Europe Golden Visa: The Closing Door

Europe was once the most popular backyard for global High-Net-Worth Individuals (HNWIs). By simply investing €500,000 in real estate, one could easily obtain a "Golden Visa" with access to 27 Schengen countries. However, starting from 2023, squeezed by internal EU pressure and local housing crises, this shortcut is rapidly being blocked.

Portugal and Ireland: The End of the Real Estate Era

Ireland suddenly announced the closure of its Immigrant Investor Programme (IIP) in 2023, and Portugal officially ended its decade-long "Green Card through Property Purchase" policy. This means the low-threshold path of exchanging real estate for identity has become history in Western Europe.

Greece and Spain: Unprecedented Surges in Thresholds

• Greece: As a highly cost-effective property immigration pathway, the investment threshold in its core areas (Athens, Thessaloniki, etc.) has doubled from €250,000 to €500,000, and it will face stricter Source of Funds (SOF) scrutiny in 2026.
• Spain: Prime Minister Pedro Sánchez has explicitly stated the intention to abolish the property purchase option in the "Golden Visa." Although the formal bill is still being debated in parliament, the closure of this channel is only a matter of time.

The Breakthrough in 2026: Compliant Funds and Innovative Visas

When "Real Estate Immigration" is sentenced to death, what choices are left?

• Portugal €500,000 Fund: Although you cannot buy a house, investing in compliant private equity funds strictly regulated by the Portuguese Securities Market Commission (CMVM) can still maintain the ultra-low Physical Presence Requirement of only 7 days a year.
• Spain Non-Lucrative Visa (NLV): If there is no need to work locally, one can obtain Spanish residency at a low cost solely relying on stable passive income (such as rent or dividends).
• UK Innovator Founder Visa: Some countries are vigorously introducing tech and innovative talents. As long as the business model is recognized by local endorsing bodies, it can be approved extremely quickly.

Expert Advice: The European Commission has repeatedly warned member states to tighten "Citizenship/Residency by Investment" schemes. The cost of taking a wait-and-see approach is extremely high, and the existing policy dividend period may completely disappear within the next 12-18 months.