golden visa greece vs portugal

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Portugal is an extremely family-friendly nation, and the Golden Visa Programme extends to dependants, providing an excellent option for families seeking a European base. Greece, on the other hand, kept a very strict profile against travelers. It offers non-EU/EEA applicants and their families a special residence permit in exchange for a 5-year investment in Portugal. Portugal is close proximity geographically, this way you dont have to fly far. The Ultimate Guide to the Portuguese Golden Visa, How to Find Portugal's Best Real Estate Deals, The World’s Best Bank Accounts for International Travelers and Nomads, The Best Business Bank Accounts To Open From Anywhere, My Top Resources for Nomads, Travelers, & Expats, The World's Best Travel Insurance for Long-Term Travelers, Real Estate €350,000; Rehabilitation of a 30+-year-old property, Real Estate in Low-Density Areas; €280,000/€400,000, Investment in National Heritage, Arts, and Culture: €250,000, Right to live in Greece (not the right to work), Visa-free travel within the European Schengen Area, Low stay requirement in Portugal: 7 days/year on average, Spouse, Dependant Children, Dependant Parents, Spouse, Dependant Children, Parents, Parents in Law, Spanish Language Test, Spanish Citizenship Test, Greek Language Test, Greek Citizenship Test, Seven days/year for five years of residence, Ten years of residence, where the majority of each year is spent in Spain, 183 days/year for seven years of residence, Yes: Non-Habitual Residence Program; exemption for ten years, Yes: Proposed in 2020; 7% flat rate for ten years, 533.90 euros (+ 83.30 euros/family member), 2,000 euros, (+ 500 euros/family member older than 21, + 150 euros/family member under 21), 2,000 euros (+ 500 euros/family member older than 21, + 150 euros/family member under 21), It can lead to citizenship after five years of only spending an average of seven days a year in Portugal, A wide variety of investment options to choose from, It does not lead to citizenship without actually living in the country more than 183 days of the year for the second half of a period of ten years, Lowest investment requirement among Golden Visa programs; a minimum of 250,000 euros investment in real estate, Fastest processing time at three (3) months, It does not provide the right to work in Greece, It does not lead to citizenship without actually living in the country more than 183 days of the year for seven years. Rental income derived from property in Greece is at between 11% and 33%, and certain expenses can be deducted from gross income. Gate community! Enquiry Factsheet Hi Qwais, thank you for reaching out to our company. 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. Spain Portugal’s Golden Visa may not be Europe’s only residency by investment program, but it is arguably the most popular—and most successful. Real estate investments in terms of location In Greece and Portugal, real estate investments made within the scope of Golden Visa … The Greek entry level tax rate on income is 22%. Serving HNW clients since 2011. Our expert who has worked with more than 280 cases in Europe will consult you. “Thank you for your excellent service. Portugal 4.4 billion). All other golden visa countries including Portugal, Spain issue temporary residence permit valid for one, two or three years. At such a pace, Greece has every chance of overtaking Portugal next year. The residence permit allows visa-free access to Europe’s Schengen Area and requires an average stay of just seven days a year in Portugal over the five-year period. The applicant may file for Greek citizenship after seven years of permanent residency. As for time spent in the country, Portugal has a minimum, whereas Spain and Greece have no stay requirements for residency to be continued. The Greek Golden Visa Program does not give you a right to work in Greece. Currently Malta and Greece are the is the only countries that offer permanent residence permit golden visa scheme valid for five years. The Portugal Golden Visa program has proven to be the most popular scheme in Europe with investors attracted to its flexibility and benefits. The Golden Visa programs of each three countries also share a number of similar benefits, such as visa-free travel within Schengen states, the ability to live in the corresponding country, family reunification, and other usual suspects. Greece appears to have the most generous definition of dependants. Charles Taylor Harris. The Portugal Golden Visa is a temporary residency permit initially valid for a period of 12 months, after which it can be successively renewed for a period of 2 years thereafter, provided that the applicant continues to be able to prove compliance with the program’s requirements. These two schemes have helped raise billions of euros in foreign investments, most of these invested in real estate sector. The first important difference you should know is Portugal will give you citizenship after 5 years without living. The Greek entry level tax rate on income is 22%. The residence permits may be renewed every five years. Spain’s program saw a tremendous boost in 2017, growing by 140% in that year alone. Under the Golden Visa program, non-EU citizens simply need to carry out one of the investments set out in the law to qualify to obtain a residency permit in Portugal. Portugal, Spain and Greece: Comparison of Golden Visa Statistics Greece, Spain and Portugal are Europe's most demanding Golden Visa programs. Each program provides the right to live in the corresponding country and travel within the Schengen countries without the need for an additional visa. It has been particularly popular among applicants from China, Brazil, South Africa, Turkey, and Russia. – Adewale, Nigeria, What should you know about Inheritance Tax. The Golden Visa fees can vary, depending on the situation and on the person. The Golden Visa for Greece is one of the most popular investment visa programs in the EU. Golden Visa in Portugal. Greece plans to relaunch its much-criticized Golden Visa Program, becoming one of the first European countries to reopen its immigration process, after being among the first European countries to close it due to the situation created by the Coronavirus pandemic. Spain By Tricia Pimental. Greece Golden Visa Benefits, Real Estate and Law. Greece is far away if you are from North America, Canada or Brazil. So far, it’s been successful, bringing in $4 billion in revenue as of the start of 2018. “Golden Visa” is a residence permit scheme. 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. Golden Visa Portugal through property investment. This means that with a resident permit from Portugal, an investor is equally free to travel freely across these 26 countries. Today we received our passports, a happy day. So far, it’s been successful, bringing in $4 billion in revenue as of the start of 2018. 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; Apart from these common denominators, the residency by investment program of each country has its own defining pros and cons. It is also the most popular investment method in all three countries. Get free access to our community & exclusive content. Launched in 2012 the investor visa program has been actively promoted internationally by … The area is not so well known as some but it … The Golden Visa program emerged from Portugal’s real estate residency program. Schengen Golden Visa zone countries. Regardless of your need or stage, please feel free to ask us any questions you may have regarding the Golden visa programs. Today, for a 500,000 euro investment in real estate, you can get a residency permit. The Portuguese golden visa offers a fast-track to obtaining a residency permit in Portugal, alongside other benefits. Greece has already collected billions from Golden Visa programs in Europe. As of 2020, a similar tax incentive program is in the works in Greece. 1-4 months: invest in your property and apply for the Portugal Golden Visa scheme. 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. First, let’s take a brief look at the three programs. She’ll describe all the peculiarities of the Portugal residency program, its advantages and disadvantages, and tell you about similar cases from her practice. 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). We measured on average 30% more requests in 2020 than in 2019 for the Greek golden visa. Spain initially issues a Golden Visa permit that is valid for one year. The Greek Golden Visa program launched in July 2013. Portugal and Greece are the most popular golden visa schemes in Europe. After 7 years, citizenship may be granted. To apply for the golden visa program in Greece, the applicant must invest at least EUR 250,000 in real estate or a new business in Greece. The common denominator in all of them is the option to invest in real estate. Greece vs Portugal Golden Visa. Greece is closer to you if you come from middle east or asia. By the end of 2019, Greece had already received 3.6 billion euros (e.g. The lowest investment threshold belongs to the Golden Visa program in Greece, with 250,000 euros in real estate. Aug 13, 2020 How much is Antigua Citizenship by investment? Our platform is free to use and we do not charge any fee to clients. Below, we will take a look at each program and go through a thorough comparison. However, I would suggest having a more detailed conversation related to your inquiry before finalizing your decision. Residents and citizens of Portugal, Spain, and Greece, who spend less than 183 days per year in the country, are exempt from taxation on almost all foreign source income. It is the cheapest visa program available today. It is an investment scheme that ensures visa-free travel in the Schengen zone to non-European investors and their families. It is a residence-by-investment visa, issued to non-EU citizens who make a significant contribution to the Greek economy. Spain’s program saw a tremendous boost in 2017, growing by 140% in that year alone. SoundCloud. All three countries offer a Golden Visa scheme, where a foreign national receives a residence permit in exchange for a qualifying investment. There are no minimum residency requirements to maintain this visa. 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. Portugal Golden Visa Program could be an alternative solution in your situation. We asked for the cheapest family passport, they went as far as providing us a discount” – Muhamed,  UAE. The requirements to apply for citizenship vary greatly between Portugal, Spain, and Greece. The Portuguese golden visa offers a fast-track to obtaining a residency permit in Portugal, alongside other benefits. Rental income derived from property in Greece is at between 11% and 33%, and certain expenses can be deducted from gross income. In 2012, it launched the golden visa program to prop up its real estate market. Cyprus vs Portugal golden visa, what’s better depends on what you’re after. Golden Visa Greece offering residency without citizenship Launched in July 2013 the Greek golden visa programme grants a five year residency visa in return for an investment in real estate. Every card after that is valid for two years at a time. Stay Requirement for Residency The second important difference you must be aware is Portugal does not offer instant permanent residency. Dependents per main applicant 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. 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. The issuing time varies depending on how busy the corresponding immigration office is. The Portuguese Golden visas offer residency to foreigners, who invest in properties, set up tech companies and create new jobs. The Greek Golden Visa program was launched by the Government to grant resident status to all real estate investors, and respective families wishing to invest in Portugal by the capital real estate investments to any citizen of Qatar, the USA, Russia, Ukraine, and other non-EU countries except Greek and EU/EFTA citizens. Why Did Greece’s Golden Visa Performance Fall So Far Behind Portugal’s in 2020? Greece plans to relaunch its much-criticized Golden Visa Program, becoming one of the first European countries to reopen its immigration process, after being among the first European countries to close it due to the situation created by the Coronavirus pandemic. You will only get temporary residence permit valid for one or two years with possible extensions. There are seven investment options to obtain the Golden Visa in Portugal: 1. Join the most active community for DNs, PTs, online business Portugal’s Golden Visa Residency Program. Portugal Golden Visa on Track to Raise €800m in 2018 Yes, Portugal Golden Visa DOES Lead to Citizenship, First Cases Confirm Portugal, Spain, Greece: A Statistical Comparison of Golden Visa Rivals Christian Henrik Nesheim Administrator Keymaster Greek Golden Visa recipients are taxed on their income generated in Greece, but not on income earned outside the country. The Greece Golden Visa was born. All three programs require the applicants to be a non-EU, EEA, or Swiss nationals. Portugal: Though not cheap, the Portugal golden visa is a pioneer of sorts. The editor of the article is Christian Nesheim. Statistically, let's compare the investment demands of these three countries in the context of Golden Visa. Specifically, this includes kids up to age 24 and the parents of the investor. The Greek Golden Visa program garnered approval and foreign interest very quickly for two reasons: 1. At such a pace, Greece has every chance of overtaking Portugal next year. Other benefits vary between countries. Accordingly, they all enjoy similar perks like mild climate, delicious cuisine, low crime rates, and hospitable people, among many others. Greece’s authorities consider that the country has timely and successfully managed the pandemic … 1 - The Golden Visa. Privacy policy. 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