Want a second passport with your property purchase? The “Golden Visa” landscape has shifted in 2026. Here is your essential guide to buying real estate for citizenship or residency.
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I was recently having coffee with a client who made a fortune in SaaS. He looked tired. “I don’t just want a vacation home in Europe,” he told me. “I want a Plan B. I want a passport.” He isn’t alone. In the last five years, the concept of the Golden Visa has moved from a niche loophole for the ultra-wealthy to a mainstream strategy for families, investors, and digital nomads.
But if you are reading this in 2026, I have some tough news: the game has changed. The days of blindly throwing €500,000 at a condo in Madrid or Lisbon and getting a residency card are largely over. Governments are tightening the screws. However, the door isn’t shut—it just requires a smarter key. Buying real estate for citizenship is still one of the most powerful leverage moves you can make, provided you know which countries are still playing ball.
What Exactly is a Golden Visa?
At its core, a Golden Visa is a residency-by-investment program. You inject capital into a country’s economy—usually through real estate—and in return, you get legal residency. In some nations, this residency can eventually convert into full citizenship, giving you that coveted second passport.
For many, it’s a lifestyle play. For others, it’s an insurance policy against geopolitical instability or aggressive tax regimes at home. But unlike buying a stock portfolio, a Golden Visa investment is tangible. You can touch it, live in it, or rent it out.
The 2026 Shake-Up: What You Need to Know
If you’ve been reading old articles from 2023, throw them out. The landscape has shifted dramatically.
- Portugal: The “easy mode” is gone. You can no longer buy residential homes to qualify. The program now focuses on investment funds and cultural donations.
- Spain: Sadly, Spain ended its real estate Golden Visa route in 2025 due to housing pressure in cities like Barcelona and Madrid.
- The “Price Hike”: Countries that still offer these visas have raised their entry prices. They want serious investors, not just people looking for a cheap holiday home.
Where Can You Still Buy Property for a Visa?
Despite the closures, there are still prime markets where your money can buy both an asset and a future.
1. Greece: The “Smart” Renovation Play
Greece is the last bastion of the classic European Golden Visa, but with a twist. As of this year, the minimum investment in hotspots like Athens, Mykonos, and Santorini has jumped to €800,000. Ouch.
However, there is a loophole for the savvy investor: the €250,000 threshold still exists for properties that need “restoration” or are converted from commercial to residential use. I’ve seen investors snap up old office spaces in Athens, convert them into boutique apartments, and secure their Golden Visa while creating massive equity.
2. The United Arab Emirates (UAE): The Golden Standard
Dubai isn’t just for influencers; it’s a safe haven. The UAE’s Golden Visa (usually a 10-year residency) is available if you buy property worth AED 2 million (approx. $545,000). Unlike Europe, there is zero income tax here. The rental yields in Dubai are also some of the highest in the world, often sitting between 6-8%. It’s a pure “cash flow + residency” play.
3. Turkey: Citizenship on the Fast Track
Turkey is unique because it offers a direct path to citizenship, not just residency, often in under six months. The entry point is $400,000 in real estate. While the Lira is volatile, pricing your asset in USD or Euro can hedge that risk. Istanbul remains a massive rental market with zero vacancy issues in prime areas.
4. The Caribbean: The “Passport” Purchase
If your goal is strictly a travel document, look at the Caribbean. Nations like St. Kitts & Nevis or Antigua & Barbuda allow you to buy into approved luxury resorts (starting around $300,000 – $400,000). You likely won’t live there full-time, but the passport gives you visa-free access to the UK and EU Schengen zone.
The Investment Reality: Yield vs. Utility
When pursuing a Golden Visa, you have to decide what matters more: the return on capital or the return of freedom.
Often, “visa-eligible” projects come with a premium. Developers know you need the visa, so they mark up the price by 10-20%. This is the “passport tax.” To avoid this, look for resale properties in the secondary market (where allowed) rather than shiny new off-plan developments marketed exclusively to foreigners.
Pro Tip: Always calculate your “net cost.” If a Greek villa costs €500,000 but generates €25,000 in annual Airbnb income, your Golden Visa is effectively paying for itself over time.
Legal Pitfalls to Avoid
I cannot stress this enough: due diligence is everything. When you are buying property in a foreign legal system, things get messy.
- Title Deeds: In countries like Turkey or Cyprus, ensure the title deed is “clean” and ready for transfer before you send money.
- Retroactive Laws: Some countries change rules overnight. Ensure your lawyer adds a “grandfather clause” to your contract, protecting your application under the rules that existed when you signed.
- The “Exit Strategy”: Most Golden Visa programs require you to hold the property for 5-7 years. What is the resale market like? Don’t buy an asset you can’t sell later.
Why This Trend Isn’t Slowing Down
You might think higher interest rates would kill the Golden Visa market, but the opposite is happening. We live in a polarized world. People want options. They want to know that if things go south in their home country—whether it’s political unrest, a pandemic, or economic collapse—they have a key to a door somewhere else.
A Golden Visa is the ultimate diversification. It diversifies your wealth into hard assets and diversifies your life into new jurisdictions.
FAQ Section
1. Does a Golden Visa guarantee citizenship? No. Most Golden Visa programs start as temporary residency (e.g., 1-5 years). Citizenship usually requires you to hold that residency for a set period (often 5-10 years) and may require learning the local language, as is the case in Portugal and Greece.
2. Do I have to live in the country to keep the visa? It depends. Portugal historically only required about 7 days a year. The UAE does not require you to live there permanently, but you must visit every 6 months (though this rule is flexible for Golden Visa holders). However, if you want citizenship later, you often need to physically live there for most of the year.
3. Can I use a mortgage to buy a Golden Visa property? Generally, no. Governments want “fresh capital” entering the economy. You usually have to invest the minimum threshold (e.g., €250,000) in cash. You can get a mortgage for any amount above that minimum, but the base investment must be unencumbered equity.
4. Are these programs tax-free? Not always. Becoming a tax resident often depends on how many days you spend in the country (usually 183 days). However, just holding the Golden Visa or property doesn’t automatically make you a tax resident in places like Greece or Portugal, unless you move there full-time.
5. Which is the cheapest Golden Visa right now? For real estate options, some Caribbean nations and specific “fixer-upper” routes in Greece (at €250k) remain the most affordable entry points. Hungary’s new program is also competitive, though it’s technically a “guest investor” status.
Conclusion
The era of the “easy” Golden Visa is behind us, but the value of having one has never been higher. In 2026, securing a second residency through real estate is about precision. It’s about finding that sweet spot in Greece, capitalizing on the boom in Dubai, or securing a safety net in the Caribbean.
Don’t just buy a property; buy a future. If you navigate the legalities correctly and choose a market with strong fundamentals, a Golden Visa can be the best investment in your portfolio—the only one that comes with a new life attached.