Spain and Portugal both offer Portugal Golden Visa programs. If you are interested in residency by investment, you can consider applying for one of them. Furthermore, if you are wondering about the differences between them, we prepared this guide to help you understand and compare both programs.
You will discover what these programs allow you and what main features they have.
Spain vs. Portugal Golden Visa Programs: Comparison
Portugal is one of the most popular residency by investment programs in European countries. And Spain is another one. There were serious changes in Portugal Golden Visa program, which stopped accepting real estate purchases and real estate related funds. So, since October 2023, these have not qualified as investment options for the Portugal Golden Visa program. However, Portugal continues to accept other investment options that are eligible for the application of the program.
When it comes to Spain, it may be another option for European Golden Visa programs. You can reside, study, and work in Spain, and as in Portugal, your status may lead to permanent residency plus citizenship.
Spain vs. Portugal Golden Visa Programs: Benefits
Let us show you the comparison of both the Portugal Golden Visa benefits and Spain.
| Benefit | Portugal | Spain |
| Visa-free travel | 188 countries (including EU and Schengen) | EU Schengen countries |
| Citizenship eligibility | After 5 years of residency | After 10 years of residency |
| Residency requirement | 7 days per year on average | None |
| Family inclusion | Yes, simultaneous application | Yes, included in the program |
| Tax liability | Only if you spend more than 183 days per year in Portugal | Only if you spend more than 183 days per year in Spain |
| Education | Access to public services, including education | Wide spectrum of schools that cater to international students |
| Retirement | Favorable tax regime for non-habitual residents | Many pension schemes to choose from |
Spain vs. Portugal Golden Visa Investment Options
Here, you can see investment options and discover the minimum investment alternatives.
| Investment Type | Spain | Portugal |
| Real Estate | €500,000 | No longer available |
| Business Development | €1 million | €500,000 + 5 jobs or €350,000 + 8 jobs |
| Capital Transfer | €1 million | No longer available |
| Fund Subscription | Not available | €500,000 |
| Donation | Not available | €250,000 or €500,000 |
Spain vs. Portugal Golden Visa Requirements Comparison
Let us take you through the Portuguese Golden Visa Program and Spanish Golden Visa Program requirements.
| Requirement | Portugal | Spain |
| Investment options | Job creation, donation, business, research | Real estate, business development, capital transfer |
| Investment amount | €200,000 – €1,000,000 (depending on the option) | €500,000 – €2,000,000 (depending on the option) |
| Age | 18 or older | 18 or older |
| Criminal record | Clean | Clean |
| Health insurance | Required | Required |
| Financial means | Sufficient to support yourself and your family | Sufficient to live on without working in Spain |
| Residency status | Legal | Legal |
| Illnesses | None | None according to a 2005 regulation |
| Application process | Online application, biometric data collection, approval, issuance, renewal | Online application, biometric data collection, approval, issuance, renewal |
| Citizenship eligibility | After 5 years of residency | After 10 years of residency |
Portugal Golden Visa vs Spain Application Fees Comparison
See the application fees of Spain’s and Portugal’s golden visa program.
| Application Fees | Portugal Golden Visa | Spain Golden Visa |
| Initial application fee | €532.70 | €72.00 |
| Renewal fee | €532.70 | €18.82 |
| Issuance fee | €5,324.60 | €10.60 |
| Family member fee | €83.10 | €18.82 |
Portugal Golden Visa vs Spain Validity Period Comparison
We compared the Portugal Golden Visa Program and Spain Golden Visa Program’s validity periods below.
| Validity Periods | Portugal Golden Visa | Spain Golden Visa |
| Initial residence permit | 1 year | 1 year |
| First renewal | 2 years | 2 years |
| Second renewal | 2 years | 2 years |
| Permanent residence | After 5 years | After 5 years |
| Citizenship | After 5 years | After 10 years |
Portugal Golden Visa vs Spain Citizenship Comparison
See the criteria of Portugal and Spain for citizenship by investment through the golden visa program.
| Criteria | Portugal | Spain |
| Application processing time | 12 to 18 months | 20 business days |
| Timeline to citizenship | 5 years | 10 years |
| Physical stay requirements | 7 days in the first year and also 14 days in the following two-year periods | 183 days per year |
| Fast-track citizenship option | No | Yes, for nationals from former Spanish colonies |
Get Golden Visa: Who We Are and How We Can Help You
Get Golden Visa is a bespoke investment advisory firm. We help people get an additional residency and citizenship by making a qualifying investment through property acquisition, fund subscription, or other investment vehicles.
We offer our clients a tailor-made and transparent journey in their quest for Spain Golden Visa or Portugal Golden Visa.
Contact us and talk to one of our experienced team members to help you with any and all your questions.
Conclusion
The Golden Visa Program is a way for non-EU citizens to obtain residency and citizenship in Europe by investing in real estate or other sectors. Spain and Portugal are two of the most popular destinations among the countries that offer this program, as they have attractive climates, cultures, and lifestyles. The Portugal Golden Visa Program has several benefits, such as low minimum stay requirements, access to free healthcare and education, and the possibility of applying for Portuguese citizenship after five years. On the other hand, Spanish citizenship requires 10 years of residency and a language test, but it also grants the right to live and work anywhere in the EU.
As you can see, when it comes to Golden Visa programs, Portugal and Spain have both pros and cons. The ideal option will depend on your circumstances, goals, and personal preferences. We hope that this comparison post was helpful.
Frequently Asked Questions
Is it easier to get residency in Portugal or Spain?
It depends on the type of investment and the applicant’s personal circumstances. Both Portugal and Spain offer residency by investment programs.
Some of the main differences are as follows:
Portugal offers more investment options than Spain, such as venture capital funds, cultural production, scientific research, and job creation. Spain mainly focuses on real estate, government bonds, and business projects.
Portugal does not impose a minimum period of residence for the Golden Visa holders, while Spain requires them to stay in the country for at least 183 days per year.
Portugal offers a fast-track citizenship option after five years of residence, while Spain requires ten years of residence, except for nationals from former Spanish colonies.
Therefore, depending on the investor’s preferences, goals, and budget, one country may be easier than the other to obtain residency by investment.
Which EU country offers the cheapest Golden Visa?
The cheapest Golden Visa in the EU is offered by Malta, which launched its Permanent Residency Program in 2021. This program allows non-EU investors and their families to obtain permanent residency in the Schengen area for a minimum investment of €100,000, which includes a donation to government funds and a rental property. The program has no physical stay requirements and provides the possibility of applying for citizenship after five years of residence.
Other affordable Golden Visa programs in the EU are offered by Greece, Portugal, Latvia, and Ireland, with investment thresholds ranging from €250,000 to €500,000. These programs typically involve real estate purchases, but some also offer alternative options such as venture capital funds, government bonds, or donations. The benefits and requirements of each program vary, so investors should compare them carefully before making a decision.
How long can I stay in Spain if I have a Golden Visa?
Spain Golden Visa allows non-EU investors and their families to stay in Spain for up to three years, with the possibility of renewing the residence permit every five years. The initial visa is granted for one year and can be extended for two more years if the investor visits Spain at least once during that period. The investor can then apply for a long-term residence permit, which is valid for five years and can be renewed indefinitely.
The Golden Visa in Spain also grants visa-free access to the Schengen area, which includes 26 European countries. However, the investor can only stay in the Schengen area for up to 90 days within every 180 days unless they have a residence permit from another Schengen country.
Is it easier to get citizenship in Portugal or in Spain?
Portugal offers a quicker and easier route to citizenship than Spain for Golden Visa holders. Portugal allows investors to apply for citizenship after five years of residence, regardless of their nationality, as long as they meet the following requirements:
- They have a clean criminal record
- They have sufficient knowledge of the Portuguese language (A2 level)
- They have sufficient means of subsistence
- They have ties to the Portuguese community
Spain, on the other hand, requires investors to live in the country for ten years before they can apply for citizenship, except for nationals from former Spanish colonies, who can obtain a passport within two years of residence. The requirements for Spanish citizenship are:
- They have a clean criminal record
- They have sufficient knowledge of the Spanish language (DELE A2 level)
- They have passed the CCSE test on Spanish culture and constitution
- They have renounced their previous nationality, unless they are from a country that allows dual citizenship with Spain
How long does it take to get the residence permit for Portugal and Spain Golden Visa Programs?
Spain has a faster and simpler application process than Portugal, with an average processing time of 2 to 3 months. Portugal can take up to 12 to 18 months to process the application, and requires more documents and fees.
What are the physical stay requirements for Portugal and Spain Golden Visa Programs?
Spain requires a minimum stay of 183 days per year to maintain the residency status and apply for citizenship. Portugal only requires 14 days every two years to keep the residency status, and 7 days per year to apply for citizenship.
What are the tax benefits for Portugal and Spain Golden Visa Programs?
There is a special tax regime for non-habitual residents in Portugal, granting a flat income tax rate of 20% for certain professions and tax exemptions for foreign income sources. Spain does not have a similar scheme, but it offers some tax incentives for new residents, such as exemption from wealth tax and inheritance tax for the first five years.
What is the comparison of Spain vs Greece Golden Visa?
If you want a detailed comparison of both countries’ golden visa programs, you may check out “Spain vs Greece Golden Visa“.
