Countries with Golden Visa Programs: The Best EU Golden Visa for 2025

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In today’s fast-changing world, Golden Visa programs have become the go-to solution for high-net-worth individuals seeking second residency or citizenship to secure financial stability, global mobility, and a better quality of life. Among all regions, Europe’s Golden Visa programs stand out for their flexibility, lifestyle benefits, and access to the EU market.

But which Golden Visa program is the best? With evolving immigration policies in 2025, it’s critical to choose a program that aligns with your goals. This guide compares the top Golden Visa countries in Europe and highlights why Portugal’s Golden Visa program outshines the rest

Why Portugal Offers the Best EU Golden Visa Program?

Amid tightening global immigration rules, Portugal’s Golden Visa program consistently ranks as one of the best Golden Visa in Europe for its unmatched advantages in investment options, residency flexibility, and fast citizenship pathways.

1. Diverse and Secure Investment Options

Portugal offers a variety of Golden Visa investments that cater to different goals while ensuring investor safety. Even after the terminationn of the real estate pathway in 2023, Portugal’s program remains highly competitive:

  • Investment Funds: Invest €500,000 in funds sectors like renewable energy, agriculture, hospitality, international schools and SME market, regulated by the Portuguese Securities Market Commission (CMVM) and the European Securities and Markets Authority (ESMA).  Subscription fees are much lower than those funds option in Hungary and Greece.
  • Job Creation: Invest €500,000 in businesses that generate at least five full-time jobs, boosting the economy.
  • Science and Research: Contribute €500,000 or more to cutting-edge research projects.
  • Cultural Heritage Preservation: Donate a minimum of €250,000 (can be as low as €200,000 for low-density areas) to restore historic sites or support the arts and cultural projects.

These investments are not just financially secure but also allow you to contribute to Portugal’s cultural and economic development.

2. Minimal Residency Requirements for Maximum Freedom

Portugal’s low residency requirements make it one of the most flexible Golden Visa programs in Europe:

  • Stay just 7 days per year (or 14 days every two years) to maintain residency.

This allows you to enjoy the benefits of EU residency without disrupting your current lifestyle or business commitments.

3. Fastest Path to EU Citizenship

Portugal’s program is often considered the best EU Golden Visa for those seeking a quick and straightforward citizenship process:

  • Obtain EU citizenship in just 5 years of legal residency.
  • The clock starts ticking from your initial application date, including processing time—making the pathway even faster.

This efficient route makes Portugal the ideal choice for investors looking to secure an EU passport.

4.  Exit of Investment after 5 years

Investors can apply for Permanent Resident after 5 years and  exit their investment without affecting their PR status.

5. Dual Benefits: Quality of Life and Financial Advantages

Portugal’s Golden Visa benefits extend beyond residency and citizenship. It provides a higher standard of living and exceptional financial opportunities:

Lifestyle Benefits:

  • Schengen Zone Access: Travel visa-free to 27 Schengen countries.
  • Family Inclusion: Bring your spouse, minor children, and dependent parents under one application.
  • World-Class Living: Enjoy Portugal’s mild climate, coastal lines, over 300 days of sunshine,  low crime rates, international schools, and top-tier healthcare.

Tax Benefits:

  • Non-tax residents (staying fewer than 183 days per year) are exempt from global income tax.
  • Tax residents eEligible investors can also apply and enroll in the Non-Habitual Resident (NHR 2.0) program, enjoying tax exemptions on mostspecific income categories for up to 10 years, optimizing wealth management.

Drawback:

  • €200,000 or €250,000 Donation program is hard to come by

Other European Golden Visa Programs: A Closer Look

Aside from Portugal, other European countries such as Spain, Italy, Greece, Hungary, and Turkey also have distinctive Golden Visa or citizenship-by-investment programs. While these programs aim to attract high-net-worth individuals and international talent, they differ significantly in terms of investment thresholds, residency requirements, and citizenship conditions. Here’s an analysis of their key features:

1. Spain: Golden Visa Program Terminated

Spain’s Golden Visa program officially concluded on April 3, 2025, marking the end of its 12-year operation. Launched in 2013, the program issued 14,576 Golden Visas, contributing significantly to the Spanish economy.

The primary reason for termination was its adverse impact on the local real estate market. Prime Minister Sánchez emphasized the government’s commitment to ensuring “housing is a right, not a speculative tool.” Indeed, 95% of Golden Visas were obtained via real estate investment (minimum €500,000), which inflated housing prices and diminished affordability for Spanish residents.

The Spanish Congress approved the program’s termination in December 2024. On January 3, 2025, Organic Law 1/2025 was published, confirming the program would end three months later. As of April 3, 2025, investment is no longer a pathway for non-EU nationals to gain Spanish residency.

2. Italy: Low Investment but Long Wait

Italy’s Golden Visa boasts one of Europe’s lowest investment thresholds at €250,000 for innovative startup investments. However, it comes with significant drawbacks:

Benefits:

  • Low investment threshold at €250,000

Drawbacks

  • Limited and riskier investment options: Investing in innovative startups is not suitable for all investors due to higher risk and less regulation compared to fund investments.
  • Protracted citizenship pathway: Acquiring Italian citizenship requires 10 years of legal residency, one of Europe’s longest waiting periods. 

Despite its low entry cost, Italy’s extended naturalization timeline and narrow investment scope make it less appealing for investors seeking flexibility and quicker access to EU citizenship.

3. Greece: Tiered Thresholds, Limited Choices

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Greece’s Golden Visa program underwent significant changes effective August 31, 2024, introducing a tiered investment system:

  • High-demand areas (€800,000): Includes the entire Attica region (Athens), Thessaloniki, Mykonos, Santorini, and 32 other popular islands like Crete and Corfu.
  • Other regions (€400,000): All other Greek regions.
  • Special categories (€250,000): For converting commercial properties to residential use or restoring historically significant properties.

Crucially, new regulations mandate investment in a single property of at least 120 square meters for residential properties. Furthermore, purchased properties cannot be used for short-term rentals (e.g., Airbnb), with violations risking permit revocation and a €50,000 fine.

The Greek government stated these changes aim to improve housing affordability for locals. 

While Greece offers a €400,000 fund investment option, the market remains underdeveloped with limited choices, making it unpopular.

Benefits:

  • Low investment threshold of €250,000
  • One of the few existing golden visa program that still allows real estate investment
  • 10 year permanent residency with no stay requirement, can be renewed indefinitely as long as the investment if maintained
  • Minor can be the main applicant to avoid kids being aged out as being the dependent of the main applicant

Drawbacks:

  • 7-year path to citizenship (requiring approximately 6 years and 2 months of actual residence) has notably diminished the program’s allure for many global investors.
  • Investor must maintain the investment in order to renew the residency
  • Minor over 21 years old can no longer renew the residency as a dependent of the main applicant.
  • Permanent residency does NOT allow holders to work in Greece

Who might consider the Greece Golden Visa?

Primarily, individuals seeking EU Permanent Residency for Schengen travel, without a strong emphasis on acquiring citizenship.

4. Hungary: Emerging Option with Policy Instability

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The Hungarian “Guest Investor” program, launched July 1, 2024, offers an initial 10-year residence permit, renewable once, and a flexible no-minimum-stay requirement. It supports family reunification for spouses, minor children, and dependent parents.

Initially, three investment pathways were announced. However, on December 20, 2024, just 10 days before its planned implementation, the Hungarian government cancelled the real estate purchase option via its official gazette, Magyar Közlöny. This abrupt change underscores potential policy instability, likely aimed at preventing real estate market overheating. Currently, the Hungary Golden Visa program offers two investment options: 

  • Real Estate Fund Investment: 
    • Minimum €250,000, 40% of the funds must be invested in Hungarian residential real estate.
    • Holding period 5 years, approval time about 4 to 6 months.
  • Higher Education Donation:
    • Minimum €1,000,000, with accelerated approval process.

Apart from the program’s frequent policy changes, existing Hungarian citizenship is extended to require 8 years of continuous residence and passing a language test, making it one of the longest pathways in Europe. 

Benefits

  • Low investment threshold
  • Clear path, get pre-approval before investment

Drawbacks:

  • Only renewal for once (thus a maximum of 20 years of permanent residency
  • Investment must be maintained for the renewal (at year 10)
  • Very limited fund choices, only two eligible funds at the moment
  • High service/ set up fees from the fund (€20,000+)

Who Should Consider the Hungary Golden Visa Program?

Applicants prioritizing rapid Permanent Residency status for Schengen access who are not focused on citizenship, and are comfortable with a maximum 20-year residency validity.

5. Turkey: Fast Citizenship Outside the EU

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Since its launch in 2017, Turkey’s Citizenship by Investment Program has attracted significant foreign direct investment due to its relatively fast naturalization process. However, it is important to note that Turkey is not a member of the European Union and does not grant EU residency after naturalization.

  • Real Estate Investment: Minimum $400,000 USD in one or more properties, held for at least three years.
  • Other Investments (Bank deposits, government bonds, fixed capital, or investments in real estate/venture capital funds): Minimum $500,000 USD, typically with a three-year holding period.

Key Updates for 2025: 

  • Fast Approval: Naturalization applications can be processed and completed within 3 to 6 months.
  • No Residency Requirements: Applicants are not required to reside in Turkey either before or after the application process.
  • Stricter Due Diligence: 
    • Applicants and their spouses must personally attend appointments for biometric data collection.
    • Spouses are required to hold a residence permit during the application process.
  • Cancellation of YUVAM Program: While this program is no longer available, the $500,000 bank deposit option remains valid.

Benefits:

  • Quick to obtianed a citizneship (3 years) vs. all other EU program (shortest 5 years)

Drawbacks:

  • The citizenship does not grant the possibility to live in any of the EU countries as Turkey is NOT an EU member

Who Should Consider This Program?

This program is well-suited for investors who wish to obtain a second citizenship quickly and efficiently. It is particularly appealing to those who do not have specific requirements for European Union membership or residency and value the freedom of global travel without the need to maintain residency obligations.

It can be used as an interim solution for a second passport, while also applying for the Portugal Golden Visa.

Comparing Europe’s Golden Visa Programs

While Portugal leads the pack, other Golden Visa countries in Europe, such as Greece, Italy, Hungary, and Turkey offer unique advantages. Here’s a comparison to help you decide:

CountryMinimum InvestmentResidency RequirementCitizenship TimelineNumber of residence permit renewalsWork in the CountryExit of InvestmentLanguage Requirement (Citizenship)
Portugal€20250K–€500K7 days/year5 yearsIndefiniteAllowedMinimum  5 yearsA2 or language course
Greece€250K–€800KNone7 yearsIndefiniteNot AllowedMust maintain for PR renewalB2
Italy€250KNone10 yearsRenewals can continue as long as the investment remains active.AllowedMust maintain for PR renewalB1
Hungary€250K (real estate fund) €1M (education donation)
None8 yearsOnceAllowedMust maintain for PR renewalB2
Turkey~€368KNone3–6 monthsCitizenship grantedAllowedMinimum 3 yearsNone

Why Portugal’s Golden Visa Stands Out?

  • EU Residency and Citizenship: Gain an EU passport in just 5 years, with full Schengen access.
  • Tax Optimization: The NHR program offers tax exemptions for up to 10 years.
  • Short Investment Period: investor can apply for Permanent Resident after 5 years and exit from their investment without affecting their PR status.. 
  • Family with kids: Portugal Golden Visa is best for families with kids
  • Cultural Integration: A welcoming society with established expat communities and multilingual support ensures a smooth transition.
  • Secure Investments: Portuguese funds are tightly regulated, ensuring compliance and safety.

Why Work with The Golden Portugal for Your Golden Visa?

Navigating the journey to European residency and citizenship demands expert guidance. At The Golden Portugal, recently recognized with the prestigious “Best European Investment Immigration Consulting Solutions of the Year” award, we are committed to ensuring a seamless and successful experience. Since specializing in fund investments in 2020, we have proudly assisted over 500 families in obtaining their Portuguese Golden Visas, solidifying our reputation as industry pioneers.

Here’s why clients choose us:

  • Award-Winning Local Expertise: Based in Portugal, our team provides unmatched, on-the-ground insights into local policies, investment opportunities, and cultural nuances.
  • Specialization in Fund Investments: As acknowledged leaders in fund investment for the Golden Visa, we bring extensive expertise to help you identify secure, well-regulated funds. We also arrange introductions and meetings with reputable fund managers to simplify your decision-making process.
  • Comprehensive, End-to-End Support: From your initial consultation to securing your Golden Visa and eventual citizenship, we handle every step. This includes managing tax ID (NIF) applications, opening bank accounts, compiling and legalizing documents, and coordinating with all relevant parties.
  • Transparent and Efficient Process: We prioritize clarity and efficiency, offering clear timelines, transparent fee structures, and realistic expectations, with no hidden costs.
  • Multilingual Professional Services: Our diverse team communicates fluently in multiple languages, providing clear guidance and empowering you to confidently make informed decisions at every stage.

At The Golden Portugal, we are dedicated to turning your vision of European residency and citizenship into reality.

Conclusion: Invest in the Best Golden Visa Program

Talk to us to decide which is the most suitable Golden Visa program for you and your family.  We offer a 45 minutes free consulation to discuss the program details, your own situations and fund selections that are most suitable to your risk profile and end objectives.

Start Your Journey Today and discover how The Golden Portugal can help you achieve your goals!

Book Consultation With Visa Specialists

We have helped more than 500 families on their Portugal Golden Visa journey. 

We are also the pioneer firm to help clients to invest through funds back from 2020 until now. Come talk with us.

Book Your Free Consultation Today

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