Golden Visa Programs Through Real Estate Investment
Real estate remains the most popular investment vehicle for golden visa programs. Property-based qualification appeals to investors who want a tangible asset alongside their residency or citizenship. Programs in Greece, Portugal, Turkey, Spain (now closed), Cyprus, and the Caribbean all accept property investment. Investment thresholds and property types vary, from residential apartments to commercial developments and government-approved projects.
Programs
32
Countries
29
Types
CBI & RBI
From
Income-based
Key Takeaways
- ✓ Greece Golden Visa qualifies through EUR 250,000+ property purchase
- ✓ Turkey CBI requires $400,000 in real estate held for 3 years
- ✓ Caribbean CBI programs offer real estate options alongside government fund donations
- ✓ Portugal Golden Visa restructured away from residential property in Lisbon/Porto, now requires fund or commercial investment
All Programs at a Glance
Sorted by minimum investment. Click any country to explore in detail.
| Country | Program | Type | Min. Investment | Processing | Citizenship Path |
|---|---|---|---|---|---|
| 🇪🇸 Spain | Non-Lucrative Visa | RBI | Income-based | 5 months | 10 years |
| 🇮🇹 Italy | Elective Residence Visa | RBI | Income-based | 3-6 months | 10 years |
| 🇱🇻 Latvia | Golden Visa | RBI | €50,000 | 1-3 months | 10 years (PR after 4 years) |
| 🇰🇠Cambodia | Cambodia My Second Home (CM2H) | RBI | $100,000 | 4-6 months | 5 years (by naturalization under 1996 Nationality Law) |
| 🇲🇾 Malaysia | MM2H Silver | RBI | $150,000 | 2-3 months | No direct path |
| 🇲🇹 Malta | Malta Permanent Residence (MPRP) | RBI | €150,000 | 4-6 months | No direct path |
| 🇨🇷 Costa Rica | Investor Residency | RBI | $150,000 | 3-6 months | 7 years |
| 🇩🇲 Dominica | Citizenship by Investment | CBI | $200,000 | 3-4 months | Direct |
| 🇵🇦 Panama | Friendly Nations Visa | RBI | $200,000 | 3-6 months | 5 years |
| 🇲🇾 Malaysia | Premium Visa Programme (PVIP) | RBI | $215,000 | 4-6 weeks | No direct path |
| 🇦🇬 Antigua and Barbuda | Citizenship by Investment | CBI | $230,000 | 3-6 months | Direct |
| 🇬🇩 Grenada | Citizenship by Investment | CBI | $235,000 | 4-6 months | Direct |
| 🇱🇨 St Lucia | Citizenship by Investment | CBI | $240,000 | 3-4 months | Direct |
| 🇬🇷 Greece | Golden Visa | RBI | €250,000 | 2-3 months | 7 years |
| 🇰🇳 St Kitts and Nevis | Citizenship by Investment | CBI | $250,000 | 3-6 months | Direct |
| 🇪🇬 Egypt | Citizenship by Investment | CBI | $250,000 | 6-12 months | Direct |
| ðŸ‡ðŸ‡º Hungary | Guest Investor Program (Golden Visa) | RBI | €250,000 | 3-6 months | 8 years + language exam |
| 🇧🇿 Belize | Investor Residency | RBI | $250,000 | 3-6 months | 5 years |
| 🇯🇴 Jordan | Investor Residency (Real Estate) | RBI | $280,000 | 2-4 months | Not direct (residency only) |
| 🇨🇾 Cyprus | Permanent Residence Permit | RBI | €300,000 | 2-3 months | 7 years (by naturalization) |
| 🇮🇩 Indonesia | Golden Visa | RBI | $350,000 | 1-3 months | No direct path |
| 🇲🇺 Mauritius | Residence via Property (IRS / RES / PDS / SCS) | RBI | $375,000 | 2-4 months | No direct path |
| 🇹🇷 Turkey | Citizenship by Investment | CBI | $400,000 | 6-12 months | Direct |
| 🇲🇾 Malaysia | MM2H Gold | RBI | $500,000 | 3 months | No direct path |
| 🇵🇹 Portugal | Golden Visa (ARI) | RBI | €500,000 | 12-18 months | 5 years |
| 🇹🇠Thailand | Long-Term Resident Visa (LTR) | RBI | $500,000 | 2-3 months | No direct path |
| 🇲🇨 Monaco | Residence Permit (Carte de Séjour) | RBI | €500,000 | 2-6 months | 10 years (application to the Prince; dual citizenship not permitted at naturalisation) |
| 🇲🇾 Malaysia | MM2H Platinum | RBI | $1,000,000 | 3 months | No direct path |
| 🇦🇩 Andorra | Passive Residence Permit | RBI | €1,000,000 | 2-3 months | 20 years |
| 🇦🇪 UAE | Golden Visa | RBI | AED2,000,000 | 1-3 months | No direct path (UAE does not offer CBI) |
| 🇳🇿 New Zealand | Active Investor Plus | RBI | NZD 5,000,000 | 6-12 months | 5 years |
| ðŸ‡ðŸ‡° Hong Kong | Capital Investment Entrant Scheme (CIES) | RBI | HKD 30,000,000 | 6-12 months | 7 years (permanent residency) |
Explore Each Program
Detailed cards with investment requirements, timelines, and key benefits.
Non-Lucrative Visa
Income-based
Proof of passive income of ~€2,300/month (400% of Spain's IPREM index) for main applicant, plus ~€575/month per dependent. Private health insurance mandatory. Property lease or purchase required. Cannot work for Spanish employers.
5 months
183+ days/year in Spain (6 months continuous absence risks permit loss)
1 year (renewable)
No
10 years
191
- ✓ No investment required — income-based route only
- ✓ Beckham Law available: flat 24% tax on Spanish income for first 6 years
- ✓ Pension, dividend, and rental income all qualify as passive income
Elective Residence Visa
Income-based
Proof of stable passive income (no fixed minimum, typically €31K+/year) + property.
3-6 months
Must reside in Italy (183+ days/year). No work permitted.
1 year (renewable)
No
10 years
191
- ✓ Income-based, no investment required
- ✓ Cannot work in Italy
- ✓ Flat tax regime available
Golden Visa
€50,000
Real estate: €250K+ in Riga or within 30km (freehold, 5-year hold, +5% government fee). Business: €50K into Latvian company (<50 employees) or €100K (50+ employees), plus €10K government fee. Bank deposit: €280K fixed for 5 years. Income proof: €2,220/month required.
1-3 months
Must maintain investment
5 years (renewable)
Yes
10 years (PR after 4 years)
188
- ✓ Lowest EU Golden Visa business investment route at €50K
- ✓ Corporate tax on distributed profits only — reinvested profits untaxed
- ✓ Permanent residency available after 4 years
Cambodia My Second Home (CM2H)
$100,000
$100K+ in approved real estate project (government-approved developments only, including residential and mixed-use in Phnom Penh). Includes KHCA membership fee. Total cost typically $50K–$100K depending on chosen project. Work rights included from day one.
4-6 months
Minimal
10 years
Yes
5 years (by naturalization under 1996 Nationality Law)
54
- ✓ USD de facto currency — eliminates exchange rate risk for dollar investors
- ✓ Citizenship eligible after 5 years — fastest path to SE Asian passport
- ✓ Work rights included — unlike some competing programs
MM2H Silver
$150,000
RM 500K fixed deposit in Malaysian bank + mandatory property purchase RM 600K+. Proof of RM 1.5M liquid assets and RM 40K/month offshore income required. Up to 50% FD withdrawal allowed after 1 year for property, healthcare, or education.
2-3 months
90 days/year
5 years (renewable)
No
No direct path
180
- ✓ Property purchase mandatory — minimum RM 600K
- ✓ Cannot work or do business in Malaysia
- ✓ RM 40K/month offshore income required
Malta Permanent Residence (MPRP)
€150,000
Government contribution (€68K-€98K) + property purchase (€300K+) or rent (€12K/year) + €2K donation.
4-6 months
Minimal
Permanent
No
No direct path
188
- ✓ 4-generation family inclusion (most generous in EU)
- ✓ Schengen access
- ✓ Permanent residence
Investor Residency
$150,000
$150K+ in real estate (must be in applicant's personal name), business investment, private equity funds, shares, securities, or sustainable tourism projects. Note: $150K is a temporary threshold (reduced from $200K under Law No. 9996); may revert to $200K if not extended past mid-2026.
3-6 months
Visit once/year minimum
2 years (renewable, PR after 3 years)
No
7 years
153
- ✓ Territorial tax — foreign income fully exempt
- ✓ No military since 1948 — one of Latin America's most stable democracies
- ✓ Permanent residency available after 3 years of actual residence
Citizenship by Investment
$200,000
$200K donation to Economic Diversification Fund or $200K+ real estate (3-year hold).
3-4 months
None
Citizenship (permanent)
Yes
Direct
145
- ✓ Most affordable CBI globally
- ✓ No residency or visit requirement
- ✓ No interview required
Friendly Nations Visa
$200,000
$200K+ in Panamanian real estate or 3-year Certificate of Deposit in a Panamanian bank. Alternatively, employment with a Panamanian company qualifies. Provisional residency within ~72 hours, permanent residency after 2 years. Available to 50+ eligible nationalities including US, UK, EU, and most Commonwealth countries.
3-6 months
Visit every 2 years
Permanent Residence
Yes
5 years
143
- ✓ Territorial tax — zero tax on all foreign-source income
- ✓ USD-based economy — no currency risk for dollar-denominated wealth
- ✓ Provisional residency granted in ~72 hours
Premium Visa Programme (PVIP)
$215,000
RM 1,000,000 fixed deposit in Malaysian bank (approx. USD 215K; up to 50% withdrawable after 6 months for approved uses). Requires RM 40K/month offshore income and proof of RM 10M+ in global assets. No property purchase required.
4-6 weeks
None specified
20 years (5-year renewal cycles)
Yes
No direct path
180
- ✓ No property purchase required — only Malaysia program with this
- ✓ Full work, business, and directorship rights
- ✓ 20-year renewable visa with 4-6 week processing
Citizenship by Investment
$230,000
$230K donation to National Development Fund (covers family of up to 4 at same price, unique among Caribbean CBI). Or $260K University of the West Indies Fund (family of up to 6, one member enrolled, inclusive of processing fees). Or $300K+ real estate (5-year hold, joint investment option: two families invest $200K each in same property). Or $1.5M direct business investment.
3-6 months
5 days in first 5 years
Citizenship (permanent)
Yes
Direct
154
- ✓ Family of 4 covered at same $230K donation price (best family value in Caribbean CBI)
- ✓ Only Caribbean CBI with any residency requirement (just 5 days in 5 years)
- ✓ UK access via Electronic Travel Authorisation (ETA, £20, valid 2 years)
Citizenship by Investment
$235,000
$235K donation to National Transformation Fund (single applicant or family of up to 4), or $270K+ shared real estate (+$50K NTF), or $350K+ sole ownership real estate (+$50K NTF).
4-6 months
None
Citizenship (permanent)
Yes
Direct
147
- ✓ E-2 treaty with US (can apply for US investor visa)
- ✓ Only Caribbean CBI with US E-2 access
- ✓ Visa-free access to China and Russia
Citizenship by Investment
$240,000
$240K donation to National Economic Fund (single applicant; $300K for family of 4). Or $300K+ approved real estate (5-year hold). Or $300K+ government bond (non-interest-bearing, 5-year hold, plus administration fee set by the CIU). Or enterprise investment from $3.5M (3+ jobs created).
3-4 months
None
Citizenship (permanent)
Yes
Direct
144
- ✓ UK: full Standard Visitor visa required (added to UK visa national list April 2026)
- ✓ Schengen visa-free; 144 countries total (Henley March 2026)
- ✓ Only Caribbean CBI with a capital-recoverable bond route
Golden Visa
€250,000
Property: €800K in Athens/Thessaloniki/Mykonos/Santorini, €400K other areas, €250K for commercial-to-residential conversions only. Also bank deposits (€500K), gov bonds (€500K), funds (€350K).
2-3 months
No minimum stay
5 years (renewable)
No
7 years
188
- ✓ Broadest family inclusion in EU (parents + in-laws of both partners)
- ✓ No stay requirement
- ✓ Schengen access
Citizenship by Investment
$250,000
$250K Sustainable Island State Contribution (SISC, flat rate for family of up to 4). Real estate: $325K+ (Developer's Real Estate, 7-year hold) or $600K+ (Private Real Estate, 7-year hold).
3-6 months
None (genuine-link due diligence required)
Citizenship (permanent)
Yes
Direct
157
- ✓ No mandatory physical residency requirement for citizenship
- ✓ Genuine-link principle enforced: enhanced due diligence, background checks, no illicit ties (CARICOM 2024 agreement)
- ✓ Oldest CBI program (since 1984)
Citizenship by Investment
$250,000
$250K+ real estate or $300K+ government treasury deposit (refundable after 5 years).
6-12 months
None
Citizenship (permanent)
Yes
Direct
53
- ✓ Affordable entry point for CBI
- ✓ Property investment qualifies
- ✓ Treasury deposit is refundable
Guest Investor Program (Golden Visa)
€250,000
€250K in HNB-approved residential real estate fund (40%+ of NAV in Hungarian residential property, 5-year minimum hold). Or €1M non-refundable donation to a public interest trust supporting Hungarian higher education. Direct real estate route removed January 2025.
3-6 months
Must maintain investment
10 years (renewable)
Yes
8 years + language exam
188
- ✓ Lowest-cost EU Golden Visa entry point at €250K (fund route)
- ✓ 10-year renewable permit — longest duration in EU
- ✓ Flat 15% personal income tax, 9% corporate tax (lowest in EU)
Investor Residency
$250,000
$250K+ real estate investment.
3-6 months
Approximately 1 visit per year (not strictly quantified in statute)
Permanent
Yes
5 years
96
- ✓ Only English-speaking country in Central America — common law legal system
- ✓ No capital gains tax on any asset class
- ✓ Territorial tax — all foreign income exempt
Investor Residency (Real Estate)
$280,000
JOD 200,000 (~USD 280K) in qualifying real estate from licensed developers. Grants investor residency (not citizenship). Renewable while the property is held.
2-4 months
None specified
Renewable residency (property-linked)
No
Not direct (residency only)
51
- ✓ Real-estate-backed residency at JOD 200K, no citizenship path
- ✓ Distinct from the full CBI routes (which were restructured July 2025)
- ✓ Suitable for applicants wanting regional presence without the full citizenship threshold
Permanent Residence Permit
€300,000
Property purchase (€300K+ new build from developer).
2-3 months
Visit once every 2 years
Permanent
No
7 years (by naturalization)
176
- ✓ 12.5% corporate tax, no inheritance tax, 15-year non-dom regime
- ✓ €50,000/year foreign-source income required (plus €15,000 per dependent)
- ✓ Fast processing
Golden Visa
$350,000
Passive investor (individual): $350K for 5-year visa or $700K+ for 10-year visa in government bonds, public company shares, or bank deposits. Entrepreneur (establishing company): $2.5M (5-year) or $5M (10-year). No property purchase option — financial instruments only.
1-3 months
No physical presence requirement
5-10 years
Yes
No direct path
78
- ✓ No residency requirement — full 5 or 10-year validity without presence
- ✓ Entry-level passive investor route starts at $350K (5-year)
- ✓ 5-year visa upgradeable to 10-year by meeting higher threshold
Residence via Property (IRS / RES / PDS / SCS)
$375,000
$375,000+ in an approved Integrated Resort Scheme (IRS), Real Estate Scheme (RES), Property Development Scheme (PDS), or Smart City Scheme (SCS) property. Grants permanent residence directly on purchase, covering the investor and immediate family. Government tax of $70K applies for IRS specifically. Registration duty and land transfer tax rising from 5% to 10% from July 2026. 85% of purchase price must be paid in Mauritius rupees (from December 2024).
2-4 months
None (PR is granted regardless of physical presence)
Permanent Residence
Yes
No direct path
148
- ✓ Permanent residence granted directly on property purchase, no separate application
- ✓ 15% flat tax on all income; no capital gains, no inheritance, no wealth tax
- ✓ 45+ double taxation treaties, premier Africa/India investment holding jurisdiction
Citizenship by Investment
$400,000
Property purchase ($400K+) or bank deposit ($500K+) or government bonds ($500K+).
6-12 months
None
Citizenship (permanent)
Yes
Direct
118
- ✓ Strategic location (Europe/Asia bridge)
- ✓ E-2 treaty with US
- ✓ Property can be sold after 3 years
MM2H Gold
$500,000
RM 1M fixed deposit in Malaysian bank + mandatory property purchase RM 1M+. Proof of RM 1.5M liquid assets and RM 50K/month offshore income required. Up to 50% FD withdrawal allowed after 1 year for approved purposes.
3 months
90 days/year
15 years (5-year renewal cycles)
No
No direct path
180
- ✓ 15-year visa — longest among MM2H tiers after Platinum
- ✓ Property purchase mandatory — minimum RM 1M
- ✓ RM 50K/month offshore income required
Golden Visa (ARI)
€500,000
Qualifying investment fund (€500K min, 60%+ allocated to Portugal-based companies, 5-year lock-up). Also: €250,000 standard contribution to Portuguese cultural heritage, artistic production, or national scientific research (Law 56/2023). Reduced to €200,000 for projects in low-population-density regions including Azores, Madeira, and interior NUTS III areas. €1.5M capital transfer. Job creation (10 positions). Property route closed Oct 2023.
12-18 months
7 days/year average
2 years (renewable)
Yes
5 years
191
- ✓ Only 7 days/year physical presence required
- ✓ Path to EU passport in 5 years — one of Europe's fastest
- ✓ IFICI flat tax regime (20% on qualifying PT income, 10 years)
Long-Term Resident Visa (LTR)
$500,000
Wealthy Global Citizen: $1M+ in assets with $500K invested in Thai government bonds, real estate, or FDI. Income requirement removed for this category since Feb 2025. Wealthy Pensioner: $1M assets or $80K/year income. Work-from-Thailand professional: $80K/year income, 5 years experience.
2-3 months
Annual reporting (vs 90-day reporting for standard visas)
10 years
Yes
No direct path
79
- ✓ Four distinct categories — wealthy global citizen, pensioner, remote worker, skilled professional
- ✓ Flat 17% income tax rate for qualifying work-from-Thailand holders
- ✓ Foreign income brought into Thailand exempt from Thai personal income tax
Residence Permit (Carte de Séjour)
€500,000
Minimum ~€500K bank deposit with a Monaco-licensed bank (bank-set threshold, not legislated). Secure housing in Monaco (rental ~€3,000-5,000/month minimum for a studio; purchase typically €3M+ for a one-bedroom). Proof of financial self-sufficiency, clean criminal record, and private health insurance required.
2-6 months
Genuine residence required (no hard day-count in law; renewal requires demonstrated actual presence)
1 year (renewable)
No
10 years (application to the Prince; dual citizenship not permitted at naturalisation)
- ✓ Zero income tax since 1869 (French nationals excepted under 1963 bilateral convention)
- ✓ Bank deposit is your money in your account, not a fee, but bank sets the floor at ~€500K
- ✓ Housing cost is the real barrier: Monaco is the world's most expensive real estate per sqm
MM2H Platinum
$1,000,000
USD 1,000,000 fixed deposit in Malaysian bank (approx. RM 4.4M-4.7M depending on exchange rate) + mandatory property purchase RM 2M+ + participation fee RM 200K. Proof of RM 1.5M liquid assets and RM 60K/month offshore income required. Work and business rights included.
3 months
90 days/year
20 years (5-year renewal cycles)
Yes
No direct path
180
- ✓ Full work and business rights (only MM2H tier with this)
- ✓ 20-year visa, longest of all MM2H tiers
- ✓ USD 1M fixed deposit + RM 2M property + RM 200K participation fee
Passive Residence Permit
€1,000,000
€1M minimum investment in Andorran assets (real estate, shares, or bank deposits) + €50K government deposit under 2026 regulations. Alternative: €400K via the Andorran Housing Fund.
2-3 months
90 days/year
1 year (renewable)
No
20 years
- ✓ Residency only — no Andorran passport; your home-country passport continues to govern travel
- ✓ Zero tax on foreign-source income — Andorran income taxed at max 10%
- ✓ Only 90 days/year physical presence needed
Golden Visa
AED2,000,000
Property: AED 2M+ (equity portion, no 50% threshold since Feb 2026 — off-plan and mortgaged accepted). Or: AED 2M+ public investment/deposits. Entrepreneurs: AED 500K+ in approved startup. Expanded categories include content creators, educators, nurses (15+ years), e-sports professionals.
1-3 months
None (can stay outside UAE without visa cancellation)
10 years (renewable)
Yes
No direct path (UAE does not offer CBI)
183
- ✓ Zero personal income tax — no employment, investment, or capital gains tax
- ✓ Off-plan and mortgaged property now qualify (rule change Feb 2026)
- ✓ Can sponsor unlimited family members including adult children
Active Investor Plus
NZD 5,000,000
Growth category: NZD 5M+ in approved managed funds or NZ business direct investment, held 3 years (21 days/year stay). Balanced category: NZD 10M+ in mixed investments including bonds and new residential property, held 5 years (105 days/year stay). Both restructured April 2025.
6-12 months
21 days/3 years (Growth) or 105 days/5 years (Balanced)
4 years (leads to PR)
Yes
5 years
189
- ✓ Two-tier structure since April 2025 — Growth (NZD 5M) or Balanced (NZD 10M)
- ✓ Growth category: only 21 days presence over 3-year investment term
- ✓ No capital gains tax on shares or portfolio investments
Capital Investment Entrant Scheme (CIES)
HKD 30,000,000
HKD 30M (~$3.8M USD) in permissible financial assets. No property.
6-12 months
Must ordinarily reside in HK
2 years (renewable, leads to PR at 7 years)
Yes
7 years (permanent residency)
171
- ✓ No capital gains tax, no dividend tax, no estate duty — territorial tax system
- ✓ HKD 30M threshold (up from HKD 10M) — property excluded, financial assets only
- ✓ Relaunched 2024 after 9-year suspension (2015–2024)
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