Greece vs Portugal Golden Visa: Which Is Better in 2026 & Beyond?

The Greece vs Portugal Golden Visa debate has become one of the biggest questions for investors looking for a reliable path into Europe. Both countries continue to attract record interest. Greece approved more than nine thousand applications in 2024 and brought in over two point three billion euros in foreign investment. Portugal also had one of its strongest years yet, with more than four thousand approvals even after real estate was removed from the program.

What these numbers show is that the market is changing. More investors are shifting away from traditional property-only programs and choosing fund-based options like Portugal’s. At the same time, many still favour Greece for its lower entry cost and simple, property-led approach. 

Both programs offer family inclusion, Schengen travel, and long-term residency, but they differ in how much you need to invest, how long you need to stay, and how quickly you can qualify for EU citizenship.

This guide breaks everything down clearly so you can decide which Golden Visa makes the most sense for your goals in 2026 and beyond.

Greece Golden Visa

Greece offers one of Europe’s most accessible residency-by-investment programs, built primarily around real estate and designed for investors seeking affordability and flexibility.

Minimum investment requirements

Let’s take a look at the minimum investment requirements by investment route: 

Real estate investment route

The Greece Golden Visa is primarily built around real estate acquisition. Investors must purchase qualifying property in Greece with a minimum value that depends on the location and type of property. The standard threshold is €400,000, applicable across most residential areas. 

However, certain categories allow entry at €250,000, such as properties requiring renovation, selected commercial conversions, or residences in designated lower-cost zones.

In high-demand or premium regions, such as central Athens or popular tourist islands—the minimum rises to €800,000. These thresholds reflect recent reforms intended to stabilise the housing market and channel investment toward productive areas. 

To qualify, investors must maintain full ownership of the property and hold it for as long as they wish to keep their Golden Visa residency.

Other possible (less common) eligible routes

Although real estate remains the dominant pathway, Greece technically offers additional investment options with similar minimum thresholds. These include investing €400,000- €500,000 in selected financial instruments such as Greek government bonds, shares, or mutual funds, though these routes are far less commonly used and have stricter regulatory requirements.

Another option allows a €500,000 investment in a Greek company, though unlike Portugal, Greece does not tie this to job-creation metrics nor does it offer structured fund-investment pathways. Nearly all applicants continue to choose real estate acquisition for its clarity and stability.

No fund-only route

Unlike Portugal, Greece does not provide a stand-alone fund investment route as a mainstream option. Real estate remains the central qualifying mechanism, and all alternative investment channels are more limited in scope, less widely promoted, and subject to variable acceptance by authorities.

Access to healthcare and education

Golden Visa holders may reside in Greece and access public services similar to other long-term residents. Children may enrol in Greek public schools, where tuition is free, and families can choose from the growing network of international schools in Athens and Thessaloniki.

Healthcare access follows the standard Greek residency framework: once living in Greece and properly registered, Golden Visa holders may enter the national system, while those who do not relocate full-time typically rely on private health insurance as required under the program. 

Tax considerations for Greece Golden Visa holders

No tax residency requirement

Greece does not require Golden Visa investors to live in the country. There is no minimum stay requirement to keep residency active, allowing holders to remain non-resident for tax purposes if they do not spend significant time in Greece.

Non-residents are taxed only on income sourced within Greece, which is a useful advantage for globally mobile individuals who wish to maintain EU residency while managing their tax footprint abroad.

Becoming a tax resident

You become a Greek tax resident if you spend more than 183 days in Greece within a calendar year or if your centre of vital interests is deemed to have shifted to Greece. Tax residents are subject to Greek taxation on worldwide income unless they qualify for a separate special regime.

Special tax incentives (for those who relocate)

Greece offers optional tax incentives to attract foreign professionals and retirees, separate from the Golden Visa, but Golden Visa holders may apply for them if they meet eligibility requirements.

These include schemes with reduced tax rates for foreign workers or flat tax options for foreign pensioners. 

Unlike Portugal’s NHR 2.0, Greece does not have a single unified incentive program focused on high-value professions, but rather several targeted regimes that applicants may explore individually if planning long-term relocation.

Fees & costs

Golden Visa applicants must pay government processing fees, legalisation costs, and property registration expenses. The application fee for a five-year residence permit is typically €2,000 per applicant, with additional biometric fees for each family member.

Property acquisition also involves transfer taxes, notary fees, land registry charges, and due diligence expenses, which generally total 7-10% of the property price. Applicants should further budget for legal representation, which may range from €5,000-€15,000 depending on family size and transaction complexity.

If pursuing non-real-estate routes, financial institutions may charge subscription or compliance fees tied to the chosen investment.

Processing time & residency rules

Once the property purchase or alternative qualifying investment is completed, applications are submitted to Greek immigration authorities along with supporting documents and proof of ownership or payment.

Biometric appointments are conducted in Greece, where applicants provide fingerprints, photographs, and signatures. Processing times vary by region but typically range from one to three months from the date of biometrics.

The resulting residence permit is valid for five years and grants full residency rights within Greece, including the ability to live, study, and travel freely throughout the Schengen Area.

Residency renewals, long-term status, and the route to Greek citizenship

The Greece Golden Visa can be renewed every five years as long as the qualifying investment is maintained. There is no obligation to reside in Greece to renew the permit, making it one of the most flexible residency-by-investment programs in Europe.

For those seeking long-term status, investors may apply for citizenship through naturalisation after seven years of physical residence in Greece, although this requires a meaningful presence in the country (typically around 183 days per year). Applicants must also demonstrate knowledge of the Greek language and culture through formal testing.

Most importantly, citizenship is not granted based solely on investment, and non-resident Golden Visa holders do not progress toward it unless they relocate. The program permits full family reunification from the start, covering spouses, dependent children, and in certain cases, the parents of either spouse, creating a unified residency pathway for multi-generational households.

Portugal Golden Visa 

Portugal offers a fund-focused residency program designed for investors seeking a hands-off route to EU residency, with a clear and efficient path to citizenship.

Minimum investment requirements 

Fund investment route 

The primary pathway is a minimum investment of €500,000 in a regulated Portuguese investment fund. These funds must be supervised by CMVM, Portugal’s Securities Market Commission, and must allocate at least 60% of their capital to Portuguese companies. Real estate-backed funds are not eligible under current rules. Investors are required to maintain their fund position for at least five years.

Other possible eligible routes

Applicants may also qualify by contributing €500,000 to accredited scientific research activities, supporting areas such as biotechnology, renewable energy, or environmental studies. 

Another option is a €250,000 donation to cultural or artistic projects approved by GEPAC, which may include heritage restoration, museum development, or cultural programming. 

A further route involves investing €500,000 in the share capital of a Portuguese company. This investment must either generate five new full-time jobs or retain ten existing roles, of which at least five must be permanent positions.

No real estate route

Property purchases no longer qualify for the Portugal Golden Visa. All eligible pathways now focus on productive investment rather than real estate acquisition.

Comparison of Qualifying Investment Options for Portugal Golden Visa (2025)

Access to healthcare and education

Golden Visa holders can also register with Portugal’s national healthcare system and access affordable medical treatment. Children can enrol in public schools and universities at the same tuition rates as locals. International schools are also widely available in Portugal.

Tax advantages for Portugal Golden Visa holders

Portugal’s Golden Visa framework provides significant tax flexibility, allowing investors to choose whether they become tax residents or remain non-residents depending on their time spent in the country.

Non-resident tax status

Golden Visa holders are not required to live in Portugal year-round. The program only asks for a minimum stay of seven days in the first year and fourteen days across each subsequent two-year renewal period. 

Staying within this limit keeps you classified as a non-resident, meaning you are not subject to Portuguese income tax, which is an advantage for investors who prefer to manage their tax exposure elsewhere.

Becoming a tax resident

You are considered a Portuguese tax resident if you spend more than 183 days in the country within a calendar year or if you maintain a home that qualifies as your habitual residence. Those who meet tax residency criteria may also access Portugal’s new incentive regime, known as NHR 2.0, provided they fall within the approved professional categories.

NHR 2.0 eligibility for Golden Visa holders

NHR 2.0 (also referred to as IFICI) replaces the former Non-Habitual Resident scheme and is designed for individuals working in specialised, high-value fields. 

Eligible applicants include professionals in areas such as technology, healthcare, and scientific or academic research, as well as senior executives or board members of Portuguese companies, including those in which Golden Visa investors hold an interest.

Key benefits under NHR 2.0

Qualified Golden Visa holders may benefit from a favourable tax environment, including a 20% flat tax rate on eligible Portuguese employment income and potential exemptions on various foreign income streams, such as dividends, rental earnings, and certain capital gains. These advantages apply for a ten-year period, offering stable and predictable tax treatment for long-term planning.

Fees & costs

The application analysis fee is €618.60 per applicant and is paid upon submission. Once approved, applicants must pay €6,179.40 for the initial residence permit, with each renewal costing €3,090.40 per person. 

After completing five years in the program, the permanent residence application carries a fee of €8,463.40, and subsequent renewals cost €4,326.30. In addition to these government fees, applicants should also budget €100–€300 for administrative requirements such as criminal record certificates, apostilles, notarised translations, and certified copies, though exact amounts vary by country. 

Many applicants also choose full-service legal support, which typically ranges from €10,000 to €20,000 depending on family size and case complexity, covering document preparation, compliance checks, communication with AIMA, and overall application management.

Processing time & residency rules

Applications are submitted online through AIMA’s portal, where officials verify documents and investment details to confirm eligibility and compliance with program requirements. After submission, applicants are scheduled for an in-person biometrics appointment, a process that may take a few weeks depending on availability. 

During the appointment, the main applicant and dependents complete fingerprinting, photographs, and identity checks, and families can attend together for convenience. Once biometrics are processed, 

Golden Visa residence cards are typically issued within about four months, granting full residency rights and officially beginning the five-year path toward permanent residency or citizenship.

Residency renewals, long-term status, and the route to Portuguese citizenship

Portugal’s Golden Visa may be renewed every two years as long as the qualifying investment is maintained and the applicant meets the program’s minimal stay requirements. After five years of holding the residence permit, investors are eligible to apply either for permanent residency or for Portuguese citizenship, depending on their long-term goals.

To obtain citizenship, applicants must demonstrate basic proficiency in Portuguese at the A2 level and maintain a clean criminal record. Once citizenship is granted, there is no further obligation to keep the original Golden Visa investment in place. 

The program also supports full family reunification from the outset, allowing spouses, dependent children, and dependent parents to be included under a single application. Adult children over 18 may also qualify when considered financially dependent, offering families far more flexibility than most standard residence options.

Step-by-step process to apply for the Portugal Golden Visa

Step 1: Obtain a Portuguese NIF

You must obtain a Portuguese tax number (NIF), which is required for all financial and legal transactions in Portugal. Non-residents typically need a Portuguese tax representative to request the NIF on their behalf.

Step 2: Open a Portuguese bank account

After securing your NIF, you must open a Portuguese bank account to transfer your investment funds. Banks will require identification documents, proof of income, and tax forms, particularly for U.S. citizens.

Step 3: Transfer the qualifying investment amount

You must transfer the qualifying investment amount—typically €500,000—into your Portuguese bank account. The bank will issue an official statement confirming the transfer.

Step 4: Collect and prepare documentation

Applicants must prepare several documents, including their passport, bank account confirmation, proof of investment, criminal background checks, and IRS compliance certificates. All documents must comply with Portuguese legal standards.

Step 5: Complete the investment

Once the funds are in your Portuguese bank account, you must complete the investment into the chosen eligible route, such as a regulated fund, cultural project, or research institution. Investment confirmation documents will be included in the application.

Step 6: Submit your application to AIMA

Your application is submitted to AIMA, the Portuguese immigration authority, for review. AIMA verifies your investment and documentation before scheduling your biometrics appointment.

Step 7: Attend a biometrics appointment in Portugal

Applicants must attend an in-person appointment where fingerprints, photographs, and signatures are collected. Dependents may attend the same appointment.

Step 8: Receive Golden Visa residency card

After approval, you will receive your residence card, which grants full residency rights. The five-year residency clock begins on the date the card is issued.

Quick comparison table 

​​Here is a simple breakdown of the Greece vs Portugal Golden Visa to help you compare both programs at a glance.

Greece vs Portugal Golden Visa: Which option is better for you?

Choosing between Greece and Portugal depends on your goals, your budget and the type of investment experience you prefer.

Why Greece is the better choice 

Greece is a good option for anyone who wants the most affordable entry into EU residency. The minimum investment starts at two hundred fifty thousand euros, which is significantly lower than most European programs. It also requires zero days of physical presence each year. This makes it ideal for people who want residency without the pressure to relocate or spend extended time in Europe.

Greece also appeals strongly to real estate-focused investors. Buying property gives you a tangible asset that can appreciate in value over time. Many rental markets in Greece perform well, and returns of three to seven percent per year are common in popular areas. 

Because of this, the program fits the needs of budget-conscious investors, families who want a European foothold for future opportunities, and anyone who prefers the stability of property over financial products.

Why Portugal is the better choice

Portugal tends to be the preferred option for investors who are focused on reaching EU citizenship as quickly as possible. The country offers a five-year path to naturalisation, which is shorter than Greece. The stay requirement is also very low. You only need to spend seven days per year in the country, which makes it easy for frequent travellers and globally mobile professionals.

Portugal is also a strong fit for people who do not want to manage real estate. The Golden Visa now relies on regulated private equity and venture capital funds. These funds are professionally managed and require no involvement from the investor. Historical returns usually fall between six and twelve percent, depending on fund strategy and risk profile. 

This makes Portugal suitable for high-net-worth individuals and anyone who prefers a clean, hands-off investment that still leads to long-term Portugal residency and a realistic route to citizenship.

How can Touchdown assist you with the Portugal Golden Visa

People start their Golden Visa journey for different goals. Some seek flexibility, others focus on family needs, and many want a stable connection to Europe. Touchdown, created by expats for expats, guides you through the process from the very beginning.

You can use the free Eligibility Checker to determine whether the Golden Visa is a suitable option for your profile. Once you know where you stand, it becomes much easier to understand your investment options. Most applicants ultimately choose between regulated investment funds, cultural contributions, or research investments, depending on their goals and risk tolerance.

Touchdown explains the requirements for each option and helps you understand which one aligns with your plans, but the support doesn’t stop at choosing an investment. The team prepares your documents, submits your application, secures your NIF, opens your bank account, coordinates fund transfers, and handles tax matters such as NHR 2.0 or company setup if your move requires it.

You can book a 1:1 consultation where the team reviews your situation and outlines the path that fits your investment capacity, family setup, and long-term plans.

FAQs

What is the difference between the Portugal Golden Visa and the Greece Golden Visa?

The Greece vs Portugal Golden Visa mainly differs in investment type and citizenship timelines. Portugal uses regulated investment funds and offers a faster five-year path to citizenship with minimal stay requirements. Greece relies on real estate, has the lowest entry cost, and works best for investors who want affordable residency without relocation. Portugal suits hands-off investors aiming for an EU passport, while Greece fits those who prefer property-based opportunities.

What is the disadvantage of a Greece Golden Visa?

The biggest drawback is the citizenship timeline. You must live in Greece for several years to qualify, so investors who do not relocate do not progress toward a passport. Property appreciation also varies by region, and some areas now require higher investment thresholds.

Which European country has the best Golden Visa?

Portugal is widely seen as the strongest option because it combines low stay requirements, a well-regulated fund-based investment structure, and a clear five-year route to citizenship. Other programs rely mostly on real estate or have less predictable long-term rules.

Is it better to live in Portugal or Greece?

Both countries offer a high quality of life. Portugal generally appeals to people who want a stable economy, easier integration, and a strong expat community. Greece attracts those who prefer a lower-cost lifestyle, warmer weather, and property-focused opportunities. The better choice depends on your personal goals and living preferences