When it comes to European residency-by-investment programmes, Portugal and Greece stand out as prominent choices for investors and families.
While both nations offer enticing pathways to residency, Portugal's Golden Visa programme clearly differs from the Greece Golden Visa
Portugal distinguishes itself through its investment diversity, streamlined route to dual EU citizenship, and shorter timeline to obtaining a dual EU passport with your country of origin for you and your qualifying family members.
Investment Flexibility and Options
Portugal's Golden Visa residency-by-investment programme has evolved to focus on sustainable and diversified investments. Applicants can make a €500,000 investment in a qualifying Portuguese alternative investment fund or funds.
Alternatively, donations of €250,000 towards cultural heritage preservation, or €500,000 in scientific research activities, can qualify you. Still, these are more challenging and have a lower success rate than investing in alternative investment funds approved for Portugal’s Golden Visa.
Additionally, an investor who invests €500,000 or more to establish a commercial company with a minimum of ten full-time jobs in Portugal qualifies for the programme.
In contrast, Greece's Golden Visa primarily revolves around real estate investments. The programme requires a minimum investment of €250,000 in Greek property, which can be appealing for those interested in the real estate market.
However, this focus may limit investors seeking diversified portfolios or those cautious about the volatile Greek property market fluctuations and the ability to sell the property at the end of the process.
If you want to take an investment fund route in Greece, the minimum investment is €800,000 – significantly higher than Portugal’s €500,000 requirement.
Portugal is also consistently ranked higher than Greece in Ernst & Young’s Foreign Direct Investment (FDI) Attractiveness Surveys.
Chris Marson, CEO of RTi Family Office, which supports international private wealth, said: “Our experience and analysis indicate that Portugal is the clear winner between Greece and Portugal when it comes to residency by investment and the Golden Visa programmes.
“Portugal’s stable economic situation, along with a huge influx of private wealth and investment, has seen investor confidence increase significantly over the last five years, and whilst Greece has improved its economic situation, it still comes with a high level of market risk when compared with Portugal.”
Residency Requirements and Path to Citizenship
Portugal offers a notably flexible residency requirement. Investors need to spend only an average of seven days per year in the country, making it ideal for global citizens with diverse commitments.
After five years, residents can apply for Portuguese citizenship and a dual EU passport, provided they meet basic language proficiency and other standard criteria.
Greece, on the other hand, imposes no minimum stay requirement, allowing investors complete freedom regarding physical presence.
However, this could create potential challenges as there are no yearly residency requirements. We saw with the Malta Golden Passport scheme that the EU judged it was not a Golden Visa residency programme but instead a Citizenship-for-sale programme, which has been banned and could result in Greece facing similar challenges.
Additionally, the path to citizenship from the Greek Golden Visa is longer, requiring seven years of residency before you can apply for EU citizenship.
Paul Stannard, Chairman and Founder of Portugal Pathways and the Portugal Investment Owners Club, said: “We have found, time and time again, that the opportunity to gain dual citizenship in the EU through Portugal’s Golden Visa residency by investment programme has made it the number one relocation destination in Europe.
“Currently having a shorter pathway to citizenship and a lower investment threshold, Portugal’s Golden Visa residency by investment programme makes it the ideal choice for most non-EU families looking to Europe for a second passport.
“Portugal’s climate and the fact that it is one of the safest and most stable countries in Europe, as well as its culture and growing economic outlook, have resulted in this year potentially becoming a record year for Portugal’s Golden Visa residency by investment programme.”
Quality of Life and Family Considerations
Portugal is renowned for its high quality of life, safety, education systems, and healthcare infrastructure, which is ranked third in the world - significantly higher than Greece. Portugal’s welcoming culture and stable economic environment make it an attractive destination for families.
Portugal is also ranked 21 places higher than Greece on the latest World Happiness Report.
Greece offers a rich cultural heritage and beautiful landscapes. While it provides access to public healthcare and education, the systems may vary in quality and accessibility compared to those in Portugal.
Additionally, Greece's economic fluctuations over the past decade or more may be a consideration for long-term investment planning, compared with Portugal, which has been more stable and resilient.
Greece is forecast to have a public debt of over 140% of its GDP in 2026 and higher unemployment rates than Portugal.
In contrast, Portugal has a forecast for public debt for the same period of only 89.7% of its GDP.
Portugal also has a much better credit rating, according to most internationally recognised economic rating agencies.
Which Golden Visa Residency by Investment Should You Choose?
While both Portugal and Greece offer valuable Golden Visa programmes, Portugal's approach provides greater flexibility, diversified investment options, and a more straightforward path to citizenship, as well as safety and security.
These factors, combined with its high quality of life and family-friendly environment, position Portugal as a superior choice for international families seeking European residency and a pathway to a potential dual EU passport and EU citizenship.
Watch back Portugal Pathways’ recent webinar: Securing EU Residency Through Portugal’s Golden Visa
About Portugal Pathways
Portugal Pathways has supported hundreds of Golden Visa residency-by-investment applications and provides expert guidance through its professional supply chain network on luxury property, wealth management, and tax optimisation, including post-NHR tax regime planning, as well as private healthcare, IFICI tax incentive applications, money transfers and bespoke relocation solutions to enhance life and investments in Portugal.
About Portugal Investment Owners Club
The Portugal Investment Owners Club, or P Club for short, is a unique investor membership community designed for discerning individuals, families, and organisations committed to exploring and capitalising on life in Portugal and enjoying money-can't-buy experiences and exclusive events.
Disclaimer: The information on the Portugal Pathways and Portugal Investment Owners Club (P Club for short) websites and in email communications is for general informational purposes only and should not be construed as legal, tax, or financial advice. You should consult and check with a qualified professional advisor before relying on any information provided on this website or in email communications. As it relates to investments in Golden Visas or other wealth management solutions offered by regulated and professional advisors, it is important to note that past performance is no guarantee of future returns. Private equities can be highly illiquid and come with risk and should always be under professional independent advice. Golden Visa investments need to be held for 6 to 7 years to allow for permanent citizenship/passport in the EU.
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