Is Greece the New Portugal for Easy European Residency?
For years, Portugal’s Golden Visa program was the gold standard for expats seeking European residency. But with recent policy shifts making it harder to qualify—especially through real estate investment—Greece is stepping up as a compelling alternative.
Why Greece?
Greece’s Golden Visa program remains one of the most accessible in Europe, offering residency through real estate investment. While Portugal has pivoted toward business and tech investments, Greece still allows property purchases as a qualifying route. And the numbers prove its popularity:
9,289 new applications were submitted in 2024, marking a 10% increase from 2023.
The program has maintained a low rejection rate of just 2%, making it one of the most successful residency-by-investment schemes.
Since its launch in 2014, Greece has granted over 14,567 permits, with nearly 13,000 applications still pending due to high demand.
Investment Requirements
Greece’s residency program is tiered, with different investment thresholds based on location:
€800,000 for properties in Athens, Thessaloniki, Mykonos, Santorini, and other high-demand areas.
€400,000 for properties in less crowded regions.
€250,000 for projects converting commercial spaces into residential use or restoring historic buildings.
Residency & Citizenship
The visa grants five-year residency, renewable as long as the investment is retained. While there’s no minimum stay requirement, those who meet physical presence criteria and learn Greek can apply for citizenship after seven years.
Challenges to Consider
While Greece’s Golden Visa program is attractive, it’s not without hurdles:
Processing Delays: Despite improvements, nearly 13,000 applications are still pending, causing bottlenecks.
Higher Investment Thresholds: The minimum investment has jumped to €800,000 in prime locations, making it less accessible for some investors.
Recent Slowdown: April 2025 saw a 28.6% drop in applications compared to the previous year, signalling a shift in momentum.
Legal & Bureaucratic Complexity: While the process is online, navigating Greek bureaucracy can be challenging, especially for non-EU investors.
A Simpler Process
Despite these challenges, Greece’s program remains more affordable than Portugal’s, with lower fees and an all-online application. Applicants can even assign power of attorney to handle transactions remotely, making it easier for international investors.
With Portugal’s residency path becoming more restrictive, Greece is emerging as the new hotspot for expats looking to secure a foothold in Europe.
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