You’ve already decided you want a second base. The capital is there, your family is on board, and yet the decision is still stuck in neutral? Lack of money isn't the problem. It’s the suspicion—almost always correct—that the rules from six months ago no longer apply.
And that suspicion is justified. In June 2026, the European Commission requested that the five countries phase out these programs by June 1, 2028, under threat of suspending visa-free access to the Schengen Area.
With all these changes, this guide was created to organize the main active routes and help you decide where it is truly worth investing in your specific case. For each country, you will find the current status, the entry threshold, who qualifies, the official source, and the date we last verified the information. While you decide where to go, we take care of keeping the path valid until the end.
Before the price tag: the three questions that define your choice
Comparing programs solely by entry threshold is the most expensive mistake in the industry. Here, we’ve broken down three important questions to ask yourself when choosing, so you can make a more informed decision.
How much time do you have? Portugal paves the way to European citizenship, but the wait time is currently over two years. Paraguay and Panama can be resolved in weeks, though without a European passport at the end.
How many days can you spend abroad? Italy, Hungary, and Greece do not require physical presence. Uruguay and Colombia require actual residency.
Where do you want to declare and pay taxes? Obtaining residency does not force you to change your tax residency. Changing your tax home requires its own specific steps.
With these three answers, the overview below becomes your decision map.
Overview: active routes in 2026
Portugal. Golden Visa (ARI), via funds, culture, research, or job creation. Entry threshold from €250,000 to €500,000. Grants residency, with the possibility of applying for citizenship after seven years of legal residency for Brazilians and other nationals of Portuguese-speaking countries, provided all other requirements are met. Requires seven days of presence per year.
Greece. Golden Visa, based on property value by zone or financial investments. Entry from €250,000 to €800,000. Grants five-year residency. No physical presence required.
Italy. Startup, business, donation, or government bonds. Entry from €250,000 to €2 million. Grants two-year renewable residency. No physical presence required.
Hungary. Real estate fund shares or donation to an educational institution. Entry of €250,000 or €1 million. Grants ten-year authorization. No physical presence required.
Malta. Government contribution, housing, donation, and fees. Approximately €114,000 in the first year. Grants immediate permanent residency. No physical presence required.
Caribbean, five countries. Contribution to a national fund. Entry from US$200,000 to US$250,000, plus fees. Grants direct citizenship. Minimal or no physical presence required.
Paraguay. Investor Pass, via business, tourism, property, or investments. Entry from US$70,000 to US$200,000. Grants direct permanent residency. Flexible presence.
Panama. Qualified Investor Visa, via real estate, securities, or deposit. Entry from US$ 300,000 to US$ 750,000. Grants immediate permanent residency. One visit every two years required.
Costa Rica. Investor Category, with a wide range of accepted investments. Entry from US$ 150,000. Becomes permanent in three years. Very low physical presence required.
Colombia. M Investor Visa, via real estate or corporate equity. Entry of approximately US$ 160,000. Grants residency for up to three years. High physical presence required.
Uruguay. Real estate or innovation fund. Entry of approximately US$ 100,000 per year, or US$ 2 million. Grants eleven years of tax exemption on foreign income. Requires 183 days per year.
Brazil. Residency by real estate investment, with an entry of R$ 700,000 in the North and Northeast regions and R$ 1 million in other regions. Grants four-year residency, with the possibility of conversion to permanent status. Requires 14 days of stay every two years.
United States, EB-5. Investment in a new business that creates jobs. Entry of US$ 800,000 or US$ 1.05 million. Grants a conditional green card. Requires actual residency.
United States, Gold Card. Non-refundable contribution. Entry of US$ 1 million or US$ 2 million. Grants a green card via EB-1 or EB-2 pathways. Requires actual residency.
Found the ones that make the most sense for you? Then, head over to the country you're interested in to better understand how it works and what the requirements are.
Europe: Golden Visas that are still open
Portugal
The route. The program the market calls the Golden Visa is officially known as ARI, or residence authorization for investment. Options include regulated funds, scientific research, support for cultural heritage, or starting a company that creates ten jobs. Real estate was removed from the list in 2023. It requires a minimum stay of seven days per year.
What changed, and what almost no one tells you. As of May 19, 2026, Brazilians need seven years of residency to apply for citizenship, rather than five. The new law also requires exams on language, culture, history, and symbols, a declaration of adherence to the rule of law, and proof of financial self-sufficiency. Those who applied before this date remain under the old rules.
Before you decide. Approximately 29,000 investors and their family members were among the cases pending regularization.
Minimum stay. Portugal requires seven days per year, which is great. However, about 29,000 investors and their family members were among the pending cases as of August 2026.
Source. AIMA (aima.gov.pt) and Organic Law 1/2026, in the Diário da República. Accessed on 08/28/2026.
Greece
The route. The Greek Golden Visa is based on property values defined by zone: €800,000 in Attica, Thessaloniki, Mykonos, Santorini, and the larger islands. The requirement is €400,000 for the rest of the country, and €250,000 exclusively for converting commercial property into residential or restoring listed buildings. There are also financial pathways, ranging from €500,000 in government bonds to €800,000 in stocks.
The current situation. Active and with no minimum physical presence requirement, though with strict rules. The property must be at least 120 m² and a single unit, so combining two apartments is not permitted. Short-term rentals are prohibited for the property used to obtain residency.
Source. Greek Ministry of Migration and Asylum (migration.gov.gr), Law 5100/2024. Accessed on 08/28/2026.
Italy
The route. Four options: €250,000 in an innovative startup, €500,000 in an Italian company, €1 million in a philanthropic donation, and €2 million in government bonds.
The current situation. One of the most stable gateways in the European Union, offering two rare advantages. You only transfer the funds after approval, and there is no minimum stay requirement. The process begins with pre-approval from the Investors Committee; the timeline may vary depending on the case and documentation. The program has been suspended for Russian and Belarusian citizens since 2023.
Source. Italy Investor Visa Portal, from the Ministry of Enterprises and Made in Italy. Accessed on 08/28/2026.
Hungary
The route. €250,000 in shares of a real estate fund registered with the central bank, or a €1 million donation to a higher education institution. Direct real estate purchases ended in January 2025.
The current situation. A ten-year permit, renewable once for another ten years, with no minimum stay requirement, even upon renewal. On the other hand, the clock starts ticking immediately: once the visa is issued, you have three months to invest. The shares must be held for five years.
A little-known advantage. The permit allows for unrestricted work, and the same applies to family members.
Source. National Directorate-General for Aliens Policing of Hungary (oif.gov.hu), material updated in March 2026. Accessed on 08/28/2026.
Malta
The route. Four components: a €60,000 administrative fee, a €37,000 contribution, a €2,000 donation, and housing. For housing, you must either rent for at least €14,000 per year or purchase for €375,000.
Doing the math. Considering only the fees, contribution, and minimum rent, the primary applicant pays out approximately €113,000 in the first year. The program also requires proof of capital assets, in accordance with current requirements.
The current situation. It is the only European country that grants permanent residency from day one, and the only one that accepts four generations in a single application. Direct citizenship sales ended in April 2025, following a decision by the European court.
Source. Residency Malta Agency (residencymalta.gov.mt), official material from September 2025. Accessed on 08/28/2026.
Three lesser-known options that almost no one compares
Bulgaria grants immediate permanent residency starting from approximately €512,000 in regulated funds, with a 10% tax rate, and adopted the euro in January 2026. Latvia has the lowest entry point in the European Union, starting from approximately €50,000 in a small business. Cyprus requires approximately €300,000 in new property, plus annual income from abroad.
Spain: closed
The Spanish Golden Visa stopped accepting new applications in April 2025. Those who already held residency retain their status.
Caribbean
Five countries sell citizenship directly, without requiring residency. As of July 2024, a regional agreement set the minimum price at $200,000 for all of them.
• Dominica. A $200,000 contribution, which covers the main applicant. Government fees are separate, starting at $75,000.
• Antigua and Barbuda. A $230,000 contribution, which covers a family of up to four people.
• Grenada. A $235,000 contribution, which covers the main applicant and up to three dependents. It is the only one in the region with an E-2 treaty with the United States.
• Saint Lucia. A $240,000 contribution, which covers the main applicant and up to three dependents.
• Saint Kitts and Nevis. A $250,000 contribution. The oldest program in the world, with approval in four to six months.
What the headline hides. The fund amount is just the beginning. In Dominica, in addition to the $200,000, the government charges a $75,000 fee for a single applicant, or $100,000 for an applicant plus three dependents. Then add background checks, processing, and interviews. The total cost for a family of four can be well above the advertised price.
The current situation requires attention. In June 2026, the European Commission requested that the five governments terminate their programs by June 1, 2028. It is not an automatic ban, and visa-free access to the Schengen Area remains in effect. However, the European suspension mechanism has been tightened, and the mere existence of such a program now counts as grounds for reviewing the benefit.
Making the decision: A Caribbean passport offers real mobility today, but no one can say what it will offer in 2029. That is why those aiming for Europe often combine this passport with European residency.
Important dates: September and December 2026
The five countries must strengthen applicant vetting by September. The European Commission's report on Schengen Area access is due in December.
Fees and checks. In Dominica, a primary applicant pays a $75,000 fee in addition to the contribution. In Malta, fees total nearly €100,000 before any property investment.
Source. Citizenship by Investment units for each country. Confirmed in official documents: Dominica, 2024 CBIU materials; Grenada, SRO 15 of 2024. Accessed on 08/28/2026.
Latin America
Paraguay
The route. The Investor Pass, created in April 2026, has four categories. These include $70,000 in a productive company with five formal jobs and a business plan, $150,000 in tourism, $200,000 in income-generating real estate, and $200,000 in financial investments held for two years.
The current situation. This is the most significant update in the region. Previously, the standard path required two years of temporary residency. Now, permanent residency is granted directly. Taxation follows its own set of rules and must be analyzed separately from immigration residency.
Before you decide. The government requires a criminal background check, a sworn statement regarding the source of funds, and periodic monitoring of the investment.
Source. Ministry of Industry and Commerce of Paraguay, Resolution 0283/2026 (mic.gov.py and suace.gov.py). Accessed on 08/28/2026.
Panama
The path. US$ 300,000 in unencumbered real estate, US$ 500,000 in local stock exchange securities, or US$ 750,000 in a fixed-term deposit.
The deadline being circulated does not appear in the current legal text. Many advertisements claim that the real estate threshold will increase to US$ 500,000 in October 2026. The current wording sets the minimum sum at "from three hundred thousand dollars," with no ceiling and no expiration date, and the decree contains no sunset clause. The confusion stems from a temporary window created in 2020 that ended in October 2024, when the amount became permanent.
The current situation. Immediate permanent residency, with a visit required every two years. The investment must be maintained for the period required by applicable law. If the property is worth more than the minimum, the remainder may be financed locally.
Source. Executive Decree 193, of October 15, 2024, Official Gazette 30140-B; National Migration Service (migracion.gob.pa). Accessed on 08/28/2026.
Costa Rica
The route. $150,000 USD, and the list of accepted investments is broader than what the market advertises. It includes real estate, registrable personal property, stocks, bonds, productive projects, venture capital funds, and tourism infrastructure. You can combine different types of assets for your investment.
Two rules that change the decision. The investor and their dependents cannot engage in any paid work. Furthermore, residency does not automatically make you a Costa Rican taxpayer.
The current situation. Two-year residency, renewable upon proof that the investment has been maintained. Permanent after three years. The physical presence requirement is low, but it should be verified according to your individual situation and current regulations.
Source. Directorate General of Migration and Foreigners, Regulation of Law 9996 (migracion.go.cr). Accessed on 08/28/2026.
Colombia
The route. M Investor Visa, requiring 350 minimum wages in real estate, approximately $160,000 USD, or 100 minimum wages in corporate equity.
The current situation. The detail that causes applications to be rejected is the indexation to the minimum wage, which rose significantly in 2026. Those who qualified last year may not qualify upon renewal. The investment must meet the applicable registration requirements, and time spent outside the country may affect the validity of your immigration status according to visa rules.
Source. Colombian Ministry of Foreign Affairs (cancilleria.gov.co), Resolution 5477/2022. Accessed on 08/28/2026.
Uruguay
The route. It is important to distinguish between two things. Legal residency depends on proven income of approximately US$ 1,500 per month. Changing your tax residency is a different path, and that is what the regime known as the Tax Holiday addresses.
What changed in January 2026. Tax and residency rules have changed, and the combination previously marketed is no longer applicable in the same way as of 2026. Until 2025, it was enough to invest about US$ 590,000 in real estate and spend 60 days a year in the country. That combination is gone. Today there are three paths: staying more than 183 days, investing about US$ 2 million in real estate, or making an annual contribution of about US$ 100,000 to innovation funds.
What the benefit provides. Exemption on certain foreign-sourced financial income during the year of entry and the following ten years. After that, the law provides for a gradual phase-out over an additional five years.
Source. Law 20.446, December 2025 (gub.uy); General Tax Directorate (dgi.gub.uy). Accessed on 08/28/2026.
United States
EB-5
The route. $800,000 in a Targeted Employment Area, which includes rural zones, areas with high unemployment, or qualified infrastructure projects. Outside of these areas, the amount is $1,050,000. The investment must create ten full-time jobs.
An advantage the market often underestimates. There are reserved visa quotas each year: 20% for rural areas, 10% for high unemployment, and 2% for infrastructure. For those coming from a country with a long backlog, choosing a project in these categories can significantly change wait times.
The timeline. The amounts have remained the same since 2022. The first inflation-based adjustment will apply to applications submitted on or after January 1, 2027.
Source. USCIS, U.S. Citizenship and Immigration Services (uscis.gov). Accessed on 08/28/2026.
Gold Card
The route. A $1 million non-refundable contribution for individuals, or $2 million when a company sponsors an employee.
The current situation comes with caveats. The program has not created any new categories. It operates within the EB-1 and EB-2 categories, meaning it remains subject to per-country backlogs. The program does not, in itself, create any special tax treatment. Because it relies on an executive framework and interaction with existing immigration categories, its long-term stability warrants monitoring.
Attention: January 1, 2027
The EB-5 is receiving its first inflation adjustment. Applications submitted before this date will maintain current pricing.
Source. Executive Order 14351 and the official program portal. Accessed on 08/28/2026.
The bridge that almost no one explains
The E-2 treaty investor visa is not available to those holding only a Brazilian passport, as Brazil has not signed such an agreement with the United States. This is why Grenada appears so frequently in the planning of Brazilian families targeting the United States.
Frequently asked questions
What is the most affordable program in 2026?
Paraguay's Investor Pass starts at $70,000, offering direct permanent residency provided you create five formal jobs. In Europe, Latvia has the lowest entry point.
Does residency by investment grant the right to a passport?
Not immediately, with one exception. The five Caribbean programs grant direct citizenship. The others grant residency, and citizenship depends on the length of time spent living in the country.
Can Brazilians still obtain Portuguese citizenship in five years?
Not for new applications. Since May 2026, the waiting period is seven years. Those who applied before this date follow the previous rule. The new law also added language, culture, and history exams.
Is Panama really going to increase the minimum investment amount in October 2026?
Not according to the current text. The decree sets the minimum sum at "from three hundred thousand dollars" and does not include an expiration date. The date circulating is based on a miscalculation.
Does the 60-day rule in Uruguay still exist?
Not for those entering from January 2026 onwards. The option combining a lower-value property with a 60-day stay requirement has been abolished.
Can I work in the country where I invested?
It depends, and the differences are significant. In Hungary, the permit allows you to work without restrictions. In Costa Rica, the investor category prohibits any paid work, even for dependents.
Can I invest without living in the country? In many cases, yes. Italy, Hungary, and Greece do not set a minimum stay to maintain the investment route, while Portugal requires seven days per year. Each case must also be analyzed from the perspective of tax residency.
The next step is not choosing the cheapest option
If you have reached this point with two or three countries in mind, the decision isn't solved by comparing prices. It is solved by cross-referencing four factors: the amount you want to commit, the time you are willing to wait, the number of days you can spend abroad, and how it affects your taxes.
This cross-analysis is what we do with you before any capital movement. Tell us where you want to go and what needs to be resolved within two years. From there, we map out the path and keep every step on track, from the first document to having the residency card in your hand.
Do you already know which destinations make sense for you? The next step is to understand which route truly fits your current situation, assets, and goals. Get in touch with us and discover how we can help you build that path.
The rules for all programs mentioned change frequently. This content reflects the landscape as of September 2026 and does not replace an individual analysis of your specific case.
