The Most Affordable Golden Visas in Europe You Can Get Now
Golden Visas have become a popular pathway for individuals seeking to establish residency in Europe. Contrary to popular belief, these visas are not exclusive to the ultra-rich. Several European countries offer affordable investor residency schemes, making it possible for individuals with modest means to gain residency. This article explores the seven most affordable Golden Visas in Europe, providing insights into their benefits, drawbacks, and how they can be leveraged to obtain dual citizenship.
Understanding Golden Visas
Golden Visas are residency-by-investment programs that grant residency rights in exchange for significant investment in the host country. These investments can take various forms, including real estate purchases, private equity or venture capital funds, government bonds, or contributions to art or scientific research. After a specified period, Golden Visa holders can apply for citizenship, which comes with an EU passport and all its associated benefits. However, not all Golden Visas are the same, and it's essential to understand the specifics of each program.
The Seven Most Affordable Golden Visas in Europe
Here's a rundown of the seven most affordable Golden Visas in Europe:
- Malta Permanent Residency Program (MPRP): €100,000
- Greece Golden Visa real estate route: €250,000
- Portugal Highly Qualified Activity (HQA) Visa: €175,000
- Portugal Cultural Production Golden Visa: €250,000
- Portugal Golden Visa (rehabilitation in low-density zone): €280,000
- Portugal Golden Visa (standard rehabilitation): €350,000
- Latvia Investor Visa: €250,000
Malta Permanent Residency Program (MPRP)
Launched in 2021, the MPRP is Malta's latest addition to the Golden Visa programs. For a basic cost of €100,000, successful applicants and their families can obtain permanent residency in the Schengen area without any physical stay requirements in Malta. After five years of residency, you can apply for Maltese citizenship. However, the €100,000 is a non-refundable donation to the Maltese government, and applicants must demonstrate €500,000 worth of total assets.
Greece Golden Visa: Real Estate Route
Greece's Golden Visa is one of the most affordable in Europe, with the lowest cost option being the purchase of residential property worth at least €250,000. Golden Visa holders are not required to live in Greece to maintain their residency status. However, to apply for Greek citizenship, you must spend at least 183 days per year in Greece.
Portugal Highly Qualified Activity (HQA) Visa
Portugal's HQA Visa is designed for entrepreneurial investors who wish to launch a research-driven startup via a Portuguese university. For an investment of €175,000, investors get the same low physical stay requirements as a Golden Visa holder and the same timeline to Portuguese citizenship. However, the success of the startup and the returns on the investment are not guaranteed.
Portugal Cultural Production Golden Visa
Portugal's cultural production Golden Visa is part of the arts and heritage investment route. This route involves investing in Portuguese feature film production, offering a guaranteed annual return of 4%. The investment also offers tax-exempt status, priority processing, and an option to invest for just €200,000 for films set in low-density areas of the country.
Portugal Golden Visa: Real Estate Options
Portugal offers two affordable Golden Visa routes based on real estate investment. The first requires a minimum investment of €280,000 in residential real estate suitable for rehabilitation in one of Portugal's low-density areas. The second option requires a minimum investment of €350,000 in real estate for rehabilitation, not confined to low-density areas.
Latvia Investor Visa
The Latvia Investor Visa allows successful applicants to secure residency in Latvia for a minimum of €250,000, invested in real estate or government bonds. Latvia Investor Visa holders only need to visit the country once a year to maintain their residency status. However, the timeline to Latvian citizenship is at least 10 years, which is longer than most other Golden Visa programs.
Making the Right Choice
As you can see, each Golden Visa program has its unique advantages and disadvantages. Therefore, it's important to carefully consider your long-term objectives before choosing a program to invest in. Portugal offers the most flexible pathway to citizenship, with three of Europe's most affordable and flexible Golden Visa routes. However, if you have an entrepreneurial, technical, or managerial background and €175,000 to invest, the Portugal HQA Visa could be worth considering.
Frequently Asked Questions
What is the cheapest EU Golden Visa?
Malta's new Permanent Residency Program (MPRP) could be Europe's cheapest Golden Visa program. The basic cost is just €100,000. However, this is a non-refundable donation to the government.
What is the Malta Golden Visa?
Malta's Golden Visa is Europe's only remaining citizenship by investment program. It allows you to obtain a Maltese EU passport in a timeline of 1-3 years, by investing at least €600,000 in Malta.
Can you buy citizenship in Malta?
The shortest timeline to Maltese citizenship is one year, available for a minimum investment of €750,000.
What is the easiest country in the EU to get citizenship?
Malta is the easiest country in the EU to get citizenship, if you're willing to pay a high fee (€750,000). Otherwise, Portugal is the most affordable and fastest route to EU citizenship, with a range of flexible residency options.
What is the Greece Golden Visa?
The Greece Golden Visa Program is a route for foreigners from outside the EU to acquire residency in Greece, in return for an investment of €250,000 in Greek real estate.
Which country is best for the Golden Visa?
Portugal is Europe's best country for the Golden Visa, offering a wide range of different types of investment, different investment thresholds, and low physical stay requirements.
Does Austria offer a Golden Visa?
Yes, Austria does offer a Golden Visa program, but the requirements are very different from others. To get the Australian residency by investment, you have to invest in either an Austrian business (€10 million) or the government development fund (€3 million).
Final Thoughts
Golden Visas offer a viable pathway to European residency and citizenship. While each program has its unique features, benefits, and drawbacks, they all provide a golden opportunity for investors to establish a new life in Europe. The key is to carefully consider your personal circumstances, financial capacity, and long-term goals before making a decision.