Greece vs Portugal Golden Visa 2026: Which Program Is Right for You?

European residency programs continue to grow in popularity among high-net-worth individuals (HNWIs), global investors, entrepreneurs, and families seeking an alternative to the political and social unpredictability at home.

Two of the most popular programs in Europe, Portugal Residence permit (Golden visa) and Greece’s Golden Visa Program, have attracted thousands of investors thanks to their accessible investment thresholds, visa-free access to the Schengen Area, and the potential to qualify for EU citizenship.

At Harvey Law Group (HLG), we closely monitor developments in these programs, including Portugal’s recent removal of real estate investment options and Greece’s decision to raise its minimum investment thresholds. 

Understanding Golden Residence Programs in Europe

Golden immigration and residency-by-investment programs let foreign investors obtain a residence permit by making a qualifying investment in the host country’s economy. These programs are designed to attract foreign capital, stimulate economic growth, and create jobs, while giving investors the right to live, work, and travel within the European Union.

As well as the previously mentioned benefits, European golden visa programs remain attractive to HNWIs as they provide a “Plan B” for asset diversification, access to high quality education and healthcare, and global mobility for both the applicant and their family.

Recently, several European Golden Visa programs have undergone significant reforms or updates. Portugal, for example, has removed its real estate investment route and now only accepts fund investments, research initiatives, and job-creation projects. Greece remains one of the few EU golden visa programs still offering real estate as a qualifying investment, however minimum thresholds are increasing in high-demand areas such as Athens and Thessaloniki.

Portugal Residence permit Comparison Program Overview

The Portugal Golden Visa Program is a five-year residency-by-investment program designed for non-EU nationals looking to relocate to Portugal. Portugal’s Golden Visa is an attractive option for HNWIs due to its flexibility, only requiring an average stay of only seven days per year.

As of 2024, Portugal no longer allows real estate investments under its golden visa program. Current qualifying routes include:

Portugal Residence permit Investment Fund Option

Investors can invest a minimum of €500,000 in a qualified investment or venture capital fund. The selected fund must focus on the capitalization of Portuguese companies, have a minimum maturity of five years, and allocate at least 60% of its portfolio to businesses headquartered in Portugal. 

Please note, funds linked to real estate are excluded from eligibility.

Portugal Residence permit Donation Option

Applicants may also make a capital transfer of at least €250,000 (€200,000 in a low population density area) to support artistic production or the preservation and restoration of national cultural heritage. This contribution must be made through approved public institutions or private foundations recognized for their public utility status.

Key Benefits of Portugal Residence permit

In 2025, many countries are experiencing political uncertainty, rising inflation, and economic pressures that are affecting the standard of living. Portugal has continued to be an attractive residency option for eligible applicants. 

The main benefits of the Portuguese Golden Visa include:

Residency Options and Schengen Access

Portugal Residence permit (Golden visa) holders receive the right to reside in Portugal while enjoying visa-free travel across all 29 Schengen Area countries. This makes both business and leisure travel within Europe easily accessible and convenient.

Importantly, the residency requirements for the program are flexible, with applicants only needing to spend just 14 days in Portugal within the first two years and 21 days over the following three years.

After five years, applicants become eligible to apply for Portuguese citizenship while retaining their existing nationality.

Family Inclusion

Portugal’s program allows family members of the main applicant to be included in the application. Importantly, dependents receive the same residency rights and benefits as the main applicants. This includes being able to live, work, study, and travel freely in Portugal and eventually apply for permanent residency or citizenship.

Eligible dependents include:

• Spouse or partner (no legal marriage required)
• Children under 18
• Unmarried adult children who are full-time students and financially dependent
• Parents over 65 (of the main applicant and/or spouse)
• Parents under 65 (if financially dependent on the main applicant and/or spouse)

Right to Work, Study, and Access Healthcare

Golden Visa holders and their families can work or start/operate a business in Portugal, enroll in local schools and universities, and access the public healthcare system.

Pathway to EU Citizenship

After five years of holding the Golden Visa and meeting the minimum stay requirements (just 14 days within the first two years and 21 days over the following three), investors may apply for permanent residency and then Portuguese citizenship. 

Receiving citizenship means that the holder will receive the same rights as Portuguese nationals, including the ability to live, work, and study anywhere in the European Union.

Application Process and Timeline

At the time of writing, the Portugal Golden Visa application process takes around 12 to 18 months from submission. 

The first step involves preparing the required documents, including proof of identity, financial statements, and confirmation of your qualifying investment. 

Once everything has been prepared, the application can be submitted online through Portugal’s immigration authority, AIMA.

Once the application has been submitted, a biometrics appointment is scheduled either in Portugal or at a Portuguese consulate abroad. During this appointment, fingerprints and other biometric data for the applicant and any dependents are collected, and the residency card issuance fees are paid. 

Residency cards are typically issued within six months. The initial residence permit is valid for two years and must be renewed every two years to maintain residency status.

Permanent Residency and Citizenship

After five years of legal residency, investors may decide to apply for permanent residency or Portuguese citizenship.

Greece Golden Visa Program Overview

The Greece Golden Visa has become one of Europe’s most desirable residency-by-investment programs. In 2024, the program hit record levels, with approximately 9,300 applications submitted and more than €2.3 billion (approximately USD 2.5 billion) generated in foreign direct investment.

The Greece Golden Visa offers non-EU nationals a five-year, renewable residence permit with visa-free travel across the Schengen Area. 

Investment Options For the Greece Golden Visa

To be eligible for this program, applicants must make a qualified investment. Current eligible investments include:

Real Estate

Real estate continues to be the most popular option for applicants under the Greece Golden Visa. By making an investment through real estate, investors will receive direct property ownership in a steadily expanding market. 

The Greek Golden visa offers the following structured investment tiers that give investors the flexibility to choose from different minimum investment amounts, depending on the location and type of property they would like to purchase. 

• Minimum investment of €800,000 in a property in the entire Administrative Region of Attica (includes Piraeus and most of the capital region), the Regional Units of Thessaloniki, Mykonos, Santorini, islands with a population of over 3,100 inhabitants; or
• Minimum investment of €400,000 in a property in other areas
• The investor must buy a single property with a minimum area of 120m2, and can’t offer the property for short-term rentals.
• The investor can qualify for a minimum investment of €250,000 if the investor converts commercial properties to residential use; or restore listed buildings of historical or cultural significance, regardless of size or location.

Other Qualifying Investments

While real estate is the most popular choice, Greece also offers non-property investment options for applicants as well. Eligible investments include:

• Long-Term Lease or Timeshare – Enter into a 10-year timeshare or lease agreement for hotel accommodation or furnished tourist residences. The minimum investment ranges from €400,000 to €800,000 depending on the property’s location.
  
• Bank Deposit – Place a fixed-term deposit of at least €500,000 must be deposited in a Greek credit institution.
  
• Capital Contributions – Invest a minimum of €500,000 into a public limited real estate investment company (the company must focus exclusively on Greece), or contribute to a closed-end investment company, mutual fund, or share capital increase of a Greek-based business.
  
• Government Bonds – Purchase at least €500,000 in Greek government bonds with a remaining maturity of three years or more,. The investment must be made through a Greek credit institution.
  
• Listed Securities – Invest €800,000 in shares, corporate bonds, or government bonds traded on Greek regulated markets or multilateral trading facilities.
  
• Mutual or Alternative Investment Funds – Invest at least €350,000 in a mutual fund or alternative investment fund that invests exclusively in Greek assets, including corporate bonds, government bonds, or listed equities.

Key Benefits of Greece Golden Visa

Unlike many other EU residency-by-investment programs, the Greek Investment Visa has no minimum physical stay requirement.

Residents of Greece have access to Greece’s public healthcare and education system on the same terms as local citizens. Residents may also own and manage businesses in Greece, although employment with a Greek company requires a separate work permit.

Visa-Free Travel Across the Schengen Area

Holders of the Greece Golden Visa enjoy visa-free travel throughout the Schengen Zone, allowing them to stay in any member country for up to 90 days within a 180-day period. 

Residency for the Entire Family

A single qualifying investment grants Greek residency not only to the main applicant but also the following dependents:

• Their spouse (including same-sex spouses, following legalization in February 2024)
• Dependent children under 21 (or up to 24 if full-time students and financially dependent)
• The dependent parents of both the applicant and spouse

Flexible Residency Requirements

Unlike many other EU residency by investment programs, the Greek Investment Visa has no minimum physical stay requirement. Investors can obtain and renew residency without needing to live in Greece full-time.

Although there is no requirement to reside in Greece to maintain eligibility, Golden Visa holders have the right to live in Greece full time during the validity of their Residency Permit and subsequent extensions. 

Residents of Greece have access to Greece’s public healthcare and education system on the same terms as local citizens. Residents may also own and manage businesses in Greece, although employment with a Greek company requires a separate work permit.

Eligibility for EU Citizenship (Requires Residency Commitment)

For applicants looking to obtain Greek citizenship, Greece’s Golden Visa can act as a first step. After seven years of continuous residence (183+ days per year), investors may apply for citizenship. However, as well as satisfying the residency requirements, applicants must also:

• Pass the Greek language and cultural knowledge exams
• Establishing tax residency in Greece

To qualify for citizenship, investors must fully relocate to Greece and make a significant effort to integrate into the community. This is significantly different from the Golden Visa’s usual “no minimum stay” benefit that many investors prefer.

Greece Application Process and Timeline

Applicants provide proof of investment, clean criminal record, and medical insurance. Greece offers one of the fastest processing times in Europe, typically 6 months. Residence permits are valid for five years and renewable as long as the investment is maintained.

The Greece Golden Visa application process is relatively straightforward and begins with selecting a qualifying property and signing a Power of Attorney so that a lawyer can complete the purchase on the applicant’s behalf. 

Once the property has been acquired, the next step is to book a submission date in Greece. At this stage, the lawyer files the application and secures a Temporary Residence Card (TRC), which is valid for one year. 

The applicant and any dependents must travel to Greece within this one-year period to provide their biometric data. Residence permit approval is usually granted about two months after submitting the biometric data, and permits can be renewed every five years as long as the qualifying investment is maintained.

Golden Visa Greece vs Portugal: Side-by-Side Comparison

Choosing between the Greece and Portugal Golden Visa programs depends on your priorities as an investor, from minimum investment amounts to processing speed and available investment routes. 

The following comparison breaks down the most important differences between the two programs to help you make an informed decision.

Frequently Asked Questions About Golden Immigration

What are the investment options for each program?

Portugal’s Golden Visa currently allows non-real estate options, including a minimum €500,000 in qualifying private equity or venture capital funds, and a €250,000 donation cultural heritage contributions. 

Greece offers one of Europe’s most affordable property routes, with a minimum €250,000 real estate purchase (increasing to €500,000 in key regions like Athens and Thessaloniki), as well as alternative investment options in government bonds, alternative funds, and company share capital.

Which golden visa program offers better real estate opportunities?

Greece currently provides one of the most flexible real estate-based immigration programs in Europe. Investors can purchase residential or commercial property, lease tourist accommodations, or invest in multiple properties to meet the threshold. 

Portugal’s real estate option has been removed, making it no longer available for new applicants. If property ownership is your priority, Greece remains the stronger choice.

How do taxation benefits compare?

Portugal’s Non-Habitual Resident (NHR) regime can provide tax exemptions or reduced rates for 10 years on foreign income, pensions, and dividends, making it attractive for retirees and high-net-worth individuals. 

Greece offers a 7% flat tax for foreign pensioners and other tax incentives for individuals transferring tax residency, but its program is generally considered less comprehensive than Portugal.

Which program offers faster processing?

Greece is generally faster, with approval times being currently around 6 months once documents are submitted and the investment is completed. 

Portugal’s processing times are longer, typically 6–8 months, due to higher application volumes and biometric appointment scheduling.

What are the renewal requirements?

Portugal’s residence permit is valid for two years, renewable for additional two-year periods as long as the investment is maintained and the 7-day-per-year stay requirement is met. 

Greece’s permit is valid for five years and can be renewed indefinitely provided the investment (e.g., property ownership) is maintained, with no stay requirement to keep the permit active.

What are the minimum stay requirements?

Portugal requires at least 7 days in-country during the first two years and 14 days over each subsequent three year period. This minimal requirement is ideal for investors who cannot relocate immediately. 

Greece has no physical presence requirement to keep the permit valid, which is appealing for purely passive investors.

What are the family inclusion benefits?

Both programs are family-friendly. Portugal allows inclusion of a spouse, dependent children (including adult children in education), and dependent parents. 

Greece permits spouse inclusion, children up to 21 (renewable until 24 if studying), and both sets of parents. 

How do citizenship paths differ?

Portugal offers one of the shortest paths to EU citizenship, with applicants being eligible after 5 years of legal residency, applicants may apply for naturalization, provided they pass a basic Portuguese language test (A2 level) and demonstrate ties to the country. 

Greece requires 7 years of residency (183+ days in Greece per year), before applying for citizenship. Greece also has stricter language and integration requirements, including a civic knowledge test.

Which program is better for business investors?

Portugal is a good option for investors seeking fund-based opportunities, entrepreneurship, or corporate expansion into the EU, with options like job-creation investments and capital transfer. 

Greece is preferred by those seeking property rental income, tourism sector exposure, or commercial property investments. The choice depends on your risk appetite, preferred asset class, and business strategy.

What are the language requirements for each program?

For residency, neither program imposes language requirements. For citizenship, Portugal requires proof of basic Portuguese (A2 CEFR level), which can be achieved through online courses or in-person classes. 

Greece has stricter requirements, including a formal exam in Greek language and culture, which may require longer preparation for non-speakers.

How Harvey Law Group Helps Investors Compare Golden Visa Programs

Harvey Law Group is one of the few immigration law firms with direct, on-the-ground expertise in both the Portuguese and Greek golden visa programs. With over 32 years of investment immigration experience, offices in 20+ countries, including a dedicated office in Portugal and a team that has guided thousands of high-net-worth clients through EU residency programs, HLG provides investors with a single point of contact for comparing, selecting, and applying to multiple European residency programs.

Whether you are weighing Portugal’s fund-based investment route against Greece’s real estate options, or evaluating either program alongside Italy, Spain, or Malta, HLG’s multilingual legal team can provide a personalised comparison tailored to your investment goals, tax situation, family structure, and long-term mobility needs.

Contact HLG’s golden visa specialists for a complimentary program comparison consultation.

Frequently Asked Questions