A Golden Visa, also known as residency by investment, is a program that allows foreigners to live, work, and study in another country in exchange for a substantial financial investment. These programs are different to citizenship by investment programs, which provide a direct route to citizenship.
In 2026, more than a dozen countries offer Golden Visa programs across Europe, the Americas, Asia, Africa, and the Middle East. Investment thresholds, residency requirements, and citizenship pathways vary significantly between them.
Minimum investments range from around €50,000 for the Latvia Golden Visa to over $10 million for the Singapore Global Investor Program (GIP).
However, in 2026, investors often compare factors beyond the investment amount. Family inclusion, stay requirements, processing times, and future citizenship opportunities all play an important role when evaluating Golden Visa options.
This guide explains how Golden Visas work, their main benefits and requirements, and the countries that offer them in 2026. It helps you compare Golden Visa programs and identify the options that best align with your goals.
Golden Visa: Key Takeaways
What a Golden Visa Gives You
A Golden Visa is a residency-by-investment program that grants foreigners the right to live, work, and study in a country in exchange for an investment such as purchasing real estate, making a government contribution, or creating jobs.
The specific investment options and requirements vary by country, but most Golden Visa programs allow applicants to include family members, such as spouses and dependent children, in the same application.
Golden Visas are different from citizenship-by-investment programs.
- Golden Visa programs (residency by investment): Provide a residence permit in exchange for an investment.
- Citizenship by investment programs: Grant full citizenship directly.
However, it is important to note that, in countries such as Portugal and Italy, a Golden Visa can lead to permanent residency and citizenship through naturalization, provided you fulfil all the nationality requirements.
Most Golden Visa programs have low or no minimum stay requirements, allowing investors to keep living and working in their home country while maintaining residence status abroad.
- Residence permit: Allows you to legally live in a country for a specified period. The residence permit can often be renewed, depending on the conditions of the permit and whether you continue to meet the requirements.
- Permanent residence: Allows you to legally live in a country indefinitely after meeting specific requirements. You will not have the same rights as with citizenship, such as the right to vote in national elections or have a passport.
- Citizenship: Provides you with full legal membership rights of a country, including the right to a passport and being able to vote in national elections.
Golden Visa Countries: Compare Active Programs
We outline Golden Visa programs and residency by investment programs that are available in 2026, in the table below, before providing more detailed information, which family rules.
We also include in this list where the country ranks in the 2026 Global Residency Programs Report, created by Global Citizen Solutions’ Global Intelligence Unit (GUI). The methodology covers: Quality of life, ease and reliability of process, onward mobility, cost and tax efficiency, and governance credibility.
| Country | Status | Minimum investment | Minimum stay | Can lead to | GIU rank |
|---|---|---|---|---|---|
| Europe | |||||
| Greece | Active | €250,000 (commercial-to-residential conversion or heritage restoration) | None | PR after 5 years; citizenship after 7 (must live in Greece) | 5th |
| Portugal | Active; real estate no longer qualifies | €250,000 (donation to arts or cultural heritage) | About 7 days per year on average | PR after 5 years; citizenship after 10 (7 for EU and CPLP nationals) | 3rd |
| Malta | Active; 1-year temporary permit available since Jan 2025 | €169,000 for a family of four (property purchase €375,000 or rent €14,000/year; assets of €500,000 or €650,000 required) | None | PR immediately; citizenship is a separate process | 12th |
| Cyprus | Active | €300,000 (plus €50,000 annual foreign income) | One visit every 2 years | PR immediately; citizenship after 7 years | 15th |
| Italy | Active; approval given before investing | €250,000 (innovative startup) | None | PR after 5 years; citizenship after 10 | 4th |
| Latvia | Active; significant changes from 15 Sep 2026 | €50,000 (company with fewer than 50 employees) | None | PR after 5 years; citizenship after 10 in total | 28th |
| Hungary | Active; pre-approval before investing | €250,000 (real estate fund) or €1,000,000 donation | None | 10-year permit; PR after 3 years; citizenship after 8 years of PR | 18th |
| Serbia | Active | No minimum (any residential or commercial property) | 183 days per year | PR after 3 years; citizenship after 6 | 42nd |
| Luxembourg | Active; repeal proposed, still before Parliament | €500,000 (existing Luxembourg company) | Must reside in Luxembourg | PR after 5 years; citizenship after 5 | 9th |
| Montenegro | Active; EU candidate country | €150,000 (real estate) or company formation | None (5 years' continuous residence needed for PR) | PR after 5 years; citizenship after 10 | 39th |
| Americas | |||||
| USA (EB-5) | Active | US$800,000 in a TEA (US$1,050,000 elsewhere), plus 10 jobs | 183 days per year | Green Card immediately; citizenship 5 years later | 27th |
| USA (E-2) | Active; treaty-country nationals only | None fixed (typically US$100,000–200,000) | No minimum; up to 2 years per entry | Renewable residence only; no PR or citizenship | 32nd |
| Costa Rica | Active | US$150,000 | One visit per year (24–72 hours) | PR after 3 years; citizenship after 7 | 23rd |
| Panama | Active | US$300,000 (new-build real estate; other routes US$500,000–750,000) | One visit every 2 years | PR immediately; citizenship after 5 years' continuous residence | 34th |
| Brazil | Active | R$150,000 (about US$30,100) | 14 days every 2 years | PR after 4 years; citizenship 8 years from application | 25th |
| Bahamas | Active; no right to work without authorisation | US$1,000,000 | 90 days per year | PR immediately; citizenship after 10 years | 29th |
| Middle East and Asia | |||||
| UAE | Active | AED 2 million (about US$550,000); or AED 50,000/month talent route | None | 5- or 10-year renewable residency; no PR or citizenship | 2nd |
| Singapore | Active | S$10 million (about US$7.8 million) | None | PR immediately; citizenship after at least 2 years (prior citizenship renounced) | 8th |
| Hong Kong | Active; launched 2024 | HKD 30 million (about US$3.8 million), plus HKD 30 million net assets | None for the visa; 7 years' continuous residence for PR | PR after 7 years; no citizenship | 19th |
| Asia-Pacific | |||||
| New Zealand | Active; up to 20% may go to philanthropy from 1 Jun 2026 (Growth) | NZ$5 million (about US$2.8 million) Growth; NZ$10 million Balanced | 2–3 months per year | PR after 3 years (Growth) or 5 (Balanced); citizenship after 5 | 6th |
| Africa | |||||
| Mauritius | New in 2026; quota of 100 visas per year | US$1,000,000 (priority sectors such as fintech, AI and renewables) | None | Renewable 2-year visa; PR after 2 years; no citizenship | 35th |
Rules checked on 7 October 2026 against official sources. Sources for each country can be found in the country program sections below.
Greece Golden Visa
- Minimum investment: €250,000
- Permanent residency: After 5 years
- Pathway to Citizenship: After 7 years (required to live in Greece)
- Stay requirement: None
- Family inclusion: Yes
- Processing time: 4-6 months
- GIU rank: 5th
The Greece Golden Visa is one of the few European Golden Visa programs that still offers a real estate investment route, with the entry route being a commercial property converted into residential use or the restoration of a protected heritage building for €250,000.
Family rules: Residency extends to family members, including the spouse, dependent children up to 21, and parents of both the primary applicant and spouse, with no requirement to provide proof of dependency and no age restrictions on parents.
The Greek Golden Visa can lead to permanent residency after five years and Greek citizenship after seven years, making it an attractive option for investors seeking long-term access to Europe. You will, however, need to physically live in Greece during the seven years to be eligible.
Source: Hellenic Republic Ministry of Migration & Asylum
Portugal Golden Visa
- Minimum investment: €250,000
- Permanent residency: After 5 years
- Pathway to Citizenship: After 10 years (seven for EU and CPLP nationals)
- Stay requirement: Approximately 7 days per year
- Family inclusion: Yes
- Processing time: 18 to 24 months
- GUI rank: 3rd
Launched in 2012, the Portugal Golden Visa is one of Europe’s most established Golden Visas.
Unlike Greece, Hungary, and Latvia, real estate no longer qualifies for Portugal’s Golden Visa. In 2026 investment options include:
- €250,000 donation to the arts or to the restoration of Portuguese cultural heritage
- €500,000 investment into approved funds
- €500,000 transfer to scientific research
- Company formation with five full-time jobs
- The creation of 10 full-time jobs
Family rules: Applicants can include eligible family members. This includes your spouse or legal partner, children under the age of 18, dependent children under the age of 26 if they are single and enrolled as full0-time student. Parents of the main applicant or their spouse/partner can also be included. They must be financially dependent if they are under the age of 65.
Permanent residency is available after five years, and Portuguese citizenship after 10 years (7 for EU and CPLP nationals) under Portugal’s 2026 nationality law. One highlight of the Portugal Golden Visa is its low physical presence requirement of just seven days per year on average, allowing investors to maintain Portuguese residency without having to relocate full-time.
Source: AIMA (Agency for Integration, Migration and Asylum).
Malta Permanent Residence Program
- Minimum investment: €169,000 minimum for a family of four
- Permanent residency: Immediately
- Pathway to Citizenship: Separate process with its own legal requirements
- Stay requirement: None
- Family inclusion: Yes, up to 5 generations
- Processing time: 9 months
- GUI rank: 12th
The Malta Permanent Residency by Investment Program (MPRP) is one of the few residency by investment programs that grant permanent residency from the start.
To apply for Malta’s Golden Visa, applicants must meet the following criteria:
- Hold assets of at least €500,000 (including €150,000 in financial assets) or €650,000 (including €75,000 in financial assets)
- Invest in property through purchase (€375,000) or rent (€14,000 per year)
- Make a government contribution of €37,000 plus a €2,000 donation.
The Malta Permanent Residency by Investment program has no minimum stay requirement and allows visa-free travel throughout the Schengen Area.
It also has one of the broadest family inclusion policies in Europe, covering spouses, children up to 29 years of age, parents, and grandparents under a single application.
Since January 2025, Malta has offered a one-year temporary residence permit, allowing investors to move to Malta while their permanent residence application is being processed.
Source: Residency Agency Malta
Cyprus Golden Visa
- Minimum investment: €300,000
- Permanent residency: Immediately
- Pathway to Citizenship: After 7 years
- Stay requirement: Visit Cyprus at least once every 2 years
- Family inclusion: Yes
- Processing time: 2 to 6 months
- GIU rank: 15th
The Cyprus Golden Visa has one of the shortest processing timelines among EU Golden Visas, granting permanent residence in two to six months in 2026.
To qualify, applicants must invest at least €300,000 in approved assets, such as residential or commercial property or shares in a Cypriot company or investment organization, and demonstrate annual foreign income of at least €50,000.
Family rules: Spouses and dependent children under 25 can be added to the Cyprus Golden Visa application, allowing families to obtain EU residency together. An additional €15,000 is required in annual income for a spouse and €10,000 per dependent.
The Cyprus Non-Dom Tax Residence is an additional benefit for investors. This regime exempts foreign residents from tax on worldwide dividends, interest, and most capital gains for up to 17 years.
After seven years of residency, applicants may apply for Cypriot citizenship. While Cyprus is not part of the Schengen Zone, residency still provides a long-term base within the European Union.
Source: Migration Department, Government of Cyprus.
Italy Golden Visa
- Minimum investment: €250,000
- Permanent residency: After 5 years
- Pathway to Citizenship: After 10 years
- Stay requirement: None
- Family inclusion: Yes
- Processing time: 3 to 6 months
- GIU rank: 4th
The Italy Golden Visa stands out for its streamlined application process and a timeline of three to six months as of October 2026.
Unlike most Golden Visa programs, investors receive government approval before making their investment, reducing upfront financial risk.
Investment options start at €250,000 through an innovative Italian startup, making it among the lowest entry thresholds for European Golden Visas.
Family rules: Applicants for the Italy Investor Visa can also include eligible family members, which include the spouse, children under 18 (over 18 if dependents), and parents over the age of 65.
For investors planning to relocate, Italy’s flat tax regime allows eligible new tax residents to pay a fixed annual tax of €300,000 on foreign income, regardless of how much they earn abroad.
Source: Ministry of Enterprises and Made in Italy
Latvia Golden Visa
- Minimum investment: €50,000
- Permanent residency: After 5 years
- Pathway to Citizenship: 10 years in total
- Stay requirement: None
- Family inclusion: Yes
- Processing time: 2 to 3 months
- GIU rank: 28th
The Latvia Golden Visa is the world’s most affordable Golden Visa program, with a starting investment of €50,000 in a local company with fewer than 50 employees.
Latvia’s Golden Visa is typically processed in around two to three months.
Family rules: Residency can be extended to your spouse, dependent children under 18, and dependent parents who are medically dependent on the investor under a single application.
Permanent residency may be available after five years of qualifying residence, with citizenship potentially available after a total of ten years, subject to the relevant residence, language, and other legal requirements.
Latvia’s Golden Visa is an attractive option for those seeking a lower-cost route to EU residency, while the country also offers a more affordable cost of living than several other European countries. According to Numbeo, the cost of living in Germany in October 2026 is approximately 37% more expensive than in Latvia, and 22% lower than France, excluding rent.
Important note: The Latvia Golden Visa has undergone significant changes as of 15 September 2026, including changes to the investment routes and validity of residence permits. Find out more in our complete guide to the Latvia Golden Visa.
Source: Office of Citizenship and Latvian Affairs, Government of Latvia
Hungary Golden Visa
- Minimum investment: €250,000
- Permanent residency: 3 years
- Pathway to Citizenship: After 8 years of permanent residency
- Stay requirement: None
- Family inclusion: Yes
- Processing time: 3 months
- GIU rank: 18th
The Hungary Golden Visa grants a ten-year residence permit from the start. It’s renewable for another ten years. After three years, you can secure permanent residency, and after eight years of permanent residency, you are eligible for Hungarian citizenship.
Officially known as the Hungary Guest Investor Program (GIP), the scheme has two investment routes: a €250,000 investment in a real estate fund or a €1,000,000 donation to a public trust supporting higher education.
Family rules: Investors can include spouses, children, and dependents in their application.
Hungary’s Golden Visa processing time is around three months in 2026, and applicants receive pre-approval before completing the investment, reducing the risk of rejection.
Source: National Directorate-General for Aliens Policing
Serbia Residency by Investment
- Minimum investment: None. Applicants must only purchase residential/commercial property anywhere in the country
- Permanent residency: After 3 years
- Pathway to Citizenship: After 6 years
- Stay requirement: At least 183 days per year
- Family inclusion: Yes
- Processing time: 30-60 days
- GIU rank: 42nd
The Serbia Residency by Investment program allows investors to obtain residency by purchasing residential or commercial real estate. One of its biggest drawcards is that it has no minimum investment requirement.
Investors can include eligible family members in their Serbian Golden Visa application and obtain temporary residency within 30 to 60 days of the purchase.
Family rules: Eligible family members include a spouse, dependent children up to 25, and parents over 65.
An attractive advantage is that Serbia is a treaty country with the United States. This means that Serbian citizens can apply for the E-2 Visa and acquire US residency through investment.
Source: Welcome to Serbia, Government of the Republic of Serbia
EB-5 Immigrant Investor Visa – USA
- Minimum investment: $800,000
- Permanent residency: Immediately
- Pathway to Citizenship: 5 years after holding a Green Card
- Stay requirement: At least 183 days per year
- Family inclusion: Yes
- Processing time: 3 to 5 years
- GIU rank: 27th
The EB-5 Visa is the United States’ residency-by-investment program. It grants investors and their families a Green Card in exchange for an investment and the creation of at least 10 full-time jobs for US workers.
Family rules: You can include your spouse and unmarried children in your EB-5 petition.
Investment thresholds start at $800,000 in a Targeted Employment Area (TEA) and $1,050,000 in other locations.
The main advantage of the EB-5 is that it provides a direct permanent residence in the United States, with a pathway to citizenship after 5 years of holding a Green Card.
Source: U.S. Citizenship and Immigration Services, US Department of Homeland Security
E2 Visa – USA
- Minimum investment: None
- Permanent residency: No
- Pathway to Citizenship: No
- Stay requirement: No minimum stay. Maximum stay of two years per entry
- Family inclusion: Yes
- Processing time: 3 to 6 months
- GIU rank: 32nd
The E-2 Visa allows citizens of treaty countries to live and work in the United States by investing in and operating a US business.
Unlike the EB-5 Visa, there is no fixed minimum investment requirement, although successful applicants often invest between $100,000 and $200,000.
Family rules: Spouses can also obtain work authorization, while dependent children can study in the United States.
One of the program’s main advantages is speed. E-2 applications can be processed in as little as a few months, allowing investors to establish and actively manage a US business without the higher investment thresholds required by other investor visa programs.
The E-2 Visa does not lead to permanent residency or citizenship. However, it grants an initial residence permit valid for up to two years, which can then be renewed indefinitely, provided the eligibility requirements are met.
Source: U.S. Citizenship and Immigration Services, US Department of Homeland Security
UAE Golden Visa
- Minimum investment: AED 2 million (approx USD $550,000) or AED 50,000 monthly (approx USD $136,150)
- Permanent residency: No, only long-term, renewable residency
- Pathway to Citizenship: No
- Stay requirement: No
- Family inclusion: Yes
- Processing time: 1 to 8 weeks
- GIU rank: 2nd
The UAE Golden Visa, also called the Dubai Golden Visa, grants renewable five- or 10-year residency to investors, entrepreneurs, skilled professionals, and exceptional talent.
The AED 50,000-a-month route (approx. USD $136,150) is the Exceptionally Talented and Rare Specialisations pathway for entrepreneurs and highly skilled professionals, such as doctors and scientists.
One of the program’s main advantages is the UAE’s tax environment, which does not impose personal income, capital gains, or inheritance taxes.
Family rules: UAE Golden Visa holders can also sponsor spouses, children, and parents, making it a popular option for families seeking long-term residency in the Middle East.
The program does not lead to UAE citizenship, but its long-term renewable status, business-friendly environment, and strategic location between Europe, Asia, and Africa continue to attract investors and internationally mobile families.
Source: UAE Official Government Website.
New Zealand Active Investor Plus Visa (AIP)
- Minimum investment: NZ$5 million (approx USD $2,801,300)
- Permanent residency: After 3 years
- Pathway to Citizenship: After 5 years
- Stay requirement: Yes, two to three months per year
- Family inclusion: Yes
- Processing time: 35 days
- GIU rank: 6th
The New Zealand Active Investor Plus Visa grants permanent residency through two pathways. Applicants can either invest a minimum of NZ$5 million (approx USD $2,801,300) in the Growth category or NZ$10 million (approx USD $5,602,600) in the Balanced category.
Successful applicants can apply for permanent residence after 3 years of keeping their funds in New Zealand if they invest under the Growth category, or after 5 years if they invest under the Balanced category.
From 1 June 2026, Golden Visa applicants in the Growth category can direct up to 20% of their investment toward philanthropic donations
Family rules: Investors receive indefinite residency and can include a partner and dependent children up to 24 in their application. They can become eligible for New Zealand citizenship after five years.
Processing time for the New Zealand Golden Visa is relatively quick, taking around 35 working days in 2026.
Source: New Zealand Immigration.
Costa Rica Active Investor Visa
- Minimum investment: $150,000
- Permanent residency: After 3 years
- Pathway to Citizenship: After 7 years
- Stay requirement: One visit per year (at least 24-72 hours)
- Family inclusion: Yes
- Processing time: 4 to 9 months
- GIU rank: 23rd
With a short-stay requirement of only one day per year, Costa Rica’s Investor Visa is designed for those who want residency without relocating full-time.
Family rules: Successful applicants and family members (spouses and children) are granted a two-year temporary residence permit, renewable for another two years.
Because Costa Rica taxes only locally sourced income, any foreign income remains outside the tax system, a significant advantage for investors earning income abroad.
Source: Dirección General de Migración y Extranjería
Luxembourg Residency by Investment
- Minimum investment: €500,000
- Permanent residency: After 5 years
- Pathway to Citizenship: After 5 years
- Stay requirement: To reside in Luxembourg
- Family inclusion: Yes
- Processing time: 6 months (approx.)
- GIU rank: 9th
The Luxembourg Investor Visa was introduced in 2017 and requires a minimum investment of €500,000 into an existing Luxembourg company. The residence permit is granted for up to three years and can be renewed.
Family rules: Applicants can include spouses and dependent children under the same application.
Luxembourg Investor Visa Update 2026: The Luxembourg government proposed repealing the Investor Visa program, but the legislation is still progressing through Parliament, meaning the program remains in effect until the new law is formally adopted.
Source: Guichet.lu & Luxembourg Ministry of Foreign Affairs
Singapore Global Investor Program (GIP)
- Minimum investment: S$10 million (approx USD $7,810,550)
- Permanent residency: Immediately
- Pathway to Citizenship: Minimum 2 years
- Stay requirement: No
- Family inclusion: Yes
- Processing time: 9 to 12 months
- GIU rank: 8th
Singapore’s Global Investor Program grants permanent residency to high-net-worth individuals who invest significant capital in the country’s economy.
Family rules: Immediate family members (applicant’s parents, siblings, children, and spouse).
There’s no minimum stay requirement. After two years, foreigners can apply for citizenship and acquire a Singaporean passport, which is the 10th strongest in the world according to the Global Passport Report 2026 developed by our Global Intelligence Unit (GIU). However, Singapore requires applicants to renounce their previous citizenship upon naturalization.
Source: Singapore Economic Development Board
Panama Qualified Investor Visa (QIV)
- Minimum investment: $300,000
- Permanent residency: Immediately
- Pathway to Citizenship: After 5 years of continuous residence
- Stay requirement: Once every two years
- Family inclusion: Yes
- Processing time: 30 to 90 days
- GIU rank: 34th
The Panama Qualified Investor Visa (QIV) has one of the fastest routes for permanent residency in Central America.
The program grants permanent residency from the start, with processing in as little as 30 days. Applicants can qualify by investing $300,000 in real estate for new builds or $500,000 for property that has previously been marketed, occupied, leased, or transferred to an unrelated third party, $500,000 in Panamanian securities, or $500,000 in a fixed-term bank deposit in Banco Nacional de Panamá or Caja de Ahorros, or $750,000 in any Panamanian bank.
Family rules: Investors can include spouses, children, and parents in the same application, and only need to visit Panama at least once every two years.
Source: República de Panamá
Brazil Investment Visa (VIPER)
- Minimum investment: R$150,000 (approx USD $30,100)
- Permanent residency: After 4 years
- Pathway to Citizenship: total 8 years from application
- Stay requirement: 14 days in Brazil every two years
- Family inclusion: Yes
- Processing time: 3 to 8 months
- GIU rank: 25th
Brazil’s Investment Visa (VIPER) is one of the most affordable Golden Visas in 2026. Investors and family members can apply for permanent residency after 4 years and for citizenship after an additional 4 years.
Family rules: Spouses, partners, and dependent children can be added to the same investment visa application.
Source: Ministério das Relações Exteriores, Government of Brazil
Mauritius Golden Visa Scheme
- Minimum investment: $1 million
- Permanent residency: After 2 years
- Pathway to Citizenship: No
- Stay requirement: No
- Family inclusion: Yes
- Processing time: 5 days
- GIU rank: 35th
Mauritius launched its new Golden Visa program in 2026, with a fast application review process of five working days.
The country has set a quota of 100 visas a year, and the minimum investment amount is $1 million in high-value industries such as financial technology, global treasury, artificial intelligence, biotechnology, and renewable energy.
Family rules: Mauritius Residence by Investment applicants and their dependents (spouse and children) will be granted a renewable two-year visa in exchange for investing.
Visa holders will also have a dedicated concierge service to assist with the transition, including relocating their businesses to Mauritius.
Source: Economic Development Board, Mauritius
Bahamas Economic Permanent Residency
- Minimum investment: $1 million
- Permanent residency: Immediately
- Pathway to Citizenship: After 10 years
- Stay requirement: 90 days per year
- Family inclusion: Yes
- Processing time: 8 to 18 months
- GIU rank: 29th
The Bahamas Economic Residency (EPR) allows foreigners to obtain a permanent residence permit and live in The Bahamas indefinitely. Unlike the European Golden Visas, it does not grant the right to work, and an authorization is required for employment or business activities.
Family rules: Spouse and minor children can be included in the application.
Source: Bahamas Immigration Service
Hong Kong New Capital Investment Entrant Scheme (CIES)
- Minimum investment: HKD 30 million (approx USD $3,822,558)
- Permanent residency: 7 years
- Pathway to Citizenship: No
- Stay requirement: No
- Family inclusion: Yes
- Processing time: 6 to 9 months
- GIU rank: 19th
A financial gateway to mainland China, Hong Kong launched, in 2024, a residency program through capital deployment. It requires a minimum investment of HKD 30 million in permissible assets, along with proof of net assets of HKD 30 million or more.
Officially named the Capital Investment Entrant Scheme, the program grants an initial 24-month stay, renewable if the applicant meets the requirements. While there is no minimum stay requirement to hold the visa, those seeking permanent residency must have seven years of continuous residence in Hong Kong.
Family rules: Under the New CIES, applicants may be allowed to bring in their dependants, such as a spouse and unmarried dependent children under the age of 18 years old.
Source: New CIES, Government of Hong Kong
Montenegro Residency by Investment
- Minimum investment: €150,000
- Permanent residency: After 5 years
- Pathway to Citizenship: After 10 years
- Stay requirement: No
- Family inclusion: Yes
- Processing time: 1 to 3 months
- GIU rank: 39th
Positioned on the Adriatic coast, Montenegro rewards investors with a coastal lifestyle and one of the lowest tax rates in Europe.
Investors can move to Montenegro through its residency-by-investment program. There are two main pathways: Through real estate acquisition starting at €150,000 or by establishing a local company.
The Montenegro residence permit is issued for one year and renewed annually. After five years of continuous residence, applicants can apply for permanent residency.
Family rules: Spouses, children born in or out of wedlock, step children, and adopted children up to 18 years.
Montenegro is a candidate for EU accession, with a target timeline toward the end of 2028.
Source: Vlada Crne Gore, Government of Montenegro.
Closed or Restricted Programs
While Golden Visa programs have evolved over the years, offering different investment pathways or refining their requirements, some residency by investment programs have closed in recent years.
- Spain: Ended its Golden Visa on 3 April 2025, due to housing concerns and market pressure
- Ireland: Closed its Golden Visa on 15 February 2023 as the country shifted its policy regarding passive income from investors
- Netherlands: Ended on 17 April 2024 due to low demand and pressure from the EU regarding security and financial risks.
- UK: Closed its program on 17 February 2022 due to financial transparency concerns.
Some Golden Visa countries have seen restricted investment options and changes to the program, including Portugal, which ended its real estate route in October 2023. Greece has seen real estate investment increases in prime areas, and Latvia has seen investment option changes from 15 September 2026.
What are the benefits and limitations of Golden Visas?
1. Residence rights and increased global mobility
A Golden Visa provides greater freedom of movement for investors and their families. It grants the legal right to live in another country while, in some cases, also allowing visa-free travel to additional regions.
For example, most European Golden Visas allow visa-free travel across the 29 countries of the Schengen Area, one of the main advantages of these programs. Living abroad can also provide access to healthcare, education, and public services.
You will usually be required to maintain your investment to keep and renew your residency permit in the country.
2. Possible path to permanent residence or citizenship (dependent on the country)
Several Golden Visa programs, including those in Portugal, Greece, Italy, Malta, and New Zealand, can lead to permanent residency and even a second citizenship after a defined period. In some cases, citizenship can also be passed on to future generations, creating a long-term family legacy.
When it comes to routes to citizenship, it is important to bear in mind that nationality laws can change quickly. What is the rule of law today may change in the future, so you will need to weigh up this risk if citizenship is your long-term goal.
3. Family inclusion
Golden Visa programs allow applicants to include close family members in the same application. Depending on the country, this can include spouses, dependent children, and parents, giving families access to the same residence rights as you.
4. Low or no minimum stay requirements
Many Golden Visas do not require investors to relocate full-time. This allows applicants to maintain their residence permit while continuing to live, work, or operate a business elsewhere.
If citizenship is your end goal, however, many Golden Visa programs will require you to physically be resident in the country if you are seeking to ultimately secure citizenship, while others do not have this physical requirement.
5. Greater optionality and security
For many foreign investors, a Golden Visa is not about relocating straight away — it is about having a Plan B. Residence rights in another country provide greater flexibility if personal, political, or economic circumstances change, allowing Golden Visa holders and their families to plan for the long term.
How to Choose: Budget, Residence Plans and Family
Consider the following when weighing up which Golden Visa program could be the right fit for you and your family.
- Money available/budget: Latvia and Serbia offer the most affordable option in Europe, while Brazil also offers appealing options. Most European options fall between €150,000 and €300,000. The USA, UAE, New Zealand, Hong Kong, and Singapore require a larger investment.
- Time you spend in the country: Greece, Italy, Malta, the UAE, and Portugal are some of the countries that have no or very short minimum stay requirements. Countries such as the USA and Luxembourg require relocation.
- Family: Most Golden Visa and residency by investment options allow for family members to join you in the country, but make sure your dependents can be included before proceeding with a particular program.
- Long-term status: Take into consideration your ultimate long-term goals, whether it is permanent residency or citizenship, or if you are simply seeking a Plan B.
Global Citizen Solutions helped Gustavo Fonseca make a cultural donation to the Serralves Foundation in Porto so that he and his family can relocate to Portugal through the Golden Visa.
“We felt that the cultural donation was more along the lines of what we wanted to do, in a more altruistic way. It just felt better, so to speak,” he explains.
From documentation to submission and time-sensitive updates, GCS coordinated every step, ensuring a smooth and transparent Golden Visa process.
How to apply for a Golden Visa?
Step 01. Speak to advisors
Speaking to advisors helps you choose the Golden Visa program that best suits your goals and long-term plans.
At Global Citizen Solutions, our consultants help investors compare programs based on factors such as citizenship timelines, tax systems, processing times, family inclusion, and stay requirements. Professional guidance can also avoid delays caused by incomplete or incorrect documentation.
Step 02. Select an investment route
Once you choose a country, select a qualifying investment pathway. This can include real estate acquisition, investment funds, company shares, government bonds, bank deposits, or cultural donations.
Step 03. Gather the documentation
Golden Visa applications require supporting documents such as passports, proof of address, criminal record certificates, health insurance, and evidence showing the legal source of investment funds. Depending on the country, documents may also need to be translated, apostilled, or legalized.
Step 04. Submit the application
Once the documentation and investment route are finalized, the application is submitted to the relevant immigration or government authority.
Step 05. Receive the residence permit
Once the Golden Visa application process is finalized, applicants receive a residence permit. Depending on the country, the permit may be temporary or permanent from the start.
Step 06. Renew residency status
Many Golden Visa programs require permit renewals every few years. Conditions can include maintaining the investment, meeting minimum stay requirements, and updating documentation.
Step 07. Apply for permanent residency or citizenship
Some Golden Visa programs offer a pathway to permanent residency and citizenship after a defined period. Citizenship applications can include additional requirements such as language exams, physical residence periods, or integration tests.
How Can Global Citizen Solutions Help You?
Global Citizen Solutions is an advisory 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.
