Portugal Golden Visa Specialists

Golden Visa Comparison

Ireland Golden Visa: Is it the best route for EU citizenship?

The Ireland golden visa is becoming one of the most looked at golden visa programs in Europe for investors seeking the path of investment of long-term residency and citizenship.

 

For a minimum of €1 million invested in Ireland, you and your family can access the benefits of the Schengen area to secure second citizenship.

 

If you’ve been wondering which golden visa program is the right for you, this article will help you sort that out. We’ll compare the Ireland golden visa vs. Portugal golden visa, the benefits, advantages, and disadvantages of the Ireland golden visa.

Irish golden visa overview:

As to the Portugal golden visa, the Ireland Immigrant investor program (IIP) is designed to attract non-EU investors and business professionals to get a residence permit in exchange for a qualified investment.

 

The Ireland golden visa is a residency by investment program created in 2012.

 

It gives investors and their families a five-year residence permit in Ireland, with the possibility to apply for citizenship at the end of that period.

 

If you’ve done part of the research by yourself – you’ll notice that the Portugal golden visa also offers five years to apply for Portuguese citizenship, and even the application process of the Ireland golden visa is faster than Portugal’s.

 

The differences between these two programs are the options, the minimum investment, and the benefits each country offers you.

Ireland Golden visa

Benefits of the Ireland golden visa

Ireland and Portugal’s golden visas offer similar fantastic benefits and advantages for non-EU residents. 

 

Here are some of the benefits you’ll get with the Ireland residency by investment program: 

 

  • One of Europe’s fastest-growing economies.

  • Stable, secure, and competitive.

  • Politically neutral country.

  • Low corporate tax rate at 12.5%

  • Gain the right to live, work, study, and do business.

 

Now that we’ve talked about the Irish immigrant investor program  – let’s weigh up the pros and cons of the Ireland golden visa, especially in terms of your pathway to EU citizenship.

Advantages of the Ireland golden visa

 

  • Maximum stay flexibility: No need to relocate to Ireland to maintain your residency status – just visit one day per year.

  • Visa-free travel: Go anywhere in the Schengen area without additional visas or permits.

  • Education and healthcare: Access these with the same rights as Irish citizens.

  • Investment options: Choose from investment funds, endowments, or investing in an Irish enterprise.

Disadvantages of the Irish golden visa program

  • Higher minimum investment threshold: The minimum investment for the Irish residence program is €500,000, which is available by the endowment option (No return on investment).

  • Living in Ireland required for citizenship: Ireland lets you maintain your residency rights in the country without living there, BUT if you want to eventually apply for citizenship, you’ll have to move to Ireland.

  • Option to buy a real estate property is not available, you’ll be able to invest in real estate trusts (REIT)listed on the Irish Stock exchange.

Who can apply for the Ireland Immigrant investor program ?

To be eligible for the Ireland golden visa you must meet the following requirements:

 

  • Be aged 18 or over.

  • Be a third-country national (Not an EU/ EEA/ Swiss citizen).

  • Have a clean criminal record.

  • Invest a minimum of €1 million in Ireland.

  • Have a provable personal wealth of at least €2 million.

  • Have full medical insurance covering yourself and any dependents.

  • Pass a due diligence check on the source of funds, in line with international KYC and anti-money laundering regulations.

Taxation in Ireland

The Irish tax system is based on your residence and domicile status, and corporate tax is currently charged at a 12.5% rate. If you don’t plan on living in Ireland during your Golden Visa term, you won’t need to register for Irish tax residency. 

 

However, you will be subject to taxation on all income received and earned in Ireland, including income from your investment.

Which golden visa program should I pick?

We’ve prepared this comparison table to help you sort out which golden visa works best for you. Take your time looking at the differences between Ireland and Portugal’s golden visas to make an informed decision.

Having two passports is better than one because you always have a Plan B in the event and current state of the world. Portugal and Ireland recognize dual citizenship.

Ireland vs. Portugal golden visa overview

The Portugal golden visa is the most popular European residency by investment program.  Both programs are good choices for those who want to be eligible for EU citizenship after five years, and both countries recognize dual citizenship, so you can keep your original passport.

 

Ireland has a big advantage over Portugal with the passport power rank – the Irish passport offers you full access to the UK, the whole EU, EEA, and Switzerland. It is the only country in the entire EU that can offer this huge benefit.

 

If you meet all the requirements for the Ireland golden visa and the investment options where the ones you were looking for – then, Ireland’s golden visa will work best for you.

 

The Portugal golden visa offers more affordable investment options than the Ireland golden visa. If you’re looking for a more reasonable investment option with a special tax program, then the Portuguese residence program is for you.

 

In short: If you want an affordable yet fast-tracked pathway to EU citizenship, Portugal is the Plan B for you and your family.

 

Contact us to schedule a free consultation call or send us an email to know more about the Portugal residency program by real estate investment.

Spain vs Portugal golden visa

Portugal and Spain’s residency by investment or Golden visa attracts hundreds of investors each year for the benefits and advantages of holding a European residency permit.

 

Both countries offer golden beaches, exquisite gastronomy, amazing weather year-round, and a stable lifestyle in the heart of Europe.

 

It is no wonder that so many high-net-worth individuals from the United States, UK, Middle East, and beyond are seeking legal residence by investment through these nations’ Golden visa programs.

 

If you’ve been wondering which golden visa program is right for you, this article will help you sort that out.

Spain vs Portugal golden visa overview:

Portugal and Spain provide the Golden Visa programs to non-European Union nationals to obtain permanent residency – or citizenship in the long run and gain access to the European Union.

 

What are these Golden Visa Programs?

 

Portugal = easy and affordable investment options.

Portugal’s Golden Visa program was launched in 2012 as a legal process based on the law that invites foreign investors from non-EU countries to obtain fully valid residency permits in Portugal for themselves and their families in exchange for a qualifying investment into the country. 

 

The Portuguese Golden visa requires applicants to spend a minimum of €280,000 on real estate in low-density areas of Portugal.

The minimum residency requirement is 7 days the first year and 14 days the following years to maintain your residency permit. You’ll be able to apply for citizenship after 5 years.

Spain vs Portugal Golden Visa Program

Spain = fastest way to get a temporary residency permit.

Spain’s Golden Visa program was launched in 2013 to encourage foreign investment and welcomes their families in exchange for a qualifying investment to boost the state economy.

 

The Spanish golden visa requires applicants to spend a minimum 500,000.

 

In Spain, the rules are more flexible. There is no residency rule to maintain the visa, you’re only required to visit Spain once in the first year. 

 

The Spanish Golden Visa lets you first live as a temporary resident with an opportunity to become a permanent resident after the first five-year period. You’ll be able to apply for Spanish citizenship after you live in the country for ten years.

 

Both programs allow you to obtain valid residency permits for yourself and your family, eventually leading you to the possibility of getting an EU passport.

Spain vs Portugal Golden Visa Program

What benefits will you get as a European resident?

 

Portugal and Spain’s golden visas offer similar fantastic benefits and advantages for non-EU residents:

 

  • Freedom of movement: Movement without restrictions in the Schengen Area. 

  • Health & Education: You and your family can enjoy quality education and world-class healthcare in Portugal or Spain.

  • Pathway to citizenship: Both programs offer an indirect path to citizenship if you meet all the residency requirements, but the time to get there will differ.

  • Ease of process: both programs have an easy, straightforward application and renewal process.

Which Golden Visa should I pick?

We’ve prepared this comparison table to help you sort out which golden visa works best for you.

Spain vs Portugal golden visa

Pathway to EU citizenship

Once you get a golden visa, you must meet the criteria to apply for citizenship. Here’s a quick overview of Portugal and Spain’s requirements.

 

Citizenship requirements for Portugal

  • Five years of living in Portugal, on average seven days per year

  • Having no unpaid taxes in Portugal

  • A2 Portuguese language exam

  • No criminal record in the home country

 

Citizenship requirements for Spain

  • 10 years of living in Spain uninterruptedly

  • No criminal record in the home country

  • A2 Spanish language exam

  • Take a test on knowledge of the Spanish Constitution and social-cultural customs

Family eligibility

 

Portugal’s golden visa allows a spouse and dependent children (under 18 years old or still completing studies) to be included, as well as your parents – if they’re dependent on you.

 

For Spain, the investor’s spouse, children under 18, and parents can be included as dependent on an application.

 

Portugal and Spain’s golden visa taxation

 

When you hold a golden visa in Portugal or Spain, you won’t be required to become a tax resident unless you spend more than 183 days of the calendar year in either of the two countries.

 

Here’s a quick overview of Portugal vs Spain golden visa taxation:

 

 

Country

Income tax

Corporate tax

Inheritance tax

Foreigner tax

Portugal

14.5% – 45%

21%

None

NHR tax exemption scheme

Spain

19% – 45%

25%

1% – 7% (depending on the region)

None

 

Portugal has one of the most favorable tax schemes for foreigners in the EU. The Non-Habitual residency (NHR) gives tax exemptions to golden visa holders for up to 10 years.

 

Portugal’s golden visa program holds the most benefit for those whose country of citizenship does not require them to declare their global income.

 

If you’re from the U.S., you can certainly take advantage of the golden visa, but whether it’s the best option for you depends on your personal tax obligations.

 

The holder of the NHR status does not need to pay tax on:

  • Dividends, interest and royalties

  • Capital gains

  • Rental income from a real estate outside of Portugal

  • Income from employment in another country

 

It’s important to keep in mind though, that Spain tax investors on their worldwide income if you live in Spain for over 183 days per year. Tax is charged at 24.75% on income derived in the country, like rental income.

 

A major plus for the Portuguese program is the ability to apply for a Portuguese passport five years prior to obtaining residency, contrary to the ten years needed for acquiring a Spanish passport.

 

 Golden Port Visa is here to assist you through the entire process. We are more than an immigration consultancy – we are your trusted Portuguese partner that will help you achieve your relocation goal.

 

We specialize in assistance with residency and property investment in Portugal.

 

Contact us to schedule a free call or send us an email to know more about the program.

Greece vs Portugal Golden Visa Program

Last update Greece vs Portugal golden visa: 20.09.2022

Are you trying to decide between the Greece vs Portugal golden visa programs? 

If so, you are not alone. Both countries offer attractive golden visa programs that grant the holder the right to live and work in the country, as well as access to world-class education and healthcare systems. 

In this blog post, we will compare the Greece vs Portugal golden visa programs to help you make an informed decision

We will cover the requirements, benefits, and costs of each program, as well as the pros and cons of each country. 

Whether you are looking to relocate for business or personal reasons, we hope this comparison will help you choose the best golden visa program for you.

Greece vs Portugal golden visa:

Overview of Greece VS Portugal Golden Visa

 

There are common similarities between Greece and Portugal’s programs. They both are stunning and safe countries, with sunny Mediterranean weather and low living costs, delicious food, beautiful beaches, and rich culture, no wonder why so many tourists visit these countries every year.

Best beach towns in Portugal

 

Both schemes offer various qualifying investment options for non-EU citizens, allowing applicants and their families to get an EU residency in a few months.

 

Both programs eventually lead to the possibility of getting an EU passport.

So, you might be thinking, what are the differences then?

 

Portugal Golden Visa Program = Easy and fast tracked path to EU citizenship

 

The Portuguese Golden Visa requires applicants to spend a minimum of €280,000 on real estate in low-density areas of Portugal. You must spend an average of seven days the first year and 14 days the following years. Its process is simple to apply for temporary residence and also for Portuguese citizenship after five years – which grants you all the benefits of being a European Union citizen. 

Greece Golden Visa = Cheap way to EU citizenship

 

The Greek Golden visa requires applicants to spend a minimum of €500,000 (previously €250,000) on real estate in Greece. This is sufficient to qualify for a Greek residence visa for the primary applicant and many family dependents (including dependent children under the age of 24 and both spouses’ parents). There is also no necessity to spend any time in Greece. 

 

 

What are the benefits of being a European Resident?

 

Having citizenship in one of the European nations is an attractive and advantageous offer. Consider the key benefits of obtaining European citizenship:

 

 

  • High living standards, a modern healthcare system, and a high-quality education system.

  • Freedom of movement. What does this mean to you? Being an EU citizen allows you to work, travel and study anywhere within the Schengen area. A key benefit if you’re an entrepreneur with foreign partners.

  • There are no conditions for permanent residency, except in Portugal, where one must remain for at least a week in 365 days to have one’s status in the extended country.

  • A spouse and children may be granted residency with the main applicant. In some jurisdictions, even parents may be included in the application.

Which Golden Visa Program should I pick?

Greece vs Portugal Golden Visa comparison table

Pathway to European Citizenship

 

A Golden Visa is a pathway to permanent residency in a country. Once you obtain a Golden Visa, you must meet their citizenship criteria to apply for citizenship. Here’s a quick overview of Greece and Portugal’s requirements.

 

Citizenship requirements for Portugal:

 

  • Five years of living in Portugal, on average seven days a year

  • Having no unpaid taxes in Portugal

  • A2 Portuguese language exam

  • No criminal record in the home country

 

Citizenship requirements for Greece:

 

 

  • Seven days of living in Greece for more than 183 days each year

  • Greek citizenship examination

  • No criminal record in your home country

Golden Visa Europe Programs’ Taxation

 

This has nothing to do with the Golden Visa program but is a concern for everyone. As long as you’re not a tax resident in these countries, you only owe taxes on income earned in the hosting country. You don’t have to pay taxes on your foreign earnings.

How to apply for the Non-Habitual Residency in Portugal Golden Port Visa

 

There’s a Non-habitual Residency scheme in Portugal which is a tax policy aimed to help foreigners become tax residents in Portugal. it is one of the most appealing tax schemes in the European Union.

 

Now, how do you decide which program to apply to? There are definitely many similarities between Greece and Portugal’s Golden Visa in terms of application time, passport ranking, minimum investment required, and family eligibility.

 

It is important to keep in mind though, that Greece applies more economic restrictions to its foreign residents than Portugal. While Portugal Golden Visa holders can work without restrictions in Portugal, this is not the case in Greece, where you’re able to live but not work (unless you create your own business).

 

 

In terms of taxes, Greece imposes an income tax rate that starts at 22% to all its residents, while Portugal offers attractive tax incentices for its foreign residents under the NHR tax regime – so, if your main goal is to reduce your taxation then Greece’s Golden Visa might not be the best option to you. Real estate can also prove to be more costly in Greece than in Portugal, as property taxes are high in Greece.

 

A major plus for the Portuguese program is the ability to apply for a Portuguese passport five years prior to obtaining residency, contrary to the seven years needed for acquiring a Greek passport.

 

Greece offered the cheapest investment option a month ago with no residency requirements. On September 20th, the Greek government announced the minimum investment increase from €250,000 to €500,000.

 

Portugal has been recognized as one of the best countries to live in for expats. With more attractive and still affordable investment options available in Europe.

 

Portugal offers you stability, quality of life and more opportunities as a foreigner.

 

 

 Golden Port Visa is here to assist you through the entire process. We are more than an immigration consultancy – we are your trusted Portuguese partner that will help you achieve your relocation goal.

 

We specialize in assistance with residency and property investment in Portugal. Contact us to schedule a free call or send us an email to know more about the program.

FAQ - Greece vs Portugal Golden Visa

Does the investor have to pay taxes in Portugal on his/her worldwide income?

No.  If the investor doesn’t spend 183 days or more in Portugal within a year, the investor is not a domicile.  In that case, the investor doesn’t pay taxes in Portugal on the worldwide income, apart from that in Portugal.

Can I obtain an EU passport by applying to the Greece or Portugal Golden Visa program?

Yes, you can obtain an EU passport by applying for the Greece or Portugal Golden Visa program. The main difference is that you’ll be able to acquire a Portuguese passport after five years of residency, while it’ll take seven years to obtain a Greek passport.

 

Which Golden Visa program is the best? Comparison: Portugal vs Greece

It depends. It depends on the criteria of the investor, and there are many variables that go into answering that question.  Nevertheless, we recommend applying for the Portugal Golden Visa as it has more investment options, offers great tax benefits to foreign residents, gives its holders the ability to work in Portugal, and ultimately is the fastest route to acquiring EU citizenship.