Golden Visa Portugal vs Greece vs Malta
Golden Visa Portugal vs Greece vs Malta: Which One Fits You in 2026?
The Golden Visa remains one of the most popular routes to European residency for investors — but Portugal, Greece, and Malta each offer a distinctly different program, and the rules have shifted significantly in recent years. Here's how they actually compare in 2026.
Portugal: Fund-Based Investment Only — Real Estate No Longer Qualifies
Portugal's Golden Visa (officially the ARI program) is still active in 2026, but it looks very different from the property-driven version many people still remember. Since 2023 reforms, residential and commercial real estate purchases no longer qualify for new applications. Today, the main routes are:
- Investment funds: minimum €500,000 in a qualifying venture capital or private equity fund
- Support for scientific research
- Support for arts, culture, or heritage restoration (from €250,000)
- Job creation and business investment
- Real estate can still be part of your broader relocation plans — you're simply no longer able to use a property purchase to qualify for the visa itself.
- Investment type: investment funds (from €500,000), no real estate route
- Minimum stay: as little as 7 days in year one, 14 days per subsequent year
- Permanent residency: available after 5 years
- Residential and commercial : 10 years for most nationalities (7 years for EU and CPLP-member nationals) as of the 2026 nationality law update
Greece: Real Estate Still Qualifies, Lower Entry Point in Select Areas
Unlike Portugal, Greece's Golden Visa remains built primarily around real estate investment, making it the go-to option for investors who specifically want a property-based route. Investment thresholds vary by region — properties in Athens, Thessaloniki, and popular islands carry higher minimums than less central areas.
- Investment type: real estate purchase
- Minimum stay: no minimum stay required to maintain residency
- Path to citizenship: longer timeline than Portugal, with stricter physical residency requirements at the citizenship stage
Malta: Premium Positioning, EU Access
Malta's residency and citizenship-by-investment programs sit at a higher price point but offer a well-established, EU-recognized pathway. Malta is often chosen by investors prioritizing speed and a strong international reputation over cost efficiency.
- Investment type: government contribution, real estate, or a combination
- Minimum stay: varies by program tier
- Path to citizenship: faster options available at a premium investment level
Side-by-Side Comparison
| Portugal | Greece | Malta | |
| Real estate route available? | No (since 2023) | Yes | Yes (combined option) |
| Minimum investment | €500,000 (fund) | Varies by region | Higher entry point |
| Minimum stay | 7–14 days/year | None | Varies |
| Permanent residency | 5 years | Longer, residency-dependent | Varies |
| Citizenship | 10 years (7 for EU/CPLP) | Longer, residency-dependent | Faster (premium tier) |
| Best for | Hands-off fund investors | Real estate-focused investors | Speed and reputation-focused investors |
Which One Is Right for You?
- Choose Portugal if you're comfortable with a fund-based investment and want minimal physical presence requirements — but be aware citizenship now takes 10 years for most nationalities.
- Choose Greece if you specifically want to own real estate as part of your investment.
- Choose Malta if speed and program reputation matter more to you than upfront cost.
Golden Visa rules change frequently — what was true in 2023 is often no longer true today. Getting current, accurate guidance before you commit to an investment route is essential.
Weighing your options between Portugal, Greece, and Malta?
Contact MAROLE & Partners for a personalized, up-to-date case evaluation.