Hungary vs Greece Golden Visa: Comparing Two EUR 250,000 Routes (2026)
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Hungary vs Greece Golden Visa: Comparing Two EUR 250,000 Routes (2026)
The Hungary vs Greece golden visa comparison is usually framed as two identical EUR 250,000 tickets into Europe. It is not. Hungary’s EUR 250,000 buys units in a registered investment fund. Greece’s EUR 250,000 buys real estate, and since Law 5100/2024 that figure survives in only two special property categories, while mainstream residential purchases now start at EUR 400,000 and rise to EUR 800,000 in the highest-demand zones. Getting that distinction right is the whole comparison.
On this page
- Hungary vs Greece golden visa at a glance
- The two EUR 250,000 entry points are not the same thing
- Greece’s zone system under Law 5100/2024
- Permit type, renewal and physical presence
- Path to permanent residency and citizenship
- Family scope and processing times
- Which route fits which investor
- Frequently asked questions
This guide is general information about the Hungarian Guest Investor Programme and the Greece Golden Visa and is not legal, tax or immigration advice. Programme rules, thresholds and zone classifications can change and can depend on individual circumstances. Obtain independent professional advice before making any application or investment decision.
Hungary vs Greece golden visa at a glance
| Feature | Hungary (Guest Investor Residence Permit) | Greece (Golden Visa) |
|---|---|---|
| Asset acquired | Units in a registered investment fund | Real estate, held in your own name |
| Minimum investment | EUR 250,000 fund, or EUR 1,000,000 donation | EUR 250,000 special tiers, EUR 400,000 or EUR 800,000 by zone |
| Property purchase route | None. Abolished 1 January 2025 | The core route |
| Permit duration | 10 years, renewable for a further 10 | 5 years, renewable while the investment is held |
| Minimum stay | None to obtain or renew | None to obtain or renew |
| Permanent residency | Possible after 3 years, with genuine residence | After 5 years, with genuine residence |
| Citizenship | Standard naturalisation after 8 years | Naturalisation after 7 years, with real integration |
| Family scope | Spouse, children up to 25, parents of the main applicant | Spouse, dependent children, parents of both spouses |
| Rental use of the asset | Not applicable | Short-term letting of the qualifying property is prohibited |
| Schengen | Yes | Yes |
The two EUR 250,000 entry points are not the same thing
Hungary: EUR 250,000 into an MNB-registered fund
Hungary’s Guest Investor Residence Permit is granted on a subscription of at least EUR 250,000 into a real estate fund registered with the Hungarian central bank (MNB). Under Act XC of 2023 and its implementing Government Decree 35/2024 (II. 29.), a qualifying fund must hold at least 40% of its assets in Hungarian residential property. You do not own a specific flat or house. You own units in a regulated collective vehicle, which means diversification, professional management, an administratively simple subscription, and no landlord role. It also means your capital is exposed to the fund’s performance and liquidity terms rather than to a single address you chose yourself. The alternative route is a EUR 1,000,000 donation to a public-interest trust, which is non-refundable. Hungary’s own direct property-purchase route was abolished on 1 January 2025. For how the fund route works, see our guide to the Hungary golden visa real estate fund route.
Greece: EUR 250,000 only for conversion or restoration properties
Greece’s EUR 250,000 is a real estate figure, and since the 2024 reform it applies to only two narrow categories. The first is a property converted from commercial to residential use, with the conversion completed before the application. The second is a building of historical or cultural value that requires full restoration. Both are genuine routes, and both carry execution risk that a straightforward apartment purchase does not: planning, contractor performance, budget overruns and timing. On the restoration tier in particular, the restoration must be completed before the first renewal, and failure carries a substantial fine exposure reported at EUR 150,000. These are project investments, not passive purchases.
Greece’s zone system under Law 5100/2024
EUR 800,000 and EUR 400,000 zones explained
Law 5100/2024 has applied in full since 1 September 2024. It replaced Greece’s flat national threshold with a zoned structure. In the highest-demand areas, which include Attica, Thessaloniki, Mykonos, Santorini and the more populous islands, the minimum qualifying property investment is EUR 800,000. In the rest of the country it is EUR 400,000. In both cases the property must meet a minimum size requirement of 120 square metres. A separate rule limits the qualifying investment to a single property, with a spousal co-ownership nuance clarified in the 2026 circular. In other words, the threshold has to be met by one qualifying property rather than assembled from several smaller ones.
The practical consequence is that anyone comparing “Greece at EUR 250,000” against Hungary is, in most cases, comparing the wrong number. If the intention is to buy an apartment in Athens, the relevant figure is EUR 800,000.
The special EUR 250,000 tiers and their conditions
| Greek route | Threshold | Key conditions |
|---|---|---|
| High-demand zones (Attica, Thessaloniki, Mykonos, Santorini and larger islands) | EUR 800,000 | Minimum 120 square metres, single qualifying property |
| Rest of Greece | EUR 400,000 | Minimum 120 square metres, single qualifying property |
| Commercial-to-residential conversion | EUR 250,000 | Conversion completed before application |
| Restoration of a listed or heritage building | EUR 250,000 | Restoration completed before the first renewal, with material fine exposure if missed |
All thresholds, zone classifications and conditions should be verified against the Ministry of Migration and Asylum and the published text of the law at the point of application, because zone boundaries and clarifying circulars are updated.
The short-term rental ban on golden visa properties
Greek law prohibits short-term rental of a property acquired for golden visa purposes. Listing it on a short-stay platform puts the permit at risk and carries an administrative penalty. This matters more than it first appears: for many investors, the yield case for a Greek island or central Athens property rested on short-stay income. That option is closed for qualifying properties, so the investment should be underwritten on long-term letting or capital appreciation, and the current letting rules confirmed with Greek counsel before purchase.
Permit type, renewal and physical presence
Hungary: 10-year permit, no minimum stay to obtain or renew
Hungary issues one permit that runs for ten years and is renewable for a further ten. That is the longest single term in the European field, and it removes the renewal cycle almost entirely. There is no minimum stay requirement to obtain or renew it, and it carries the right to live, work and run a business in Hungary without a separate work permit. The application follows a fixed sequence: obtain the Guest Investor Visa, valid for up to six months, enter Hungary on it, and file the residence permit application through the Enter Hungary platform within 30 days of first entry. Budget in the region of five months end to end as a planning figure; the OIF’s stated administrative deadline for deciding the permit application itself is 21 days. For the full cost and eligibility picture, see our guide to Hungary golden visa cost and requirements.
Greece: 5-year renewable permit, no residence requirement
Greece issues a five-year residence permit that renews for further five-year periods for as long as the qualifying investment is maintained. There is no minimum stay requirement to obtain or renew it either. The practical difference is administrative rhythm: two renewal events in Hungary’s ten-year window would be one renewal event in Greece’s. Greek processing has also carried a substantial application backlog, and realistic timelines should be taken from the Ministry of Migration and Asylum or from clearly named professional reporting rather than from a generic guide.
Path to permanent residency and citizenship
Hungary: PR at 3 years, citizenship at 8 years naturalisation
Hungary allows permanent residency to be sought after three years, and citizenship through standard naturalisation after eight years of lawful residence, including a constitutional-basics examination in Hungarian. The point that must be read alongside the “no minimum stay” headline is this: the permit itself demands no presence, but both the three-year permanent residency route and the eight-year naturalisation route require genuine residence in Hungary, with limits on absences. Holding the permit from abroad does not accumulate that record. There is no citizenship-by-investment route in Hungary.
Greece: PR at 5 years, citizenship at 7 years with genuine integration
Greece allows permanent residency after five years and naturalisation after seven years of continuous residence. The Greek integration standard is demanding and explicit: sustained physical presence, a Greek language examination and tested knowledge of Greek history, geography and civics. For a globally mobile investor who does not intend to relocate to Greece, the Greek golden visa should be understood as a residence and mobility instrument, not a realistic citizenship pathway. Neither country sells citizenship.
Family scope and processing times
Hungary’s permit covers the main applicant, spouse, dependent children up to 25 and the applicant’s parents on a single qualifying investment, with procedural fees possible for some dependants. Greece’s scope is broader on one axis: it covers the spouse, dependent children and, distinctively, the dependent parents of both spouses, which brings three generations within a single investment.
On timing, Hungary’s roughly five-month end-to-end process is currently the more predictable of the two, because Greece’s volume of pending applications has produced extended waits even as the backlog reduces. Predictability is a genuine, if unglamorous, differentiator when a family is planning around school years or a business timetable.
Which route fits which investor
Choose Hungary if you want fund exposure rather than a building. The EUR 250,000 goes into a regulated, professionally managed vehicle with no maintenance, no tenants and no renovation risk. You get a ten-year permit and a five-month process. This suits investors who see the residency as the product and the investment as something that should be as boring as possible.
Choose Greece if you want to own the asset. A Greek property is yours, in your name, in a market and a location you selected, with lifestyle use attached. That is a real advantage, and no fund replicates it. The trade is that the honest entry price for a conventional purchase is EUR 400,000 or EUR 800,000 rather than EUR 250,000, the short-term rental yield route is closed, and the EUR 250,000 tiers come with conversion or restoration risk.
On price, be precise. Hungary is among the lowest entry points among the active EU programmes, level with Greece’s special-category tier and Portugal’s cultural route. Neither of them is uniquely the cheapest, and anyone claiming a single winner on price is comparing the wrong numbers. To see the full European field side by side, read our guide to the best golden visa countries in Europe, and for the Hungary and Malta comparison, our guide to Hungary vs Malta.
Frequently asked questions
Is the Greece golden visa still EUR 250,000?
Only in two special categories: converting a commercial property to residential use, or restoring a listed building. Mainstream residential purchases require EUR 800,000 in high-demand zones and EUR 400,000 elsewhere under Law 5100/2024.
Is Hungary’s golden visa cheaper than Greece’s?
At the headline level they are level, and both are level with Portugal’s cultural route. The difference is the asset: a Hungarian fund subscription versus a qualifying Greek property, where the realistic entry price for a conventional purchase is EUR 400,000 or EUR 800,000.
Which permit lasts longer?
Hungary issues a 10-year renewable permit. Greece issues a 5-year permit that renews for as long as the investment is held.
Do I have to live in Hungary or Greece?
Neither programme requires a minimum stay to obtain or keep the permit. Permanent residency and citizenship in both countries do require genuine residence.
Which reaches citizenship faster?
Greece’s naturalisation track is seven years with real integration requirements, including presence, a language test and a civics examination. Hungary’s is eight years of standard naturalisation with a constitutional-basics examination in Hungarian. Neither country sells citizenship.
Can I rent out a Greek golden visa property on a short-stay platform?
No. Short-term rental of a qualifying golden visa property is prohibited under Greek law and puts the permit at risk. Long-term letting rules should be verified with Greek counsel before purchase.
The bottom line
Hungary and Greece both advertise a EUR 250,000 door into Europe, but they open onto different things. Hungary’s is a fund subscription with a ten-year permit and a predictable five-month process. Greece’s is a property purchase where EUR 250,000 now means a conversion or a restoration project, and where a conventional apartment costs EUR 400,000 or EUR 800,000 depending on the zone. Choose by asset preference and by how much execution risk you want to carry, not by a headline number that no longer describes most Greek transactions. For the full programme detail on the Hungarian side, see our complete guide to the Hungarian Guest Investor Programme. Aegir Global advises HNW families and their professional advisors across both markets, and advisory fees are quoted per engagement.
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