Residency by investment schemes is a legal way of acquiring a residency in a foreign state in return for an investment into that nation. These programmes do not provide citizenship but rather a residence permit and the citizenship is granted after naturalisation instead. Available now in 2026, the most popular programme is held in Portugal, Greece, Cyprus, Italy, Malta, and the UAE with different investment amounts, time commitments, and long-term benefits.
But it was a different scenario in recent years. The Golden Visa scheme for Spain has ended in April 2025. In October 2023, Portugal eliminated real estate from its qualifying categories. The modifications have raised a strong need to use up-to-date rather than obsolete guides. All numbers quoted in this article are based on accepted 2026 programme regulations.
How residency by investment works
With a residency by investment programme, you will obtain a temporary or permanent resident permit based on a desired investment in the country of residence. It’s usually in the form of investment in real estate, purchase of government bonds, investment in businesses, or a transfer of capital to self-directed funds.
After you're issued your residence permit, you will legally have the right to stay in that place. In several European programs, residency also confers travel opportunities to the Schengen Area – 29 European countries – without any restrictions. Most programmes let you include your spouse, your dependent kids and sometimes your parents in the same application.
Residency does not equal citizenship. You will have a permit to hold that needs to be renewed, and you are not eligible to receive a passport. Most countries do, however, have a naturalisation process - after a number of years stay, and fulfilling various criteria for integration, you can apply for full citizenship. This is one of the reasons why residency by investment is a two-step process – resident now, passport later.
The benefits of acquiring a citizenship by investment go far beyond these. When taking into account the worth of the eventual passport, European residence courses are generally cheaper than people living in the Caribbean CBI courses. Unlike Caribbean passports, an EU passport provides the freedom of movement between 29 countries.
Best residency by investment programs in Europe (2026)
The residency by investment market is dominated by Europe. Four programmes are active in 2026, attracting diverse types of investors depending on budget, time, and end goal. A side-by-side comparison of all programmes that are taking applications.
Spain's Golden Visa ended in April 2025. If you see guides still listing Spain, they are outdated. Spain's Digital Nomad Visa and Non-Lucrative Visa remain available but are not investment-based residency programmes.
Residency by investment in Portugal
In the absence of real estate investment in October 2023, Portugal's Golden Visa continues being one of the most coveted programmes to obtaining residency in the world. The current driving investment is EUR 500,000 in approved investments – these include venture capital and private equity funds investing in Portuguese companies.
Processing currently takes 12-18 months, which is longer than most European competitors. While Portugal was previously known for offering one of the fastest routes to EU citizenship, the rules changed under the Nationality Law amendment signed in May 2026. Portugal now requires 10 years of residency for citizenship eligibility (7 years for EU/CPLP nationals). As a result, Greece now offers the shortest path to EU citizenship among active Golden Visa programmes at seven years. However, Portugal still is a good option though due to its low physical presence requirement (just 7 days in the first year and 14 days every 2 years).
The minimal presence requirement makes Portugal a most unique special attraction. While you are waiting to become EU citizens, you can use you're primary residence elsewhere, and also build toward EU citizenship. Compared with most of the other European programmes it will take significantly longer time in country.
The Non-Habitual Resident (NHR) tax regime is being phased out in Portugal, with replaced by the IFICI programme, which still provides the same tax advantages for the new residents. Golden Visa residency and tax rates under IFICI are definitely an attractive package for investors intending to be in Portugal for a significant period of time.
Keep in mind that new legislation may increase the citizenship period from five to ten years. If it is your desired programme, starting early now will provide you with protection under current arrangements.
Greece Golden Visa: The fastest European option
Golden Visa applications in Greece take about three months to be processed, and are the fastest among the European residency by investment programmes. The thresholds for investment depend on the location: EUR 800,000 in premium zones (central Athens, Mykonos, Santorini), EUR 400,000 in secondary areas and EUR 250,000 in the designated development areas.
With the tiered system, the money in your budget determines what you can invest in, not whether or not you qualify. The EUR 250,000 threshold is one of the lowest prices at which you can buy residency in Greece though the properties available in the accepted residency zones in Greece are limited at that price point.
Residents of Greece have rights to Schengen Area travel and permanent residency in Greece. People need to live in a country for seven years to become citizens, which is more than Portugal but less than Cyprus and Italy. The Greek passport is valid for visa-free entry in 185 countries.
The real estate sector in Greece has delivered robust performance over the past few years, especially in the capital city of Athens and the islands. In contrast to Portugal where real estate was not considered, Greece still focuses its programme on property investment. Your residency investment thus becomes a real asset that could grow in value in time, belt in to the waist of renting out and offer a physical home in Europe.
Greece is the fastest of all the European countries in terms of residence application processing, offers an investment asset in real estate, and provides a rapid entry into one of the best passports in the world.
Cyprus residency by investment
The Cyprus permanent residency program allows people to pursue residency in Cyprus by making a EUR 300,000 investment in the country, mostly by purchasing Cyprus property. This is really a permanent residence permit – for life, and for which no renewals are required beyond the periodic administrative updates. It takes about 6 months to process.
Cyprus is one of the more cost-effective European residency programmes, especially when compared with its permanent nature, that is at EUR 300,000. Upon receiving the permit, you hold it forever as long as you maintain the investment that qualifies you for it.
The duration of legal residency to gain citizenship by naturalisation is eight years. Visa-free access is granted to 174 countries, along with complete freedom of movement in the EU for Cypriots. Eight years is more than Portugal took to make their way (five), but there are none of the anticipated changes in Cyprus that would cause it to drag on.
Cyprus is also characterized by other beneficial features such as the corporate tax regime and geographic strategic location between Europe, Middle East and North Africa. Cypriot residency offers a practical solution for business owners with multiple locations serving as a convenient base, given its well-connected location and business-friendly regulatory environment.
Take note that Malta has paused its citizenship by investment programme (MEIN) in April 2025. Cyprus is one of the only remaining small island economies inside the EU that are still accepting investment-based residency.
Cheapest residency by investment in Europe
There are a number of choices for cost-conscious investors but it depends whether you're referring to just the investment cost, or the complete cost considering government fees, legal expenses, and continued obligations.
Pure investment threshold: The threshold for Malta's MPRP is the lowest at EUR 28,000-58,000 as a one-off government investment, plus EUR 300,000-350,000 in property (buy or rent). This is just a residency-based programme, though, and at present the investment route to the Maltese passport is not in place: the citizenship pathway (MEIN) was put on a hiatus in April 2025.
Greece at EUR 250,000 designated zones is the best value not only for residential but also for citizenship too. After 7 years you get a solid real estate investment, rights of Schengen travel and access to Greek citizenship.
Cyprus at EUR 300,000 The next cheapest thing is Cyprus at EUR 300,000, with the possibility of permanent residency, no renewals, and the possibility of citizenship after eight years.
Greece is the best value if you want the lowest cost means to getting an EU passport; EUR 250,000 and a waiting period for 7 years is very good. If staying in Cyprus without hassle of renewals is more important, then it would be better to go with Cyprus for EUR 300,000.
Residency by investment outside Europe
There are two programs outside of the EU for investors who are not interested in gaining entry to the EU: UAE Golden Visa and Saudi Arabia's Premium Residency.
UAE Golden Visa
The UAE Golden Visa is issued for a 10-year renewable period, and requires a minimum investment of AED 2,000,000 (approx. USD 545,000). The processing time is very short: within 2-4 weeks. The UAE Visa that is issued as part of the Golden Visa offers visa-free access to 184 countries, and the Golden Visa is not citizenship, but residency. A retirement visa is designed for those who are 55 years or older, and requires a minimum of AED 1,000,000.
The UAE has no personal income tax, and is one of the most tax-friendly places to reside internationally. With a 10-year validity combined with its speed and tax-friendly nature, the UAE Golden Visa is the preferred option for investors seeking quick investment visa options and ease of access to the Middle East markets over Europe citizenship.
Saudi Arabia Premium Residency
The Saudi Arabia's Premium Residency programme is offered for SAR 800,000 (around USD 213,000). Three to six months will be the processing time. This is a permanent residency permit that will allow you to reside, work and invest in Saudi Arabia. There is no investment-proof citizenship option, though, in Saudi Arabia (Saudi Arabia doesn't offer investment naturalisation).
Residency by investment, too, is a feature of the U.S. EB-5 programme: If you invest USD 800,000 in a TEA, you'll get a Green Card, in five to 18 months for rural priority projects. Five years after getting permanent residency, one can become a U.S. citizen.
How to choose the right programme
Residence by investment bests are going to vary based upon four factors: Budget, Timeframe, End Goal, Location. There is no one best programme for everyone.
- Fastest processing: UAE Golden Visa (2-4 weeks) or Greece Golden Visa (~3 months)
- Cheapest entry: Greece at EUR 250,000 in designated zones or Saudi Arabia at ~USD 213,000
- Fastest to citizenship: Greece at 7 years (with minimal physical presence)
- Strongest passport outcome: Any EU programme (185+ visa-free countries and EU freedom of movement)
- Best for tax efficiency: UAE (zero personal income tax)
- Best for US access: USA EB-5 at USD 800,000 (direct Green Card)
If your primary goal is an EU passport, Greece offers the shortest path at Seven years despite higher costs and longer initial processing. If you want a real estate investment that doubles as your residency qualification, Greece is the strongest option. If you need speed above all else, the UAE delivers a residence permit in weeks rather than months.
Avoid programmes that no longer exist. Spain's Golden Visa ended in April 2025. Malta's citizenship programme (MEIN) is suspended. The UK has no investment immigration route. Any advisor recommending these programmes is working from outdated information.
Frequently asked questions
What is the cheapest residency by investment programme?
Greece in Europe provides residency status after EUR 250,000 for those living in areas of designation, and a pathway to citizenship after seven years. Saudi Arabia has no citizenship pathway, with entries to the Premium Residency starting at someplace about USD 213,000 (SAR 800,000) worldwide. The one-time contribution by the government to MPRP in Malta is less than that of other nations, while the total costs over five years is greater.
What are the best residency by investment programs in 2026?
The most preferred programmes for 2026 are Greece (fastest pathway to EU citizenship 7 years), Greece (fastest processing 7~2 weeks with real estate investment), UAE (fastest approval 2-4 weeks), having an income tax free status and Cyprus (affordable permanent residency EUR 300,000). It will vary according to your needs and the amount you're willing to invest.
Can I get European residency by investment without buying property?
Yes. You can invest EUR 500,000 in one of the various improvement funds that qualify for the Golden Visa Portugal. Italy allows investment in startups (EUR 250,000), companies (EUR 500,000) or government bonds (EUR 2,000,000). MPRP (Malta Property Recovery Program) allows you to rent property instead of buying it. Investment in real estate is currently needed in Greece.
What is the cheapest residency by investment in Europe?
Greece at EUR 250,000 in designated development zones is the cheapest European residency by investment that includes a realistic path to citizenship. Cyprus at EUR 300,000 is the next most affordable option and grants permanent residency valid for life.
Is Spain's Golden Visa still available?
No, the Golden Visa is no longer available in Spain from the beginning of April 2025. The Spain Digital Nomad Visa and Spain Non-Lucrative Visa are visas that are still in place but are not accepted as investment visas. The closest European alternatives to Spain would be Greece and Portugal.
How long does it take to get citizenship through residency by investment?
Timelines vary significantly. The shortest way in Europe is in Greece with 7 years. For EU/CPLP nationals it will be seven years, for Portugal nationals it will be ten years. It will take eight years for Cyprus. It takes 10 years in Italy. For the people outside Europe, it requires 5 years to become eligible for citizenship through the USA EB-5 programme. With Caribbean CBI programmes, citizenship requirements are waived and citizenship is granted within 1-2 years.
This article is for informational purposes only and does not constitute legal, tax, or immigration advice. Programme requirements, costs and timelines are subject to change without notice. Spain’s Golden Visa ends April 2025, Malta’s MEIN citizenship programme is suspended as of April 2025. Always consult qualified legal and financial professionals before making investment decisions.Golden Keys Global is not a law firm. Information is accurate as of March 2026.
