Malta vs Greece Golden Visa programs both offer permanent residency through investment, providing non-EU investors and their families with access to the Schengen Area. Both also programs feature real estate investment options as one of the key routes to obtaining residency.

However, while the programs are similar in many ways, they differ in important aspects such as investment requirements, government fees, processing times, and other factors.

This article will compare the Malta Golden Visa and the Greece Golden Visa, highlighting their similarities and differences, and also provide insight into other European residency options available through investment.

This is more of what we will cover:

Malta vs Greece Golden Visa Overview

Malta Permanent Residency Program offers permanent residency through a three-part investment. The program requires a €375,000 property purchase or €14,000 annual rental, along with a government contribution of €30,000 for buying or €60,000 for renting. In addition, a donation to a Malta based charity of €2,000. The program provides residency for investors and their families, with visa-free access to the Schengen Area. There’s no minimum stay requirement and processing time is up to 12 months.

Greece Golden Visa Program grants permanent residency through a €250,000 real estate investment, with no minimum stay requirement. The program offers residency to the investor and their family, along with visa-free travel in the Schengen Area. The processing time is up to 12 months.

Malta vs Greece Golden Visa Comparison

Feature

Malta Permanent Residence Program

Greece Golden Visa

Application Time

~12 months

~12 months

Malta: 28th (visa-free to 188 countries)

Greece: 42nd (visa-free to 183 countries)

Time to Citizenship

The Malta Permanent Residency Program (MPRP) doesn’t directly lead to citizenship and requires demonstrating significant ties to Malta i.e. Physical residence 15-10 years

Seven years of legal residency (6 months of every year)

Qualifying Investment

€375,000+ (property purchase) or €30,000 (government contribution) + €14,000+/year rental or €60,000 government contribution for renting + €2,000 donation

€250,000+ (real estate investment) or €500,000 capital transfer or contribution options or €350,000-€800,000 (business/government bonds)

Residency Requirement

No minimum stay required

No minimum stay required

Ability to Work

Not directly, but additional permission can be acquired easily

Yes, you can work, start a business, or freelance

Family Inclusion

Yes: spouse, dependent children (up to 29 years , dependent parents and grandparents

Yes: spouse, children (under 21 or dependent), dependent parents

Residence Permit

5 years and renewable

5 years and renewable

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Benefits of the Malta Permanent Residency and Greece Golden Visa Programs

Both the Malta Residency by Investment Program and Greece Golden Visa offer several attractive benefits for investors:

  • Permanent Residency: Both programs provide permanent residency status to investors and their families, ensuring long-term stability.
  • Visa-Free Travel: Malta and Greece grant residents access to the Schengen Area, which allows visa-free travel across 26 European countries.
  • Family Inclusion: Both programs allow applicants to include immediate family members, spouses, and dependent children in their applications.
  • No Minimum Stay Requirement: Neither program mandates a minimum stay
  • EU Residency: Both programs provide a pathway to EU residency, offering access to the benefits of living and working within the European Union.

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Malta vs Greece Golden Visa Eligibility Requirements

These are the requirements for the Malta Permanent Residence Program and Greece Golden Visa.

Greece Golden Visa requirements

  • Non-EU citizens
  • Applicants who are at least 18 years of age
  • Applicants who have a clean criminal record
  • Applicants who obtain health insurance coverage from a Greek insurance company for themselves and their family members

Malta Permanent Residency by Investment Program requirements

  • Be at least 18 years old.
  • Have a clean criminal record and no security or reputational risks.
  • Have a certificate of good health.
  • Show a stable source of income.
  • Own assets worth at least €500,000 (€150,000 must be financial assets) OR €650,000 (€75,000 must be financial assets).
  • Clean criminal record.

Greece Golden Visa Investment Options

Real Estate Investment

  • A person holding up a house key. Tier 1 Investment: Invest €800,000 in high-demand areas such as Athens, Thessaloniki, Mykonos, or Santorini, with properties of at least 120 square meters.
  • Tier 2 Investment: Invest €400,000 in less populated areas of Greece with properties of at least 120 square meters.
  • Tier 3 Investment: Invest €250,000 in properties converted from commercial to residential use.
  • Tier 4 Investment: Invest €250,000 in properties of historical or cultural significance that have been restored.

The property cannot be rented out, subject to fines

Additional investment options

  • Capital Contribution: Invest €500,000 in Greek companies or funds focused on real estate or other sectors.
  • Shares, Corporate Bonds, or Government Bonds: Invest a minimum of €500,000 in Greek government bonds or €800,000 in shares or corporate bonds.
  • Capital Transfer: Transfer €500,000 to a Greek bank account for a fixed-term deposit of at least one year.

Malta Permanent Residence Program Investment Options

Applicants must choose one of the following real estate investment routes:

Property Rental Option: Rent a property for at least €14,000 per year (for a minimum of 5 years). Pay a €60,000 government contribution and donate €2,000 to a Maltese NGO.

Property Purchase Option: Buy a property worth at least €375,000 in Malta or Gozo (must be held for 5 years). Pay a €30,000 government contribution and donate €2,000 to a Maltese NGO.

The property cannot be rented out or sub-leased during the 5-year period.

Malta vs Greece Golden Visa Government Fees 

Different Golden Visas come with varying fees, here is what to expect from the Malta Permanent residence program and the Greece Golden Visa.

Malta residency by investment fees

  • Administrative fee: €50,000 (mandatory)
  • Additional Fee for Dependents: €10,000 per dependent (if added after approval)
  • Residence Card (Initial 5 Years): €137.50 per person
  • Residence Card (After 5 Years): €27.50 per person

Greece Golden Visa fees

  • Revenue Stamp: €16.00
  • Application fee (main applicant): €2,000
  • Application fee (each family member): €150 (children under 18 are exempt)
  • Residence permit processing fee per person: €16
  • Additional costs: Legal and notary fees, typically 8-10% of the total investment

Real Estate purchase fees:

  • Property Transfer Tax: Around 3.09% of the property’s value
  • Notary Public Fees: 1% to 1.5% of the property’s value
  • Land Registry Fee: Around 0.6% to 0.8% of the property’s value

Greece vs Malta Taxes

Feature

Greece Taxes

Malta Taxes

Income Tax

Progressive tax from 9% to 44% based on income level.

Progressive tax from 0% to 35% based on income level.

Corporate Income Tax

22% on company profits.

35% on company profits.

Social Security Contributions

Up to 40% of gross income, split between employee and employer.

Contributions based on income level, up to 10% for employees.

Value Added Tax (VAT)

Standard rate: 24%; reduced rates: 13% and 6%.

Standard rate: 18%; reduced rates: 5% and 7%.

Capital Gains Tax

15% for real estate (if sold within 5 years); 15% for shares; 5% on dividends.

12% for real estate; 35% for shares; 0% on foreign dividends.

Inheritance and Gift Tax

Rates range from 1% to 40%, depending on relationship.

Inheritance and gift tax rates range from 0% to 35%.

Property Tax

ENFIA tax from €0.25 to €13 per square meter.

Property tax applies only to property valued above €700,000.

Double Taxation Treaties

Numerous treaties with other countries to avoid double taxation.

Treaties with numerous countries to avoid double taxation.

Non-Domiciled Tax Regime

Offers favorable tax treatment on foreign income, with incentives for retirees.

Taxed only on income and capital gains brought into Malta; foreign income is exempt unless remitted. Residency required but not domiciled.

Checklist for Choosing the Right Golden Visa Program 

  • Investment Amount & Type: Decide how much you are willing to invest and whether you prefer real estate, business, or government bonds.
  • Tax Benefits: Check if the country taxes worldwide income or only local earnings.
  • Residency vs Citizenship Path: Decide what the ultimate goal is and look at how long it takes to get permanent residency or citizenship and if there are stay requirements.
  • Family Inclusion: Find out if you can include your spouse, children, parents, or grandparents in your application.
  • Lifestyle & Location: Consider the country’s climate, language, healthcare, and quality of life.
  • Processing Time & Requirements: Review how long the application takes and if there are any language or integration requirements.

Six Alternative European Golden Visa Programs

1. Portugal Golden Visa

The Portugal Golden Visa program allows investors to gain residency by making a qualifying investment, with a minimum of €250,000. Investment options include venture capital funds, capital transfers, contributions to scientific or cultural projects, and investments in businesses or research. This visa provides visa-free travel within the Schengen Area. After five years of residency, investors can apply for citizenship. The program is flexible with a minimal stay requirement, as investors only need to visit Portugal for an average of seven days per year to maintain their visa.

2. Italy Golden Visa

Italy Golden Visa, also known as the Italy Investor Visa, grants residency to non-EU investors who make significant investments in the country. Options include €250,000 in an Italian startup, €500,000 in government bonds or €1 million in a business or real estate project. The visa lasts for two years and can be renewed. Investors can apply for citizenship after ten years of residency. There is no minimum stay requirement, but spending time in Italy each year is encouraged. The visa offers flexibility, allowing investors to choose from vibrant cities or peaceful rural areas.

3. Cyprus Golden Visa

The Cyprus Golden Visa grants permanent residency to investors and their families without requiring them to live in the country. To qualify, investors must make a minimum investment of €300,000 in real estate, a business, or financial assets. The visa allows free travel within the EU. Applications are processed within approximately three months, and while Cyprus offers a path to citizenship, it requires seven years of residency and additional criteria beyond the Golden Visa program.

4. Latvia Golden Visa

Latvia’s Golden Visa program provides residency for non-EU investors through flexible investment options. Applicants can invest a minimum of €250,000 in real estate, €50,000 in a Latvian business that creates at least one local job, or €280,000 in Latvian bank deposits or government bonds. The program is fast, with processing times ranging from 2 to 3 months. Investors and their families can enjoy visa-free access to the Schengen Zone. Latvia offers a straightforward route to residency, and its competitive processing times make it appealing for those seeking quick approval.

5. Hungary Golden Visa

Hungary’s Golden Visa, also known as the Guest Investor Program (GIP), offers non-EU investors the opportunity to obtain a renewable 10-year residence permit with visa-free travel within the Schengen Zone. Investors can include their spouses, children, and dependent parents in the application. To qualify, investors must invest €250,000 in a state-approved real estate fund or make a €1 million donation to a Hungarian university for research or the arts. After eight years of legal residency, applicants may be eligible for Hungarian citizenship.

6. Serbia Residency by Investment

Serbia’s residency by investment program allows investors to live and work in the country, with the option to include family members in the application. Residency permits last up to three years and can be renewed. After three years, investors can apply for permanent residency, and after six years, they may be eligible for citizenship. Serbia also offers low taxes and is centrally located in Europe, making it an attractive option for investors looking for an alternative or backup residency.

As part of our commitment to providing transparent and reliable services, we are proud to be a licensed agent in Malta, holding the official license number AKM-AGEN. This certification demonstrates our dedication to the highest standards in the investment migration industry and further enhances our ability to offer expert guidance and support to our clients.

How Can Global Citizen Solutions Help You?

Global Citizen Solutions is a boutique migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments. 

We guide you from start to finish, taking you beyond your citizenship or residency by investment application. 

Frequently Asked Questions about the Malta vs Greece Golden Visa

What is the Malta Golden Visa?

The Malta Golden Visa, officially known as the Malta Permanent Residence Programme, allows non-EU investors to obtain permanent residency by making qualifying investments, such as purchasing real estate or making contributions to the government. The program offers visa-free travel within the Schengen Area and can include adult children up to 29 years of age.

What is the Greece Golden Visa?

The Greece Golden Visa grants permanent residency to non-EU investors and their families in exchange for qualifying investments, such as real estate. This residency allows access to the Schengen Area and provides a pathway to long-term residency in Greece and citizenship.

How are the Malta and Greece Golden Visas similar?

Both programs offer permanent residency through investment, provide visa-free access to the Schengen Area, and allow investors to include family members. Both also feature real estate investment options as a key pathway to obtaining residency and neither have a minimum stay requirement.

What are the main differences between the Malta and Greece Golden Visa programs?

While both programs are similar, key differences include investment amounts, processing times, government fees, and additional requirements. Malta generally requires higher investment levels and quicker processing, while Greece offers more flexible investment options and longer residency requirements for citizenship.

What are the investment requirements for the Malta Golden Visa?

The Malta Permanent Residence Program (MPRP) requires a government contribution of €30,000 if purchasing property or €60,000 if renting. Applicants must also donate €2,000 to a Maltese NGO and maintain a qualifying property, either buying property worth for at least €375,000 or renting for at least €14,000 per year.

What are the investment requirements for the Greece Golden Visa?

The Greece Golden Visa primarily requires a real estate investment of at least €250,000, or €800,000 in high-demand areas like Athens, Thessaloniki, Mykonos, and Santorini. Other options include investing €400,000 in government bonds or business shares.

Is there a minimum stay requirement for the Malta Golden Visa?

The Malta Golden Visa has no minimum stay requirement but does require an address in Malta to continue renewing the residence permit.