Greece Golden Visa vs Spain Non-Lucrative Visa
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
- ›Spain Non-Lucrative Visa is faster: 3 months vs 4 months for Greece Golden Visa.
- ›Faster to citizenship: Greece Golden Visa at ~7 years, vs 10 for Spain Non-Lucrative Visa.
- ›Greece Golden Visa requires a 250,000 USD investment; Spain Non-Lucrative Visa does not.
Greece Golden Visa Greece · investment | Spain Non-Lucrative Visa Spain · passive income | |
|---|---|---|
| Country | Greece | Spain |
| Category | Investment | Passive Income |
| Application Fee | $2,200 | $160 |
| Minimum Income | — | $2,800 /mo |
| Minimum Investment | $250,000 | — |
| Processing Time | 4 months | 3 months |
| Family Included | No additional investment required; covers spouse and dependent children up to 21, as well as parents and parents-in-law | Additional €600/month per dependent family member |
| Path to PR | Yes — 5 years | Yes — 5 years |
| Path to Citizenship | Yes — 7 years | Yes — 10 years |
| Physical Presence | No minimum annual stay required to maintain the Golden Visa; 7 years of actual residence required for citizenship | Must spend at least 183 days per year in Spain to maintain residency and advance toward permanent residency |
| Dual Citizenship | Allowed | Not 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 | Spending 183+ days in Spain triggers Spanish tax residency; foreign income may be taxed. The Beckham Law may provide a 24% flat tax rate for qualifying newly arrived residents for up to 6 years. |
| Tax Residency Trigger | 183 days/yr | 183 days/yr |
| Worldwide Taxation | Yes | Yes |
| Renewal Cost | $2,200 | $200 |
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 Spain Non-Lucrative Visa
Spain's Non-Lucrative Visa is a residency permit for individuals who can financially support themselves without engaging in any work or business activity in Spain. Applicants must demonstrate sufficient funds — approximately €2,400 per month or €28,800 per year — along with private health insurance with full coverage in Spain. The visa grants residency for one year, renewable for two-year periods, and provides a path to permanent residency after five years and Spanish citizenship after ten years of legal residence.
Full Spain Non-Lucrative Visa 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
Spain Non-Lucrative Visa
- ⚠NLV prohibits any work, including remote work for foreign employers (Spain strictly enforces this)
- ⚠Spain does not allow dual citizenship with most countries — naturalising usually requires renouncing original citizenship
- ⚠Physical presence of 183+ days triggers worldwide income taxation
- ⚠Health insurance must have no co-pays and no coverage limits — a common rejection reason
- ⚠Renewal at 1 year requires 2 years of funds on hand for next period
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.