Greece vs Portugal Golden Visa Compared

The Greek and Portuguese Golden Visa programs are two of Europe’s most popular residency-by-investment schemes. While both programs offer a pathway to residency and eventual citizenship, they differ in key aspects such as investment requirements, residency obligations, and the scope of benefits.

In this comparison article, we’ll take a look at what sets each Golden Visa scheme apart and also explore in-depth aspects such as:

• Investment options
• Residency requirements
• Application processes
• Family reunification
• Golden Visa validity

Greece vs Portugal Golden Visa Benefits

Both the Greece and Portugal Golden Visa programs offer a variety of mutual benefits that make them attractive options for non-EU nationals seeking residency and potential citizenship in Europe. These shared benefits highlight why these programs remain among the most popular residency-by-investment schemes in the world.

Visa-free travel: Golden Visa holders in both Greece and Portugal gain the ability to travel freely within the Schengen Zone. This includes visa-free access to 29 European countries, allowing for seamless movement for business, leisure, or family visits.

Residency: Both programs provide residency in an EU member state, granting the right to live, work, and study in Greece or Portugal. Residency can be maintained with minimal or no physical presence requirements, offering flexibility for global investors.

Access to healthcare and education: Residents in Greece and Portugal enjoy access to high-quality healthcare systems and public education. Additionally, international schools and private healthcare options are widely available, making both countries attractive for families.

Lifestyle and climate: Greece and Portugal are known for their Mediterranean climates, rich cultures, and high quality of life. Whether it’s the stunning beaches of the Greek islands or the vibrant cities and wine regions of Portugal, both countries offer excellent environments for relaxation, exploration, and leisure.

Stability and safety: Both Greece and Portugal are politically stable, secure countries with low crime rates, making them ideal for investors seeking safe and secure environments for themselves and their families.

Investment Options

For both Greece and Portugal, there are several Golden Visa investment options spanning a wide range of financial commitments.

Greek Golden Visa

The Greek Golden Visa allows non-EU citizens to gain residency in Greece by investing in real estate or other qualifying financial instruments.

To qualify for the Greek Golden Visa program, applicants must first have a clean criminal history and place an investment in Greece. Previously, a minimum value of €250,000 was required if placed in real estate.

However, the country’s Golden Visa has significantly changed in 2024, including the €800,000 qualifying real estate investment. This applies to purchases in northern and central provinces, the South Athens Attica region, and the municipalities of Thessaloniki, Mykonos, and Santorini. You can also invest in other Greek regions by purchasing a property worth €400,000.

The new tier system has brought forward increased minimum investment amounts as follows:

Portugal Golden Visa

Similar to Greece, the Portugal Golden Visa Program is a residency-by-investment initiative designed to attract foreign investors and their families to Portugal. Launched in 2012, it offers an easier way to residency and, eventually, Portuguese citizenship.

As of 2023, real estate investment is no longer eligible for the Portugal Golden Visa Program. However, other attractive investment options are still available that allow foreign investors a gateway to EU citizenship.

Residency Requirements

One of the main advantages of Greece’s Golden Visa program is that it does not require investors to physically reside in the country. Individuals can obtain and renew their residency permits without ever living in Greece.

This feature makes the program particularly appealing for those who want to keep their primary residence in another country while also holding Greek residency as a secondary option. Residency permits are issued for five years and can be renewed indefinitely as long as the investment is maintained.

In contrast, Portugal’s Golden Visa program requires a minimal physical presence for its holders. Applicants must spend at least seven days in the first year and 14 days during each subsequent two-year period.

This low residency requirement allows investors to maintain their residency status while causing minimal disruption to their existing lifestyle. Portugal’s approach effectively balances accessibility with the goal of fostering a connection to the country.

Application Cost

The Greek Golden Visa has relatively low application fees, making it cost-effective compared to other programs. The primary applicant pays a fee of €2,000, while dependents are charged €150 each. Additionally, legal and processing fees vary depending on the complexity of the application.

Portugal’s Golden Visa program involves higher fees. The application fee is approximately €605.10 per person, and residence permits cost €5,325 per person. While the upfront costs are higher than those of Greece, the benefits of EU residency and eventual citizenship often outweigh these expenses for many investors.

Family Reunification

The Greek Golden Visa program allows applicants to include their immediate family members in their residency permits.

This includes spouses, children under the age of 21, and dependent parents of both the applicant and their spouse.

Children can continue to renew their residency permits as dependents until they turn 24. After that age, they may need to switch to a different type of visa.

Similarly, Portugal’s Golden Visa program also extends residency rights to immediate family members, which includes spouses, children, and dependent parents.

One significant advantage of Portugal’s program is that it allows older children to be included, as long as they are financially dependent on the applicant and enrolled in an educational program.

This inclusive approach accommodates various family structures and needs.

Pathway to citizenship

The Golden Visa of both countries allows you to apply for citizenship after a specified time. However, there is a difference in how long you need to be a resident before going through the official citizenship application.

Greece

Greece provides a pathway to citizenship after seven years of continuous residence. To qualify, applicants must live in Greece for at least 183 days each year during this period.

Additionally, they must demonstrate their integration into Greek society by passing a Greek language test and showing a basic understanding of Greek culture and history.

Portugal

Portugal provides a faster route to citizenship, allowing individuals to become eligible after five years of maintaining an investment and meeting residency requirements.

Unlike Greece, applicants do not need to live in Portugal full-time to qualify. However, they must pass a basic Portuguese language test (A2 level) and demonstrate a clean criminal record. Portugal’s pathway to citizenship is widely regarded as one of the most accessible options for investors seeking EU citizenship.

Greece vs Portugal Golden Visa: How to Choose

Choosing between the Greek and Portuguese Golden Visa programs depends on your priorities. If you value a low investment threshold and minimal residency obligations, Greece may be the better option.

Conversely, if a faster path to citizenship and diverse investment options appeal to you, Portugal is likely the stronger choice. Both programs offer excellent opportunities for residency and eventual EU citizenship, making them attractive to a wide range of global investors.

Goldcrest: How We Can Help You 

Goldcrest is a buyer’s agent that is based in Lisbon. We provide expert, impartial advice on real estate investments and how to buy property in Portugal. From scouting out the perfect property through to property acquisition, we have you covered throughout the process.

If you are looking to purchase property in Portugal, don’t hesitate to get in touch. Our team of skilled experts is available to solve all your real estate doubts, helping you with the property search and offering insightful expertise and strategic advice.

Why choose Goldcrest?

• Local knowledge: With offices located across Portugal, our presence nationwide allows us to assist you personally across the country.
• Independent service: As an independent buying agent, we do not represent any development or project. Our service is entirely tailored toward each individual client, providing you with everything you need to secure the perfect property at the best possible price. As an impartial advisor on the market, we work solely on behalf of our client and provide a service tailored to your needs and requirements.
• Streamlined process: Our real estate agents speak English and Portuguese, and our service is completely focused on providing you with a hassle-free buying experience, saving you time.
• Experienced team: Our expert real estate team has a vast local knowledge of the Portuguese property market. We have cutting-edge technology and metasearch tools at your disposal to provide full market coverage, ensuring the best investment choices and negotiated prices.
• Network of partners: We have a close network of partners, including lawyers, property management services, builders, architects, designers, and landscape gardeners, again saving you time and hassle by providing you with trusted experts in their field of work.