
- You must personally own the money you wish to invest.
- Maintain the investment for at least a minimally-required amount of time.
- Be able to prove you have acquired the money legally.
Golden Visa Renewal Requirements
Given the diversity of many Golden Visa programs, each offering unique benefits, such as long-term or permanent residency and even citizenship, the renewal requirements and the necessity of renewal itself can differ significantly from one country to another.
Some Golden Visa countries in Europe, like Portugal and Spain, offer two-year residence permits that are renewable for three years before holders become eligible for permanent residency.
GV holders may be requested to present the following during a Golden Visa renewal process:
- Valid identity documents
- Compliance with the program (i.e., that the investment has been maintained. This can mean proving that their name is still on the title deed of a qualifying property or a statement that a capital transfer has been continuously held in a national bank account.)
- Proof of sufficient financial resources (if the Golden Visa doesn’t come with the right to work)
- Proof of health insurance (if the Golden Visa program requires applicants to have health coverage)
- A clean criminal record
- Golden Visa application for renewal
How Can Global Citizen Solutions Help You?
Global Citizen Solutions is a boutique migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments.
We guide you from start to finish, taking you beyond your citizenship or residency by investment application.
Frequently Asked Questions about a Golden Visa
What are Golden Visas?
A Golden Visa is an immigration by investment initiative that a select few countries provide, allowing qualifying investors and their family members to obtain residence permits, and sometimes even citizenship, provided they make a qualifying financial contribution to the economy.
What Golden Visas are available in Europe?
Portugal is often regarded as having the best Golden Visa program due to its relatively low investment threshold, straightforward path to citizenship after five years, and visa-free access to the Schengen Area. Other popular options include Spain, Greece, and Malta.
Are Golden Visas expensive?
The cost of a Golden Visa depends on the country it’s obtained. For example, the Golden Visa’s minimum investment threshold starts at €250,000 for the Portugal Golden Visa, whereas the Spanish Golden Visa starts at €500,000.
What is the best Golden Visa Program in Europe?
The Cyprus Golden Visa is considered the best in Europe due to its minimum investment requirement of €300,000, permanent residency status, and favorable tax system. However, for those seeking a quicker path to citizenship, Portugal is a better option, as it only takes five years, while Cyprus requires seven years of residency, including military service.
What happens when you get a Golden visa?
Obtaining a Golden Visa grants you the right to reside in the issuing country, often in return for an investment in the local economy. The benefits and conditions vary depending on the country’s Golden Visa program. In many cases, you may enjoy the freedom to live and work in the country.
After successfully obtaining a Golden Visa, there are generally specific formalities to fulfill, including visiting the host country to submit biometric information and obtain a residence permit.
What is the easiest country in Europe to get citizenship?
One of the easiest countries to get European citizenship is Malta. Qualifying applicants of the Malta Citizenship by Naturalization for Exceptional Services by Direct Investment program (CES) can acquire Maltese citizenship and Maltese passports in as little as 12 to 36 months, depending on their investment. Portugal Golden Visa holders with a valid residence permit can obtain Portuguese citizenship after five years, provided they fulfill the minimum residency requirements and other criteria for naturalization.
Who qualifies for Golden Visas in Portugal?
Anyone over 18 with a clean criminal record can qualify for the Portuguese Golden Visa program, provided they place an investment worth at least €250,000.
Does Italy have a Golden Visa?
Yes, Italy has a Golden Visa program that launched in late 2017. The technical name for the visa is the Italian Investor Visa, commonly referred to as La Dolce Visa.
What is the success rate of Golden Visa applications?
The success rate of Golden Visa applications will vary depending on several factors, including the specific program, the eligibility criteria, the applicant’s background, and the quality of the application. Generally, Golden Visa schemes tend to have higher approval rates compared to traditional visa programs due to their criteria being specially designed to attract foreign investors and individuals who meet the program’s investment requirements.
While it is challenging to provide an exact success rate for all Golden Visa programs globally due to the variations among different countries, some programs are known for being more accessible and straightforward, resulting in higher approval rates. These programs may have less stringent financial requirements or more straightforward application procedures.
Can I apply for a Golden Visa if I have been denied a visa in the past?
If you were previously denied a visa, it does not necessarily mean you are automatically ineligible to apply for a Golden Visa. However, your previous visa denial may be considered during the application process, and it could impact the assessment of your application.
Some GV programs may have strict requirements regarding the applicant’s immigration history, considering visa refusals or negative immigration records as a factor in their evaluation. Other programs may be more lenient and focus primarily on the applicant’s ability to meet the investment criteria.
Will obtaining a Golden Visa automatically grant me citizenship in that country?
Obtaining the visa does not automatically grant you citizenship in the country. A successful Golden Visa application typically provides temporary or permanent resident status, allowing you to live, work, and sometimes study in the country that issues it. To obtain citizenship as a GV holder and acquire rights such as voting in national elections and holding a country’s passport requires going through the citizenship by naturalization process.
Can I apply for a Golden Visa while I am in the country as a tourist?
In most cases, you cannot apply for a Golden Visa while in the country as a tourist. Applications typically require applicants to be outside the country of application, meaning you would generally need to apply for the visa from your home country or another country where you have legal residency.
Which country has the best Golden Visa?
Some of the best Golden Visa countries are Portugal, Malta, Greece, Cyprus, Spain, and Italy.
Which is the easiest country to get permanent residency in Europe?
The Golden Visa in Greece is one of Europe’s easiest routes to obtaining citizenship. Moreover, Malta’s and Portugal’s Golden Visa are also attractive options.
What are the disadvantages of Golden Visa?
Golden Visas have disadvantages, including high investment costs, ongoing fees, and potential tax obligations in the host country. Some programs require lengthy residency before qualifying for citizenship, and there may be political risks, as countries can alter or end programs.
How do you qualify for a Golden Visa?
Qualifying for a Golden Visa typically requires making a significant investment in the host country’s economy, often through purchasing real estate, investing in businesses, or contributing to a designated fund. Each country’s program has specific investment thresholds and requirements, which may vary widely. Additionally, applicants usually need to demonstrate proof of sufficient funds, pass background checks, and fulfill any other eligibility criteria set by the program.
