Greece vs Portugal Golden Visa: How to Choose the Best Option in 2025?

Portugal and Greece are both designed for non-EU citizens and offer 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.

Greece offers a true Mediterranean climate, while Portugal enjoys a mild Atlantic climate with plenty of sunshine. Both countries are known for their great food, low to moderate living costs, flat tax options, and visa-free travel within the Schengen Area.

Another major benefit of the Greek and Portuguese Golden Visas is that both programs eventually lead to European citizenship. But with so many attractive advantages, which program to choose? This article breaks down the Greece vs Portugal Golden Visa program to help you decide which one to choose.

Inside, you’ll find:

• Overview of the Greece Golden Visa and Portugal Golden Visa
• Benefits of the Golden Visa Greece and Portugal
• Greece Golden Visa and Portugal permanent residency requirements
• Obtaining European citizenship through the Golden Visas
• Taxes and application costs
• FAQs about Greece and Portugal Golden Visa programs

Greece vs Portugal Golden Visa Compared

Greek Golden Visa Program 

• Launched in 2013
• The minimum investment amount is €250,000 for regions including the entire Administrative Region of Attica, Thessaloniki, Mykonos, Santorini, and islands with populations exceeding 3,100, and €400,000 for the rest of Greece, or Greek government bonds 
• Family dependents of the primary applicant (including dependent children under 21 and both spouses’ parents) can qualify for a Greek residence visa. 
• There is no necessity to spend any time in Greece
• Visa-free travel in the Schengen Area
• Becoming a European Union citizen is possible after 7 years of physical residency

Portugal Golden Visa Program

• Introduced in 2012
• Minimum investment amount of €250,000
• Family dependents of the primary applicant qualify for the visa, including dependent children under 25 years of age and dependent parents over 65 years of age.
• Residency granted for 2 years, renewable for 2-year periods
• Visa-free travel in the Schengen Area
• Portuguese citizenship is possible after 5 years 
• Minimal stay requirement: 7 days per year

Greece vs Portugal Golden Visa Benefits

Greece vs Portugal Golden Visa processing time

In 2025, Greece reduced its Golden Visa backlog and improved processing times from an average of 24 months to just three months. Despite these improvements, the country is still on track to reach a record number of approvals for the sixth year in a row. Due to delays, the analysis and pre-approval of the Portugal Golden Visa can take up to 18 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 6 to 18 months.

The waiting time for the Greece Golden Visa is 12 months.

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 Golden Visa vs Portugal Golden Visa Investment Options

Greece’s Golden Visa investment options

To obtain European citizenship, 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 – €800,000: You can invest €800,000 in one property of at least 120 m² located in high-demand areas like Athens, Thessaloniki, Mykonos, Santorini, or any island with more than 3,100 residents.
• Tier 2 – €400,000: This option allows you to invest €400,000 in one property of at least 120 m² located in any other region of Greece outside the Tier 1 areas.
• Tier 3 – €250,000: You can invest €250,000 in a property that has been converted from commercial to residential use, regardless of its size or location. The conversion must be completed before applying.
• Tier 4 – €250,000: You may invest €250,000 in a historically or culturally significant property, as long as you fully restore or rebuild it before applying.

In September 2024, Greek Prime Minister Kyriakos Mitsotakis announced plans to introduce a new investment option for the Golden Visa program. Foreign investors can get a five-year residence permit by investing a minimum of €250,000 in Greek startups. Additional details have not yet been announced, such as an implementation date or whether the investment will be limited to certain businesses or locations.

• Tier 4 real estate investments
• Real estate investment threshold of €250,000
• Applicable to properties of historical or cultural significance that the investor has fully restored or reconstructed
• Portugal Golden Visa investment options
• 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.
• 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	Mutual funds of €350,000	€500,00
  Cultural and Art Donations	Tier 4 real estate investment with the option to restore or repurpose properties with a minimum investment of €250,000.	€250,000
  Government Bonds	€500,000 in shares or bonds of real estate investment companies, venture funds, or private equity in Greece	Not available
  Scientific Research	Not available	€500,000
  Job Creation	Not available	Ten jobs
  Company Share Capital	You can invest €800,000 in shares or corporate bonds that are listed or actively traded on official markets or trading platforms in Greece.	€500,000 + ten jobs (five of them permament)

Greece Golden Visa vs Portugal Golden Visa Stay Requirements

Greece Golden Visa applicants will be glad that a Greek Golden Visa has no minimum stay requirement.

Applicants for the Portugal Golden Visa program are required to stay in Portugal for an average of seven days each year to maintain their residency status.

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 fluent 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

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. 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.

There is a Non-Habitual Residency (NHR) Program in Portugal, a tax policy aimed at helping foreigners become tax residents in Portugal. It is one of the most appealing tax schemes in the European Union and a great advantage for UK citizens and Americans moving to Portugal.

Has NHR ended?

Yes, the Non-Habitual Resident tax regime closed in January 2024 and the transition period ended in March 2025. The Tax Incentive for Scientific Research and Innovation (IFICI) has replaced the scheme, which has now been implemented. Current NHR holders are not impacted by the changes. To learn more, please refer to Portugal's new NHR guide.

Greece is working on a similar initiative that will allow foreigners wishing to migrate or retire in Greece with a flat tax rate of seven percent for the first ten years of their stay.

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 – €605.10
• Granting the permit – €6,045
• Per renewal – €3,023.20

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.

Frequently Asked Questions About Greece vs Portugal Golden Visas

What is Greece’s Golden Visa?

The Greece Golden Visa program is an immigration and investment visa launched in 2013 by the Greek government. It gives investors and their families Greek residency in exchange for a current minimum investment of €250,000 in real estate and up to €800,000 in high-demand areas.

What is Portugal’s Golden Visa?

The Golden Visa Portugal is an immigration and investment visa launched in 2012 by the Portuguese government that offers non-EU investors and their families Portuguese residency, with an eventual pathway to EU citizenship allowed in exchange for a minimum qualifying investment of €250,000.

Can I obtain an EU passport by applying to the Greece or Portugal Golden Visa program?

You can obtain an EU passport by applying for the Greece or Portugal Golden Visa program. The main difference is that you’ll be able to apply for citizenship and acquire a Portuguese passport after seven years of residency out of 183 days per year, while it’ll take seven years to obtain a Greek passport.

Between Greece and Portugal's Golden Visa, which program should I pick?

Both programs have their pros and cons. Greece offers a wider range of investment options across different budgets, lower government fees, and no minimum stay requirement. Portugal, on the other hand, provides a clearer and more accessible path to EU citizenship, requiring an average stay of just seven days per year. It is important to consider what matters most to you both in the short and long term before deciding.

How do I immigrate to Greece?

Greece offers several visa options for non-EU citizens, including investment-based and income-based programs. The Financially Independent Person (FIP) visa grants a 3-year residency to those with a monthly income of at least €3,500. Applicants must apply for a long-term Type D visa and prove they can live in Greece without working there.

Is it better to live in Greece or Portugal?

Deciding between Portugal and Greece depends on your goals and lifestyle. Both offer Golden Visas with Schengen access and optional tax benefits for residents. Portugal requires a 7-day stay per year, while Greece requires one visit every two years. Both countries provide a high quality of life and lower living costs than much of Europe and the U.S.

Which Golden Visa is better: Greece or Portugal?

In a comparison between Greece and Portugal Golden Visa programs, it depends on what you are looking for. If your objective is to obtain an EU passport as quickly as possible, then the Portuguese Golden Visa may be the one. It also offers a more diverse range of investment routes and offers great tax benefits to foreign residents. However, the Greek program’s benefits are that there’s no minimum stay requirement and cheaper investment options.

Is property investment available for the Portugal Golden Visa?

No, real estate investment is no longer an eligible investment pathway for the Portuguese Golden Visa program. Real estate-related investment funds and capital transfers have also been eliminated from the program. However, other attractive options remain, such as the investment fund, cultural and art donations, and job creation.

Will changes to real estate investment laws affect current or previous Greece Golden Visa applicants?

No, the real estate changes, which increased the investment thresholds for properties in Greece, won’t affect current or previous applicants. There will be no retroactive effects for anyone applying for Greece’s Golden Visa.

What are the minimum investment requirements for the Golden Visas in Greece and Portugal?

To obtain a Portugal Golden Visa, you must make a capital investment of at least €250,000 in eligible projects, such as cultural or artistic activities, or €500,000 or more in Portuguese investment funds or venture capital funds.

There are several avenues available to acquire a Greek Golden Visa.

• Investment in Greek real estate for a minimum of €250,000 and higher in high-demand areas.
• A €500,000 capital contribution to Greek government bonds