Golden Visa & Residency Programs in Europe
Europe offers the widest range of residency and citizenship by investment programs globally. Options range from Portugal's restructured Golden Visa and Greece's property-based permit to Malta's citizenship pathway and Switzerland's lump-sum taxation regime. Most European RBI programs grant Schengen-area travel rights, and several provide a clear path to EU citizenship within 5 to 10 years. Investment thresholds span from income-based programs with no minimum capital outlay (Italy, Spain, Croatia) to seven-figure deposit requirements (Ireland, Andorra, Monaco). Tax treatment varies significantly: Portugal's NHR successor regime, Italy's flat-tax option for new residents, and Malta's remittance-based system each suit different financial profiles.
Countries
17
Programs
23
Program Types
CBI & RBI
From
Income-based
Key Takeaways
- ✓ Most programs grant Schengen-area travel and EU residency rights
- ✓ Investment minimums range from €0 (income-based) to €1M+ (Ireland, Andorra)
- ✓ Processing times vary from 2 months (Latvia) to 12+ months (Malta CBI)
- ✓ Several programs offer a path to EU citizenship within 5-10 years
All Europe Programs at a Glance
Sorted by minimum investment. Click any country to explore in detail.
| Country | Program | Type | Min. Investment | Processing | Citizenship Path |
|---|---|---|---|---|---|
| 🇭🇷 Croatia | Digital Nomad Visa | RBI | Income-based | 1-2 months | No direct path |
| 🇭🇷 Croatia | Temporary Residence for Business Activity | RBI | Income-based | 1-3 months | 8 years (5 years continuous residence + 3 years permanent residence) |
| 🇮🇹 Italy | Elective Residence Visa | RBI | Income-based | 3-6 months | 10 years |
| 🇵🇹 Portugal | D7 Passive Income Visa | RBI | Income-based | 3 months | 5 years |
| 🇪🇸 Spain | Non-Lucrative Visa | RBI | Income-based | 5 months | 10 years |
| 🇪🇸 Spain | Digital Nomad Visa | RBI | Income-based | 1-3 months | 10 years |
| 🇱🇻 Latvia | Golden Visa | RBI | €50,000 | 1-3 months | 10 years (PR after 4 years) |
| 🇦🇹 Austria | Residence Permit (Financially Independent) | RBI | €100,000 | 3-6 months | 10 years (6 years under certain conditions) |
| 🇲🇹 Malta | Malta Permanent Residence (MPRP) | RBI | €150,000 | 4-6 months | No direct path |
| 🇬🇷 Greece | Golden Visa | RBI | €250,000 | 2-3 months | 7 years |
| 🇭🇺 Hungary | Guest Investor Program (Golden Visa) | RBI | €250,000 | 3-6 months | 8 years + language exam |
| 🇮🇹 Italy | Investor Visa | RBI | €250,000 | 3-6 months | 10 years |
| 🇨🇾 Cyprus | Permanent Residence Permit | RBI | €300,000 | 2-3 months | 7 years (by naturalization) |
| 🇹🇷 Turkey | Citizenship by Investment | CBI | $400,000 | 6-12 months | Direct |
| 🇲🇪 Montenegro | Citizenship by Investment | CBI | €450,000 | 3-6 months | Direct |
| 🇨🇭 Switzerland | Lump-Sum Taxation Residence | RBI | CHF 450,000 | 3-6 months | 10 years (12 years for non-EU nationals) |
| 🇲🇨 Monaco | Residence Permit (Carte de Séjour) | RBI | €500,000 | 2-6 months | 10 years (application to the Prince; dual citizenship not permitted at naturalisation) |
| 🇵🇹 Portugal | Golden Visa (ARI) | RBI | €500,000 | 12-18 months | 5 years |
| 🇪🇸 Spain | Golden Visa | RBI | €500,000 | 2-6 months | 10 years |
| 🇧🇬 Bulgaria | Investor Residence Permit | RBI | €512,000 | 3-6 months | 5 years (PR), then citizenship after additional residency |
| 🇲🇹 Malta | Citizenship by Naturalization (MEIN) | CBI | €600,000 | 12-14 months | Direct (12-36 months) |
| 🇦🇩 Andorra | Passive Residence Permit | RBI | €1,000,000 | 2-3 months | 20 years |
| 🇮🇪 Ireland | Immigrant Investor Programme (IIP) | RBI | €1,000,000 | 6-9 months | 5 years (by naturalization) |
Explore Each Program
Detailed cards with investment requirements, timelines, and key benefits.
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
Residence Permit (Financially Independent)
€100,000
€100K+ in demonstrable financial means. No specific investment vehicle required but must prove financial independence.
3-6 months
Must reside in Austria
1 year (renewable, PR after 5 years)
No
10 years (6 years under certain conditions)
191
- ✓ Vienna rated world's most livable city multiple years running
- ✓ Strict annual quota — apply early in the year, spots fill fast
- ✓ German language certification required for permit renewals
Investor Residence Permit
€512,000
€512K+ investment in Bulgarian government bonds, business, or designated projects.
3-6 months
Must maintain investment
1 year (renewable, PR after 5 years)
Yes
5 years (PR), then citizenship after additional residency
175
- ✓ Lowest flat tax in the EU — 10% personal and 10% corporate
- ✓ Joined Air Schengen 2024 — full land border Schengen access pending
- ✓ EU citizenship path — one of Europe's lowest-cost routes to an EU passport
Digital Nomad Visa
Income-based
Proof of €2,540/month income from remote work for non-Croatian employer.
1-2 months
Must reside in Croatia
1 year (non-renewable, can reapply after 6 months)
No
No direct path
188
- ✓ No Croatian tax on foreign income during the visa period
- ✓ Full Schengen access — Croatia joined Schengen and adopted Euro in 2023
- ✓ Non-renewable — must leave for 6 months before reapplying
Temporary Residence for Business Activity
Income-based
Company registration in Croatia or appointment as director/board member. No minimum capital requirement for d.o.o. (LLC equivalent).
1-3 months
Must reside in Croatia
1 year (renewable annually, leads to permanent residence after 5 years)
Yes
8 years (5 years continuous residence + 3 years permanent residence)
188
- ✓ EU + Schengen + Eurozone access from 2023
- ✓ Actual path to Croatian (EU) citizenship via 8-year integration
- ✓ Full work rights, unlike the Digital Nomad Visa
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
€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
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)
Immigrant Investor Programme (IIP)
€1,000,000
€1M enterprise investment, €1M investment fund, €2M REIT, or €500K endowment.
6-9 months
1 day/year
2 years (renewable to 5)
Yes
5 years (by naturalization)
190
- ✓ Program closed February 2023 — no new applications accepted
- ✓ EU member but not Schengen — own border controls maintained
- ✓ Common Travel Area with UK — free movement between Ireland and UK
Investor Visa
€250,000
€250K in qualifying innovative startup (registered, <5 years old, <€5M revenue), €500K in Italian company (SME or larger), €1M philanthropic donation, or €2M in government bonds. Startup route is most popular entry point.
3-6 months
Must maintain Italian tax residency (183+ days/year or centre of vital interests in Italy)
2 years (renewable)
Yes
10 years
191
- ✓ Lowest EU investor visa entry point at €250K (startup route)
- ✓ Flat tax regime: €300K/year on all foreign income (up to 15 years)
- ✓ Path to EU citizenship and passport after 10 years
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
Citizenship by Naturalization (MEIN)
€600,000
€600K-€750K contribution + €700K+ property purchase or €16K/year rent + €10K philanthropic donation.
12-14 months
12-36 months residence before citizenship
Citizenship (permanent)
Yes
Direct (12-36 months)
188
- ✓ Terminated April 2025 following EU Court ruling
- ✓ EU citizenship and passport
- ✓ Visa-free access to 188 countries
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
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
Citizenship by Investment
€450,000
€450K real estate in developed regions or €250K in undeveloped regions + €200K government donation.
3-6 months
None
Citizenship (permanent)
Yes
Direct
124
- ✓ Program closed — no new applications accepted
- ✓ EU candidate country — passport value could increase materially on accession
- ✓ Schengen visa-free travel since 2009 despite not being EU member
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)
D7 Passive Income Visa
Income-based
Proof of passive income (approx. €900/month minimum)
3 months
183+ days/year
2 years (renewable)
Yes
5 years
191
- ✓ No investment required, income-based
- ✓ Pension income accepted
- ✓ Must reside in Portugal
Golden Visa
€500,000
Property purchase (€500K+), capital investment (€1M+ in shares/funds), or bank deposit (€1M+).
2-6 months
No minimum stay
2 years (renewable)
Yes
10 years
191
- ✓ Program closed April 2025 — no new applications accepted
- ✓ Property route drove closure; capital investment route (€1M+ shares/funds) was also available
- ✓ Existing approved holders retain their residency rights
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
Digital Nomad Visa
Income-based
No investment. Must demonstrate remote employment or freelance activity for a non-Spanish company, with minimum income of approximately €2,520/month (200% IPREM).
1-3 months
Must reside in Spain
1 year visa, then 3-year residence permit (renewable)
Yes
10 years
191
- ✓ Beckham Law eligible: 24% flat tax on Spanish-source income for first 6 years
- ✓ No investment required, income-based qualification
- ✓ Full Schengen access
Lump-Sum Taxation Residence
CHF 450,000
CHF 450K+ annual tax payment (lump-sum taxation based on living expenses, not income). Varies by canton.
3-6 months
Must reside in Switzerland
1 year (renewable)
No
10 years (12 years for non-EU nationals)
191
- ✓ Tax based on living expenses, not actual income — ideal for very high earners
- ✓ CHF 450K+ annual minimum tax payment — not a fixed investment
- ✓ Cantons Vaud, Valais, Geneva, Ticino offer lump-sum; Zurich and Basel abolished it
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
Explore Other Regions
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