Oia, Santorini, in the evening light – Golden Visa

Residence by Investment

Golden visas and residence by investment

golden visa programmes in Europe and the Americas for US and Canadian citizens and residents

A golden visa is a residence permit granted for a qualifying investment: a home base in Europe or the Americas, Schengen freedom, and for some, a path to a second passport. We advise families in Toronto, across Canada and the United States on the programmes open in 2026, and we identify clearly which have closed.

Book a consultation Check your eligibility

Figures verified 27 September 2026 · Licensed CICC consultant, Toronto

€250,000lowest EU entry point (Greece conversions, Hungary fund)

0 daysminimum stay on most European programmes

30 daysto permanent residence in Panama

10 yearsPortugal's new path to a passport

Golden visa programmes in 2026: key facts and figures

A Residence Permit, Not a Passport: Live there, travel Schengen 90/180; citizenship needs years of real residence
Still Open in Europe: Portugal, Greece, Malta, Cyprus, Hungary: Latvia kept only company and fund routes from 15 Sept 2026
Closed: Spain (3 Apr 2025), Ireland, UK, Netherlands: Existing holders keep their permits
Americas Options: US EB-5 and Panama: The only two here that lead to permanent residence quickly (Panama) or to a green card (EB-5)
No Minimum Stay on Most Programmes: Portugal 7 days a year; Cyprus and Panama one visit every two years; Spain's options 183 days
Processing Times of 1 to 24 Months: Panama 30 days; Cyprus 2–6 months; Malta 6–8; Greece 6–12; Portugal 18–24; EB-5 rural about 10
Tax Follows Where You Live: A permit does not change your tax position until you spend 183+ days or move your life there
Family Includes Spouse, Children, Often Parents: Each programme defines dependants differently; see the country page

Golden visa countries we advise on: Europe, the US and Panama

Start with the one that fits your goal — a base, a passport, or a fast status — then read its cost and requirements pages.

Portugal

From €250,000 · fund route €500,000

The most popular golden visa with Americans: fund route, 7 days a year, and now a 10-year path to citizenship. D7 and digital nomad visas for people who will live there.

18–24 months processing
Citizenship after 10 years (law of May 2026)
Real estate no longer qualifies

Portugal residence →

Greece

From €250,000 · €400,000 / €800,000 by zone

Property-based, no minimum stay, five-year renewable permit. The most affordable EU foothold if you buy outside Athens and the islands.

120 m² single-property rule
No short-term rentals
Citizenship after 7 years of real residence

Greece golden visa →

Malta

About €99,000 in fees + property

Permanent residence for life for the whole family, English-speaking, no minimum stay. Not a passport route since the 2025 court ruling.

6–8 months
Buy €375,000 or rent €14,000/yr
Spouse and minor children free

Malta permanent residence →

Cyprus

From €300,000 + VAT

The fastest EU permanent residence, decided in 2–6 months, with a visit every two years. Not in Schengen.

€50,000 secured income needed
Indefinite permit
Citizenship after about 8 years

Cyprus permanent residence →

Hungary

From €250,000 (fund)

A ten-year EU permit for a fund investment, renewable once, no minimum stay. The property route closed in January 2025.

2–4 months
10-year permit
€1m donation alternative

Hungary guest investor →

United States (EB-5)

From US$800,000

The investor route to a US green card. Rural set-aside petitions now average under a year; the programme is authorised to September 2027.

10 jobs, capital at risk
Rural I-526E ~10 months
Grandfathering deadline 30 Sept 2026

US EB-5 green card →

Panama

From US$300,000

Permanent residence in about 30 days, territorial tax, and a Friendly Nations route for US and Canadian citizens from US$200,000.

Visit every two years
Resale property now US$500,000
Citizenship after 5 years, in Spanish

Panama residency →

Spain

Golden visa ended 3 April 2025

No investment route remains. The non-lucrative visa (about €28,800 a year, 183 days) and the digital nomad visa (about €2,849 a month) are the remaining options.

Existing holders keep permits
183-day residence required
Wealth tax applies to residents

What replaced Spain's golden visa →

Latvia

Property route ended 15 Sept 2026

The €250,000 property and €280,000 deposit routes are closed to new applicants. Company capital and a new €150,000 state fund route remain.

Existing permits renewable
Schengen member
Russian and Belarusian nationals restricted

Latvia in 2026 →

Best golden visa programme by objective

Your goal	Best fit	Why	Key limitation
A European base I use a few weeks a year	Greece or Portugal	No or minimal stay; five-year permits; family included	Greece: rental ban; Portugal: AIMA delays
Permanent status for the family, fast	Cyprus or Malta	Indefinite permits in months	Cyprus is not Schengen; Malta is expensive per head
An EU passport eventually	Portugal or Greece, living there	Naturalisation after 10 (Portugal) or 7 (Greece) years of real residence	The permit alone does not count as residence
A US green card without an employer	EB-5, rural set-aside	Current visa category, priority processing	Capital at risk; 2027 sunset
Status in weeks, Western hemisphere	Panama	Permanent residence in about 30 days; territorial tax	Not Schengen; Spanish for citizenship
Lowest cost EU permit	Hungary or Greece conversions	€250,000	Fund risk (Hungary); conversion supply (Greece)

Residence by investment benefits and limitations

What you gain

A second home base you controlThe right to live, and on most programmes no obligation to.
Residence beyond the 90-day Schengen limitAn EU residence card lets you stay in that country indefinitely and travel the Schengen area; ETIAS does not apply to you.
Family includedSpouse, children and often parents on one application.
A path to a second passportAvailable, but measured in years of residence and a language test.
Published rules, predictable feesEvery figure on these pages is a government schedule; we put your total in writing.

What could go wrong

Programmes closeSpain, Ireland, the UK, the Netherlands and Latvia's property route have all ended since 2022. We advise applying while a route remains open; existing holders have always been protected.
Processing delaysPortugal's AIMA runs 18–24 months; Greece's biometric appointments can take months.
Tax is decided by where you liveA golden visa does not lower US or Canadian tax; moving does, with departure tax and treaty planning.
Capital is at risk on fund routesPortuguese and Hungarian funds, and EB-5 projects, are investments with no guaranteed return.
A permit is conditionalSell the property, miss a renewal or a required visit, and the status lapses.

Jane Katkova, licensed CICC citizenship and residency by investment consultant

Licensed CICC consultancy, Toronto

Plan a second residence with a licensed consultant

Jane Katkova has advised on citizenship and residence by investment since 1998. We confirm eligibility, the complete fee schedule and the realistic processing time before you pay anything, and we advise against a programme when it does not fit your circumstances.

Book a consultation or call +1 (416) 661-4487

25+ yearsadvising on global mobility
CICC licensedregulated Canadian consultant
5.0 on Googleclient review rating
Toronto officeclients across the US and Canada

Who residency by investment suits: US and Canadian applicants

For US and Canadian citizens

US and Canadian citizens are the core applicants for these programmes. The usual objective is a second base: a home in Europe you can use whenever you like, the right to stay past the 90-day Schengen limit, a place for retirement or for children's schooling, and, if you are patient, an EU passport for the family. Most of these permits require no minimum stay, so you can hold the option without moving.

A permit does not, on its own, reduce your tax. Tax follows residence. A US citizen files US returns and FBAR wherever they live; a Canadian who ceases residence faces departure tax. Treaties with all of these countries prevent most double taxation, not the filing.

Portugal and Greece are the mainstream choices for Americans; Malta for permanence; Panama for the Americas
ETIAS (from late 2026) does not apply to EU residence-permit holders
Naturalisation timelines are substantial: Portugal 10 years, Greece 7, Cyprus 8, Malta not a passport route

For US and Canada residents on another passport

For you a European permit is an EU foothold and a contingency residence: Schengen travel without visas, a place to land if your North American status ends, schooling for children, and eventually naturalisation. The permit does not change your US or Canadian status and does not make entering the UK, US or Canada easier.

Check nationality rules first: several programmes restrict Russian, Belarusian and Iranian nationals, and source-of-funds evidence from your current country is the core of the file.

EB-5 with a rural set-aside is the fastest route to a US green card for Indian and Chinese nationals in the US
Greece at €400,000 and Hungary at €250,000 are the lowest EU entry points
Panama's 30-day permanent residence is the quickest status anywhere on this list

Request a written golden visa recommendation for your family

Tell us how much time you would spend there, whether a passport matters, your budget and your family. We assess your profile against each programme and give you a written recommendation.

Book a consultation Compare the citizenship programmes

Frequently Asked Questions

your questions answered

What is a golden visa?

A residence permit granted in return for a qualifying investment: property, a fund, a business or a donation. It lets you live in the country, usually without a minimum stay, and travel within the Schengen area if the country is a member. It is not citizenship; a passport comes only after years of real residence and, usually, a language test.

Which golden visas are still open in Europe in 2026?

Portugal (fund and donation routes), Greece (property by zone), Malta (permanent residence programme), Cyprus (permanent residence), Hungary (guest investor fund), and Latvia's company-capital and new state-fund routes. Spain closed on 3 April 2025; Ireland, the UK and the Netherlands closed earlier; Latvia's property route closed on 15 September 2026.

Which is the cheapest golden visa in Europe?

Greece at €250,000 for a commercial-to-residential conversion or listed restoration, and Hungary at €250,000 in a real-estate fund. Greece at €400,000 outside Athens, Thessaloniki and the popular islands is the lowest-cost standard property route. Malta's government fees alone are about €99,000 for a family of four before property.

Does a golden visa lower my US or Canadian taxes?

Not by itself. Tax follows where you actually live. A US citizen keeps filing US returns and FBAR wherever they are. A Canadian keeps paying Canadian tax until they sever residential ties, at which point departure tax applies to deemed dispositions. Treaties with all of these countries prevent most double taxation.

How long until I can get an EU passport?

Portugal now requires 10 years of legal residence (7 for CPLP nationals) under the law in force since 19 May 2026; Greece 7 years of actual residence with B1 Greek; Cyprus about 8 years; Hungary 8. Malta's permanent residence is not a citizenship route. A golden visa held without living in the country generally does not count toward these periods.

Which programme leads to US residence?

Only EB-5. A US$800,000 investment in a rural or high-unemployment project that creates 10 jobs leads to a conditional green card; rural set-aside petitions are now decided in about a year on average. The regional-centre programme is authorised to 30 September 2027.

Other residence programmes we advise on

Compare them side by side: golden visa Europe comparison. Looking for a passport rather than a permit? See St Kitts CBI programme or St Lucia citizenship by investment.

Official sources and references

This page is general information, not legal or tax advice. Programme rules change; we confirm every figure before you commit.

Jane Katkova, founder of Fast Passport Boutique and licensed CICC consultant for citizenship and residency by investment

Talk to Jane Katkova's team

Discuss Residence by Investment with a licensed consultant

A confidential consultation with a licensed CICC consultant. We assess eligibility and total cost before you commit to any programme.

Licensed CICC consultant
Toronto office, clients across the US and Canada
Confidential first consultation

Book a consultation Check your eligibility +1 (416) 661-4487