Patricia Casaburi The Portugal Golden Visa provides investors with benefits similar to those of the Malta Golden Visa, but there are a few differences that can make it challenging to decide which one is best.
Both options allow non-EU citizens to invest in either country’s economy in exchange for residency.. However, the initial amount of capital required and lengthy bureaucratic processes could be a stumbling block for some.
In this article, we’ll compare the two residency by investment programs, taking a closer look at aspects such as:
What is the Portugal Golden Visa?
The Portugal Golden Visa is a five-year residency initiative for non-EU nationals who invest in the country. This program allows qualifying investors and their family members to live, work, and study in Portugal, and become permanent residents or apply forcitizenshipafter five years.
It is one of the most popular investment programs in Europe, and it is part of Portugal’s immigration strategy to attract foreign investment and stimulate the national economy.
Benefits of the Portugal Golden Visa
- Free movement: Access to 29 nations in the EU and visa-free travel to 172 nations
- Affordable investment: Options start from only €250,000
- Quick citizenship: Five years until you qualify for citizenship
- Financial stability: A sound investment in a buoyant market that can lead to real returns
- Live in your home country: Short stay requirement
 | How it works: Portugal's Golden Visa is relatively simple. You can apply for permanent residency or citizenship if you initiate and maintain your chosen investment for five years. |
What is the Malta Golden Visa?
Known by its official name of Malta Permanent Residence Programme (MPRP), the Malta residency by investment scheme allows non-EU citizens to get permanent residency in Malta through a three-part investment.
Since the primary goal is attracting investors to help improve Malta’s economy and society, investments include property or rental, government contributions to the National Development, Consolidated Fund and Social Fund, and donations to local charities.
Benefits of the Malta Golden Visa
- Free movement: Gain full access to live, work, and study in Malta
- Family Inclusive: Include up to 5 generations of family, including adult dependent children up to 29 years
- No physical stay requirement: You are not obligated to live in Malta permanently, nor visit Malta in order to uphold
- ETIAS and EES exemption: Holders are exempt from ETIAS requirements and EES biometric checks, ensuring hassle-free travel and smoother border crossings across Schengen countries.
| How it works: By making a qualifying investment, you can apply for permanent residency in a few months and obtain life-long residency for up to 5 generations of your family |
Portugal Golden Visa vs Malta Investment Options
One of the key differences between the two Golden Visa programs is the investment options. Portugal has several routes, whereas Malta requires investors to fulfill three conditions.
Portugal Golden Visa Investment Options
Investors have several options for where to funnel their money, including creating 10 jobs in Portugal, contributing to the restoration of Portuguese cultural facilities, or donating to scientific research.
- A minimum investment of €500,000 in a qualifying venture capital fund
- Investment or donation in the arts or reconstruction of national cultural heritage with a donation of at least €250,000
- Science or Technology research contribution of at least €500,000
- Creation and maintenance of ten jobs during the required period
- Venture capital fund of €500,000 for a commercial company with its head office in Portugal or reinforcement of a company’s share capital, combined with creating five or maintaining ten jobs (five of them permanent).
Malta Golden Visa Investment Options
To apply for the Malta Golden Visa and obtain a permanent resident permit, you have two options for real estate investment: you can either buy real estate or lease a property through a rental agreement.
Additionally, you are required to make government contributions to the National Development Fund, Consolidated Fund, and Social Fund, as well as to provide philanthropic donations. These investments should support Malta’s community and economy.
- Rent a property in Malta or Gozo for at least €14,000 per year, or buy a property in Malta or Gozo for at least €375,000
- Make a government contribution of €30,000 if you are purchasing a property or a contribution of €60,000 if you are renting a property.
- Donate €2,000 to a Maltese Non-Government Organization.
If you are renting a property, the lease must be held for at least five years and cannot be sublet during this time.
Take a Look at our Portugal Golden Visa Guide
Portugal vs Malta Golden Visa Eligibility
Portugal Golden Visa requirements
As with all visa and residency applications, Portugal’s Golden Visa has several requirements that must be fulfilled.
- Be either non-EU, non-Swiss, or non-EEA national
- Spend an average of seven days per year in Portugal
- Be at least 18 years old at the time of application
- Maintain the investment for a minimum of five years
- Have a clean criminal record
- Have valid health insurance
Malta Golden Visa requirements
Unlike Portugal, there is no minimum stay requirement for permanent residency in Malta. However, you must commit to holding your qualifying investments for at least five years. Additionally, there are several other requirements that must be met:
- Must be a non-EU citizen
- Be at least 18 years old at the time of application.
- Be able to invest the necessary amounts.
- Hold assets worth at least €500,000 of which €150,000 must be financial assets or assets worth €650,000 of which €75,000 are financial assets.
- Demonstrate sufficient financial resources to support yourself and any dependents
- Maintain valid health insurance that covers the entire European Union
- Must have a clean criminal record
Portugal vs Malta Golden Visa Application Process
In addition to a long list of required documents, if you want to apply for the Portugal Golden Visa, you must first get a tax identification number in Portugal and open a Portuguese bank account.
There are quite a few steps to take toward a successful Portuguese Golden Visa process, but thankfully, it is relatively straightforward. Our onboarding team will walk you through the steps, ensuring you comply with all the requirements.
However, the Malta Golden Visa is more complex. The Residency Malta Agency conducts a strict due diligence process to verify the validity of your application.
This process takes about 10-12 months and the stages include financial background checks, criminal record checks, verification of personal information, and health assessments.
Here is a general overview of how the multi-step process is conducted:
- Gather all the necessary documents.
- Sign a power of attorney document to give your licensed agent the authority to act on your behalf.
- Submit the application and pay the non-refundable application fee.
- Your application is presented to the Approvals Board and if approved, you will receive a Letter of Approval in Principle
- After being approved, make the qualifying investments within eight months.
- The four-tier due diligence process is conducted.
- You’ll get a letter of final approval once due diligence is completed.
- Travel to Malta, where your biometric data will be collected and the residency card issued. The card is valid for five years and renewable thereafter.
Take a Look at our Malta Golden Visa Guide
Cost of the Malta and Portugal Golden Visa
For both Golden Visa options, there are several fees beyond the initial investment. For example, Malta requires that you pay €15,000 at the initial application stage and €35,000 upon approval (€50,000 administrative fee in total).
To give a better idea of the total cost of the Malta Golden Visa, if you buy a property in Malta, it will cost you a minimum of €375,000, a government donation of €30,000, and a donation of €2,000 to an NGO, and the €50,000 non-refundable administrative fee, totaling €457,000.
If you are renting property, this means you’ll spend €70,000 on rent over five years, make the €60,000 government contribution, make the €2,000 NGO donation, and pay the €50,000 admin fee, for a total investment of €182,000.
For each additional dependent on your application, it will cost you an additional €10,000 per person.
In contrast, in addition to the minimum investment of €250,000, Portugal requires a €605.10 application fee for a single applicant, a €6,045.20 fee for the residency permit’s issuing, and €3,023.20 for every permit renewal, for a total cost of €12,696.70 per person.
Key Differences Between Portugal and Malta’s Golden Visa
It can be overwhelming to read through each Golden Visa’s aspects, especially if you are considering either one.
Here’s a comparison of the Portugal Golden Visa and the Malta Permanent Residence Program to help you digest the data and see which visa option best suits your circumstances.
Portugal Golden Visa | Malta Permanent Residence Programme (MPRP) | |
Program Type | Residency-by-investment | Permanent residency-by-investment |
Citizenship Timeline | Eligible for citizenship after 5 years | While not a direct path to citizenship, an individual could be approved for citizenship having shown significant ties to Malta (ie. Having lived physically in Malta for 10-15 years). |
Free Movement | Visa-free access to 172 countries; EU and Schengen mobility | Visa-free access to 172 countries; EU and Schengen mobility |
Investment Minimum | Starts from €250,000 | Total cost ranges from €182,000 (rental) to €457,000 (property purchase) |
Investment Options | Cultural, scientific, or venture capital funds; job creation | Real estate (rent or purchase) + government contribution + NGO donation |
Stay Requirement | Average of 7 days per year | No physical stay requirement |
Residency Type | Temporary residency leading to permanent residency or citizenship | Permanent residency from the outset |
Tax Benefits | Moderate; depends on tax residency status | Strong tax efficiency; no tax on global income or assets if not domiciled |
Application Complexity | Straightforward process; requires Portuguese NIF and bank account | Involves strict due diligence and multi-step process |
Approval Timeframe | Up to 24 months, due to ongoing backlog | Takes about 10–12 months |
Main Fees (Single Applicant) | ~€12,697 per person in government fees (excluding investment) | Up to €50,000 in administrative fees +€10,000per additional dependant |
Real Estate Option | No longer available | Required as part of investment—either rent (€14,000/year) or buy (€375,000) |
Eligibility Criteria | Non-EU/EEA/Swiss, 18+, clean record, valid health insurance, maintain investment | Non-EU, 18+, €500k+ in assets (with financial minimum), clean record, valid insurance |
Renewal & Maintenance | Renewable every 2 years; investment must be maintained | Residency card is valid 5 years and renewable; investment must be held for 5 years |
Dependents | Allowed, adult children up to 25 years | Allowed, adult children up to 29 years of age |
Why choose Global Citizen Solutions for your Immigration Visa?
GLOBAL APPROACH BY LOCAL EXPERTS
- GCS has offices located across Portugal.
- Members of the US-Portugal and UK-Portugal Chambers of Commerce in Portugal, and the Investment Migration Council (IMC).
- Our expert team can help you throughout your journey to secure your Visa.
100% APPROVAL RATE
- Our successful track record in applications provides reassurance to applicants.
- We have helped clients from more than 35 countries secure residency in Portugal.
ALL-ENCOMPASSING SOLUTION
- With a single channel of communication, our approach ensures that you have complete clarity on your application.
- Our BeGlobal® Onboarding System allows for a total flow of information.
TRANSPARENCY AND PRIVACY
- Our pricing is clear and detailed, you will not face any hidden costs.
- All data is stored within a GDPR-compliant database on a secure SSL-encrypted server.
Frequently Asked Questions About Malta vs Portugal Golden Visa
What are the key differences between the Portugal and Malta Golden Visa programs?
The main difference between the Portugal and Malta Golden Visa programs is that Portugal requires an investment starting at €250,000 and is a path that leads to citizenship, while Malta offers life-long residency through a residency path requiring a minimum contribution of €182,000.
Which is better for investors: Portugal or Malta Golden Visa?
Portugal is better for investors seeking citizenship as an end goal, potential returns on investment and with flexible stay requirements.. Malta suits investors prioritizinggenerational residency that can include adult children up to 29 years, with no minimum stay requirements residency through financial contributions.
What are the minimum investment requirements for Portugal and Malta Golden Visas?
The minimum investment for Portugal’s Golden Visa is a €250,000 donation or €500,000 in qualified investment funds. Malta’s residency pathway requires a minimum contribution of €€132,000 to the government, plus property rental or purchase. Both programs include additional fees and due diligence costs.
Which Golden Visa has better tax advantages: Portugal or Malta?
While neither program offers direct tax advantages, Malta offers significant tax advantages to physical residents. Individuals who are not domiciled in Malta are not taxed on foreign-sourced income and there is no tax on worldwide income or capital gains. In contrast, Portugal’s former NHR tax incentive has been discontinued for new applicants.
How long does it take to get a Golden Visa in Portugal vs. Malta?
The timeline for Portugal’s Golden Visa typically ranges from 18-24 months, depending on administrative delays at AIMA. In comparison, Malta’s PRP generally takes 10 to 12 months to complete; however, the process involves a more rigorous due diligence system.
Can you apply for citizenship with a Portugal or Malta Golden Visa?
Portugal’s Golden Visa program is a direct path to citizenship Holders can apply for Portuguese citizenship after maintaining their investment and legal residency for five years. In Malta, while permanent residency is granted relatively quickly, in order to be considered for citizenship, individuals need to hold significant ties to Malta, having lived physically in the country for 10-15 years. So it is therefore not considered a direct path to citizenship.
Which Golden Visa is easier to maintain: Portugal or Malta?
Both Malta’s and Portugal’s residency programs have distinct compliance requirements. Malta’s program necessitates a permanent address for renewing the 5-year residency permit, while Portugal’s Golden Visa requires ongoing investment but only demands an average of seven days of physical presence per year. Portugal allows for earlier program exit through permanent residence or citizenship applications once eligible, whereas Malta offers lifelong residency but requires ongoing compliance for permit renewal beyond five years. In summary, Portugal provides more flexibility to exit the program, while Malta requires continued commitment for access.
Is Portugal or Malta the better choice for retirement with a Golden Visa?
Portugal offers a lower cost of living, excellent healthcare, a mild climate, and a strong expat community, especially in regions like the Algarve. Malta has a favorable tax regime and is well-connected in Europe, it comes with a higher cost of living and less geographic variety. However, you need to weigh up your situation to see where it fits in the best.
