The phrase "European Golden Visa" bundles together very different programs, and the map has changed substantially.
Portugal — still open, but no longer through property
Since October 2023 the real-estate route has been removed. The main route now is subscription to a licensed investment fund (CMVM), from 500,000 EUR.
What keeps it attractive is an unusual condition: an average presence of just 7 days per year. For a family not ready to relocate, that is a significant difference.
Greece — still property-linked, but split by region
Since September 2024, Greece has moved to three regional investment thresholds, with 800,000 EUR in high-demand areas, and a ban on short-term letting for Golden Visa properties.
The second change matters more than the first: it rewrites the cash-flow case entirely. Anyone planning to recover the investment through nightly rentals needs to recalculate before signing.
Malta — two different things, don't confuse them
Malta offers both permanent residence (MPRP) and citizenship by merit, and they differ on every point that matters.
MPRP is EU permanent residence, one application covering up to four generations, with no minimum stay requirement, processed in four to six months.
Citizenship by merit is assessed case by case, requires a minimum of eight months' residency, and has no capital threshold — because it is not an investment route.
What to do first
Every program has real numbers and an official source to check against. Before accepting any advice, ask to be shown the original document — in this field, information six months old can already be wrong.
See each program at vnisinvestment.com.
