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 passive-income residence for people who can support themselves without any work in Spain—crucially, it prohibits all employment, including remote work for foreign employers, which Spain strictly enforces. The defining requirement is passive income of at least ~€2,400/month (400% of the IPREM index), or equivalent savings around €28,800, plus €600/month per dependent family member, and private health insurance with no co-pays or coverage limits (a common rejection reason). The application fee is about $160, with realistic first-year costs of $5,000–9,500. Processing takes roughly 18–36 weeks. Spouse and children can be included. Holders must spend at least 183 days per year in Spain, which triggers Spanish tax residency on worldwide income; the Beckham Law's 24% flat rate generally isn't available to NLV holders since it requires a Spanish employer or director role. Permanent residency comes after five years and citizenship after ten (A2 Spanish)—but Spain does not allow dual citizenship with most countries, so naturalising usually means renouncing your original nationality.
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.