This post will assist you in deciding between the Greece and Portugal Golden Visa Program if you have already researched EU residency by investment and are unsure which to choose.
In exchange for a qualifying investment, non-EU candidates are granted residency via immigration and investment schemes.
Overview of Greece vs Portugal Golden Visa
The golden visa programs of Portugal and Greece share many commonalities. It is no surprise that many people decide to invest in these two attractive and secure nations each year, given their favorable Mediterranean climate, inexpensive cost of living, delectable cuisine, breathtaking beaches, and vibrant cultures.
Both schemes offer various qualifying investment options for non-EU citizens, allowing applicants and their families to get an EU residency in a few months.
Both programs eventually lead to the possibility of getting an EU passport.
What are the differences between the Greek and Portuguese residency program?
Both programs provide non-EU citizens with a variety of qualifying investment choices, enabling candidates and their families to get EU residency in a matter of months.
Both initiatives eventually pave the way for obtaining an EU passport.
Portugal Golden Visa Program = Easy and fast tracked path to EU citizenship
Applicants for the Portuguese golden visa must invest a minimum of €280,00 in real estate in any of the low-density areas in Portugal. This investment price tag allows you to include family members, spouse, children, and dependent parents.To maintain your residency status, you are required to spend seven days in the first year and fourteen days in the following years.
Greece Golden Visa = Cheap way to EU citizenship
Candidates for the Greek Golden visa must invest a minimum of €250,000 in Greek real estate. For the main applicant and many family members (including dependent children under the age of 24 and both spouses’ parents), this is sufficient to qualify for a Greek resident visa. Additionally, no time must be spent in Greece.
What are the benefits of being a European Resident?
Having citizenship in one of the European nations is an attractive and advantageous offer. Consider the key benefits of obtaining European citizenship:
- Healthcare, a top-notch school system, and good living standards.
- Movement independence. What does this mean to you? You are free to work, travel, and enroll in school anywhere in the Schengen region if you are an EU citizen. An important perk if you’re a business owner with international partners
- Flexible residence obligations, where one must stay for at least one week every 365 days to maintain their status in the extended nation, there are no requirements for permanent residency.
- A spouse and children may be awarded a residency along with the primary application. Even parents may be included in the application in some areas.
Golden Visa Europe Programs’ Taxation
Everyone should be concerned about this despite having nothing to do with the Golden Visa program. You only owe taxes on income made in the hosting country as long as you are not a tax resident in these nations. Your foreign profits are not subject to taxation.
Portugal has a tax policy known as the Non-habitual Residency Scheme that aims to assist foreigners in becoming tax residents in Portugal. It is among the most alluring tax structures in the EU.
How do you choose the program to apply to now? Greece and Portugal’s Golden Visas share a lot in common in terms of application time, passport ranking, needed minimum investment, and family eligibility.
But it’s vital to remember that compared to Portugal, Greece places more economic restrictions on its foreign inhabitants. In Greece, you can reside but not work, whereas Portugal Golden Visa holders are free to work without limits in Portugal.
Greece’s Golden Visa may not be the ideal option for you if your main objective is to decrease your taxation because Portugal offers excellent tax incentives for its foreign residents under the NHR tax regime, while Greece levies an income tax rate that starts at 22% on all of its citizens. Due to Greece’s high property taxes, real estate may also prove to be more expensive there than in Portugal.
In contrast to the seven-year requirement for obtaining a Greek passport, the Portuguese scheme allows applicants to apply for a passport five years before gaining residency.
Greece, meanwhile, has no residency requirements and inexpensive investment opportunities. Portugal has earned a reputation as one of the top nations for foreigners to live.
Which Golden Visa program is the best? Comparison: Portugal vs Greece
It varies. Various factors affect the answer to that question, depending on the investor’s requirements. However, the Portugal Golden Visa is the best alternative because it has more investment options, provides excellent tax benefits to foreign residents, allows its holders to work in Portugal, and is ultimately the quickest path to obtaining EU citizenship.
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