Most comparisons of these two are out of date.
Portugal removed property as a qualifying route in 2023, and its five-year path to citizenship ended in May 2026. Any comparison still showing €500,000 of Portuguese property, or citizenship in five years, is describing a programme that no longer exists.
| Dimension | Greece | Portugal | Favours |
|---|---|---|---|
| Can you qualify by buying property? | Yes. €800,000 in high-demand zones, €400,000 elsewhere, or €250,000 for a conversion or listed-building restoration. | No. Real-estate acquisition was removed as a qualifying route by Lei 56/2023 and is not available to new applicants. | Greece |
| Lowest qualifying amount | €250,000, for a change-of-use conversion or listed-building restoration, or an Elevate Greece startup contribution. | €250,000, for cultural or heritage support, reducible to €200,000 in low-density territories. | Even |
| Fund route | €350,000 into a Greek UCITS or Alternative Investment Fund. | €500,000 into a qualifying non-real-estate fund. The 20% low-density reduction does not apply to this route. | Greece |
| Government fees | €2,000 for the main applicant, €150 per adult family member, children under 18 exempt, €16 per card. | Roughly €632 to €843 to receive the application, then €6,314 to €8,419 on issuance, and €3,158 to €4,210 at each renewal. | Greece |
| How long it takes | Statutory deadline of two months from a complete file. Realistically six to nine months, and twelve to sixteen or more in Attica. | Statutory deadline of 90 days. Realistically twelve to twenty-four months and frequently longer, against a backlog of roughly 400,000 cases. | Greece |
| Route to citizenship | Seven years of lawful residence, but it requires genuine physical presence and Greek tax residence. Passive permit years do not count. | Ten years for most non-EU nationals since 19 May 2026, or seven for nationals of EU and Portuguese-speaking countries. | Greece |
| Do you have to live there? | No minimum stay to hold or renew the permit. | Seven days in the first year and fourteen days in each subsequent two-year period. | Greece |
| Can you rent the asset out? | No. The qualifying property cannot be let short-term or subleased. Breach means revocation and a €50,000 fine. | Not applicable, since property is no longer a qualifying route. | Portugal |
Portugal no longer has a property route at all
Real-estate acquisition was removed as a qualifying Portuguese Golden Visa route by Lei 56/2023. No property purchase qualifies for a new application at any price, which is the single most consequential difference between the two programmes.
Portugal’s remaining routes are job creation, €500,000 research support, €250,000 cultural or heritage support, €500,000 into a qualifying non-real-estate fund, and €500,000 company capitalisation. If the appeal of a golden visa was owning something in the country, Greece is now the only one of the two that offers it.
Portugal's five-year citizenship route closed in May 2026
Since 19 May 2026, Portuguese naturalisation requires ten years of legal residence for most non-EU nationals, or seven for nationals of EU and Portuguese-speaking countries. Applications already pending on 18 May 2026 continue under the previous rule.
The five-year path was the basis of Portugal’s entire pitch, and comparisons written before mid-2026 are built on it. Greece requires seven years, but with a real condition attached: genuine physical presence and Greek tax residence, so years spent holding a permit without living there do not count.
Where Greece is the worse choice
On one dimension Portugal is straightforwardly better, and it is the one most likely to matter to an investor thinking about yield.
- Can you rent the asset out?
- No. The qualifying property cannot be let short-term or subleased. Breach means revocation and a €50,000 fine.
- The only dimension in this table where Greece's rule is the harder one, and it matters: a Greek Golden Visa property cannot produce rental income.
We advise on Greece, so treat that as a disclosure rather than a disclaimer: if rental income is central to your reasoning, the Greek property routes are the wrong instrument and one of the financial routes, or another country, will serve you better.
What most comparisons get wrong
Four claims appear throughout published comparisons of these two programmes and are no longer true.
- Incorrect: “Portugal's Golden Visa starts at €500,000 for property.”
- Portugal removed real-estate acquisition as a qualifying route in 2023. No property purchase qualifies for a new Portuguese Golden Visa at any price.
- Incorrect: “Portugal gives you citizenship after five years.”
- Not since 19 May 2026. Naturalisation now requires ten years of legal residence for most non-EU nationals, or seven for nationals of EU and Portuguese-speaking countries. Cases pending on 18 May 2026 keep the old rule.
- Incorrect: “The two programmes cost about the same in fees.”
- Greek government fees are €2,000 for the main applicant. Portuguese issuance fees alone run between €6,314 and €8,419, with renewals of €3,158 to €4,210.
- Incorrect: “Portugal is faster because its statutory deadline is 90 days.”
- Neither country meets its statutory deadline. Greek files realistically take six to nine months; Portuguese files run twelve to twenty-four months and often longer against a backlog of roughly 400,000 cases.
Common questions
What people ask when deciding between the two.
- Can you still buy property for a Portuguese Golden Visa?
- No. Real-estate acquisition was removed as a qualifying route by Lei 56/2023 and is not available to new applicants at any price. Greece still offers property routes at €800,000, €400,000 and €250,000.
- Does Portugal still give citizenship after five years?
- No. Since 19 May 2026 naturalisation requires ten years of legal residence for most non-EU nationals, or seven for nationals of EU and Portuguese-speaking countries. Applications pending on 18 May 2026 are still decided under the previous five-year rule.
- Which is cheaper in fees?
- Greece, by a wide margin. Greek government fees are €2,000 for the main applicant plus €150 per adult family member. Portuguese issuance fees alone are between €6,314 and €8,419, with renewals of €3,158 to €4,210.
- Which is faster?
- Greece. Greek files realistically take six to nine months, longer in Attica. Portuguese files run twelve to twenty-four months and frequently longer against a backlog of roughly 400,000 cases.
Sources
- Portuguese routes: Lei 23/2007 arts. 3 and 90-A, as amended by Lei 56/2023.
- Portuguese naturalisation: Lei Orgânica 1/2026, in force 19 May 2026.
- Portuguese fees: consolidated Portaria 307/2023, AIMA fee table.
- Greek thresholds and fees: Law 5100/2024 art. 64; Law 5038/2023 arts. 100, 171 and 176.
Last checked 2026-08-08. Aegalis advises on Greece and does not advise on Portuguese immigration; the Portuguese figures here are published so the comparison is usable, not as advice on Portugal.
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