The Greek Golden Visa Program began in 2013 and provides non-EU citizens with Greek residence through real estate or other investments. The investment requirement raised to €500,000 in some locations from €250,000. In addition, this program allows for a five-year residence permit, family inclusion, and as well as visa-free travel inside the Schengen area.
On the other hand, the Spanish Golden Visa Program offers a compelling journey for non-EU nationals desiring to live, study, and work in Spain. You may have chances for permanent residency and eventual citizenship. After five years of temporary residence, you can apply for permanent residency. It then leads to citizenship after ten years, subject to certain restrictions.
If you plan to live your life in Europe, you can find useful gateways from both golden visa options in Spain and Greece.
Greece vs. Spain Golden Visa Programs: Benefits
The Golden Visa programs in Greece and Spain provide interesting perks for investors. Neither option needs a minimum stay and allows investors to keep residence without physically being present in the country.
Benefit | Greece | Spain |
Visa-free travel to Schengen area | Yes | Yes |
Right to live, work, and study in the country | Yes | Yes |
Family reunification | Yes, includes spouse, children, parents, and parents-in-law | Yes, includes spouses, children, and parents |
Investment options | Real estate, cultural and artistic donations, venture capital funds, business set-up, job creation | Real estate, government bonds, shares, business projects |
Investment threshold | €250,000 for real estate | €500,000 for real estate |
Minimum stay requirement | No | No |
Citizenship option | Not available | Yes, after ten years of residence (or two years for former Spanish colonies) |
Greece vs. Spain Golden Visa Investment Options
Investment Type | Spain | Greece |
Real Estate Investment | Minimum €500,000 | €250,000 – €500,000 |
Business Development | Minimum €1 million | Not available |
Capital Transfer | Minimum €1 million | Not available |
Lease Agreement | Not available | Minimum €250,000 |
*Other Investments | Not available | Minimum €400,000 |
Spain Golden Visa Investment
Real estate investment
Invest at least €500,000 into commercial or residential properties that can be rented out. Investments may be combined or mortgaged above the minimum.
Business Development
Aims to strengthen the Spanish economy by generating jobs, having a socioeconomic impact, and contributing to scientific or technical innovation, with a minimum investment of €1 million.
Capital Transfer
Making a minimum of €1 million investment in Spanish Treasury Bonds, Spanish company shares, or bank deposits, all of which are recognized for their financial stability and competitive returns.
Greece Golden Visa Investment
Real Estate Investment in Greece Golden Visa
Investment requirements range from a minimum of €250,000 outside key municipalities to €500,000 inside Athens, Thessaloniki, Mykonos, and Santorini, with options for investing in multiple properties or a single investment property in high-value locations.
Lease Agreement in Greece Golden Visa
A ten-year lease agreement for hotel accommodations or furnished tourist residences, with a €250,000 minimum rental sum payable in one installment throughout the ten-year duration.
*Other investments include a minimum of €400,000 in Greek government bonds, real estate
investment company shares or bonds, and Greek-based venture funds/private equity.
Greece vs. Spain Golden Visa Requirements
The required documents differ between the two as they reflect the two countries’ governments’ attitudes while welcoming investors and their families.
Criteria/Requirement | Spain | Greece |
Minimum Investment | – €500,000 in real estate – €2 million in government bonds – €1 million in shares | – Real estate investment starting from €250,000 |
Age Requirement | At least 18 years of age | At least 18 years of age |
Criminal Record | Clean record in the last five years | Clean criminal record |
Health Insurance | Required private healthcare | Medical insurance for applicant and family |
Residency Requirement | No minimum stay required | No need to visit Greece to start the application |
Proof of Funds | Yes, sufficient funds to live without working | Not explicitly mentioned, but financial stability required |
Required Documents | – Valid passport – Proof of funds – Medical insurance – If applicable, document confirming schooling for children | – Application document – Passport photos – Valid passport – Insurance covering hospitalization and medical care |
Application Process Notes | Documents translated into Spanish and legalized | Application can start without visiting Greece; certain fees apply |
Get Golden Visa: Who We Are and How We Can Help You
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Greece vs. Spain Golden Visa Application Process
Spain Golden Visa vs Greece Application Fees
Fee Type | Greece | Spain |
Application Fee | €2,000 per main applicant – €500 per family member | €70.40 per applicant |
Residence Permit Fee | €16 per applicant | €10.60 per applicant |
Legal Fee | Around €5,000 (varies by lawyer) | Around €10,000 (varies by lawyer) |
Translation Fee | Around €100 per document (varies) | Around €100 per document (varies) |
Tax Fee | About 3% for real estate (varies) | About 10% for real estate (varies) |
Other Administrative Costs | Around €1,000 for real estate (varies) | Around €2,000 for real estate (varies) |
Spain Golden Visa vs Greece Validity Period
Validity Time | Greece | Spain |
Initial visa | One year | One year |
First renewal | Two years | Two years |
Second renewal | Two years | Five years |
Long-term residence | After five years | After five years |
Citizenship | Not available | After ten years |
Conclusion
Golden Visa Programs, like Spain and Greece, offer investors many benefits alongside the possibility of residency and citizenship. As there are many criteria, you and your family may consider your needs and accordingly plan your investment.
We hope you found helpful information in this article and had a chance to clearly compare Spain vs Greece Golden Visa Programs.
If you wonder, you may also discover the comparison of Spain vs Portugal Golden Visa Programs.
You can also discover what is expected to be updated on the Greece Golden Visa Program.
Frequently Asked Questions
What are the investment options to obtain a golden visa in Spain, Portugal, and Greece?
The investment options for obtaining a golden visa in Spain, Portugal, and Greece depend on the country. Generally, real estate, capital transfer, business development, fund subscription, and donation are among the options.
How long does it take to obtain a golden visa in Spain and Greece?
The type of investment, the completeness of the application, and the workload of the authorities are some of the factors. The average time in Spain is around 10 working days. You may need to wait between 3 and 5 months for Greece.
Which EU country gives the fastest visa?
The fastest European Union country that grants a visa through investment is Malta. Also, the country offers citizenship by investment within a year. However, Malta’s program is also the most expensive one. As an investor, you need to invest a minimum of €1.15 million.
Which golden visa programs offer the possibility of citizenship?
The golden visa programs of Portugal, Spain and Malta offer possibilities of citizenship. When it comes to Portugal and Spain, there is a requirement of a minimum of five and ten years of residence, respectively, before applying for citizenship. Malta grants citizenship within a year of investment without any residence requirement.
What rights does Spanish citizenship provide?
When you obtain Spanish citizenship, you can access various rights, such as the right to live, work, and study in Spain and any EU country, the right to vote and participate in national and EU elections, the right to access public healthcare and education, the right to travel visa-free to over 180 countries, and the right to enjoy the Spanish culture and heritage.
What is the difference between the Portuguese Golden Visa and the Spain & Greece Golden Visa?
One of the main differences between the Portugal Golden Visa Program and the Spain Golden Visa & Greece Golden Visa is the investment threshold and the residence requirement.
Does Spain and Greece offer tax residents a special regime?
Spain and Greece offer tax residents a special regime, reducing their tax liability on their foreign income. Spain has the Beckham Law. It allows foreign residents to pay a flat tax rate of 24% on their worldwide income for the first six years of residence. Greece has the non-dom program and it sets a flat tax of €100,000 for 15 years for foreign residents, regardless of their income source or amount.
How long does it take to get a residence card in Spain and Greece?
In Spain, the residence card is issued within 20 days of approval of the visa application. In Greece, you may need to wait for your residence card for about two months after submitting the biometric data.