Golden Visa is a scheme that permits residency in a country. Through the Golden Visa Programs, investors can reside in a country after making a qualifying investment. The three most sought-after residencies in exchange for an investment in Europe are Portugal, Spain and Greece. Although all three Golden Visa Programs are quite similar in principle, they vary in certain aspects, which we’ll discuss in the latter part of the article. First, the basics.
What is Portugal’s Golden Visa?
The Portugal Golden Visa was launched in 2012 by the Portuguese government. This program offers Portuguese residency to non-EU investors and their families, leading to Portuguese citizenship in exchange for a minimum qualifying investment of €280K.
What is the Spain Golden Visa?
The Spain Golden Visa was established in 2013 by the Spanish government to allow foreign investors (outside the EU) to invest in the country to boosts its economy. This program offers investors and their families an easy and quick way to obtain a permit to reside in Spain after making an investment of at least €500K in real estate, business, bank deposits or government bonds.
What is Greece’s Golden Visa?
The Greece Golden Visa was launched in 2013 by the Greek government. This immigration and investment program offers investors and their families Greek residency after making a minimum investment of €250K.
Golden Visa Comparison: Portugal vs Spain vs Greece
Let’s go through the comparison between the three Golden Visa Programs in the below table:
| Portugal | Spain | Greece | |
|---|---|---|---|
| Global Visa Rank | 6th | 4th | 8th |
| Tax Benefits | NHR Tax Regime allows tax exemption for up to 10 years | 24.75% on income derived in the country | Income tax starts at a rate of 22% |
| Investment Route Options | Minimum investment: €280K Investment routes: | Minimum investment: €500K Investment routes: | Minimum investment: €250K Investment routes: |
| Renovations, real estate, business startup, private equity funds, research, national heritage funds, capital transfer | Capital transfer, real estate, business, and government bonds | Capital contribution, real estate, capital transfer, bonds, shares, or government bond | |
| Tax Benefits | NHR Tax Regime allows tax exemption for up to 10 years | 24.75% on income derived in the country | Income tax starts at a rate of 22% |
| Stay Requirement For Residency | 7-day requirement the first year and 14 days every two years after | No requirement | No requirement |
| Stay Requirement For Citizenship | 7 days/year for 5 years of residence | 10 years of residence, where the majority of each year is spent in Spain | 183 days/year for 7 years of residence |
| Citizenship Tests | Portuguese Language Test | Spanish Citizenship Test, Spanish Language Test | Greek Citizenship Test, Greek Language Test |
| Real Estate Value | Avg. price is €1,500-2,000 per square metre | Avg. price is €1,677 per square metre | Avg. price is €1,500 per square metre |
| Attractions | Exquisite beaches, pleasantly mild climate, delicious food and wine, welcoming locals and low cost of living | World-class beaches, rich culture, mouth-watering cuisine, and high living standards | Beautiful beaches, great weather, and beautiful islands. |
Why Portugal has the best Golden Visa? Points where Portugal’s Golden Visa shines
- Portugal’s tax regime is favourable for citizens and residents alike.
- The program permits children above 18 years, unlike Greece and Spain’s Golden Visa, provided they are full-time students.
- The fastest and the easiest way to EU citizenship and at a low cost.
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