Welcome. My name is Jonathan. I am a qualified wealth manager and one of the leading EU Golden Visa consultants globally, specialising in helping internationally minded individuals secure second citizenships to give their families a more flexible future. With over 1,000 successful client cases and a 100% success rate, my team and I are well placed to guide you through the Golden Visa landscape in the European Union (EU) in 2025.

This blog post explores the major Golden Visa programmes available across the EU and addresses the critical question: Which one is right for you?

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What We Will Cover

This is a multifaceted topic, so we will break it down into manageable sections:

• What Golden Visas actually are and who they are designed for

• The current political context and why Golden Visas are under scrutiny

• An overview of key EU Golden Visa programmes, including Portugal, Italy, Greece, Cyprus, Hungary, and Latvia

• A decision tree to help you determine the most suitable programme

• Essential considerations before pursuing a second citizenship

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What Are EU Golden Visas?

Let us begin by recognising a problem that many globally mobile individuals face: borders. Borders can limit where you can do business, live, raise your children, or retire. For those who qualify, Golden Visas offer a solution.

EU Golden Visas are a pathway for foreign investors and their families to obtain residency or even citizenship in a country, typically through a substantial financial investment. These are often six-figure sums, though there are exceptions.

The term “Golden Visa” is, strictly speaking, a marketing term. It describes an investor visa that grants residence privileges — and sometimes citizenship — in exchange for investment. The required investment types and amounts, as well as the privileges granted, vary by country. However, one major benefit across most programmes is the potential for eventual citizenship and a second passport, offering freedom and flexibility for your future.

Additional benefits might include visa-free travel, access to public healthcare and education, and the right to live, work, and study in the host country. For those with the means, a Golden Visa is an extremely powerful tool that opens up the world.

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Financial Returns and Political Challenges

EU Golden Visas can make strong financial sense. In many cases, your investment may yield healthy returns in addition to residence rights and the eventual prospect of citizenship.

However, politically, Golden Visas are increasingly controversial within the EU. The idea of “citizenship for sale” is facing mounting resistance from EU institutions. Lawmakers in Brussels have pushed for member states to tighten regulations due to concerns over national security — especially in the context of heightened global tensions, such as the ongoing war in Ukraine and deteriorating US-China relations.

These pressures are having an impact.

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Recent Closures and Tightening Regulations

Several countries have scrapped or significantly restructured their programmes in response to political pressure:

• Ireland has terminated its investor scheme.

• The UK, now outside the EU, has also closed its equivalent.

• Montenegro ended its programme to align with EU accession goals.

• Spain recently closed its programme, citing a housing crisis — though the true motivation is debatable.

• Malta had its citizenship-by-investment programme declared illegal by the European Court of Justice and will be forced to close it.

Even countries like Portugal and Greece, which still offer Golden Visas, have tightened eligibility criteria — removing certain investment options and raising minimum thresholds.

This shift is unfortunate, particularly as the demand for second citizenships is growing rapidly. The benefits of flexibility, global mobility, and security have never been more attractive. Therefore, if you are considering a second citizenship in Europe, the best advice is to act now — before your options narrow further.

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Why European Citizenship?

If you are reading this, you likely understand the appeal. But let us recap some fundamentals.

Most EU countries permit dual citizenship, which allows you to maintain your existing nationality. An important exception is Spain, which typically requires renunciation unless you are from an ex-Spanish colony.

A European passport provides:

• The right to live, work, and study in 27 EU countries

• Visa-free travel across the Schengen Area and to 180+ countries globally

• No additional tax obligations unless you become tax resident in the country

• A valuable legacy for your family, as EU citizenship is passed down through generations

Unlike the United States, Europe does not tax citizens based on nationality — only on tax residency and assets within the country. Therefore, becoming an EU citizen does not inherently change your tax situation unless you relocate and become a tax resident in the country.

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The Major Programmes in 2025

Many EU Golden Visa schemes share common benefits, but some offer clear advantages. Let us compare them on several key criteria.

Time to Residency

Most countries grant residency within a few months — except Portugal, where processing delays due to popularity can extend timelines. However, Portugal counts this waiting time towards your required holding period for citizenship, making it less of an issue in the long term.

Physical Stay Requirements

This is where Portugal shines. While most programmes require significant time spent in the country — sometimes full tax residency — Portugal demands only one week per year. This minimal requirement makes Portugal an attractive option for those with global lifestyles.

Time to Citizenship

Portugal also offers the shortest route to citizenship at just five years, compared to seven to ten years for other programmes. This makes it an ideal choice if your primary objective is citizenship — and you want to achieve it quickly, without relocating.

Dual Nationality

All major EU programmes discussed now allow dual nationality — a critical feature for most international investors.

Minimum Investment

Here are some rough guidelines for minimum investment amounts:

• Latvia: €60,000 (residency only)

• Greece and Hungary: from €250,000

• Cyprus: slightly more

• Portugal and Italy: €500,000

Latvia: A Special Case

Latvia offers the lowest minimum investment at €60,000, which explains its growing popularity. However, this programme is largely limited to residency. To achieve citizenship, you must live in Latvia for ten years and achieve fluency in the Latvian language, which is notoriously difficult. Therefore, it is more suitable for those seeking EU access rather than a second passport.

Latvia does not allow dependent parents to be included, unlike other countries.

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Family Inclusion and Tax Residency

In most cases, your EU Golden Visa will allow you to include your children and dependent parents, and all programmes grant access to local healthcare, education, and employment — provided you reside in the country.

However, only Portugal allows you to pursue citizenship without becoming a tax resident, making it uniquely flexible for investors with complex international lives.

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Ready to Choose? Use the Decision Tree

By now, you may already have a sense of which programme suits your needs. To further assist, we will introduce a decision tree to help match your goals with the most appropriate EU Golden Visa programme.

For the sake of this exercise, let us assume that your end goal is European citizenship. While this tool is no substitute for a detailed personal consultation, it should offer valuable clarity. See the video at the top of this page for the decision tree.

If you would like a free, no-obligation consultation to explore your options in more depth, you are very welcome to book a Zoom meeting with me directly.

Golden Visas continue to be a compelling route for globally minded individuals seeking second citizenship, enhanced mobility, and greater flexibility for their families and financial futures. With recent political shifts in Europe, understanding which programmes remain viable and what they offer is more important than ever. In this comprehensive guide, we explore the current Golden Visa landscape in the European Union as of 2025 and help you assess which path might be most suitable for you.

What Are Golden Visas?

Golden Visas are essentially residency or citizenship-by-investment programmes that offer foreign nationals the right to reside—sometimes permanently—in a country in exchange for a qualifying financial investment. These programmes typically involve investments in real estate, business ventures, government bonds or cultural projects, and usually start at a six-figure euro sum.

Despite the name, a Golden Visa is not always a direct route to a passport. It is a pathway—sometimes short, sometimes long—to permanent residency or citizenship, depending on the country’s rules and your level of commitment.

The Political Landscape: A Shifting Terrain

The European Union has seen significant political movement on the Golden Visa front. While these programmes have long been attractive to international investors, they have drawn criticism from EU lawmakers for offering what some see as “citizenship for sale.”

Several countries have recently shut down their schemes or made them significantly more restrictive. Spain and Malta have closed their programmes under the stated aims of addressing housing crises and complying with EU rulings. Portugal and Greece have both raised minimum investment thresholds and removed certain qualifying options. Ireland and the UK have exited their investor programmes altogether. These developments underscore the urgency of acting sooner rather than later if a second citizenship in Europe is part of your long-term planning.

Why European Citizenship?

European citizenship offers unparalleled lifestyle and mobility benefits. A passport from an EU nation grants the right to live, work, study and retire in any of the 27 EU member states. It also provides visa-free or visa-on-arrival access to over 180 countries worldwide.

Crucially, most EU countries allow dual citizenship. This means you can retain your original nationality while acquiring an EU passport. Furthermore, holding EU citizenship does not create new tax obligations unless you become a tax resident of the issuing country. This makes EU citizenship particularly attractive for those who want to enjoy greater global flexibility without significant tax burdens.

Finally, EU citizenship can be passed on to future generations, offering a permanent legacy of mobility and opportunity to your children and grandchildren.

Comparing Key European Golden Visa Programmes

Let’s look at the most prominent programmes that remain open in 2025: Portugal, Italy, Greece, Cyprus, Hungary and Latvia.

Portugal

• Minimum Investment: €500,000

• Residency Timeline: Delays due to popularity, but 18-month processing time counts toward citizenship

• Stay Requirements: Just 7 days per year

• Path to Citizenship: 5 years

• Dual Citizenship: Allowed

• Family Inclusion: Children and dependent parents

• Tax Residency: Not required for citizenship

Portugal remains unique for its low physical presence requirement and relatively fast route to citizenship. It is ideal for those who wish to secure a passport without major lifestyle changes.

Italy

• Minimum Investment: €500,000

• Path to Citizenship: 10 years

• Stay Requirements: Must live in Italy

• Dual Citizenship: Allowed

Italy’s programme suits those interested in relocating or spending significant time in the country. It combines lifestyle appeal with a robust path to EU citizenship.

Greece

• Minimum Investment: From €250,000

• Path to Citizenship: 7 years

• Stay Requirements: Tax residency required

• Dual Citizenship: Allowed

With one of the lowest entry points, Greece remains a viable option. However, the increased scrutiny and tighter rules mean applicants must be prepared to engage with local residency.

Cyprus

• Minimum Investment: €300,000

• Citizenship Path: 4 out of 7 years living in Cyprus

• Dual Citizenship: Allowed

Cyprus offers EU residency through investment, but the path to citizenship is lengthy and complex, involving substantial physical presence and integration.

Hungary

• Minimum Investment: From €250,000

• Citizenship Path: Requires full-time relocation

• Dual Citizenship: Allowed

Hungary is competitively priced but, like Cyprus, demands a physical move and long-term presence for citizenship eligibility.

Latvia

• Minimum Investment: As low as €60,000

• Citizenship Path: 10 years with full-time residence and language proficiency

• Dual Citizenship: Allowed (limited for some nationalities)

• Family Inclusion: No provision for parents

Latvia is a budget-friendly route to EU residency but offers limited utility for those seeking a passport without relocation or language immersion. It is most useful for nationals without Schengen access.

Which EU Golden Visa is on your radar for 2025? 

For a personal review and advice tailored to your situation, click the button below for a free consultation with Jonathan.