Picturesque places and ancient architectural treasures, high standard of living, excellent service and health care system. These are the main reasons why the Navigators’ Land and Hellas are in the rating of the best. Therefore, people strive to get there not only for sightseeing and a wonderful vacation, but also to settle down with their family, to provide themselves with a plan B just in case and additional citizenship. Let’s make a comparison and get an answer to the question – to which point of the planet it is better to go for permanent residence.
Portugal Golden Visa Program: The Classic Case
Golden “admission” to the power of your dreams gives you a lucky ticket to a new life. This is one of the easiest ways to obtain permanent residence in the Old World. Such a document will allow you to live and work in the Land of Seafarers, travel freely throughout the Schengen area, and bring your family here on a legal basis. In addition, after 5 years you will be able to obtain a residence permit and Portuguese citizenship, which will allow you to enter Japan, New Zealand, Mexico, the USA and other countries without a visa. After all, the Portuguese passport ranks 6th in the world (2020) in terms of the level of freedom it gives.
Having purchased housing and obtain Portugal Golden Visa by investing in the spheres of the country’s economy, it is even easier to get into one of the cities, because the investment system allows you to realize your most exorbitant dreams and have a plan B if your rights in your homeland are ignored.
Investment Options
To receive a document, you can choose one of the following options:
- Transfer capital to the country in the amount of 1.5 million euros.
- Create 10 or more jobs (or 8 in sparsely populated areas).
- Purchase real estate for an amount starting from 500,000 euros (you can buy several properties valued at half a million euros).
- Buy properties whose construction was completed 30 or more years ago. The minimum amount of cost and rehabilitation expenses must be at least 350,000 euros.
Let us immediately note the differences from the Greek rapids. The Portugal Golden visa program is more expensive, but gives the foreigner the right to choose real estate.
Key Benefits Portuguese Golden passport
From the first minutes, it is easy to appreciate the benefits:
- the resort setting and pleasant sunny climate;
- advanced education and health care system;
- excellent transportation links for all tastes;
- rich cultural heritage;
- lower cost of living compared to neighboring countries;
- visa-free Schengen travel;
- a lenient tax system;
Most of the population are very friendly people and speak English, making communication easy.
Greece Golden Visa Program: Works Well
To make the most of everything Greece has to offer, you need to request a paid entry pass, which is one of the cheapest. Three months after approval of the application for participation in the Greece Golden Visa program, the candidate can become a full-fledged Greek according to the law. This does not require knowledge of the language or presence in the territory. The program is the provision of temporary residence for a period of 5 years for money. There are many options for how to do this:
- marriage with a local resident;
- fact of birth;
- refugee;
- automatic citizenship after 7 years of residence and purchase of real estate worth 250,000 euros or more on the mainland or island;
- lease of premises or structures for 10 years.
Here you can immediately see the differences with the first republic described, which wins in terms of investment options. Here the veil is cheaper. You can also receive a passport for special merits in science and culture.
Investment Options
Investment options: real estate, its rental, alternative funds, purchase of shares, corporate bonds. If you plan to settle for a long time and get a Greek Golden passport, you will have to live here for 183 days for a total of 7 years. This is a long way, but considerably shorter if you take into account the long processing time under other circumstances.
Requirements:
- Financial investment in real estate or business of at least 250 thousand euros.
- Provide proof of the origin of the funds for the investment.
- Possess health insurance.
- Not to stay illegally in the Republic or Schengen.
- Do not violate the rules of the program after receiving the visa.
Eligible to enter the Mediterranean power will cost about 250-370 thousand dollars (contribution to real estate). And payment of all administrative fees – 2000. For each family member – 150. As for the tax – it is half as much as in Portugal.
Key Benefits
Greece is an EU territory that residents from all corners of the world have an interest in. Sun, sea, interesting history and colorful culture combined with a high standard of living is simply a dream. However, the visa provides other pros:
- freedom of movement throughout the Schengen zone;
- opportunity to live and work;
- no need to stay in the territory;
- access to high quality educational institutions and medical services;
- the possibility of obtaining citizenship after a set period of residence within the country.
A Golden Pass can be obtained for all members of the family; this is an additional incentive and advantage.
Final Comparison
These are just some of the main common features and differences between permitting documents. According to Immigrant Invest specialist Zlata Erlach, the Greek Republic benefits in terms of savings, a soft tax system and, of course, freedom to choose real estate in any area you want. Portugal offers a wider range of financial investments, but requires larger investments. In addition, to obtain a visa, you must pay a fee of 5,000 for each dependent and renewal every 5 years. Before making a final decision about travel, it is recommended to obtain detailed information from official sources or contact immigration specialists.