7 Best Countries with Golden Visa Program

In recent years, the concept of "Golden Visa" has been receiving increasing attention, especially in the European Union (EU). As a result, several countries have decided to completely close their "Golden Visa" programs, while others have introduced stricter rules. "Golden Visa" programs allow foreign citizens to obtain permanent residency and even citizenship in exchange for significant investments in the host country. These investments can take various forms, the most common being real estate. However, some countries are expanding the "Golden Visa" options to include private equity, venture funds, local businesses, cultural initiatives, scientific research, and government debt. Nevertheless, investing in a "Golden Visa" still remains the fastest and most flexible way to obtain a second passport and secure international refuge.

Portugal

Since 2023, Portugal has taken a leading position in this area. Portugal has been ranked first in the list of the best countries with a "Golden Visa" program since 2023. Here is a list of the 7 best countries with a "Golden Visa" program:

• Portugal
• Malta
• Spain
• Greece
• Italy
• Austria
• Switzerland

This list is based on authoritative reports from countries offering expanded global opportunities. By providing high-net-worth individuals (HNWIs) and their families access to new markets and a multitude of benefits, including business, education, healthcare, taxation, and lifestyle, the "Golden Visa" serves both current and future generations.

Portugal

The "Golden Visa" program in Portugal is one of the leading choices in the world. It remains fully operational based on existing rules as of August 2023, despite recent government proposals for significant changes. In addition to real estate, investors can explore other attractive options within the "Golden Visa" program, such as investments in investment funds (with a minimum threshold of 500,000 euros) or investments in Portuguese cinema (with a minimum threshold ranging from 200,000 to 250,000 euros). The main advantage of the program lies in its exceptional flexibility: after obtaining a residence permit, investors have the freedom to spend as much time as they wish in Portugal, provided that the minimum stay requirement is seven days per year. After five years, applicants become eligible for permanent residency or Portuguese citizenship. Portugal boasts one of the most powerful passports in the world, offering visa-free access to 187 countries and full freedom of movement within the EU. For entrepreneurial investors, the Highly Qualified Activity (HQA) visa presents an interesting option. It involves establishing a Portuguese company in collaboration with a local university, with various levels of participation and a minimum investment of just 175,000 euros. It is worth noting that HQA applications receive priority processing, leading to a faster acquisition of residence permits.

Malta

The "Golden Visa" program in Malta is one of the most sought-after options in the European Union (EU), mainly due to its fast track to EU citizenship. The program offers two pathways: obtaining citizenship within 12 months or obtaining citizenship within 36 months, depending on the amount of investment. The 12-month pathway requires an investment of €750,000, with an additional €50,000 for each family member. Alternatively, the 36-month pathway requires an investment of €600,000, also with an additional €50,000 for each family member. Additionally, applicants must make a contribution of at least €10,000 to a Maltese charity or NGO and purchase or rent property. Maltese citizenship provides full EU rights. Compared to other "Golden Visa" options, Malta's program stands out for its fast track to citizenship, virtually guaranteeing approval if applicants have no criminal record.

Spain

The "Golden Visa" program in Spain represents an attractive opportunity in the Eurozone. It offers the right to residency with a minimum investment of 500,000 euros in real estate or the option to invest in a new business without a specific threshold.

Greece

Greece currently offers the most affordable path to obtaining a "Golden Visa" through real estate investments in Europe, requiring only €250,000. According to a report, the government plans to raise this threshold to €500,000 in 2023, focusing on prestigious areas of Athens and Thessaloniki. An advantage of the Greek program is the possibility of fully remote application processing, with many investors receiving permanent residence permits in just three months. However, permanent residence in Greece does not grant the right to Greek citizenship or freedom of movement within the EU; it provides the right to reside permanently in Greece and travel for 90 days within the Schengen area. For those seeking Greek or European citizenship, Portugal's "Golden Visa" or the HQA visa offer a more attractive overall package with more appealing benefits.

Italy

The "Golden Visa" program in Italy offers a minimum investment threshold of 250,000 euros, but it differs from the route through real estate. To reach this threshold, investors must invest in an "innovative startup." Alternatively, they can choose to invest 500,000 euros in shares of an Italian joint-stock company, donate 1 million euros to an Italian NGO, or invest 2 million euros in Italian government bonds. The Italian program includes a long 10-year period for obtaining citizenship and requires proficiency in the Italian language at the B1 level. Acquiring citizenship requires a full ten years of residence in Italy, payment of Italian taxes, and achieving a B1 level in the complex Italian language. While the Italian program offers the advantage of application approval prior to investment, it may be a more attractive option for those seeking residency rights in Europe rather than citizenship.

Austria

Austria stands out among the options in the EU by providing investors with the freedom to choose the type of investments. The investments must be significant and valuable to the Austrian government, with an annual quota of only 300 applicants. Austrian citizenship through investment is not an official program but is regulated by Article 10, Section 6 of the Austrian Citizenship Act. This allows the government to grant Austrian citizenship in exchange for contributions of "outstanding merit," including economic, sports, scientific, and cultural contributions. Unlike most "Golden Visa" countries, Austria does not accept passive investments such as government bonds or real estate for residency rights. Acceptable forms of investment include significant contributions to a state fund, investments in joint ventures, venture capital, and innovative or priority enterprises according to government requirements. Investment thresholds in Austria typically start at 3 million euros and can reach up to 10 million euros. Obtaining Austrian citizenship through this program is faster than in many other "Golden Visa" countries, with an average timeframe of about 36 months from the initial investment. However, applicants must be proficient in German and renounce their existing citizenship, as Austria does not allow dual citizenship. While Austria offers a unique option in the EU, it may not be the most practical choice for those seeking multiple passports.

Switzerland

Obtaining residency through investment in Switzerland is a complex process. The country does not have a pathway through real estate investment and there are no plans to introduce such a pathway. Instead, investors can obtain Swiss residency through two routes: the Swiss residency program based on lump-sum taxation or the Swiss business investor program. The Swiss passport holds one of the most powerful positions in the world, but it is also one of the most difficult to obtain. In order to