The European Commission has called for an overhaul of regulations governing the issuance of golden passports for all member states. This action follows scrutiny of investor residency programs in Europe.

A golden visa is a program where a nation grants legal residency in exchange for a specific economic contribution to the host country. In 2026, eight European countries offer some form of a golden visa. The Netherlands terminated its golden visa program in January 2024 due to transparency issues. Portugal removed real estate investment as a qualifying option for its golden visa program in 2023. Spain stopped granting investment-based residence permits for foreigners as of April 2025.

Portugal's Golden Visa program allows applicants to invest 500,000 euros in approved investment funds or scientific research, or 250,000 euros in cultural or artistic projects. Another option involves obtaining residency through the creation of at least 10 jobs via a local business. The program has a minimal physical presence requirement of roughly seven days per year. Investors can apply for citizenship after 10 years of residency, provided they meet a civic and historical knowledge test, an A2 Portuguese language requirement, and make a formal declaration of adherence to democratic principles.

Greece offers property-based golden visas with real estate investments starting at 250,000 euros for qualifying conversion and restoration projects. Most of the country requires real estate investments of 400,000 euros for golden visa eligibility, while high-demand areas, such as central Athens, Thessaloniki, or Greek islands with over 3,100 residents, require 800,000 euros. Other options include a 500,000-euro investment in government bonds or a 350,000-euro investment in investment funds. Greek investors receive renewable five-year residency permits as long as they maintain their investments. Citizenship in Greece is possible after seven years of legal residence, and applicants generally must reside in Greece and satisfy language and integration requirements.

Italy's investor visa allows applicants to invest 250,000 euros in an innovative startup, 500,000 euros in an Italian company, 1 million euros in a philanthropic initiative, or 2 million euros in government bonds. After five years of continuous legal residence, golden visa holders may be eligible for permanent residency. Italian citizenship is generally available after 10 years of maintaining legal residence. Applicants must demonstrate successful integration, at least B1-level knowledge of the Italian language, and a clean criminal record.

Hungary revived its investor residency program in 2024 through its Guest Investor Residence Permit. The primary pathway requires 250,000 euros in approved investment certificates issued by a real estate fund, which investors must retain for a minimum of five years. At least 40% of the net asset value of the real estate fund must be allocated to residential real estate projects within Hungary. Investors can also qualify for a Guest Investor Visa by donating at least 1 million euros to a state-recognized higher education institution managed by a foundation engaged in public functions. Successful applicants receive a residence permit valid for 10 years, renewable for another decade, with no minimum stay requirement to maintain residency.

Financial Action Task Force President T. Raja Kumar said in a podcast interview that granting citizenship and residency to wealthy investors through "golden" passport and visa programs can potentially lead to economic growth. Mathias Cormann, Secretary-General for the Organization for Economic Co-operation and Development, stated that "Criminal exploitation of citizenship and residency programs is a multi-billion-dollar business to launder the proceeds of fraud and corruption, evade justice or access third countries."