Golden Visas 2025: The Four European Countries Where You Can Still Get Citizenship Through Property Investment

Golden Visas 2025: The Four European Countries Where You Can Still Get Citizenship Through Property Investment

In recent years, many EU countries have shut down or scaled back their Golden Visa programmes—especially those based on real estate. Portugal and Ireland have closed property routes entirely, and other nations have tightened eligibility or increased scrutiny. However, four countries in Europe still offer property-based pathways to residency—and potentially citizenship—through government-approved Golden Visa schemes.

For high-net-worth individuals, retirees, or globally mobile professionals seeking Schengen access, long-term residence, or second citizenship, these remaining options are increasingly valuable.

Here’s your 2025 guide to the four countries still open to property investors—along with the pros, cons, and compliance essentials.

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1. Greece – The Mediterranean Favourite with Tiered Investment Options

Minimum Investment:

• €400,000 in most areas
• €800,000 in Athens, Thessaloniki, Mykonos, Santorini, and key zones (from March 31, 2024)
• €250,000 still possible in certain municipalities during the transition period

Residency Benefits:

• Schengen Zone access
• No minimum stay requirements
• Renewable every five years

Path to Citizenship:

• Eligible after 7 years of legal residence, with language and cultural integration tests
• Must prove genuine connection to Greece (not passive investment alone)

Pros:

• Fast processing (approx. 2–3 months)
• Family members (spouse, dependent children, parents) included
• Real estate options in cities, islands, and rural areas

Cons:

• Tiered pricing has driven demand—and prices—higher in central Athens
• Citizenship is not automatic and requires genuine ties

Compliance Note:
Investors must use approved property contracts and maintain ownership for the duration of their residency. Applications are reviewed by the Greek Migration and Asylum Ministry, with enhanced due diligence applied.

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2. Latvia – The Quiet Contender with Low Entry and Schengen Access

Minimum Investment:

• €250,000 in property in Riga or other qualifying areas
• Plus a 5% government fee on the property value
• Property must be registered in the investor’s name and debt-free

Residency Benefits:

• Renewable 5-year temporary residence permit (TRP)
• Full Schengen access
• Pathway to permanent residency and eventual naturalisation

Path to Citizenship:

• Available after 10 years of legal residence
• Must have resided in Latvia full-time for at least the final 5 years
• Requires Latvian language test and demonstration of integration

Pros:

• Low property price threshold compared to most of the EU
• Transparent and efficient application process
• Stable rental yields in key urban areas like Riga and Jurmala

Cons:

• Latvian language requirements for citizenship are high
• Investor must reside in-country to qualify for long-term settlement or citizenship
• Fewer lifestyle perks than southern Europe (climate, healthcare, etc.)

Compliance Note:
The Latvian Golden Visa is a temporary residency route—not a direct citizenship-by-investment programme. It should be approached as a medium-to-long-term mobility and property diversification solution.

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3. Malta – EU Residency with Potential Citizenship by Naturalisation

Minimum Investment:
Under the Malta Permanent Residence Programme (MPRP):

• Purchase property worth €300,000 (South Malta/Gozo) or €350,000 (rest of Malta)
• Alternatively, rent a property for a minimum of €10,000–€12,000 per year, depending on location
• Pay a one-time government contribution of €28,000–€58,000 depending on ownership

Residency Benefits:

• Lifetime permanent residence in Malta
• Schengen access (90/180 rule)
• No physical stay required to maintain PR

Citizenship Pathway:

• Separate route: Citizenship by Naturalisation for Exceptional Services by Direct Investment (CES)
• Requires €600,000–€750,000 contribution, plus €700,000 property purchase or €16,000 annual lease, and 12–36 months of residency
• Rigorous due diligence and investment scrutiny

Pros:

• Lifetime residence in a politically stable, English-speaking EU country
• Clear path to citizenship under CES route
• Attractive tax environment for wealth and succession planning

Cons:

• CES citizenship route is costly and heavily scrutinised
• Programme is subject to EU-level regulatory pressure

Compliance Note:
Applications for both the MPRP and CES programmes must be submitted via licensed agents approved by the Malta Residency and Visa Agency (MRVA). All applicants are subject to strict due diligence and may be declined without appeal.

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4. Turkey – Gateway Between Europe and Asia with Citizenship Directly via Property

Minimum Investment:

• $400,000 (USD) in Turkish real estate
• Must be held for 3 years minimum
• Property must be approved for citizenship and valued by independent assessors

Residency and Citizenship Benefits:

• Direct citizenship granted in ~6–9 months
• No minimum stay required
• Spouse and children under 18 included
• Dual citizenship allowed

Pros:

• Fast-track to citizenship with minimal bureaucracy
• Turkish passport allows visa-free or visa-on-arrival access to over 110 countries
• Future potential access to E-2 U.S. Visa via Turkey–U.S. treaty

Cons:

• Turkish lira volatility and political risk
• Property market may be difficult to exit at a profit
• Not an EU country (no Schengen access)

Compliance Note:
Investors must use registered lawyers and purchase property from licensed developers. The property must not have been previously used for another investor’s citizenship application. All real estate must be recorded in Turkey’s central land registry system and verified via official valuation.

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⚖️ Legal and Compliance Disclaimers

Blacktower is a professional intermediary and does not provide immigration, legal, or investment advice directly. All applications must be submitted through a government-licensed lawyer or authorised investment migration agent in the respective jurisdiction.

Investment migration programmes are subject to change based on political, legal, or economic developments. All applicants are subject to stringent due diligence, and no approval is guaranteed. We strongly recommend legal and tax review before making any financial commitment.

Residency or citizenship through investment may require ongoing compliance with local tax, language, and physical presence requirements. Always consult a regulated professional in your country of residence before proceeding.

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🧭 Final Thoughts: A Window of Opportunity

With increased scrutiny from Brussels and growing political resistance to investment-based migration schemes, these four programmes may not remain available in their current form indefinitely. For globally mobile investors, retirees, or entrepreneurs seeking second citizenship or EU access, time is of the essence.

Greece, Spain, Malta, and Turkey offer distinctly different routes depending on your goals—whether that’s passive European residency, lifetime Schengen access, or full second citizenship. Each comes with its own pros, compliance rules, and legal obligations.

Need help navigating your options? Our trusted network of licensed professionals can connect you with the right legal, financial, and property experts for your Golden Visa journey.