The Golden Visa Spain vs. Greece comparison is an important consideration for investors. However, Spain’s Golden Visa program has ended and is no longer available to new applicants. With Spain’s closure, Greece has become a top choice for investors looking for residency through property ownership. Greece’s real estate investment requirement ranges from €250,000 to €500,000, depending on the location, while offering Schengen travel, family inclusion, and a clear path to residency and citizenship.
Both countries are known for their relaxed lifestyle, stunning landscapes, rich cultural heritage, and mild climate. However, despite the end of the Spanish Golden Visa, there are other Spanish residency options and alternative European Golden Visa programs to consider and compare.
This guide will compare Spanish and Greek residency options, as well as alternative European Golden Visas, to help you choose the best fit.
Here’s what we’ll cover below:
Protection for Existing and Pending Applications
Investors and family members who submitted applications before the April deadline will remain unaffected. They will retain all benefits and renewal rights under the program’s current rules. Existing Golden Visa holders will also maintain their rights.
Alternative Residency Options
The Portugal, Italy, Greece, Cyprus, and Malta Golden Visas are great alternatives for investors looking for a European residency permit without a stay requirement.
For those seeking to live in Spain, the Non-Lucrative Visa and the Digital Nomad Visa are excellent options.
Spain Golden Visa vs. Greece Golden Visa: The Benefits
Since ending its Golden Visa program, Spain remains a top destination for investors and expats. It ranks first in Global Citizen Solutions’ Digital Nomad Visa Index 2025, while Greece takes the top spot in their latest Global Residency and Citizenship by Investment Report
| Benefit | Greece Golden Visa | Spain Golden Visa |
|---|---|---|
| Visa-free travel to Schengen | Yes | Yes |
| Right to live, work & study | Yes | Yes |
| Family reunification Yes (spouse, children, parents, parents-in-law) | Yes (spouse, children, parents, parents-in-law) | Yes (spouse, children, parents) |
| Healthcare & education access | Yes | Yes |
| Tax benefits | Favorable Greece flat tax regime for retirees and Golden Visa holders . | No tax obligations unless spending 183+ days/year in Spain |
| Investment options | Real estate, business investment, shares, bonds, mutual funds, deposits | Real estate, public debt, public & private shares, funds, venture capital, business investment |
| Minimum stay requirement | None | None |
| Citizenship eligibility | 7 years of residence + citizenship test | 10 years of residence + A2 Spanish test + culture/constitutional test |
Greece vs. Spain Golden Visa Investment Options
Greece and Spain have both offered a range of investment pathways under their Golden Visa Programs. While the Spanish Golden Visa has officially ended, the options below reflect its former investment routes for comparison. Greece continues to offer several active investment options, making it an attractive choice for investors interested in residency with real return potential. Here’s a breakdown of the Greece vs. Spain Golden Visa investment options.
| Investment Type | Spain (Program Ended) | Greece |
|---|---|---|
| Real Estate Investment | Minimum €500,000 | €250,000 – €800,000 |
| Business Development | Minimum €1,000,000 | Not available |
| Capital Transfer | Minimum €1,000,000 | Not available |
| Lease Agreement | Not available | Minimum €250,000 |
| Other Investments | Not available | Minimum €400,000 |
Former Spain Golden Visa investment options
The Spain Golden Visa ended on April 3 2025, but these were the program’s former investment options.
- Real estate (€500,000): Previously, the most popular route for residential or commercial property.
- Business investment (€1 million): For creating or expanding a business in Spain, especially in priority sectors.
- Capital transfer (€1 million): Into bank deposits, investment funds, or venture capital funds.
- Public debt (€2 million): Investment in Spanish government bonds offering a secure, passive option.
Greece Golden Visa investment options
Real Estate Investment in Greece:
The Greece Golden Visa offers real estate investment options divided into different tiers, with minimum amounts depending on the location and type of property.
- Tier one: Buy a property for €800,000 (Administrative Region of Attica, Thessaloniki, Mykonos, Santorini, and islands with populations exceeding 3,100).
- Tier two: Buy a property worth €400,000 (Rest of Greece).
- Tier three: For commercial property to be converted for residential use, the minimum investment is €250,000, regardless of the property’s size or location.
- Tier four: The same €250,000 threshold is in place for the restoration of a listed building, with renovations needing to be completed within five years of Greek residency.
Leasing agreement for Greece Golden Visa
Both Tier One and Two real estate investment options are restricted to single properties with a minimum area of 120m². To meet the requirements for leasing property in Greece for the Golden Visa, you must sign a ten-year lease or time-share agreement for hotel accommodation or furnished tourist residences within designated tourist resorts, equivalent to the cost of buying.
Other Investment options
- €400,000 investment in Greek company shares or bonds, real estate investment companies, or business-focused mutual funds.
- €500,000 investment in Greek government bonds or a term deposit.
- €350,000–€800,000 investment in mutual funds, corporate bonds, or EU-based funds that focus on Greek real estate.
Greece vs. Spain Golden Visa Requirements
Both the Greek and Spain Golden Visa have the following requirements:
- Applicant must be over 18 years old.
- Must make and prove a qualifying investment.
- Must have a clean criminal record.
- Must not be listed as undesirable by the country.
- Must have valid medical insurance and a health certificate.
- Must not have been denied visas or entry into the Schengen Zone.
- Must have sufficient funds to support themselves and their family in Spain.
These are the minimum requirements for obtaining a Spanish or Greek Golden Visa; additional criteria may apply depending on your home country. Applications for the Spanish Golden Visa were handled by the Ministry of Inclusion Social Security, and Migration, and the relevant Spanish consulates abroad, while applications for the Greek Golden Visa are processed through the Hellenic Ministry of Migration and Asylum.
Spain vs Greece Golden Application Process
- Choose your qualifying investment
- Gather required documents
- Obtain the required national identification: Spain: obtain an NIE (Foreigner Identification Number)
- Greece: obtain a Greek tax number (AFM) and open a local bank account if needed
- Complete your investment and collect proof of ownership
- Submit your Golden Visa application to the consulate of the respective country
- Biometrics appointment in Spain or Greece.
- Receive a residence permit: Spain: residence permit issued for 3 years. Greece: residence permit issued for 5 years
Spain Golden Visa vs Greece validity
| Validity Stage | Greece Golden Visa | Spain Golden Visa |
|---|---|---|
| Initial visa | 1 year | 1 year |
| Renewal | 2 years (renewable every 2 years as long as investment maintained) | 2 years (renewable every 2 years as long as investment maintained) |
| Long-term residence | Eligible after 5 years of continuous legal residence | Eligible after 5 years of continuous legal residence |
| Citizenship | Eligible after 7 years of legal residence, must pass language and citizenship tests | Eligible after 10 years of legal residence, must pass language and cultural tests |
Spain vs Greece Golden Application Fees
| Fee Type | Spain Golden Visa | Greece Golden Visa |
|---|---|---|
| Government Fees | €70–€100 for application and residence card issuance per person | €2,000 for the main applicant + €150 per family member |
| Legal Fees | Typically €5,000–€10,000 depending on the law firm | Usually €5,000–€7,000 depending on the law firm |
| Notary & Administrative Fees | Around €1,000–€2,000 | Approximately €1,500–€2,000 |
| Property Taxes / Transfer Fees | 6–10% of property value (varies by region) | 3% property transfer tax |
| Other Costs | Translation & document certification (€200–€500) | Additional costs may include legal fees and notary fees, typically amounting to 8-10% of the total investment. |
| Annual / Renewal Fees | Renewal every 2 years about €80 per card | Renewal every 5 years about €500 per card |
Alternative Spanish Residency Options
Although the Spanish Golden Visa has expired, several alternative routes remain available for obtaining Spanish residency.
Spain Digital Nomad Visa
The Spain Digital Nomad Visa, introduced in 2023, allows non-EU and non-EEA remote workers and freelancers to live and work in Spain for one year, with the option to extend for up to five years. To qualify, applicants must earn at least €2,763 per month, have private health insurance, and work for a company outside Spain or operate as self-employed professionals or freelancers.
Spain Non-Lucrative Visa
The Spain Non Lucrative Visa provides residency for non-EU citizens who want to live in Spain without working. It is ideal for retirees or individuals with stable passive income. Applicants must show that they can support themselves with non-employment income, such as pensions or rental earnings. The minimum monthly income requirement is €2,400.
Spain Highly Qualified Visa
The Spain Highly Qualified Visa is designed for professionals who have specialized skills and a confirmed job offer in Spain. It is suitable for senior executives, technical experts, and individuals hired for high-level roles. Applicants must present proof of professional qualifications, an employment contract with a Spanish company, and evidence that the position requires advanced expertise.
Taxes for Non-Residents: Spain vs Greece
Both Greece and Spain have tax regimes that benefit non-residents. Greece offers a special flat tax regime that allows high-net-worth individuals and retirees who become tax residents to pay a fixed €100,000 per year on global income, providing long-term tax predictability. Spain’s “Beckham Law,” also known as the Spain Special Expat Tax Regime, provides a reduced income tax rate for foreign workers relocating to the country, making it an attractive option for expatriates.
| Feature | Greece | Spain |
|---|---|---|
| Tax Incentive | Special Flat Tax Regime | “Beckham Law” – Special Tax Regime for Foreign Workers |
| Overview | Flat tax of €100,000 per year on global income for HNWI and retirees. Lasts 15 years. Excludes Greek gift and inheritance tax. | Reduced income tax rate of 24% for the first six years for eligible foreign workers relocating to Spain. |
| Eligibility Requirements | Must not have been Greek tax resident for 7 of the last 8 years. Must invest a minimum of €500,000 in Greece (real estate, shares, bonds, or mutual funds). | Must be a foreign employee, relocating to Spain for work. Income must be paid by a Spanish employer or foreign employer with Spanish assignment. |
| Family Inclusion | Yes – spouse and dependent children can be included. Additional investment: €20,000 per child. | Yes – spouse and dependent children can be included. No extra cost beyond standard application fees. |
| Cost for Family | €20,000 per child for investment addition. | Standard application fees apply; no extra cost for tax regime. |
Other European Golden Visas Comparison
| Feature | Malta MPRP | Greece Golden Visa | Cyprus Golden Visa | Portugal Golden Visa | Italy Golden Visa |
|---|---|---|---|---|---|
| Global RCBI report ranking | 2nd | 1st | 8th | 5th | 6th |
| Minimum Investment | Rent €14,000/yr 5 yrs or Buy €375,000 + €37,000 contribution + €2,000 donation | €250,000 – €500,000 real estate | €300,000 in real estate, shares, or fund + €300,000 bank deposit | €500,000 fund or €250,000 cultural/art project | €2M gov bonds, €500K company, €250K startup, €1M donation |
| Family Inclusion | Spouse, children, parents, grandparents (up to 4 generations) | Spouse, children | Spouse, dependent children, parents | Family reunification | Spouse, dependent children |
| Residency requirement | None | None | None | Avg 7 days/year | Initial 2 yrs, renewable for 3 yrs |
| Key benefits | Permanent residency, Schengen access, multi-generational | Schengen travel, renewable, potential start-up investment | Permanent residency, low-cost, flexible | Path to permanent residency & citizenship | Leads to long-term residency & citizenship, multiple investment options |
How Can Global Citizen Solutions Help You?
Global Citizen Solutions is a boutique migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments.
We guide you from start to finish, taking you beyond your citizenship or residency by investment application.
