Programs With Schengen Area Access
European residency and investment programs grant holders the right to travel freely within the Schengen area, covering 29 European countries. Programs in Portugal, Greece, Spain, Italy, Malta, Hungary, Latvia, Croatia, Austria, and Bulgaria all provide Schengen travel rights through their residency permits. Cyprus grants EU residency but is not yet a Schengen member. Switzerland and Ireland operate their own border regimes but offer equivalent high-level European access.
Programs
19
Countries
15
Types
CBI & RBI
From
Income-based
Key Takeaways
- ✓ Schengen area covers 29 countries with border-free travel
- ✓ Greece Golden Visa from EUR 250,000 is the most affordable route to Schengen residency
- ✓ Latvia Golden Visa at EUR 50,000 is the cheapest capital-based Schengen option
- ✓ Portugal, Italy, and Spain offer paths to EU citizenship within 5-10 years
All Programs at a Glance
Sorted by minimum investment. Click any country to explore in detail.
| Country | Program | Type | Min. Investment | Processing | Citizenship Path |
|---|---|---|---|---|---|
| 🇵🇹 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 |
| 🇮🇹 Italy | Elective Residence Visa | RBI | Income-based | 3-6 months | 10 years |
| ðŸ‡ðŸ‡· Croatia | Digital Nomad Visa | RBI | Income-based | 1-2 months | No direct path |
| ðŸ‡ðŸ‡· Croatia | Temporary Residence for Business Activity | RBI | Income-based | 1-3 months | 8 years (5 years continuous residence + 3 years permanent residence) |
| 🇱🇻 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 |
| 🇮🇹 Italy | Investor Visa | RBI | €250,000 | 3-6 months | 10 years |
| ðŸ‡ðŸ‡º Hungary | Guest Investor Program (Golden Visa) | RBI | €250,000 | 3-6 months | 8 years + language exam |
| 🇨🇾 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 |
| 🇨🇠Switzerland | Lump-Sum Taxation Residence | RBI | CHF 450,000 | 3-6 months | 10 years (12 years for non-EU nationals) |
| 🇵🇹 Portugal | Golden Visa (ARI) | RBI | €500,000 | 12-18 months | 5 years |
| 🇲🇨 Monaco | Residence Permit (Carte de Séjour) | RBI | €500,000 | 2-6 months | 10 years (application to the Prince; dual citizenship not permitted at naturalisation) |
| 🇧🇬 Bulgaria | Investor Residence Permit | RBI | €512,000 | 3-6 months | 5 years (PR), then citizenship after additional residency |
| 🇦🇩 Andorra | Passive Residence Permit | RBI | €1,000,000 | 2-3 months | 20 years |
Explore Each Program
Detailed cards with investment requirements, timelines, and key benefits.
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
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
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
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
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
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
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
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
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
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)
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
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
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
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)
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
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
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
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