The Golden Visa landscape changed more in the past 24 months than in the previous decade. Spain shut its program in April 2025. Portugal stripped real estate from the qualifying asset list. Malta ended its Citizenship-by-Investment route in July 2025. Meanwhile, Turkey is proposing a 20-year tax holiday, the UAE expanded its 10-year Golden Visa, and Bulgaria reopened a €512K fund-based route. If you are a high-net-worth entrepreneur, founder, or family planning a Plan-B residency, the menu of credible programs in 2026 is shorter — but the surviving options are far more clearly differentiated. This guide compares every major Golden Visa available in 2026: investment minimums, tax treatment, days-of-presence rules, family inclusion, citizenship timelines, and the strategic angle each program serves best. We focus on the tax outcome, not just the residency permit, because a residency that triggers worldwide taxation is not the asset most people think they are buying.
TL;DR
- Spain Golden Visa ended April 3, 2025. No replacement announced — verify with official source before relying on any third-party claim it has restarted.
- Portugal Golden Visa is alive but real-estate-free. Qualifying routes are now investment funds (€500K), scientific research (€500K), or job creation. The NHR tax regime expired Dec 31, 2025 and was replaced by IFICI, which is far narrower.
- Greece is the cheapest EU Golden Visa, starting at €250K in low-density zones (€500K in Athens/Thessaloniki/Mykonos/Santorini). Pair it with the €100K non-dom flat tax for a clean HNW package.
- UAE Golden Visa is the only major program offering 0% personal income tax at thresholds from $200K (real estate) to $500K (business/talent).
- Turkey at €250K real estate is the lowest entry point in this list and includes a CBI pathway at $400K — plus the proposed 20-year foreign-income tax holiday awaiting parliamentary approval.
What is a Golden Visa?
A Golden Visa is a residency permit granted in exchange for a qualifying economic contribution — typically a real estate purchase, fund investment, business stake, government bond, or capital deposit. The label is colloquial; programs go by different official names (“Permanent Residence Permit,” “Investor Visa,” “Premium Residency,” “Investor Pathway”). What unites them is a defined investment threshold, a defined permit duration (usually 2–10 years renewable), and a defined family-inclusion clause covering spouse, dependent children, and often dependent parents.
A Golden Visa is not the same thing as Citizenship by Investment (CBI). A Golden Visa grants residency; a passport may follow only after years of physical presence and naturalisation tests. CBI grants citizenship directly, usually within months. In 2026, only a handful of countries — Vanuatu, St. Kitts & Nevis, Antigua, Dominica, Grenada, St. Lucia, Egypt, Jordan, Turkey, North Macedonia (limited) — still operate true CBI programs. Malta’s CBI was discontinued in July 2025 in response to EU pressure.
Why investors pick Golden Visas in 2026
- Plan-B residency without uprooting your life immediately
- Schengen mobility (EU programs grant 90/180-day Schengen access without further visas)
- Tax restructuring — but only when paired with the right tax regime, see below
- Family relocation optionality — dependent children, spouses, and often parents are included
- Future citizenship optionality — most EU programs allow naturalisation after 5–10 years of qualifying residence
The 2026 Comparison: Major Golden Visa Programs
The table below summarises the headline numbers. Use it for quick triage; read the notes for each program before acting on any number.
| Program | Min Investment | Days Required | Tax on Foreign Income | Citizenship Path | Status |
|---|---|---|---|---|---|
| Portugal Golden Visa | €500K (funds/research) | ~7 days/yr | 20% IFICI (narrow) or standard | 5 yrs to citizenship | Active, no real estate route |
| Greece Golden Visa | €250K–€800K (real estate) | None for permit; 183+ for tax res. | €100K flat (non-dom) or standard | 7 yrs to citizenship | Active, tiered by zone |
| Spain Golden Visa | N/A | N/A | N/A | N/A | ENDED April 3, 2025 |
| Malta Permanent Residence (MPRP) | €375K+ (govt fee + property/rent) | None | 15% on remitted foreign income (GRP) | CBI route closed; long path via residency | Active |
| Turkey CBI / Investor | €250K property (residency) / $400K (CBI) | None for CBI | 0% foreign income for 20 yrs (PROPOSED) | 3 yrs (CBI) or naturalisation | Active; tax holiday pending |
| UAE Golden Visa | $205K–$545K | Hybrid 90-day rule possible | 0% personal income tax | ~30 yrs to citizenship | Active, expanded 2024–2025 |
| Bulgaria Investor (Golden Visa) | €512K (AIFs/ETFs) | 183+ for tax res. | 10% flat PIT | ~10 yrs to citizenship | Reopened 2025 |
| Oman Golden Visa | ~$650K (OMR 200K) | 183+ for tax res. | 0% PIT (5% on salaries >OMR 42K from Jan 2028) | Unclear | Relaunched Aug 2025 |
| Saudi Premium Residency | $1.1M property / $1.9M business | None for permit | 0% PIT | No direct route | Expanded 2025 |
Always verify the live thresholds with the issuing authority. Investment minimums, processing fees, and qualifying assets change quarterly and program rules tighten frequently. The above figures reflect publicly available information as of April 2026.
Program-by-Program Deep Dive
Portugal Golden Visa (ARI)
Portugal’s program is the most restructured of the EU bunch. Real estate was removed as a qualifying investment in October 2023, killing the program many advisors had built their practice around. What remains: €500K minimum into a Portuguese-regulated investment fund or venture capital fund, €500K into scientific or technological research, or job creation (10+ jobs, or €500K into a business creating 5+ jobs in low-density areas). Days of physical presence are minimal: 7 days in year 1, then 14 days per two-year period.
The big tax shift: NHR was closed to new applicants in January 2024 and expired for existing holders December 31, 2025. The replacement, IFICI (Incentivised Fiscal Regime for Scientific Research and Innovation), grants a 20% flat tax on Portuguese employment/self-employment income, but only for narrowly-defined science, tech, and innovation professionals. The vast majority of former NHR seekers — passive income, retirees, freelance non-tech professionals — no longer qualify for any preferential regime. A Portugal Golden Visa in 2026 is a residency play, not a tax play, unless you are an IFICI-eligible professional.
Greece Golden Visa
Greece restructured its Golden Visa thresholds in mid-2024 into three tiers: €800K in Athens, Thessaloniki, Mykonos, Santorini, and islands with population over 3,100; €400K in other regions; €250K for conversions of commercial-to-residential property or restorations of historic buildings. There is no minimum stay requirement to maintain the permit, which makes Greece one of the most flexible programs in the EU for jet-set investors who don’t actually want to live there.
The tax angle is where Greece shines. The €100K annual flat tax non-dom regime is available to wealthy individuals who become Greek tax residents (183+ days) and were not Greek residents in 7 of the prior 8 years. It runs for up to 15 years and includes family members at €20K each. Stack the Golden Visa (residency permit, no day requirement) with the €100K flat tax (only triggered if you actually become Greek tax resident) and you have one of the most flexible HNW packages in Europe — if your foreign income exceeds roughly €400K/year, the math works.
Spain Golden Visa — DISCONTINUED
Spain’s Golden Visa was terminated effective April 3, 2025, primarily citing housing affordability concerns linked to foreign real estate purchases. Existing holders are honoured through their renewal cycles, but no new applications are accepted. There is no announced replacement program. If you encounter a brokerage offering Spain Golden Visa “applications” in 2026, treat the claim with extreme scepticism and verify with the Spanish Ministry of Foreign Affairs directly. Alternatives Spain’s marketing channels now point applicants toward: the Non-Lucrative Visa (passive income, no work permit), the Digital Nomad Visa (income-based), and the Entrepreneur Visa (business plan approval).
Malta Permanent Residence Programme (MPRP)
With CBI closed since July 2025, Malta’s residency-by-investment route is the MPRP (Permanent Residence Programme). The package is a combination: government contribution €68K–€98K (depending on whether you buy or rent property), plus a property purchase of €350K+ (€300K in Gozo/South Malta) or a five-year rental at €14K+/yr (€12K+ in Gozo/South), plus a €50K administrative fee and a €10K NGO donation. Total entry cost: €375K minimum, more typically €500K+. Permanent residency is granted; there is no minimum stay requirement.
For tax purposes, residents who become “ordinarily resident but not domiciled” pay tax on a remittance basis: foreign income is only taxed in Malta if remitted, with a 15% rate on remitted income and a €15K minimum annual tax. Malta-source income is taxed at standard rates up to 35%. This is the Global Residence Programme (GRP) layered on top — distinct from MPRP and requiring a separate application and tax election.
Turkey: €250K Property Pathway + CBI
Turkey runs both a residency-by-investment route (purchase property worth €250K+ and obtain a residence permit) and a citizenship-by-investment route (purchase property worth $400K+, hold for 3 years, and apply for citizenship). The proposed 20-year tax holiday on foreign-source income — announced by President Erdoğan in early 2026 — is awaiting parliamentary approval. If passed, it would make Turkey one of the most aggressive Golden Visa value propositions globally: lowest entry price in the EU/Med region, fast citizenship via CBI, and zero tax on foreign income for two decades. Verify the holiday’s enacted status before relying on it for tax planning.
UAE Golden Visa
The UAE’s 10-year Golden Visa is the only major Golden Visa with 0% personal income tax baked in by default. Qualifying routes include: AED 2M (~$545K) in real estate (paid-up, mortgage-free portion); AED 2M+ business investment; specialised talent categories (scientists, doctors, top executives, athletes); and the AED 750K (~$205K) residential real estate route via a 5-year visa that often functions as a stepping stone. The hybrid 90-day rule allows tax residency confirmation with as few as 90 days physically present, provided you maintain a permanent home and centre of life in the UAE.
For high earners with mobile income, the UAE Golden Visa is the cleanest tax outcome on this list. Corporate tax of 9% applies above AED 375K (~$102K) of net profit, but personal income, capital gains, dividends, and inheritance remain at 0%. See Tax-Free Residency in the UAE for the full residency and tax breakdown.
Decision Framework: Which Golden Visa Fits Your Profile
| Criterion | Best Choice | Runner-Up | Avoid If… |
|---|---|---|---|
| Lowest entry price | Turkey (€250K property) | Greece (€250K conversion zone) | You need an EU passport fast |
| 0% personal income tax | UAE | Saudi Arabia | You require Schengen mobility |
| Fastest citizenship | Turkey CBI (3 yrs) | St. Kitts & Nevis CBI (immediate) | You want EU citizenship |
| Lowest physical presence | Greece, Malta MPRP, UAE (hybrid) | Portugal (7 days) | You want to actually live there |
| Best tax outcome (HNW) | UAE + Greece €100K flat tax | Italy €300K flat (separate program) | Income < €400K/yr |
| Family-friendly | Portugal, Greece (broad inclusion) | Malta MPRP | Single applicant, no dependents |
| Crypto-friendly | UAE | Cyprus (8% flat from 2026) | High realised gains in EU |
Real-World Examples
Example 1: Portuguese Fund Route for an EU Founder
A French SaaS founder with €4M liquid net worth and a remote-first business invests €500K into a regulated Portuguese venture capital fund in mid-2026. He spends 7 days in Lisbon for biometrics and then ~14 days every two years to maintain the permit. Because the fund is held for 6 years and qualifies for the Golden Visa, he is on track to apply for Portuguese citizenship in 2031. His tax position: he does not trigger Portuguese tax residency (less than 183 days), so his French residency persists — meaning his French tax liability also persists. The Golden Visa here is a citizenship investment, not a tax shelter. Total all-in cost: €500K + ~€60K in legal/processing fees over the 6-year hold period.
Example 2: Greece Golden Visa + €100K Flat Tax for a UK Post-Non-Dom Investor
A London-based hedge fund partner exits the UK after the April 2025 non-dom abolition. He buys a €600K apartment in Glyfada (Athens, €800K zone — actually requires a €800K minimum, so he tops up to that level) and elects the Greek €100K annual flat tax non-dom regime. He spends 200 days/year in Greece to qualify as a Greek tax resident, and pays €100K/yr flat on his entire £3.5M of carry, dividends, and global investment income. Effective tax rate: ~3.3%. Compared to the £1.5M+ he would have paid under standard UK tax post-non-dom-abolition, the Greek package saves him roughly £1.4M/year — pays for the Golden Visa investment in under a year. After 15 years he can apply for Greek citizenship and EU passport.
Example 3: UAE Golden Visa for a Crypto Founder
A 32-year-old Web3 founder with $8M of unrealised crypto gains relocates to Dubai. He purchases a $560K apartment in Dubai Marina, qualifying for the 10-year Golden Visa (AED 2M property route). He establishes UAE tax residency under the hybrid 90-day rule, with his UAE permanent home and centre-of-life documentation in place. Realised crypto gains: 0% personal tax. Salary from his FZ-LLC: 0%. His holding company’s profits below AED 375K: 0%; above that, 9% corporate. Total tax on a $4M crypto realisation event: zero (subject to home-country exit-tax planning — see How to Legally Exit a High-Tax Country). The Golden Visa investment is fully recovered against tax saved on a single liquidity event.
Common Mistakes to Avoid
- Confusing Golden Visa with tax residency — A Golden Visa grants the right to reside; it does not automatically make you a tax resident. To get the tax benefit (or trigger the worldwide tax burden), you must usually meet a separate physical-presence test, typically 183 days. Plan both layers explicitly.
- Buying real estate where it no longer qualifies — Portugal removed real estate in 2023; Spain ended the program entirely in 2025. Marketing materials lag policy by 12–24 months. Confirm with the issuing authority, not the broker.
- Ignoring exit-tax exposure — Leaving a high-tax country (Germany, Norway, Canada, France, US) often triggers an exit tax on unrealised gains. The Golden Visa is the easy part; structuring the exit is the expensive part.
- Underestimating CRS reporting — Your new bank in Greece, Portugal, or UAE will report to your home tax authority under the Common Reporting Standard. Residency planning is transparent planning, not hidden planning. See CRS & Tax Transparency Explained.
- Picking the cheapest program without modelling the tax outcome — Turkey at €250K looks attractive until you discover the proposed tax holiday hasn’t passed, your home country still treats you as resident, and the property’s resale market is illiquid. The total cost of a Golden Visa is the entry investment + the tax outcome over 5+ years.
Frequently Asked Questions
Is the Spain Golden Visa really gone?
Yes. The program ended on April 3, 2025. No replacement has been announced. Existing holders may continue and renew until their permit expires, but new applications are not accepted. Verify with the Spanish Ministry of Foreign Affairs directly before relying on any third-party claim that the program has been reopened.
Can I get an EU passport through a Golden Visa?
Yes, eventually. Most EU Golden Visas (Portugal, Greece, Malta) allow a citizenship application after 5–10 years of legal residency. However, naturalisation typically requires actual physical presence — exactly the days-of-presence requirement most Golden Visas waive at the residency stage. So the citizenship pathway implies a real relocation in the latter years, not just a passive permit hold.
Which Golden Visa requires the fewest days of physical presence?
Greece and Malta MPRP have no minimum stay requirement to maintain the residency permit. Portugal requires only ~7 days/year. UAE allows a hybrid 90-day route. None of these grant tax residency without separate triggers, so the “no day requirement” is for the permit, not for tax outcomes.
Does a Golden Visa make me a tax resident automatically?
No. Tax residency is determined by separate national rules — typically physical presence (183-day rule), permanent home, or centre-of-life tests. You can hold a Golden Visa indefinitely without ever becoming a tax resident of that country. See The 183-Day Rule Explained for how each country applies the test.
Can my family be included in the Golden Visa?
Yes, in nearly all programs. Spouses and dependent children under 18 (or sometimes up to 26 if studying and financially dependent) are included. Many programs (Portugal, Greece, Malta, UAE) also include dependent parents. Each dependent typically adds €5K–€10K in fees but no additional investment.
What happens to my Golden Visa if the program is cancelled?
Existing holders are usually grandfathered through current permit cycles, with renewal terms honoured for some defined period. Spain’s 2025 cancellation, Portugal’s 2023 real-estate removal, and Malta’s 2025 CBI termination all preserved existing-holder rights. New applicants are simply locked out. This is a tail risk to model when picking a program with active political opposition.
Is the Turkey 20-year tax holiday in force yet?
Not as of April 2026. It was proposed by President Erdoğan and is awaiting parliamentary approval. If passed, it would zero out Turkish tax on foreign-source income for 20 years for new residents who were not Turkish tax residents in the prior 3 years. Until enacted, do not plan around it. Verify status with Turkish revenue authority before relying.
Next Steps
A Golden Visa is the easiest part of a residency-restructuring plan. The hard parts are the tax exit from your current country, the corporate restructuring of your business assets, and the multi-year alignment of physical presence with your chosen tax regime. Picking the right program requires modelling the total tax cost over a 5–10 year horizon, not just comparing the headline investment threshold.
Book a free consultation to discuss which Golden Visa fits your income profile, family situation, and citizenship timeline.
Related reading:
– Tax-Free Residency in the UAE: Complete 2026 Guide
– Tax-Free Residency in Portugal: NHR, IFICI & D7 in 2026
– Italy €300K vs Greece €100K Flat Tax
– Residency by Investment: Complete Guide
Last updated: 2026-04-26
Sources:
– Henley & Partners Global Citizenship Programs (henleyglobal.com)
– IMI Daily program updates 2025–2026 (imidaily.com)
– Global Citizen Solutions Golden Visa Index (globalcitizensolutions.com)
– PwC Worldwide Tax Summaries (taxsummaries.pwc.com)