European Golden Visa in 2026: What Still Applies to Brazilians

In 2026, buying property no longer gives residence by investment in Spain, and AIMA's list in Portugal does not include real estate. Greece keeps the real estate route, with a minimum of €800k or €400k depending on the region. The EU Court of Justice declared Malta's citizenship-by-investment program contrary to European law.

This comparison only states what is in force according to each government's official source, opened on the review date. Amounts, deadlines and conditions that could not be confirmed were left out. Before committing capital, confirm the rule of the day on the website of the responsible body, because these programs change by law.

Which European countries still offer residence by investment in 2026?

Portugal and Greece keep residence-by-investment programs, Spain ended its program, and Malta's citizenship program was condemned by the EU Court of Justice. The table summarizes the confirmed situation.

What does AIMA accept today in Portugal's golden visa?

Portugal accepts the Residence Permit for Investment (ARI, Autorização de Residência para Investimento) for job creation, research, cultural heritage, capital funds and company formation. AIMA's official page cites Art. 90-A of Law 23/2007 and Law 56/2023 as the legal basis. The options listed are:

• •Job creation (sub-point ii): at least 10 jobs. The requirement drops to 8 in a low-density territory.
• •Scientific research (sub-point v): a capital transfer of at least €500k applied to research activities of the national science and technology system.
• •Heritage and arts (sub-point vi): a transfer of at least €250k for artistic production or the recovery and maintenance of national cultural heritage.
• •Funds (sub-point vii): a transfer of at least €500k to non-real-estate collective investment undertakings, established under Portuguese law, with a maturity of at least 5 years and at least 60% of the amount invested in commercial companies headquartered in Portugal.
• •Company (sub-point viii): a transfer of at least €500k to form a commercial company headquartered in Portugal and create 5 permanent jobs, or to strengthen the capital of an existing company.

The ARI holder can live and work in Portugal, travel in the Schengen area without a visa and apply for family reunification. AIMA requires a stay of at least 7 days in the first year and 14 days in the following years. AIMA requires online pre-registration for the application, and the choice of fund should be validated with the management company and with a lawyer in Portugal.

Does Spain still give an investor visa for buying real estate?

No. Arts. 63 to 67 of Ley 14/2013, which dealt with the visa and residence permit for investors, have been without content since April 3, 2025, by force of the twenty-first final provision of Ley Orgánica 1/2025. The consolidated text on the BOE records this change.

The same law brought two transitional rules:

• •Applications already filed: those who applied before the transitional rule took effect can receive the visa or permit under the rule in force on the date of the application.
• •Permits in force: valid investor visas and permits keep their validity for the period granted, and renewals follow the rule of the initial grant.

How much does Greece's real estate golden visa cost in 2026?

The minimum is €800k in the Attica Region, the Thessaloniki regional unit, Mykonos, Santorini and islands with more than 3,100 inhabitants, and €400k in the other areas. The official Greek government page states that Art. 64 of Law 5100/2024 raised these thresholds, previously €500k and €250k.

The same law provides for two cases with a minimum of €250k, according to the official page on the new real estate investment options:

1. •Change of use to residence: purchase of a property whose main spaces become housing. The investment is made in a single property, and the change of use must be completed before applying for the permanent permit. It also applies to an industrial building, as long as no industry has been installed and operating in the last 5 years.
2. •Listed building: purchase of a heritage-listed building (or part of it), for restoration or reconstruction.

Confirm the exact zone of the property with the Greek authority before signing: the difference between the two brackets is €400k.

Is Malta citizenship by investment still an option?

Not as a market product. On April 29, 2025, the Grand Chamber of the EU Court of Justice ruled in case C-181/23 and concluded that Malta's citizenship-by-investment program violates Art. 20 TFEU and Art. 4(3) TEU. According to the court's official press release, Union citizenship cannot result from a commercial transaction. For that reason, this guide presents no Malta amounts or deadlines.

What must a Brazilian investor report?

Anyone who holds assets outside Brazil must report them to the Central Bank. The BCB page on the Brazilian Capital Abroad report (CBE) states that the annual report is mandatory for residents with assets abroad totaling $1,000,000 on December 31, due from February 15 to April 5 of the following year.

An individual's income from financial investments abroad goes into the Annual Adjustment Return, at a rate of 15% (Law 14,754/2023, Art. 2, § 1). Taxation of income from real estate abroad and of each specific fund depends on the case: take the contract and the prospectus to an accountant before investing. For the succession and structure view, see the international succession planning framework.

How do I choose among the available routes?

Choose by purpose and by the route that remains open, not by blog rankings. Follow these steps:

1. •Define the goal: residence to live in, Schengen access, asset diversification or succession planning.
2. •Confirm the route in the country's official source (AIMA, BOE or the Greek government) in the week of the investment.
3. •Reserve for the stay rule: in Portugal, 7 days in the first year and 14 in the following years.
4. •Consult a local lawyer to validate the asset (fund, property or company) and the review timeline.
5. •Plan compliance in Brazil: CBE, asset reporting and taxation of income.
6. •Document the source of funds before starting the application.

OffshoreProz supports the tax planning, corporate structures and compliance side of this decision.