Portugal VS Greece Golden Visa (Which is Better?)

Рет қаралды 2,013

Күн бұрын

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Today we are comparing 2 popular European Golden Visa programs: Portugal and Greece.
We are comparing eligibility criteria, the investment amount, processing time, obligatory physical residency time in the country and the ability to obtain the citizenship at the end of the road.
Portugal golden visa may be the most popular golden visa in the world at the moment, and for a good reason. This golden visa is very lucrative, gives the ability to live and work anywhere within the European Union and the best part is that you can obtain European citizenship after certain period of time.
Greece Golden visa is less talked about, but it offers a lot of similar perks. The only downside is that the path toward Greek citizenship is questionable.
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Пікірлер: 32

@ozziwar 16 сағат бұрын

Another great video! Would love a video about the management and control rules in the UAE and the common misconceptions about it.

@torontovoice1 Күн бұрын

That was a pretty good analysis. I was going to add one other footnote. Learning Portuguese is considered a level of one language in other words easier to learn. Greek on the other hand is a level four language, one of the most difficult to learn. And of course many people already speak one Latin language already such as French in my case, so it would be even easier to learn Portuguese because the roots of all the words are essentially the same, Latin based.

@marxamillion5576 Күн бұрын

Where might I get a list of these rankings please?

@BobKnight-mm2ze Күн бұрын

Just my personal experience. 3 years ago before Portugal canceled the NHR I started planning for a move, even got a lawyer, and started working on the language. Not easy. For ME, as an English speaking native. There are a many, many factors. On the other hand, Brazilian PT doesn't come as hard. But European PT presented the same hurdle I had with French. I've been studying French for 2 years, when I could see Portugal was having demonstrations against expats and killed the NHR, AND the price increase, AND the backlog of cases, so I decided on France (once I found a low tax way to go). So earlier this year Michael said Cyprus came out with a new plan, great. Ok, let's try Greek. I won't say it's "no problem," but its easier to ME. I can see see how Portuguese, French and even Spanish have...a romance language core that makes a speaker of one able to digest the other. But in my opinion native English speakers digest Germanic languages WAY easier (except Spanish). But for whatever reason I'm having no trouble with Greek so far, these last 3 months. Even the alphabet. For me the consistency of French words you hear ("wind," "twenty," "stomach" and "wine" all sound the same to an English speaker) and pronunciation difficulty of French and Portuguese both took me like 2 years to overcome.

@tinglestingles 18 сағат бұрын

The Portuguese government provides free language lessons to new residence. An A2 certificate is provided on acceptable completion of the 9 month long course - 3 hours x twice a week approx. This is in Setubal - I do not know if this is the same every where in Portugal.

@torontovoice1 13 сағат бұрын

@@tinglestingles Great idea!

@Justin-wk5mi Күн бұрын

Great comparison Michael

@tinglestingles Күн бұрын

I would say Portuguese bureaucracy is just the same as Greek. Both glacial in speed and (in)action.

@AlexBosy Күн бұрын

Hey, do you have offshore citizen community to connect with other 5 flag theorists?:)

@judgegroovyman Күн бұрын

If not thats a great idea

@abrahamlevi3556 Күн бұрын

CRS killed the five flag (originally three flag) coined by G.W. Hill. It died around 2014 when banks had started asking questions about proof income tax filing and residency for tax purposes. The three flag theory whereby one holds a bank account offshore and lives in a country other than his citizenship and runs a business elsewhere had indeed worked. I am a living example, but the turning point came around 2013. Banks started to demand proof of income tax filing. There was a narrow window of opportunity to make good on minor infringements, but it all ended in 2016. Now CRS make people comply, so practically one must be domiciled for tax purposes at any given time in order to comply, and if he fails to comply, the banks will close his account and leave him with a cashier check. Some jurisdictions still offer a territorial tax regime, but their numbers dwindle. I took the advance of that window of opportunity to sort things out before it shut down altogether. By the way there no such a community.

@matthewnirenberg 22 сағат бұрын

@@abrahamlevi3556 Isn't the simple solution to live say (as an example) in Monaco primarily, have a bank account there, be tax resident, have a house there, always return there after each holiday, but spend some time overseas (as a holiday of 1.5 months max) but then return there? Still technically flag theory but still maintains your tax residency - there's nothing saying you're limited on having holidays throughout the year. If you genuinely live in a 0% PIT country, the banks simply ask where you live and file taxes and that's it - at most they'll get you to give your tax file number (yes 0% PIT countries give you a number to give the banks). Its only when people are in high tax tax systems and multiple tax systems that issues arise. CRS might have made things change a bit, but it hasn't killed flag theory. All its done is stop people pretending they live in a 0% PIT country when they actually don't. Live in a 0% PIT country genuinely and it still works. Also, you're describing US banks as literally no other countries banks demand "proof of income tax filing" as they only ask where you live and what your tax file number is. Even Australia, New Zealand and Canada don't ask about "proof of income tax filing".

@chamamemestre Күн бұрын

Portugal does not issue Golden Visas anymore so...Greece would be best by default.

@pures1n Күн бұрын

They do.

@daled1 Күн бұрын

You mentioned one could do the golden visa in portugal/greece, spend only a few weeks there and spend the rest of the time in dubai for example and not pay tax to portugal. Could you spend time in other schengen countries instead of dubai and not pay tax to portugal?

@OffshoreCitizen Күн бұрын

You can spend your time anywhere you want, but you may trigger a tax residency in another EU country if you spend too much time there

@tw9419 Күн бұрын

Inability to get the citizenship wouldn’t make it worth it to get a Greek golden visa in my opinion. To each their own I guess, but I would choose Portugal.

@tinglestingles Күн бұрын

Be prepared for the bureaucracy in Portugal. It took my wife 6 visits to IMI - to convert her driving license to a Portuguese one.

@tinglestingles Күн бұрын

I am currently unable to get my residency renewal due to AIMA (Immigration dept) being unable to process due to the 450,000 (and growing) application backlog. The employees are 'working to rule' - no overtime and they are unable to employ the extra 300 officers required to clear the backlog. It is a bit of a mess. People here are very friendly wine is cheap and 300 plus days of sunshine. It is a little boring. We are leaving for South East Asia in 2025.

@tw9419 Күн бұрын

@@tinglestingles That’s actually crazy! Sorry to hear. Bureaucracy in Europe seems to be absolutely horrible in most countries 😭

@tinglestingles Күн бұрын

@@tw9419 Technically, I'm an 'illegal' but no one is bothered as they've extended the residency deadline to June 2025. Apparently, politicians are saying that the back log will be cleared by then. No one has ever completed anything by 'a deadline' ! We wait to see.