Key Takeaways
- High-net-worth individuals often find the Portugal D7 Visa too tied to relocation and passive income, and look for options that protect capital while preserving global mobility.
- Programs in Greece, Malta, Italy, and Latvia can offer residency and Schengen travel, but usually require either higher physical presence or longer timelines for citizenship.
- The Portugal Golden Visa has moved fully to qualifying investment funds, with no personal property route, and remains one of the few European options that can lead to citizenship without full-time relocation.
- Portugal now requires 10 years of residence for citizenship in most cases, yet its low stay requirement and 12 to 18 month Golden Visa process still make it a competitive Plan B for families.
- VIDA Capital advises investors on accessing the VIDA Fund, an asset-backed hospitality strategy that supports Portugal Golden Visa eligibility, with tailored guidance from first contact to application; contact VIDA Capital to discuss your situation.
Why High-Net-Worth Individuals Are Looking Beyond the D7 Visa
Many high-net-worth individuals prefer residency strategies that do not depend on relocating to Portugal or shifting most of their income there. The D7 Visa usually requires an intention to live in Portugal for a substantial part of the year and proof of stable passive income.
These conditions conflict with the lifestyle of globally mobile investors who manage businesses and assets across several countries. Investment-based residency programs let them keep their main residence elsewhere while gaining residency in a specific EU country and visa-free Schengen travel.
Investment-led options also align better with capital preservation and portfolio planning, because they connect immigration goals to structured, asset-backed strategies rather than pure income tests.
1. Greece Golden Visa: Lower Entry Investment, Higher Physical Presence for Citizenship
The Greece Golden Visa offers residency through property-focused investments. Investment options start from €250,000 for commercial-to-residential conversions or listed building restorations, with standard residential investments of €400,000 outside high-demand areas and €800,000 in premium zones such as Athens, Thessaloniki, Mykonos, and Santorini.
One of its main strengths is flexibility for residency maintenance. The program has no annual stay requirement to keep residency and allows visa-free Schengen travel for up to 90 days in any 180-day period.
Citizenship is more demanding. Applicants need seven years of living in Greece, paying taxes there, and passing language and civic tests. This makes Greece more suitable for investors who plan to relocate, rather than those aiming for citizenship without moving.
Investors should also factor in property maintenance, local taxation, and resale conditions when building a long-term strategy in Greece.
2. Malta Permanent Residence Programme: Lifetime Residency, No Direct Citizenship Path
The Malta Permanent Residence Programme (MPRP) targets investors who want long-term residency in an EU country with English as an official language, without committing to a relocation-based citizenship plan.
Applicants can either purchase property from €300,000 to €350,000, depending on location, or sign annual leases from €10,000 to €12,000. They must also make a non-refundable government contribution starting at €97,000 for the main applicant, spouse, and minor children, so that the minimum total outlay is around €169,000.
The MPRP grants lifetime permanent residence with no annual stay requirement, and Schengen access for up to 90 days in any 180-day period. It does not, however, offer a direct route to citizenship. Malta’s separate exceptional services citizenship program involves much higher costs and more intensive commitments.
3. Italy Investor Visa: Flexible Investment Types With Full-Time Stay for Citizenship
The Italy Investor Visa appeals to investors who want a range of investment options combined with a defined tax framework.
Qualifying routes include €250,000 into an innovative startup, €500,000 into an existing Italian company, €1,000,000 as a philanthropic donation, or €2,000,000 in government bonds. Italy also offers an optional flat tax of €200,000 a year on foreign income for up to 15 years, which can be attractive for those with large international income streams.
Residency is relatively flexible in the early stages, but citizenship is not. Naturalization generally requires 10 years of legal residency, with at least 183 days per year spent in Italy. This makes Italy more suitable for families who are ready to relocate, rather than those looking for a low-presence Plan B.
4. Latvia Golden Visa: Straightforward Entry, Longer Path to Citizenship
The Latvia Golden Visa offers a relatively accessible financial threshold for gaining residency in an EU member state.
The standard route requires a minimum of €280,000, often via bank deposits or comparable instruments, plus government fees. In return, investors receive a renewable temporary residence permit, with Schengen travel for up to 90 days in any 180-day period.
Latvia can lead to permanent residence and then citizenship, but the timeline is comparatively long, and ongoing physical presence and language requirements apply. This option suits investors who are comfortable building a gradual, relocation-oriented relationship with the country.
Compare Latvia and Portugal in the context of your own goals in a call with VIDA Capital.
5. Portugal Golden Visa: Flexible Residency and a Route to Citizenship Without Full Relocation
The Portugal Golden Visa remains a strong option for investors who value flexibility and do not wish to relocate full-time. Portugal grants residency rights only in Portugal, but the residence card also allows visa-free travel across the Schengen Area for up to 90 days in any 180-day period.
Since October 2023, eligibility requires a minimum €500,000 investment into qualifying investment funds, with no personal property option available. Portugal is currently one of the only countries in Europe that offers access to citizenship without requiring a move to the country, because the stay requirement for residency is low.
The typical path includes:
- Selecting a qualifying fund and engaging a Portuguese immigration lawyer, which is essential for handling documentation and strategy.
- Completing the fund subscription and submitting the Golden Visa application with legal support.
- Receiving a 2-year temporary residence permit after approval and card issuance, then renewing it for two further 2-year periods while maintaining the investment and minimum stay requirements.
- Applying for permanent residency after 5 years, and later for citizenship when eligible.
The Golden Visa process usually spans 12 to 18 months. During this time, investors must meet only 14 days of physical presence in Portugal for every 2-year residence period. As the approval card issuance usually takes a year, you will most likely only need to do a single renewal instead of two in the 5-year period.
As of October 2025, Portugal’s Parliament extended citizenship timelines. Most non-EU and non-CPLP applicants must now reside in Portugal for 10 years before qualifying for citizenship, while nationals of Portuguese-language countries and EU citizens generally qualify after 7 years. The new rules are expected to apply to Golden Visa holders unless they submitted their citizenship application before the law took effect.
How VIDA Capital Supports a More Secure Portugal Golden Visa Strategy
VIDA Capital is an advisory firm that connects investors to the VIDA Fund, an asset-backed strategy focused on hospitality assets in Portugal. The VIDA Fund does not build new hospitality assets; it buys existing hotels and similar properties and transforms them, giving these assets a second life.
The fund targets undervalued or underperforming hospitality assets, then upgrades operations and positioning to improve long-term value and cash flow. Historical returns are not a guarantee of future returns.
Portugal’s tourism industry continues to expand. The country received about 31 million visitors in 2024, and travel and tourism generated around €27 billion in revenue. The 2030 FIFA World Cup, which Portugal will co-host, is projected to add more than €800 million to the economy, and forecasts suggest travel and tourism could account for 22.6% of GDP by 2035.
VIDA Capital supports clients through each Golden Visa stage, from fund selection to coordination with Portuguese lawyers, while keeping all fees and requirements clear. The fund’s asset-backed approach seeks to preserve capital over the long term, while supporting Golden Visa eligibility.
Comparison of EU Residency Schemes (D7 vs Investment-Based Alternatives)
|
Feature |
Portugal D7 Visa |
Greece Golden Visa |
Portugal Golden Visa (VIDA Fund route) |
|
Primary requirement |
Passive income and relocation intent |
Property-focused investment |
Investment in qualifying funds |
|
Minimum investment |
No investment, proof of income only |
From €250,000 |
€500,000 |
|
Stay requirement |
Significant physical presence in Portugal |
No minimum stay to keep residency |
14 days per 2-year period in Portugal |
|
Citizenship pathway |
After 10 years, with residence in Portugal |
After 7 years of living in Greece and meeting language rules |
After 10 years of residence in Portugal, without full-time relocation |
Frequently Asked Questions
What are the main limitations of the Portugal D7 Visa for high-net-worth individuals?
The D7 Visa is built around passive income and an intention to live in Portugal for much of the year. Many high-net-worth individuals prefer to keep flexible residence patterns and active business income from several countries, which fits less well with the D7 framework. The D7 also does not tie residency to an investment strategy, so it offers fewer options for integrating immigration planning with asset allocation.
How does the Portugal Golden Visa compare to other EU Golden Visas for citizenship?
Portugal stands out as one of the only European countries that offers access to citizenship without requiring relocation. Golden Visa holders can maintain residency with 14 days in Portugal every 2 years, yet the residence card still counts toward the 10-year citizenship timeline now in force for most applicants. Greece requires 7 years of living in the country and paying taxes there, and Italy generally requires 10 years with at least 183 days per year in the country. Spain no longer offers a Golden Visa program.
Why choose an asset-backed investment for the Portugal Golden Visa?
Asset-backed strategies such as the VIDA Fund give investors exposure to tangible hospitality assets in Portugal’s tourism market. VIDA Capital advises clients on allocating capital into the fund and coordinating with legal counsel. The fund focuses on buying existing hospitality assets and transforming them operationally and physically to improve performance, while supporting Golden Visa eligibility. Historical returns are not a guarantee of future returns.
Can family members be included in the Portugal Golden Visa application?
The Portugal Golden Visa allows family reunification for spouses, recognized partners, financially dependent children, and dependent parents or parents-in-law. A marriage certificate or other proof of relationship can establish eligibility for partners. Children must be full-time students, unmarried, not working, and remain dependent throughout the residency period until the Golden Visa application process is complete.
What should investors know about the updated citizenship timeline in Portugal?
From October 2025, most Golden Visa holders must complete 10 years of residence in Portugal before applying for citizenship. Nationals of Portuguese-language countries and EU citizens generally have a 7-year requirement. The Golden Visa continues to require only 14 days in Portugal every 2 years, so investors can meet residence rules without relocating full-time. The new rules should apply to Golden Visa holders unless they submitted a citizenship application before the law took effect.
Conclusion: Choosing the Right EU Strategy for Your Plan B
Greece, Malta, Italy, and Latvia each offer pathways to residency, Schengen travel, and in some cases citizenship, but they often demand either relocation or longer physical presence. These programs tend to work best for investors ready to anchor their lives in a specific country.
For investors who want to keep their primary base elsewhere while securing Portuguese residency, visa-free Schengen travel, and a defined path to citizenship over a 10-year horizon, the Portugal Golden Visa remains a strong option. The combination of Portugal’s low stay requirement, its stable tourism-driven economy, and the VIDA Fund’s asset-backed hospitality strategy creates a structured way to align immigration planning with long-term capital preservation.
