Cheapest EU Golden Visa in 2026: Latvia, Hungary, Cyprus, and GVI Core Tracks

What you still hold after the wire

After the wire, you may hold company equity, a fund share, a title deed, a lease, or Portuguese fund units. That is the useful starting point because two identical entry figures can leave the buyer with very different assets and risks.

Latvia, Hungary, and Cyprus broaden the entry-price picture. The deeper comparison then separates committed capital from money that is permanently gone.

The low sticker can carry the highest risk

Italy starts at €250,000 for an innovative startup. The investment follows nulla osta clearance and the holding period applies, but the underlying company can fail.

Greece's €250,000 route is narrow. Standard finished residential property starts at €400,000 in Zone B or €800,000 in Zone A, with one property of at least 120 square metres. Resale transaction costs add roughly 7–10%.

Rent, donation, fund, or deed

Malta MPRP rent combines about €99,000 of non-recoverable fees with €14,000 annual rent for five years. The buy route adds a €375,000 property that remains an asset. The main applicant must also show either €500,000 in assets including €150,000 financial assets, or €650,000 including €75,000 financial assets. MPRP grants permanent residence in Malta plus Schengen travel for 90 days in 180.

Portugal's dominant route is a €500,000 qualifying fund. The €250,000 cultural donation has a lower headline but is sunk. Fund capital is only potentially recoverable, subject to investment performance, liquidity, market and issuer risk.

All-in cost stack for a solo applicant

Sticker price is only the first line. Add State payments, government fees, legal process, transaction taxes, rent burn, and fund management before you rank routes. The table below is indicative for a solo main applicant using published programme floors and cited fee framing; it is not a quote.

Latvia's €10,000 State budget payment is non-recoverable even if the company equity later has value. Hungary's €250,000 sits in a qualifying real-estate fund share. Cyprus's €300,000 is first-sale property plus VAT. Greece Zone B needs about 7–10% on top of €400,000 for a resale. Malta rent burns fees and rent. Portugal fund capital can return at maturity subject to investment, liquidity, market and issuer risk.

When the cheapest route is the wrong buy

Do not buy Latvia or Italy solely because the sticker is low if you need a recoverable property narrative, a spouse paycheck on day one, or a passport clock under seven years. Latvia share capital is company risk. Italy innovative-startup capital can fail. Greece Zone B costs more but leaves a deed. Portugal fund costs more still but is built as an investment product with a maturity story.

Malta's asset test sits beside the property or rent choice: either €500,000 total assets including €150,000 financial, or €650,000 including €75,000 financial (S.L. 217.26 as amended). A household that clears the sticker but fails the asset test is not cheaper; it is ineligible. Cyprus requires at least one visit within every two-year absence window or the permit ends.

Greece thresholds remain a moving map: €250,000 only for conversion, restoration, or Elevate Greece startup; finished homes are €400,000 or €800,000 by zone with a single property of at least 120 m². Treat unfinished zone rules as a live diligence item, not a closed spreadsheet.