Expert Advice

Golden Visas have emerged as a popular route for individuals aiming to establish residency in Europe. Contrary to common perception, these visas aren’t solely for the ultra-rich. Numerous European countries provide affordable investor residency programs, enabling individuals with modest financial resources to attain residency. This article delves into the seven most budget-friendly Golden Visas in Europe, offering insights into their advantages, limitations, and how they can facilitate the acquisition of dual citizenship.

Understanding Golden Visas
Golden Visas represent residency-by-investment initiatives that confer residency rights in exchange for a significant investment in the host country. These investments can take various forms, including real estate acquisitions, private equity or venture capital funds, government bonds, or contributions to art or scientific research. Following a specified duration, Golden Visa holders become eligible to apply for citizenship, entailing an EU passport and its associated benefits. However, it’s crucial to note that not all Golden Visas are identical, necessitating a thorough understanding of the specifics of each program.

The Seven Most Economical Golden Visas in Europe
Here’s an overview of the seven most budget-friendly Golden Visas in Europe:

1. Malta Permanent Residency Program (MPRP): €100,000
2. Greece Golden Visa real estate route: €250,000
3. Portugal Highly Qualified Activity (HQA) Visa: €175,000
4. Portugal Cultural Production Golden Visa: €250,000
5. Portugal Golden Visa (rehabilitation in low-density zone): €280,000
6. Portugal Golden Visa (standard rehabilitation): €350,000
7. Latvia Investor Visa: €250,000

Malta Permanent Residency Program (MPRP)
Introduced in 2021, the MPRP stands as Malta’s latest addition to the Golden Visa programs. For a basic fee of €100,000, successful applicants and their families can secure permanent residency in the Schengen area without any obligatory physical presence in Malta. After five years of residency, one can apply for Maltese citizenship. However, the €100,000 constitutes a non-refundable donation to the Maltese government, and applicants must demonstrate €500,000 worth of total assets.

Greece Golden Visa: Real Estate Route
Greece’s Golden Visa ranks among the most economical in Europe, with the lowest-cost option being the acquisition of residential property worth at least €250,000. Holders of the Golden Visa for Greece are not mandated to reside in the country to uphold their residency status. Nonetheless, to be eligible for Greek citizenship, one must spend a minimum of 183 days per year in Greece.

Portugal Highly Qualified Activity (HQA) Visa
The HQA Visa in Portugal is tailored for entrepreneurial investors aiming to establish a research-driven startup through a Portuguese university. With an investment of €175,000, investors enjoy the same minimal physical presence requirements as Golden Visa holders and the same pathway to Portuguese citizenship. However, the success of the startup and the returns on the investment aren’t guaranteed.

Portugal Cultural Production Golden Visa
Portugal’s cultural production Golden Visa forms part of the arts and heritage investment pathway. This route involves investing in Portuguese feature film production, offering a guaranteed annual return of 4%. The investment also provides tax-exempt status, priority processing, and an option to invest just €200,000 for films set in low-density areas of the country.

Portugal Golden Visa: Real Estate Options
Portugal offers two cost-effective Golden Visa routes based on real estate investment. The first requires a minimum investment of €280,000 in residential real estate suitable for rehabilitation in one of Portugal’s low-density areas. The second option necessitates a minimum investment of €350,000 in real estate for rehabilitation, not confined to low-density areas.

Latvia Investor Visa
The Latvia Investor Visa enables successful applicants to secure residency in Latvia for a minimum of €250,000, invested in real estate or government bonds. Latvia Investor Visa holders only need to visit the country once a year to maintain their residency status. However, the timeline to Latvian citizenship is at least 10 years, which is longer than most other Golden Visa programs.

Choosing Wisely
As evident, each Golden Visa program boasts its unique advantages and disadvantages. Hence, it’s imperative to carefully contemplate your long-term objectives before selecting a program to invest in. Portugal offers the most flexible pathway to citizenship, with three of Europe’s most affordable and flexible Golden Visa routes. However, if you possess an entrepreneurial, technical, or managerial background and €175,000 to invest, the Portugal HQA Visa could merit consideration.

Frequently Asked Questions
1. What is the most economical EU Golden Visa?
Malta’s new Permanent Residency Program (MPRP) stands as potentially Europe’s most economical Golden Visa program, with a basic cost of just €100,000. However, this constitutes a non-refundable donation to the government.

2. What does the Malta Golden Visa entail?
Malta’s Golden Visa represents Europe’s sole remaining citizenship by investment program. It enables individuals to obtain a Maltese EU passport within a timeline of 1-3 years, by investing a minimum of €600,000 in Malta.

3. Is it possible to buy citizenship in Malta?
The shortest route to Maltese citizenship spans one year, available for a minimum investment of €750,000.

4. Which EU country offers the easiest path to citizenship?
Malta emerges as the EU country offering the easiest path to citizenship, provided you are willing to pay a high fee (€750,000). Alternatively, Portugal presents the most affordable and expedited route to EU citizenship, boasting a range of flexible residency options.

5. What constitutes the Greece Golden Visa?
The Greece Golden Visa Program provides a pathway for non-EU foreigners to acquire residency in Greece, in return for an investment of €250,000 in Greek real estate.

6. Which country stands out for the Golden Visa?
Portugal emerges as Europe’s premier destination for the Golden Visa, offering an extensive array of investment types, varied investment thresholds, and minimal physical presence requirements.

7. Does Austria offer a Golden Visa?
Yes, Austria does provide a Golden Visa program; however, the requirements differ significantly from others. To obtain Austrian residency by investment, one must invest in either an Austrian business (€10 million) or the government development fund (€3 million).

Final Thoughts
Golden Visas present a viable avenue to European residency and citizenship. While each program boasts its unique features, benefits, and drawbacks, they collectively offer a golden opportunity for investors to establish a new life in Europe. The key lies in carefully considering your circumstances, financial capacity, and long-term goals before making a decision.