If you are comparing the Italy vs. Greece Golden Visa programs, then the choice may come down to which option has the more appealing set of investment options. This is because both programs grant Schengen Area access and residency for non-EU investors, and they offer the same financial entry points.
The Greek Golden Visa is still one of the most chosen programs for property-focused investors, with thresholds starting at €250,000 for commercial-to-residential conversions. In contrast, the Italian Golden Visa targets venture-minded individuals, offering a €250,000 entry point specifically for innovative startups.
Other factors that influence a person’s decision will be discussed in This article which compares the Italy and Greece Golden Visa programs, covering eligibility criteria, investment options, processing times, and more.
Italy vs Greece Golden Visa: Key Takeaways
Italy vs Greece Golden Visa: Who Should Choose Which?
| Choose Greece If… | Choose Italy If… |
|---|---|
| Tangible value: You want a vacation home or a passive rental income stream in the Mediterranean. | Liquid Wealth: You prefer to keep money in government bonds or business equity rather than managing real estate. |
| Retirement efficiency: You are a retiree looking to significantly lower your tax bill with the 7% flat rate. | Speed: You want the fastest possible approval (Italy’s digital Nulla Osta process is one of the most efficient in the EU). |
| Multi-generational: You want one of the lowest costs of entry for a family of three generations. | Ultra-HNWI Strategy: You have significant global earnings and can benefit from the €300,000 lump-sum tax to protect wealth. |
| Low entry: You want to use the €250,000 conversion route to secure a property at a lower price point. | Career Flexibility: You plan to work, be employed, or actively run a business within the EU. |
Italy vs Greece Golden Visa Programs Quick Overview
| Feature | Greece Golden Visa | Italy Investor Visa |
|---|---|---|
| Asset-Based Routes | €250K (conversions), €400K (standard), or €800K (prime real estate). | None (Italy does not offer residency through direct real estate purchase). |
| Capital-Based Routes | €500K (bank deposit, Greek bonds, or business shares). | €250K (innovative startups), €500K (LLC/business), or €2M (government bonds). |
| Tax Incentives | 7% flat tax for retirees on foreign-sourced income. | €300,000 lump-sum tax regime for high-net-worth individuals. OR 7% flat tax on foreign-sourced income for qualifying foreign retirees relocating to eligible municipalities, available for up to 10 years. |
| Work Rights | Restricted to business ownership only. | Full rights to employment and business activities. |
| Family Inclusion | Three generations: spouse, children, parents, and grandparents. | Three generations: Spouse, children, and dependent parents. |
Benefits of the Italy Investor Visa and the Greece Golden Visa
- Tangible asset ownership: Greece gives investors the chance to acquire a real estate asset that can appreciate or be used as a vacation home.
- Low entry point: Both programs have entry points starting at €250,000, but for different purposes: Greece, through commercial-to-residential property conversions or historical building restorations, Italy, through innovative startups.
- Family inclusion: Both Greece and the Italy Golden Visa allow family to be included under the main applicant. Greece allows spouses, children up to 21, and dependent parents, and Italy includes up to three generations as well.
- Retirement tax benefits: Greece offers a 7% flat tax on all foreign-sourced income (pensions, dividends, and rentals) for 15 years, and Italy attracts high earners who can opt for a €300,000 lump-sum tax that covers all global income, regardless of its total amount.
- High yield potential: Greece also offers the potential to generate 4%–6% passive income through long-term rentals, as short-term/Airbnb rentals are restricted for current applicants.
- Zero stay requirements: Both golden visa programs have no requirement to live in the country or spend any minimum number of days there to maintain residency. It is important to note that physical presence is a requirement for permanent residency after five years and eventually, citizenship after 10 years.
Italy vs Greece Golden Visa Eligibility Requirements
Greece Golden Visa Eligibility (2026)
- Must be 18 or older
- Non-EU, non-EEA, and non-Swiss citizens only
- Clean record from the country of origin or residence
- Private coverage valid in Greece
- Spouse (including same-sex partners), children under 21, and both parents (no dependency required)
- Must retain full ownership of the qualifying property to renew every 5 years
Italy Investor Visa Eligibility (2026)
- Must be 18+ and a non-EU citizen with full legal capacity
- Must obtain a digital Certificate of No Impediment (background vetting required)
- Must prove investment funds are legally obtained and transferable to Italy
- Investment must be completed within 3 months of entering Italy
- Private coverage valid in Italy is required
- Spouse and minor children; adult children or parents only if financially dependent
- Show proof of housing (rental or purchase) upon arrival
Greece Golden Visa Investment Options 2026
1. Real Estate Investment
Greece Golden Visa offers different property options depending on location and type:
- €250,000 – Conversions: Buy a commercial property (e.g., office or shop) and convert it into a residential home
- €250,000 – Restorations: Restore a listed or historic building
- €400,000 – Regional property: Standard residential property in mainland areas and smaller islands
- €800,000 – Prime areas: High-demand locations like Athens, Thessaloniki, Mykonos, Santorini, and islands with over 3,100 residents
Note: Properties in the €400K and €800K categories must be at least 120 m².
2. Financial Investment (Capital-Based)
If you don’t want to manage property, you can invest financially:
- €350,000 – Mutual Funds: Invest in funds focused on Greek bonds or shares
- €500,000 – Government Bonds: Investment in Greek government bonds (minimum 3-year maturity)
- €500,000 – REIC Shares: Invest in Greek Real Estate Investment Companies
- €500,000 – Mutual Funds: Invest in funds focused on Greek bonds or shares
Italy Golden Visa Investment Options 2026
The Italian Golden Visa is a capital-based program. Unlike Greece, it does not offer residency through the purchase of residential property. Instead, the program is structured to bring liquid capital into the Italian economy through four approved investment routes:
- €250,000 – Innovative startup: Invest in a government-approved Italian startup focused on innovation and growth
- €500,000 – Italian company (S.R.L.): Invest in shares of an established Italian limited company
- €2,000,000 – Government bonds: Purchase Italian government bonds for a secure, low-risk option
- €1,000,000 – Philanthropic donation: Donate to a public-interest project (e.g. culture, education, research).
Greece vs Italy Golden Visa Fees and Costs
| Fee Category | Greece Golden Visa (Property) | Italy Investor Visa (Capital) |
|---|---|---|
| Government Application Fee | €2,000 (main applicant) + €150 (adult dependents) | None (the Nulla Osta digital application is free) |
| Visa / Permit Issuance | €16 (printing fee per person) | €116 (visa fee) + €100–€200 (residence permit fee) |
| Legal & Professional Fees | €5,000 – €15,000 (property due diligence and conveyancing) | €10,000 – €25,000 (source of funds checks and legal structuring) |
| Transaction Taxes | 3.09% (property transfer tax) | None (financial investments typically exempt) |
| Notary & Registry Fees | ~1.2% – 1.5% of the property value | None (unless setting up a new company) |
The tax systems for these two programs are designed for very different wealth profiles. Italy’s flat tax regime is targeted at ultra-high-net-worth individuals with high global earnings, while Greece’s Non-Dom tax program is a highly efficient and lifestyle-oriented program specifically for retirees and investors with moderate global income.
| Tax Benefit | Italy Flat Tax regime | Greece flat tax regime |
|---|---|---|
| Primary Target | Ultra-high-net-worth individuals | Retirees and passive income earners |
| Flat Tax Rate | €300,000 per year (lump sum) OR 7% flat tax on foreign-sourced income for qualifying foreign retirees relocating to eligible municipalities, available for up to 10 years. | 7% flat rate (for retirees) |
| Non-Dom Flat Tax | €300,000 (covers all global income) | €100,000 lump sum (for investors) |
| Duration | Up to 15 years | Up to 15 years |
| Family Inclusion | €50,000 extra per family member | €20,000 extra per family member |
| Reporting Rules | No requirement to declare foreign assets | Simplified reporting for foreign income |
| Stay Requirement | Must spend 183+ days per year | Must spend 183+ days per year |
| Inheritance Tax | No tax on foreign-held assets | Standard Greek rates (with exemptions) |
Other EU Golden Visa Options
1. Portugal Golden Visa
The Portugal Golden Visa allows investors to obtain residency through a qualifying investment of at least €250,000. Options include venture capital funds, and contributions to scientific, cultural, or business projects. The visa, which is transferred into a residency permit, offers Schengen travel and leads to citizenship after ten years for non-EU nationals, and after seven years for EU/CPLP nationals. It has a minimal stay requirement, averaging seven days per year.
2. Cyprus Golden Visa
The Cyprus Golden Visa offers permanent residency with a minimum €300,000 investment in real estate, business, or financial assets. There is no requirement to live in the country. Processing takes between two and six months, and while citizenship is possible, it requires seven years of residency and additional criteria.
3. Latvia Golden Visa
Latvia Golden Visa offers residency through flexible investment routes, including €250,000 in real estate, €50,000 in local business, €280,000 in deposits, or €250,000 in government bonds. Processing takes about two to three months. Investors and their families benefit from Schengen access and a straightforward application process. However, the visa is pending a parliamentary reform in November of 2026, which would change the available options.
4. Hungary Golden Visa
Hungary’s Guest Investor Program provides a renewable 10-year residence permit with Schengen travel. Investors can include family members. Options include €250,000 in a state-approved real estate fund or a €1 million donation to a university. Citizenship may be possible after eight years.
5. Serbia Residency by Investment
Serbia residency by investment offers temporary residency permits valid for up to 3 years and is renewable. Investors can include family members and may apply for permanent residency after three years and citizenship after six. Low taxes and central location make it a strong alternative option.
How Can Global Citizen Solutions Help You?
Global Citizen Solutions is an advisory 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.
