Residency by investment (RBI) programs let investors secure legal residency in a new country through real estate, business, or fund investment — without needing to relocate immediately. Here's how the five leading European programs compare.
Greece Golden Visa
Minimum Investment: €250,000 (real estate in less popular areas), €400,000–€800,000 (real estate in high-demand areas like Athens, Thessaloniki, Mykonos, or Santorini).
Investment Options
- Purchase residential or commercial real estate.
- Buy property for renovation or conversion at the lower €250,000 threshold.
- Other options include renting a hotel for 10 years, purchasing land for construction, or buying securities.
Key Benefits
- Lowest investment threshold in Europe (€250,000 in certain areas).
- No physical residency requirement, ideal for those not planning to live in Greece.
- Visa-free travel within the Schengen Area (29 countries).
- Family inclusion: spouse, children under 21 (or under 25 if financially dependent), and dependent parents.
- Pathway to permanent residency after 5 years or citizenship after 7 years of residence.
- Flat tax option (€100,000 annually) for tax residents, regardless of foreign income.
Processing Time: 4 months, one of the faster options.
Portugal Golden Visa
Minimum Investment: €500,000 (venture capital funds or business investment creating 10 jobs; the real estate investment route ended in 2023).
Key Benefits
- Flexible residency requirement: only 7 days per year in the first year, 14 days every two years thereafter.
- Visa-free Schengen Area travel.
- Family inclusion: spouse, dependent children under 25, and disabled children of any age.
- Pathway to citizenship after 5 years of residency, one of the shortest in Europe.
- Access to Portugal’s Non-Habitual Residency (NHR) tax regime for significant tax savings.
Processing Time: 8–10 months. Lifestyle appeal includes a high quality of life, stable economy, excellent healthcare, and a vibrant cultural scene.
Malta Permanent Residence Programme (MPRP)
Minimum Investment: €150,000 combined (€28,000–€58,000 government contribution, €300,000–€350,000 real estate purchase or €10,000–€12,000 annual rental, and €2,000 charitable donation). Applicants must also show €500,000 in assets, including €150,000 in liquid financial assets.
Key Benefits
- Fast-track permanent residency in 2–3 months, the fastest in Europe alongside Cyprus.
- No minimum stay requirement to maintain residency.
- Visa-free Schengen Area travel.
- Family inclusion: spouse, unmarried and dependent children (including over 18), and dependent parents/grandparents.
- Favorable tax regime: 15% flat tax on foreign income remitted to Malta under the Global Residence Programme.
- Pathway to citizenship via naturalization after 5–6 years of residence.
Processing Time: 2–3 months.
Hungary Guest Investor Program (GIP)
Minimum Investment: €250,000 (real estate investment, introduced July 1, 2024).
Key Benefits
- Affordable entry point, matching Greece and Italy.
- 10-year residency permit, renewable indefinitely.
- Visa-free Schengen Area travel.
- Family inclusion: spouse, dependent children, and possibly parents.
- No direct citizenship path, but permanent residency is possible after 8 years.
Italy Investor Visa
Minimum Investment: €250,000 (innovative startup), €500,000 (Italian company shares), €1,000,000 (cultural/educational/scientific projects), or €2,000,000 (government bonds).
Key Benefits
- Low investment option (€250,000 for startups), matching Greece’s affordability.
- No minimum stay requirement.
- Visa-free Schengen Area travel.
- Family inclusion: spouse, dependent children under 25, and disabled children.
- Pathway to permanent residency after 5 years; citizenship after 10 years of residence.
- Flat 7% income tax rate for new residents in certain regions.
Processing Time: 3–4 months.
Which Option Is Best?
The best RBI option depends on your priorities — budget, speed, lifestyle, or citizenship goals. Greece’s Golden Visa stands out as the most practical and best overall choice for most investors thanks to its affordability, flexibility (no physical residency requirement), fast ~4-month processing, real estate appreciation potential, and broad family inclusion.
Portugal offers a faster path to citizenship (5 years) and a strong tax regime, but its €500,000 minimum and 8–10 month processing time make it slower and less accessible. Malta offers the fastest processing (2–3 months) but combined costs above €150,000 and asset disclosure requirements add complexity. Italy matches Greece’s entry point for startups, but the investment carries more risk and a longer 10-year citizenship path. Hungary’s programme is promising but still new, with less certainty around process and a longer 8-year path to permanent residency.
For most investors, Greece’s Golden Visa with a €250,000 real estate investment is the best option due to its low cost, flexibility, quick processing, and access to Schengen mobility and lifestyle benefits. If citizenship is the priority, Portugal’s Golden Visa remains a strong alternative due to its shorter 5-year citizenship path.