Greece vs Spain Golden Visa 2026 — Spain Closed, Greece is the Only Option
Spain officially abolished Golden Visa in April 2025 · Greek €250,000 channel remains open
Verdict
Spain officially abolished the Golden Visa on April 3, 2025, by parliamentary vote. All investment routes (real estate, funds, bonds, bank deposits, business investment) closed. The Greek Golden Visa (Law 5038/2023) became the only active real-estate investment migration program in southern Europe. The €250k commercial-to-residential threshold is half of Spain's historical €500k. For investors who missed Spain, Greece offers the only viable southern European pathway.
1. Program Background & Legal Basis
Spain previously attracted significant international investment via its €500k real-estate Golden Visa. However, in April 2024, Prime Minister Pedro Sánchez announced abolishment citing "exacerbation of housing crisis," and the parliamentary act formally took effect on April 3, 2025. All real-estate, fund, bond, bank deposit, and business investment routes closed. This means southern Europe (Mediterranean climate + Eurozone) now has only Greece as a residence-by-investment option. This article compares the two countries program point-by-point, supporting clients who missed Spain to understand the Greek route.
2. Side-by-Side Comparison
Based on official legal/policy documents of both countries, comparing 9 key dimensions.
Program Status
Minimum Investment (historical / current)
Residency Requirement
Processing Time
Family Coverage
Permanent Residence Validity
Schengen Access
Southern European Climate / Culture
Legal Basis
| Dimension | 🇬🇷 Greece | 🇪🇸 Spain |
|---|---|---|
| 01Program Status | ✅ Active (Law 5038/2023) | ❌ Abolished April 3, 2025 |
| 02Minimum Investment (historical / current) | €250,000 (active) | €500,000 (closed, no new applications) |
| 03Residency Requirement | 0 days/year | Historically no requirement, now not applicable |
| 04Processing Time | 3–6 months | Not applicable |
| 05Family Coverage | Principal + spouse + children + parents of both spouses (3 generations) | Historically principal + spouse + children |
| 06Permanent Residence Validity | 5-year renewable indefinitely; convertible to EU LTR after 5 years | Not applicable |
| 07Schengen Access | ✅ 29 countries visa-free | Not applicable |
| 08Southern European Climate / Culture | Mediterranean climate, Greek / English | Mediterranean climate, Spanish |
| 09Legal Basis | Law 5038/2023 (active) | Ley 14/2013 → abolished 2025/04/03 |
Gold-highlighted rows show dimensions where Greece is significantly advantaged. Data based on public legal texts as of May 2026; OULANG INTERNATIONAL does not assume responsibility for data currency. Confirm with current regulations before formal application.
🇬🇷 Greek Advantages
- ✓After Spain's closure, Greece is the only active Golden Visa in southern Europe
- ✓€250k vs Spain's historical €500k — half the threshold
- ✓Zero residency requirement + three-generation coverage (Spain had narrower family scope)
- ✓4-month approval (Spain previously needed 6–12 months)
- ✓Non-Dom tax preferences combinable — Spain's Beckham Law has narrow eligibility
🇪🇸 Spain Limitations / Restrictions
- ✗Golden Visa completely closed — no new applications accepted
- ✗Non-EU buyers in Barcelona/Madrid face new 100% property transfer tax regulation
- ✗Original Beckham Law tax preferences limited to employed status
- ✗Under southern European housing crisis, future policy trends toward foreign investor restrictions
3. Which Audience Fits Which Program
Families originally planning Spanish Golden Visa, seeking southern European climate + real estate + permanent residence
Already have Spanish work / study / business, can pursue Non-Lucrative / startup / work visa routes
4. Real Client Scenario (OULANG 2024–2026 Records)
Scenario: Shenzhen-based Mr. Wang first explored Spain's Golden Visa in early 2024; he heard closure rumors by October and the route was completely closed by April 2025. Pivoting to Greece, he selected a €400k Athens north-suburb property, was approved in 3 months, his entire family of three generations landed, and saved €100,000 in initial outlay.
5. Frequently Asked Questions
When did the Spanish Golden Visa close?+
Spanish Prime Minister Pedro Sánchez announced abolishment on April 8, 2024. The parliamentary abolition act was formally passed and took effect on April 3, 2025, immediately closing all original investment routes (real estate €500k, fund €1M, bond €2M, bank deposit €1M, business investment).
Can residence in Spain still be obtained after Golden Visa closure?+
Yes, but only via non-investment routes: Non-Lucrative Visa (requires passive income ~€2,400/month proof), Digital Nomad Visa (requires remote work contract + monthly income ~€2,650), Startup Visa, Work Visa, etc. These routes have significantly stricter thresholds and residency requirements than the Golden Visa.
Will Greece's Golden Visa also close like Spain?+
From the policy trajectory perspective, the probability is low. Greece passed Law 5038/2023 in 2024 explicitly maintaining the Golden Visa (only raising thresholds for some regions), positioning it as an important tool for attracting Eurozone foreign capital. However, the €250k commercial-to-residential channel may face future tightening — we recommend applying within the window.
Big differences between Greek and Spanish climate / culture?+
Both have Mediterranean climates with abundant sunshine year-round and distinct seasons. Culturally, Greece is more classical (homeland of Plato, Aristotle), Spain more modern (flamenco, football culture). Living costs in Greece (Athens) are 20–30% lower than Spain (Madrid / Barcelona).
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