Five programmes, one comparison
Golden visa and investor residency rule changes, 2025 to 2026
This is a dated log of the official changes since January 2025 that matter to people buying property abroad for residency, or buying in the UK from abroad. The newest are first, and each entry links to its source. We add to it every month.
Biggest changes: Spain closed its golden visa in April 2025, Malta ended citizenship by investment in July 2025, and Portugal lengthened the path to citizenship in May 2026.
Each entry is marked as in force, announced or proposed. A proposal is not law until it is passed and published, so check its status before you rely on it. Where a primary source could not be reached, we cite a law firm or reputable press and name it.
Property transfer tax
Bill tabled (Article 16) to raise transfer tax on homes bought by individuals tax resident outside the EU and EEA from 3% to 15% for contracts from 1 July 2027. A roll-call vote was scheduled for 13 November 2026; passage was not confirmed when we checked. (ERT (Hellenic Broadcasting Corporation))
Property income tax (Budget 2026)
Property income tax rates for 2027-28 set at 24%, 44% and 49%, a further 2-point rise on Budget 2025. Stamp duty rates and the 5% additional-home and 2% non-resident surcharges are unchanged. (HM Treasury, Budget 2026 rates and allowances)
Permanent residence by investment
The Deputy Migration Minister said the investor permanent residence scheme will be tightened before Schengen entry and about 12,000 permits are under review. No new rules have been published. (Cyprus Mail)
Short-term rentals
The freeze on new short-term rental registrations in central Athens (districts 1 to 3) and central Thessaloniki is to be extended to 31 December 2027. (To Vima)
Short-term rentals
No new short-term rental registry numbers in Thessaloniki's 1st Municipal Community until 31 December 2026. (To Vima)
Corporate tax: family foundations and family offices
The Federal Tax Authority updated its family foundations guide: multi-tier structures can be tax transparent, but family offices are unlikely to qualify, and single-family investment management generally does not get the 0% free zone rate. (Baker McKenzie)
Nationality law
The residence needed for citizenship rises from 5 to 7 years for EU and Portuguese-speaking nationals and to 10 years for others, counted from the first residence permit. Applications pending on 19 May 2026 keep the old rules. (Diário da República, Lei Orgânica 1/2026)
Commercial legislation: foundations and trusts
ADGM amendments ban bearer shares, clarify trustees' beneficial ownership duties and replace the licensing and branch rules. (ADGM Registration Authority)
Two-year property investor visa
The AED 750,000 minimum value was removed for sole owners of completed, registered property. Joint owners need a share of at least AED 400,000 each, and off-plan property does not qualify. (Fragomen)
Beneficial ownership and nominee disclosure
The public register must flag nominee shareholders and directors, foreign branches must hold parent ownership data, and changes must be reported within 15 days. (Sovereign Group)
Permanent residence by investment
An opposition bill would write the €300,000 permanent residence route into law and end it unless regulations follow within three months. The outcome after Parliament dissolved on 23 April 2026 is not verified. (IMI Daily)
US entry restrictions
The US suspended entry of immigrants and B, F, M and J visa holders from both countries, citing citizenship by investment without residence. (The White House)
Visa-waiver suspension mechanism
Regulation (EU) 2025/2441 makes it easier to suspend visa-free travel and adds investor citizenship schemes as a ground. (EUR-Lex)
Citizenship
Parliament removed the Cabinet's power to grant citizenship by exception, closing the last legal basis of the former golden passport scheme. (Cyprus Mail)
Budget 2025: council tax surcharge and property income
A High Value Council Tax Surcharge on English homes worth £2 million or more from 1 April 2028 (£2,500 to £7,500 a year), and separate higher property income tax rates from 6 April 2027. (CMS)
Golden visa documentation
Joint Ministerial Decision 214926/2025 set out how conversions, listed buildings and land-plus-construction investments qualify, unblocking about 13,500 pending files. (Proto Thema, citing Government Gazette B' 6014/11.11.2025)
Entry/Exit System and ETIAS
The Entry/Exit System started on 12 October 2025. ETIAS is scheduled for the last quarter of 2026, with no exact date confirmed. (European Commission)
Regional citizenship by investment regulator
Antigua and Barbuda published a bill giving the five-state regulator agreement (ECCIRA) force of law. The start of operations is not confirmed. (Laws of Antigua and Barbuda)
Citizenship by investment ended
Act XXI of 2025 removed the investor citizenship route after the EU Court of Justice ruling and kept a discretionary merit-based route. (Parliament of Malta)
Permanent residence fees
Legal Notice 146 of 2025 set an administration fee of €60,000, a single €37,000 contribution whether you buy or rent, removed the per-dependant contribution, and set a €7,500 dependant fee. (BDO Malta)
Court ruling on citizenship by investment
The EU Court of Justice ruled in case C-181/23 that Malta's citizenship-for-investment programme breaches EU law. (Court of Justice of the EU, press release 52/25)
Non-dom regime abolished
The remittance basis was replaced by a 4-year foreign income and gains exemption for new arrivals, and inheritance tax on worldwide assets applies after 10 of the last 20 years of UK residence. (HM Treasury and HMRC)
Golden visa abolished
Organic Law 1/2025 ended the investor residence visa. Applications filed earlier are decided under the old rules, and existing permits can be renewed. (KPMG Abogados)
Stamp duty thresholds
The temporary relief ended: the nil-rate band returned to £125,000, and first-time buyers pay nothing up to £300,000 with a £500,000 cap. The 5% additional-home and 2% non-resident surcharges apply on top. (GOV.UK)
Permanent residence thresholds
Minimum property purchase of €375,000, or rent of €14,000 a year, across Malta and Gozo. (IMI Daily, citing Residency Malta)
Short-term rentals
Ban on new short-term rental registrations in Athens' 1st to 3rd municipal districts. (Greek City Times)
See the Golden Visa Cost Index for what each programme costs in total, and the full guide for the current rules.
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