Comparison of the golden visa of Greece and Spain: advantages, conditions and differences

The Golden Visa program allows investors and their families to obtain a residence permit in exchange for investments. In recent years, this program has become increasingly popular among foreign citizens wishing to become residents of Europe. There are two countries in Europe — Greece and Spain offer such programs, but the conditions and requirements for investors in each of them have their own characteristics. In this article, we will compare the golden visa of Greece and the golden visa of Spain, highlighting the main differences and advantages of each of them.

1. Minimum investment

Greece:

To obtain a golden visa in Greece, investors must invest at least €250,000 in real estate. This is one of the lowest amounts among EU countries offering similar programs, which makes Greece attractive to investors.

Spain:

In Spain, the minimum amount for real estate investments to obtain a residence permit through the Golden Visa program is €500,000. Thus, Greece offers a more affordable option for those who want to invest in real estate in the EU.

2. Types of investments

Greece:

The Greek Golden Visa program allows investors to choose from several types of investments.:

• Real estate from €250,000.
• Rent hotels or tourist residences.
• Investments in securities, deposits or businesses.

Spain:

The Spanish program also allows you to invest in real estate (from €500,000), but investments in:

• Securities and stocks companies.
• Debt obligations.

3. Visa application time

Greece:

The process of obtaining a golden visa in Greece usually takes from 3 to 6 months, which makes the program fast enough for those who want to quickly start the process of moving to the country.

Spain:

In Spain, the process of obtaining a golden visa can take from 6 to 9 months. This is due to stricter document requirements and a longer application review process.

4. Visa validity and extension

Greece:

The Golden visa of Greece is issued for 5 years with the possibility of extension. After 5 years of residence in the country, you can apply for a permanent residence permit or even for citizenship.

Spain:

Spain also issues a golden visa for 2 years, after which it can be extended for 5 years. As in Greece, investors can apply for permanent residence after 5 years of residence in the country.

5. Advantages of visa-free entry

Greece:

Holders of the Greek golden visa can freely travel to all countries of the Schengen area. This is a significant advantage for those who plan to travel to Europe, as Greece is part of the Schengen Agreement.

Spain:

Just like in Greece, holders of the golden visa of Spain can travel through the Schengen area without having to obtain an additional visa. This opens up many opportunities for traveling in Europe.

6. Stay requirements

Greece:

Greece does not require investors to permanently reside in the country after obtaining a golden visa. However, in order to obtain a permanent residence permit or citizenship, it is necessary to reside in Greece for at least 6 months a year.

Spain:

There are also no strict requirements for mandatory stay in Spain. However, in order to obtain permanent residence or citizenship, investors must have lived in the country for at least 6 months a year for 10 years, which may be a factor requiring more time for those who want to obtain Spanish citizenship.

7. Family investors

Greece:

The golden visa program in Greece allows you to include family members in the application, including spouses, children under 21 years old, as well as parents (if they are financially dependent).

Spain:

In Spain, it is also possible to add family members to the application for a golden visa, including spouses, children under 18 years old and parents (provided that they are dependent on the investor).

8. Taxes

Greece:

After obtaining a golden visa in Greece, investors can become tax residents of the country if they reside in Greece for more than 183 days a year. Greece also offers attractive tax regimes for high-income foreign investors.

Spain:

In Spain, the tax system also assumes that an investor can become a tax resident if he lives in the country for more than 183 days a year. However, tax rates may be higher than in Greece, especially for high-income individuals.

9. Housing market

Greece:

Real estate in Greece is a liquid asset with good prospects for price growth, especially in cities such as Athens and Thessaloniki. In recent years, interest in real estate in Greece has increased significantly.

Spain:

Spain, like Greece, has a developed real estate market, but the minimum amount for a golden visa in Spain is twice as high, which makes it less affordable for certain investors. Nevertheless, Spain remains attractive to those looking for high-quality properties, especially in regions such as Barcelona, Madrid and the coast.

Conclusion: What should I choose?

The Greek Golden Visa is a more affordable option for investors with a limited budget, as the minimum investment amount is €250,000. While Spain requires higher investments — €500,000.

If you plan to invest in real estate in the EU, but do not want to spend a large amount, Greece would be the best option. However, if your goal is to get a more stable market and a variety of investment options, such as business and stocks of companies, Spain can offer more opportunities.

In both cases, a golden visa opens up access to Europe and provides many advantages, including the opportunity to travel through the Schengen area and live in beautiful countries with a high quality of life.

Relevance in 2025 and special features for Russian citizens

Starting in 2025, both governments, Greece and Spain, plan to make changes to their Golden Visa programs in order to attract more sustainable and long-term investments. In Greece, for example, the minimum amount for real estate investments will be increased to €800,000 in key regions, while Spain continues to adapt its conditions to stricter standards. These changes make the programs more attractive to investors interested in economic stability and support for small businesses.

It is important for Russian citizens to note that at the moment Greece has temporarily suspended the acceptance of applications for a golden visa from Russians, the current restrictions are related to the international political situation. However, Russian citizens can still participate in the program through a second citizenship, for example, obtained in countries such as Vanuatu, Turkey, Georgia or Armenia.

In Spain, the golden visa program continues to be valid for Russians, but also with some restrictions. It is important to note that in both countries, a prerequisite for submitting an application is to have a clean criminal history, proof of financial viability, and the ability to meet other administrative requirements.

Thus, for 2025, golden visas for Greece and Spain remain an excellent opportunity for investors, but for Russian citizens it is worth considering the specifics of the political situation and possible changes in programs.