In the dynamic world of residency-by-investment programs, the European Union presents a variety of options, each adapting to economic, social, and political pressures. Recent changes in Greece, Spain, and the removal of Ireland’s program altogether contrast sharply with Portugal’s Golden Visa, which remains particularly appealing for investors not looking to relocate immediately but interested in securing an EU passport.

Recent Changes Across Europe

Greece: The Greek government has significantly raised the minimum investment requirements for its Golden Visa program. Previously set at €250,000, the threshold was increased to €500,000 in 2023 for specific real estate investments in high-demand areas such as Athens, Thessaloniki, Mykonos, and Santorini​. A further increase to €800,000 is proposed, aiming to address the housing affordability crisis and regulate investment influxes into high-pressure real estate markets​ (​.

Ireland: Ireland has entirely discontinued its residency-by-investment program as of February 2023. This decision was made to address issues related to housing and rent price speculation​ (euronews)​.

Spain: on the other hand, has also been adjusting its Golden Visa program, generally maintaining its investment threshold but tightening qualifications and oversight in response to EU pressures. There has been recent discussion within the government about potentially discontinuing the real estate investment route. This consideration stems from concerns over real estate speculation and its impact on housing affordability. As these discussions progress, potential investors are advised to stay informed about any legislative changes that might affect the availability of the real estate route for obtaining a Golden Visa in Spain​ (MySpanishResidency)​​.

Portugal’s Unique Position

Portugal’s Golden Visa program continues to offer significant advantages. One of the most notable is the inclusion of the Golden Visa application processing time as part of the five-year residency requirement necessary for obtaining citizenship. This is a game-changer for those seeking an EU passport without the need to relocate or become tax residents, unless they spend more than 183 days per year in the country​ (​.

Diverse Investment Options

Since the exclusion of real estate investments from qualifying for new Golden Visas, Portugal has expanded its focus to other forms of investment, such as venture capital funds, donations to the arts, and research activities. These options allow investors to contribute economically without the need to manage properties or other active investments.

Among these options is our fund, which is a government-regulated investment vehicle eligible for the Golden Visa. We specialize in the thriving hospitality sector in Portugal, more specifically in the hotel industry. This sector not only offers robust investment opportunities but also plays a crucial role in Portugal’s vibrant tourism economy, making it an attractive option for Golden Visa investors looking for potential growth and stability (​​​.

A Comparative Advantage

With these changes, Portugal’s Golden Visa remains one of the most accessible and flexible options for investors aiming to secure an EU passport. Unlike other programs which are becoming more restrictive or have been phased out, Portugal provides a path to residency and citizenship with minimal disruption to the investor’s current lifestyle and financial exposure.


For non-EU investors looking towards the future, Portugal offers an attractive package: strategic investment opportunities with minimal residency requirements and low fiscal implications. In a landscape where other nations are retracting benefits or increasing barriers, Portugal stands out as a beacon for those looking to expand their global mobility and secure a foothold in the EU. Investors are encouraged to consult with immigration experts to navigate the evolving regulations and maximize the potential benefits of Portugal’s Golden Visa program.


Please reach out to a member of the team to discuss how we can best assist you in these regards.
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