By the end of 2019, Greece had already received 3.6 billion euros (e.g. The investment options, the benefits, and the extent of the preferential treatment differ depending on the issuing country. Portugal Golden Visa Program. Spain’s program saw a tremendous boost in 2017, growing by 140% in that year alone. It is also important to take inheritance tax into consideration, because when you die the property inherited by family member will be subjected to tax. This visa is for non-EU investors who invest a minimum amount as defined by law. Since its launch in 2012, the Golden Visa Portugal program has granted many investors with an expedited residency permit allowing free travel access within a majority of European countries (Schengen area). Thirdly, to decide which program to pick, think about which country is close to you from where you live. Don't worry, I won't spam you. Recommend it to your best friend, your mom, the stranger you met at Years 2 & 3: your permit is renewed for two year periods in each of these years. This is a very important difference. At such a pace, Greece has every chance of overtaking Portugal next year. It is also the most popular investment method in all three countries. As we move toward the end of 2019, we take a look at two of the most popular golden visa programs in the European Schengen area. Two Experts Answer. Portugal is close proximity geographically, this way you dont have to fly far. The residence permits may be renewed every five years. Get an individual consultation with a Portugal Golden Visa expert. As for time spent in the country, Portugal has a minimum, whereas Spain and Greece have no stay requirements for residency to be continued. These two schemes have helped raise billions of euros in foreign investments, most of these invested in real estate sector. The Portuguese Golden Visa program is one of the most popular both in Europe and the world, and for good reasons: You can choose from a range of relatively affordable investment options that will give you both permanent residency and citizenship in 5-6 years. Other benefits vary between countries. Best Citizenships is now a part of Yellow network, “Very honest and professional service. In 2012, it launched the golden visa program to prop up its real estate market. In the below chart, you may find a detailed comparison of various tax rates and programs in the three European countries; Portugal has one of the most favourable tax schemes for foreigners in the European Union. The parliament is working on creating a program where foreigners, who would like to relocate to Greece and become tax residents pay a flat rate of 7% for the first ten years of their residence. A residency in Portugal permits one to travel throughout the whole Schengen Area and further. It offers non-EU/EEA applicants and their families a special residence permit in exchange for a 5-year investment in Portugal. The Greek Golden Visa program enables an entire non-EU family, including dependent children up to age 24 and the parents of both spouses, to obtain permanent residency status in Greece within just 3 months (in some areas it takes less time) with a real estate investment of just €250,000. In order to upkeep the residence permit and have the right to renew it, all three countries require the applicant to preserve the investment. The Golden Visa program emerged from Portugal’s real estate residency program. Portugal also offers a Golden Visa program, designed to boost the Portuguese economy by attracting foreign investment from non-Europeans. We measured on average 30% more requests in 2020 than in 2019 for the Greek golden visa. This means that with a resident permit from Portugal, an investor is equally free to travel freely across these 26 countries. Gate community! There are no minimum residency requirements to maintain this visa. There is no doubt that Portugal, Spain, and Greece are all beautiful Mediterranean-like countries. The Golden Visa programs grant investors the right to live in a country in exchange for a qualifying investment. There are no minimum residency requirements to maintain this visa. Privacy policy. The Golden Visa Program launched by the Portuguese Authorities is a fast track for citizens from non-EU countries to obtain a fully valid residency permit in Portugal (“Golden Visa”).. Although Portugal’s Golden Visa program outweighs the counterparts in Spain and Greece, the family reunification allows for the most flexibility in the Greece Golden Visa program. Greece has rivaled Portugal in recent years in terms of the most popular citizenship by investment programs in Europe. Greece vs Portugal Golden Visa. So if you looking for long shot at EU citizenship, go with Portugal. One such program is the Golden Visa Program for citizenship in Portugal. The Greek entry level tax rate on income is 22%. It has been particularly popular among applicants from China, Brazil, South Africa, Turkey, and Russia. The residence by investment program set out the guidelines on how non-EU citizens could obtain permanent residence in the country by investing €250,000 in Greek real estate. By Tricia Pimental. Greece is far away if you are from North America, Canada or Brazil. Portugal’s Golden Visa may not be Europe’s only residency by investment program, but it is arguably the most popular—and most successful. This visa is valid for five years and can be renewed periodically. What is it? Each program provides the right to live in the corresponding country and travel within the Schengen countries without the need for an additional visa. Here are the prices, all of them payable directly to the Immigration and Borders Service (SEF): The processing fee of the first application or the renewal of the Golden Visa for the first applicant: €527.60; This website uses cookies to improve your experience. The Greece Golden Visa Program is a residence-by-investment program launched in 2013 that enables non-EU nationals and their family members to obtain permanent residence permits in Greece. It has gained popularity due to the relatively low ticket size of its real estate investment requirement; 250,000 euros. The Portuguese passport allows the … Although quite similar in principle, the programs vary in certain aspects. The Golden Visa Greece program has been around since 2002 and was created as a way of enabling non-EU citizens the right to gain a residence permit in exchange for a 5-year real estate investment. 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