Residency by investment in Europe, 2026: Portugal compared with the alternatives.
Residency by investment gives you the right to live in a European country, and to travel across the Schengen Area, in exchange for a qualifying investment. It is not a passport. Citizenship, where available, comes later and on each country’s own terms.
Portugal is Jason’s specialism and the route most of his clients choose. Some clients’ circumstances point elsewhere: a business in Italy, family in France, a preference for an English-speaking jurisdiction. This page puts the five European routes Jason works with side by side, on the facts, so the comparison against Portugal is an informed one.
The five routes compared
| Route | Minimum investment | Permit | Stay requirement | Citizenship track |
|---|---|---|---|---|
| Portugal Golden Visa | €250,000 (cultural donation; €200,000 in low-density areas) or €500,000 (qualifying fund) | 2-year permit, renewable; permanent residency possible after 5 years | Average of about 7 days a year | 10 years from first permit for most nationalities, 7 for EU and CPLP (law of 19th May 2026); A2 Portuguese and a civic test |
| Greece Golden Visa | €800,000 property in Attica, Thessaloniki, Mykonos, Santorini and larger islands; €400,000 elsewhere; €250,000 for conversions and listed-building restorations | 5-year permit, renewable while the investment is held | None | 7 years of actual residence, with Greek language; the Golden Visa alone does not build that time |
| Italy Investor Visa | €250,000 innovative start-up; €500,000 Italian company; €1 million philanthropic donation; €2 million government bonds | 2-year permit, renewable for 3 | None | 10 years of legal residence; B1 Italian |
| Malta Permanent Residence Programme | €37,000 government contribution plus €60,000 administration fee and €2,000 donation, with a property purchase of €375,000 or a lease of €14,000 a year | Permanent residence certificate from the outset | None | No defined investment track; naturalisation is discretionary and requires genuine residence |
| France Talent Passport, investor category | €300,000 direct investment in a French business, with job creation or retention commitments | 4-year permit, renewable | Genuine activity expected; A2 French required at renewal from 2026 | 5 years of residence, with language and integration tests |
All figures are programme minimums before fees, taxes and legal costs. Greece and Malta are property-led. Portugal has not accepted property since October 2023. Italy and France require an active investment in a business.
Where Portugal sits
Portugal is the only route in the table that combines a low stay requirement with a defined path to citizenship. The trade-off since May 2026 is time: ten years to a passport for most applicants, where it was five - the detail is in the 2026 citizenship rules. Residency itself has not changed. Permanent residency remains available after five years and the investment can be exited at that point.
Greece is cheaper to enter in most regions and has no stay requirement, but the Golden Visa does not count towards citizenship without seven years of actual residence. Italy and France suit clients who intend to run a business there. Malta gives permanent status immediately and in English, at a lower headline cost, but with no investment route to a passport.
Beyond Europe, Panama’s Qualified Investor Visa gives immediate permanent residency from $300,000 in a US-dollar, territorial-tax economy — a different goal from EU access, and particularly relevant for US clients. It is covered in the complete Panama Golden Visa guide.
Beyond the Golden Visa in Portugal
Portugal also offers the HQA route, a highly qualified activity visa built around a €175,000 investment in an approved research programme. It is a residence route under the standard residence-permit absence limits, so it does not carry the Golden Visa’s seven-days-a-year flexibility. The D7 and D8 visas suit clients planning to live in Portugal full time. Each is covered on its own page.
How Jason works on routes outside Portugal
Jason sets out the facts on each route, helps you frame the questions, and introduces you to the regulated partner in that jurisdiction who handles the application. He remains your single point of contact. Where the route is Portugal, he runs the process personally, in association with Holborn Assets.
Residency by investment, answered.
Greece, Italy and Malta have no minimum stay to keep the permit. Portugal asks for an average of about seven days a year. France expects genuine business activity. Only Portugal pairs a low stay requirement with a defined citizenship track.
On headline contribution, Malta’s Permanent Residence Programme at €37,000 plus €60,000 in fees and a €2,000 donation, though it also requires a property purchase of €375,000 or a lease of €14,000 a year. Portugal’s cultural donation route starts at €200,000 in low-density areas. Greece starts at €250,000 for conversion projects.
Not on its own. Greek citizenship requires seven years of actual residence in Greece and Greek language, and time spent outside Greece on a Golden Visa does not count.
The residence permit has not changed. What changed on 19th May 2026 is the nationality law: the citizenship application point moved from five to ten years for most nationalities, seven for EU and CPLP, counted from the first residence permit. Applications submitted on or before 18th May 2026 stay under the old rules.
No. Property investment was removed from the Portugal Golden Visa in October 2023. The current routes are qualifying funds, cultural and heritage donations, scientific research and company or job creation.
No. Malta’s citizenship-by-investment programme closed in 2025 following the Court of Justice of the EU ruling. The Malta Permanent Residence Programme is a residence card and is open.
Not sure which route fits?
Book a consultation and Jason will set out how each route compares with Portugal, on the facts.