7 European countries where you can obtain residency by investment

Residency by investment, often referred to as a «Golden Visa», is a legal way to obtain resident status in Europe through investments in real estate, business, or the national economy. Each program is regulated by national legislation and applications are reviewed by government authorities. Through these programs, governments boost their national budgets, while foreign investors gain a new place of residence for themselves and their families, along with opportunities for their children’s education, entrepreneurship, and tax optimization. Furthermore, residents of EU countries (excluding Ireland and Cyprus) enjoy the freedom to travel throughout the Schengen Area. For many, European residency serves as a contingency plan in times of instability and a tangible pathway towards obtaining second citizenship.

Currently, the most popular residency-by-investment programs are offered by 7 European countries, five of which are EU members. Obtaining a Golden Visa does not necessarily require substantial investment: in Serbia and Montenegro, for example, there is no minimum investment threshold, and residency in Greece can be secured by purchasing real estate valued at EUR 250,000 or more.

In this article, we take a detailed look at the most popular residency-by-investment programs in Europe, including the real participation requirements, minimum investment amounts, eligibility criteria for applicants, and the key advantages available to investors and their families — from visa-free travel within the Schengen Area to the long-term prospect of obtaining second citizenship in the future.

Residency by investment in Portugal: no obligation to reside in the country

The minimum investment amount in Portugal is EUR 250,000 or the creation of 10 jobs, regardless of the investment amount. Residents are not required to live in Portugal permanently. During the first year after obtaining a residence permit, residents must spend at least 1 week in Portugal. In subsequent years, residents must spend at least 2 weeks in Portugal.

The legislation provides 5 distinct investment options:

You may be eligible for a 20% reduction in investment thresholds if you invest in the arts, scientific research, or job creation in Portugal’s low-density population areas. To select the most advantageous investment option, consult immigration lawyers who specialize in «Golden Visas». A well-planned approach to obtaining a residence permit not only lowers the required investment threshold, but also has the potential to generate returns on investments.

Investors are required to submit a sworn statement pledging to keep the funds invested in Portugal’s economy for at least 5 years.

To obtain a residence permit, investors must hold a Schengen visa and apply for residency within 90 days of entering Portugal. Family members may submit their applications concurrently with the investor. Eligible family members include spouses, children under 17 (or up to age 25 in certain cases), parents, and dependent siblings.

Processing a residence permit card typically takes up to 3 months, and the card is valid for 2 years and renewable.

Permanent or immediate Portuguese citizenship may be applied for after 5 years.

Residency by investment in Greece: the widest range of investment options

Residency in Greece can be obtained through investments starting at EUR 250,000. Investors may continue to live abroad as periods of absence will not affect the renewal of their residence permits.

There are 8 distinct investment options for obtaining residency in Greece:

• from EUR 250,000 in non-residential or industrial real estate (which must be renovated for residential use to qualify for the residence permit); alternatively, investors may purchase designated architectural heritage sites—in which case, the full restoration of the property must be completed to qualify for residency renewal;
• from EUR 250,000 in startup equity—investors may acquire no more than 33% of the company’s shares; within the first year following the investment, the company must create a minimum of two jobs and maintain them for a period of 5 years;
• from EUR 350,000 into a Greek or foreign mutual fund established to channel capital into the country’s economy; alternatively, an alternative investment fund may be selected;
• from EUR 400,000 into standard residential properties; however, the minimum threshold rises to EUR 800,000 in the regions of Athens and Thessaloniki, as well as on Mykonos, Thira, and other islands with a population exceeding 3,100 residents;
• from EUR 500,000 into shares of Greek companies, the Greek branch of a foreign company, or a business engaged in real estate investment or startups;
• from EUR 500,000 into a bank deposit with a term of at least 1 year, where a spouse or partner may be listed as a co-owner;
• from EUR 500,000 into government bonds with a maturity period of at least 3 years;
• from EUR 800,000 into corporate shares and/or Greek government bonds that have been admitted for trading on regulated markets.

Funds may be invested across up to 3 categories, except for real estate purchases and startup establishment. For instance, one could place EUR 300,000 in a bank deposit, spend EUR 100,000 on purchasing shares of a Greek company, and allocate an equal amount to shares in a mutual fund. The total investment amount must meet the requirement of the category with the highest minimum threshold—in this specific case, EUR 500,000.

Real estate owned in Greece may be rented out, provided it is done on a long-term basis only. If the property is rented out via Airbnb, sublet, or utilized as an office or company branch, the residence permit will be revoked, and a fine of EUR 50,000 will be imposed.

Investors can apply for a residence permit directly in Greece. A Schengen visa is sufficient for entry.

The residence permit card is issued within 2 months and valid for 5 years. Residents may renew their stay and bring family members to the country.

Permanent residency can be obtained after 5 years of residence in Greece, and citizenship can be obtained after 7 years.

France: residence by investment for entrepreneurs

To obtain a French residence permit through investment, you must invest at least EUR 300,000 in a business located in France. You may establish your own company or invest in an existing one. In either case, the foreign investor must play an active role in managing the business rather than merely receiving passive returns. Investments may be made personally or through a company—either one you own outright or one in which you hold at least a 30% equity stake.

Within 4 years of obtaining the residence permit, the investor must create or preserve jobs.

In France, it is also possible to obtain a residence permit by founding a startup under the «French Tech» program. In this case, the minimum investment threshold requirement does not apply. However, applicants must demonstrate an annual income of at least EUR 21,876.40.

You can apply for an investor residence permit either from abroad or while already residing in France under a different type of residence permit, such as for being financially independent. The application process typically takes between 2-4 months.

The residence permit is issued for a 4-year term, renewable upon request. Investors receive a document titled Talent — Investisseur Économique. Investors may also sponsor their family members, who will be granted «Talent» category resident status upon arriving in France.

Permanent residency in France is available after 5 years of residence. However, applicants may also apply for citizenship after the same period.

Cyprus residence permit by investment

Cyprus is virtually the only country in Europe where one can immediately obtain permanent residency through an investment starting from EUR 300,000.

Investment options in Cyprus include:

• houses and apartments purchased directly from a developer (i.e., the primary market);
• commercial real estate, such as offices, retail spaces, hotels, or a combination thereof, may be purchased on either the primary or secondary market;
• share capital in an active company that employs staff in Cyprus;
• units in a Cypriot collective investment organization.

Investors must meet an income requirement of a minimum of EUR 50,000 per year. However, if the investor relocates with a spouse, the threshold increases by EUR 15,000, plus an additional EUR 10,000 for each minor child. Family members may be included in the initial application.

To obtain permanent residency, you must first be approved and then enter the country within 1 year. Once in Cyprus, investors receive a permanent residence card valid for 10 years and renewable indefinitely. You may not spend more than 2 consecutive years abroad; otherwise, your residency status will be revoked.

After obtaining permanent residency, you can transfer your funds from one investment program to another. For example, you could initially invest in a business and then use those funds to purchase real estate.

You may obtain Cypriot citizenship after 8 years of residency.

Residency by investment in Serbia: business and real estate options

Due to the absence of a minimum investment threshold for obtaining a residence permit, Serbia is an attractive destination. Furthermore, the country offers 3 distinct options for obtaining residency through investment:

• Business: you may establish a new company, acquire an existing one, or register as a self-employed individual. To obtain a residence permit, you will need to provide a business registration certificate and an educational diploma (or proof of work experience).
• Startup: you must establish a business and obtain an assessment from one of the country’s science and technology parks certifying that the business’s activities are innovative. To renew the residence permit, you must either hire at least one Serbian citizen or demonstrate an annual income of at least EUR 8,520.
• Real Estate: a residence permit based on real estate ownership can only be obtained if you personally reside in the house or apartment you own in Serbia. Simply purchasing property for the sole purpose of obtaining residency—with the intention of subsequently renting it out—is not permitted. The country also imposes certain restrictions on real estate purchases by foreign nationals.
• Application process: You may apply for a residence permit directly in Serbia. If you are eligible to enter Serbia under a visa-free regime, obtaining an entry visa beforehand is not required. The application process typically takes between 15 and 30 days.

The Serbian residence permit card is issued for three years to business founders and property owners. For startup founders, it is issued for 1 year. In all cases, the permit can be extended.

Permanent residence in Serbia is granted after 3 years, though you can apply for citizenship after the same period.

Montenegro residence permit through investment in traditional and cryptocurrency companies

While investors most often move to Montenegro through company registration, it is also possible to obtain a residence permit by investing in real estate. There is no minimum investment threshold.

Requirements for obtaining an investor residence permit in Montenegro:

• Business. A residence permit is issued for working in your own company. You must also own at least 51% of its shares;
• Real estate. You can purchase houses, villas, apartments, hotels, and commercial properties, which you can then rent out.

Many investors open cryptocurrency companies in Montenegro today because the government actively supports this niche. To learn more about this and other promising business opportunities in Montenegro, consult migration specialists.

You can apply for a residence permit while staying in the country under a visa-free regime. If you need a visa, request it at the consulate or embassy of Montenegro; it is issued within 10 days. Once you arrive, you can apply for a residence permit card, and the application will be processed within 40 days. The residence permit is initially issued for 1 year and can be extended for the same period each time.

Family members can move here through the reunification procedure and receive a residence permit for the same period as the investor.

Permanent residence in Montenegro can be obtained after 5 years, and citizenship can be obtained after 10 years.

Why did the Spanish government close the residence permit by investment program?

Spain completely closed the residence permit for investment program in April 2025. The government made this decision to stop the rise in real estate prices and make housing more affordable for Spanish citizens, especially in southern cities like Barcelona, Madrid, Málaga, Alicante, and Valencia. In fact, 94% of investor residence permits were issued to foreigners through the purchase of housing, even though the program offered other investment options.

Currently, investors can only renew existing residence permits in Spain, as well as obtain residency for their family members. New applications will not be accepted.

Under the Spanish program, investors could obtain a residence permit by investing at least EUR 500,000 in real estate, EUR 1 million in a business, deposit, or investment fund, or EUR 2 million in government bonds. The investor residence permit was valid for 3 years and could be renewed for 5 years at a time.

An alternative to Spain’s «golden visa» are residence permit programs based on:

• financial independence — you must have a stable monthly income of at least EUR 2,400.
• remote work — digital nomads must confirm monthly earnings of at least EUR 2,368.
• startup — you must provide a business plan for an innovative company and have the funds to implement it, though there is no minimum threshold.

Visa processing times are 10 days for startup founders and remote workers and 20 days for residence permits. For financially independent individuals, the process takes approximately 1 month.

Digital nomads and startup founders receive a residence permit card valid for 3 years, while financially independent individuals receive one valid for 1 year. In all cases, the stay can be extended. After 5 years, immigrants have the right to apply for permanent residence.

Spanish citizenship can be obtained after 10 years of residence in the country. However, children born here can be issued a passport within 1 year.