Greece Golden Visa vs Portugal Golden Visa (ARI)
A factual side-by-side comparison of two residency programmes. All figures are drawn from the canonical program pages — follow either link in the table header for sources and the full profile.
Key Differences at a Glance
- ›Greece Golden Visa is faster: 4 months vs 6 months for Portugal Golden Visa (ARI).
- ›Faster to citizenship: Portugal Golden Visa (ARI) at ~5 years, vs 7 for Greece Golden Visa.
- ›Lower capital: Greece Golden Visa (250,000 USD) vs 500,000 for Portugal Golden Visa (ARI).
Greece Golden Visa Greece · investment | Portugal Golden Visa (ARI) Portugal · investment | |
|---|---|---|
| Country | Greece | Portugal |
| Category | Investment | Investment |
| Application Fee | $2,200 | $5,400 |
| Minimum Income | — | — |
| Minimum Investment | $250,000 | $500,000 |
| Processing Time | 4 months | 6 months |
| Family Included | No additional investment required; covers spouse and dependent children up to 21, as well as parents and parents-in-law | No additional investment required for dependent family members |
| Path to PR | Yes — 5 years | Yes — 5 years |
| Path to Citizenship | Yes — 7 years | Yes — 5 years |
| Physical Presence | No minimum annual stay required to maintain the Golden Visa; 7 years of actual residence required for citizenship | Only 7 days per year in the first year, and 14 days per every subsequent 2-year period |
| Dual Citizenship | Allowed | Allowed |
| Tax Impact | No mandatory tax residency triggered by the visa; those who choose to tax-reside may benefit from Greece's non-dom lump sum tax of €100,000/year on foreign income for up to 15 years | Minimal physical presence means most holders do not trigger Portuguese tax residency; those who do may qualify for NHR status |
| Tax Residency Trigger | 183 days/yr | 183 days/yr |
| Worldwide Taxation | Yes | Yes |
| Renewal Cost | $2,200 | $2,700 |
About Greece Golden Visa
Greece's Golden Visa is one of Europe's most accessible investment-residency programmes. Originally a uniform €250,000 real-estate threshold, the 2024 reform raised investment minimums sharply: €800,000 in high-demand zones (Attica, Thessaloniki, Mykonos, Santorini, islands over 3,100 inhabitants), €400,000 in other regions, with the legacy €250,000 threshold preserved only for commercial-to-residential conversions and specific listed-building restorations. Alternative routes include €500,000 in Greek capital-company shares, €500,000 in mutual funds or AIFs, or €500,000 bank deposit. The visa grants 5-year renewable residence with no minimum physical-presence requirement — making it one of the lowest-effort EU residency permits and a popular passive-investment route for non-EU HNWIs. Holders gain Schengen visa-free travel but cannot acquire Greek citizenship through this route directly; standard naturalisation requires 7 years of physical residence plus B1 Greek language. Greece levies progressive income tax to 44%, but a flat-tax regime for qualifying HNWIs taxes worldwide income at €100,000/year for up to 15 years. Property tax (ENFIA) applies annually to the underlying real-estate investment.
Full Greece Golden Visa profile →About Portugal Golden Visa (ARI)
Portugal's Golden Visa (Autorização de Residência para Investimento, or ARI) is an investment-based residency permit for non-EU/EEA nationals, notable for one of Europe's lowest physical-presence requirements: just 7 days in year one and 14 days per subsequent two-year period. Since an October 2023 reform, real estate no longer qualifies; current routes include €500,000+ in an approved investment fund, a €500,000+ capital transfer combined with job creation, or €250,000+ toward cultural heritage or the arts, maintained for the full 5-year period. No additional investment is required for family members. The Golden Visa leads to permanent residency and, since the 2026 Nationality Law, citizenship eligibility after 10 years of legal residence (applications pending before 19 May 2026 keep the former 5-year timeline), with an A2 Portuguese language test. Because minimal time in Portugal is needed, most holders never trigger Portuguese tax residency (183-day threshold), and the narrower IFICI regime that replaced NHR in 2024 generally doesn't apply to passive investors. The main practical obstacle is administrative: AIMA has faced severe backlogs since its 2023 reorganisation, and residence-card issuance can take a year or more beyond official timelines.
Full Portugal Golden Visa (ARI) profile →Gotchas to Watch For
Greece Golden Visa
- ⚠September 2024 reform raised thresholds significantly; Athens/Thessaloniki/Mykonos/Santorini now €800k minimum
- ⚠No physical presence required, but also no path to citizenship without 7 years actual residence
- ⚠Greek Golden Visa ≠ EU Schengen freedom; allows visa-free Schengen travel but not residence
- ⚠Property cannot be rented short-term (Airbnb) in Athens/Thessaloniki districts under some interpretations — consult lawyer
- ⚠Citizenship requires 7 years of genuine residence, B1 Greek, civic test
Portugal Golden Visa (ARI)
- ⚠Real estate investment no longer qualifies as of October 2023 reform
- ⚠AIMA backlog means residence card issuance currently takes 1-2+ years
- ⚠Investment must be maintained for minimum 5 years (citizenship eligibility window)
- ⚠IFICI tax regime generally does not apply to passive investors
- ⚠Source-of-funds AML documentation is strictest among EU Golden Visas
Neutral reference — we don't recommend one programme over another. Programmes change: always verify each detail against the official source linked on the individual program pages.