Comparative analysis of conditions for obtaining a residence permit through the purchase of real estate in Greece and Portugal

Immigration programs that provide a residence permit (RP) through the purchase of real estate are a popular way to move to Europe.

Among the most popular destinations for investors are Greece and Portugal. Let's consider the main conditions, advantages and disadvantages of the programs in these countries.

Greece: The minimum investment in real estate is €250,000, but from 1 August 2023 this threshold will be increased to €500,000 in some areas of Athens, Thessaloniki, Mykonos and Santorini. Read more here.

Portugal: Until 2023, the minimum investment amount was €280,000 (for real estate in sparsely populated areas) and €500,000 in large cities. However, the Golden Visa program has changed, and since October 2023, the purchase of residential property is no longer a basis for a residence permit. Investments in commercial real estate, funds and business projects are now available. Read more here.

• Greece: The process takes 2-6 months. After submitting the documents, the investor and his family receive a five-year residence permit, which can be extended.
• Portugal: Previously, the process took 6-12 months, but after changes to the program, the time frame may vary depending on the type of investment.

Mandatory Residence

• Greece: There is no minimum residence requirement in the country.
• Portugal: The investor must spend at least 7 days a year in the country.

Greece: After 7 years of residence, you can apply for citizenship, but you must prove integration into society (language proficiency, knowledge of history and culture).

Portugal: After 5 years, you can apply for citizenship without the requirement for permanent residence, making the program one of the most attractive in Europe.

• Greece: Property purchase tax – 3.09% (for old properties) and 24% VAT (for new properties).

• Portugal: IMT tax (from 6% to 8%) and stamp duty 0.8%.

Greece offers a more affordable investment threshold, flexibility in terms of residence and fast processing of residence permits. However, Portugal offers the possibility of obtaining citizenship after 5 years and favorable tax conditions, which makes it attractive for long-term planning.

The choice of country depends on the investor's goals: Greece is suitable for those who want minimal obligations, and Portugal is suitable for those who are focused on citizenship and tax benefits. Contact Mercury Group experts for detailed advice!