Europe's golden visa landscape has changed more in the last three years than in the decade before it. Spain closed its programme outright, Portugal removed real estate and then lengthened its citizenship timeline, Greece raised its thresholds, and Bulgaria's passport route was terminated under pressure from the European Union.
This guide covers the programmes that are actually open in 2026, what each one costs today, and how long each really takes to reach citizenship. Every threshold below has moved at least once since 2023.
Which European golden visas are still open in 2026?
The short answer first, because several widely promoted programmes no longer accept applications.
| Country | Status in 2026 | Entry investment |
|---|---|---|
| Portugal | Open | EUR 250,000 cultural heritage, or EUR 500,000 funds |
| Greece | Open | EUR 250,000 restricted, EUR 400,000 or EUR 800,000 by location |
| Malta | Open, residence only | EUR 375,000 property or EUR 14,000 a year lease, plus EUR 99,000 in fees |
| Italy | Open | EUR 250,000 innovative startup |
| Bulgaria | Open, residence only | About EUR 512,000 into approved funds |
| Spain | Closed 3 April 2025 | Not available |
| Ireland | Closed 2023 | Not available |
| Cyprus | Closed 2020 | Not available |
Portugal Golden Visa
Portugal's programme is still open and still the most flexible on this list, but two things changed that anyone comparing on older information will get wrong. Real estate has not been an eligible route since October 2023, and citizenship now takes ten years rather than five.
Investment options in 2026
- Investment funds: €500,000 into a CMVM-regulated fund. Funds with exposure to Portuguese real estate are not eligible.
- Cultural heritage: a contribution of €250,000, reduced to €200,000 in low-density territories. This is the lowest entry point into the programme.
- Scientific research: €500,000 into research carried out by accredited public or private institutions.
- Job creation: creating at least 10 full-time jobs, with reductions available in low-density areas.
Two routes people still ask about are gone. Real estate purchase was removed in October 2023, and the capital transfer option is no longer legally valid.
Stay requirement and the path to citizenship
The stay requirement remains the programme's biggest draw: seven days in the first year, then fourteen days across each subsequent two-year renewal period. You can hold it without relocating.
Permanent residency is available after five years. Citizenship is the part that changed. Under Organic Law 1/2026, in force since 19 May 2026, Portuguese nationality requires ten years of legal residence, or seven years for citizens of Portuguese-speaking CPLP countries. Any guide still promising a Portuguese passport in five years is describing rules that no longer apply.
Greece Golden Visa
Greece is now the most location-sensitive programme in Europe. What you pay depends almost entirely on where you buy.
Investment thresholds
- €800,000 in Attica including Athens, plus Thessaloniki, Mykonos, Santorini and islands with more than 3,100 residents.
- €400,000 everywhere else in Greece.
- €250,000, but only for converting a commercial property to residential use, or restoring a listed building. Each property can be used at this rate once.
The €400,000 and €800,000 tiers require a single property of at least 120 square metres of usable interior space. Balconies, parking and separately registered storage do not count toward that minimum.
Benefits and path to citizenship
Residency is renewable every five years, covers your family, and carries Schengen travel rights. Citizenship becomes possible after seven years, and unlike Portugal it comes with a real physical residence expectation.
Malta Permanent Residence Programme
Malta's residence programme is routinely confused with its citizenship route. They are different things at very different prices. The figures below are the residence programme, which is what most people mean by a Maltese golden visa, and it was restructured by Legal Notice 146 of 2025.
What it costs in 2026
- €60,000 administrative fee
- €37,000 government contribution
- €2,000 philanthropic donation
- Property: purchase from €375,000, or a five-year lease of at least €14,000 a year
Mandatory government payments come to €99,000 on top of the property. You must also show assets of at least €500,000, of which €150,000 is liquid, or €650,000 including €75,000 liquid.
This grants permanent residence, not a passport. Malta's citizenship for exceptional services by direct investment is a separate programme, considerably more expensive, and subject to its own approval process.
Italy Investor Visa
Italy's investor visa has no real estate route and never had one. It is a straightforward menu of financial commitments.
Investment options
- €250,000 in an innovative Italian startup
- €500,000 in shares of an established Italian company
- €2,000,000 in Italian government bonds
- €1,000,000 as a philanthropic donation to a public-interest project in culture, education, immigration management, research or heritage preservation
Benefits and path to citizenship
The visa covers a spouse and dependent children and allows Schengen travel with no obligation to live in Italy. Citizenship requires ten years of legal residence, which in practice means actually residing there.
Bulgaria residency by investment
Bulgaria is the programme most often described incorrectly. The citizenship-by-investment route, which allowed people to obtain a passport through government bonds, was terminated on 5 April 2022 under pressure from the European Union. It has not returned.
What exists now is a residency-by-investment route introduced in late 2023. It requires roughly €512,000 into approved alternative investment funds or exchange-traded funds, and it leads to permanent residence rather than directly to a passport. Citizenship, if you want it, follows the ordinary naturalisation rules.
How the open programmes compare
Entry price is the number everyone compares, and it is the least useful one. What matters is what the programme actually grants you and how long you have to hold it before that turns into a passport.
| Programme | What it grants | Citizenship timeline |
|---|---|---|
| Portugal | Renewable residence, minimal stay | 10 years, or 7 for CPLP nationals |
| Greece | Residence, renewed every 5 years | 7 years, with real residence expected |
| Malta | Permanent residence | Separate and far more expensive programme |
| Italy | Residence, no obligation to live there | 10 years of actual residence |
| Bulgaria | Permanent residence | Ordinary naturalisation rules |
Portugal is the only one on this list that combines a genuine minimal-stay rule with a defined citizenship route, which is why it still dominates the category even after the 2026 reform doubled its timeline.
Programmes that have closed
Several programmes still promoted online no longer accept applications.
- Spain closed its golden visa on 3 April 2025. The real estate, business and government bond routes all ended. Existing holders keep their permits, but no new applications are accepted.
- Portugal removed the real estate route in October 2023, and the capital transfer route is no longer legally valid.
- Bulgaria terminated citizenship by investment on 5 April 2022.
- Ireland closed its Immigrant Investor Programme in February 2023.
- Cyprus discontinued its citizenship scheme in 2020, following concerns about oversight and money laundering.
If you are reading a comparison that still lists Spain among the available options, it predates April 2025.
Do You Need Help Getting A European Golden Visa?
It’s okay to not know where to start from! We get many clients who don’t know their way through documentation and investments. That’s why Viv Europe is here to guide you every step of the way.
Book a consultation with our team and we will tell you which programmes you actually qualify for, and which are worth the money once the timelines are taken into account. Viv Europe handles the Portugal Golden Visa end to end.
If you’re interested in learning more about Portugal, join our Facebook Group, All About Portugal For Expats. Ask questions and read stories about why people moved!
