Hungary vs Greece vs Portugal Golden Visa: what to choose in 2026

What we compare and why these three

All three programs solve one task - they grant an EU residence permit by investment, freedom of movement around Schengen and status for the whole family. But they are fundamentally different, and there is no universally “best” among them: there is a best one for a specific goal. Someone is looking for an inexpensive backup status, someone wants to invest in real estate, and someone is aiming for an EU passport - and a different country wins for each of these tasks.

Below is a comparison using the current 2026 figures: first a summary table, then a detailed breakdown of each program with amounts, the full cost estimate, timelines and taxes, and at the end - a direct answer on what to choose for your situation. All three program guides are covered separately, and we give the links throughout the text.

The big 2026 comparison table

The main forks are visible at once. Hungary wins on price and length of status. Greece is the only one with direct real estate and a real asset in ownership. Portugal has the shortest path to a passport, but is more expensive and with a presence requirement. Next we break down each one in detail.

Hungary - the cheapest and longest status

The Hungary Golden Visa is officially called the guest investor residence permit. It is the youngest of the three routes (launched in 2024) and the most affordable to enter.

Investment. The main route is from 250,000 euros into units of an accredited real estate fund regulated by the Central Bank of Hungary; the units are held for at least five years, after which they can be sold. The direct purchase of housing for 500,000 euros was cancelled in December 2024, a few days before its planned start - only the non-refundable donation of 1,000,000 euros remains, but very few go through it.

The full cost estimate. On top of the investment come fund fees, government processing duties (a few thousand euros), legal support, the translation and legalization of documents, and medical insurance for the family. Since the main amount is refundable, the real “cost” of the program is the associated expenses plus the fund fees and a possible difference in yield.

Timelines. First a guest investor visa is arranged for 6 months, after entry the investment is made within the set period, and then a ten-year residence permit is issued in about 90 days. Taxes. Corporate tax of 9% is one of the lowest in the EU, personal income tax is a flat 15%; but the residence permit itself does not make you a tax resident - that is determined by actual residence. A full breakdown is in the guide Hungary Golden Visa.

• Pros: the lowest threshold, status for 10 years right away, no mandatory residence, a refundable investment, low taxes for business.
• Cons: no direct real estate, a limited choice of accredited funds, a long path to a passport, a young program with practice still taking shape.
• Who it suits: those who need an inexpensive and long backup status in the EU without relocating and without the goal of quickly obtaining a passport; entrepreneurs for whom the 9% tax matters.

Greece - the only one with real estate in ownership

The Greece Golden Visa is the oldest and most popular of the three, and the only one where a residence permit is still granted for buying real estate.

Investment. The threshold depends on the area: roughly from 250,000 euros for certain properties (the restoration of listed buildings, conversion from non-residential stock), from 400,000 euros in most regions and from 800,000 euros in the most sought-after zones - Athens, Thessaloniki, large islands, Mykonos and Santorini. There is also a financial route - from 400,000 euros in government bonds, shares or funds. The purchased real estate can be rented out for income.

The full cost estimate. On top of the property's value - the transfer tax (3% or VAT for new builds), the notary and registration, the lawyer's fee, government duties for residence cards for each family member, and the annual property tax. Timelines. From purchase to card is usually a few months; the status is issued for 5 years and renewed as long as the investment is maintained, with no residence required.

Taxes and citizenship. Greece offers preferential regimes for new tax residents, but the residence permit itself does not oblige tax residency. The path to a passport is seven years of actual residence and a Greek language exam, so for “paper” investors without relocation, citizenship here is no faster than in Hungary. Details are in the guide Greece residence permit through property.

• Pros: a real asset in ownership that can be rented out; no mandatory residence; an understandable and liquid rental market; the status is renewable indefinitely.
• Cons: the thresholds have risen, top locations are expensive; citizenship only after 7 years of actual residence with the language.
• Who it suits: those who want to buy real estate in Europe and have the investment work, with European status as a bonus.

Portugal - the short path to an EU passport

The Portugal Golden Visa is Europe's most famous program, but in 2023 it underwent a major reform.

Investment. Real estate was removed from the program entirely. Today the working options are accredited investment funds (from 500,000 euros), cultural donations (from 250,000 euros, less in sparsely populated areas), support for science and job creation. The most popular route is funds.

The full cost estimate. On top of the investment come one-time and annual government duties for cards for each family member (noticeably higher than in Hungary and Greece), fund fees, legal support and the biometrics fee. Timelines and presence. Cards are issued and renewed in stages; unlike Hungary and Greece, you need to be physically present in the country - on average about seven days a year.

The main trump card is citizenship. You can apply for an EU passport just five years after obtaining the status, and this is the most predictable route to citizenship among the three. The non-habitual resident tax regime is closed to new applicants; it has been replaced by a limited regime for certain professions. A breakdown is in the guide the Portugal Golden Visa.

• Pros: the shortest and clearest path to an EU passport (5 years), a strong program brand, minimal presence.
• Cons: more expensive to enter, no more real estate, you need to visit the country, the former tax regime is wound down.
• Who it suits: those who are aiming specifically for EU citizenship and are ready to invest in a fund and visit once a year.

The full cost: what to look at besides the investment amount

Comparing programs only by the entry threshold is a mistake. The real picture is made up of four parts: the investment itself (refundable or not), government duties per family member, professional costs (lawyers, translations, due diligence) and annual expenses (property taxes in Greece, fund fees in Hungary and Portugal).

Over the long run Hungary often turns out to be the most economical: the investment is returned and the duties are moderate. Greece is attractive because the money is invested in a liquid asset that also brings in rent. Portugal is the most expensive in terms of total fees, and people pay for it primarily for the sake of fast citizenship.

Risks and typical mistakes when choosing

• Focusing only on the entry threshold and forgetting about duties, fees and annual expenses - the final estimates can come out closer than it seems.
• Confusing a residence permit with citizenship. None of the three programs grants a passport immediately; Portugal leads to it fastest, but even there it takes five years.
• Believing that a residence permit automatically changes taxes. Tax residency is determined by actual residence, not by a card.
• Taking Greece for the sake of citizenship - but without seven years of actual residence and the language, the passport will not get any closer.
• Underestimating the presence requirement in Portugal - seven days a year is not much, but it is mandatory.
• Choosing a fund only by the entry amount, without looking at the strategy, fees and liquidity - in both Hungary and Portugal this is half of the success.

What to choose if…

• Minimum budget - Hungary (from 250,000 euros) with a refundable investment.
• I want real estate in ownership - only Greece.
• I need an EU passport within a foreseeable timeframe - Portugal (application after 5 years).
• I don't want to travel anywhere - Hungary or Greece (no residence required).
• Business in the EU with low tax - Hungary (corporate tax 9%).
• A long status without frequent renewals - Hungary (10 years right away).
• I want an asset with rental income - Greece.

The key points

• Hungary - the cheapest entry (from 250,000 euros) and the longest status (10 years), with a refundable investment; but without direct real estate and with a long path to a passport.
• Greece - the only one with the purchase of real estate in ownership; a threshold of 250,000-800,000 euros depending on the area, no residence, the asset can be rented out.
• Portugal - more expensive and without real estate, but the shortest path to EU citizenship (5 years) with a presence of about a week a year.
• There is no universally “best” one - the goal dictates the choice: price, asset or passport. And always calculate the full estimate, not just the entry threshold.

You can compare the programs across all parameters in the comparison tool, and related analyses are in the articles Top 10 Golden Visas in EuropeandResidence permit: Greece, Portugal or UAE.