Greece or Spain in 2026: golden visa, residence permit, taxes, real estate - what to choose

The main thing in 2026: Spain has closed the golden visa, Greece still has it

If you are choosing between Greece and Spain for a residence permit through real estate investment, then you need to know the main news right away, before all the tables and nuances: Spain has canceled the golden visa. From April 3, 2025, it is no longer possible to submit a new application for a Spanish residence permit for the purchase of housing over 500,000 euros. The program, which worked for twelve years, was closed by law - the government explained this by pressure on the housing market in Madrid and Barcelona and the desire to return real estate to the status of a right, and not an object of speculation.

Greece has taken the opposite path: its golden visa is not only alive, but remains one of the most popular in Europe. Yes, the thresholds have grown and become three-level (more on this below), but the mechanism itself - bought real estate, received a five-year residence permit for the whole family - is fully operational in 2026. The Greek Ministry of Migration issued a separate clarification on April 22, 2026 (Circular 1/2026), clarifying how to apply the updated rules in practice.

What does this mean in decision language? An investor who considered Spain specifically as a way to obtain a residence permit for an apartment or house will no longer have such an option there in 2026. If an EU residence permit through real estate is your goal, the choice is actually made for you: this is Greece. A detailed analysis of the conditions is in our guide to Greece golden visa. At the same time, Spain did not close completely - there were other visas left there, just not for the purchase of housing. More on this in the following sections.

Greece or Spain: comparison table by key criteria

In order not to get lost in the details, we will collect all the main parameters in one table. This is a comparison framework - then we will analyze each point in more detail. Important disclaimer: the figures for taxes and thresholds are given as of 2026 and are approximate; specific rates depend on the region, status and individual situation, so they should be checked before the transaction.

It can be seen that in most everyday parameters - climate, prices, EU membership - the countries are on par. The decisive difference lies in exactly two planes: the availability of residence permits for real estate (here Greece has a monopoly) and in tax regimes, where each country has its own logic.

Golden Visa: Why Greece beats Spain in 2026

This is the central point of the entire comparison, so we will analyze it as as possible. A golden visa is a residence permit in exchange for an investment, most often in real estate. For a large category of people, this was the reason to choose Spain. Now this reason is gone: the Spanish program has been closed.

The Greek golden visa in 2026 works like this:

• 250,000 euros - only for special cases: transfer of a commercial property into a residential one (conversion) or restoration of an architectural monument. Work must be completed before application is submitted.
• 400,000 euros - standard threshold for most regions of the country.
• 800,000 euros - premium zones: Attica (Athens), Thessaloniki, Mykonos, Santorini and islands with a population of over 3,100 people.

The minimum area of ​​the object is 120 m², the transaction must be for one object (a rule introduced in 2024). The flat threshold of 250,000 euros, which once made Greece the most affordable in Europe, ended on September 1, 2024 - now only available for conversions and restorations.

The residence permit is issued for five years, is renewable, covers the entire family, and almost no minimum presence is required. An important prohibition: short-term rental (Airbnb) of an object purchased under a golden visa is prohibited - for this the residence permit will be revoked and a fine will be imposed. The conclusion on this block is simple: if the task is an EU residence permit through real estate, Spain does not have an answer in 2026, but Greece does. Details and calculations are in the material about Greece golden visa.

Residence permit in Greece without purchasing real estate: nomad and FIP

The Golden Visa is not the only door to Greece. If you do not plan to buy real estate for hundreds of thousands of euros, but want to live legally in the country, there are two working options for a residence permit based on income.

• Digital Nomad. For those who work remotely for a foreign employer or as a freelancer. You need to confirm your income - approximately 3,500 euros per month. First, a visa is issued, then a residence permit. An ideal option for IT specialists, designers, consultants who lead projects around the world and want to live by the sea.
• FIP is a financially independent person. For those who have stable passive income (rent, dividends, pension) - also approximately from 3,500 euros per month. You cannot work in Greece under this status, but you can live in Greece.

Both routes do not require a large one-time investment and are suitable for those who want to first live in the country, look around, and only then decide about buying a home and switching to a golden visa. By the way, this is a typical scenario: a person arrives on a nomad visa, falls in love with the island, buys a house and is re-issued for an investment residence permit. If you're considering purchasing as your next step, it's helpful to do some research beforehand. how to buy property in Greeceto understand the pricing and procedure.

Residence permit in Spain after the cancellation of the golden visa: what remains

The closure of the golden visa does not mean that the path to Spain is completely closed. It’s just that now you can’t get a residence permit for the fact of purchasing real estate - but other grounds work. There are two main ones:

• Digital nomad visa. Spain launched it relatively recently and it remains relevant. Suitable for remote workers and freelancers with foreign clients. It is required to confirm income (approximately from 2500-3000 euros per month, depending on family composition) and the remote nature of the work. It gives a residence permit and access to an attractive tax regime - more on that below.
• Non-lucrativa visa (without the right to work). A classic option for financially independent people and retirees: you show sufficient passive income or savings and live in Spain without working in the local market. Income requirements are tied to the government's IPREM and are reviewed annually.

The fundamental difference with Greece: you can still buy a house in Spain freely, but the purchase itself no longer gives you a residence permit. That is, real estate in Spain in 2026 is about lifestyle and investment, but not about migration status. If you just need a combination of real estate plus a residence permit, Greece remains the only option of these two.

Conditions and cost of entry: how much does each path actually cost?

Let’s put the money into one picture so that you can see the real entry threshold for each scenario. The figures are indicative for 2026, excluding taxes on the transaction and support.

Budget conclusion: if you are ready to invest in real estate and want a residence permit for it, go to Greece; there are no other options between these countries. If there is no large capital for investment, but there is a stable income, both countries are open through nomad or rentier visas, and here the choice is up to the climate, taxes and personal preferences.

Real estate: Greece or Spain - where to buy in 2026

Since real estate is the key asset in this comparison, we will analyze the markets separately. And immediately an important thought: after the abolition of the Spanish golden visa, buying a home in the two countries has become different in meaning. In Greece, an apartment or house can simultaneously be both an investment and the basis for a residence permit. In Spain - only an investment and a place to live.

• Greece. Foreigners buy freely, except in border zones where special permission is required. You need a tax number (AFM) and a notary. Liquid market: Athens, Thessaloniki, Crete, Rhodes, Santorini, Corfu, Chalkidiki. Upon purchase - transfer tax of about 3.09%, annual property tax ENFIA.
• Spain. Foreigners also buy freely, the market is huge and mature: Costa del Sol, Barcelona, ​​Madrid, Valencia, Balearics, Canaries. But taxes on the transaction are higher - depending on the region and type of housing, it can be 6-10% or more.

The countries are comparable in terms of prices: both have budget regions and premium zones where a square meter is expensive. The fundamental difference is precisely in the migration bonus: a Greek purchase from 250-400 thousand euros opens a golden visa, a Spanish one does not. Therefore, for an investor with an eye on a residence permit, the answer to the question of real estate in Greece or Spain in 2026 shifts to Greece. How the deal itself works - in the guide how to buy property in Greece.

EU citizenship: 7 years in Greece vs 10 years in Spain

If the ultimate goal is an EU passport, and not just a residence permit, then the timing of naturalization becomes an important criterion. There is a noticeable difference between countries here.

• Greece - about 7 years. Naturalization requires seven years of legal residence, a Greek language exam and a test of knowledge of the history, culture and geography of the country (Panhellenic), as well as actual presence (about 183 days a year). Dual citizenship is allowed.
• Spain - 10 years. The standard residency requirement is ten years of residence. But there is an important exception: for citizens of Latin American countries, as well as Andorra, the Philippines, Equatorial Guinea and Portugal, the period is reduced to 2 years. For most non-EU immigrants, a general ten-year term works.

There is also a nuance regarding dual citizenship: Spain generally requires the renunciation of previous citizenship upon naturalization (except for Ibero-Americans and a number of countries), while Greece allows dual citizenship. For Russians and citizens of other CIS countries, this means that the path to a passport through Greece is shorter (7 years versus 10) and does not require a formal renunciation of their first citizenship. More details in the material about Greek citizenship.

Climate, lifestyle and infrastructure: where is it more comfortable to live?

When the legal and tax differences are weighed up, what remains is what people move to southern Europe for: the quality of everyday life. And here's the answer: both Greece and Spain provide a wonderful Mediterranean lifestyle, the difference is more in shades than in principle.

• Climate. Both countries have mild winters, long warm summers and more than 250-300 sunny days a year in the southern regions. The Greek islands and the Spanish coast are comparable in weather. In the south of Spain (Andalusia, Canary Islands) winters are slightly warmer, while the Greek islands are drier in summer.
• Infrastructure. Spain is larger and denser: developed medicine, airports, roads, international schools, big cities. Greece is more compact, but Athens and Thessaloniki cover all basic needs, and the islands provide the very tranquility for which many come.
• Community and language. Spain has more English-speaking and Russian-speaking environments in popular regions. There are fewer Russian-speaking communities in Greece, but they exist in Crete, Rhodes, and Athens.

In terms of cost of living, the countries are approximately equal: food, rent, services in non-tourist areas are available in both. To simplify: Spain is about scale and developed urban life, Greece is about the sea, islands and a more intimate rhythm. This is a matter of personal taste, not numbers.

Features for citizens of Russia and the CIS

We will separately talk about what is important for our readers from Russia, Kazakhstan and other CIS countries, because the general EU rules in practice are supplemented with nuances.

• Short-term entry. For both Greece and Spain, Russians need a Schengen visa. After 2022, the rules have become stricter, multiple visas are issued to a limited extent, but visas for tourism and business trips are issued.
• Long term accommodation. To move, you need a national D visa for a specific reason - golden visa, nomad, FIP or non-lucrativa. It is the residence permit that removes the dependence on Schengen visas.
• Golden visa and compliance. The Greek golden visa is available to Russians, but strictly legally and with enhanced verification of the source of funds. There is no circumvention of sanctions - all money must have a transparent origin, otherwise both the bank and the migration service will reject the application.

Practical conclusion: for a citizen of Russia or the CIS who wants to obtain an EU residence permit for real estate, Greece in 2026 is a real and workable path, while the Spanish door for real estate is closed to everyone equally. At the same time, the preparation of documents on the source of funds must be taken seriously - this is now the most sensitive stage.

Who is Greece suitable for, and who is Spain: analysis according to scenarios

Let's boil everything down to practical portraits. This is not a ranking - each scenario has its own winner.

• An investor who needs a residence permit for real estate is Greece. There’s not even anything to choose from: Spain no longer has this option.
• Pensioner with a foreign pension - Greece. A 7% rate on a pension for 15 years is something that simply does not exist in Spain.
• A very wealthy person with a large global income - often Greece. Fixed 100,000 euros per year under the non-dom regime are beneficial for large foreign incomes.
• Remote specialist with salary - both are possible. There is a nomad visa in both places; for an employee with a high salary, the Spanish Beckham regime (24%) may be more profitable.
• Those who value a fast EU passport are Greece (7 years versus 10). Unless you are a citizen of a Latin American country, then Spain gives you a passport for 2 years.
• Those who value the size of the city and developed infrastructure are Spain. Large cities, medicine, schools, air travel.

As you can see, for the most common investment request - residence permit through real estate - there is only one answer in 2026. In other scenarios, the choice is more subtle and depends on your taxes, income and lifestyle.

Common mistakes when choosing between Greece and Spain

In practice, we see that people lose money and time on the same misconceptions. Let's list the main ones so you can bypass them.

• Rely on outdated articles about the Spanish golden visa. The network is still full of materials where Spain gives a residence permit for 500,000 euros in real estate. This is not true as of April 2025. Always check the date.
• Confuse buying real estate and obtaining a residence permit. In Spain you can buy a house, but you cannot get a residence permit for it. In Greece these things are connected, in Spain they are no longer so.
• Ignore the ban on short-term rentals. In Greece, renting out a gold visa property through Airbnb is prohibited - the residence permit will be revoked for this. Many people find out about this after the purchase.
• Underestimate compliance based on the source of funds. For CIS citizens, this is now a key stage of the golden visa. Non-transparent origin of money is a common reason for refusal.
• Choose a country based on climate, forgetting about taxes. The difference in tax regimes over the years of your life can amount to hundreds of thousands of euros - this is more important than a couple of extra sunny days.

Each of these mistakes costs either money or a lost year. The correct procedure is to first determine the purpose (residence permit, taxes, passport), and only then choose a country for it, and not vice versa.

Taxes: Greek non-dom and 7% against the Spanish Beckham regime

Taxes are the second reason to choose a country after the golden visa, and here the logic for Greece and Spain is completely different. Let's look at the main special regimes for which wealthy people generally move.

Greece - non-dom regime. A wealthy individual who transfers his tax residence to Greece can pay a flat €100,000 per year on his entire worldwide income - no matter how much he earns abroad. The condition is to invest at least 500,000 euros in Greece over three years and have a minimum presence. The regime is valid for up to 15 years, and 20,000 euros per year is added for each family member. For large capital, this can be very profitable.

Greece - 7% for pensioners. A separate and very attractive benefit: a foreign pensioner who moves to Greece pays only 7% on his foreign pension and other foreign income. The regime is valid for 15 years. Spain does not have a similar regime - this is Greece’s strong trump card for those retiring.

Spain - Beckham regime. Named after the football player who first used it. A new tax resident (often a work resident or on a nomad visa) pays a flat 24% on income in Spain up to €600,000 per year, and foreign income is generally not subject to Spanish tax. The regime is valid for up to six years.

Bottom line: Greece wins for retirees (7%) and those with huge global income (fixed 100k). Spain is attractive for working professionals with high but not exorbitant salaries. Full analysis - in the material about taxes in Greece.

An expert's view: how to make a decision without regrets

Let us summarize the main thing from the perspective of a practitioner. The decision between Greece or Spain in 2026 does not depend on the beauty of the coast, but on two things: the availability of a residence permit for real estate and the tax regime for your situation. And this is where they most often make mistakes.

What is important to keep in mind when choosing:

• If the goal is a residence permit for square meters, the choice is made: only Greece has a golden visa.
• If you are a pensioner, the Greek 7% outweighs almost everything.
• If you are a hired specialist with a high salary, compare the Greek and Spanish regimes using your figures; sometimes Spain is more profitable.
• If you need an EU passport faster - Greece is 7 years shorter than the Spanish 10.

You should always check current requirements and forms on the official Greek public services portal gov.gr, because the thresholds and rules are updated periodically. And the full picture on the golden visa for Greece is in our detailed guide.