Where Did the Golden Visas Go? The 2025–2026 Investor Residency Landscape
Spain closed its Golden Visa in April 2025. Portugal restructured. UAE and the US still offer investor routes. Here is where investors stand in 2026.
Last reviewed:
Key claims
Spain’s Golden Visa (residence by qualifying investment) closed to new applications on 3 April 2025, pursuant to Organic Law 1/2025.
Portugal’s Golden Visa remains open, but the October 2023 reform removed real-estate investment routes; qualifying routes now focus on fund subscription and qualifying Portuguese enterprises.
The UAE’s Golden Visa grants 5- or 10-year residency for qualifying investors, entrepreneurs, specialists, and outstanding talents; the 10-year stream is assessed by ICP and covers property investors above specified thresholds.
The US EB-5 program re-authorised by the EB-5 Reform and Integrity Act of 2022 offers permanent residence for qualifying investments (USD 800,000 in TEAs, USD 1,050,000 otherwise).
The US E-2 treaty investor visa is a renewable non-immigrant option for nationals of E-2 treaty countries—indefinitely renewable but not a direct green-card route.
Routes referenced
- Spain Golden Visa (ending April 2025) · Kingdom of Spain
- Portugal Golden Visa (residence by investment) · Portuguese Republic
- UAE Golden Visa · United Arab Emirates
- UAE Investor / Partner residence visa · United Arab Emirates
- EB-5 Immigrant Investor Program · United States of America
- E-2 Treaty Investor · United States of America
Frequently asked questions
Is there still a true Golden Visa in the EU?
Portugal remains the headline EU option after Spain’s closure and the Netherlands/Ireland closures in prior years—though Portugal’s reform materially narrowed qualifying routes. Greece, Malta, and others continue to run residence-by-investment programmes with their own rules. Always verify current eligibility on the issuing authority’s official site.
What replaced Spain’s Golden Visa?
Nothing directly. Spain’s Organic Law 1/2025 closed the residence-by-investment route without a direct successor. Investors previously eligible for the Golden Visa are now commonly using Spain’s Digital Nomad Visa (under the Startups Law), the Non-Lucrative Visa (for passive-income applicants not working for Spanish employers), or the Entrepreneur Visa (for founders of innovative businesses).
Which investor route is fastest to permanent residence?
US EB-5 grants conditional permanent residence at approval, with conditions removed after 2 years — the fastest direct PR of any investor route when not subject to country-cap backlogs. Portugal’s Golden Visa leads to permanent residence after 5 years. UAE Golden Visa is long-term residence (10 years) but not permanent residence in the conventional sense — it requires renewal. E-2 is non-immigrant and does not lead to a green card without switching categories.
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