Investor & founder routes
Which countries still offer a golden visa for real estate?
As of September 2026, the main European golden visas that still accept a property purchase are Greece (€400,000 in most regions, €800,000 in Athens, Thessaloniki and the major islands), Cyprus (€300,000) and Latvia (€250,000); Malta and the UAE also have property routes. Portugal closed its property route in October 2023 and Spain closed its whole program in April 2025. The United States has no property-based visa: EB-5 requires a job-creating business, and a personal residence does not count.
Primary legal authority
- Greek Law 5100/2024 (procedure: Law 5275/2026) — Sets the €800,000 / €400,000 / €250,000 zone-based property thresholds, the 120 m² minimum and the short-term rental ban.
- Portuguese Law 56/2023 ('Mais Habitação') — In force October 7, 2023 — removed all property and capital-transfer routes from Portugal's golden visa.
- Spanish Organic Law 1/2025 — Published January 2, 2025; abolished the investor residence (golden visa) with effect from April 3, 2025.
- 8 CFR §204.6(e) — U.S. EB-5: a commercial enterprise excludes 'owning and operating a personal residence.'
What a golden visa is — and is not
A golden visa is a residence permit granted for an investment, most often a property purchase. It lets you live in the country and, for EU members in the Schengen area, travel freely across Schengen. It is not citizenship. Citizenship comes later, under each country's nationality law, and usually requires years of actual residence, language and tests.
Rules have changed quickly. Between 2022 and 2025 the United Kingdom, Ireland, Portugal (property only), Spain, Hungary (direct property) and Malta (citizenship) all closed routes. Check the date on any figure you read, including these.
Property routes that are open (as of September 2026)
Greece: €800,000 for one property of at least 120 m² in Attica (Athens), Thessaloniki, Mykonos, Santorini and islands with more than 3,100 residents; €400,000 elsewhere; €250,000 only for a commercial-to-residential conversion or a listed-building restoration. Five-year renewable permit, no minimum stay. Short-term (platform) rental of the property is banned and can cost you the permit.
Cyprus: €300,000 plus VAT in new residential property (or commercial property or fund units), plus at least €50,000 a year of secured income from abroad. Permanent residence; one visit every two years. Not in Schengen. (Trade-press figures.)
Latvia: €250,000 in property plus a 5% state fee. Schengen residence permit, no minimum stay. (Trade-press figures.)
Malta: the Permanent Residence Programme combines a government contribution with a property purchase or lease; amounts vary by route and family size. Malta's citizenship-by-investment scheme closed in April 2025 after the EU Court of Justice ruled against it.
United Arab Emirates: the official portal lists a 10-year visa for public investment with minimum capital of AED 2 million and a 5-year visa for real estate investors. No path to citizenship. Confirm the property threshold with ICP/GDRFA.
Turkey and several Caribbean countries also grant citizenship, not just residence, for property — those are citizenship-by-investment programs with their own rules.
Property routes that have closed
Portugal: all property and capital-transfer routes ended October 7, 2023 under Law 56/2023. The golden visa itself continues through investment funds (€500,000), research, culture and job creation. Separately, Portugal's 2026 nationality law now requires seven years of residence (EU and Portuguese-speaking nationals) or ten years (everyone else), counted from when the permit is issued — applications filed on or before May 18, 2026 stay under the old five-year rule.
Spain: the entire golden visa, including the €500,000 property route, ended April 3, 2025 under Organic Law 1/2025. Permits approved before then remain renewable.
Hungary: the €500,000 direct property route was removed by decree in December 2024, before its January 1, 2025 start date, and never opened. Only the €250,000 real-estate fund route remains.
Ireland (February 2023), the United Kingdom (February 2022) and the Netherlands have closed their investor programs with no replacement.
The United States is different
There is no U.S. golden visa in the property sense. The investor green card, EB-5, requires $800,000 or $1,050,000 in a business that creates at least 10 full-time jobs, and the regulation expressly excludes a personal residence. The E-2 treaty investor visa needs an active operating business, not passive property.
The 'Trump Gold Card' announced in 2025 is a payment of $1 million (individual) or $2 million (corporate) to the government, created by executive order rather than by Congress. It is not an investment, involves no property, and is being challenged in federal court (AAUP v. DHS, D.D.C., filed February 2026). Treat it as unsettled.
Before you buy
Check the minimum size and single-property rules (Greece), rental restrictions, how long you must hold the property, whether the visa needs you to be physically present, and what counts as proof of the source of your funds. Ask a tax adviser where you will be tax-resident — a residence permit and tax residency are different questions.
None of this is a recommendation to buy anything or a determination that you qualify. Use a licensed immigration lawyer in the country you are considering.
Frequently asked questions
Does the United States have a golden visa?
Not in the property sense. EB-5 is the U.S. investor green card and requires a job-creating business — a personal residence is excluded by 8 CFR §204.6(e). The 2025 'Gold Card' is a non-refundable payment created by executive order and is under legal challenge; it is not a property route.
Can I still get a Portuguese golden visa by buying property?
No. Law 56/2023 removed every property route from October 7, 2023. Portugal's golden visa continues through investment funds (from €500,000), research, culture and job creation.
Is Spain's golden visa still available?
No. Organic Law 1/2025 ended Spain's investor residence program on April 3, 2025. Permits granted before that date remain renewable.
What is the cheapest property golden visa in Europe?
As of September 2026: Greece at €250,000, but only for a commercial-to-residential conversion or listed-building restoration; otherwise Latvia at €250,000 plus a 5% fee, Cyprus at €300,000 plus VAT, and Greece at €400,000 outside its premium zones.
Do I have to live in the country to keep a golden visa?
It depends. Greece, Latvia, Hungary, Italy and Malta require no minimum stay; Portugal requires about seven days a year; Cyprus requires one visit every two years. Citizenship, by contrast, normally requires years of real residence.
Does a golden visa give me EU citizenship?
No. It gives residence. Citizenship follows each country's nationality law — for example seven years of residence in Greece, and since May 2026 seven or ten years in Portugal depending on your nationality.
JustiGuide provides legal information, not legal advice, and is not a law firm. This page is a general overview and is not a substitute for advice about your specific situation from a licensed immigration attorney. Last reviewed 2026-09-01.