Americans Are Scrambling for European Residency, and Running Out of Options

In 2023, Americans had their pick of European golden visa programs. Today, the map is shrinking fast—and those still looking are racing to get in before the next door closes.

Spain shut its program in April 2025. Ireland closed in 2023. The UK ended its investor visa in 2022. Portugal eliminated real estate investments in 2023. For Americans seeking a Plan B in Europe, the options are running out.

"We've seen a 40% increase in American inquiries since 2023," said Dean Fankhauser, CEO of Movingto.com, which has processed over 2,500 golden visa applications with a 98% approval rate. "But the bigger shift is where they're going. Greece is now our fastest-growing destination."

Inquiries spiked again in late January 2026 following renewed debate over Greenland and shifting U.S. foreign policy. "Every time there's political uncertainty, our inbox fills up," Fankhauser said. "People want options."

The Greece Surge

After Portugal closed its real estate route, American investors pivoted hard to Greece—the last EU golden visa program still offering property-based residency at accessible price points. Greek applications from U.S. citizens nearly doubled year-over-year in 2025.

The appeal is straightforward: buy a property starting at €400,000 in most regions (€800,000 in Athens and major islands; €250,000 only for converted commercial or historic restoration projects), get residency for the whole family, and access the entire Schengen zone. With a golden visa law firm, processing takes 6-12 months—compared to 12-18 months for Portugal.

"Greece is where Portugal was five years ago," Fankhauser said. "But the government is already raising thresholds. Anyone waiting is paying more."

A tech executive from California who asked not to be named closed on an Athens apartment in November. "I'm not moving tomorrow," he said. "But I want the option. For me, for my kids. It's insurance."

Where Americans Are Applying (2025)

• Portugal — 62% share (-8% YoY) — €500,000 (funds) — 12-18 months processing
• Greece — 18% share (+94% YoY) — €400,000-€800,000 — 6-12 months processing
• UAE — 8% share (+120% YoY) — AED 2M (~€500,000) — 2-4 weeks processing
• Italy — 7% share (+12% YoY) — €500,000 (company shares) — 3-4 months processing
• Malta — 5% share (-3% YoY) — €170k-€475k (residency) — 4-8 months processing

The Real Reasons They're Leaving

Healthcare costs. Political exhaustion. Remote work freedom. The motivations vary, but the pattern is consistent: Americans with means are securing European residency as an insurance policy—whether or not they plan to move immediately.

For most, the Portugal golden visa remains the gold standard: a path to EU citizenship after five years (though pending legislation may extend this to 10 years), English widely spoken, and an established American expat community. But with processing times stretching past 18 months, patience is required.

Those who can't wait are choosing Greece. Those with bigger budgets are looking at Malta. And those who waited too long for Spain are learning an expensive lesson about timing.

Methodology: Based on 2,500+ visa applications processed by Movingto.com (2022-2025), filtered for U.S. passport holders.