Greece vs Portugal Golden Visa
For years, Portugal and Greece have offered the two most sought-after European residence by investment programmes. With recent legislative changes to Portugal's real estate route, investors are increasingly evaluating which Mediterranean jurisdiction best aligns with their long-term objectives.
Programme rules change. Verify current requirements before investing. Information updated September 2026.
| Attribute | Greece | Portugal |
|---|---|---|
| Minimum Investment | From €250,000 (Commercial to Resi conversion) or €400,000 (Standard) to €800,000 | From €250,000 (fund investment) — real estate route suspended since October 2023 |
| Investment Type | Real estate purchase, conversion, or commercial investment | Investment funds, scientific research, cultural heritage, company capitalisation |
| Residence Permit | 5-year renewable permit | 2-year initial, renewable |
| Family Inclusion | Spouse, children up to 21 (renewable to 24), dependent parents | Spouse, children, dependent parents |
| Physical Presence | 0 days — no physical presence required to maintain residence | Minimum 7 days per year (first year), 14 days per 2-year period |
| Property Eligibility | Multiple properties permitted on €250K/€400K, Single property on €800K | Real estate no longer available for new applications |
| Tax Considerations | Non-Dom regime available. Only Greek-source income taxed if not non-dom. | Non-Habitual Resident regime ended for new applicants in 2024 |
| Citizenship Pathway | Eligible after 7 years of actual residence and language proficiency | Eligible after 5 years of legal residence |
| Schengen Position | Schengen member — 90/180-day travel in Schengen Area | Schengen member — 90/180-day travel in Schengen Area |
| Lifestyle | Mediterranean climate, rich history, exceptional islands, vibrant culture | Atlantic coast, temperate climate, strong expat infrastructure |
Strategic Analysis
The most significant differentiator between the two programmes is the investment vehicle. As of late 2023, Portugal has entirely removed real estate investment from its Golden Visa qualifying routes, pivoting instead to investment funds, cultural contributions, and scientific research.
Greece remains one of the few premium European jurisdictions where you can still secure residency through direct, titled real estate ownership. For investors who prefer tangible assets or wish to use their investment property as a European base, Greece provides a clear and well-structured pathway.
Physical Presence & Citizenship
Portugal requires a nominal physical presence averaging 7 days per year, which is attractive for those who cannot relocate. However, Portugal offers a straightforward path to citizenship after 5 years, even without full relocation (provided basic language requirements are met).
Greece requires zero physical presence to maintain the residence permit. However, the path to Greek citizenship requires actual physical relocation (living in Greece for 7 years) and fluency in the language. Therefore, Greece is generally viewed primarily as a robust residency solution rather than a fast-track citizenship passport programme.
Which programme fits your objectives?
The choice often depends on whether you seek direct real estate ownership or are comfortable with fund investments, and whether your ultimate goal is a European passport or simply flexible residency and Schengen mobility.
Book a private consultation