Obtaining a visa to live abroad is no longer the complicated, time-consuming process it once was. Now, there are several options for high-earners and those who have the capital to invest into their country of choice. There are several countries in the EU that are part of the Golden Visa program, and Portugal and Greece are two of the most popular among investors. 

In this guide, you’ll find Portugal vs Greece golden visa comparison. Explore each one’s pros and cons and take a look at their individual requirements. 

What is a Golden Visa?

For those who want to bypass staying in a country for work or study, a Golden Visa is the acquisition of permanent residence or citizenship through investment. Vetted candidates, once approved, are granted residence or citizenship in exchange for a financial contribution in the host country. 

A Golden Visa allows candidates to relocate immediately or when they reach retirement age. It also gives approved candidates the same access to healthcare and educational resources as those born in the country. 

Portugal Golden Visa

Portugal’s Golden Visa is a specific type of visa that’s issued to non-EU citizens who make a financial investment into the country. This can include starting a business, buying real estate or a large capital investment.  It’s considered one of the fastest routes to being awarded t permanent residence and eventually citizenship in Portugal. 

With a Portuguese Golden Visa, you may apply for citizenship in only short 5 years.

Portuguese Golden Visa Investment Options

In order to be awarded Portugal’s Golden Visa, one of the following 

investment options must be me:

• Purchase real estate that’s worth €500,000 or more. In underdeveloped regions, you will have to invest €400,000. 
• Invest at least €350,000 into redevelopment efforts within the country. If you choose to invest in an underdeveloped area, the amount is €280,000. The project must qualify as an investment under the Portuguese Immigration and Borders Service.
• At the bare minimum, invest €350,000 in an investment fund. This can include tech companies or venture capital investments.
• Transfer €1 million into a bank account in Portugal.
• Buy company shares of €1 million or more.

Length of a Portugal Golden Visa

The residency card you initially receive with Portugal’s Golden Visa valid for 1 year. You can then review two additional times for 2 years, for a total of 5 years. Afterwards, you’ll be eligible for a permanent residence card. 

Benefits of Portugal Golden Visa

Portugal’s Golden Visa comes with a wide array of benefits. You can include your immediate family under your visa application. This includes children under 18, dependent children up to the age of 26 who attend university full-time, dependent parents of either yourself or your spouse and any dependent minor children. 

You can also include minor siblings whom you’re responsible for. 

You and your family are allowed to travel visa-free to any of the countries located within the Schengen area for 90 days out of 180 days. 

It’s important to note that you can reside outside of Portugal. You only need to remain in the country seven days a year to qualify for renewal. In some cases, you can renew your residence permit with the help of a legal representative who resides in Portugal. 

If you do choose to remain in Portugal, both you and your family will have complete access to education and high-quality healthcare. After the 5-year mark, you may also apply for a Portuguese passport.

Portugal also offers a high quality of life. The cost of living is affordable, and it offers a mild Mediterranean climate year-round. There’s also a huge expat community throughout Portugal, making it a desirable location for startups and expats looking to relocate. 

Greece Golden Visa

Greece’s Golden Visa is one of the most sought-after investment visas in the EU. Specifically, it’s a residency through investment visa, issued to non-EU citizens after meeting the financial contribution requirements.

Similar to Portugal’s Golden Visa Program, there are specific requirements that you must fulfill prior to approval.

Greece Golden Visa Investment Options

While there are several different investment options, the most common one is investing in real estate valued over €250,000. 

• Enter into a lease agreement with either a tourist establishment or hotel for a minimum of 10 years
• Invest at least €400,000 into a company that’s registered in Greece
• Invest at least €400,000 in Greek government bonds.
• Invest at least €400,000 in shares of real estate investment companies or bonds.
• Deposit €400,000 into a Greek bank.
• Invest €800,000 into corporate bonds.

It’s also important to note that Golden Visas can lead to permanent residence or citizenship in Greece. In turn, this also allows for access into the EU without restriction. Once approved, the Greece Golden Visa provides immediate residency for 5 years to the investor and their immediate family. All parties are permitted to travel freely within the Schengen Zone. 

Length of a Greece Golden Visa

Greece’s Golden Visa is initially issued for 5 years. As long as the investment is maintained, the visa can then be renewed indefinitely. If you want to make Greece your permanent residence, you can apply for Greek citizenship after living in the country for 7 years. 

Do I Need to Reside in Greece to Renew? 

Contrary to other countries that issue Golden Visas, you can renew your visa even if you live outside of Greece. Even without living in the country, you can continually renew your passport so long as you maintain your investment. 

To renew, you just provide valid proof that you still own property. Alternatively, your legal representatives can submit a declaration that your investment is still active. 

Can I Obtain Greek Citizenship If I Invest?

You can obtain Greek citizenship through the Golden Investment Visa. However, unlike permanent residency, you must live in the country and pay taxes to obtain Greek citizenship. 

You’re also required to live in Greece continuously for 7 years before you’re eligible to apply. You must also be able to speak basic Greek and have insight into the culture. 

Benefits of Greece Golden Visa

The Golden Visa in Greece also provides a variety of benefits, both financially and on a personal level. In addition to having a lower investment threshold than most other countries, your family is also covered under your visa.

Family members, like your spouse, your parents and children under 21 are all eligible. Dependent children over the age of 21, but under 24 and are students, can also be included on your visa application. 

It is important to note that both you and immediate family members can travel freely without a visa within the Schengen Zone. You don’t need to reside in Greece for a particular time period, and you can rent out your property after purchase. You will also have full access to and education and healthcare in Greece. 

Aside from the monetary value, you’ll also live in a country that’s rich in culture. Greece is also known for its hospitality, cuisine, history and beautiful Mediterranean climate. You will also be surrounded by welcoming locals who will never hesitate to make you and your family feel welcome. 

Portugal vs Greece Golden Visa Comparison

While both Golden Visa programs do come with a unique set of benefits, 

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Additionally, if you’d like to apply for citizenship in either country, you will need to pay taxes and be able to demonstrate a speaking level of at least A2 in the native language.

While it’s possible to apply for either Golden Visa on your own, the process can become overwhelming. There are certain situations that warrant the help of an experienced investment consultant. Whether you want to apply in either Portugal or Greece, we’re here to help. 

At smartcitizenship.com, we take the guesswork out of the process, so you can focus on what’s important: living the life you deserve. Contact us today for a free 30-minute consultation.