Golden Visa Program Review

Who Can Apply for a Golden Visa?

Technically, anyone with a clean criminal record, who is not an EU, EEA or Swiss citizen, can apply for Golden Visa programs in Spain, Portugal and Greece as long as they make a qualifying investment.

The following communities often find the aforementioned residency by investment programs attractive;

1- Citizens from Developing Nations and Developing Countries

Many people in developing countries have access to many opportunities, but still desire access to the same opportunities, health care, education, security and stability as in developed countries.

Golden Visa programs provide the most benefits for this group. The programs give them and their families access to the above facilities as well as hassle-free travel. The programs can even lead to European citizenship as long as the requirements are met.

2- Investors and Business Owners

These programs are attractive for investors and business owners who wish to spend a significant amount of time in Europe. The program in all three countries allows the applicant to have unlimited access in the EU Schengen countries. So, if your goal is to live, work and travel in Europe, these permits may come in handy.

3- Turkish Citizens

Recently, there has been a growing demand among Turkish investors for programs in Spain, Portugal and Greece. A secondary residence in Europe for their families is attractive to many investors.

POPULAR GOLDEN VISA PROGRAMS

 Spain Golden Visa

 Greece Golden Visa

 Portugal Golden Visa

Benefits What Does a Golden Visa Do?

All Golden Visa programs provide applicants with broadly similar rights and benefits.

These common rights include the right to live in the host country, the ability to travel within Schengen countries without additional visas, and the right to include dependent family members in their application.

The scope of these rights and benefits varies slightly between programs. You can find them in detail in the chart below.

Residence Requirement: How Much Time Should I Spend in the Country for Golden Visa?

After receiving the Golden Visa;

Spain does not require the applicant to stay in the country for a long time; it is enough to enter the country once a year. Therefore, this is interpreted as a one day per year stay requirement.

Portugal requires applicants to stay in the country for an average of seven days per year to maintain their Golden Visa status. If the Golden Visa is valid for a period of two years, Portugal requires you to spend a total of 7 days in the country over the two-year period.

Greece does not have a stay requirement for applicants.

Investment Which types of investments qualify for a Golden Visa?

An investment is required to apply for a Golden Visa. Spain, Portugal and Greece each have a list of investments that are eligible for residency through their investment programs.

Below you can find a comprehensive list of investments that qualify for the three Golden Visa programs.

Spain Golden Visa Eligible Investments

 A real estate investment in Spain with a minimum value of 500.000 Euros

 1 million Euro Capital Transfer

 Minimum investment of €1 million in a Spanish Business

 Minimum investment of €2 million in Spanish Government Bonds

Portugal Golden Visa Eligible Investments

 Minimum investment of EUR 500,000 in a Qualified Fund in Portugal

 Establishment of a company employing ten (10) Portuguese nationals in full-time work

 Invest in National Heritage, Arts and Culture in Portugal from a minimum of €200,000

 Minimum €500,000 investment in R&D in Portugal

Golden Visa Eligible Investments in Greece

 A real estate investment in Greece with a minimum value of 250.000 Euro

 400,000 Euro Capital Contribution to a Greek Government Bond

Citizenship Does Golden Visa Lead to Citizenship?

Yes, the Golden Visa indirectly leads to citizenship. Golden Visa is a pathway to residency in a country. Residency is a pathway to citizenship provided that the country's specific naturalization requirements are met by the resident.

Below you will find the citizenship requirements of Spain, Portugal and Greece when you are a Golden Visa holder.

How Many Countries Can You Visit with a Spanish Passport?

As of 2024, Spanish passport holders will be able to visit 194 countries without a visa.

How Many Countries Can You Visit with a Portuguese Passport?

Portuguese citizens will be able to travel visa-free to 191 countries as of 2024.

How Many Countries Can You Visit with a Greek Passport?

Greek citizens will be able to visit 191 countries as of 2024.

How long does it take to get a Golden Visa and how long is it valid?

Spain Golden Visa - 6 months

Portugal Golden Visa - 7 months

Greece Golden Visa - 3 months

Below is a list of the current validity periods of the three different residency programs by investment program.

Spain

 The first permit is valid for one year; within that year, the applicant must visit Spain to obtain a two-year permit.

 The second permit is valid for two years.

 The third and remaining permits are valid for five years each.

 First permit valid for one year (changed to two years in 2020)

Portugal

 The rest of the permits are valid for two years each.

Greece

 Valid for five years at a time.

How Much Does It Cost to Apply for a Golden Visa?

In addition to making a qualifying investment, applying for a Golden Visa requires payment of fees to the relevant government. These fees are usually paid per applicant and per dependent.

In the chart below, you will see how these fees differ between Spain, Portugal and Greece.

Spain

 87,57 Euro per person for the first application and each renewal

 initial processing fee of €533.90 per main applicant and €83.30 per family member

Portugal

 2.668,20 Euro per person per renewal

 5,336.40 Euro per person for the first application

Greece

 EUR 2,000 per main applicant for the first application and each renewal, EUR 500 per family member over 21 and EUR 150 per family member under 21

All three Golden Visa programs of Spain, Portugal and Greece provide a basic set of benefits that are consistent for everyone. These include:

 The possibility to live in the host country,

 Ability to travel within the European Schengen countries without additional visa,

 Ability to add family members to the program,

 Sustainable investment options and citizenship application opportunity,

 The opportunity to build relationships with friendly people in a beautiful, sunny country with low crime rates and close to the Mediterranean Sea.

Besides these, there are small details that differ between the three programs. We have categorized all three according to these small but essential differences;

Highest GDP Option: Spain Golden Visa

Launched in 2013, Spain's Golden Visa program provides access to a large economy with thriving business opportunities. It is estimated that close to 600 million people in the world speak Spanish. In fact, investors interested in relocating to Europe see Spain as a vibrant, cool yet relaxing country. The downside is that the Golden Visa program does not lead to citizenship unless you significantly choose to live there. The Spain Golden Visa's waiting period for citizenship is at least 10 years.

The Easiest Path to EU Citizenship: Portugal Golden Visa

Launched in 2012, the Portuguese Golden Visa program only requires Golden Visa applicants to spend an average of seven days a year in Portugal. After five years, it is quite simple to apply for Portuguese citizenship, which will provide you with all the benefits of being a European Union citizen. In 2024, Portugal's benefits have increased. Some of the advantages are that Portugal's minimum investment amount is lower than some other golden visa programs and the time to citizenship is calculated as 5 years.

EU Residence Permit with Real Estate: Greece Golden Visa

Launched in 2013, the Greece Golden Visa program only requires the Golden Visa applicant to pay a minimum of 250,000 Euros in any real estate in Greece. This is enough for the main applicant to qualify for a Greek residence permit and to include dependent family members in the program. Moreover, there is no obligation to spend time in Greece.

There are many factors to consider when choosing the right residency or citizenship through the investment program. Each Golden Visa program has undergone many changes since its inception. The most important part is to set your priorities and find the right program that fits your search criteria. This is exactly what we are trying to do. Please feel free to contact us and we will be happy to tell you more about the programs and answer any questions you may have about the details.