EU citizenship by investment in 2026
The EU no longer sells passports: the EU court shut Malta's programme, and Cyprus and Bulgaria closed theirs. Here are the routes to an EU passport still open to investors, how many years they take and what to consider instead.
In short
- No EU country sells passports anymore: Malta abolished its programme on 24 July 2025 after an EU court ruling.
- The main investor route is a residence permit from $280,000 and naturalisation after 5-10 years of living in the country.
- The fastest EU passports come by descent: Latvia, Bulgaria and Greece, without moving.
- Austria grants citizenship for exceptional merit: 1.5-2 years, from about $4.5 million in practice.
- Near Europe, Turkey from $400,000 and, formally, North Macedonia grant passports for investment.
In detail
No EU country sells citizenship for investment in 2026: the last programme, Malta's, was abolished on 24 July 2025 after a ruling by the EU Court of Justice. For an investor, the main route to an EU passport is now a residence permit for an investment from $280,000, followed by naturalisation after 5-10 years of living in the country.
The route is faster for people with ancestry in an EU country or a spouse who holds an EU passport. The shortest and most expensive option is Austrian citizenship for exceptional merit. Below: what closed and why, timelines for 7 countries, the ancestry and marriage routes, and passports for investment just outside the EU.
Where can you buy EU citizenship in 2026
Nowhere: since 24 July 2025 no EU member state grants a passport for a fixed, published amount. Malta was forced out by the EU court, Cyprus and Bulgaria closed their programmes themselves, and Austria never sold citizenship at all: it grants it for exceptional merit, and the government decides each case.
Data for 2026.
| Country | What existed | When it closed | What remains for investors |
|---|---|---|---|
| Malta | a passport for a contribution from $680,000 after 3 years of residence | 24 July 2025 | Malta permanent residence for contributions and property, citizenship by merit |
| Cyprus | a passport for property and business investment | 2020 | Cyprus permanent residence from $340,000, citizenship after 8 years of living there out of 11 |
| Bulgaria | a passport for investment | 1 April 2022 | a residence permit for investment, citizenship by descent |
| Austria | never had a programme | never closed | citizenship for exceptional merit, from ~$4.5 million in practice |
Offers in 2026 to buy a Maltese, Cypriot or Bulgarian passport for a fixed price are outdated marketing. Malta's Act No. 21 of 2025 and the EU court's judgment in case C-181/23 are both published in official databases and easy to check before any payment.
For people who already hold a passport from the old programmes, nothing changes: Maltese citizenship granted for investment stays in force under the rules that applied at the time of naturalisation.
Why the EU court banned passport sales
The EU Court of Justice ruled that granting citizenship in direct exchange for pre-set payments turns it into a commercial transaction, which is incompatible with EU law. The judgment in case C-181/23 was handed down on 29 April 2025.
The reasoning is simple. A passport of any member state automatically makes its holder an EU citizen, with the right to live and work in all 27 countries. In the court's view, one country cannot sell something that affects all the others. Malta complied within 3 months: parliament unanimously passed the amendments on 23 July 2025, and on 29 July Legal Notice 159 of 2025 turned the investment naturalisation rules into rules on citizenship by merit. Licensed citizenship agents no longer exist in Malta.
The pressure extends to neighbours. Since December 2025 the European Commission has demanded that North Macedonia close its programme, and it has warned Caribbean states that their citizens could lose visa-free Schengen access - see our analysis of the EU ultimatum to Caribbean passports.
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How to get an EU passport through residence by investment
Through a residence permit for an investment from $280,000 and 5-10 years of living in the country: the investment gets you in, and the passport follows under the standard naturalisation rules, with a language test. In 2026, 7 EU countries issue this kind of residence permit.
Data for 2026. Amounts are per main applicant, excluding fees, purchase taxes and services.
| Country | Investment from | Status after investing | Citizenship after |
|---|---|---|---|
| Greece | $280,000; standard homes from $450,000, Attica and popular islands from $900,000 | residence permit, permanent residence after 5 years | 7 years of living in the country |
| Portugal | $280,000 in culture; fund units and company capital from $560,000 | residence permit | 10 years from the first residence card |
| Italy | $280,000 in a start-up | residence permit for 2 years plus 3 | 10 years of living in the country |
| Hungary | $280,000 in real estate fund units for 5 years | permit for 10 years plus 10 | 8 years of living in the country |
| Cyprus | $340,000 and income from $56,000 a year | permanent residence at once | 8 years of living there out of the last 11 |
| Malta | $120,000 in fees and contributions plus property | permanent residence at once | about 5 years of living in the country |
| Latvia | $56,000 in company capital and $12,000 to the budget | residence permit, permanent residence after 5 years | 5 years with permanent status, about 10 years after moving |
The main trap is the gap between how long a card is valid and how long you actually live in the country. Almost everywhere, naturalisation counts real residence: Cypriot permanent residence with one visit every 2 years builds no time towards a passport. Since 19 May 2026 Portugal requires 10 years instead of 5, counts them from the first residence card and no longer credits the time spent waiting for it. More in our guide to Portuguese citizenship.
For the residence programmes themselves - thresholds, timelines and closed options - see our overview of Europe's golden visas.
The fastest way to EU citizenship
Ancestry is the fastest route to an EU passport: Latvia, Greece and Bulgaria process descendants in anything from a month to 2 years, without moving. Without ancestry, the shortest path is marriage to a citizen, and for an investor with a large business, Austrian citizenship for exceptional merit in 1.5-2 years.
Data for 2026.
| Route | Who it suits | Timeline | Residence required |
|---|---|---|---|
| Latvia by descent | descendants of Latvian citizens as of 17 June 1940, Latvians and Livonians | from 1 month to a year | no |
| Bulgaria by descent | anyone with a Bulgarian ancestor up to a great-grandparent | up to 9 months by law, 1-2 years in practice | no |
| Greece by ancestry | ethnic Greeks and descendants of Greek citizens | about 18 months | no |
| Romania by ancestry | descendants of Romanian citizens who speak Romanian | years of waiting | no |
| Marriage: Portugal, Cyprus, Bulgaria | spouses of citizens | 3 years of marriage; plus 2 years of living there in Cyprus, plus 3 years of residence in Bulgaria | per country rules |
| Austria for exceptional merit | investors with a business and jobs in Austria | 1.5-2 years | no |
The Austrian route is an exception, not a programme. The law sets no amount, the government decides under Article 10(6) of the 1985 Citizenship Act, and there were 19 such cases in 2018-2024. In return there is no German test, no residence period, and the applicant keeps their previous passport.
Check ancestry first: many families have forebears from Latvia, Lithuania, Poland, Greece, Bulgaria or Romania, and a claim by descent is often cheaper than any investment. Archive searches and assembling the chain of documents take months, so it pays to start before choosing a programme.
How much EU citizenship by investment costs
From $280,000 invested in a residence permit, plus 5-10 years of living in the country, a language test and government fees. At the top end is the Austrian route: in practice from $4.5 million invested in a local business.
Unlike a donation for a passport, an investment for residence usually remains an asset: a home, fund units or a company stake. The permit is renewed while the investment is held, and selling the asset early usually ends the right to renew. Fees for the passport itself are modest: $1,200 in Cyprus, $280 in Portugal.
The family total adds up from the investment, purchase taxes, fees for each family member, translations and years of rent or upkeep. Our support fees are available on request from a manager, who will work out a route for your family and budget in the chat.
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Countries near Europe that grant citizenship for investment
Near Europe, two countries grant a passport for investment in 2026: Turkey, for property from $400,000, and, formally, North Macedonia, from $230,000 in a private fund. Montenegro and Moldova have closed their programmes.
Data for 2026.
| Country | Investment from | Timeline | Visa-free Schengen | Status in 2026 |
|---|---|---|---|---|
| Turkey | $400,000 in property, can be sold after 3 years | 4-8 months | no, visa required | open |
| North Macedonia | $230,000 in a fund for 2 years or $450,000 in a business with 10 jobs | a year or more in practice | yes, 90 days in any 180 | formally open, the EU demands closure, 1 approval in 2025 |
| Montenegro | - | - | - | closed since 1 January 2023 |
| Moldova | - | - | - | closed since 1 September 2020 |
| Caribbean states | a $200,000 contribution in Dominica, $230,000-250,000 elsewhere | 3-6 months | yes, 90 days in any 180 | open, the EU is pressing on visa-free access |
These passports solve a different problem: visa-free travel and a backup citizenship, not the right to live and work in the EU. If the goal is life in the EU, a Turkish or Caribbean passport will not replace it, and the route still runs through a residence permit.
All open citizenship-by-investment programmes, with thresholds and timelines, are collected in our overview of where to get citizenship by investment.
What an EU passport gives you
A passport of any EU country gives the right to live, work, study and run a business in all 27 EU member states, as well as in Norway, Iceland, Liechtenstein and Switzerland. No visa or residence permit is needed for that.
- Visa-free entry to most countries in the world, including the UK and Japan.
- Consular protection from any EU country where your own has no embassy.
- University study in the EU on the same terms as local students.
- Citizenship passes to children by birth.
The passport does not change your taxes: they are paid where you actually live for more than 183 days a year. Portugal, Cyprus, Greece, Italy, Hungary and Malta let you keep your previous citizenship, while naturalisation in Latvia and Bulgaria usually requires giving it up.
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Restrictions for certain nationalities
Naturalisation rules are the same for everyone, but in 2026 residence by investment comes with restrictions for citizens of Russia and Belarus:
- Latvia closed investor grounds to them on 24 September 2022.
- Italy suspended its investor visa on 14 July 2023, and from March 2024 also for dual nationals holding one of these passports.
- Greece accepts their applications only with a second citizenship of another country.
- Malta does not accept their permanent residence applications.
- In Portugal, EU Regulation 833/2014 bans selling fund units to Russian citizens and residents.
- Cyprus and Hungary accept applications.
- Caribbean programmes are closed to citizens of Russia and Belarus; Turkey and North Macedonia have no separate ban.
How to choose your route to an EU passport
Start with ancestry and family, then weigh the budget and the years your family is ready to live in the country. In order:
- Check your ancestors: Latvia, Lithuania, Poland, Greece, Bulgaria, Romania, Italy.
- If there is an EU citizen in the family, work out the marriage route.
- Choose a country to live in, not just to invest in: the time to a passport and the language matter more than the threshold.
- Compare investment and years: Greece 7 years, Hungary and Cyprus 8, Portugal and Italy 10.
- If you do not need to live in the EU, compare with Turkey and Caribbean passports.
Our second passport quiz narrows the options to your budget, and a manager will build the exact route for your family.
FAQ
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