Investment visas have quietly become one of the most powerful financial-planning tools of the decade. A second residency or passport reduces tax exposure, opens new business markets, gives the family a Plan B, and unlocks visa-free travel across dozens of countries. The market is also moving fast. Spain shut its golden visa in 2025. Malta lost its citizenship-by-investment program. The UK is gone. Other programs raised prices, redirected investment routes, or quietly raised the bar. This guide cuts through the noise and compares every active investment visa worth considering in 2026.
What is an investment visa and who actually uses one?
An investment visa is a government-sanctioned program that grants residency or citizenship to foreign nationals who make a defined economic contribution. The contribution can be real estate, government bonds, an investment fund subscription, a non-refundable national development donation, or starting a job-creating business. In return, the applicant receives the right to live, sometimes work, and travel within a specific country.
The audience is broader than headlines suggest. It is not just billionaires. It is dual-income tech families looking for an EU education option for their kids. It is American retirees who want healthcare access in Portugal. It is Nigerian and South African business owners who want easier global mobility. It is digital entrepreneurs hedging political risk. The common thread is using capital to buy optionality, and treating residency as a financial product the same way you would treat insurance.
Active investment visa programs at a glance
The table below covers the main programs with current pricing. Use it as a shortlist, then drill into the country-specific sections that follow.
| Country | Minimum investment | Processing | Citizenship timeline |
|---|---|---|---|
| Greece (Golden Visa) | EUR 250,000 | ~3 months | 7 years |
| Portugal (Golden Visa, funds) | EUR 500,000 | 12-18 months | 10 years for most applicants; 7 years for EU and CPLP nationals (Nationality Law amendment in force since 19 May 2026 under Lei Orgânica n.º 1/2026 (Diário da República n.º 95/2026, published 18 May 2026); applications submitted before 19 May 2026 retain the prior 5-year rule under transitional provisions). Permanent residency remains 5 years. |
| Cyprus (Permanent Residency) | EUR 300,000 | ~6 months | 8 years |
| Italy (Investor Visa) | EUR 250,000 | 3-4 months | 10 years |
| Malta MPRP (residency) | EUR 300,000+ property + 28K-58K gov | 4-6 months | Discretionary |
| UAE Golden Visa | AED 2,000,000 (~USD 545,000) | 2-4 weeks | No path |
| Saudi Premium Residency | SAR 800,000 (~USD 213,000) | 3-6 months | No path |
| USA EB-5 | USD 800,000 (TEA) | 5-36+ months | 5 years to citizenship |
| Caribbean CBI (Dominica) | USD 200,000 | 4-9 months typical (IMI Q4 2025 average 9.3 months; range 4-18) | Direct citizenship |
European golden visas: Greece, Portugal, Cyprus, Italy
Europe remains the heart of the investment migration market. Four programs are live and accepting applicants in 2026, each with a different value proposition.
Greece Golden Visa
Greece is the most affordable EU residency-by-investment program left after Portugal removed real estate. Routes start at EUR 250,000 for a commercial-to-residential conversion or heritage restoration, EUR 400,000 in emerging zones, and EUR 800,000 in high-demand zones such as central Athens, Thessaloniki, Mykonos, and Santorini. Processing runs around three months. The five-year permit is renewable indefinitely with no minimum-stay requirement. Citizenship is available after seven years of legal residency, and the Greek passport gives 185 visa-free destinations.
Portugal Golden Visa
Portugal removed the real estate route in October 2023, but the program is alive and well via investment funds and other contributions. The most popular route now is a EUR 500,000 fund subscription. Processing runs 12-18 months due to backlogs. Portuguese citizenship now requires 10 years for most applicants; 7 years for EU and CPLP nationals (Nationality Law amendment in force since 19 May 2026 under Lei Orgânica n.º 1/2026 (Diário da República n.º 95/2026, published 18 May 2026); applications submitted before 19 May 2026 retain the prior 5-year rule under transitional provisions). Permanent residency remains 5 years. The Portuguese passport opens 190 destinations and full EU mobility.
Cyprus Permanent Residency
Cyprus offers a fast-track permanent residency at EUR 300,000 in property, infrastructure, or company shares, with processing in around six months. The PR is for life and covers the family. Citizenship requires eight years of legal residence. The Cypriot passport unlocks 174 destinations and full EU rights.
Italy Investor Visa
Italy offers four investment routes: EUR 250,000 in an Italian innovative startup, EUR 500,000 in an Italian company, EUR 2 million in government bonds, or EUR 1 million in philanthropic donations. Processing takes three to four months. Italy also operates a flat-tax regime for non-doms: EUR 300,000 per year for new entrants from 1 January 2026 (2026 Budget Law). Family members EUR 50,000 each. Pre-10 August 2024 entrants keep EUR 100,000; entrants between 10 August 2024 and 31 December 2025 keep EUR 200,000. The regime has drawn many high-net-worth families. Citizenship requires ten years of residence, the longest in the EU group.
Malta MPRP and the citizenship suspension
Malta runs two distinct programs that are often confused: residency (MPRP) and citizenship (formerly MEIN). Only one is currently usable.
The Malta Permanent Residence Programme (MPRP) is still active. It requires a one-time government contribution of EUR 28,000 if you buy property or EUR 58,000 if you rent, plus property of EUR 300,000 in the south or EUR 350,000 in the north of Malta. Processing runs four to six months. The MPRP grants permanent EU residency in Malta but is not a route to citizenship.
Austria, the alternative to dead programs
Austria does not run a public golden visa, which is exactly why it is having a moment as Spain and Malta close their doors. Austria offers two routes worth understanding. The first is the highly selective citizenship for exceptional services, used historically by major investors. The second is the Settlement Permit Quota for self-employed individuals or financially independent persons, which requires demonstrated financial means and a German language certificate. Austrian residency does not have a fixed price tag; cases are negotiated and reviewed individually. For ultra-high-net-worth families that already considered Spain or Malta CBI, Austria is now firmly back on the shortlist.
UAE Golden Visa and Saudi Premium Residency
The Gulf has emerged as a serious alternative to Europe for tax-driven residency. There is no income tax in the UAE or Saudi Arabia, processing is fast, and lifestyle infrastructure has caught up.
UAE Golden Visa
The UAE issues a 10-year renewable Golden Visa for an investment of AED 2,000,000 (~USD 545,000) in real estate or qualifying business. A 5-year retirement variant is available for applicants aged 55 and over with AED 1,000,000 in real estate or savings. Processing runs two to four weeks. From February 2026, the UAE eliminated the 50% upfront payment requirement on real estate, making fully mortgaged properties eligible for the first time. The UAE passport is one of the world's strongest with 184 visa-free destinations, but the UAE does not naturalize foreign residents.
Saudi Premium Residency
Saudi Arabia's Premium Residency requires a one-time payment of SAR 800,000 (~USD 213,000) or an annual SAR 100,000 fee. Processing takes three to six months. It grants the right to live, work, own property, and sponsor family in Saudi Arabia, but there is no path to citizenship. The Saudi passport offers 83 visa-free destinations.
USA EB-5 Investor Visa
The EB-5 is the United States' investor green card. The minimum investment is USD 800,000 in a Targeted Employment Area (TEA), or USD 1.05 million for non-TEA projects. The investment must create or preserve at least ten full-time American jobs.
The 2022 EB-5 Reform and Integrity Act introduced rural set-asides, which are processed faster — typically 5 to 18 months. Standard urban TEA cases run 18 to 36 months or more. Once the I-526E petition is approved, applicants get a conditional green card, then a permanent one after 24 months, and can apply for US citizenship after five years of permanent residence. The US passport offers 186 visa-free destinations.
Caribbean citizenship by investment programs
The Caribbean is the only region offering true citizenship by investment, no residency requirement, in months rather than decades. Five active programs operate from the smallest direct-to-passport route to the largest:
| Country | Minimum (donation) | Real estate option | Processing | Visa-free |
|---|---|---|---|---|
| Dominica | USD 200,000 | USD 200,000 | 4-9 months typical (IMI Q4 2025 average 9.3 months; range 4-18) | 160 |
| Grenada | USD 235,000 (NTF) | USD 270,000 + USD 50,000 | ~6 months | 144 (E-2 treaty) |
| Antigua & Barbuda | USD 230,000 (NDF) | USD 300,000 | ~6 months | 164 |
| St Kitts & Nevis | USD 250,000 (SISC) | USD 325,000 condo / USD 600,000 dwelling | 4-6 months | 167 |
| St Lucia | USD 240,000 | Available | Officially targets 4-5 months but IMI Q4 2025 data shows an 18-month average — plan for 10-15 months. St Kitts (~5 months) is currently the fastest Caribbean CBI. | 156 |
St Kitts & Nevis runs the oldest program in the world, started in 1984. Grenada is unique because it grants access to the US E-2 Treaty Investor visa, allowing Grenadian citizens to operate a US business. Important: under the 2022 US AMIGOS Act (signed 23 December 2022 as part of the NDAA FY2023), investors who obtained Grenadian citizenship through CBI must prove three years of genuine domicile (i.e., actually living) in Grenada before applying for the E-2 visa. This is not an immediate route. Note that Barbados does not have a citizenship-by-investment program despite occasional confusion online; only a residency permit is available.
Note: as of 21 January 2026, the US suspended immigrant visa processing for nationals of 75 countries — including all five Caribbean CBI nations (Antigua, Dominica, Grenada, St Kitts, St Lucia). Non-immigrant visas (tourism, business, E-2) remain available. Investors with US immigration plans should seek separate US legal advice.
Programs that are dead or ended in 2026
Plenty of online articles still advertise programs that are not accepting applications. Verify with the program's official authority before paying any agent.
- Spain Golden Visa — ended April 2025. Spain still issues the Digital Nomad visa and the Non-Lucrative Visa for retirees
- Malta Citizenship by Investment (MEIN) — ENDED (not suspended): permanently ended following the ECJ ruling of 29 April 2025 (Case C-181/23). Act XXI of 2025, in force 24 July 2025, repealed all CBI provisions and replaced them with a discretionary merit-based naturalization route. Malta's MPRP residency programme is separate and still active.
- UK Tier 1 Investor visa — closed February 2022 with no replacement; the UK non-dom regime was abolished April 2025
- Ireland Immigrant Investor Programme — closed in 2023
- Bulgaria CBI — wound down following EU pressure
How to choose the right investment visa
Selecting a program is a function of your goals, not the headline price. The five questions below filter the decision quickly.
- Do you want residency or a second passport? If passport now: Caribbean CBI. If EU passport eventually: Greece, Portugal, Cyprus.
- How much capital can you commit, and to what? Donation, fund, real estate, or business. Each has very different liquidity profiles.
- Will you live there? Some programs require physical residence (Cyprus PR partial, Italy citizenship). Others allow zero days (Greek Golden Visa).
- What is your tax position? Italy flat tax, UAE zero income tax, and Greek non-dom regimes can save more than the investment over time.
- Do you need US business access? Grenada is the only CBI with a US E-2 treaty.
Comparing investment visas across regions?
Our advisors map your timeline, family, and tax position against every active program — including the ones that just changed.