Golden Visa countries: Full guide

Golden Visa programs give you a path to residency or citizenship through investment, often in real estate. Several Golden Visa countries - particularly in the European Union and Latin America - use these programs to stimulate the local economy.

If you want to start a new life abroad (and enjoy the right to live, work, study, and even receive healthcare in a foreign country), then a Golden Visa program might be just what you need.

But there's a lot to consider before you make the leap. Read on to learn more about the countries with Golden Visa programs, investment requirements, and long-term implications.

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Table of contents
What is a Golden Visa? Benefits of a Golden Visa Which countries have Golden Visa programs? Buying property abroad? Send money the hassle-free way with Wise What are the requirements for a Golden Visa? How to get a Golden Visa: step by step How long does it take to get a Golden Visa? Which countries have the best Golden Visa? Golden visa countries FAQs

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What is a Golden Visa?

A Golden Visa is basically your fast track to residency (or even citizenship) in a foreign country. It's a type of residence permit that gives non-citizens the right to live in a foreign country in exchange for an investment - usually a pretty hefty one.

Golden Visas attract foreign capital to boost the country's economy. Unlike traditional immigration paths, Golden Visas typically don't require extensive periods of physical presence or language proficiency, at least initially.

Investment options often include real estate purchases, government bonds, and business investments, but it ultimately depends on the county you're getting residency by investment in.

Benefits of a Golden Visa

Golden Visa programs are popular for a few good reasons. First off, you get to live in a new country. But there's more to it than just that.

• Visa-free travel: Residency in certain countries can make movement across borders easier, especially in Europe's Schengen Area

• Family benefits: Most programs allow you to get residency for your spouse and children, too

• Path to permanent residency or citizenship: Many Golden Visa programs allow you to apply for permanent residency or citizenship, usually after 5-10 years

• Investment potential: Particularly with real estate programs, your visa investment will most likely grow your wealth over time

• Access to quality healthcare and education: Golden Visa holders can access high-quality healthcare and education systems, especially in the EU

• Better lifestyle: Enjoy better living, weather, food, and cultural experiences

European Golden Visa programs are particularly attractive, but some countries in Latin America and the Caribbean, such as Dominica, come with lots of benefits, too.

Which countries have Golden Visa programs?

Here’s a look at some of the best Golden Visa countries around the world:

Country	Program	Minimum Investment
Cyprus	Permanent residency	300,000 EUR¹
Greece	Permanent residency	250,000 EUR²
Malta	Permanent residency	175,000 EUR³
Italy	Permanent residency	250,000-2,000,000 EUR⁴
Dominica	Citizenship	200,000 USD⁵
Spain	Permanent residency	500,000 EUR⁶
Turkey	Citizenship	400,000 USD⁷
Costa Rica	Permanent residency	150,000 USD⁸
Hungary	Permanent residency	250,000 EUR⁹
Latvia	Permanent residency	60,000 USD¹⁰

🔍 Wondering how much that would cost in USD? Check out this handy conversion calculator:

Golden Visa programs are popular, but some countries are deciding to gradually phase them out. For example, The Netherlands ended its golden visa scheme in January 2024.¹¹

Portugal removed real estate investment as a way to obtain residency in 2023, but it's still possible to participate in an investment program by contributing to a qualified investment fund, artistic production, or the creation of jobs.¹²

Spain has promised to follow suit and abolish its Golden Visa investment programs, but as of September 2024, it's still a perfectly functional way to get EU residency.¹³

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What are the requirements for a Golden Visa?

Getting a Golden Visa takes more than just making the minimum investment. Specific requirements depend on the country you're applying in, but you should typically be prepared for the following:

• Clean criminal record: You'll usually need to get a certificate of good conduct or similar documents from the county you currently live in and pass a criminal background check

• Proof of funds: Foreign investors need to show that their money comes from legitimate sources, so you'll likely need to provide bank statements, tax returns, and other ways to explain how you accumulated your wealth

• Investment: Most Golden Visa programs allow you to invest in real estate, government bonds, job creation, or bank deposits

• Application fees: In addition to the minimum investment threshold, you'll also have to cover processing fees

• Minimum stay requirements: Some countries make you spend a certain amount of time living there to maintain your residency, typically a few months out of the year

• Due diligence: You may have to go through additional financial, criminal and security screenings

• Age: Most programs have minimum age requirements, typically 18 years old for the main applicant

• Language proficiency: You usually don't have to know the language to apply for residency, but you might have to learn it to get citizenship

Navigating the requirements and paperwork for residency and citizenship programs can take a toll, so many people use immigration lawyers or agencies that specialize in applying for Golden Visas.

How to get a Golden Visa: step by step

The exact process varies by country, but here's a general outline of what to expect.

Step 1: Choose your country

Research different Golden Visa programs and look at factors like investment requirements, processing times and long-term benefits. You can also consult with immigration lawyers

Step 2: Gather documents

You'll typically need a valid passport, birth certificate, criminal record check, proof of income or wealth, bank statements, medical certificates and other documents that'll need to be translated into the language of the country you want to get residency by investment in

Step 3: Make your investment

Buy property, make a business investment, support a national development fund, or choose any other available investment option for your country

Step 4: Complete your application

Fill out forms and pay application and processing fees

Step 5: Wait for processing

Wait for the authorities to process your application

Step 6: Complete biometrics and interview

Go to appointments for biometric data collection (typically fingerprints and photographs). Some countries may also need you to do an interview

Step 7: Receive your approval

Pay any final fees and collect your Golden Visa or residence permit

With some Golden Visa programs, you may be able to get permanent residency or citizenship after a certain amount of time.

How long does it take to get a Golden Visa?

It depends. Some countries, like Greece, might have you sorted in a couple of months. Others could keep you hanging for up to six months or more.

Factors that affect processing times include:

• Application volume
• Complexity of your investment
• How quickly you provide documents
• Background check duration

Submitting a thorough, well-prepared application can make the process go by faster. Some countries may also offer fast-track options for an additional fee.

Which countries have the best Golden Visa?

So, what are the best citizenship by investment countries? It ultimately depends on your personal preferences and goals, but Cyprus, Greece, Malta, Italy, and Dominica all have a popular residency-by-investment program.

Cyprus

Cyprus has an attractive program for people wanting quick European Union access. The island has a relatively low cost of living, no inheritance tax, low crime levels, and a high-quality healthcare system.

Minimum investment: 300,000 EUR¹

Processing time: 2 months¹

Things to know:

• You'll get the right to live and study in Cyprus
• You don't have to reside in Cyprus, but you'll have to visit once every two years
• Your spouse and children under 25 years can get residency, too
• You can start the paperwork outside of Cyprus, but you'll have to visit for biometric capturing
• You'll be able to apply for Cyprus citizenship after 5 years¹

Greece

The Greece Golden Visa program is one of the most affordable and straightforward in Europe. It gives you visa-free access to the Schengen area countries, and Greece itself is a beautiful country with a rich cultural heritage and good weather.

Minimum investment: 250,000 EUR in a specialized real estate purchase²

Processing time: 3-4 months²

Things to know:

• There's no requirement to live in Greece or visit to maintain your residency
• You can rent out your property and generate passive income
• Your spouse, children under the age of 21, parents, and in-laws can get residency, too
• You can apply for EU citizenship after 7 years of residence²
• There are other ways to invest, such as purchasing Greek government bonds, but making the minimum real estate investment of 250,000 EUR to convert commercial property into residential or restore certain buildings is the most popular option

Malta

Malta has a stable political and economic environment, a strategic location in the Mediterranean and a beautiful climate. It's one of the best Golden Visas around the world with English as one of the official languages (along with Maltese).

Minimum investment: Starts at 175,000 EUR with the following options³:

• Property purchase of 350,000 EUR (300,000 EUR in South Malta or Gozo) or a property lease of 12,000 EUR per year (EUR 10,000 in South Malta or Gozo) for a minimum of five years
• A contribution to the local economy (28,000 EUR with real estate purchase and 58,000 with real estate lease)
• A 2,000 EUR donation to a non-governmental organization
• A 40,000 EUR administration fee

Processing time: 4-6 months³

Things to know:

• You'll get visa-free access to Europe for 90 days out of a 180-day period³
• There's no residence requirement, so you don't actually have to live in Malta
• You and your family members will be able to live, work, and study in Malta

Italy

Italy is famous for its art, food, and architecture, but it's also one of the best Golden Visa countries. Purchasing real estate doesn't get you Italian residency, but you can invest in government bonds and shares or donate to public projects.

Minimum investment: 250,000 EUR when investing in qualifying start-ups⁴

Processing time: 3-4 months⁴

Things to know:

• You can invest in Italian government bonds, Italian shares, and projects of public interest with the minimum investment threshold ranging from 250,000 EUR to 2,000,000 EUR depending on the program⁴
• You'll get a Golden Visa for 2 years, and you'll be able to renew it for 3 more⁴
• You'll need to maintain your investment for a certain time, but there's no requirement to live in Italy

Dominica

One of the cheapest Golden Visa countries, Dominica is a Caribbean island that gives you visa-free access to 140+ countries. It's one of the few Golden Visa programs where you don't just get residency but qualify for citizenship with fast processing.

Minimum investment: 200,000 USD⁵

Processing time: 3 months⁵

Things to know:

• You'll be granted full citizenship by investment that you can pass down to future generations
• You can purchase real estate (that you'll be able to sell later) or make a non-refundable contribution to the Economic Development Fund
• There is no physical residence requirement or dual citizenship restrictions

💡 Interested in citizenship? Learn more about the easiest countries to get citizenship in our full guide.

Golden visa countries FAQs

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Which country gives the fastest citizenship by investment?

You can get Dominica citizenship in approximately 3 months by making a 200,000 USD investment in real estate or the Economic Development Fund.⁵

In the European Union, the path to citizenship typically takes 5-10 years. Typically, you'll first have to get residency. You'll then be able to apply for citizenship, but that might come with requirements like learning the language or fully relocating to the country.

Which Golden Visa is the cheapest?

Latvia is one of the cheapest Golden Visa countries. You can get residency by making a 60,000 EUR investment in the Latvian economy.

You also have to demonstrate that you can maintain your standard of living and won't burden the Latvian government (this starts at 15,480 EUR per year for a single applicant).¹⁰

Alternatively, you can purchase real estate property in Latvia for at least 250,000 EUR, but Greece, Dominica, and Hungary offer Golden Visas for approximately that amount as well.¹⁰

What are the disadvantages of a Golden Visa?

Golden Visas come with high upfront costs. If you're purchasing real estate, you're also running a risk of your investment not performing as expected, especially in countries with weaker economies like Dominica and Greece.

Is Spain ending its Golden Visa program?

As of September 2024, Spain has announced plans to significantly restrict its Golden Visa program, particularly for real estate investments. But the Spanish government hasn't taken any specific measures so far.¹³

Which European countries offer a Golden Visa?

Cyprus, Greece, Malta, Italy, Spain, Hungary, and Latvia are some of the European countries that offer Golden Visas. It's still possible to get a Portugal Golden Visa as well, but not through a real estate investment.¹²

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Golden Visas are a smart and fast way to get residency in another country, and the investment can start as low as 60,000 USD for some countries.

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Sources

1. Henley & Partners - Cyprus
2. Henley & Partners - Greece
3. Henley & Partners - Malta
4. Henley & Partners- Italy
5. Henley & Partners- Dominica
6. Henley & Partners - Spain
7. Henley & Partners - Turkey
8. Henley & Partners - Costa Rica
9. Henley & Partners - Hungary
10. Henley & Partners- Latvia
11. Investment Visa - The Netherlands abolishes its Golden Visa program
12. Goldcrest - Is the Portugal Golden Visa ending?
13. EuroNews - Spain promises a total ban on Golden Visas

Sources checked 09.18.2024