In a world where borders are becoming more flexible for those with the right resources, “Golden Visas” have emerged as a popular route to residency or even citizenship through investment.
These programs are particularly attractive to entrepreneurs, retirees, and remote workers looking for more freedom, security, or tax advantages. But with so many countries offering them, the question arises: which country has the cheapest Golden Visa?
Currently, Latvia holds the crown for offering one of the cheapest Golden Visas in Europe. The minimum investment required is just €60,000—significantly lower than most other European nations. Through this program, you can gain residency by investing in government bonds, real estate, or a local company. While it doesn’t offer instant citizenship, Latvian residency provides access to the entire Schengen Zone, making it a powerful mobility tool.
Greece is another affordable option, especially popular among property investors. With a real estate investment of €250,000, you can qualify for a renewable five-year residence permit. While this is more expensive than Latvia, it remains one of the lowest thresholds in the EU. Greece’s strong tourism market also allows you to potentially earn rental income while maintaining a foothold in Europe.
Outside of Europe, Turkey offers a relatively low-cost Golden Visa path with the bonus of eventual citizenship. With a $400,000 real estate investment, applicants can apply for Turkish citizenship within a few months. While Turkey isn’t part of the EU, it has strong regional mobility and a favorable tax environment. Plus, Turkish passport holders enjoy visa-free or visa-on-arrival access to over 110 countries.
For those looking for a Caribbean paradise, Dominica and St. Lucia provide some of the world’s cheapest citizenship-by-investment programs. Starting at just $100,000 in the form of a government donation, you can become a citizen in under six months. Though not Golden Visas in the traditional sense (which usually offer residency first), these programs effectively offer full citizenship for a fraction of the price you’d pay in Europe.
Panama also deserves mention for its Friendly Nations Visa. While not technically a Golden Visa, it functions similarly by offering residency in exchange for a relatively modest bank deposit of $5,000 and proof of economic ties. It’s a favorite among digital nomads and retirees due to Panama’s low cost of living and territorial tax system.
It’s worth noting that the cheapest Golden Visa doesn’t always mean the best. Factors like tax laws, pathway to citizenship, family inclusion, and quality of life vary greatly. For instance, a cheaper program in a country with a weak passport or unstable government may not offer the long-term benefits some investors are looking for.
In conclusion, if affordability is your top concern, Latvia, Turkey, and the Caribbean nations offer some of the cheapest and fastest paths to residency or citizenship. However, it’s essential to look beyond just the cost—legal support, lifestyle, and long-term goals should all play a role in your final decision.