A Golden Visa is a residency-by-investment program that enables individuals and their families to obtain residency rights in a foreign country by making a qualifying investment. Europe Golden Visa Programs have gained significant popularity among high-net-worth individuals seeking to enhance their global mobility, access better education and healthcare, and secure their assets against political or economic instability in their home countries.
KEY POINTS
- Golden Visa programs offer residency and sometimes citizenship in exchange for investment. This investment can be in real estate, businesses, or government funds.
- Many European countries are reforming or phasing out their Golden Visa programs. This is due to concerns about the impact on housing markets and a desire to prioritize residency for skilled individuals.
- Portugal’s Golden Visa now requires investment in funds, not real estate. It offers residency for 3 generations and a pathway to citizenship.
- Greece’s Golden Visa has increased minimum investment thresholds and created zones with different investment amounts. It offers residency for 3 generations and a pathway to citizenship.
- Spain’s Golden Visa no longer allows real estate investment. It now requires a large deposit in a Spanish bank. It offers residency and a pathway to citizenship.
- Hungary’s Golden Visa grants a 10-year residency permit (renewable) to non-EU citizens for a €250,000 investment.
THE GOLDEN VISAS IN EUROPE IN 2025
The Schengen Golden Visa have long been attractive options for investors, offering residency and later citizenship in exchange for investment, and attracting wealthy individuals seeking access to the European Union’s benefits.
However, recent years have seen significant changes and reforms in these programs, prompting a reevaluation by potential investors.
With European countries such as the UK and Ireland being amongst the first to phase out their Golden Visa programs in 2023 and 2024 respectively, and others taking steps to reform their programs, Europe is seeing a notable shift in its approach to residency by investment schemes.
PORTUGAL’S GOLDEN VISA
Portugal’s Golden Visa program, once a popular route for real estate investors, was significantly revised in October 2023. The real estate option has been removed, leaving investors with two main pathways. One is to invest a minimum of EUR 500,000 into a Portuguese Investment or Venture Capital Fund with a maturity of at least 5 years, where at least 60% of the fund’s investments must be made in commercial companies headquartered in Portugal. Or make a EUR 250,000 donation by way of capital transfer, applied in investment or support to artistic production, recovery, or maintenance of the national cultural heritage, through qualified public entities or private foundations with public utility status.
The application process has faced setbacks due to Covid-19 related disruptions, leading to backlogs and delays. Despite this, the new law is likely to allow for successful applicants to apply for citizenship 5 years from the date of their application, rather than 5 years from the issuance of the residency permit. This also allows for a much earlier return on investments.
Residency in Portugal extends to three generations of family members, allowing individuals and their families to live, work and study in Portugal, with a pathway to citizenship despite minimal residency requirements. The program also allows for visa-free travel within the Schengen area and the benefit of Portugal’s favorable tax regime.
Read Also : Best European Residency Visa for UK Investors in 2025
GREECE’S GOLDEN VISA
Greece has been known for offering one of the quickest pathways to European residency through the Greek Golden Visa program. However, the Prime Minister of Greece recently announced significant changes to the program, including revised investment thresholds and zoning classifications within Greece.
By raising the minimum investment threshold to 500,000 EUR for many areas of the country, an increase from 250,000 EUR, the update aimed to address concerns about the impact of the program on local property markets. The new rules demonstrate three distinct area zones in Greece with their own investment thresholds, with the most popular locations such as Athens, Thessaloniki, Mykonos, and Santorini having the highest minimum investment of EUR 800,000.
The Europe Golden Visa programs offer residency and potential citizenship after 7 years to individuals who make qualifying investments in various European countries. These investments typically involve purchasing real estate, investing in businesses, or contributing to government funds.
SPAIN’S GOLDEN VISA
Spain has now followed in the footsteps of Portugal, with the Prime Minister of Spain announcing plans to reform the program. Previously, the Spanish Golden Visa program allowed investors to obtain residency by investing a minimum of 500,000 EUR in real estate. In April 2024, Spain announced the removal of the real estate option as part of the government’s push to prioritize housing as a right rather than a business. Now, investors have the sole option of depositing a minimum of EUR 1,000,000 into an accredited Spanish bank.
Spain’s decision to remove the option of real estate investment from its Golden Visa program signals a departure from the traditional model of European Golden Visas, suggesting a move towards ultimately phasing out the program entirely.
Investors will benefit from visa free travel within the Schengen area, the right to work, live and study in Spain with access to an EU standard of education and healthcare, and minimal residency requirements. After 5 years of residency, individuals may apply for Spanish citizenship.
IMPORTANT INFORMATION
Due to government termination, applications will close on April 3, 2025
Read More : Spain Golden Visa Ends: What’s Next for European Residency?
HUNGARY’S GOLDEN VISA
Easy Path to EU Residency (NEW)
Hungary’s Golden Visa program is the new comer with its residency progra, by offering a streamlined path to 10-year residency (renewable) with visa-free travel throughout the Schengen Area.
Here’s the key benefit: The minimum investment starts at just EUR 250,000 (real estate funds) or EUR 500,000 (property purchase).
What makes it unique? Unlike other European Residency programs, Hungary Golden Visa Program has no language, education, or residency requirements, making it a flexible and obtainable option.
Hungary stands out with its affordability, relaxed requirements, and lower cost of living compared to many European capitals. This program is ideal for Investors seeking an alternative path to EU residency with long-term potential (permanent residency or citizenship).
Read Also : Understanding the Hungarian Golden Visa
ALTERNATIVES TO GOLDEN VISA PROGRAMS
France Talent Passport
Amidst the changes in Europe Golden Visa landscape, France’s Talent Passport program emerges as an alternative for investors seeking an EU residency. This program targets individuals with exceptional talent or skills, offering a streamlined pathway to residency without the need for significant financial investment. France’s Talent Passport provides a viable alternative option for those looking to establish roots in Europe.
A second option under the France Talent Passport is the Business Creation Program offering the same rights to live, work and study in France for all those included in the application. The financial requirements are a minimum investment of EUR 30,000 in an economically viable business in France and sufficient annual financial, corresponding to the latest statutory national minimum wage (SMIC) in France.
Swiss Residence Permit
Another compelling alternative to the traditional European Golden Visa programs is the Swiss Residence Permit, which offers a unique combination of benefits and a pathway to residency in one of the world’s most stable and prosperous nations. Known as the Swiss Lump Sum Taxation program, it provides an attractive option for high-net-worth individuals seeking a favorable tax environment and an exceptional quality of life.
The Swiss Residence Permit allows applicants to include their spouse and children under 18 as dependents, granting them the right to live and study in Switzerland. One of the key advantages of this program is access to Switzerland’s advantageous lump-sum taxation system. Under this system, permit holders are not obligated to disclose their foreign income and wealth, providing a significant level of financial privacy.
In addition to the tax benefits, Swiss Residence Permit holders enjoy visa-free travel within the Schengen Area for up to 90 days within a 180-day period. They also have access to Switzerland’s renowned high-quality public education and healthcare systems. The main applicant has no education or language requirements, though dependents must have A1 oral language skills or enroll in a language course.
The pathway to permanent residency is also appealing, with permit holders being eligible to apply after 5-10 years, depending on their nationality. Citizenship is possible after 10 years of residency. While the lump-sum taxation is assessed on a case-by-case basis and subject to negotiation, the favorable tax rates combined with Switzerland’s renowned stability make this an enticing choice for investors.
IN BRIEF
The Golden Visa programs in Europe offer residency and the possibility to get a European passport to individuals who make qualifying investments, typically in real estate or businesses. However, many countries are reforming or phasing out these programs due to concerns about housing markets and prioritizing skilled individuals.
Portugal has shifted its focus to fund investments, while Greece and Spain have increased minimum investment thresholds and removed real estate options. Hungary’s new EU residency program stands out for its affordability and lack of stringent requirements, offering a renewable 10-year residency. In light of these changes, France’s Talent Passport program provides an alternative for individuals with exceptional skills, requiring a lower financial commitment. Despite the evolving landscape, opportunities remain for investors seeking residency in Europe, with a focus on alternative investment avenues beyond traditional real estate options.
TAKE THE NEXT STEP
Despite these changes, each country continues to offer opportunities for investors seeking a residency in Europe. Alternative avenues to European golden visas, such as business contributions or fund investments, may become more prominent in the absence of real estate options.
Read Also : Golden Visa Rush: US Citizens Seeking New Residency Abroad
Why Harvey Law Group
Harvey Law Group stands out as a global leader in immigration and investment solutions, offering comprehensive and ethical legal services across 20 international offices. Unlike competitors who focus solely on visa-free travel, HLG provides sophisticated, holistic strategies for global mobility, carefully vetting investment opportunities and tailoring solutions to each client’s unique long-term goals. With expertise spanning citizenship by investment, EU residency programs, and international business law, the firm distinguishes itself through its commitment to integrity, thorough due diligence, and a client-first approach that goes beyond mere paperwork to create meaningful international opportunities for investors.
If you are interested in learning more about the Europe Golden Visa Programs, please contact your local Harvey Law Group (HLG) office here for more details. Founded in 1992, HLG is a leading multinational law firm with offices across Asia, North and South America, Europe, Africa, and the Middle East to cater to your specific needs for immigration and beyond.
