Finding the Cheapest Golden Visa in Europe

Foreign nationals who want to know what is the cheapest golden Visa in Europe are often interested in the lowest possible investment. A Golden Visa is a residency/citizenship offered by some countries to attract foreign investment. In exchange for a financial contribution, such as purchasing real estate, investing in businesses, or buying government bonds, individuals and their families can obtain the right to live, work, and study in that country. Some programs can eventually lead to permanent citizenship. 

European golden visas for global investors end up having access to the Schengen area, a potential path to citizenship, and a better quality of life. This blog post will identify the most affordable golden Visa options in Europe. The cheapest can be defined in various ways. This post will primarily focus on the lowest minimum investment thresholds.

Latvia Golden Visa

 The Latvia Golden Visa, also known as the residency by investment program allows foreign travellers to obtain a residence permit. After a loyal 10 years of residency, it then leads to permit citizenship. Investors can invest in real estate (minimum €250,000), a five-year bank deposit (€280,000), government bonds (€250,000), or a business investment in the equity capital of a Latvian company of (€50,000. This amount is considered a very low investment compared to other golden visa programs in other countries. Eligibility criteria for the Latvian Golden Visa include:

•  Minimum age of 18.
•  Citizenship outside the European Union, European Economic Area, and Switzerland.
•  A clean criminal history.
•  Good health.
•  No unpaid taxes globally.
•  Demonstrated financial self-sufficiency for yourself and any dependents.
•  Comprehensive health insurance coverage.

Malta

The Malta Permanent Residence Programme (MPRP) offers a structured pathway for non-EU nationals to obtain the right to reside permanently in Malta. This is achieved through a qualifying investment, typically involving the purchase or lease of property in Malta, alongside a non-refundable government contribution and a philanthropic donation. To qualify, investors need to either buy a residential property and keep it for five years (minimum €375,000, or €300,000 in the South/Gozo) or rent a residential property for five years at a minimum annual rent of €12,000 (€10,000 in the South/Gozo). Here are the key requirements for the Malta Permanent Residence Programme:

•  You must purchase a residential property for at least €375,000 (or €300,000 in the South/Gozo) and retain ownership for five years, or rent a property for a minimum of €12,000 annually (€10,000 in the South/Gozo) for five years.

•   A non-refundable government contribution is required, typically €30,000 for property purchase and €60,000 for rental, plus a €10,000 administrative fee.

•  A donation of €2,000 must be made to an approved philanthropic organization.

•   You need to possess capital assets of at least €500,000 (with €150,000 in financial assets) or €650,000 (with €75,000 in financial assets), maintained for five years.

•   A clean criminal record from your country of origin and significant past residences is mandatory.

•   You must hold a valid health insurance policy covering you and your dependents in Malta and the EU.

•  Successful completion of a thorough due diligence process by the Residency Malta Agency is essential.

•  The main applicant must be at least 18 years old.

•  Demonstrate stable and sufficient financial resources to support yourself and your dependents without relying on Maltese social assistance.

•   Eligible dependents, such as spouses, children, and dependent parents/grandparents, can be included in the application.

Greece

The real estate way is historically the cheapest route for golden visas in Greece. Beyond real estate, which starts at €250,000 (and €800,000 in popular areas), Greece offers Golden Visa options like investing at least €350,000 in Greek funds or €500,000 in Greek companies, government bonds, or bank deposits. Investing €800,000 in listed Greek company shares or bonds is another route, as is a €250,000 investment in eligible Greek startups. These diverse options provide various pathways to Greek residency beyond the property. Here are some of the key requirements for the Greece Golden Visa:

•  You must be a non-EU citizen over 18 years of age with a clean criminal record.
•  You need to make a qualifying investment in Greece, such as real estate, Greek companies, or government bonds, meeting the minimum threshold for your chosen option.
•  You are required to have a valid health insurance policy in Greece.
•  You must demonstrate that the funds used for the investment have a legal source.
•   You will need to provide a valid passport and other supporting documents as part of the application.

Hungary

The cheapest option under the newly reintroduced Hungary Golden Visa program is an investment of €250,000 into a qualified Hungarian real estate fund. This fund must have at least 40% of its net asset value invested in residential properties within Hungary and you need to maintain this investment for at least five years. This is currently the lowest financial threshold to obtain residency through investment in Hungary, offering a pathway to a 10-year renewable residence permit and visa-free travel within the Schengen Area. Here are some of the main requirements for the Hungary Guest Investor Program:

•  The applicant must be a non-EU/EEA/Swiss citizen and be at least 18 years of age.
•  The applicant is required to make a qualifying investment, such as €250,000 into an approved Hungarian real estate fund.
•  The applicant must demonstrate a clean criminal record.

•   The applicant needs to show sufficient financial resources to support themselves and their family within Hungary.
•  The applicant is required to possess valid health insurance that covers their stay in Hungary.
•  The applicant will need to provide a valid passport.
•  The applicant must provide proof of the legal origin of their investment funds.

Portugal

The most affordable route to Portugal’s Golden Visa currently involves a €250,000 investment in either artistic output or the renovation/maintenance of national cultural heritage. This option presents the lowest financial threshold for the program. It’s worth noting that investing in cultural heritage in designated “low-density” areas can further reduce this minimum to €200,000. While real estate was previously a popular entry point, it is no longer a qualifying investment as of late 2023. Here are some of the main requirements for the Portugal Golden Visa:

•   The applicant must be a non-EU/EEA/Swiss citizen.
•  A qualifying investment must be made in Portugal, meeting the minimum threshold for the chosen option (e.g., €250,000 for arts/heritage).
•  The applicant needs to demonstrate a clean criminal record.
•  Possession of valid health insurance in Portugal is required.
•   The applicant must show that the investment funds originate from a legal source.
•  A valid passport and other supporting documents will be necessary for the application.

In the process of getting a European Golden Visa, it becomes clear that various nations offer pathways for residency through investment, each with its own financial entry point. While the initial cost is a significant factor for many, it’s a good idea to look beyond just the price tag. Consider the long-term value, the specific investment requirements, and the overall benefits each program provides. Ultimately, the right choice will be the one that not only fits your budget but also aligns with your broader aspirations for European residency and all the opportunities it can unlock.