However, recent developments have reshaped the landscape:

SPAIN

As of April 3, 2025, Spain has officially terminated its Golden Visa program, which previously granted residency to non-EU nationals investing at least €500,000 in real estate. This move eliminates Spain as a viable option.

GREECE

Since August 31, 2024, Greece has significantly changed its Golden Visa program:

  • In high-demand zones (e.g., Athens, Thessaloniki, Mykonos, Santorini), the minimum investment is now €800,000.
  • A reduced threshold of €250,000 is still possible, but only for specific cases — such as restoration of listed buildings or conversion of commercial properties to residential use, and only if the project is completed before applying.

Combined with a 7-year period before becoming eligible for citizenship, these changes have greatly reduced the program's attractiveness.

ITALY

Italy offers the lowest minimum investment in Europe (€250,000), typically through startup or innovation-focused funds.

However:

  • Real estate is not permitted as a qualifying investment.
  • The path to citizenship requires 10 years of residency.

This makes Italy a less appealing option for investors seeking flexibility and faster access to EU citizenship.

MALTA

Malta's program requires a minimum investment of around €690,000, with real estate included through an indirect and complex route.

Additionally, the processing time can take up to 2 years, making it one of the most expensive and bureaucratic options in Europe.

PORTUGAL

Portugal now stands out as Europe’s top Golden Visa destination due to its balanced combination of:

  • €500,000 investment in regulated (by Portugal and Europe regulators) private equity or venture capital funds.
  • Minimal physical presence requirement: just 7 days per year.
  • Improved processing times in 2025.
  • A clear and fast path to EU citizenship after just 5 years.


CONCLUSION

With the withdrawal of Spain, the restrictions in Greece, the bureaucracy in Malta, and the long timelines in Italy, Portugal’s Golden Visa offers the most flexible, efficient, and investor-friendly route to EU residency and citizenship.

To learn more about Golden Visa Portugal and the eligible funds, visit our LinkedIn page or visit us at www.magnifygvfunds.com

Discover Golden Visa Portugal-eligible funds:

- CERES Food Retail: https://magnify.partners/fund-management/ceres/

- HAVEN Hospitality: https://magnify.partners/fund-management/haven/

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