For the better part of a decade, Golden Visas were marketed as the cleanest shortcut to global mobility. Buy a property, wire some capital, visit occasionally, and quietly secure residency—or even citizenship—in a stable country with a strong passport.

That version of the story is mostly over.

In 2026, Golden Visa programs look very different from the glossy brochures that once sold them. Governments are tightening rules, raising thresholds, changing qualifying investments, or shutting programs down entirely. And the reason isn’t mysterious: public pressure, housing crises, geopolitical scrutiny, and a growing discomfort with the idea that residency can be purchased like a luxury good.

If you’re considering a Golden Visa today, the question isn’t “Which program is cheapest?”
It’s “Which programs still make sense—and for whom?”

At its core, a Golden Visa is a residency-by-investment program. You’re granted legal residence—often with limited physical presence requirements—in exchange for investing in the country’s economy.

Historically, those investments included:

These programs gained momentum after the 2008 financial crisis, when countries were eager to attract foreign capital quickly. Over time, they became popular not just with investors, but with globally mobile families looking for Plan B residency, Schengen access, or long-term optionality.

But popularity brought scrutiny.

Over the last few years, the European Union has made its position increasingly clear:
residency should reflect real ties, not just real estate transactions.

Concerns include:

That pressure has produced real consequences:

The message is consistent: passive property investment alone is no longer enough.

Despite the pullback, some European programs remain—though they’re evolving.

Spain
Spain still offers a residency pathway through a €500,000 property investment, along with alternatives tied to business investment or government bonds. That said, political debate around housing affordability continues, and changes remain possible.

Greece
Greece raised minimum property thresholds in high-demand areas from €250,000 to €500,000. Even so, demand remains strong due to lifestyle appeal and relative affordability compared to Western Europe.

Italy
Italy has taken a different approach. Its investor visa focuses on productive capital, with options starting at €250,000 for startups or €500,000 for established companies. For some applicants, this pairs well with Italy’s broader tax incentives, especially for long-term planners.

What these programs share is a shift away from speculation—and toward contribution.

As traditional Golden Visas narrow, alternative models are stepping in.

Startup & Business Visas
Countries like Estonia, France, and the Netherlands increasingly favor founders and operators over passive investors. These visas require real activity—but also create clearer ties to the country.

Cultural & Scientific Investment
Portugal’s pivot toward funding research, arts, and environmental initiatives is often cited as a template for the future: capital aligned with national priorities.

Lower-Cost Options Outside the EU
Countries such as Turkey and Montenegro still offer property-based residency at lower thresholds, though without EU-wide mobility.

The direction is clear: governments want engagement, not absentee ownership.

While Europe tightens, other regions are expanding options.

United Arab Emirates
The UAE’s long-term residency programs target investors, entrepreneurs, and skilled professionals. These aren’t EU-style Golden Visas, but they offer stability, infrastructure, and clear frameworks—often without the political friction seen in Europe.

Panama
Programs like the Friendly Nations Visa and Qualified Investor Program remain relatively accessible, particularly for those interested in Latin America as a base rather than EU mobility.

Caribbean Citizenship Programs
Countries such as Antigua & Barbuda, St. Kitts & Nevis, and Dominica continue to offer citizenship-by-investment, appealing to applicants seeking immediate second passports rather than residency with a long runway.

These programs operate under very different assumptions—and attract a different type of applicant.

What’s happening now isn’t just policy cleanup—it’s a philosophical shift.

Golden Visas are moving from:

Governments are no longer asking “How much can you invest?”
They’re asking “What role will you play?”

For applicants, that means fewer shortcuts—but clearer rules.

If you’re considering a Golden Visa today, plan for:

The era of “buy property and forget about it” is fading.

Golden Visas haven’t disappeared—but they’ve grown up.

They now reward applicants who think long-term, align with local priorities, and understand that residency is a relationship, not a transaction.

If you approach them strategically, they can still offer extraordinary flexibility. If you approach them nostalgically—based on how things worked five years ago—you’re likely to be disappointed.