Portugal vs Greece Golden Visa

Greece vs. Portugal Golden Visa

Updated: 21 February 2024

Some European countries provide residency by investment program. Portugal Golden Visa and Greece Golden Visa are among the most popular options.

Portugal’s Golden Visa offers a variety of investing investment alternatives. Another appealing alternative is the Greece Golden Visa, which provides investors and their families with a low-cost path to permanent EU residency. Non-EU citizens may apply for programs in Greece and Portugal.

Let’s see the comparison of two golden visas and have a broad picture of what they offer.

Greece vs. Portugal Golden Visa Benefits

If you are looking for a way to enjoy the benefits of living in Europe, you may want to consider the Greece or Portuguese Golden Visa programs.

BenefitPortugalGreece
Visa-free travelYes, within EuropeYes, visa-free travel with Greece residence permit
Citizenship eligibilityYes, within five yearsYes, minimum seven years
Residency requirementSeven days per year on averageNone. If you are attempting to obtain citizenship or permanent residency, as an investor, you are required to reside in Greece for at least 183 days a year.
Family InclusionYes, simultaneous application is possibleYes, you can include your family
Tax liabilityIn case you spend more than 183 days per year in PortugalIf you have lived in Greece for at least 183 days
EducationAccess to public educationHigh standards of education, access to free education.

Greece vs. Portugal Golden Visa Programs Investment Options

Portugal Golden Visa or the Greece Golden Visa programs offer different investment options that can qualify you for a long-term visa and, eventually a passport.

Both programs require you to maintain your investment and visit the country periodically to renew your visa every five years.

Investment TypeGreecePortugal
Real EstateMinimum €250,000 in order to purchase a real estate property in Greece.
Minimum €500,000 in order to purchase a real estate property in municipalities.
No longer available
Business DevelopmentNot available€500,000 + 5 jobs or €350,000 + 8 jobs
Government Bonds€400,000 in Greek government bondsNot available
Fund SubscriptionNot available€500,000
DonationNot available€250,000 or €500,000
Shares and Bonds€400,000 in shares or bonds of real estate investment companies, venture funds, or private equity in GreeceNot available

Other Investment Options for Greece Golden Visa

A minimum investment of €400,000 in Greek government bonds.

  • Shares or bonds of real estate investment companies in Greece
  • Shares and bonds of venture funds and private equity companies with headquarters in Greece.

Greece vs. Portugal Golden Visa Requirements Comparison

The program grants Portugal Golden Visa holders the possibility of residency and citizenship rights to foreign investors who meet certain criteria. One of the main advantages of this program is the low residence requirement. You only need to spend an average of seven days per year in Portugal to maintain your visa status. The initial visa is valid for two years, and you need to stay for at least fourteen days within that period. The same applies to the subsequent renewals, which are also valid for two years each.

To qualify for the Portugal Golden Visa, you need to make and maintain a qualified investment for at least five years. You can choose from different options, such as real estate, investment funds, or donations. You also need to provide proper documentation to prove your identity, your investment, health insurance, criminal record, and your tax and social security compliance. All the documents need to be legalized and translated into Portuguese. You also need to pay the related fees, which include the processing fee, the initial and renewal application fees, and the legal fee. These fees vary depending on the type and amount of your investment.

RequirementPortugalGreece
Investment optionsJob creation, donation, business, researchReal estate investment, other investment options (A minimum of €400,000 investment)
Age18 or older18 or older
Criminal recordCleanClean
Health insuranceRequiredRequired
Financial meansSufficient to support yourself and your familySufficient to cover your living expenses in Greece
Residency statusLegalLegal
IllnessesNoneNone
Application processOnline application, biometric data collection, approval, issuance, renewalApply for a national visa, enter Greece and finalize your investment, collect the required documents, submit the documents to the local authorities, receive your residence permit
Citizenship eligibilityAfter five years of residencyAfter seven years of residency

Greece Golden Visa vs Portugal Application Fees

Fee TypeGreecePortugal
Application fee€2,000 per main applicant and €500 per family member€532.70 per main applicant and €83.10 per family member
Residence permit fee€16 per applicant€5,147.80 per applicant
Legal feeVaries depending on the lawyer, but usually around €5,000Varies depending on the lawyer, but usually around €10,000
Translation feeVaries depending on the language and the number of documents, but usually around €100 per documentVaries depending on the language and the number of documents, but usually around €100 per document
Tax feeVaries depending on the type and value of the investment, but usually around 3% for real estateVaries depending on the type and value of the investment, but usually around 6.5% for real estate
Other administrative costsVaries depending on the type and value of the investment, but usually around €1,000 for real estateVaries depending on the type and value of the investment, but usually around €2,000 for real estate

Greece Golden Visa vs Portugal Validity Period

Validity TimeGreecePortugal
Initial visaOne yearFour months
First renewalTwo yearsOne-year
Second renewalTwo yearsTwo-years
Long-term residenceAfter five yearsAfter five years
CitizenshipAfter seven yearsAfter five years

Conclusion

The Greece Golden Visa and the Portugal Golden Visa are two appealing initiatives that grant international investors residency and citizenship advantages in Europe.

Both programs provide investment possibilities, including real estate, government bonds, and donations, to fit different preferences and budgets. However, they have various standards and obligations that investors must be aware of and adhere to.

With programs having advantages and disadvantages, as an investor, try to consider your personal and financial goals.

You may also discover Spain vs Greece Golden Visa programs and see the comparisons between them.

Frequently Asked Questions

Can I obtain an EU passport by applying to the Greece or Portugal Golden Visa program?

Yes, both programs offer a path to EU citizenship after a certain period of residency. However, the Portugal Golden Visa program has a simpler and faster process, as it only requires an average of seven days to stay in Portugal per year and allows you to apply for citizenship after five years. The Greece Golden Visa program requires you to maintain your residency for seven years before applying for citizenship, and you may need to pass a Greek language test and prove your ties to the country.

Lifestyle in Portugal vs Greece: where to live?

Both Portugal and Greece have a lovely climate, beautiful beaches, a laid-back culture, and a low cost of living. However, they also have some differences that may appeal to different preferences. Portugal has a more diverse landscape, with mountains, forests, and vineyards, as well as a vibrant and cosmopolitan capital, Lisbon. Greece has a more ancient and rich history and culture, with stunning monuments, museums, and islands. Portugal has a better infrastructure, public services, and safety, while Greece has a more relaxed and informal atmosphere.

How is healthcare in Portugal vs Greece?

Both Portugal and Greece have public and private healthcare systems that offer quality and affordable services to residents. Portugal also has a more favorable tax regime for foreign investors and retirees, with a flat tax rate of 20% for personal income and a special tax regime for non-habitual residents.

Which one is faster: Greece Golden Visa or Portugal Golden Visa?

Greece’s Golden Visa program has a faster processing time than the Portugal Golden Visa program, as it can take as little as two months to obtain the residence permit, compared to four to six months in Portugal. However, the Portugal Golden Visa program has a faster path to citizenship, as it only requires five years of residency and a minimal stay requirement, compared to seven years and a possible language test in Greece.

Who is eligible to apply for Greece and Portugal Golden Visa?

Both programs are open to non-EU citizens who make a qualifying investment in the respective country. The minimum investment depends on type and location of the investment, but generally, the Greece Golden Visa program has a lower threshold than the Portugal Golden Visa program.

What are the similarities between Portugal vs Greece Golden Visa?

  • The right to live, work, and study in the country of residence;
  • The right to travel visa-free within the Schengen Area;
  • The possibility of applying for EU citizenship after a certain period of residency;
  • The inclusion of spouse, dependent children, and parents in the application;
  • The option to choose from different types of investments, such as real estate, funds, business, or capital transfer.
Subscribe
Notify of

0 Comments
Inline Feedbacks
View all comments

Subscribe to our newsletter