Recent surveys on Golden Visas show that Portugal's Golden Visa is the most preferred among investors in 2025. However, due to recent developments in Portugal, Greece is rapidly gaining popularity, attracting growing attention for the advantages it offers.
According to the 2025 Investment Migration Executive Survey, Portugal continues to be the most preferred country among global investors for the Golden Visa. The survey results show that Portugal is preferred by 25% of investors, while Greece is preferred by approximately 8%. This result has raised the question for investors: would investing in Greece be a better option than investing in Portugal?
Portugal Still Holds Its Position
According to 2025 data, the Portugal Golden Visa continues to maintain its popularity among global investors. The most important reason for this is undoubtedly the advantages it offers, such as free movement within the Schengen area and limited annual stay conditions. In the long term, the structured process leading to citizenship makes the Portugal Golden Visa a safer and more predictable option, especially for families and investors with long-term plans.
However, in recent times, legal debates have arisen regarding extending the required period for citizenship from 5 to 10 years. This situation has led to a more cautious attitude among investors and the sector as a whole. It is yet unclear if these changes would be applied retrospectively to applicants who are currently in the process. Lawyer Madalena Monteiro said that after the legislation had been released, they wanted to be treated equitably and expected that these changes would not be applied retroactively to their cases.
Due to the last legislation, new investors considering applying for the Golden Visa program have begun to hesitate about choosing Portugal. On the other hand, Greece is rapidly becoming a preferred destination thanks to its clearer and more flexible conditions.
Greece Stands Out with the Flexibility and Quality of Life
Greece Golden Visa offers investors a high degree of flexibility thanks to the absence of a physical residency requirement. There is no requirement to spend a set number of days in Greece each year to obtain or renew the residence permit. This provides a significant advantage for investors who do not plan to live in the country permanently.
However, the process of obtaining citizenship has different requirements. To apply for Greek citizenship, applicants must have:
- They resided legally in the country for at least 7 years.
- In these years, they must demonstrate that they have spent approximately 183 days in Greece each year.
- They must pass the Greek language proficiency and an exam that tests their knowledge of Greek history and culture.
This distinction allows Greece to offer short-term flexibility during the residence permit stage. For those aiming for long-term citizenship, clearer and more comprehensive conditions apply. This structure makes the Greece Golden Visa both accessible and a structured program for investors, depending on their long-term goals.
Greece’s Golden Visa: Still a Real Estate Investment Opportunity
Greece made some changes to its Golden Visa program in 2024. The previous one-size-fits-all approach required an investment of at least €250,000, and the new tiered model offers different options for investors.
Here's the new investment tiers:
|
Investment Tier |
Minimum Investment |
Areas |
|---|---|---|
|
Tier 1 |
€800,000 |
Athens, Thessaloniki, Mykonos, Santorini, and islands with more than 3,100 inhabitants. The minimum size of the property is 120 square meters. |
|
Tier 2 |
€400,000 |
Less populated regions of Greece, encouraging development in emerging areas. The property must also be at least 120 square meters. |
|
Tier 3 |
€250,000 |
Properties that were converted from commercial to residential usage, regardless of their size or location. The conversion must be completed before the application. |
|
Tier 4 |
€250,000 |
Properties of historical or cultural value that have been fully restored or reconstructed. |
Investment and Living Costs
In fact, the Golden Visa programs of both countries appeal to different investment profiles. Portugal offers long-term, structured European integration in exchange for higher investment levels. Greece, on the other hand, stands out with its more flexible conditions and quick access.
Cost of living is a key point for investors to choose a country to get a Golden Visa. When considering the cost of living in Portugal and Greece, both can be more affordable than in other European countries. Like all countries, tourist areas can be much more expensive, but they give people the opportunity to live more comfortably.
This diversity makes Greece an attractive option for investors. It appeals to different budgets across both investment and lifestyle planning.
Greece vs. Portugal: Which European Path Makes More Sense Today?
It's impossible to say there's a single ideal program for investors wishing to apply for a Golden Visa. Finding a country that meets the investor's desired characteristics is crucial. Portugal, with its well-established system and advantages, could be a good choice for many investors. On the other hand, Greece attracts investors with its more flexible conditions and lifestyle-oriented advantages.
Furthermore, even if Portugal extends the citizenship period from 5 to 10 years, it still remains a much better option for investors. This is because the program requires only 7 days of presence in the country per year for citizenship. Also, it offers the right to transition to permanent residency after 5 years. If permanent residency is obtained, the investor is not required to maintain the investment. When considering all these, investors who apply for the Portugal Golden Visa still have the flexibility and long-term stability.
On the other hand, Greece requires investors who apply for citizenship to live in the country full-time for 7 years, which corresponds to 183 days per year, and pass the language and Greek culture and history tests. Nevertheless, it is preferred mainly by those seeking a tangible asset. It is one of the few remaining programs in Europe that still offers a real estate investment opportunity with lower investment thresholds. Many traditional investors still consider real estate to be lower risk than funds, and its rental income potential is also a significant advantage. However, these benefits may be less appealing to investors who prioritize mobility, flexible investment structures, or do not plan to relocate permanently. Ultimately, which program is more suitable depends on the investor's goals, lifestyle plans, and risk profile.
