Your choice of Golden Visa investment options depends first on which assets a country accepts. In 2026, qualifying property remains available in Greece, Cyprus, Malta and Latvia, although their residence programmes work differently. Portugal, Hungary and Bulgaria offer fund-based routes, while Italy permits investments in eligible companies, innovative start-ups or government bonds. Greece is particularly attractive if you want to own and potentially rent property. Portugal and Hungary suit investors seeking managed assets without tenants. The better option depends on liquidity, the investment term, income expectations, immigration eligibility and the risk of future rule changes. A residence permit is not a guaranteed investment return, so assess immigration eligibility and financial suitability separately.

Which countries accept which assets?

Country	Qualifying asset	Headline minimum	Approximate sterling	Holding expectation
Greece	Qualifying property, subject to location and use	€800,000, €400,000 or €250,000	£678,000, £339,000 or £212,000	Retain qualifying property for renewals
Portugal	Eligible investment fund or cultural contribution	€500,000 fund; €250,000 contribution	£424,000 or £212,000	Fund maturity at least five years
Hungary	Approved property fund or institutional donation	€250,000 fund; €1 million donation	£212,000 or £847,000	Hold eligible fund units five years
Cyprus	Qualifying property, company shares or investment fund	€300,000, with VAT where applicable	£254,000	Maintain qualifying investment
Bulgaria	Approved investment funds or qualifying investments	About €512,000 for funds	£434,000	Meet ongoing investment conditions
Italy	Innovative start-up, company, government bonds or donation	€250,000 to €2 million	£212,000 to £1.69 million	Depends on chosen investment
Malta	Property purchase or lease, plus mandatory contributions	Purchase €375,000 or rent €14,000 yearly	From £318,000 purchase, before fees	Maintain qualifying property or lease

Our guide to where the eight remaining European Golden Visas leave UK investors outlines the wider options, while the Greece versus Portugal comparison examines two established programmes. The sterling equivalents use approximately €1.18 to £1 and will move with currency markets.

How does real estate work as a Golden Visa investment?

Greece offers property-based residence permits lasting five years, renewable while the qualifying investment is retained. Standard thresholds are €800,000 in designated high-demand locations and €400,000 elsewhere, generally for a single property of at least 120 square metres. The €250,000 tier is reserved for specified conversions or restoration projects. There is no minimum physical stay for renewal. The applicable property tier depends on location, conversion status and permitted use, not merely the advertised price. Our Greece Golden Visa requirements guide and Greece Golden Visa service page explain eligibility.

Ownership gives you control over a tangible asset and potential rental income, unlike a fund managed by someone else. You may occupy the property or arrange qualifying long-term tenancies. Nevertheless, sale can jeopardise continued residence unless a replacement investment satisfies the rules. Check title, building permissions, property condition and any encumbrances before paying a deposit or signing binding contracts.

Greek Golden Visa properties acquired under the newer rules cannot be used for short-term holiday rentals, with penalties starting at €50,000 and possible residence consequences. Some older investments have different treatment. IMI Daily’s review of Golden Visa rental rules discusses the restrictions. Gross rental yields sometimes cited around 3–6% are illustrations, not assured returns. Account for vacancies, repairs, agents’ charges and taxation. Agree who handles tenant selection, rent collection and legal compliance if you employ a local property manager.

What does the Greek purchase actually cost?

A €400,000 property may attract transfer tax of approximately 3.09%, or €12,360, where the normal transfer-tax system applies. Illustrative agency fees of 3% add €12,000, while professional fees, registration charges and residence-application costs vary. Using legal fees of €9,000–€15,000 and a €2,000 initial permit fee, the example reaches approximately €35,000–€41,000 before insurance, translations and ongoing property taxes. Confirm whether VAT, rather than transfer tax, applies to the particular transaction, and request a written breakdown from local advisers.

Greece has proposed raising property transfer tax for certain non-EU residential buyers from 3% to 15%. Reports now point towards July 2027, but implementing legislation and exemptions need confirmation. If enacted with the municipal surcharge, an effective 15.45% would add about €49,000 compared with 3.09% on €400,000. Our guide to Greece’s proposed transfer tax and buying Greek property from abroad discuss the implications.

How do funds work as a Golden Visa investment?

Portugal accepts subscriptions of at least €500,000 into qualifying funds established under Portuguese law. Funds must have at least five years’ maturity when invested, with at least 60% of their investments in companies headquartered in Portugal. The residence route generally requires an average minimum of seven days’ presence yearly. Fund eligibility does not establish investment quality: examine underlying assets, leverage, diversification, governance, fees and the exit mechanism. Our Portugal investment funds guide and Portugal fund service page explain selection and eligibility.

Hungary’s Guest Investor Programme accepts €250,000 in qualifying real-estate fund units, blocked for at least five years. The fund must satisfy additional property allocation and manager approval conditions. Check the blocked securities account requirements and whether the manager remains authorised; approval of one fund does not establish that every property fund qualifies, as our guide to Hungary’s Guest Investor Programme explains.

Funds remove responsibility for finding tenants, maintaining buildings and managing individual property transactions. Their minimum investment can also be lower than a standard Greek property purchase, depending on jurisdiction.

But fund investments have manager, valuation and liquidity risks. Private holdings may be difficult to sell, management costs reduce returns and distributions are never guaranteed. An early fund closure or material change can threaten compliance, even if a temporary fall in market value does not automatically invalidate residence. Confirm reinvestment requirements with the authorities and review the AIMA rules on maintaining the investment before subscribing.

Funds versus real estate side by side

Factor	Real estate (Greece)	Funds (Portugal, Hungary)
Control	Investor chooses the property	Fund manager controls underlying investments
Income	Possible long-term rent; not assured	Distributions depend on fund terms
Liquidity	Sale subject to market and residency rules	Usually restricted for required holding period
Transaction costs	Transfer tax, agent and legal fees	Subscription, management and legal charges
Ongoing work	Tenants, maintenance, insurance, tax	Monitoring, reporting and fund review
Main regulatory risk	Letting restrictions and potential tax changes	Rule changes, liquidation and renewal eligibility
Currency	Euro investment against sterling wealth	Euro investment against sterling wealth

Which tests should UK investors apply?

1. Time horizon. Property is saleable when a buyer is available; funds can prevent redemption for years. Neither suits money needed imminently.

2. Income or growth. Long-term property lets may generate rent, while some funds distribute income and others concentrate on capital growth.

3. Hands-on or hands-off. Property requires management and maintenance; fund investing requires initial due diligence plus ongoing review.

4. Tax on exit. Greece’s individual property capital-gains-tax suspension runs through 2026 under current rules. Tax treatment depends on future legislation and residence. See tax when you sell Golden Visa property.

5. Programme change risk. Requirements can change before purchase, application or renewal. Obtain up-to-date local legal advice.

6. Source of funds and currency. Retain clear documentary evidence of transfers and allow for exchange-rate movements, as our application cost breakdown explains. funding a Portugal Golden Visa from a US IRA illustrates how funding structures affect eligibility.

Is a lower-commitment route better?

Some applicants prioritise residence over investment returns. Portugal’s cultural contribution route starts at €250,000 but is generally non-refundable. Cyprus permanent residency requires qualifying investment and income, while the Malta Permanent Residence Programme combines property with substantial non-refundable fees. Those include a €60,000 administration fee and €37,000 contribution, beyond the property commitment. Check eligibility for dependants, who may require separate documentation, insurance and application fees. The Greece Financially Independent Person visa relies on qualifying income rather than a Golden Visa property investment. Italy’s investor visa offers a different asset-based choice.

If citizenship is the overriding aim, Dominica and St Lucia operate distinct programmes, discussed in the future of Caribbean citizenship. Understand residency versus citizenship by investment before comparing outcomes. Europe’s Entry/Exit System affects travel recording but not eligibility itself. Our second residency planning in 2026 guide covers broader strategies; our comparison of lawyers and consultants explains the importance of regulated advice.

Frequently asked questions

Can you still get a European Golden Visa by buying property?

Yes. Greece continues to offer qualifying property investments from €250,000 in restricted categories. Cyprus and Malta use property within separate residence programmes, while Latvia also offers an investment route. Portugal and Hungary do not currently accept direct residential purchases for their main investor permits.

Is a fund or property better for a Golden Visa?

Neither is universally better. Property offers tangible ownership and possible rent, alongside management and resale risks. Funds avoid direct property duties but introduce manager, liquidity and valuation risks.

Can I rent out my Greek Golden Visa property?

Generally, qualifying long-term rentals are allowed. Properties subject to the newer Golden Visa restrictions cannot be offered as short-term holiday lets. Breaches can trigger significant penalties and affect residence permission.

What happens if my Portuguese fund underperforms?

Investment losses alone do not normally invalidate residence if the fund and holding remain compliant. Early liquidation or an unsuitable replacement may require action before renewal.

Does the investment have to stay in place after I get residency?

Usually yes. Maintaining the qualifying investment is important for renewal, although the precise holding obligations and exit arrangements differ between programmes.

If you are weighing funds against property, Coates Global’s immigration lawyers can assess the investment term, liquidity, tax implications and immigration requirements. Seek tailored advice before transferring capital or signing binding documents.