What Is a Golden Visa? Every Active Programme Compared (2026)

In short

A golden visa is residence permission granted in return for a qualifying investment, not a passport or guaranteed citizenship. Official routes include Greek property investments starting at €250,000 in specified cases and UAE real-estate investment of AED 2 million. Costs, residence rights and family eligibility differ; current rules must be checked before committing funds.

What is a golden visa, and how does it work?

A golden visa is an informal name for an investment-linked residence permit: an applicant makes a qualifying investment, passes the required checks and receives permission to reside in the issuing country.

There is no international golden-visa standard. The investment might be property, an eligible fund, a business or another approved asset. Some routes require active involvement; others accommodate investors who spend little time in the country.

Three distinctions matter:

• Residence is not citizenship. A residence permit does not confer nationality, a passport or an unconditional right to remain forever.
• Investment is not the total cost. Taxes, government charges, documentation and professional expenses sit alongside the qualifying capital.
• Eligibility is not approval. Meeting an investment threshold does not override immigration, security or source-of-funds checks.

A typical application involves selecting an eligible investment, documenting the applicant’s identity and finances, completing the investment at the prescribed stage, applying for residence and attending any required biometric appointment. The sequence differs between jurisdictions.

Does a golden visa let you live anywhere in Europe?

No. A Greek or Portuguese residence permit principally provides residence rights in Greece or Portugal respectively—not throughout the European Union.

A valid residence permit issued by a Schengen country generally permits short visits to other Schengen countries for up to 90 days in any 180-day period, subject to the applicable entry conditions. It does not ordinarily authorise someone to move permanently or take employment there.

Nor are employment rights uniform within the issuing country. Greece’s investor residence permit does not provide general access to employment. Applicants intending to work, rather than simply own investments or manage their affairs, should examine the precise permission offered.

Official references: European Commission: Schengen area; Greek Ministry of Migration and Asylum.

How much does a golden visa cost in 2026?

The cost is the qualifying investment plus government fees, acquisition taxes, documentation and ongoing ownership or compliance expenses; there is no single global golden-visa price.

For an intelligible comparison, separate capital committed from money spent. Property or fund capital may eventually be recoverable, but its value is not guaranteed. Application charges, taxes and professional fees generally are not recoverable.

The following are established official thresholds, not comprehensive quotations or assurances that a particular transaction qualifies.

Portugal also has other qualifying routes. Its former property-purchase and straightforward capital-transfer routes are not available to new applicants under the revised framework. A property advertised as “golden-visa eligible” in Portugal therefore warrants particular scrutiny.

In Greece’s ordinary €400,000 and €800,000 property categories, the investment generally must concern a single property, with a 120-square-metre minimum for the relevant built-property category. The €250,000 exceptions have different conditions. Conversion or restoration eligibility should be established legally before exchange, not inferred from an estate agent’s description.

What are the government fees for an applicant and a family?

A genuinely complete fee table must identify a country, application type, family composition and effective fee schedule. “Every official fee” cannot responsibly be reduced to one worldwide figure.

The table below uses Greece’s initial investor-property residence application, with a family defined as the investor, a spouse and two children under 18. It distinguishes the official application charges from variable transaction costs.

2026 verification caveat: the amounts below reflect the official Greek fee structure, but this guide does not certify a live September 2026 fee quotation. Confirm the current payment codes and charges with the Ministry before filing.

This is a permit-fee breakdown, not an all-inclusive acquisition quote. Legal advice, notarial work, translations, insurance, bank charges, building due diligence and property maintenance must be budgeted separately. Some services may be compulsory without having a single universal price.

Do not apply the Greek family total to Portugal or the UAE. Their charging structures differ, and UAE costs can also depend on the issuing authority and associated identity, medical and residence services.

Official references: Greek Ministry of Migration and Asylum; Greek tax authority, AADE; Portugal’s immigration authority, AIMA; UAE Government: Golden visa.

Who qualifies for a golden visa, and can family members apply?

Applicants qualify by satisfying a particular country’s investment, immigration and documentary requirements; eligible family members can often obtain linked residence permission, but the definitions differ.

Having sufficient wealth is only the starting point. Authorities may require police certificates, evidence of the investment, insurance, civil-status documents and explanations of the origin of funds. Banks and investment providers conduct their own checks, which do not replace immigration scrutiny.

An investment accepted by a bank is not necessarily an investment accepted by the residence programme.

Age limits are especially important where a child is approaching adulthood. Confirm whether eligibility is assessed at submission, decision or another prescribed stage, and what happens at renewal.

“Family of four” is therefore a pricing assumption, not an immigration category. A couple with two young children can face different requirements from a couple supporting two adult university students.

Applicants should also distinguish legal eligibility from practical bankability. Nationality, sanctions exposure, complex ownership structures or poorly documented transfers may create obstacles even where the applicant appears to meet the headline investment requirement.

Official references: Greek Ministry of Migration and Asylum; AIMA: family reunification; UAE Government Golden visa guidance.

How long does a golden visa take, and how much time must you spend there?

There is no dependable universal processing period: preparation, investment completion, government assessment and card issuance are separate stages, while physical-presence requirements depend on the programme.

A quoted number of months is useful only if it identifies the authority, application category, starting point and date of measurement. This guide does not supply a supposedly current processing estimate where an official, applicable service standard cannot be confirmed.

Ask whether a published timeline includes:

1. Opening accounts and satisfying financial checks.
2. Completing the qualifying investment.
3. Collecting, translating and authenticating documents.
4. Waiting for appointments or biometrics.
5. Government assessment and requests for further evidence.
6. Producing and delivering the residence card.

An application receipt should not be assumed to carry every right of the final permit, particularly for international travel.

What are the residence and absence rules?

Check how Portugal’s statutory presence requirements are applied to the validity period of the permit actually issued.

Immigration residence and tax residence also require separate analysis. A low-stay permit does not automatically move someone’s tax residence, end obligations elsewhere or shelter foreign income. Equally, spending substantial time in a country can create obligations that the investor did not anticipate.

Official references: Greek Ministry of Migration and Asylum; AIMA’s ARI guidance; UAE Government Golden visa guidance.

Which golden visa is best, and can it lead to citizenship?

The best route depends on the rights and obligations the applicant needs; citizenship is a separate legal process, not an investment product included with residence.

Begin with the intended outcome: a place to live, family relocation, regional travel, education, business access or a possible long-term nationality application. Then test the programme against that purpose.

For a reader comparing Greece, Portugal and the UAE:

• Greece offers a property-based route, but location, property category, lawful use and resale prospects matter as much as the threshold.
• Portugal requires scrutiny of the investment’s substance and the current residence administration; its former residential-property proposition is no longer the basis for a new application.
• The UAE offers long-duration residence under several categories, but should not be assessed as if it offered an ordinary residence-to-citizenship pathway.

Older comparisons may also list programmes that have closed. Spain ended new investor-visa applications from 3 April 2025, subject to transitional provisions for existing cases. Its former property threshold should not appear as a currently available choice for a new applicant.

Before relying on any citizenship timetable, verify the current nationality law, residence-counting rules, physical-presence expectations, language requirements and treatment of absences. Years holding a residence card and years qualifying for naturalisation are not necessarily equivalent.

Finally, examine the exit. Selling a qualifying asset, redeeming a fund or ceasing to satisfy the investment conditions can affect residence renewal. Neither a residence permit nor government acceptance of an investment guarantees liquidity, capital protection or a profitable sale.

The useful comparison is therefore not simply “Which golden visa is cheapest?” It is: “Which currently available residence route provides the rights required, at an acceptable total cost, with conditions the family can sustain?”

Official reference: Spain’s official gazette, BOE: Organic Law 1/2025.

Step-by-step timeline

A golden visa application is best treated as a sequence of checks, commitments and approvals, rather than a single purchase. The order differs between countries: some require the qualifying investment before submission, while others allow preliminary approval first. Establish that sequence before transferring money.

There is no defensible worldwide “typical duration” for these stages. A government’s published service standard may cover only one part of the process, not preparation, banking checks or appointment queues.

Common sources of delay include inconsistent names across documents, incomplete financial histories, expired certificates and missing legalisation. Investment checks can also stall where proceeds pass through several companies or family accounts. A clear evidence trail is generally more useful than a large, unstructured bundle of documents.

Tax and stay requirements

An immigration adviser’s confirmation that a permit requires little physical presence is not a tax opinion. Review three separate questions: what keeps the residence permission valid, what makes someone tax-resident, and what income or assets the country may tax even without tax residence.

Tax residence depends on domestic law and, where relevant, a tax treaty. The EU’s Your Europe guidance explains that there are no EU-wide rules determining how the income of people living, working or spending time abroad must be taxed. Time spent in a country matters, but a permanent home and personal or economic connections can also matter.

Do not apply a familiar day-count shortcut universally. The UK’s Statutory Residence Test, for example, considers days, work and connections to the UK. Other jurisdictions use their own tests. Two countries may initially regard the same person as resident; an applicable treaty may then provide a way to resolve residence for treaty purposes.

Minimum physical presence is an immigration condition, not a tax safe harbour. Build separate records for residence-permit compliance and tax analysis. A travel log, supported by tickets and accommodation records, is a useful starting point, but it does not replace examination of homes, employment, family arrangements and business activity.

Before changing travel patterns, assess:

• Where employment duties and business decisions will actually take place.
• Whether a home remains available in the previous country.
• Where a spouse or partner and dependent children will live.
• Whether local-source income creates obligations despite non-residence.
• Whether departure triggers reporting or other obligations in the previous jurisdiction.

Renewal needs its own compliance plan. Portugal’s official AIMA investment-residence guidance illustrates why the original eligibility check is not enough: investment and residence conditions must be considered over the life of the permission, not merely at entry. Confirm the applicable rules for the particular route and approval date.

Maintain an evidence file and check the renewal requirements before selling, refinancing or restructuring a qualifying asset. Changes to family circumstances should also be reviewed before the next application, rather than discovered while preparing it.

How it compares

For someone seeking residence abroad, the closest practical alternatives are often an entrepreneur route or employer-sponsored permission. Neither is a direct substitute for investment residence: both usually depend on an activity beyond committing capital.

Investment residence merits consideration where committing capital fits an existing financial plan and the applicant values flexibility over employment. A founder route suits someone genuinely intending to develop and run a qualifying enterprise. Employment-based residence suits someone with an appropriate job opportunity who would rather retain capital for other purposes.

Compare actual routes, not their labels. The UK’s Innovator Founder visa, for example, requires an endorsed business meeting specified criteria; its Skilled Worker visa depends on eligible sponsored employment. These are useful illustrations of the distinction, not universal templates for other countries.

Common mistakes and what they cost

Choosing the asset before checking the immigration rule. An attractive property, fund or company is not necessarily a qualifying investment. Establish eligibility independently of the seller’s description. The potential cost includes an unusable investment, transaction expenses and a second capital commitment if the first cannot support the application.

Confusing qualifying capital with the total budget. Keep the investment separate from official charges, document costs, professional advice and ongoing holding expenses. Request itemised quotations and distinguish mandatory expenditure from optional services. Without that separation, the applicant cannot judge liquidity needs or compare routes properly.

Assuming refundable means risk-free. Read the contract’s refund trigger, exclusions, deductions and payment mechanism. An immigration refusal and an investment loss are different events. Consider what happens if the application is delayed rather than refused, or if the applicant withdraws voluntarily.

Treating residence approval as investment due diligence. Immigration eligibility does not establish that an asset is fairly priced, liquid or suitable. Examine ownership, leverage, governance, conflicts of interest and exit restrictions separately. The financial consequences of a poor investment can persist after the immigration objective has been achieved.

Moving money before documenting its origin. Prepare evidence linking the funds to their underlying source, such as earnings, a disposal or an inheritance. Transfers between related accounts do not explain how the wealth arose. Reconstructing the history later can mean additional professional work and delayed submission.

Failing to plan the exit. Before investing, identify which authority must confirm that the qualifying commitment can end without affecting status. Do not base a sale on an assumed future renewal, permanent residence approval or citizenship outcome. Immigration permission and contractual exit rights need to work together.

Why do governments offer golden visas?

The term ‘golden visa’ became popular after the 2008 global financial crisis. Countries including Portugal and Greece launched these initiatives to attract foreign direct investment, stimulate their property markets and boost economic recovery. In exchange for this capital, the state grants the investor and their family residence rights.

By 2026, the landscape has evolved. While some programmes have closed due to political pressure from bodies like the European Union, others have adapted their focus. Newer routes may prioritise investment in social housing, climate technology or other targeted economic sectors over simple luxury-property acquisition.

What are the key benefits for investors?

For many high-net-worth individuals, a golden visa is a sophisticated asset allocation strategy and personal planning tool. Key advantages include:

• A ‘Plan B’: In an era of geopolitical volatility, holding a legal right to reside in a stable and prosperous nation is an invaluable insurance policy for an investor and their family.
• Currency diversification: Investing in assets denominated in euros, or in a US dollar-pegged economy like the UAE, can help hedge against depreciation and instability in an investor’s home currency.
• Education and legacy: Investors can usually include their spouse and dependent children in an application. This can grant children access to high-quality European or international schools and universities, often at the same tuition rates as local students rather than the higher fees charged to other international students.

Programme comparison at a glance

The table below summarises key features of several popular investment residence programmes, including some not detailed elsewhere in this guide. Citizenship timelines are typical statutory minimums and do not account for physical presence, language tests or other naturalisation requirements. The UAE does not offer a statutory residence-to-citizenship pathway.

Frequently asked questions

Can I apply for a golden visa without buying property?

Yes, some investment-residence routes allow qualifying investments other than property. Portugal’s AIMA guidance is an example of why applicants should consult the current official list rather than assume that “golden visa” means a home purchase. Check the permitted structure, the evidence required and the continuing conditions before subscribing. An investment’s commercial name does not establish immigration eligibility.

Can I get a mortgage for a golden visa investment?

Do not assume that borrowed money or a mortgage will count towards the qualifying investment. The answer depends on the programme’s funding and ownership rules and the proposed transaction. Ask the immigration authority to confirm how financing is treated before signing. A lender’s willingness to finance an asset does not establish that the financed purchase meets residence requirements.

Can I work with a golden visa?

Work rights depend on the permission granted, so check the official conditions of the particular route. Residence, employment and self-employment are related but distinct questions. Also check the position of accompanying family members rather than assuming everyone receives identical rights. Even where work is permitted, a regulated profession may involve a separate licensing or qualification-recognition process.

Does a golden visa make me tax resident?

A golden visa does not, by itself, settle whether you are tax-resident. Tax authorities apply the relevant domestic rules, and a treaty may matter where countries’ claims overlap. Review actual travel, available homes, work and family connections. The OECD also cautions that residence obtained through an investment scheme does not automatically establish tax residence or end residence elsewhere.

Can I sell my investment after my golden visa is approved?

Do not sell solely because the initial application has been approved. First confirm the continuing investment conditions and the effect of disposal on renewal or any pending change of status. Obtain advice on the specific permission and investment structure. A contractual right to sell, redeem or transfer an asset is not confirmation that exercising it is immigration-compliant.

Can I include my golden visa investment in a company?

A company structure should be used only after its eligibility has been confirmed under the programme’s rules. Check whose name must appear on the investment, how ownership must be evidenced and whether changes in shareholders affect compliance. Separately assess the tax and governance consequences. A structure that is convenient for estate planning may complicate the residence application.

What happens if my golden visa application is refused?

A refusal requires separate examination of the immigration decision and the investment contracts. The decision notice is the starting point for checking any review or challenge procedure and applicable deadline. Refund rights must be established from the relevant official rules and contractual terms. Do not assume that refusal automatically reverses an investment or returns every payment already made.

Are golden visa investments guaranteed by the government?

Treat government approval of an immigration route as distinct from any financial guarantee. A qualifying investment still needs its own assessment of capital risk, liquidity and contractual protection. If a seller claims that returns or principal are guaranteed, identify the guarantor and read the enforceable terms. Programme eligibility alone is not evidence supporting that claim.

Do I need a lawyer to apply for a golden visa?

Whether professional representation is mandatory depends on the route, but legal advice can be valuable even where direct applications are possible. Consider independent advice when investment contracts, family structures or several tax jurisdictions are involved. Establish whom each adviser represents, how they are paid and what their engagement covers. A seller’s adviser should not automatically be treated as your independent adviser.

Can golden visa rules change after I apply?

Yes, programme rules can change, but the effect on an existing application depends on the legislation and any transitional provisions. Check which event determines protection, if any: an investment, submission, approval or another specified milestone. Keep dated evidence of each step. Neither a reservation agreement nor a seller’s assurance is a substitute for the official transitional text.

For a forward look at how programmes may shift next year, see our citizenship and golden visa outlook for 2027.

Related guides

• The Best Golden Visa Programs in 2026: Ranked by Value
• How Much Time Must You Spend in the Country? Golden Visa Stay Requirements Compared
• Golden Visa vs Digital Nomad Visa: Which Suits You?
• The Complete Guide to the Greece Golden Visa in 2026
• The Complete Guide to the Thailand Elite Visa (Privilege) in 2026

Is the investment refundable?

Yes, in most cases. If you invest in a property or a fund, you can typically sell the asset once you have secured permanent residency or citizenship, according to that country’s specific laws. However, if the route requires a non-refundable ‘donation’ or ‘contribution’, that capital is not recoverable.

Do I have to live in the country to keep the visa?

Most golden visas have low physical presence requirements for renewing the residence permit itself. Some require just a few days of presence per year. However, this is distinct from the requirements for permanent residency or citizenship. If you eventually want to apply for naturalisation, you will almost certainly need to demonstrate significant, continuous physical presence in the country for a number of years.

Sources

• AIMA — Autorização de Residência para Atividade de Investimento (Art. 90.º-A)
• European Union — Income taxes abroad
• HM Revenue & Customs — Tax on foreign income: UK residence and tax
• UK Home Office — Innovator Founder visa
• UK Home Office — Skilled Worker visa
• OECD — Residence/Citizenship by investment schemes
• European Commission — EU Immigration Portal

What is Portugal’s 2026 citizenship rule?

Under Lei Orgânica n.º 1/2026 in the Diário da República, in force since 19 May 2026, Portuguese naturalisation generally requires 10 years of legal residence or 7 years for EU and CPLP nationals, counted from the first residence permit issue date rather than the application date. Citizenship applications submitted before 19 May 2026 remain under the old rules. The golden visa residence programme is unchanged.