Golden visas: which investment residence routes are still open
Spain, Ireland and the UK have closed their investor visas, and Portugal no longer counts property. Which routes are still open to US, Canadian and UK citizens, what each asks you to invest, and what to check first.
A golden visa is a residence permit you get by investing in a country. It lets you live there. It does not make you a citizen. Several of the best-known programmes have closed or changed since 2023, and many websites have not caught up. This guide lists which routes are still open to US, Canadian and UK citizens, what each asks for, and which have gone.
Closed or changed
These routes no longer work the way older articles describe.
- Spain: closed. Organic Law 1/2025 removed Spain’s investor residence articles. It took effect on 3 April 2025. Applications filed before then are decided under the old rules. Existing permits stay valid, and renewals follow the rules in force when the permit was first granted.
- Ireland: closed. The Immigrant Investor Programme stopped accepting applications from close of business on 15 February 2023.
- United Kingdom: closed. GOV.UK says you can no longer apply for a new Tier 1 (Investor) visa.
- Portugal: no more property. Buying real estate no longer qualifies. The routes AIMA lists today are funds, research, culture, company capital and job creation.
- Hungary: no direct property purchase. The official list now has a real estate fund and a university donation only.
- Malta: no citizenship for investment. On 29 April 2025, the EU Court of Justice ruled that Malta’s 2020 investor citizenship scheme breaks EU law. Malta’s residence programme, below, is separate.
- Canada: paused. IRCC marks its Start-up Visa Program, for founders backed by approved investors, as paused.
Still open in Europe
Each of these gives residence in an EU country. Amounts are the minimums on the official pages we read.
| Country | Main options | Minimum |
|---|---|---|
| Greece | Residential property | EUR 250,000 to EUR 800,000, by area and type |
| Portugal | Portuguese investment funds, research, culture, a company with jobs | EUR 250,000 to EUR 500,000 |
| Italy | Government bonds, company capital, startup capital, donation | EUR 250,000 to EUR 2 million |
| Malta | Fees and contribution plus property and assets | EUR 97,000 in fees and contribution, before property |
| Hungary | Real estate fund or university donation | EUR 250,000 |
| Cyprus | Property or other listed investment, plus foreign income | EUR 300,000 |
Greece. You buy one residential property. The minimum is EUR 800,000 in Attica, Thessaloniki, Mykonos, Santorini and islands with more than 3,100 residents. It is EUR 400,000 elsewhere. A built property at either level needs at least 120 square metres of main space. A EUR 250,000 tier covers converting a commercial building to homes, or restoring a listed building. The property cannot be let as a short-term rental.
Portugal. The main option for most investors is EUR 500,000 in Portuguese funds that are not real estate funds. The funds must have at least five years to maturity, with at least 60% invested in companies based in Portugal. Other options are EUR 500,000 for scientific research, EUR 250,000 for arts or cultural heritage, EUR 500,000 into a company that creates five permanent jobs, or creating ten jobs. You must spend at least 7 days in Portugal in the first year and 14 days in each later year.
Italy. You choose one: EUR 2 million in Italian government bonds, held for two years; EUR 500,000 in the capital of an Italian company, held for two years; EUR 250,000 in an innovative startup; or a EUR 1 million donation to a public-interest project. You also need enough money to support yourself on top of the investment.
Malta. The Malta Permanent Residence Programme gives permanent residence. You pay a EUR 60,000 administrative fee and a EUR 37,000 government contribution, plus EUR 7,500 for each adult dependant other than a spouse. You must buy property worth at least EUR 375,000 or rent for at least EUR 14,000 a year. You also need capital assets of EUR 500,000, with EUR 150,000 in financial assets, or EUR 650,000, with EUR 75,000 in financial assets. A EUR 2,000 donation to a Maltese charity completes the list.
Hungary. You buy at least EUR 250,000 of units in a real estate fund registered with the Hungarian National Bank, held for at least five years. The alternative is a EUR 1 million donation to a qualifying university. The permit lasts up to 10 years and can be extended for up to another 10.
Cyprus. You invest at least EUR 300,000 in one of the listed categories. These include a new home bought from a developer as a first sale, and other real estate. You must also show secure annual income of at least EUR 50,000 from abroad, plus EUR 15,000 for a spouse and EUR 10,000 for each child. This route gives permanent residence.
Still open outside Europe
United Arab Emirates. Dubai grants a 10-year residence permit to owners of property worth at least AED 2 million in total. Mortgaged property counts, but a lien is placed on it. You cannot sell the property during the 10 years. Read our guide to moving to Dubai for the other UAE routes.
United States (Canadian and UK citizens). The EB-5 programme leads to a green card. The minimum is USD 1,050,000, or USD 800,000 in a targeted employment area or an infrastructure project. Your investment must create or preserve 10 full-time jobs. USCIS says the first inflation adjustment applies to petitions filed on or after 1 January 2027.
New Zealand. The Active Investor Plus visa has two categories. Growth needs at least NZD 5 million invested for 36 months, and at least 21 days in New Zealand in that time. Balanced needs at least NZD 10 million for 60 months, and at least 105 days in New Zealand. The fee starts at NZD 27,470.
Several countries in Latin America also offer investor residence, including Panama and Costa Rica. See their entries in our routes table for the current rules.
What a golden visa gives you, and what it doesn’t
- Residence, not a passport. Citizenship has its own rules, usually years of living in the country and often a language test. The EU Court ruled in 2025 that granting citizenship in direct exchange for set payments breaks EU law.
- Rules on time spent there. Some routes ask for very little time in the country. Portugal and New Zealand set minimum days. Low minimums suit people who want a second base, not a full move.
- A possible tax change. Living in a country for long enough usually makes you a tax resident there. US citizens stay subject to US tax on worldwide income wherever they live.
- Money that is locked up. Hungary’s fund units are blocked for five years. Italy’s bonds and company shares must be held for two. Plan for the money to be out of reach.
What to check before you invest
- Check the programme is still open on the day you apply. Programmes change. Use the official page, not a sales page.
- Read the exact investment rules. Single-property rules, area limits and fund conditions decide whether an investment counts.
- Ask who earns a commission. Developers, fund managers and agents are often paid when you invest. YourMoveMap does not sell investments.
- Price in the extra costs. Government fees, lawyers, translations and taxes on property purchases add up.
This is general information, not legal, tax, investment or immigration advice. Confirm each requirement with the official source before you commit any money.