European Residency by Investment: Greece, Portugal, Hungary and Latvia Compared
As reviewed on 14 June 2026, Greece, Portugal, Hungary and Latvia retain distinct investor-residence pathways, but they are not interchangeable “European Golden Visas.” Greece remains strongly propert
As reviewed on 14 June 2026, Greece, Portugal, Hungary and Latvia retain distinct investor-residence pathways, but they are not interchangeable “European Golden Visas.” Greece remains strongly property-based, Portugal's ARI excludes the former direct property route, Hungary uses guest-investor options, and Latvia links residence to specified investment categories. Compare official route status, stay, renewal, family and exit conditions before choosing.
Important: These programmes change frequently. Obtain a current official quotation and regulated country advice before transferring funds.
What does this comparison cover?
This page compares:
- current programme status;
- qualifying investment structure;
- residence duration and renewal;
- physical-presence expectations;
- family inclusion;
- Schengen mobility;
- long-term residence or naturalisation potential; and
- investment exit risk.
It does not treat residence as citizenship. Start with residency versus citizenship by investment.
Which programmes are currently available?
| Country | Programme position reviewed 14 June 2026 | Primary route character |
|---|---|---|
| Greece | Investor permanent-residence route remains active | Qualifying property and other legally specified routes |
| Portugal | ARI remains active under revised qualifying investments | Funds, research, culture and business/job routes; direct property route removed |
| Hungary | Guest Investor Programme active | Approved investment-fund units or public-benefit donation under current rules |
| Latvia | Investor-linked temporary residence routes remain available | Real estate, company or other statutory investment categories |
Official portals can lag legislative amendments. The applicant should verify the exact law and application service on the filing date.
How do the investment routes differ?
Greece
Greece's official Ministry of Migration page describes a permanent residence permit for investors and requires transaction, insurance, passport and property evidence for the property route. Geographic and property-use rules affect the applicable threshold (Greek Ministry of Migration).
Portugal
Portugal's Residence Permit for Investment Activity, or ARI, continues through qualifying non-property routes. Investment structure, regulated fund eligibility and job or cultural conditions require current legal review.
Hungary
Hungary's Guest Investor residence focuses on qualifying investment certificates and a public-benefit higher-education donation under current rules. Product approval, custody and holding obligations must be verified before subscription.
Latvia
Latvia's immigration law provides specified investment bases, including qualifying property or company-related routes. Valuation, geographic, tax-payment and company conditions can affect eligibility.
How do stay, renewal and family rules compare?
| Decision factor | Greece | Portugal | Hungary | Latvia |
|---|---|---|---|---|
| Status structure | Investor permanent residence permit | Renewable ARI residence permit | Long-duration guest-investor permit | Temporary residence permit |
| Stay to retain | Limited, route-specific | Low minimum presence under ARI rules | Confirm current permit conditions | Confirm annual and renewal conditions |
| Family | Eligible family can be included under defined rules | Family reunification available | Family reunification under applicable rules | Family inclusion under immigration rules |
| Renewal dependency | Qualifying investment/property retained | Qualifying investment and permit conditions | Investment maintained | Investment and statutory conditions maintained |
“Permanent residence permit” in a programme title does not mean citizenship or unrestricted EU-wide settlement rights.
What mobility and long-term status can the permits support?
A valid residence permit from a Schengen state can support short travel within the Schengen area under applicable rules. It does not grant the right to work or settle freely in every EU country.
Long-term residence and naturalisation require separate analysis. Physical presence, language, integration and lawful residence can be materially stricter than investor-permit retention.
What are the main investment and exit risks?
- legal changes between reservation and application;
- non-qualifying fund or property;
- developer, manager or counterparty failure;
- restricted resale or mandatory holding period;
- taxes, fees and maintenance costs;
- currency and valuation risk;
- renewal failure after early disposal;
- naturalisation assumptions based on minimal stay; and
- weak source-of-funds evidence.
For funds and property, conduct regulated legal, financial and commercial due diligence separately from immigration eligibility.
Which programme fits common applicant scenarios?
| Scenario | Programme characteristics to prioritise |
|---|---|
| Applicant wants tangible property | Assess Greece or Latvia under current property conditions |
| Applicant avoids direct property | Assess Portugal or Hungary's qualifying non-property routes |
| Family may relocate later | Compare schooling, work rights, healthcare and reunification |
| Citizenship is the long-term goal | Select based on realistic physical presence, not permit minimum |
| Applicant wants low administration | Compare renewal frequency, reporting and investment management |
| Wealth comes through complex company structures | Complete enhanced source-of-funds review first |
European programme-comparison checklist
- Verify programme is open on the intended filing date.
- Obtain official investment criteria.
- Confirm applicant nationality eligibility.
- Calculate total family and holding cost.
- Review residence-retention stay.
- Review naturalisation stay separately.
- Confirm family definitions.
- Conduct asset/fund due diligence.
- Model taxes and exit.
- Prepare lawful source-of-funds evidence.
Frequently Asked Questions
Does Portugal still offer a property Golden Visa?
The former direct real-estate ARI route was removed. Current ARI eligibility should be assessed under the remaining official investment categories.
Does European investor residence grant EU citizenship?
No. Citizenship requires a separate national naturalisation process.
Which programme is cheapest?
That cannot be answered responsibly from a headline threshold. Total cost depends on family, route, fees, taxes, holding costs and exit value.
How Capitals28 Can Help
Capitals28 can prepare a date-stamped country comparison and coordinate evidence readiness within its stated scope. Country-specific legal, investment and tax advice should come from appropriately regulated professionals.
