Golden visa Europe

Real estate: one EU route left in our reference

Greece is the only EU member in our reference where buying a home still qualifies. The floor is €400,000 outside the high-demand areas; Attica, the Municipality of Thessaloniki, Mykonos, Santorini and islands over 3,100 inhabitants require €800,000, and the property must be at least 120 sq m.

Portugal removed its property routes on 7 October 2023, Bulgaria no longer accepts direct real estate, and Latvia dropped its property ground on 15 September 2026. Outside the EU, Georgia grants a one-year permit for property above US$150,000, a threshold raised on 1 March 2026; it does not lead to permanent residence by itself.

The lowest thresholds, and what they buy

Three open programmes start at €250,000, each through a different asset. Hungary takes units of a real estate fund registered with the Magyar Nemzeti Bank, held for at least 5 years in a locked account. Italy takes the same amount in an innovative startup; Portugal takes it for artistic production or national cultural heritage.

Above that, France asks €300,000 in fixed assets that create or preserve jobs, and Estonia €1,000,000 of direct investment in an Estonian company or fund. Bulgaria lists €511,292, the euro equivalent of BGN 1,000,000 in a licensed alternative investment fund.

Why investor files are refused or revoked

Italy revokes its 2 years investor permit if the money is not invested within 3 months of entry or is withdrawn before 2 years. The amount alone does not keep the permit.

A Portuguese file still built on a property purchase is outside the law since 7 October 2023. Portugal also expects at least 7 days of stay in the first year and 14 days in each following year, and a declared holding period of 5 years.

In Greece, a qualifying property may not be let short-term or sub-let; long-term letting is allowed. On the residential route, a property under 120 sq m, or a price below the threshold of its area, does not qualify. In Bulgaria, government bonds and direct real estate no longer count, and the investment must be held for 5 years.

Processing time depends on the authority, not the file

Hungary publishes 21 days, not counting the wait for proof of the investment. Estonia lists about 120 days: roughly 90 days for the decision and 30 for the card.

Greece sets no statutory deadline for investor files; the filing certificate gives lawful stay while the file is pending. Italy, France and Portugal publish no processing time in our reference.

Golden visa and citizenship: the long part

Portugal now requires 10 years of legal residence before naturalisation (7 for CPLP and EU nationals) under Lei Orgânica 1/2026, in force since 19 May 2026. Italy also counts 10 years.

A Greek investor permit gives no direct route: general naturalisation applies after 7 years of actual residence and an exam. France lists 5 years. Hungary’s immigration office does not say that the guest investor permit leads to permanent status.

Programmes that closed, and what happens to holders

Latvia closed its property, bank-liability and state-securities grounds on 15 September 2026; files lodged earlier are decided under the old law, and a new €150,000 state alternative investment fund route gives a permit of up to 5 years.

Spain abolished its golden visa on 3 April 2025. Applications filed before that date are decided under the old rules, and permits already issued keep their term and can be renewed. Ireland closed its Immigrant Investor Programme on 15 February 2023, and the United Kingdom Tier 1 (Investor) visa closed on 17 February 2022.