Property based routes are not refundable in the way a deposit is. You buy a real asset, hold it for a required period, then you may sell it. Whether you recover your money depends on the market and the rules, not on a refund.
Information, not advice. Figures are indicative and current as of June 2026. Always confirm the present rules with the official program authority and a licensed professional before you act.
A refund means money handed back, as with a cancelled booking. Real estate does not work that way. You own property, and you get your capital back only by selling, at whatever price the market gives you, after any required holding period.
So the honest answer is that real estate is potentially recoverable, not refundable. You could gain, you could lose, and the costs of buying and selling eat into the result.
Most property based residence routes require you to keep the qualifying investment for a set period, often around five years, and sometimes for as long as you want to keep the status. Selling early can cost you the residence permit.
Confirm the exact holding rule for any specific programme with its official authority, because the period and the conditions differ from country to country and change over time.
The picture has narrowed. Spain ended its golden visa in April 2025, and Portugal removed property as a qualifying route in 2023. Greece still runs a real estate route, repriced into regional tiers, administered by the Ministry of Migration and Asylum.
Because routes open and close, check whether a property based option still exists for your target country before you plan around it.
Government fees, legal fees, due diligence charges, transfer taxes and agent commissions are spent, not invested. Even when the asset itself is recoverable, these costs are not, so build them into any budget.
| Route type | Capital recoverable? | Holding rule |
|---|---|---|
| Real estate purchase | Possibly, by later sale at market price | Often about five years or longer |
| Investment fund | Sometimes, returned after a set term | Set by the fund and the programme |
| Government donation | No, the contribution is spent | Not applicable |
| Fees and taxes | No, these are costs | Not applicable |
Figures are indicative and current as of June 2026. Ministry of Migration and Asylum (Greece) publishes the binding detail. Verify before you act.
Often no, at least not until you reach permanent residence or citizenship. Many programmes require you to hold the qualifying asset for the life of the permit. Confirm the holding rule with the official authority.
Only if the market and your sale allow it. Real estate can rise or fall, and transaction costs reduce the net amount. There is no guaranteed return of capital.
Some fund routes are structured to return capital after a set term, and certain deposit based routes return the deposit, but none of this is risk free. Read the terms and confirm with the official authority.
Yes. Donation or contribution routes, and most government and professional fees, are spent and do not come back regardless of what happens to any asset.
Information, not advice. Figures are indicative and current as of June 2026. Always confirm the present rules with the official program authority and a licensed professional before you act.
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