Golden Visa programs in Europe have undergone significant changes in 2024 and 2025. Many countries have revised or discontinued real estate options for residency by investment. If you are planning to invest in a European residency program, here is a comprehensive guide on the latest developments.
Golden Visa Program Updates by Country
Portugal Golden Visa 2024
Portugal’s Golden Visa program has seen a major overhaul in 2024. The real estate investment route has been significantly restricted. The program now emphasizes alternative investment options such as:
- Venture capital funds
- Cultural projects
- Science or technology research
Despite these changes, investors can maintain residency with minimal physical presence, requiring just seven days per year in Portugal. This makes the country an attractive destination for those seeking diverse investment opportunities.
Spain Golden Visa Changes 2025 (Updated 6th January 2025)
Spain has announced the discontinuation of real estate investment as a qualifying route for its Golden Visa program, effective from 3rd April 2025. This has triggered a surge in Golden Visa applications leading up to the deadline.
However, alternative investment options remain available, including:
- Business investments
- Public debt securities
Greece Golden Visa Update
Greece has increased the minimum real estate investment requirement for certain high-demand areas, including Athens and Santorini, from €250,000 to €500,000. Despite this hike, more affordable investment opportunities are still available in less popular regions, providing flexibility for investors.
Malta Golden Visa Program
Malta continues to target ultra-high-net-worth individuals with its Golden Visa program. The requirements include a combination of:
- Property investments
- Government contributions
- Donations
The minimum investment ranges from €600,000 to €1 million, depending on the specific program details. Malta offers one of the fastest routes to European citizenship, with a pathway in just 1 to 3 years.
Turkey Golden Visa (Residency & Citizenship)
Although not fully part of the European Union, Turkey offers a highly attractive Golden Visa program. The minimum real estate investment requirement is $400,000 (plus fees). This investment provides a clear path to Turkish citizenship, making it a popular choice for international investors seeking both residency and citizenship.
Broader Trends in European Golden Visa Programs
Increased EU Scrutiny
The European Union has heightened scrutiny of Golden Visa programs due to concerns over:
- Security risks
- Tax evasion
- Impact on local housing affordability
Rise of Alternative Investment Routes
As real estate investment options become more restrictive in some countries, alternative investment opportunities are gaining traction. These include:
- Starting a business
- Funding scientific research
- Contributing to cultural projects
What This Means for Investors
Act Quickly
Given the recent changes, potential investors targeting countries that still offer real estate-based Golden Visa routes should act swiftly.