Greece vs Italy Golden Visa
- World CBI
- Jan 7
- 5 min read
If you are a couple or family dreaming of relocating to Europe, navigating the various residency options can be a daunting task. Among the most attractive programs available are the Golden Visa schemes offered by Greece and Italy. Both countries provide pathways for foreign investors and their families to attain residency, but the details can vary significantly. In this blog post, we will provide a comprehensive comparison of Greece vs Italy Golden Visa programs focusing on costs, lifestyle, taxes, and time to citizenship.
Investment Costs Comparison
Greece
The investment costs for Greece's Golden Visa program start remarkably low. Here’s a breakdown of the various investment options:
Minimum €250,000: This route is available for buying property with the intention of converting commercial properties to residential ones.
€400,000: This is for investing in standard regions, requiring a minimum square footage of 120 sqm. Properties here cannot be used for short-term rentals.
€800,000: This option targets high-demand areas within Greece.
Alternative Avenues: Other investments include a €500,000 bank deposit, funds, bonds, or company shares.
Startup Investment: A minimum of €250,000 in a startup, with a condition of creating two jobs for five years.
Family Extension: An additional €20,000 per family member.
Italy
Italy also has various investment options but at a comparatively higher cost:
Minimum €250,000: This option focuses on innovative startup investments.
€500,000: This requires investing in established Italian company equity or corporate bonds/shares.
€1,000,000: A philanthropic donation is another way to obtain a Golden Visa.
€2,000,000: This entails investing in government bonds to be held for a minimum of two years.
Additional fees include a 2.5% subscription fee and a 1% annual management fee for some routes.
Both options start at €250,000, but Greece provides flexibility in types of investments, especially with real estate, making it more budget-friendly for families wishing to settle.
Lifestyle & Cost of Living
Greece
Greece is not just a beautiful country; it offers a compelling lifestyle that appeals to many expats. Here are key aspects:
Ranked #1 in the 2026 Global Retirement Index.
Cost of living is 12% below the EU average, making it an affordable option.
The Mediterranean climate promises warmth, with pristine beaches and a laid-back lifestyle.
The local diet is healthy, rich in Mediterranean cuisine.
Popular cities include:
- Athens: A bustling business hub with around 4 million residents.
- Thessaloniki: With lower living costs and a population of 800,000.
- Crete and Corfu: Known for their expat communities and friendly atmospheres.
Greece also boasts over 6,000 islands, each with unique charms and a close-knit community vibe, along with well-regarded healthcare services.
Italy
Italy is famed for its rich cultural heritage, but it comes with a higher price tag for living expenses:
The overall cost of living is 16-17% higher than Greece, particularly when it comes to housing, which is 39% more expensive.
A family of four will spend between €2,561-2,833 on monthly expenses, excluding rent, in major cities like Rome and Milan.
Rental prices:
- €959-1,028 for a one-bedroom in city centers like Rome and Milan.
- €2,004-2,014 for a three-bedroom apartment.
Italy boasts a vibrant culture, incredible food, and historical architecture but does require a larger financial commitment to live comfortably, especially in the more populated northern cities.
Taxes
Greece
Greece operates on a progressive income tax system with the following rates:
€0-10,000: 9%
€10,001-20,000: 20%
€20,001-30,000: 26%
€30,001-40,000: 34%
€40,001-60,000: 39%
Over €60,000: 44%
Families benefit from reduced rates, and there are special regimes for new residents such as:
A flat 7% tax on foreign pension income for retirees.
A flat tax of €100,000 annual on foreign income for high net-worth individuals plus an additional €20,000 per family member.
Italy
Italy also uses a progressive tax system, with recent reforms reducing the second bracket from 35% to 33%. Notably, for new residents, a €300,000 annual flat-lump tax will be instituted for qualifying high-net-worth individuals along with a €50,000 fee for each family member.
The tax rates in Italy can be confusing and expensive, particularly with its high flat tax for new wealthy residents, making Greece a more attractive option tax-wise, especially for families.
Residency Requirements & Benefits
Greece
Greece offers a flexible residency program:
No minimum stay requirement: Enjoy the freedom of residency without being tied to time.
Valid for 5 years and renewable indefinitely.
Visa-free Schengen travel is granted.
Family members, including spouse and children under 21, can be included.
Some basic requirements include a clean criminal record and full private health insurance.
Processing times are impressively short, typically within 2-6 months, making it a compelling option for families wishing to move quickly.
Italy
Italy also has no minimum stay requirement for residency:
A 2-year renewable residence permit is provided.
Visa-free travel within the Schengen area.
Family inclusion is allowed, subject to the same requirements as Greece, including private healthcare.
However, the processing time is less explicitly defined, which can be a factor in decision-making.
Time to Citizenship
Greece
Acquiring citizenship in Greece can be achieved in:
7 years, requiring proof of physical presence for at least 183 days per year.
A Greek language exam and a clean criminal record are mandatory.
The pathway to citizenship is relatively straightforward but does require a longer commitment compared to residency.
Italy
Italy's citizenship comes with more stringent requirements:
The process can take up to 10 years for non-EU citizens.
Like Greece, you need to prove physical presence for 183 days annually.
An Italian language certification and proof of income for the past three years are required, alongside a €250 application fee.
Given these criteria, Greece’s pathway to citizenship is faster, albeit requiring physical residence down the line.
Making Your Decision
Ultimately, the choice between Greece and Italy's Golden Visa programs hinges on personal priorities. For families looking for:
Lower initial investment costs: Greece is more affordable.
Lifestyle and community: Both countries offer rich experiences, but Greece often edges out for a lower cost of living and a more relaxed pace.
Taxation: Greece generally has more family-friendly tax rates.
Processing speed: Greece excels in timely applications.
Deciding which program suits your family's needs depends on budget constraints and lifestyle preferences.
Further Resources
For a more detailed dive into the individual programs, check official sources:
By carefully evaluating the factors laid out above, couples and families can make informed decisions about their future in Europe.
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