Golden visa programs have emerged as an attractive option for individuals seeking residency and investment opportunities in the European Union (EU). Among these programs, Greece and Portugal stand out as popular choices. This article delves into a comprehensive comparison of the Greece and Portugal Golden Visa programs to help you make an informed decision.
| Benefit | Portugal | Greece |
| Visa-free travel | Yes, within Europe | Yes, visa-free travel with Greece residence permit |
| Citizenship eligibility | Yes, within five years | Yes, a minimum of seven years |
| Residency requirement | Seven days per year on average | None. 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 Inclusion | Yes, simultaneous application is possible | Yes, you can include your family |
| Tax liability | In case you spend more than 183 days per year in Portugal | If you have lived in Greece for at least 183 days |
| Education | Access to public education | High standards of education, and access to free education. |
Visa-Free Travel:
Both Greece and Portugal offer visa-free travel within the Schengen Area, granting access to 26 European countries. This mobility perk is a significant advantage for individuals seeking to explore Europe and enjoy the freedom of movement.
Path to Citizenship:
Portugal offers a faster route to citizenship compared to Greece. It is easier to obtain citizenship in Portugal, as it is possible after five years without residency requirement. In Greece, you will need to wait at least seven years with a permanent residency requirement in the country.
Residency Requirements:
Greece has a more flexible residency requirement. While both countries allow adding family members to the application, Greece does not impose a mandatory stay requirement to maintain residency. Portugal, on the other hand, requires a minimum stay of seven days in the first year and 14 days every two years afterward.
Education Benefits:
Both Greece and Portugal offer access to quality education. Greece boasts a high level of education with opportunities for free education, while Portugal provides access to public education.
Processing Time and Visa Validity:
Greece offers a faster processing time for visa applications, typically taking two to three months, compared to four to six months for Portugal. However, Portugal’s visa validity is initially shorter, with a four-month initial visa compared to Greece’s one-year visa. Renewal periods are similar, with two-year renewals for both countries, followed by permanent residency after five years. Citizenship can be obtained after five years in Portugal and seven years in Greece.
| Validity Time | Greece | Portugal |
| Initial visa | One year | Four months |
| First renewal | Two years | One-year |
| Second renewal | Two years | Two-years |
| Long-term residence | After five years | After five years |
| Citizenship | After seven years | After five years |
Investment Requirements:
Greece offers a lower minimum investment threshold compared to Portugal. Greece requires a minimum real estate investment of €250,000, which can be split among various properties. Portugal, on the other hand, has a minimum investment of €500,000 for real estate, with options to invest in fund investments, business creation, or donations.
| Requirement | Portugal | Greece |
| Investment options | Job creation, donation, business, research | Real estate investment |
| 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 cover your living expenses in Greece |
| Residency status | Legal | Legal |
| Illnesses | None | None |
| Application process | Online application, biometric data collection, approval, issuance, renewal | Apply 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 eligibility | After five years of residency | After seven years of residency |
Application Process:
The application process for both programs involves meeting age, criminal record, and financial resource requirements. Greece’s application process involves submitting an application, traveling to Greece to complete the investment, gathering documents, presenting documents to local authorities, and receiving a residence permit. Portugal’s process involves an online application, biometric data collection, approval, issuance, and renewals.
Investment Options:
Both programs offer diverse investment options. Greece primarily focuses on real estate investments with a minimum threshold of €250,000, while Portugal offers a wider range of options, including real estate, business creation, government bonds, investment funds, and donations.
| Investment Type | Greece | Portugal |
| Real Estate | The minimum is between 250 and 800 thousand euros, depending on the region. | No longer available |
| Business Development | Not available | €500,000 + 5 jobs or €350,000 + 8 jobs |
| Government Bonds | €400,000 in Greek government bonds | Not available |
| Fund Subscription | Not available | €500,000 |
| Donation | Not 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 Greece | Not available |
The choice between the Greece and Portugal Golden Visa programs depends on individual priorities and investment goals. Greece offers a faster processing time, lower minimum investment thresholds, and no mandatory stay requirement, while Portugal provides a faster path to citizenship, more diverse investment options, and a shorter initial stay requirement.
