Five European countries have raised or closed their investor routes since 2024. As a result, the list of residency by investment countries is shorter than most guides admit. Prices have climbed in almost every market.
Key takeaways
- Armenia has the lowest threshold on this list at AMD 2,000,000, with reforms expected to take effect on 1 November 2026.
- Georgia raised its property threshold to USD 150,000 on 1 March 2026, up from USD 100,000.
- No EU member state offers citizenship by investment in 2026, following the CJEU ruling of 29 April 2025.
- Portugal’s citizenship timeline moved to 10 years on 19 May 2026, though the Golden Visa itself is unchanged.
- Direct property purchase now survives mainly outside the EU — chiefly in Georgia, the UAE and Turkey.
This guide compares ten programmes that remain open in 2026. For each one, you will find the minimum investment, the route, the stay rules and what the permit leads to. We also flag the conditions that catch applicants out.
All figures were verified in September 2026 against primary legislation and official government sources, which are listed at the end. Rules in this field change often, so confirm current terms before committing capital.
Need Help Choosing a Residency Route? MB Legal can compare the requirements, investment thresholds and stay rules and guide you through the application process.
What residency by investment means
Residency by investment lets a foreign national obtain a residence permit through a qualifying investment. Common routes include real estate, investment funds, company capital and government donations. Most permits renew. Many countries offering residency by investment set little or no obligation to live there.
Citizenship by investment works differently. It grants a passport directly, usually within months. People searching for investment citizenship countries are often describing residency routes without realising it.
One point matters above all. No EU member state offers citizenship by investment in 2026. The Court of Justice of the European Union ruled against Malta’s scheme on 29 April 2025 in Case C-181/23. The Court found the scheme granted nationality without requiring genuine ties to the country.
Residency by investment countries compared
The table below summarises every programme in this guide. Two grant citizenship rather than residence by investment, and we have labelled them.
| Country | Minimum investment | Main route | Stay requirement | Leads to |
| Armenia | AMD 2,000,000 | Shares, securities or charter capital | Ongoing business activity | Temporary or permanent residence |
| Georgia | USD 150,000 | Real estate | None | Renewable permit; PR at USD 300,000 |
| Greece | €250,000–€800,000 | Real estate | None | 5-year renewable permit |
| Portugal | €500,000 | Investment fund | 7 days a year | PR after 5 years |
| UAE | AED 2,000,000 | Real estate | None | 10-year renewable permit |
| Hungary | €250,000 | Real estate fund | None | 10-year permit |
| Cyprus | €300,000 + VAT | New property | One visit per 2 years | Permanent residence |
| Latvia | €50,000 + €10,000 fee | Company equity | Varies | 5-year permit |
| Turkey (citizenship) | USD 400,000 | Real estate | None | Citizenship |
| Caribbean (citizenship) | USD 200,000 | Donation | Minimal | Citizenship |
Three patterns stand out across these residence by investment countries. First, thresholds keep rising. Second, direct property routes are closing across the EU. Third, the residency clock and the citizenship clock are now separate questions almost everywhere.
Armenia sits well below every other jurisdiction on cost. We start there.
Residency by Investment in Armenia
Armenia offers the newest framework on this list. The amended Law of the Republic of Armenia “On Foreigners” creates a residence route based on entrepreneurial activity. The amended provisions, together with a new unified electronic platform, are expected to enter into force on 1 November 2026.
Timing matters right now. The previous electronic platform for investment-based and business-based applications is unavailable. Appointments cannot be reserved through the old system. Until the new platform launches, the procedure remains subject to transitional arrangements. Anyone setting up a business specifically for residence purposes should plan the timing carefully.
Four ways to qualify
- Investment, without registering a business. An applicant may acquire shares or securities worth at least AMD 2,000,000. Qualifying investments include publicly traded companies and investment funds. No Armenian LLC and no Individual Entrepreneur registration is needed. Ownership and value must be documented and verifiable through financial, corporate or state records. Our capital markets and investment funds team advises on this route.
- Armenian LLC. An applicant may establish or join an Armenian commercial organisation. The minimum investment into charter capital is AMD 2,000,000. This suits entrepreneurs who intend to trade actively, sign contracts or hire staff. See our guide to registering a company in Armenia.
- Individual Entrepreneur. An applicant may qualify by registering as an Individual Entrepreneur. The IE must hold at least AMD 1,000,000, or the foreign-currency equivalent, across their accounts. This suits consultants, independent professionals and service providers.
- Business turnover. An applicant may qualify by generating at least AMD 1,000,000, or the equivalent, in turnover during the 60 days before the application. Banking, accounting and tax records must support the figure.
Temporary or permanent residence
Entrepreneurial activity can support either status. The law does not limit this route to temporary residence.
However, meeting a threshold does not guarantee approval. Each residence type carries its own procedure and documentation, set by the Government of Armenia. Requirements should be assessed at the time of application. We cover the full journey in our guide to permanent residency in Armenia for investors.
Registering a company is not enough
This is the biggest misunderstanding about Armenia. Company registration alone does not entitle anyone to residence status. The applicant must satisfy one of the qualifying criteria above.
Consequently, corporate structure, banking arrangements, investment and actual business activity should all be organised before the application goes in.
Keeping the status once you have it
Approval is not the end of the process. Status obtained through entrepreneurial activity may cease to be valid where:
- The capital invested in the Armenian company is withdrawn
- That capital falls below AMD 1,000,000
- The value of the relevant shares or securities falls below AMD 1,000,000
- No tax information from the activity appears in the State Revenue Committee database within 180 days of obtaining the status
In short, the activity must be genuine and continuing.
Moving your investment between companies
The law allows restructuring. Status remains valid where the applicant holds an equivalent investment in another Armenian company at the time of withdrawal. It also remains valid where the capital is reinvested into another Armenian company’s charter capital within one month. That one-month window is tight. Plan any restructuring around it.
MB Legal handles the full process, from route selection through broker coordination, banking and the residence application. Learn more on our Armenian residency by investment page.
Residency by Investment in Georgia
Georgia raised its property threshold on 1 March 2026. Applicants now need real estate worth at least USD 150,000. The previous figure was USD 100,000, unchanged since 2019. The change followed amendments passed in June 2025.
Investment options
- USD 150,000 in non-agricultural property, for a renewable one-year permit
- USD 300,000 in real estate or a Georgian business, for an investment residence permit
What you get
The property permit renews annually. Spouses and minor children join the same application. Georgia sets no minimum stay and no language test. The USD 300,000 route offers a longer permit and a clearer path to permanent residence.
How valuation works
The threshold applies to market value, not purchase price. An accredited appraiser must confirm that value. Since March 2026, the appraiser must hold accreditation from the Unified National Accreditation Body. Several properties may be combined to reach the total.
The point most guides miss
Ownership must be formalised before you apply. Off-plan buyers often discover this too late. A contract alone does not start the clock. Therefore, check the delivery schedule before you sign.
Our Georgia office advises on this route directly.
Residency by Investment in Greece
Greece runs a three-tier property system. Since the 2024 reform, price depends entirely on location.
Investment options
- €800,000 in Attica, Thessaloniki, Mykonos, Santorini and islands above 3,100 residents
- €400,000 everywhere else in Greece
- €250,000 for commercial-to-residential conversions and listed-building restorations
- €250,000 in an innovative startup registered with Elevate Greece
Key conditions
The permit runs five years and renews. Greece requires no minimum stay, and family members are included.
The two upper tiers carry extra rules. The property must measure at least 120 square metres. The investment must sit in a single property, not a portfolio.
The point most guides miss
Short-term letting is banned on qualifying property. Airbnb and similar platforms are off limits. The fine reaches €50,000, and authorities may revoke the permit. Long-term letting remains allowed, and most investors use it for yield.
Residency by Investment in Portugal
Portugal removed its real estate route in 2023. The Golden Visa itself remains open.
Investment options
- €500,000 into a qualifying investment fund
- €250,000 through the cultural donation route, or €200,000 in low-density areas
The permit requires only seven days a year in Portugal. Permanent residence becomes available after five years of legal residence.
The change that matters most
Portugal reformed its nationality law in 2026. Lei Orgânica n.º 1/2026 entered into force on 19 May 2026. Naturalisation now requires ten years of legal residence for most nationals. EU and CPLP nationals need seven. The clock starts from issuance of the first residence card.
Applications filed on or before 18 May 2026 continue under the previous rules. Importantly, the Golden Visa programme itself did not change. Only the citizenship timeline did.
The point most guides miss
Residency and citizenship are now separate questions in Portugal. Permanent residence after five years still stands. A passport, however, sits much further away.
Residency by Investment in the UAE
The UAE grants long-term residence to property investors. The Dubai Land Department states that an investor owning property valued at AED 2 million or more at purchase may apply for a ten-year renewable permit. That equals roughly USD 545,000.
What you get
No employer and no local sponsor are required. Holders may sponsor a spouse, children and parents. There is no minimum stay obligation.
What changed in 2026
A federal circular in February 2026 removed the old 50% down-payment rule. Mortgaged and off-plan property now qualify. The test is certified value, not the amount already paid. For mortgaged property, the Dubai Land Department requires a bank letter confirming AED 2 million paid.
The point most guides miss
Permit length can vary. The federal government portal lists the real estate investor category at five years. The Dubai Land Department issues ten years on the property route. Confirm the term with the issuing authority for your specific property and emirate.
Residency by Investment in Hungary
Hungary launched its Guest Investor Programme in July 2024, under Act XC of 2023.
Investment options
- €250,000 into a real estate fund authorised by the National Bank of Hungary, held at least five years
- €1,000,000 donated to a higher-education public-interest trust
The permit runs ten years and renews once. Hungary sets no physical presence requirement. Applicants also receive approval before transferring capital, which reduces risk.
The point most guides miss
Direct property purchase does not qualify. The €500,000 direct route was abolished on 15 January 2025. Additionally, the pre-2017 bond programme has not returned. Treat any offer of “Hungarian residency bonds” as outdated.
Residency by Investment in Cyprus
Cyprus grants permanent residence rather than a temporary permit. The fast-track route operates under Regulation 6(2) of the Aliens and Immigration Regulations (Cap. 105), administered by the Civil Registry and Migration Department.
Requirements
- €300,000 plus VAT in a first-sale residential property from a development company, or in other qualifying real estate, a Cyprus company, or units in a Cyprus investment organisation
- Secured annual income of €50,000, plus €15,000 for a spouse and €10,000 per dependent minor child
- Clean criminal record
Holders must visit Cyprus at least once every two years. Note that resale property does not qualify under the residential category. Cyprus is also not currently a Schengen member, which surprises many applicants.
Residency by Investment in Latvia
Latvia offers the lowest entry price in the EU. Nevertheless, cheapest rarely means best.
- €50,000 into the equity of a Latvian company, plus a €10,000 state contribution
- €250,000 in real estate
- €280,000 in a subordinated deposit with a Latvian bank
The permit runs five years. Permanent residence follows after five years, subject to a Latvian language requirement.
Countries citizenship by investment: Turkey and the Caribbean
Two options here grant citizenship rather than residency. Treat them separately from the countries citizenship by investment framing used elsewhere online, because the legal outcome is fundamentally different.
Turkey
Among investment for citizenship countries, Turkey is the largest by volume. It requires USD 400,000 in real estate on a single contract. Alternatively, investors may place USD 500,000 through capital transfer, a bank deposit, government bonds, funds or a private pension. Property must be held for three years.
The Caribbean
Five countries with investment citizenship operate in the Eastern Caribbean. Since 1 July 2024, an OECS Memorandum of Agreement has set a USD 200,000 minimum across all of them.
- Dominica — USD 200,000
- Antigua and Barbuda — USD 230,000
- Grenada — USD 235,000
- St Lucia — USD 240,000
- St Kitts and Nevis — USD 250,000
Best countries for citizenship by investment
There is no single best answer. The best countries for citizenship by investment depend on family size, processing speed and mobility needs. Grenada holds a US E-2 treaty. Antigua bundles a family of four at one price. Compare against your own goals rather than a published ranking.
Countries where you can buy a property and get residency
Among countries where you can buy property and get residency, direct purchase still works in six jurisdictions above: Georgia, Greece, Cyprus, Latvia, the UAE and Turkey.
Three markets have closed that door:
- Portugal removed real estate from its Golden Visa in 2023
- Hungary abolished its direct property route on 15 January 2025
- Spain closed its investor programme entirely on 3 April 2025
Buying property does not automatically produce a permit. Each country adds conditions on value, location, property type and use. Confirm eligibility before making an offer.
How to choose between residency by investment countries
Work through these six steps in order.
- Define the goal. Mobility, tax residence, relocation and a business base lead to different answers.
- Test the stay rule against real life. A seven-day obligation suits some families and not others.
- Separate the two clocks. The residency timeline and the citizenship timeline are different questions.
- Assess stability. Rules have changed in most markets within the last two years.
- Run tax analysis first. Residency status and tax residency are not the same thing.
- Budget beyond the headline. Government fees, due diligence and legal costs add up.
Frequently asked questions
Which country has the cheapest residency by investment?
Armenia has the lowest threshold on this list at AMD 2,000,000 in shares, securities or charter capital. Within the EU, Latvia starts at €50,000 in company equity plus a €10,000 state contribution. Lower cost usually means different benefits, so compare carefully.
Can I still get EU citizenship by investment?
No. No EU member state offers citizenship by investment in 2026. The Court of Justice of the European Union ruled against Malta’s scheme on 29 April 2025. EU citizenship now requires residence and naturalisation.
Which countries where you can buy property and get residency are still open?
Georgia, Greece, Cyprus, Latvia and the UAE grant residency through direct property purchase. Turkey grants citizenship through property. Portugal, Hungary and Spain have all closed their property routes.
Is registering a company in Armenia enough to get residency?
No. Company registration alone does not entitle a foreign national to residence status. The applicant must also meet a qualifying condition, such as AMD 2,000,000 in charter capital, qualifying shares or securities, Individual Entrepreneur funds, or qualifying business turnover.
What are the best countries for citizenship by investment in 2026?
It depends entirely on your goals. Dominica is the lowest-cost single-applicant option at USD 200,000. Antigua offers the strongest family value. Grenada is the only Caribbean programme with a US E-2 treaty. Turkey suits investors who prefer real estate to a donation.
MB Legal advises investors and families from offices in Yerevan and Tbilisi. Our lawyers handle immigration, corporate, tax and investment matters together.
