The Greece vs Portugal Golden Visa are both designed for non-EU citizens and offers Golden Visa programs with multiple investment options, allowing foreign investors and their families to live legally in the European Union. The application process involves choosing a qualifying investment, gathering legal documents, submitting biometrics, and attending an interview or appointment with immigration authorities.
The Greece Golden Visa program generally offers a faster processing time and lower initial investment compared to the Portugal Golden Visa program, particularly since Portugal removed property as an investment option, but Portugal has a faster path to citizenship.
Both programs offer visa-free travel within the Schengen Area and the possibility of applying for EU citizenship after a certain period of residency. But with so many attractive advantages, which program should you choose? This article breaks down the Greece vs Portugal Golden Visa program to help you decide which one to choose.
Inside, you’ll find:
⚠️ Portugal Nationality Law Changes 2025
On June 23, 2025, the Portuguese Government announced plans to amend the Nationality Law and the legal framework governing immigration. The proposals have passed the plenary vote on October 28, 2025, which marks a significant step forward in the legislative process.
Among the measures under discussion are an increase in the residence requirement for nationality from five years to ten years – seven years for nationals of CPLP and EU countries – and a change to how residency time is calculated, so that the clock would start when residency is issued rather than when the application is submitted.
These changes are not yet law. They must still undergo Presidential review. At that stage, the President may promulgate the law, issue a veto, or request a review by the Constitutional Court. The final text may still be amended, including any transitional provisions or possible grandfathering rules, but they might not be enacted because the law is not final until its promulgated.
For the latest information regarding these changes, read Portugal Nationality and Citizenship Changes 2025
Greece vs Portugal Golden Visa Overview
The Greece and Portugal Golden Visa programs both offer residency in exchange for investment, but they differ in investment options, processing times, and the path to citizenship. Portugal’s program has been more popular historically, but recent changes have eliminated real estate investment options and are making it a less attractive option for some. Greece, on the other hand, continues to offer real estate investment options and has faster processing times.
Portugal’s Golden Visa program
Launched in 2012, Portugal’s Golden Visa quickly became one of Europe’s most sought-after residency-by-investment schemes. The program grants residency rights to non-EU nationals who make a qualifying investment in Portugal. Once approved, investors gain the right to live, work, and study in Portugal, as well as visa-free access to the Schengen Area.
One of its most attractive features is flexibility. Applicants only need to spend an average of seven days per year in Portugal to maintain their residency, making it ideal for those who don’t plan to relocate immediately. After five years, Golden Visa holders can apply for permanent residency or citizenship, opening the door to full EU citizenship and the ability to live and work anywhere in the European Union.
Greece’s Golden Visa program
Introduced in 2013, Greece’s Golden Visa program offers one of the most affordable pathways to residency in Europe. Investors can secure a residence permit by making a qualifying real estate investment, with thresholds starting significantly lower than many other EU residency programs.
The Greek Golden Visa grants the right to live in Greece and travel visa-free within the Schengen Area. Unlike Portugal, Greece does not require any minimum stay to maintain residency, making it especially appealing for investors who prefer complete flexibility. However, Greece’s path to citizenship is longer and more demanding, typically requiring seven years of residency and proof of integration into Greek society.
| Program Characteristics | Greece Golden Visa | Portugal Golden Visa |
| Application Time | One to three months | More than 24 months |
| Global Passport Index | 42nd | 24th |
| Time to Citizenship | Seven years | Five years (as of mid-2025) |
| Qualifying Investment | The minimum investment for real estate is € 250,000, while it ranges from € 400,000 to €800,000 in certain areas. Other options include €500,000 in a Greek company, real estate investment firm, or closed-end fund, €800,000 in listed shares or bonds, or €500,000 in Greek government bonds. | Minimum investment of €250,000 in cultural and national heritage funds, or a minimum investment of €500,000 in a business startup, scientific research, or private equity funds. |
| Tax Benefits | Non-domicile for tax residents in Greece | None |
| Residence Requirement | No requirement | Seven-day requirement in the first year and 14 days every two years after |
| Ability to Work | No, unless you set up your own business | No |
| Family Eligibility | Spouse, children under 21 years old, and parents of the main applicant and spouse. | Spouse and dependent children under 25 years old or currently completing studies. |
Greece vs Portugal Golden Visa Benefits
Invest and get residency in Europe
Freedom of mobility in the Schengen area
Family members and dependents are eligible
Attractive investment opportunities
Ability to receive an EU passport
Golden Visa Investment Options
Greece’s Golden Visa investment options
The Greek Golden Visa offers diverse investment options that qualify applicants for residency. The program provides flexibility to invest in real estate with four different tiers as well as in intangible investments like bonds, funds, or business contributions.
- Tier 1: Invest €800,000 in a property of at least 120 square meters in high-demand areas like Athens, Thessaloniki, Mykonos, Santorini, or any island with more than 3,100 residents.
- Tier 2: Invest €400,000 in a property of at least 120 square meters located in any other region of Greece outside the Tier 1 areas.
- Tier 3: Invest €250,000 in a property converted from commercial to residential use, regardless of size or location.
- Tier 4: Invest €250,000 in a historically or culturally significant property, as long as you fully restore or rebuild it before applying.
- Capital Contribution: You can invest from €500,000 by putting money into a Greek company (not a real estate firm), buying shares or bonds listed in Greece, investing in a real estate investment company focused on Greece, or funding a private equity or mutual fund that only invests in Greek businesses.
- Bonds & Securities: You can invest in bonds and securities by putting €800,000 into Greek shares or corporate bonds, €500,000 into Greek government bonds that mature in at least 3 years and are held in a Greek bank, or €350,000 into mutual or investment funds that focus only on Greece.
- Capital Transfer: €500,000 Deposit in a Greek bank for at least 1 year, with auto-renewal.
Portugal Golden Visa investment options
Since 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. It’s always best to consult with a Portugal Golden Visa lawyer, as regulations can change at any time.
- Investment funds: Contribute to a qualified investment fund worth at least €500,000
- Investment or donation in the arts or reconstruction of national heritage with a donation of at least €250,000 (Read more: Portugal’s Cultural Production Golden Visa)
- Scientific Research: Science or Technology research contribution of at least €500,000
- Creation of ten jobs: Creation and maintenance of ten jobs during the required period
- Share capital and job creation: Incorporation of a company or reinforcement of a company’s share capital, in either case with an investment of €500,000, combined with the creation of five or maintaining ten jobs (5 of them permanent)
| Investment Type | Greece Golden Visa | Portugal Golden Visa |
| Real Estate | Minimum investment starts at €250,000 for real estate, including restored or repurposed properties. Higher amounts apply: €400,000–€800,000 in certain areas. Other options include €500,000 in a Greek company, real estate investment firm, or closed-end fund; €800,000 in listed shares or bonds; or €500,000 in Greek government bonds. | No longer available |
| Fund Subscription | €350,000 | €500,000 |
| Cultural and Art Donations | €250,000 in a historically or culturally significant property | €250,000 donation in the arts or reconstruction of national heritage |
| Bonds and Securities | €800,000 into shares or corporate bonds, or €500,000 into government bonds | Not available |
| Scientific Research | Not available | €500,000 |
| Job Creation | Not available | Ten jobs |
| Company Share Capital | €800,000 in shares or corporate bonds | €500,000 + ten jobs (five of them permament) |
Greece vs Portugal Golden Visa Requirements
Both Portugal and Greece have designed their Golden Visa programs to attract international investors, but while they share some core eligibility rules, there are also important differences. Requirements that are the same for both programs:
- Must be a non-EU / non-EEA / non-Swiss citizen.
- Must be at least 18 years old.
- Must hold a clean criminal record.
- Must provide proof of legal source of investment funds.
- Must have valid health insurance covering the host country.
- Must maintain the qualifying investment to keep residency active.
However, for investors in Portugal’s Golden Visa, they must obtain a Portuguese tax identification number (NIF), open a local bank account, and spend at least seven days in the first year and 14 days in the subsequent years in the country.
Greece vs Portugal Golden Visa Processing Time
The waiting time for the Greece Golden Visa is 12 months depending on the investment route.
Due to delays, the analysis and pre-approval of the Portugal Golden Visa can take up to 24 months. However, AIMA is currently working to streamline the process, anticipating faster procedures in the upcoming months. Following this stage, biometric data collection and residence card issuance take place. This phase can take from 18 to 24 months.
Greece Golden Visa vs Portugal Golden Visa Cost
As with any Golden Visa application, the initial capital transfer amount has additional costs. This is an important area for foreign investors to consider when planning their personal and financial goals.
In addition to making qualifying investments, applications for a Golden Visa require paying fees to the relevant authorities. These fees are typically paid per applicant and dependent.
Here is a breakdown of both Greece and Portugal’s Golden Visa costs:
Greece Golden Visa application fees
- €2,000 for the main applicant
- €150 per family member (children under 18 are exempt)
- €16 processing fee for the residence permit per person
- Additional costs such as legal fees and notary fees (typically 8 to 10 percent of the total investment)
Portugal Golden Visa application fees
- Online application submission – €618,60
- Granting the permit – €6.179,40
- Per renewal – €3.090,40
Greece vs Portugal Golden Visa Validity
The validity of your Golden Visa is dependent on the country. The current period residences by investment schemes are:
- Greek Golden Visa: The residence permit is valid for five years.
- Portugal Golden Visa: The first residence permit is valid for two years. Portugal Golden Visa holders can renew this residence permit in two year increments.
Greece vs Portugal Golden Visa Citizenship Requirements
A Golden Visa is a pathway to gain permanent residency or apply for citizenship if you fulfill the country’s unique naturalization requirements. Successful applicants then gain EU citizenship, which grants several benefits such as status to live and work in EU states and greater healthcare access.
The following EU citizenship criteria need to be met per country:
Citizenship requirements for Greece
- Seven years of physically living in Greece for more than 183 days each year
- The ability to speak B1 level Greek
- Greek citizenship examination
- No criminal record in your home country
- You must pay taxes and not be away from the country for more than 10 months in any 5-year period.
Citizenship requirements for Portugal
- Five years of living in Portugal with seven days of physical residence for each year
- Having no unpaid taxes in Portugal
- A2 Portuguese language test
- No criminal record in your home country
⚠️ Update on Portugal's Nationality Law Changes
On 28 October 2025, Portugal's parliament approved key amendments of the Nationality Law, including increasing the residency requirement for citizenship from 5 to 10 years, and 7 years for CPLP nationals and EU citizens. This will significantly impact how visa holders and residents acquire citizenship.
However, these changes are not yet law. They must still undergo Presidential review where the President may promulgate the law, issue a veto, or request a review by the Constitutional Court. The final text may still be amended but they might not be enacted because the law is not final until its promulgated.
For the latest information regarding these changes, read Portugal Nationality and Citizenship Changes 2025
Greece vs Portugal Golden Visa Tax Implications
Taxation is unrelated to the Golden Visa program and is solely associated with an individual’s tax residency status. You aren’t automatically a tax resident of those countries if you hold a Golden Visa from Portugal or Greece. And, as long as you are not a tax resident in these countries, you only owe taxes on income earned in the hosting country. You owe no taxes on your foreign earnings.
If you opt to spend most of your year in these countries and become a tax resident, you’ll have to pay taxes, as shown below.
| Greece | Portugal | |
| Corporate Tax | 24 percent | 21 percent |
| Income Tax | 9 percent to 44 percent | 14.5 percent to 45 percent |
| Inheritance and Gift Tax | 10 percent to 40 percent (varies by relation) | 0 percent |
| Tax incentive programs for foreigners | A 7 percent flat rate for 15 years. The non-dom tax regime allows tax exemption on foreign income for a fixed annual fee of €100,000. | Non-Habitual Residence Program (NHR). Ten-year exemption for certain professions. |
Which is Better: Greece Golden Visa or Portugal Golden Visa?
Greece and Portugal’s Golden Visa programs are ideal for EU residency seekers. However, the Portugal and Greece Golden Visas have different advantages.
Portugal and Greece offer Golden Visa programs with similarities in application time, passport ranking, minimum investment, and family eligibility.
However, Greece imposes more economic restrictions on its foreign investors and residents than Portugal.
Portugal’s Golden Visa program allows holders to work without restrictions, while Greece only permits residency without employment rights unless the visa holders start their businesses.
The two Golden Visas offer more investment routes, with Portugal offering fewer but attractive options. Portugal Golden Visa holders can also enjoy a faster path to citizenship, requiring five years of residency compared to Greece’s seven years.
The Portugal Golden Visa is an easier path to EU citizenship, hands down. But Greece’s program offers lifelong residency at a lower cost, more flexibility with no minimum stay requirement, and faster processing. It also allows real estate investment.
How Can Global Citizen Solutions Help You?
Global Citizen Solutions is a boutique investment migration consultancy firm focused on finding the right residency or citizenship by investment program for individuals wishing to secure their future and become global citizens. With offices in Portugal, the United Kingdom, Hong Kong, and Brazil, our multilingual team guides individuals and families from start to finish, providing expert advice considering freedom, mobility, taxation, and security.
- We have helped hundreds of clients from 35+ countries in all the top residency by investment and citizenship by investment programs. With an in-depth and comprehensive understanding of the area, we provide our clients with solid guidance.
- Our team has never had a case rejected. Our 100 percent approval rate sets us apart from our competitors and guarantees that you can expect a successful application.
- Our transparent pricing covers all the processes from opening your bank account, document certification, and legal due diligence to investment and submission. As there is one fee for the entire process, you can be confident that you will not face any hidden costs later.
- All data is stored within a GDPR-compliant database on a secure SSL-encrypted server. You can be safe knowing that your personal data is treated with the utmost security.
- Global Citizen Solutions provides an all-encompassing solution. Our support can continue even after you receive your passport. We offer additional services such as company incorporation, Trusts, and Foundations formation.
- The BeGlobal Onboarding System® allows you to access the status of your application every step of the way, something that sets us apart from our competitors.
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