Golden visas have been incredibly popular in the EU for the past decade or so. That’s especially among high-networth foreign nationals and expats looking to secure residency or citizenship through investment. But some countries have scaled back their investor visa programmes while others have scrapped their schemes altogether. So, which EU countries still offer them?
What are Golden Visas?
Golden visa programmes grant temporary or permanent residency rights to non-EU nationals in exchange for a significant investment, typically in real estate, charity, or businesses. Some countries even extend full citizenship through these golden passports or citizenship by investment schemes.
The appeal is easy, visa-free travel and opportunities across the Schengen area. The golden visas have proved lucrative for many EU nations tapping foreign capital since the 2008 financial crisis. However, concerns around security risks, transparency and housing affordability have seen several EU states amend or abolish their golden visa pathways in recent years.
Which EU Countries Have Removed Golden Visas?
In 2022, the European Commission urged members to stop selling citizenship over security concerns heightened by Russia’s invasion of Ukraine. Spain abolished its entire Golden Visa programme on 3 April 2025 to ease property speculation pricing out locals. All investment routes — including real estate, shares, and government bonds — were closed to new applicants from that date. The Spanish government still welcomes non-EU nationals through the digital nomad programme.
The Netherlands scrapped its scheme in January 2024, while Ireland axed its immigrant investor programme a year earlier over tax abuse fears. The UK also ended its long-standing tier 1 investor visa in 2022.
Which EU Countries Still Offer Residency or Citizenship by Investment?
Despite the backlash, several EU nations still operate various golden visa and passport investment programmes.
Portugal
After amending its rules in October 2023, Portugal no longer offers a residency route through real estate investments alone. However, investors can still obtain a golden visa by creating jobs or purchasing shares in Portuguese companies. They can also invest from €250,000 in cultural heritage restoration or artistic production, or from €500,000 in a qualifying investment fund or scientific research.
Greece
Greece’s affordable €250,000 property investment threshold has proved popular. However, since 1 September 2024 this minimum was raised to €800,000 for prime areas such as Athens (Attica), Thessaloniki, Mykonos, Santorini, and islands with over 3,100 residents, and to €400,000 for all other regions.
Italy
Non-EU nationals can gain a 2-year renewable residence permit by investing at least €500,000 into an Italian limited company. After 10 years residing, they can apply for full citizenship.
Malta
Malta’s citizenship-by-investment (CBI) programme was terminated following the European Court of Justice ruling of 29 April 2025, which found the scheme incompatible with EU law. Malta now offers only a merit-based citizenship route and the Malta Permanent Residence Programme (MPRP) for residency by investment.
Hungary
Bucking the trend, Hungary announced it will reintroduce a suspended residency by investment scheme from July 2024. This offers two active routes: investment in a qualifying real estate fund from €250,000, or a €1m+ non-refundable donation to a higher education institution. A direct residential real estate purchase route (€500,000) was abolished in January 2025.
While golden visas still exist, requirements and regulations around them change on a rolling basis. It helps to have experts who know citizenship by investment programmes on your side. That’s why we are here at International Wealth Ventures.
