7 Best EU Countries to Obtain Residence Permit by Investment in 2024

EU residency offers visa-free travels, excellent education and healthcare, access to major economies, and job opportunities. However, obtaining one can be challenging.

Learn about top destinations that issue residence permits quickly in return for economic contributions, which could prove to be profitable investments.

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What is residency by investment?

Over the past decade, EU nations have attracted €25 billion in foreign direct investment through Golden Visa programs. The term usually refers to residency for foreign investors contributing to the host country's economy through real estate purchases, government bonds, or businesses.

Golden Visa regulations vary among countries. However, investors aren't typically required to reside continuously in the host country. After meeting residency requirements, investors can apply for permanent residency or citizenship.

1. Portugal

Since 2012, the country has granted residence permits to around 13,000 investors and 20,000 family members.

Recent changes to Portugal's Golden Visa program include prohibiting residency solely through real estate purchases, introduced in October 2023. Investors now have five Golden Visa options:

• contribute €250,000 to preserve Portugal's cultural heritage;
• invest €500,000 in research institutions or Portuguese funds;
• establish or expand a business with a minimum investment of €500,000, creating jobs;
• generate 10 new full-time positions for Portuguese citizens.

Investing in funds is preferred, offering potential returns within 5 to 10 years with an annual yield of 3—10%.

Eligibility extends to the investor, their spouse, financially dependent children under 26, and parents.

2. Greece

The Greek Golden Visa offers accessible residency through real estate investment of €250,000 or more, though the threshold in prime areas is now €800,000.

A transitional period allows investors to qualify under previous conditions by depositing and completing the investment by specific deadlines.

In general, Greece offers several pathways to residency:

• real estate purchases;
• lease or timeshare of licensed hotels or tourist residences for 10 years;
• direct investments in the Greek economy, including company capital, bonds, or fixed deposits;
• investment in mutual or alternative funds.

Eligibility extends to the investor, spouse, financially dependent children under 24, and financially dependent parents.

3. Hungary

The country will launch its Golden Visa program in July of 2024, offering a 10-year residence permit. Investors can qualify by:

• purchasing shares in Hungarian investment funds for at least €250,000;
• investing at least €500,000 in residential property;
• donating at least €1,000,000 to public funds supporting higher education institutions.

The main applicant, spouse, and children under 18 can obtain residency in Hungary. However, timing is crucial as visas will be issued on a first-come, first-served basis.

4. Spain

Applicants for a Spanish residence permit typically invest €500,000 in real estate. Other options include:

• opening a €1,000,000 deposit in a Spanish bank;
• acquiring shares in Spanish companies or funds for €1,000,000;
• investing €2,000,000 in government bonds;
• and establishing a business that contributes to job creation or innovation.

With this permit, the investor and their family gain residency for an initial three years, extendable for another five years. Eligibility extends to the investor, spouse, financially dependent children, and parents.

5. Italy

The country’s Investor Visa program, once among Europe's costliest, has become more accessible since 2020, with entry starting at €250,000, making it one of the EU's most affordable, alongside Greece and Hungary.

Four options for obtaining an Italian residence permit by investment include:

• investing €250,000 in an official innovative project startup;
• purchasing shares of existing Italian companies for €500,000;
• investing €1,000,000 in cultural, educational, immigration, or scientific projects of public interest;
• buying government bonds with a minimum maturity of two years for €2,000,000.

The main applicant's spouse, children under 18, financially dependent adult children, and financially dependent parents can obtain residency.

6. Malta

Malta has two residency options for investors.?

The Malta Global Residence Programme offers a one-year permit processed in 3—4 months, extendable to family members, including a spouse, dependent children under 25, siblings, and service personnel.

Participants must buy or rent property, with a minimum of €9,600 annually for rentals and €275,000 for purchases. In southern Malta and Gozo, minimums are €8,750 for rentals and €220,000 for purchases.

Additional costs include an administration fee of €6,000, health insurance of about €500 a year, and an income tax of at least €15,000 a year.

The Malta Permanent Residence Programme offers lifelong residency to non-EU, non-EEA, and non-Swiss citizens. Participants invest in real estate, paying state fees, and making charitable donations, with a required capital of €500,000, including €150,000 in financial assets.

Expenses for Malta's PR by investment range from €150,400 to €370,800, covering rent or property purchase. In the latter case, real estate must be held for five years before it can be sold, allowing for a partial return on investment.

Eligible family members include a spouse or partner, children under 18, unmarried children over 18 principally dependent on the main applicant, and dependent parents or grandparents.

7. Cyprus

Cyprus offers immediate permanent residency by investment, with permits granted within six months.

There are three paths to obtain a Golden Visa by investing at least €300,000:

• purchase residential or commercial properties;
• acquire shares in Cypriot companies;
• ?or invest in securities issued by the Cyprus Investment Fund Association.

Permanent residency extends to the main applicant, spouse, financially dependent children under 25, and disabled children of any age.

Key benefits of a European residence permit

Irrespective of the chosen country, European residence permits offer a multitude of benefits, including:

• visa-free travel within the Schengen Area, comprising 27 countries, with Bulgaria and Romania joining soon;
• opportunities to establish businesses, with Portugal and Hungary being top destinations for startups;
• tax advantages, such as Italy's flat income tax of €100,000 a year for new residents;
• access to quality healthcare and education services within the EU;
• residency rights for stability and security;
• attractive retirement options, boasting a high standard of living and safety;
• cultural enrichment through exposure to diverse cultures, languages, and experiences.?

Lyle Julien is an investment migration expert. He helps to choose the best-suited country and programs and accompany investors through the process of getting Golden Visas or second citizenship.

Follow @immigrant_invest for insights on second citizenship and residency, legal advice, and the latest news from verified sources.