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Geopolitical concerns, increasing costs and changing laws in several countries across the world has led to many people considering a move to other destinations, especially European ones.
Rising house prices are another concern driving this trend. With the average UK house now setting buyers back by around £301,000 (€347,776), many residents are seeking something that offers more value for that price.
However, obtaining long-term visas and residency in most EU countries can still be an expensive, time-consuming and complicated process.
For several years, golden visas have been a pathway to EU residency, especially for wealthy people. These essentially allowed people to “buy” the right to residency, often through significant investments in a country’s real estate. In some cases, people did not even have to live in a country to acquire residency.
However, recent changes, such as the closure of the Spanish golden visa through property investment route in 2025, have made it more difficult to obtain these prized golden visas lately.
“In 2026, we are seeing a shift in why families seek a golden visa,” said Nikolas Avgousti, associate at Philippou Law in Cyprus.
“It’s no longer just a ‘holiday home’ dream; it’s about having options and freedom. Following years of global volatility, a secondary residency has become the ultimate insurance policy.”
So where can you still get a relatively affordable European golden visa? Here we take a look at the countries that offer golden visas for less than the average price of a house in the UK.
Hungary
Hungary has seen a surge in popularity for its golden visa in recent years. Its Guest Investor Program (GIP) has a minimum investment threshold of €250,000 for non EU/EEA citizens, which grants a 10-year residency, which can be renewed for another 10 years.
This visa covers the investor’s spouse and children as well. There is also no minimum stay required to maintain Hungary’s golden visa, making it a flexible backup option for people intending to mainly live elsewhere.
However, investors wanting to apply for permanent residency can do so after holding the golden visa for three years, provided they have lived in Hungary for at least 183 days per year and maintained their investment, a registered address, health insurance and lawful income.
After eight years of continuous residence, investors can apply for citizenship.
The €250,000 should be invested in investment units of a Hungarian National Bank-registered real estate fund. This fund should be investing at least 40% of its value in Hungarian residential real estate.
Another option is donating at least €1 million to a public trust supporting higher education. This donation would be non-refundable.
With Hungary’s current cost of living approximately 40% lower than the UK, according to a ranking by Philippou Law, it remains an attractive option for long-term residency.
Greece
Another prime European location for a golden visa is Greece, offering a cost of living around 30% cheaper than the UK, along with sunny weather for most of the year.
While the majority of Greek golden visas have become significantly more expensive, ranging between €400,000 and €800,000, especially for popular areas like Athens and Santorini, a couple of paths only need a minimum investment of €250,000. Both of these allow for five years of residency before renewal.
The first route is for investors who want to restore historic, listed or preservation buildings. For this pathway, investors need to fully reconstruct or restore the building. This must be completed before the golden visa can be renewed at the five-year mark.
Another pathway is to convert commercial property like industrial spaces and offices into residential property. For this, investors must use the €250,000 investment to convert a single property, with the conversion fully completed before the submission of the first golden visa application.
The property should also be legally registered as residential before the application.
There are no minimum size or location restrictions for both these pathways, however, restored or converted properties cannot be used for Airbnbs or other short-term rentals.
There are no minimum stay requirements either, with the visa covering the main investor as well their spouse and children aged up to 21.
Investors can apply for Greek citizenship after seven years of continuous legal residence, provided that they are a tax resident as well, and their investment is maintained throughout.
Cyprus
Cyprus has been another top choice for a European golden visa in recent years, especially for its common law system and transparent Land Registry. Its cost of living is also around 25% cheaper than in the UK.
“While some neighbours offer lower entry points on paper, the ‘hidden cost’ of bureaucracy, such as lack of clear land registries or shifting tax laws, can turn a dream move into a legal headache,” Avgousti highlighted.
The Cyprus golden visa or Permanent Residence Program allows non-EU citizens to invest at least €300,000 in return for permanent residency. This investment can be made in real estate, investment funds or company shares.
This residence permit covers spouses and financially dependent children up to 25 years old. However, investors must visit Cyprus once every two years at the minimum. After seven years of residency, investors can apply for citizenship.
Some of the main requirements include maintaining a clean criminal record and a foreign income of more than €50,000 annually. For investors with a spouse and children, this foreign income threshold is increased by €15,000 for a spouse and €10,000 per child.
“In Cyprus, the British influence remains a massive advantage: we operate under common law, which provides a level of property security and transparency that is rare in the Mediterranean,” Avgousti noted.
“When you combine that legal safety with 3,400 hours of sun and a non-dom tax regime that essentially pays for your lifestyle through savings, the choice becomes clear.”
Italy
Italy has become another popular country for golden visas, offering four distinct pathways. Along with a cost of living around 15% cheaper than in the UK, the country also offers incredible history, culture, scenery and gastronomy.
The Italian golden visa or Investor Visa requires non-EU citizens to invest a minimum of €250,000 in an Italian innovative startup.
This offers a two-year renewable residency without any minimum stay requirements, with investors able to apply for permanent residency after five years of continuous legal residence and citizenship after 10 years of the same.
The visa covers spouses, dependent children and dependent parents as well.
However, a pre-approval process is required before any capital is committed.
Other golden visa pathways include a €500,000 investment in an Italian limited liability company, a €1 million investment in public interest projects across culture, immigration, education or research, or a €2 million investment in Italian government bonds.
Portugal
While Portugal removed direct investment in real estate as a golden visa pathway back in 2023 to reduce property speculation, there are still several other routes available.
With walkable cities, stunning coastlines and more than 300 sunny days on average per year, Portugal has been another strong contender for golden visas for years.
The most affordable golden visa route allows non-EU citizens to make a minimum investment or donation of €250,000 to arts and cultural projects dedicated to the recovery, production or maintenance of national cultural heritage. In low-density areas, this donation can go down to €200,000.
This golden visa is valid for five years and requires an average stay of only one week per year in the country. It covers spouses, dependent children and dependent partners.
However, investors need to have a legal representative in Portugal for the application.
Investors can apply for permanent residency or citizenship after five years of continuous legal residence, provided they maintain their investment and meet language requirements.
Other golden visa pathways include a €500,000 investment in qualified funds, investment firms or research and development.
What to keep in mind before applying for a golden visa in 2026
While golden visas may seem very tempting, there are a few key things to keep in mind before applying for one.
One of the biggest considerations is ensuring that your investment is “grandfathered in” and your residency rights protected, even if entry requirements for new golden visa applicants in your country change down the line.
This is especially important as both EU regulations and golden visa programmes around the world have been undergoing significant changes in the last few years.
Another key factor to be mindful of is that the minimum investment figure is never the final price, as stamp duties, legal due diligence and mandatory private health insurance costs need to be considered and planned for as well.
Similarly, knowing the difference between being a legal resident, i.e, holding a golden visa or residence permit, and being a tax resident is key. While some golden visas may only require a few days in the country to maintain them, longer stays can mean global tax obligations.
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