15 Best Golden Visa Programs Worldwide

Golden visas—residence rights in exchange for investment—have become practical tools for mobility, lifestyle flexibility, and long-term planning. They’re not just for billionaires or perpetual travelers. I’ve seen families use them to secure future education options, entrepreneurs to hedge geopolitical risk, and retirees to simplify tax and healthcare decisions. The best program for you depends on where you want to spend time, how much capital you’re comfortable tying up, and whether a passport is ultimately part of your plan. Below is a clear, no-nonsense guide to the 15 standout programs, with real thresholds, timelines, and the watch-outs that trip applicants up.

How to Choose a Golden Visa Program

Before the country list, filter your options with a few practical questions:

• How much hands-on time do you want to spend? Some permits are “set-and-forget” with minimal physical presence; others expect real residence if you want permanent status or citizenship.

• Are you aiming for EU mobility or global access? EU residence means Schengen travel and an EU base; the U.S. EB-5 is about a green card; Asian programs tend to focus on regional lifestyle and tax.

• What’s your risk tolerance? Anyone promising “guaranteed approval” or “risk-free returns” should be treated with maximum caution. Stick to regulated funds, government bonds, or property with verifiable title.

• Do you care about citizenship later? Many investor residencies allow citizenship, but only with real residence, language tests, and timelines. Others are deliberately non-immigrant and never lead to a passport.

• How sensitive are you to tax changes? Residence can change your tax position; consult a tax adviser before you apply, not after.

1) Portugal: Flexible EU Residency Without Full-Time Stay

Portugal’s program remains one of the most livable options after the 2023 reforms removed real estate and pure capital transfers. The prime routes now are productive investments.

• Minimums and routes:

• €500,000 in qualifying venture capital/private equity funds with a Portuguese focus.

• €500,000 into R&D or tech/innovation projects.

• €500,000 into a Portuguese company with job creation (typically five new roles) or maintain ten jobs via a capital increase.

• €250,000 donation to the arts/cultural heritage (reduced 20% in low-density areas).

• Job creation route: create and maintain at least ten jobs (no minimum capital).

• Time and stay: Expect 9–18 months to first residence card, depending on the new AIMA backlog. Minimal presence: roughly seven days per year on average (14 days each two-year period).

• Family: Spouse/partner, dependent children, and dependent parents can join.

• Citizenship: Eligible after five years of residency, with an A2 Portuguese language exam and clean record. You don’t need to live full-time, but genuine ties help.

• Taxes: Non-habitual resident (NHR) regime changed in 2024; limited transitional benefits remain. You’re not taxed as a resident unless you actually become tax resident (usually 183+ days).

• My take: For those wanting a light-touch EU base with a credible citizenship path, the fund and R&D routes are compelling. Use regulated funds with clear audit trails; I review the fee stack and deployment policy line-by-line with clients.

Common mistakes to avoid:

• Chasing real estate workarounds not compliant with the 2023 law.

• Choosing funds that don’t meet the legal definition for the program.

• Ignoring the language requirement early; start studying right away.

2) Greece: Property-Led EU Residency (With New Price Bands)

Greece’s golden visa remains popular, though 2024 reforms raised thresholds in high-demand zones.

• Minimums:

• €800,000 in prime areas (e.g., central Athens zones, Thessaloniki core, Santorini, Mykonos).

• €400,000 in most other municipalities.

• Special €250,000 options exist for specific scenarios (e.g., restoring protected/ listed buildings or converting certain commercial properties), but they’re narrowly defined and approval-heavy.

• Stay and timeline: No minimum stay to maintain residency. Processing is typically 2–6 months after a purchase, but zoning verification adds time.

• Family: Spouse/partner, children up to 21 (often extendable to 24 if dependent), and parents of both spouses.

• Citizenship: Possible after seven years of actual residence with integration exam and Greek language—owning a property is not sufficient.

• Taxes: Non-residents are taxed on Greek-sourced income only; special regimes can apply to new tax residents.

• My take: Ideal if you want a lifestyle property and Schengen mobility. The new tiers require precise due diligence on location. I always verify the exact cadastral designation and the municipal zone before a client signs.

Watch-outs:

• Buying in the wrong postal code and missing the intended threshold.

• Title issues and unauthorized works; hire an independent surveyor and lawyer.

• Assuming citizenship is automatic—without real residence, it isn’t.

3) Spain: Investor Visa Without Real Estate

Spain removed the €500k real estate route in 2024, but kept robust financial and business pathways under Law 14/2013.

• Minimums and routes:

• €2,000,000 in Spanish public debt.

• €1,000,000 in shares of Spanish companies or bank deposits in Spanish institutions.

• €1,000,000 in Spanish investment funds, closed-end funds, or venture capital funds.

• Business project of general interest (no fixed amount), judged on jobs, innovation, and socioeconomic impact.

• Stay and timeline: The investor visa is typically granted quickly via consulates; residence permits can be issued for three years, then five-year renewals. No minimum stay to renew, but you must visit and keep the investment.

• Family: Spouse/partner, dependent children, and dependent ascendants.

• Citizenship: Standard route is ten years of residence (two for many Latin American nationals, Andorra, Portugal, Philippines, Equatorial Guinea, and Sephardic origin). You need actual residence for citizenship.

• Taxes: Spain taxes residents on worldwide income; non-residents on Spain-sourced income. The Beckham Regime can apply for qualifying workers, not investors by default.

• My take: Great if you’re comfortable with financial assets or have a credible business plan. The business-project route is underrated—viable for founders building a real presence.

Pitfalls:

• Confusing “no minimum stay to renew” with “no stay needed for citizenship.” Separate concepts.

• Buying property expecting a golden visa; that door is closed.

4) Malta: Permanent Residence by Investment (MPRP)

Malta’s MPRP provides permanent residence from day one rather than a temporary permit.

• Core costs:

• Contribution to the government: €68,000 (if purchasing property) or €98,000 (if renting).

• Property: Purchase at least €350,000 (or €300,000 in South Malta/Gozo) or rent at €12,000/year (€10,000 in South/Gozo).

• Philanthropic donation: €2,000.

• Agency/admin fees: typically around €40,000 plus due diligence and legal fees.

• Stay and timeline: No minimum stay; typical processing 6–12 months with strong due diligence.

• Family: Spouse/partner, dependent children (including adult dependents), and dependent parents/grandparents.

• Citizenship: Separate and far more stringent (the citizenship-by-exception route is costly and selective); MPRP alone doesn’t lead to a passport.

• Taxes: Malta taxes residents on a remittance basis if not domiciled; careful planning needed.

• My take: One of the cleanest EU permanent residency products. Budget for total costs realistically; I model a 5-year cost-of-hold, including rent or opportunity cost on a purchase.

Mistakes:

• Treating it like a cheap backdoor to citizenship—it isn’t.

• Underestimating due diligence; source-of-funds documentation must be pristine.

5) Cyprus: Fast Permanent Residency via Property or Business

Cyprus offers permanent residency (Category 6.2) with a moderate investment and income requirement.

• Minimums:

• €300,000 (plus VAT) in new residential property from a developer; or

• €300,000 into commercial property, shares in a Cypriot company with local staff, or units of a local investment fund.

• Extra requirements: Demonstrate secure annual income (commonly €50,000 for main applicant, plus increments for spouse and dependents), clean record, and medical coverage.

• Stay and timeline: PR typically within 3–6 months. Visit Cyprus at least once every two years to maintain PR.

• Family: Spouse, minor children, and, with conditions, adult dependent children.

• Citizenship: Possible after seven years of residence (five in some cases), with Greek language requirements and physical presence. PR alone doesn’t count as residence time unless you’re actually living there.

• Taxes: Attractive for non-doms; no tax on foreign dividends and interest for non-domiciled residents; 60-day tax residency option under conditions.

• My take: Efficient if you want a quick EU base in the Eastern Med. Pay attention to VAT on property (usually 19% standard, reduced to 5% under strict conditions for first residence).

6) Italy: Investor Visa with Attractive Tax Options

Italy’s Investor Visa lets you invest in the real economy with a credible path to long-term EU residence.

• Minimums:

• €2,000,000 in Italian government bonds; or

• €500,000 in an Italian company (listed or unlisted); or

• €250,000 in an innovative startup; or

• €1,000,000 philanthropic donation in culture, education, or public interest projects.

• Stay and timeline: Two-year visa, extendable for three years if the investment is maintained. For the EU long-term residence permit, plan on five years of continuous residence.

• Family: Spouse/partner and children can be included.

• Taxes: New residents can elect a flat €100,000 yearly tax on foreign income (the “res non-dom” regime) for up to 15 years; add family at €25,000 each.

• My take: A strong fit for entrepreneurs who actually want to spend time in Italy. The €250,000 startup route is capital-light, but pick companies with real substance and independent governance.

Pitfalls:

• Confusing visa validity with meeting residence conditions for permanent status.

• Not planning for health insurance and municipal registration (residenza) logistics.

7) Hungary: Guest Investor Residence (Rebooted Program)

Hungary’s new Guest Investor Visa reopens the country to long-term investor residency.

• Minimums (as legislated):

• €250,000 in units of a qualifying, Hungarian-regulated real estate fund; or

• €500,000 purchase of residential real estate in Hungary; or

• €1,000,000 donation to a designated public trust for educational/cultural aims.

• Tenor: Residence up to ten years, renewable. Family is typically included.

• Stay and timeline: Light presence required; exact procedural timelines have been rolling out with implementing regulations.

• Schengen: Hungary is in Schengen, enabling regional mobility.

• My take: One of the lowest-cost EU entries post-Portugal real estate. Focus on fund governance (custodian bank, auditor, and regulator filings) and verify property title through independent counsel.

Watch-outs:

• Buying off-plan without escrow safeguards or bank-backed completion guarantees.

• Funds marketed aggressively without clear asset allocation or redemption policies.

8) United Arab Emirates (UAE): 10-Year Golden Visa

The UAE Golden Visa offers a sponsor-free, long-term residence with strong lifestyle and tax advantages.

• Minimums and routes:

• Real estate: AED 2 million property value (off-plan allowed with approved developers under certain conditions).

• Investment fund: AED 2 million in an approved UAE investment fund.

• Entrepreneurs, exceptional talents, scientists, and other categories have bespoke criteria.

• Stay and timeline: Processing can be as fast as a few weeks once eligibility is clear. Golden Visa holders are exempt from the standard six-month rule on staying outside the UAE.

• Family and staff: Spouse, children (often up to age 25), and multiple domestic workers can be sponsored.

• Taxes: No personal income tax; 9% corporate tax applies to business profits above thresholds; 5% VAT on most goods/services.

• My take: Excellent for businesspeople needing frictionless travel and a modern base. Banking and tenancy setup is smoother with local guidance; pick the emirate (Dubai, Abu Dhabi, etc.) that matches your industry and schooling needs.

9) Singapore: Global Investor Programme (GIP)

Singapore’s GIP is premium, selective, and unmatched in stability.

• Investment routes (updated in 2023):

• Option A: Invest at least SGD 10 million in a new or existing Singapore business in approved sectors.

• Option B: Invest at least SGD 25 million in a GIP-approved fund.

• Option C (family office): Establish a Singapore-based single-family office meeting AUM and local investment requirements, with hiring and expenditure thresholds. The AUM bar is high—often around SGD 200 million—with a significant portion required to be deployed in Singapore (e.g., SGD 50 million). Exact figures evolve; verify current criteria with EDB.

• Outcome: Eligible for Singapore Permanent Residence (PR) for main applicant and immediate family, subject to performance milestones.

• Taxes: Competitive corporate regime, no capital gains tax, extensive treaty network. Personal taxation is progressive at relatively low rates by global standards.

• My take: Best-in-class if you plan real economic activity in Singapore. It’s not a passive capital parking exercise; the government expects execution and local impact.

Pitfalls:

• Treating GIP as passive. Underperformance on business plans or local hiring can jeopardize status.

• Underestimating compliance workload for family office governance.

10) Hong Kong: Capital Investment Entrant Scheme (CIES)

Hong Kong reintroduced CIES with a focus on financial assets rather than property.

• Minimum: HKD 30 million invested in permissible assets (e.g., equities, funds, bonds). Real estate is excluded for eligibility, though separate property purchases are allowed.

• Stay and timeline: Entry followed by residence as long as investment is maintained; standard path to Right of Abode requires seven years of ordinary residence.

• Taxes: Low, territorial tax system; no tax on foreign-sourced profits not remitted, no VAT or GST.

• My take: Suits investors who prefer liquid portfolios. Keep in mind that PR (Right of Abode) hinges on actual residence; simply holding assets without living in Hong Kong won’t get you there.

11) Thailand: Long-Term Resident (LTR) Visa for Investors

Thailand’s LTR visa provides a 10-year stay with investor and retiree tracks.

• Investor route highlights:

• Wealthy Global Citizen pathway: typically requires USD 1 million in assets, USD 80,000 annual income for recent years, and at least USD 500,000 investment in Thai government bonds, property, or FDI.

• Other LTR categories exist for retirees, remote professionals, and highly skilled talent with separate requirements and benefits (e.g., 17% flat tax for qualifying tech roles).

• Benefits: Multiple re-entries, work authorization for certain categories, and streamlined immigration.

• Taxes: Thailand taxes residents on Thai-sourced income and certain foreign income remitted in the same year it’s earned; rules evolve—coordinate with a tax adviser.

• My take: More structured than the old “Elite” membership. If you intend to spend significant time in Thailand with legitimate investment and income, LTR is the serious route.

12) Malaysia: MM2H (and Sarawak MM2H)

Malaysia My Second Home is a residence-by-deposit program, with federal and state variants.

• Federal MM2H (revamped):

• Tiered options with significant fixed deposits (commonly RM 500,000 to RM 5 million across Silver/Gold/Platinum tiers), plus minimum offshore income and stay requirements. Benefits and withdrawal allowances vary by tier.

• Regulations have shifted; always check the current tier structure and state-by-state implementation.

• Sarawak MM2H (S-MM2H):

• Typically lower fixed deposit requirements (e.g., RM 150,000 for singles, RM 300,000 for families) and more flexible rules. Processing is state-level.

• Family: Spouse and children can be included.

• Taxes: Territorial; foreign income is generally exempt unless remitted under specific conditions—Malaysia has adjusted remittance rules, so seek current advice.

• My take: Attractive cost of living, international schools, and English usage. Sarawak’s program is practical for many families; just confirm stay-day obligations and health insurance requirements.

13) Mauritius: Residence by Property Investment

Mauritius grants residency to non-citizens purchasing approved property.

• Minimum: USD 375,000 purchase in qualified schemes (PDS, IRS, RES, or Smart City). Ownership grants a residence permit as long as the property is held.

• Family: Spouse and dependent children included.

• Stay: No strict minimum presence to maintain the permit, but living there unlocks lifestyle and tax benefits.

• Taxes: Flat 15% personal income tax, no capital gains tax, no inheritance tax for direct descendants, and a wide treaty network.

• My take: Clean, straightforward pathway with strong lifestyle draw—safe, bilingual environment, and easy access to beaches and nature. Due diligence on developers is key; prioritize completed or escrowed projects.

14) Panama: Qualified Investor Permanent Residency

Panama’s Qualified Investor program gives permanent residence, fast.

• Minimums:

• USD 500,000 in real estate (post-2024 standard; earlier promotional thresholds expired).

• USD 750,000 in securities on the Panamanian exchange.

• USD 1,000,000 in a fixed-term bank deposit in Panama.

• Timeline: Often 30–90 days to a permanent card once investment is verified.

• Family: Spouse and children can be included.

• Citizenship: Eligible after five years of permanent residence, but expect rigorous ties and Spanish proficiency. Naturalization is not automatic.

• Taxes: Territorial; foreign-sourced income is generally not taxed.

• My take: One of the most efficient PRs in the Americas. I like it for investors who want a dollarized, stable base with minimal presence requirements.

15) United States: EB-5 Immigrant Investor Program

EB-5 is a direct path to a U.S. green card through investment and job creation.

• Minimums:

• USD 800,000 in a Targeted Employment Area (TEA: rural or high-unemployment).

• USD 1,050,000 in non-TEA projects.

• Requirements: Create or preserve 10 full-time U.S. jobs within a specified sustainment period. You can invest directly or through USCIS-designated Regional Centers.

• Timeline: Highly variable. Reserved visa categories (rural, high-unemployment, infrastructure) offer priority processing and set-aside visa numbers. Expect 12–36 months for many cases; longer for retrogressed countries.

• Family: Spouse and unmarried children under 21 included.

• Taxes: U.S. tax residency applies with a green card; plan global tax carefully before landing.

• My take: For families set on the U.S., EB-5 is a straightforward route if you accept the capital-at-risk principle and long timelines. I only work with Regional Centers that provide transparent job-creation methodologies and escrow safeguards.

Pitfalls:

• Chasing above-market returns in EB-5 projects—risk and immigration priorities rarely align.

• Ignoring country-specific visa backlogs; check the Visa Bulletin and consider set-aside categories.

Quick Comparisons at a Glance

• Easiest EU footholds with low presence: Malta MPRP, Greece property routes, Hungary Guest Investor, Portugal (fund/R&D).

• Strong lifestyle with low/no income tax: UAE Golden Visa, Mauritius, Panama.

• Premium and selective: Singapore GIP, Hong Kong CIES.

• Clear U.S. path: EB-5.

• Cost-conscious property angle: Greece (outside prime zones), Hungary real estate fund, Mauritius (for residence, not EU mobility).

• Fastest approvals: UAE and Panama tend to be quick once documentation is tidy.

Step-by-Step: How an Investment Residency Application Actually Works

This is the practical sequence I run with clients to cut months off the process and avoid costly do-overs.

1) Strategy and tax alignment

• Map goals: mobility, schooling, eventual citizenship, or asset diversification.

• Pre-tax planning: Confirm whether becoming a resident has tax consequences; structure holdings ahead of time.

• Pick 2–3 programs that match your budget and tolerance for presence.

2) Investment due diligence

• Funds: Get the prospectus, regulator approvals, auditor, custodian details, key person risk, and exit policies in writing.

• Real estate: Independent title search, building permits, escrow arrangements, completion guarantees, and rental regulation checks.

• Business projects: Feasibility, permits, job-creation plan, runway, and proof of capital.

3) KYC and source-of-funds preparation

• Gather documents early: bank statements, tax returns, sale contracts, corporate records, and notarized translations if needed.

• Sanctions screening and PEP checks: Clear any red flags before submitting.

4) Pre-approval and account setup

• Many programs allow filing before final investment—get a conditional approval to reduce exposure.

• Open local bank/brokerage accounts where required; expect enhanced due diligence for cross-border transfers.

5) Execute investment and file

• Fund subscriptions and property completions often require precise payment trails. Keep SWIFT receipts and share purchase records.

• Submit immigration forms, biometrics, and pay fees.

6) Card issuance and compliance

• Track renewals and maintain the investment for the required period.

• Calendar travel and stay-day obligations if you want PR or citizenship down the line.

• Annual confirmations: Some programs require portfolio statements or property tax receipts.

7) Exit planning

• Know when you can divest without jeopardizing status.

• Model scenarios: property sale timelines, fund redemption gates, and tax on exit.

Costs Beyond the Headline Investment

Budget realistically. Typical extras (ranges reflect genuine quotes I see):

• Legal and advisory fees: €8,000–€30,000 for EU programs; USD 15,000–$80,000 for EB-5 (including Regional Center admin).

• Government fees and biometrics: €1,000–€10,000 per family, depending on program.

• Taxes, VAT, and stamp duties on property: 4%–10%+ depending on country.

• Donations, application fees, and due diligence charges: especially in Malta and Cyprus.

• Health insurance: €500–€3,000 per person per year for Schengen-compliant policies.

• Translation and notarization: €1,000–€5,000 depending on complexity.

Common Mistakes (And How to Avoid Them)

• Overfitting around a single property or fund. Have a Plan B investment ready in case compliance shifts mid-application.

• Conflating residence with tax residency. You can hold a residence permit without triggering tax residency if you manage presence and ties; get professional advice.

• Buying before pre-approval. In several programs, you can secure approval first and only then finalize the investment.

• Ignoring family documentation. Birth certificates, marriage certificates, custody letters, and apostilles derail more cases than you’d expect.

• Believing outdated marketing. Spain ended real estate; Portugal ended real estate; Greece changed minimums. Verify current statutes.

• Treating citizenship as automatic. Almost everywhere, citizenship needs real presence, language, and community ties.

Who Each Program Fits Best

• Portugal: Balanced EU base with genuine path to a passport, minimal annual presence.

• Greece: Property-led EU residency for families wanting a Mediterranean home and Schengen access.

• Spain: Investors preferring liquid assets or impactful business projects in a major EU economy.

• Malta: Those wanting permanent EU residence immediately with predictable costs.

• Cyprus: Quick PR in the EU neighborhood with flexible investment categories.

• Italy: Entrepreneurs who actually want to spend time in Italy and may benefit from the flat-tax regime.

• Hungary: Low-cost EU entry with Schengen mobility; check fund/property quality carefully.

• UAE: Businesspeople and families wanting stability, schooling, and tax efficiency in a global hub.

• Singapore: Ultra-high-net-worth investors building real operations or family office substance.

• Hong Kong: Investors who value liquidity and can commit to real residence for PR.

• Thailand LTR: Long-stay Southeast Asia lifestyle with structured rules for investors and retirees.

• Malaysia MM2H: Family-friendly base with lower costs; Sarawak version is often the sweet spot.

• Mauritius: Straightforward residence by property with strong tax and lifestyle appeal.

• Panama: Fast PR in the Americas with territorial taxation and dollarized economy.

• USA EB-5: Direct immigrant route to the U.S. for those comfortable with capital-at-risk and longer timelines.

Final Pointers from the Field

• Start with compliance, not marketing. Programs change. Read the latest law, implementing regulations, and official portals.

• Build a documentation checklist early and over-collect. When an officer asks for a six-year tax history instead of three, you won’t lose weeks.

• Get local counsel and a separate buyer’s agent for property deals. One “all-in-one” vendor increases conflict of interest risk.

• Manage timelines. If school calendars matter, work backward from enrollment dates; some programs have unpredictable backlogs.

• Plan your exit. Understand what you must keep, for how long, and what your liquidity looks like if regulations evolve.

Choose deliberately, document meticulously, and keep your objectives at the center of the process. Done right, the right golden visa isn’t just a status—it’s a strategic asset that buys you time, options, and peace of mind.