Both Greece and Portugal offer Golden Visa pathways to EU residency, but their requirements and structures have been changed significantly in 2025. Greece remains property-focused with investment thresholds from €250,000 and no residency obligations, while Portugal has eliminated real estate eligibility, requiring €500,000 minimum investments in approved funds. For discerning investors, the decision involves aligning investment style, residency ambitions, and lifestyle preferences with each programme’s unique advantages.
Quick programme Comparison
| Criteria | Greece | Portugal |
| Minimum Investment | €250,000-€800,000 (property) | €250,000-€500,000 (funds/projects) |
| Residency Requirement | None | 14 days every 2 years |
| Citizenship Path | 7 years + language test | 5 years |
| Permit Duration | 5 years, renewable indefinitely | 2 years, renewable |
| Processing Time | 4-12 months | 18+ months |
| Tax Benefits | Non-Dom: €100,000 fixed tax | NHR 2.0 for science/technology professionals |
Investment Requirements and Options
Greece: Property-Focused Strategy
Greece maintains its real estate-centered approach with tiered pricing:
- €800,000: Prime locations including central Athens, Thessaloniki, Mykonos, and Santorini.
- €400,000: Secondary regions across mainland Greece and selected islands.
- €250,000: Special category for converted properties.
The €250,000 option applies specifically to commercial-to-residential conversions where developers purchase old commercial buildings (former offices, warehouses, hotels) and completely transform them into modern residential complexes. Investors receive brand new, move-in-ready residences with A+ energy ratings, smart layouts, and premium finishes without project management burden. This route allows access to prime locations at lower investment levels.
Portugal: Diversified Investment Approach
Portugal eliminated real estate as qualifying investment, focusing on economic development:
- €500,000: Investment in qualifying equity funds (excluding real estate exposure).
- €250,000: Contributions to cultural projects (€200,000 in low-density areas).
- €500,000 + 5 jobs: Business investment creating minimum five new positions.
This divergence reflects distinct philosophies: Greece offering tangible property ownership with appreciation potential, Portugal channeling funds into cultural, scientific, and corporate development.
Processing Time and Citizenship Pathways
Greece: Efficiency with Requirements
- Processing: 4-12 months for residence permits.
- Residency Requirement: None for permit maintenance.
- Citizenship: 7 years of actual residence (183+ days annually) plus Greek language/civics examination.
Portugal: Flexibility with Delays
- Processing: Officially 12 months, practically 18+ months due to AIMA backlogs.
- Residency Requirement: Minimal 14 days every two years.
- Citizenship: Currently under reform—likely extending from 5 years to 10 years with Portuguese language test (A2 level).
Important! Portugal’s citizenship pathway advantage is disappearing. The pending reform extending residency requirements from 5 to 10 years eliminates Portugal’s traditional “fast-track” appeal, potentially making Greece’s 7-year path more attractive.
Tax Implications and Benefits
Greece: Predictable Global Tax Structure
- Corporate Tax: 22% (2025).
- Income Tax: Progressive 9-44%.
- Property Tax: ~3%.
Non-Domicile Regime: Fixed €100,000 annual tax on all foreign-sourced income regardless of amount, valid up to 15 years—highly attractive for globally mobile investors.
Portugal: Professional-Focused Benefits
- NHR 2.0: Replacement for classic Non-Habitual Resident regime, targeting science/technology professionals with 20% flat tax on qualifying domestic income.
- Global Income Tax: Full exemption, except in the case of pensions and income from tax havens.
- Corporate Tax: 21% (2025).
- Income Tax: Progressive 14.5-45%.
- Property Tax: ~6.5%.
- No traditional inheritance tax: 10% stamp duty on gratuitous transfers outside immediate family.
Greece appeals to globally mobile investors seeking predictable, capped taxation. Portugal incentivises skilled professionals but offers less certainty for passive investors.
Programme Stability and Political Risk
Greece: Stable Framework
Its residency by investment has experienced minimal disruption recently. The political environment remains supportive of foreign investment, with adjustments typically limited to taxation or thresholds while protecting existing permit holders.
Portugal: Active Reform Period
Portugal’s programme faces significant changes:
- Draft legislation proposes extending citizenship residency requirements from 5 to 10 years.
- Investment categories may be revised or eliminated.
- Processing delays continue affecting new applications.
- Existing residents benefit from legal non-retroactivity protection.
Lifestyle and Investment Philosophy
Greece: Mediterranean Lifestyle with Tangible Assets
- Classic Mediterranean rhythm with long summers, mild winters.
- Lower cost of living, particularly attractive for families and retirees.
- Growing expat communities in Athens, Thessaloniki, and Crete.
- Direct property ownership with potential rental income and capital appreciation.
Portugal: Cosmopolitan Living with Investment Diversification
- Modern infrastructure and highly international communities in Lisbon, Porto, Algarve.
- Atlantic climate with manageable summers and gentle winters.
- Appeals to remote professionals and globally connected individuals.
- Diversified investment portfolio without direct property exposure.
Strategic Recommendations
The programme selection should align with investment objectives, residency goals, and risk tolerance based on current market conditions and regulatory trends.
Choose Greece If:
- You prefer tangible property ownership with rental income potential.
- You want faster processing times and programme stability.
- You seek predictable global tax treatment through a Non-Dom regime.
- You favor Mediterranean lifestyle and lower living costs.
- You need EU citizenship within 7 years.
Choose Portugal If:
- You prefer diversified, non-property investments.
- You value minimal residency requirements for permit maintenance.
- You qualify for tech/science professional tax benefits under NHR 2.0.
- You prioritise cosmopolitan lifestyle and international business networks.
- You can commit before pending reforms take effect.
Professional Guidance and Implementation
According to European Commission data, investment migration programmes continue evolving rapidly, making professional guidance essential for optimal outcomes.
Successfully navigating Golden Visa programmes requires strategic insight and careful planning to maximize benefits while ensuring compliance with evolving requirements.
Both programmes offer compelling advantages but serve different investor profiles and objectives. Greece currently provides greater stability and predictability, while Portugal offers flexibility but faces reform uncertainty.
The optimal choice depends on your investment philosophy, lifestyle objectives, and timeline flexibility. Consider consulting with specialists who can evaluate your specific circumstances against current programme requirements and anticipated changes.
Ready to explore European residency by investment opportunities? Professional guidance ensures your investment migration strategy aligns with long-term goals while navigating complex regulatory environments and maximizing programme benefits.
