Greece Golden Visa vs Portugal Golden Visa: Key Differences

Greece and Portugal offer attractive investment routes, each with different minimum investment requirements. Both Portugal’s Golden Visa and Greece’s Golden Visa programs provide various investment opportunities for wealthy individuals seeking EU residency rights.

The Greek Golden Visa requires a minimal investment of €250,000 in real estate, making it affordable compared to some other similar programs in Europe.

The investor can have passive income from renting out the real estate they purchased as an investment. They may sell the property after getting Greece permanent residency and return the spent money.

The Portugal Golden Visa requires a minimal investment of €250,000 in the cultural sector, and it can’t be returned.

Investment in the most popular option, the purchase of real estate, starts at €280,000.

Both Greece and Portugal launched their respective Golden Visa routes in 2013, offering investors the right to live and travel freely among Schengen member states without the need for additional visas. These permits allow holders to work, reside, and enjoy freedom of movement throughout EU countries.

The primary advantage of both Greece’s and Portugal’s Golden Visa programs is the ability to access visa-free travel within the European Schengen Area. This region comprises 27 European countries that have abolished passport control at their mutual borders, enabling easier cross-border travel for residents.

One important aspect to consider when comparing two Golden Visas options is the application timeframes and passport rankings associated with each program.

The application timeframe for Greece Golden Visa is 2—6 months. Obtaining Portugal residency will take about 10 months.

Both Greek and Portuguese passports rank highly among global passports, offering visa-free travel or visa-on-arrival access to over 180 countries worldwide.

Greek passport ranked 8 globally with access to 185 countries without additional visas.

Portuguese passport ranked 6 globally with access to187 countries without additional visas.

When considering the Portuguese Golden Visa and the Greek Golden Visa, it’s important to understand how family eligibility and residency requirements differ between these two popular European investment programs. Both countries allow investors to include their dependents in their applications, but there are some key differences when it comes to mandatory stay durations.

Both Portugal and Greece offer generous provisions for including family members under the main application. This typically includes spouses or legal partners, dependent children up to a certain age, as well as parents who meet specific dependency criteria. The ability to secure EU residency for your entire family is an attractive feature of both golden visa programs.

Investors applying for Portugal’s golden visa must spend at least seven days per calendar year within its borders during the first five years of holding their residence permit. After this period, they can apply for permanent residency or Portuguese citizenship if they fulfill other requirements such as demonstrating ties with the country and passing a basic language test.

Greece does not impose strict minimum stay requirements on its golden visa holders. While maintaining a valid Greek residence permit requires occasional visits to Greece, there is no specified number of days that investors must reside in-country each year.

This difference makes Greece’s program more appealing for those seeking greater flexibility regarding time spent living abroad while still enjoying all benefits associated with being an EU resident.

One significant advantage of Greece’s Golden Visa program over Portugal’s Golden Visa offering is its lower property transfer tax, which makes it more financially appealing when comparing capital-based immigration programs. Additionally, the process of investing in Greece is considered simpler and quicker compared to other nations.

The Greece property transfer tax rate stands at 3% on the contract value for properties purchased after January 1st, 2006. In comparison to Portugal, Greece offers a much more attractive property transfer tax rate of 3%, making it an ideal choice for investors looking to acquire a European Union residence permit. The reduced taxes make Greek real estate investments more attractive for those seeking a European

The Portugal Property transfer tax tax rate is 5%, if the property is located in a rural area. However, commercial real estate is taxed at a rate of 6,5%, regardless of location — urban or rural.

A progressive taxation scale is applied for residential urban development. It considers the cost and the purpose of the purchase as a permanent home or a rental.

The lower property transfer taxes and ease of investing process make Greece’s Golden Visa program a more appealing choice for wealthy individuals looking to obtain EU residency through real estate investments.

Recent changes to Portugal’s golden visa requirements have led some investors into riskier territories, as they are now required to purchase properties located within relatively uncharted areas. In contrast, Greece offers greater flexibility for potential investors since any type of property throughout the open market qualifies under their regulations.

In an effort to promote investment in low-density regions, Portugal has introduced new restrictions on where real estate investments can be made for its golden visa program.

Greek regulations offer more freedom when it comes to selecting properties for their golden visa program. Investors can choose from various types of properties such as residential units, commercial spaces, or even land plots without any geographical limitations. This allows them to invest in established markets with proven track records while still benefiting from all the advantages offered by the Greek golden visa scheme.

Greek and Portuguese golden visas are initially granted with a different validity period. A Portugal residence permit is valid for 2 years. A residence permit received by investment in the Greek economy is valid for 5 years.

During this time frame, holders must maintain their investment in order to keep enjoying all associated benefits. After meeting certain requirements such as maintaining residency or investing further capital into local projects, investors may be eligible for renewing permit status indefinitely, thereby allowing them continued access to European Union member states.

When it comes to choosing between the Greece Golden Visa and Portugal Golden Visa, there are several factors that wealthy individuals should consider. Both countries offer attractive investment options for obtaining residency permits, but each has its own unique requirements and benefits.

Investment flexibility, application timeframes, family eligibility, citizenship acquisition pathways, property transfer taxes differences, residency obligations, and freedom of movement within the EU are some of the key points to compare when deciding which program is best suited for your needs.