In 2025, the golden visa remains one of the most popular migration tools for investors and high-net-worth individuals seeking residency or citizenship through investment. Amid significant changes in legislation across Portugal, Greece, and Spain, the global investment migration landscape is undergoing a transformation. Some traditional routes have become more restrictive, while others have gained prominence. So, where should investors focus now to obtain a golden visa in 2025? Below, we explore the key destinations, investment thresholds, legal updates, and emerging trends.
What Is a Golden Visa?
A golden visa is a government-approved residency-by-investment (RBI) program that offers foreign nationals the right to live — and sometimes work or study — in exchange for a substantial investment. In some countries, these programs can lead to permanent residency or even full citizenship. Common features include:
- Residency permits with the option to renew or transition to permanent residency
- Visa-free or visa-on-arrival travel across key regions (e.g., Schengen Area)
- Family reunification rights
- Access to education and healthcare in the host country
- Citizenship eligibility after a certain period
Top Golden Visa Routes in 2025
1. Greece: Real Estate Still in Play
As of August 1, 2023, Greece implemented a tiered structure for property investments: a minimum of €500,000 in prime areas (Athens, Thessaloniki, Santorini, Mykonos), and €250,000 in less central regions. This has increased interest in provincial cities and island locations.
Greece also allows investments in tourism projects, restoration of heritage buildings, and participation in investment funds. Residency requires just 7 days of presence per year, and citizenship is possible after 7 years of continuous legal residence.
✅ Pros: Fast processing (as little as 2 months), no stay requirement, attractive property options
⚠️ Cons: Rising real estate prices in top areas, limited stock in high-demand zones
2. Portugal: Shifting from Real Estate to Funds
Portugal eliminated real estate as a qualifying option for golden visas in October 2023. Now, the eligible pathways include:
- Investment in Portuguese venture capital or private equity funds: €500,000 minimum
- Donations for scientific research: €500,000
- Contributions to cultural heritage projects: €250,000
- Business creation with job generation
Despite the loss of real estate as a route, Portugal remains a top destination due to its quality of life, tax benefits, and citizenship eligibility after 5 years.
✅ Pros: EU residency, access to quality healthcare and education, strong passport after 5 years
⚠️ Cons: Complexity of selecting compliant funds, higher due diligence standards
3. Spain: Real Estate Option Under Review
Spain currently allows golden visa applicants to invest in:
- Real estate worth at least €500,000
- Government bonds
- Shares in Spanish companies
- Bank deposits
However, the Spanish government has announced plans to phase out the real estate route due to housing market pressures. Changes are expected to take effect during 2025.
✅ Pros: Stable property market, EU access, residency with no minimum stay
⚠️ Cons: Uncertainty about future legal changes, potential phase-out of key options
4. Malta: Citizenship Through Investment (MIIP)
Malta offers full EU citizenship via the Malta Individual Investor Programme (MIIP). Requirements include:
- Non-refundable donation to the National Development Fund: €600,000+
- Real estate purchase (min. €700,000) or rental (min. €16,000/year)
- Minimum 12 months of residency before citizenship application
Malta’s program is renowned for its thorough due diligence process.
✅ Pros: Access to all EU rights and benefits, strong passport
⚠️ Cons: High total cost, extensive background checks, longer timeline
5. United Arab Emirates: 10-Year Golden Visa
The UAE offers a long-term residency visa valid for 10 years. Investment options include:
- Real estate investment of AED 2 million (approx. €500,000)
- Entrepreneurship and innovation
- Academic or professional excellence in science, engineering, or medicine
While the UAE does not offer citizenship, the visa provides extensive lifestyle and business benefits.
✅ Pros: Tax-free environment, modern infrastructure, no income tax
⚠️ Cons: No path to citizenship, high cost of living in major cities
6. Turkey: Citizenship by Investment in 6 Months
Turkey remains one of the few countries offering citizenship through real estate. Requirements include:
- Property purchase worth at least $400,000 USD
- Alternative options: business investment or fixed capital contribution
Citizenship is granted in 4–6 months without a language requirement or physical stay.
✅ Pros: Fast-track to citizenship, simple process
⚠️ Cons: Limited visa-free access to EU, economic and political volatility
Key Trends in 2025
- Tightening in the EU: Several EU countries are phasing out real estate as a qualifying investment
- Shift toward innovation and funds: Tech, research, and fund-based options are replacing property investments
- Rise of digital residency models: Countries like the UAE, Thailand, and Singapore offer flexible long-term stays
- Stricter due diligence: Governments are enforcing stronger AML and KYC procedures
- Faster digital applications: Online portals and remote ID verification are becoming the norm
Choosing the Right Route: Match Investment to Intentions
When evaluating a golden visa program, investors should consider:
- Goal: Do you want temporary residency, permanent status, or full citizenship?
- Budget: What are you willing to invest and over what timeframe?
- Family needs: Education, healthcare, and lifestyle considerations
- Residency requirements: Are you willing to live in or visit the country annually?
- Integration: Do you plan to learn the language or engage with the local culture?
Conclusion
In 2025, the golden visa landscape is evolving rapidly. Some of the most popular real estate routes — such as those in Portugal and Spain — have already been eliminated or are under review. At the same time, new pathways are emerging via innovation, cultural support, and fund investment.
Top choices for investors today include Greece (outside premium zones), Portugal (via investment funds), Malta (for full EU citizenship), the UAE (for tax-advantaged long-term residency), and Turkey (for fast-track citizenship).
Strategic planning and legal guidance are essential to choosing the most suitable and future-proof route. With proper preparation, a golden visa can offer not just residency — but security, mobility, and global opportunity.
