Europe’s Golden Visa Landscape 2026: Remaining Options after Major Cuts

Introduction

The past three years have reshaped Europe’s Golden Visa market. Spain eliminated its popular residence‑by‑investment scheme in April 2025, Portugal stopped accepting residential property for its Golden Visa in October 2023, and Greece raised the investment floor while banning short‑term rentals on visa‑linked units. For investors still seeking a foothold in Europe, the question is clear: what programmes survive these cuts?

What Changed Between 2023 and 2025?

Spain – Golden Visa Abolished

Effective April 2025, Spain’s Golden Visa was formally repealed. The country now only offers residence through the non‑lucrative visa (suitable for retirees or remote workers) and a newly introduced digital‑nomad visa. Neither of these pathways requires an investment in real estate; instead, applicants must prove sufficient passive income or remote‑work contracts.

Portugal – Property Removed from Golden Visa

In October 2023 Portugal stripped residential property from its Golden Visa criteria. The programme still accepts capital transfer, job creation and R&D investments, but the most straightforward route—buying a €280,000‑€500,000 apartment—no longer grants residency. Prospective investors now turn to the D7 visa, which is income‑based rather than asset‑based.

Greece – Thresholds Raised and Airbnb Ban

Greece responded to EU pressure by introducing three investment tiers: €250,000, €400,000 and €800,000 for residential property. The lowest tier still grants a five‑year renewable residence permit, but the government imposed a strict ban on short‑term rentals (Airbnb, Booking.com) for any unit obtained through the Golden Visa.

Remaining European Residency‑by‑Investment Options

Despite the setbacks, three jurisdictions continue to offer genuine residency‑by‑investment routes that can lead to long‑term stay and, in some cases, citizenship. Below is a quick snapshot:

Country	Investment Type	Minimum Amount	Residence Length / Renewal	EU/EEA Status	Main Restrictions
Greece	Residential property (tiered)	€250k – €800k	5 years, renewable	EU member	No short‑term rentals on GV units
Montenegro	Real estate (single‑family or apartment)	€250k (low tier) – €450k (high tier)	1 year, renewable up to 5 years; permanent after 5 years	Non‑EU, euro‑zone	No citizenship pathway via investment (CBI closed 2022)
Turkey	Real‑estate purchase + holding period	$400,000 USD	Citizenship after 3 years of ownership	Non‑EU (Eurasian)	Must retain property for full 3‑year term

Greece – Tiered Property Visa

The Greek programme remains attractive because of its relatively low entry point and the ability to include family members (spouse, children under 21, dependent parents). The three tiers work as follows:

• €250,000 tier: One‑bedroom apartment in a secondary city or peripheral area.
• €400,000 tier: Two‑bedroom unit in Athens, Thessaloniki or popular tourist zones.
• €800,000 tier: Luxury property or multiple units; suitable for investors seeking a stronger asset base.

The purchase must be completed and the title deed registered before the residence application is filed. After five years of continuous legal residence (no minimum stay requirement), the permit can be renewed indefinitely, and after seven years applicants may apply for Greek citizenship—provided they meet language and integration criteria.

Montenegro – Property‑Based Residence

Montenegro’s programme is not an EU scheme, but it offers a straightforward path to long‑term residence in a country that uses the euro. Investors choose between two tiers:

• Low tier (€250k): Purchase of a single‑family house or apartment outside the coastal belt.
• High tier (€450k): Property located in a prime coastal or capital‑city area.

The residence permit is issued for one year, renewable annually. After five consecutive years of legal stay, applicants can apply for permanent residency and eventually citizenship through naturalisation (minimum 10 years total). Unlike Greece, there are no restrictions on short‑term rentals, making the investment attractive to investors who wish to generate rental income.

Turkey – Citizenship by Real Estate

Although Turkey lies outside the EU, its citizenship‑by‑investment programme remains popular for buyers seeking a passport that offers visa‑free travel to over 110 countries. The key points are:

• Purchase of real estate valued at **US$400,000** or more.
• The property must be retained for a minimum **three‑year holding period**.
• Applicants submit the investment proof together with a standard citizenship application; processing typically takes 3–4 months.

The Turkish passport does not grant EU freedom of movement, but it provides a strategic bridge between Europe and Asia and can be combined with other European residency routes for broader mobility.

Alternative Non‑Investment Routes in Spain

While the Golden Visa is gone, Spain still welcomes high‑net‑worth individuals through its non‑lucrative residence visa (minimum annual income of €27,000) and the newer digital‑nomad visa (minimum remote‑work salary of €2,400 per month). These visas do not require a property purchase but allow the holder to live in Spain for up to two years, renewable for another two. They are often paired with a private property rental or purchase for personal use.

How Resida Global Can Help

Navigating the differing legal frameworks, due‑diligence requirements and timelines can be daunting. Resida Global specialises in end‑to‑end management of residency‑by‑investment applications across Europe and beyond. From property sourcing and title verification to document preparation for immigration authorities, our team ensures a seamless experience.

Practical Steps for Prospective Investors

• Define your objective: Are you after EU mobility, long‑term residence, or a full passport?
• Select the jurisdiction: Compare Greece’s low entry point with Montenegro’s rental flexibility and Turkey’s citizenship benefits.
• Secure financing: Ensure funds are ready for transfer, including taxes (e.g., Greek property tax of 3% on purchases over €150k).
• Engage a local advisor: A qualified partner like Resida Global can verify title deeds and handle notarisation.
• Submit the application: Provide proof of investment, clean criminal record, health insurance and family documents where applicable.
• Maintain compliance: Keep the property for the required holding period (Turkey) or renew residence permits on schedule (Greece, Montenegro).

Conclusion

The Golden Visa landscape in Europe has narrowed, but viable pathways still exist. Greece offers a tiered, EU‑recognised residency with modest thresholds; Montenegro provides a flexible, euro‑based residence for non‑EU investors; and Turkey delivers a fast‑track citizenship through real estate. By understanding each programme’s nuances and working with experienced advisors such as Resida Global, investors can still secure a European foothold in 2026.

Frequently Asked Questions

What is the minimum investment required for Greece’s Golden Visa after the recent changes?

Greece now offers three tiers: €250,000 for a basic apartment, €400,000 for a larger unit in major cities, and €800,000 for premium properties.

Can I rent out my Greek property on Airbnb after obtaining the Golden Visa?

No. The Greek government has banned short‑term rentals (Airbnb, Booking.com) on any property purchased under the residency‑by‑investment scheme.

Is Montenegro’s residence programme part of the EU?

Montenegro is not an EU member; however, it uses the euro and offers a renewable residence permit that can lead to permanent residency after five years.

How long does it take to receive Turkish citizenship after buying a $400k property?

The standard processing time is 3–4 months once you have held the property for at least three years and submitted all required documents.

What role does Resida Global play in these investment‑based residency applications?

Resida Global assists with property sourcing, due‑diligence, document preparation, submission to immigration authorities, and post‑approval compliance for each programme.