Plenty of Golden Visa and Citizenship by Investment programs are available to investors to obtain residence in Europe. A Golden Visa can be a lifeline for foreign investors to diversify their assets globally while being able to move to that country if the time comes.
Regarding the Golden Visas in Europe, they can be an excellent way for foreign investors to establish a presence and take advantage of the many benefits of being an EU Golden Visa holder. Some benefits include traveling visa-free within the Schengen area, access to excellent healthcare and education systems, and establishing and operating a European business.
In this article, we’ll dive into the cheapest EU Golden Visa programs and provide detail that can assist in making an informed decision. It is important to note these are not citizenship by investment programs.
Please note that Golden Visa programs are subject to change. It’s advisable to consult official government sources or authorized legal advisors for the most current information before making any investment decisions.
Cheapest European Golden Visas
Certain European countries obtain more exposure than others concerning their Golden Visa program.
With the many Golden Visa programs available throughout Europe, there is sure to be an option that meets your needs and budget. After completing the minimum investment, applicants can obtain a residence permit or, at times, permanent residency.
Portugal and Spain have both ended their Golden Visa programs by real estate investment as of 2023 and 2024, respectively.
The Portuguese Golden Visa program remains active but has shifted its focus. As of October 2023, real estate investments no longer qualify. Instead, eligible investments include contributions to venture capital funds, scientific research, or cultural heritage, with minimum investments starting at €250,000.
Spain’s Golden Visa program is set to end on April 3, 2025. Until then, it requires a minimum real estate investment of €500,000.
Thus, other countries now have the chance to welcome more investors each year.
As of April 2025, several European countries continue to offer Golden Visa programs, granting residency to non-EU investors who meet specific investment criteria.
Some of the cheapest Golden Visas:
The Cheapest European Golden Visas
Greek Golden Visa
The primary requirement for the residency by investment program is real estate:
€250,000 Investment. This option is now limited to specific cases:
Conversion of commercial properties into residential use.
Restoration of listed buildings with cultural or historical significance.
€400,000 Investment. The investment must be in a single property with a minimum size of 120 square meters and located in less densely populated areas or rural regions.
€800,000 Investment. Required for properties in high-demand areas, including:
Attica region (encompassing Athens and Piraeus);
Thessaloniki;
Islands with more than 3,100 inhabitants, such as Mykonos and Santorini.
Lease Agreements. Ten-year long-term lease of real estate property in Greece for hotel accommodation, furnished tourist residences in tourist accommodation complexes, or time-sharing agreement for hotel accommodation.
A secondary option is to make other capital investments in Greece.
€500,000 investment in a Greek company or organization;
€500,000 capital transfer in Greek government bonds; and
€350,000 investment in Greek mutual funds or alternative investment funds (AIFs) that invest in the Greek real estate market.
The Golden Visa scheme is valid for five years and is renewable as long as the investment remains. To continue, the applicant must maintain ownership of the property or asset and have visited Greece at least once every two years.
The program allows for including the principal applicant’s spouse and children under twenty-one and the applicant’s parents.
Maltese Golden Visa
To qualify for the Malta Permanent Residence Program (MPRP), the principal applicant must be at least eighteen years of age and provide an affidavit declaring that they possess a minimum capital of €500,000, of which €150,000 should be in financial assets.
The following investment requirements apply for the residence permit:
| Requirement | If Purchasing Property | If Leasing Property |
|---|---|---|
| Real Estate | Minimum €375,000 | Annual rent of at least €14,000 |
| Government Contribution | €30,000 | €60,000 |
| Administrative Fee | €50,000 + €10,000 per dependent | €50,000 + €10,000 per dependent |
| NGO Donation | €2,000 | €2,000 |
| Minimum Holding Period | 5 years | 5 years |
These figures reflect the updated guidelines from the official Residency Malta Agency (source).
The permanent residence permit is valid if the applicant holds the original investment. The program is available for four generations, including children, grandchildren, and even grandparents of the primary applicant.
Cypriot Golden Visa
The main requirement is that you must invest in one of the following options:
€300,000 (excluding VAT) in free standing property on Cyprus;
€300,000 in the share capital of a physical company registered and operating in Cyprus, which employs at least five people; and
€300,000 in the Cyprus Investment Funds Association’s collective investments (AIF, AIFLNP, RAIF) units.
In addition, you must provide evidence of an annual income of at least €50,000. The income threshold increases by €15,000 for the spouse and €10,000 for each additional child. Parents and parents-in-law are no longer allowed to apply under their children’s application.
Investors in the program need to submit an annual statement showing they still meet the annual income requirement and that they have not divested from their asset investment.
The Cypriot program is a permanent residence permit program and does not offer immediate EU citizenship. The applicant must visit Cyprus once within the first year to register biometrics and visit Cyprus every two years to maintain a permanent residency.
Latvia Cheapest Golden Visa
To be eligible for on the cheapest Golden Visas, investors are required to meet the following criteria:
€50,000 into the equity capital of a Latvian company, provided that the company pays at least €40,000 in taxes annually. This company must have no more than 50 employees and an annual turnover or balance sheet not exceeding €10 million.
Make a one-time payment of €10,000 to the state budget.
Show proof of sufficient funds to support their family’s living standard of €15,480 for a single applicant and €22,188 for a family of three.
There is no minimum stay requirement to renew the residence permit as long as the investment requirements remain.
Italian Golden Visa
To be eligible for the Italian Investment Residence Program and residence permit, applicants must:
€250,000 initial investment into an Italian startup that shows innovation, and must be listed in the public registry for innovative startups;
€2 million in government bonds or securities;
€1 million to a public interest project in culture, education, immigration management, scientific research, or preserving Italy’s cultural and natural heritage.
A spouse, children, and dependent parents of the principal applicant may also request a visa without additional investment.
As of 2025, Italy has not introduced a real estate option for its Investor Visa. The government did discuss a bill in late 2023 to allow real estate investments as a path to secure the permit, but no official changes have been introduced. However, investors can consider investing in regulated real estate investment funds that focus on Italian hospitality assets, which are eligible under the program. For example, a €500,000 investment in such a fund can qualify for the visa.
There is no physical presence while the applicant holds the investment. After five years of residency through the Investor Visa for Italy program, you may apply for a permanent residency permit.
Hungarian Golden Visa
The Hungarian Guest Investor Program (also known as the Hungary Golden Visa) lets non-EU nationals secure a 10-year residence permit through specific investments. By April 2025, those investments can be one of two things:
You can either invest €250,000 in a real estate fund registered with the National Bank of Hungary. That fund has to have at least 40% of its net value in Hungarian residential real estate. You’ll need to hold onto that investment for at least five years.
Or you can donate €1 million to a Hungarian public trust that runs an institution of higher education. That donation supports education, research and the arts.
Spouse and kids can be included in your application without needing to invest separately.
That initial direct real estate purchase option, where you could invest €500,000 in property, was actually proposed, but it was scrapped before it could start in January 2025.
You don’t have to live in Hungary to keep your residence permit. But to qualify for permanent residency after three years, you do need to spend at least 180 days in Hungary each year during that period.
Comparison of the Cheapest European Golden Visas
Each of the cheapest Golden Visas in Europe has its unique benefits and advantages compared to others. Thus, each investor must prioritize their needs for the best program.
Capital investment, timelines, length of visa, minimum stay requirement, and pathway to citizenship are all things to consider.
| Country | Minimum Investment | Immediate Residence Status | Minimum Stay Requirement | Permanent Residence |
|---|---|---|---|---|
| Greece | €250,000 in real estate (increased to €400,000 or €800,000 in certain areas) | Permanent residence permit granted immediately | None | Renewable every five years; eligibility for citizenship after seven years of residency |
| Malta | €375,000 in property purchase or €14,000 annual property rental | Permanent residence granted immediately | None | Immediate permanent residence upon investment |
| Cyprus | €300,000 in real estate or other investments | Permanent residence granted immediately | Visit is required once every two years | Immediate permanent residence upon investment |
| Latvia | €50,000 investment in a Latvian company plus €10,000 government fee | Temporary residence permit granted for five years | None | Eligibility for permanent residence after five years of residency |
| Italy | €250,000 investment in an innovative startup or €500,000 in an Italian company | Two-year investor visa granted; renewable | None | Eligibility for permanent residence after five years of residency |
| Hungary | €250,000 in real estate investment fund units or €500,000 in residential real estate | 10-year residence permit granted immediately | None | Eligibility for permanent residence after three years of continuous residence |
| Portugal | €500,000 in investment funds | Temporary residence permit granted; eligibility for permanent residence after five years | 7 days per year | Eligible for citizenship after five years of residency |
Benefits of European Golden Visas
Fast and Straightforward Residency by Investment Options
European programs are considered a quick and straightforward way to obtain residency in Europe due to several reasons:
Unlike other visa programs, Golden Visa schemes do not require applicants to spend many (if any) days in the country. Investors can maintain residency without physically residing in the country for an extended period.
There are no language or cultural requirements. The programs do not require applicants to speak the local language or have knowledge of the culture, making the process more accessible for investors from different backgrounds.
The programs often have specialized fast-track processing options. The programs often have fast processing times, meaning investors can obtain residency in months.
Visa-free Travel with A Residence Permit
By accessing the cheapest Golden Visa in Europe, investors will be able to travel visa-free to most of the European Union. By accessing the cheapest Golden Visa in Europe, investors will be able to travel visa-free to most of the European Union.
By obtaining residency in a European country, investors can enjoy visa-free travel within the Schengen area and other European Union countries.
Cyprus is the only program not part of the Schengen area, and investors must obtain a separate visa to travel to the EU.
Other benefits include access to the European education and healthcare systems.
Opportunities for Business, Healthcare, and Education
Investors in Europe enjoy access to high-quality healthcare and education systems, which are often among the best in the world.
Excellent and free education is a significant draw for many investors, as it provides peace of mind for themselves and their families.
Most European countries have universal healthcare systems. Investors can access public hospitals and clinics or use private health insurance.
Some countries have agreements with other EU countries for reciprocal healthcare services. The Golden Visa schemes allow investors to receive medical care in other countries.
Applicants can also benefit from the high-quality education systems in Europe. Children of Golden Visa holders can attend public schools and, in some countries, private schools with little or no fees.
Additionally, some countries have international schools offering education in multiple languages and curriculums, which can benefit families who relocate frequently.
Tax Benefits
Europe is renowned for its tax programs that non-EU citizens can utilize for remitted foreign-earned income.
Malta has a special tax regime called the Global Residence Program (GRP) that allows individuals not domiciled in Malta to benefit from a flat tax rate of 15% on foreign income remitted to Malta.
Italy has a lump-sum tax regime for high net worth individuals. New residents can opt to pay an annual flat tax of €200,000 on foreign sourced income, regardless of how much they earn. This regime is for up to 15 years and can be extended to family members for an additional €25,000 per person per year. Note that those who opted for the regime before August 10, 2024 pay the previous fixed amount of €100,000.
Greece has a special tax regime for foreign pensioners. Eligible retirees who transfer their tax residence to Greece can pay a flat 7% tax on their total foreign sourced income. This regime is for 15 years. To qualify, individuals must not have been Greek tax residents for 5 out of the last 6 years before the transfer and must relocate from a country with which Greece has an administrative cooperation agreement in tax matters.
Cyprus has a Non-Domicile (Non-Dom) tax regime that offers significant tax benefits. Non-Dom individuals are tax free on dividends, interest and rental income, both foreign and local, for 17 years.
Investors can reduce their taxes by becoming tax residents in many Golden Visa countries.
How to choose the cheapest Golden Visa in Europe?
Factors to Consider Before Choosing a Program
There are several conditions that investors looking for the cheapest Golden Visas must consider. These could make or break their decision to invest or not.
The investment requirements for Golden Visa programs can vary greatly, and potential investors should carefully consider their financial situation to determine if they can afford the required investment amount.
Each Golden Visa program has different eligibility criteria, such as age, income, and criminal record. The length of time that a Golden Visa is valid can vary depending on the country.
Some Golden Visa programs require investors to spend a certain amount of time in the country each year to maintain their residency status.
Investors should consult with tax advisors to understand the tax implications of investing in a foreign country and holding a Golden Visa.
Moving to a foreign country can be a challenging experience, mainly if there are language and cultural differences. For Golden Visa programs that require property investments, investors should research the local real estate market to determine whether it is a sound investment.
Finally, investors should have a clear exit strategy in case they need to sell their investment or return to their home country.
Comparison of the Programs
Each program holds its unique advantages and disadvantages. The Portugal Golden Visa program has been historically attractive for its limited physical presence requirement and easy pathway to citizenship.
The Latvian visa is the cheapest European Golden Visa by some margin. However, the investor is likely only to maintain residence if they live in Latvia and learn the language to work towards permanent residence after five years and citizenship after ten years.
The other programs have a minimum cost of around €250,000.
Greece is one of the cheapest Golden Visa with its lower entry point for its real estate investment. Add in the high capital appreciation and no minimum stay requirement, and the program receives thousands of permanent residency hopefuls. However, the program has a challenging route to citizenship, especially when compared to Portuguese citizenship. Applicants must live permanently in Greece for seven years and meet several other language and cultural integration criteria.
Cyprus and Malta offer attractive tax policies for investors, and both have a relatively straightforward path to citizenship after five years of residing in the country. Malta allows for the most dependents, making it incredibly inclusive for families.
Professional Assistance and Guidance for Selecting the Best Program
Investing in Golden Visa schemes can provide numerous benefits, including access to new markets, better education and healthcare opportunities, and a high standard of living. However, with so many different programs available, it can take time to determine the best fit for your needs.
That’s where professional assistance and guidance come in. By working with a reputable firm, investors can gain access to a team of experienced professionals who can help them navigate the complex world of investment migration.
Frequently Asked Questions
What is a European Investment Visa?
It is a residence permit that allows non-EU citizens to live, work and study in an EU country by investing in the country’s economy or buying property.
What are the options for obtaining a European Golden Visa?
Typical investments include buying property, investing in a business of fund, buying government bonds, or donations.
What is the cheapest way to get a Golden Visa?
The cheapest investment scheme will vary by country. Generally speaking, applicants opt to invest in real estate. The minimum investment for real estate is currently €250,000 in Greece.
