What this tool compares
Several countries give a foreign buyer a residence permit, and one even citizenship, for buying property. The rules differ on the minimum price, what counts, how long the permit lasts, whether you must live there and where the years lead. This tool puts Georgia's two property routes next to ten open routes in eight other countries, using the wording of each country's own law or government page as checked on 2 and 3 November 2026.
Tick two to four routes to see them side by side, each cell dated and linked to its source. The filters mark which routes fit your budget, citizenship wish and time in the country; they hide nothing and rank nothing. Hungary and Thailand appear only in the full table: neither grants residence for buying property as such.
What each field means
- Budget and currency
- What you could spend on the property itself, converted into each route's currency at the National Bank of Georgia rates valid on 3 November 2026. Georgia's law asks for a value above the amount, so exactly USD 150,000 does not pass; the other texts set the amount as a minimum, except Mauritius, whose guidelines say both "exceeds" and "not less than", so exactly USD 375,000 shows as unclear. Malta's EUR 99,000 in contribution, fee and donation is added; purchase taxes are not. Leave the field empty to switch this filter off.
- Path to citizenship
- Compared with the years of residence each country requires before you may apply to naturalise; Turkiye's purchase route grants citizenship directly. Where no route exists or none is confirmed, the route does not pass.
- Time you can spend in the country
- Matched with each route's rule on presence; the Cyprus permit, for example, lapses after an absence of two years. An unconfirmed rule makes the route unclear, never "no requirement". Naturalisation years are years you live there, so with a citizenship wish only "I can live there" passes a naturalisation route.
- Closed routes and US dollar amounts
- The first adds five closed routes as columns; the second adds an approximate dollar figure under minimums in euros or dirhams.
All 19 routes in one table
The full data the tool reads, and the text version of the comparison, with amounts in the currency of each law. Georgian article letters follow the English translation on Matsne; the Georgian text marks 15(h), 15(j) and 15(k) with the letters თ, კ and ლ.
| Route | Status | Minimum | What counts | Permit | Stay rule | Permanent residence | Citizenship | Government fees | Purchase taxes | Checked, source |
|---|---|---|---|---|---|---|---|---|---|---|
| Georgia | ||||||||||
| Georgia: short-term residence permit (Aliens Law Art. 15(j)) | Open; threshold raised on 1 March 2026 | More than USD 150,000 market value, set by an accredited valuer | Non-agricultural property; combining several properties: not confirmed | 1 year, renewed yearly while you own it; no new valuation for the same property | No absence rule in the law | After 10 years on temporary permits; whether these years count: not confirmed | Naturalisation after 10 consecutive years, with exams | GEL 300 / 450 / 600 for a decision in 30 / 20 / 10 days | Registration GEL 150; no transfer tax (Tax Code, Arts. 5-6) | 2 November 2026: Aliens Law, PSDA |
| Georgia: investment residence permit (Aliens Law Art. 15(h)) | Open; amount not changed by the 2026 amendment | More than USD 300,000 market value, set by an accredited valuer | Non-agricultural property; reference letter needed; replaceable by one of equal or higher value | 5 years, no extension | No absence rule in the law | Permit for indefinite stay after 5 years of ownership (Art. 15(k), 16(5)) | Naturalisation after 10 consecutive years, with exams | GEL 300 / 450 / 600 | Registration GEL 150; no transfer tax (Tax Code, Arts. 5-6) | 2 November 2026: Aliens Law, PSDA |
| Other open routes | ||||||||||
| Greece: investor residence permit B.5 (Law 5038/2023 Art. 100) | Open; thresholds raised by Law 5100/2024 of 5 April 2024 | At least EUR 400,000; EUR 800,000 in Attica, the Thessaloniki, Mykonos and Thira (Santorini) regional units and islands over 3,100 people; EUR 250,000 for conversion to housing or restoring a listed building | One property of at least 120 m², fully paid; no short-term letting | 5 years, renewable while you keep it | None for renewal | Not confirmed | Naturalisation after 7 years, with exams | EUR 2,000 + EUR 16 card | Transfer tax 3% (3.09% with the municipal surcharge); a 15% rate for non-EU buyers from 1 July 2027 was announced on 6 September 2026 and is not law | 3 November 2026: Law 5038/2023 |
| Cyprus: Immigration Permit, Regulation 6(2) | Open; old criteria closed on 3 March 2026 | At least EUR 300,000 plus VAT; separate income test from EUR 50,000 a year | New homes from a developer or other real estate; money from abroad | Permanent; yearly proof you keep the investment | Settle within 1 year; lapses after an absence of 2 years | At once | 8 of the last 11 years, with Greek | EUR 500 + EUR 70 per person | Transfer fees 3% / 5% / 8% by band, halved on a sale without VAT and nil when VAT was paid; VAT 19%, or 5% for a main home (first 130 m², value up to EUR 350,000); stamp duty abolished from 1 January 2026 | 3 November 2026: Migration Department |
| Malta: Permanent Residence Programme (S.L. 217.26) | Open; regulations amended by Legal Notices 57 and 310 of 2024 and 146 of 2025 | Buy for at least EUR 375,000 (or rent from EUR 14,000 a year), plus EUR 99,000 in contribution, fee and donation | Residential property, held 5 years; capital of EUR 500,000 or 650,000 also required | Permanent; card renewed every 5 years | None stated | At once | Not confirmed | EUR 7,500 per adult dependant; card EUR 500 each | Not confirmed | 3 November 2026: S.L. 217.26 |
| Turkiye: short-term residence permit for owners (Law 6458 Art. 31) | Open; USD 200,000 since 16 October 2023, per two national newspapers (no official notice found) | At least USD 200,000, one figure nationwide | Your home, not let; some neighbourhoods closed to new foreign residents | Up to 2 years, renewable | Not confirmed | Long-term residence after 8 years | Naturalisation after 5 years of continuous residence | Card TRY 964 plus a fee by nationality | Title deed fee 2% buyer + 2% seller; VAT on a new home 1%, 10% or 20%, waived on its first sale to a non-resident foreigner paying in foreign currency (repayable if sold within 3 years) | 3 November 2026: Migration Management, Ekonomim, VAT Law Art. 13 |
| Turkiye: citizenship by property purchase (Law 5901 Art. 12) | Open; USD 400,000 since 13 June 2022 | At least USD 400,000 | Condominium units or land with a building; no sale for 3 years | Citizenship directly | None stated | Not applicable | Direct | Not confirmed | Title deed fee 2% buyer + 2% seller; VAT on a new home 1%, 10% or 20%, waived on its first sale to a non-resident foreigner paying in foreign currency (repayable if sold within 3 years) | 3 November 2026: Citizenship Regulation Art. 20, VAT Law Art. 13 |
| UAE (Dubai): 10-year Golden Visa for property investors | Open | At least AED 2,000,000; several properties may be combined | Dubai property, including off-plan from approved developers | 10 years, renewable (the u.ae portal says 5) | None; may stay abroad beyond 6 months | Not confirmed | Nomination only, no application route | AED 9,984.75; renewal AED 9,519.75 | Land Department fee 2% buyer + 2% seller | 3 November 2026: DLD Cube, ICP |
| UAE (Dubai): 2-year property investor visa | Open; no minimum for sole owners since about late April 2026 (exact date not confirmed) | No minimum for a sole owner; joint owners at least AED 400,000 each (was AED 750,000) | Completed Dubai property only | 2 years, renewable | Not confirmed | Not confirmed | Nomination only, no application route | AED 10,545; renewal AED 8,215 | Land Department fee 2% buyer + 2% seller | 3 November 2026: DLD Cube |
| Panama: permanent resident as qualified investor (Executive Decree 17 of 2026) | Open; new rules from 16 September 2026 | At least USD 300,000 (B/. 300,000) for a new property from a developer; USD 500,000 for resale | Value net of liens; money from abroad; held 5 years | Permanent residence directly | None stated in the decree | At once | Naturalisation after 5 consecutive years; original nationality renounced | B/. 5,000 + B/. 5,000 repatriation deposit; B/. 1,000 + 1,000 per dependant | Transfer tax 2%; who pays: not confirmed | 3 November 2026: Official Gazette 30613 |
| Mauritius: residence permit by property purchase (Economic Development Board schemes) | Open; 85% of a first-sale scheme price paid in rupees since 13 December 2024 | USD 375,000; the guidelines say both "exceeds" and "not less than", so the exact floor is not confirmed | Approved schemes or G+2 apartments only | Valid while you own the property | Not confirmed | Not through property | Not confirmed | Not confirmed | Registration duty 5% | 3 November 2026: Economic Development Board |
| Montenegro: temporary residence for property owners (Law on Foreigners Art. 56) | Open; EUR 150,000 floor from 17 January 2026 | Tax base of at least EUR 150,000 (non-EU owners); you own at least half | Houses, flats, villas, hospitality and business premises | Up to 1 year, renewable with proof property tax is paid | Not confirmed; for permanent residence, at most 10 months away in 5 years | After 5 years of continuous temporary residence, with basic Montenegrin and proof of taxes paid | Not confirmed | Not confirmed | Transfer tax since 1 January 2024: 3% up to EUR 150,000, then EUR 4,500 + 5% of the excess, and EUR 22,000 + 6% above EUR 500,000; a new build sold with VAT (21%) pays no transfer tax; yearly property tax 0.25%-1%, or 0.3%-1.5% for a second home | 3 November 2026: Official Gazette 3/2026, Transfer Tax Law 28/23, Property Tax Law |
| Closed routes | ||||||||||
| Portugal: golden visa (ARI), real estate options | Closed on 7 October 2023 (Law 56/2023) | No longer available | Remaining ARI options may not invest in property | Existing permits renewed as entrepreneur permits | - | - | Naturalisation after 10 years (7 for Portuguese-speaking countries and EU citizens) since 19 May 2026 | - | Non-residents: flat 7.5% transfer tax since 25 May 2026 (Decree-Law 97/2026; date by our reading of the default rule for undated acts); stamp duty 0.8%; Casa Pronta deed and registration EUR 375 (EUR 700 with a mortgage) | 3 November 2026: Law 56/2023, Organic Law 1/2026 |
| Spain: golden visa (Law 14/2013 Arts. 63-67) | Closed on 3 April 2025 (Organic Law 1/2025) | Was EUR 500,000 in property | - | Valid permits keep their validity; renewals follow the rules of the first grant | - | - | - | - | - | 3 November 2026: Organic Law 1/2025 |
| Latvia: residence permit for real estate | Closed on 15 September 2026 (new Immigration Law) | Was EUR 250,000 | - | Existing holders: repeat permits up to 5 years, EUR 1,000 per permit year | - | - | - | - | - | 3 November 2026: Immigration Law |
| Montenegro: citizenship by investment | Ended after 31 December 2022 (Government Decision, Official Gazette 79/2018 as amended) | Was EUR 250,000 or 450,000, plus EUR 100,000 to a fund | Approved development projects only | - | - | - | No longer available | - | - | 3 November 2026: Government Decision |
| Malta: citizenship by investment (2020 scheme) | Ruled contrary to EU law on 29 April 2025 (Case C-181/23); citizenship law amended by Act XXI of 2025, published 24 July 2025 | - | - | - | - | - | Content of the 2025 amendment: not confirmed | - | - | 3 November 2026: EU Court of Justice |
| Not property routes | ||||||||||
| Hungary: guest investor residence permit (Act XC of 2023) | Open, but not a property route | EUR 250,000 in registered real-estate fund units held 5 years, or a EUR 1,000,000 donation; buying property directly does not qualify | - | Up to 10 years, extendable once | None | - | - | - | - | 3 November 2026: Act XC of 2023 |
| Thailand: Long-Term Resident visa (Board of Investment) | Open, but not a property route | USD 1 million in assets, including USD 500,000 invested in Thailand, where Thai property can count | - | 10 years (5 + 5) | - | - | - | THB 50,000 per person | - | 3 November 2026: Board of Investment |
Closed or changed: what happened and when
Much of what is written online about these programmes is out of date. Transitional rules protect applications already filed.
| Route | What changed | In force, legal act |
|---|---|---|
| Portugal | Property options of the golden visa repealed; naturalisation from 5 to 10 years of residence | 7 October 2023, Law 56/2023; 19 May 2026, Organic Law 1/2026 |
| Spain | Golden visa, including EUR 500,000 in property, removed | 3 April 2025, Organic Law 1/2025 |
| Latvia | New Immigration Law has no real estate ground | 15 September 2026 |
| Montenegro | Citizenship programme ended; residence now needs a tax base of at least EUR 150,000 | After 31 December 2022; 17 January 2026, Official Gazette 3/2026 |
| Malta | Citizenship by investment found contrary to EU law; citizenship law amended | 29 April 2025, Case C-181/23; Act XXI of 2025 |
| Panama | USD 300,000 for new property, USD 500,000 for resale | 16 September 2026, Executive Decree 17 |
| Dubai, 2-year visa | AED 750,000 minimum removed for sole owners | Since about late April 2026 (exact date not confirmed), DLD Cube service rule |
| Georgia, short-term permit | From more than USD 100,000 to more than USD 150,000; transitional article for earlier holders not confirmed | 1 March 2026, Aliens Law amendment of June 2025 |
Assumptions
| Assumption | Value used | Sources |
|---|---|---|
| Exchange rates, GEL for 1 unit, valid 3 November 2026 | USD 2.5973; EUR 2.9108; AED 0.70713, so EUR 1 is about USD 1.1207 and AED 1 about USD 0.2723 | National Bank of Georgia, official rates |
| Budget test | Georgia: budget above the amount; Mauritius: equal is unclear; elsewhere: equal or above; for Greece and Panama the lowest tier counts, with a note on the tier reached; Malta adds EUR 99,000 | Wording of each law in the table above |
| Not confirmed | Shown without a number; an unconfirmed stay rule makes a route unclear for anyone who cannot live there | Our rule |
| Years to citizenship | Residence needed before you may apply; exams and other conditions come on top, and a permit with no stay rule does not by itself build those years | Citizenship laws cited in the table |
| Purchase taxes and fees | Not added to the budget | - |
How the filters work, with three examples
Each route faces three tests: budget against the minimum, citizenship wish against the years, and your time in the country against the stay rule. Failing any test gives "does not meet", with the reasons; passing all but an unconfirmed rule gives "unclear". Columns are ordered by the minimum in US dollars.
| Case | Meets all filters | What stops the others |
|---|---|---|
| 1. USD 200,000; wants citizenship, any length; an occasional visit; all 12 open routes | None | Georgia's short-term permit and Turkiye's residence permit pass on budget, but naturalisation counts years lived there; Dubai's 2-year visa and Montenegro have no confirmed citizenship path; the rest need more than the budget (EUR 178,460 or AED 734,603 after conversion) |
| 2. EUR 500,000; Greece, Cyprus, Malta and closed Latvia | Greece (not enough for the EUR 800,000 areas), Cyprus (income test still applies), Malta (EUR 474,000 including the EUR 99,000) | Latvia: closed to new applicants |
| 3. USD 120,000; no other filters; all 12 open routes | Dubai, 2-year visa (completed property, sole owner) | Budget below every other minimum; in Montenegro it is EUR 107,076 against EUR 150,000 |
Results from a test run of this page's own code. On a USD 200,000 budget, no route offers citizenship without living there.
Georgia's routes in detail: residence by property, the investment permit, permanent residence and citizenship; test your property with the residence permit checker.
Frequently asked questions
Does Georgia's property permit lead to citizenship?
Not by itself. Naturalisation needs 10 consecutive years of lawful residence, exams and a job, property or business in Georgia.
Why is Hungary not in the comparison?
Its guest investor permit accepts registered real-estate fund units or a donation; buying a home directly does not qualify.
Can I still apply in Portugal or Spain through property?
No. Portugal removed the property options on 7 October 2023 and Spain closed its golden visa on 3 April 2025.
What does "not confirmed" mean?
We could not read that rule in an official text on the check date. It does not mean the rule is absent.
Can I share my comparison?
Yes: the WhatsApp button sends your filters and the result for each route.
Change log
- - Tool published comparing Georgia's two property routes with ten open routes in eight countries and five closed routes, from official texts checked on 2 and 3 November 2026.