Property‑Based Residency & Golden Visa Programs: A Guide for Irish Investors
Introduction
Irish expats, residents and investors are increasingly looking beyond the island for a second home, a safe haven for wealth, or a pathway to greater mobility. Property‑based residency – often called a Golden Visa – lets you obtain legal residence (and sometimes citizenship) by investing in real estate or other qualifying assets.
This article explains how these schemes work, highlights the most attractive jurisdictions, and provides up‑to‑date statistics (2023‑2024) to help you decide which programme best fits your personal and financial goals.
How Property‑Based Residency Works
| Feature | Typical Requirement | What It Gives You |
|---|---|---|
| Investment type | Purchase of residential/commercial property, or a capital‑transfer/venture‑fund option | Residence permit for the main applicant and eligible family members (spouse, dependent children, sometimes parents) |
| Minimum stay | Often none or a few days per year (e.g., Portugal 7 days, Greece no stay) | Right to live, work or study in the host country and travel freely within the Schengen Area (if EU) |
| Path to citizenship | Varies – 5 years in Portugal, 7 years in Greece, 10 years in some Balkan states | After fulfilling residence and language requirements, you may apply for citizenship |
| Tax benefits | Many programmes offer favourable personal‑income‑tax regimes, no inheritance tax, or double‑tax‑treaty relief | Potentially lower overall tax burden for worldwide income and assets |
The appeal for Irish investors lies in diversification, a hedge against local market volatility, and the added freedom to travel, work or study abroad without needing a separate visa.
Top European Property‑Based Golden Visa Schemes
1. Portugal – The Benchmark Programme
Investment options (2023)
- €250 000 – capital transfer to a Portuguese venture‑fund (most popular after the 2022 real‑estate ban in Lisbon, Porto and the Algarve)
- €400 000 – purchase of a property outside the restricted zones (or €280 000 for a qualifying renovation)
2023 statistics (AIMA data)
- 15 619 main applicants received residence permits
- 21 978 family members were granted permits
- Total investment value: €70.9 million (≈ €50 million in real‑estate, €20 million in capital transfer)
- 99 applicants chose real‑estate; 57 opted for capital‑transfer or venture‑fund routes
Key benefits for Irish investors
- Only 7 days per year required in Portugal – ideal for a “plan‑B” base
- Portuguese tax regime offers a non‑habitual resident (NHR) status with a flat 20 % tax on Portuguese‑source income and exemptions on foreign dividends, interest and pensions for ten years
- After 5 years of legal residence you may apply for Portuguese citizenship, granting an EU passport
2. Greece – Low‑Cost Entry, High Mobility
Investment threshold – €250 000 in residential property (reduced to €200 000 in some islands after 2022, but the €250 k floor remains the norm)
2023 statistics (Greek Ministry of Migration)
- 7 752 applications received by November 2023 – a 78 % increase on 2022
- 6 405 Chinese nationals and 618 Turkish nationals were granted residency – the two biggest source markets
Why it suits Irish buyers
- No minimum stay requirement – you can keep your primary home in Ireland
- Access to the entire Schengen Area for short‑term travel
- Relatively modest investment compared with Western Europe, making it attractive for a second‑home portfolio
3. Malta – High Permit Rate, Strong EU Ties
Investment routes (2023‑2024)
- €375 000 purchase of a property or €14 000 annual rent
- €30 000‑€60 000 government contribution (depending on purchase or rent)
- €2 000 donation + administrative fees
2023 statistics (Eurostat, analysed by Times of Malta)
- ≈ 42 000 first‑time residence permits issued – the highest per‑capita rate in the EU (7 400 permits per 100 000 inhabitants)
- Employment permits accounted for ≈ 28 000 of these, with ≈ 7 300 for education and ≈ 3 200 for family reasons
Advantages for Irish investors
- English is an official language, easing integration and business set‑up
- Malta’s Corporate Tax System (full imputation) and extensive double‑tax treaty network are attractive for high‑net‑worth individuals
- After 5 years of residence you may apply for citizenship, granting an EU passport
4. Italy – “Investor Visa” for Innovation
Investment options (minimum amounts)
- €250 000 in an innovative start‑up
- €500 000 in an Italian company or €2 million in government bonds
Key points
- Residency is granted for 2 years, renewable for another 3 years
- No mandatory stay – you can remain in Ireland while maintaining the Italian residence
5. Cyprus, Latvia & Hungary – Emerging Alternatives
| Country | Minimum property investment | Residence permit length | Notable features |
|---|---|---|---|
| Cyprus | €300 000 (residential) | 2 years (renewable) | Fast track to citizenship (7 years) |
| Latvia | €250 000 (real estate) or €50 000 (business) | 5 years (renewable) | Low cost of living, Baltic gateway |
| Hungary | €250 000 in a real‑estate fund (or €1 million donation) | 10 years (renewable) | Central European location, lower cost of living |
Non‑European Property‑Based Residency
| Country | Minimum real‑estate investment | Residence permit | Path to citizenship |
|---|---|---|---|
| United Arab Emirates (UAE) | AED 2 million (≈ €500 k) in approved property | 5‑year renewable visa | No direct citizenship, but long‑term residency and tax‑free environment |
| United States (EB‑5) | $1 050 000 (or $800 000 in a Targeted Employment Area) | Conditional Green Card (2 years) → permanent | After 5 years of residence you may apply for US citizenship |
| Canada (Start‑up Visa) | Minimum CAD 200 000 investment from a designated incubator/VC | Permanent residence from day 1 | Citizenship after 3 years of physical presence |
These programmes are especially relevant for Irish investors seeking a foothold in North America or the Middle East, where tax regimes and market opportunities differ markedly from Europe.
Comparative Snapshot of Investment Thresholds
| Country | Property investment minimum | Other popular route | Permit validity | Minimum stay (per year) |
|---|---|---|---|---|
| Portugal | €250 000 (fund) / €400 000 (property) | €250 000‑€500 000 capital transfer | 2 years (renewable) | 7 days |
| Greece | €250 000 | – | 5 years (renewable) | No stay requirement |
| Malta | €375 000 (buy) / €14 000 rent | €30 000‑€60 000 contribution | 1 year (renewable) | No stay requirement |
| Spain (programme ending 2025) | €500 000 | – | 2 years (renewable) | 6 months |
| Italy | €250 000 (start‑up) | €500 000 (company) | 2 years (renewable) | No stay requirement |
| UAE | AED 2 million (≈ €500 k) | Business investment | 5 years (renewable) | No stay requirement |
| US EB‑5 | $800 000‑$1 050 000 | – | 2 years conditional, then permanent | No stay requirement |
All figures are approximate and subject to change; always verify the latest official thresholds before committing.
Why Irish Investors Choose Property‑Based Residency
- Diversification of Assets – Owning property in a stable EU market reduces exposure to Irish housing cycles.
- Travel Freedom – Schengen residency enables visa‑free travel across 27 European countries, ideal for business trips or holidays.
- Education & Healthcare – Access to high‑quality public schools and universal healthcare for you and your family.
- Tax Planning – Many jurisdictions offer favourable tax regimes for foreign‑source income, pension protection, and inheritance tax relief.
- Future Citizenship – An EU passport opens doors to work, study and live anywhere in the EU, enhancing personal and professional mobility.
Practical Steps to Secure a Property‑Based Golden Visa
- Define Your Objectives – Are you after a holiday home, an investment return, or a pathway to citizenship?
- Select the Destination – Compare investment thresholds, processing times, and lifestyle factors (climate, language, education).
- Engage a Specialist Advisor – A qualified immigration lawyer or consultancy (e.g., Global Citizen Solutions) will guide you through due‑diligence, paperwork and compliance.
- Identify the Property – Work with a reputable local realtor; ensure the property meets the programme’s eligibility (e.g., not in restricted zones).
- Prepare Documentation – Passport, proof of clean criminal record, source‑of‑funds evidence, health insurance, and proof of family relationships.
- Submit the Application – Usually filed online or through the local immigration office; include the investment contract and payment receipts.
- Await Due Diligence – Authorities will verify the source of funds and conduct background checks; processing times range from 3 months (Greece) to 12 months (Portugal).
- Receive the Residence Permit – Once approved, you and your dependents obtain the residency cards; you can then travel and live as permitted.
- Maintain the Investment – Most programmes require you to retain the property for a minimum period (typically 5 years) to keep the permit valid.
- Apply for Citizenship – After fulfilling residency and language requirements, submit a citizenship application if desired.
Choosing the Right Programme for Irish Buyers
| Priority | Best Fit | Reason |
|---|---|---|
| Lowest capital outlay | Greece | €250 k property, no stay requirement |
| Fastest route to citizenship | Portugal | 5 years, high approval rate, NHR tax regime |
| English‑speaking environment | Malta | English is official; strong EU ties |
| Investment diversification (funds + property) | Portugal | Venture‑fund option alongside real estate |
| Tax‑free income | UAE | No personal income tax, attractive for high‑net‑worth individuals |
| North American market access | US EB‑5 / Canada Start‑up | Direct path to permanent residency in the US or Canada |
Consider your long‑term lifestyle goals, the amount you are comfortable investing, and the tax implications in both Ireland and the host country.
Conclusion
Property‑based residency programmes, popularly known as Golden Visas, have become a cornerstone of international wealth strategy for Irish investors. Portugal, Greece and Malta remain the European front‑runners, offering a blend of reasonable investment thresholds, attractive tax regimes and clear pathways to EU citizenship.
Non‑European options such as the UAE, United States and Canada broaden the horizon for those seeking tax‑free environments or North‑American market exposure. By analysing the latest statistics and aligning them with personal objectives, you can select a programme that not only secures a second home but also enhances global mobility, financial security and future opportunities for you and your family.
If you’re ready to explore the possibilities, consult a specialised immigration adviser to navigate the legal nuances, ensure compliance and make the most of Ireland’s strong ties with these thriving markets.