Investor Golden Visas: Documented Routes Compared

Introduction

Investor golden visa routes are residence permits or statuses granted to foreign nationals who make qualifying investments in a country. The term is broad, and the structures vary significantly by jurisdiction. This article outlines the documented investor-related pathways from the visator.ir route library, covering Saudi Arabia, Portugal, Malta, North Macedonia, and Montenegro. All figures are government fees or investment thresholds as recorded in the data; they are not platform charges. Where the data does not specify a detail, you will be directed to the relevant country page rather than given a guess.

What an investor golden visa means

In the context of our route data, an investor golden visa typically involves a direct financial investment – whether into a business, real estate, a fund, or a state contribution – in exchange for a residence permit. Some programs grant permanent residence immediately, others require periodic renewal. Some lead to citizenship, while others explicitly do not. The following sections describe each documented route with its stated conditions.

Investor routes in Saudi Arabia

Saudi Arabia's Premium Residency program includes an Investor Category for foreign investors committing at least SAR 7,000,000 into Saudi economic activities. The application requires a valid MISA investment licence and the creation of at least 10 Saudi jobs within 2 years of approval. The government application fee is SAR 4,000. Successfully meeting these conditions grants permanent residency directly. The data notes that this category does not directly grant citizenship; naturalisation remains separate and discretionary.

Saudi Arabia also offers other Premium Residency tiers that are relevant to investors, including an Unlimited Duration option (a one-time-fee permanent residence permit without renewal), a Limited Duration option (annually renewable), a Real Estate Owner Category for property valued at least SAR 4 million, and Special Talent and Gifted categories. Each has its own conditions, but the Investor Category is the one explicitly tied to investment activity.

Portugal: the current investment categories

Portugal's Golden Visa, formally the Residence Permit for Investment Activity (ARI), has changed substantially. Real estate investment no longer qualifies following the Mais Habitação Law (Law 56/2023). The current documented qualifying routes include:

• Cultural heritage or arts donation – minimum €250,000, or €200,000 in low-density areas.
• Qualifying investment fund – the data confirms the route exists but does not specify a minimum amount; check the Portugal destination page for the current figure.

The ARI permit has a low physical-presence requirement and can lead to permanent residence after 5 years of legal residence. Naturalisation is generally possible after 5 years of legal residence, but note that an A2 Portuguese language certificate is required at the naturalisation stage, not for the residence permit itself.

Malta: two distinct programmes

Malta offers two documented routes that investors may consider, though they serve different purposes.

Malta Permanent Residence Programme (MPRP) – This is a residence-by-investment programme for non-EU/EEA nationals. It requires a qualifying property investment in Malta, a government contribution, a charitable donation, and an administration fee. Under Legal Notice 146, the administration fee is now EUR 60,000, paid in two stages: EUR 15,000 at submission and the remainder later. The programme grants an indefinite right to reside on approval. No language requirement is listed.

Global Residence Programme (GRP) – This is a tax residence status for non-EU/EEA/Swiss nationals, not a permanent residence permit. It offers a 15% flat tax rate on foreign-source income remitted to Malta, with a minimum annual tax of EUR 15,000. Applicants must hold a qualifying Maltese residential property (purchased or rented). The programme is administered by the Malta Tax and Customs Administration, and processing takes approximately 4 to 6 months after submission of a complete application. It does not lead directly to permanent residence or citizenship.

North Macedonia: what actually exists

North Macedonia does not have a statutory residence-by-investment or golden visa program. Two property-linked or business-linked routes are documented instead.

Property-Based Residence (EU/OECD Property Owners) – This route is available only to EU or OECD nationals who acquire ownership of an apartment, building, or house in North Macedonia. It is a statutory ground for temporary residence, renewable annually. Permanent residence is possible after 5 years of continuous legal residence, and naturalisation after 8 years (7 years reported in some practitioner sources). There is no language requirement for the permit, but basic Macedonian is required later for PR or naturalisation.

Investor / Company Director Residence Permit – This is a dedicated temporary residence permit for foreign nationals who are registered shareholders or managing directors of a North Macedonian company (DOO/LLC). The minimum company share capital is EUR 5,000. This route does not require a labour market test or educational qualification proof. The permit is renewable annually while the company is active, leads to permanent residence after 5 years of continuous qualifying temporary residence, and to citizenship after 8 years of continuous lawful residence. No language requirement is listed for the permit itself.

Montenegro: real estate won't count toward PR

Montenegro offers temporary residence for owners of real estate, but the November amendments set a minimum property value of EUR 200,000. This is explicitly a residence route, not a path to citizenship. Time spent under this ground is excluded from the 5-year permanent residence count, and the country's citizenship-by-investment program closed on 31 December 2022. The data states that processing occurs within 40 days, and the permit is renewable annually. No language requirement is listed.

Comparison of documented investment routes

The following table summarises the concrete, data-backed details for each country with an investor-relevant route.

Practical notes for reading the data

• All amounts shown are government fees or investment thresholds. They are not charged by visator.ir.
• Processing times, validity durations, and PR or citizenship timelines vary by program and are subject to change. Where the data does not provide a figure, we say so openly.
• Some routes, like Montenegro's real estate ownership, do not lead to citizenship and may even exclude time from the PR count.
• Always verify the latest requirements on the official country page or via the visator.ir destination pages, as program rules can be amended.

Where to go next

To explore the full range of residence and investment options, start with the destination pages for each country. Use the comparison tool to see documented routes side by side. If you are still deciding on a destination, the finder can help narrow down countries based on the criteria that matter to you.

The investor golden visa landscape is not uniform. What works in one country may not exist in another, and the documented conditions above are intended to give you an accurate reference – not a promise of approval. For current details, always consult the relevant programme authorities or the country pages on this platform.