Legal

Portuguese vs. Greek Golden Visa: The Two Best Golden Visa Programs in Europe

The Portuguese and Greek Golden Visas have become two of the world’s most popular investment migration programs and the most popular investment visa options for people looking to move to Europe.

Both programs have gained a lot of traction, primarily due to their relatively affordable real estate investment options, great weather all year round, and flexible residency requirements.

Golden Visa to Portugal has been around since 2012 and has seen thousands of successful applications since then.

with it becoming the most established Golden Visa available, boasting a lot of success among retirees in particular.

The Greek Golden Visa, established in 2013 however, didn’t see so much popularity in its early years.

but it has since picked up a lot of interest and was even Europe’s largest Golden program in 2021 with 1,035 approvals.

Both are great options for immigrating to Europe with any immediate family, and aside from whether you prefer the stunning Greek islands to the jaw-dropping coast of Portugal’s Algarve, both programs come with key differences that are worth considering.

Minimum Investment and Options

Overall, the Greek Golden Visa boasts the most affordable option out of the two programs, but the Portuguese Golden Visa has way more options for investors to consider overall.

The route that both programs have in common, as well as being the most popular investment route in general, is through the purchasing of local real estate.

However, there are other investment paths with varying investment thresholds, such as capital contribution, investment in funds, or job creation.

For the Greek Golden Visa, the program with the fewer options, you can either:

Invest in at least €250,000 worth of real estate. Note that the Prime minister of Greece announced in September, that the minimum amount will be doubled to €500,000. No steps have been taken in terms of policy implementation so far, but the estimated time of change is probably the first half of 2023.
Make a capital contribution of €400,000. At the moment it’s unclear if this amount will also change.

Compare this to the Portuguese Golden visa, with more options but also at a higher threshold:

Invest in at least €500,000 worth of real estate*
Invest in at least €350,000 worth of real estate if you are rehabilitating a 30+-year-old property (or property located in an Urban Regeneration Area)
Invest in at least €400,000 worth of real estate in a low-density area (€280,000 if that property also counts as needing rehabilitation)
Invest at least €500,000 in investment funds
Capital contribution of €1,500,000
Invest at least €500,000, to incorporate or increase the share capital of a company registered in Portugal, creating at least five full-time jobs, for a period of three years.
Invest at least €500,000 in research and development carried out by public or private scientific research institutions, as part of Portugal’s national scientific and technological system.
Invest at least €250,000 in support of national heritage, arts, and culture.

*One additional thing to bear in mind is that residential real estate investment in Portugal is limited to certain interior regions, excluding Lisbon, Porto, and most of the Algarve. With real estate investment in Greece, there are no such limitations.

Residency

Both programs offer visa-free travel within the European Schengen Area, as well as the right to live in their respective countries.

One major caveat to the Greek Golden, and potentially a deal breaker for many people, is that it doesn’t give you the right to work in Greece, unlike Portugal, which will allow you and your family members to take up local employment.

So, perhaps this makes the Greek Golden Visa more suitable for retirees without dependents.

While it stops you from taking up local employment, there is nothing against starting or operating an independent business in Greece, so this is also an option.

In order to keep your residency, you will need to spend at least seven days per year on average in Portugal, whereas there are no stay requirements at all for Greece.

Note that this is only for maintaining residency in the country.

Citizenship can come with much greater expectations regarding how long you stay in the country – as you will see in the next section.

Finally, most of your immediate family will be able to join you in applying for the Golden Visa both in Portugal and in Greece, with slightly more family members qualifying in Greece:

For the Portuguese Golden Visa, your spouse, dependent children, and dependent parents can join you.
For the Greek Golden Visa, your spouse, dependent children, parents, and parents-in-law can join you.

Citizenship

With Citizenship, Portugal is by far more lenient than Greece and also has a better passport with visa-free travel to 186 countries (compared to 171 countries with Greece).

For Portuguese citizenship, you will need to be a resident for a total of five years, spending at least seven days per year on average in Portugal – the same as the minimum stay requirements for residency.

For Greek citizenship, though, you will need to be a resident for a total of seven years, and you will need to have spent at least 183 days per year in Greece within that time.

In other words, Greece requires a lot more ties to the country in order to successfully gain citizenship.

Both countries will require a language exam (plus a citizenship test for Greece), so regardless of where you go, you will need to learn the language if citizenship is your goal.

Portuguese is probably easier to learn for most people compared to Greek as well since it has more similarities with other languages, as well as simpler grammar and uses the Latin alphabet.

Taxes

Both programs offer a tax incentive program for foreign residents.

Portugal’s NHR (non-habitual residency) scheme is one of the most competitive tax schemes for foreigners in Europe and allows several tax exemptions and more favorable rates for the first ten years.

Greece has a similar program where foreigners only pay a flat 7% rate for the first ten years (bear in mind again, though, that you cannot take up local work with the Greek Golden Visa).

Aside from these special incentives, usual income taxes in Portugal can be between 14.5% and 45%, whereas Greek income tax rates can be between 9% and 44%, so relatively similar and progressive taxation in both countries.

One noteworthy thing to consider is that Portugal has no gift tax or inheritance tax, whereas, in Greece, you will pay anything between 10% and 40% depending on your relationship with the person.

Application costs, renewal, and general bureaucracy

The cost of applying for the Portuguese Golden Visa is much higher than the Greek Golden Visa.

Due to its ever-growing popularity, the Portuguese government keeps increasing the fees.

For Portugal, you will need to pay:

An application fee of €539.66 per person, plus a residence permit fee of €5,391.56, also per person.
A fee of €2,696.29 per person for each renewal. You would need to do two renewals to get permanent residency or citizenship, as each permit is valid for two years.

This means a total of €12,403.12 per person to reach citizenship or permanent residency (initial application plus two renewals)

For Greece, you will need to pay:

A €2,000 application fee for the main applicant, plus €500 per family member over 21 and 150 euros per family member under 21.
The same again for each renewal, although each initial permit is valid for five years, so you would only need to do one renewal.

This means a total of €4,000 for the principal applicant and either €300 or €1000 per family member, depending on age, to reach citizenship or permanent residency (application plus one renewal).

Both countries have their fair share of bureaucracy involved in the applications.

Yet, it is easier to find information about the Portuguese Golden Visa due to being more popular.

It will be easier to find lawyers who know about the program at length and fulfill needs such as opening up a local bank account remotely and getting a tax number.

That said, processing times tend to be longer for Portugal than for Greece. Normally, you can expect your application to be processed in 6-12 months for Portugal and 3-6 months for Greece.

Of course, many things can impact this, and times can vary significantly.

For example, Covid-19 had an impact on the processing times for both countries.

Conclusion

Both programs have seen ever-growing numbers and still remain attractive options for people who wish to settle in Europe’s Schengen area. While they are both great investment migration options, they are not suited to everyone with key pros and cons.

To summarize, Portugal’s Golden Visa has shorter stay requirements for citizenship and more investment options, although there are higher fees and higher investment thresholds to reach in order to qualify.

Greece’s Golden Visa, on the other hand, has lower investment thresholds (although it’s about to change soon) and application fees, faster processing times, and allows more family members the chance to join you.

That said, you cannot legally take up any work in Greece during that time and require spending at least 183 days per year in Greece in order to reach permanent residency or citizenship later down the road.

Whichever path seems more attractive to you, Nomad Gate can offer plenty more information on both options and how to get started with your application.

We also have numerous forum threads where our readers express their own experiences with Golden Visa programs, as well as other topics related to living a global lifestyle.

Visit us to find out more about these topics, and feel free to reach out with any questions you may have.

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Legal

Thai Court Amends Law to Allows Wives to Sue Husband’s Lovers

Thailand's Constitutional Court Allows Wives to Sue Husband's Lovers

Angry Thai Wife: File Image

Thailand’s Constitutional Court has changed the Civil Code will allow women to sue their husbands’ lovers, male or female. The Constitutional Court found on Tuesday that Section 1523 of the Civil Code breached Section 27 of the constitution, which safeguards Thais’ rights and liberties regardless of gender.

The court directed that the verdict be enforced within 360 days.

Section 1523 of the Civil Code states that husbands can sue their wives’ lovers, and wives can sue other women who publicly display an adulterous connection with their husband.

Keirov Kritteeranon, secretary-general of the Office of the Ombudsman, stated that the Ombudsman had previously urged the court to rule on the legality of Section 1523, which allowed wives to suit only female lovers.

Husbands can now sue their wives’ boyfriends regardless of gender, and there was no requirement for any public declaration of an adulterous connection, he claimed.

Once enforced, Tuesday’s Constitutional Court order, according to the Ombudsman, will correct this imbalance.

Thailand Amends Marriage Law

Meanwhile, Thailand is set to become the first Southeast Asian country to recognise same-sex marriage, after its marriage equality law was passed in the Upper House on Tuesday and is now on its approach to being promulgated before going into effect in the coming months.

LGBTQ+ advocates rejoiced as the Senate voted 130-4 to pass the bill on its final reading, with 18 abstentions. They hailed the development as a win in their long struggle for equal rights.

When the advocates who had gathered at parliament on Tuesday to witness the Senate’s final reading and vote on the measure heard the outcome, they burst out in cheers.

They next went to authorities House, where the authorities had planned a celebratory reception for them later in the day. They then went to the Bangkok Art and Culture Centre, where the party lasted until late at night.

Prime Minister Srettha Thavisin, who is on sick leave due to Covid-19, congratulated them via Zoom call from Government House.

The new law will allow any two people aged 18 or older to register their marriage and obtain the same advantages and rights as heterosexual couples. The bill refers to married couples as “two individuals” rather than “a man and a woman,” and changes their legal status from “husband and wife” to “spouses.”

LGBTQ+ people from any country can legally marry in Thailand. When the bill goes into force, foreign same-sex married partners will be eligible for a spousal visa.

The law will be sent to the government for approval before being presented to the monarch.

It will take effect within 120 days of its publication in the Royal Gazette, making Thailand the third Asian country to accept same-sex marriages after Nepal and Taiwan.

Senator Kamnoon Sidhisamarn, spokesman for the Senate’s special committee evaluating the proposed law, called it a victory for equal rights campaigners.

“There is no reason for the Upper House to disagree with the judgement made by the House of Representatives,” he told reporters. He was referring to the legislation’s passage in the Lower House prior to its submission to the Senate for approval.

The battle for same-sex marriage legislation began 23 years ago. Tunyawaj Kamolwongwat, a Move Forward Party list-MP, said that the law’s passage on Tuesday signified the beginning of a new chapter in Thai history.

Source: Bangkok Post

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Legal

Thailand’s Senate Passes Landmark Marriage Equity Bill Legalizing Gay Marriage

Thailand’s Senate has approved a long awaited marriage equality bill on Tuesday, making the country the third Asian country to accept same-sex couples. The Senate approved the law 130-4 with 18 abstentions.

The marriage equality bill will be sent the palace for royal clearance. The marriage equality law takes 120 days to take effect after Royal Gazette publication.

LGBTQ+ advocates welcomed the proposal a “monumental step forward” because Thailand would be the first Southeast Asian country to legalise marriage equality. Thailand is popular with travellers due to its LGBTQ+ culture and tolerance.

“This would underscore Thailand’s leadership in the region in promoting human rights and gender equality,” the Civil Society Commission of marriage equality, activists, and LGBTI+ couples said.

Prime Minister Srettha Thavisin, who wore a rainbow shirt to commemorate Pride Month, joined thousands of LGBTQ+ revellers and activists in a Bangkok parade at the start of June.

The prime minister will open Government House to commemorate the bill’s passage. Pride supporters will march from Parliament to the prime minister’s office. Mr. Srettha, who has Covid-19, will join them online after taking several days off.

Deputy Prime Minister and Commerce Minister Phumtham Wechayachai anticipates June’s Pride Month to create approximately 4.5 billion baht in economic cash flow.

Marriage Equity Bill

Pride Month in Thailand

On Saturday, Mr. Phumtham said the government under Prime Minister Srettha Thavisin is encouraging sexual diversity and working with the commercial sector to plan more Pride Month festivities to attract LGBTQ+ tourists.

He claimed it will increase the country’s trade potential by giving SMEs business expansion chances and adding soft power value.

Mr. Phumtham claimed Poonpong Naiyanapakorn, director-general of the Trade Policy and Strategy Office, told him Pride Month celebrations will make Thailand a “pride-friendly destination” for LGBTQ+ Thai and global consumers.

This would help the country become a regional tourism hub under the government’s “Ignite Tourism Thailand” initiative to enhance tourism in 55 “worth visiting” provinces.

He added that such festivals will support downstream industries like event planners, food and beverage companies, hotels, and transport services and disperse cash to local areas. Mr. Phumtham stated Thailand’s Pride Month began in 1999. Bangkok, Chiang Mai, Phuket, and Chon Buri host parades, festivities, and campaigns.

The Tourism Authority of Thailand (TAT) expects approximately 860,000 people to attend this year’s festival and contribute at least 4.5 billion baht for the economy. LGBT Capital estimates that the world’s LGBTQ+ population has US$4.7 trillion in purchasing power and Thailand’s sexually varied population has US$26 billion.

LGBTQ+ rights in Thailand are improving, but there’s still much to do. The LGBTQ+ community in Thailand is notably strong in Bangkok and Pattaya.

Strong legal recognition allows transgender people to change their names and titles. Many LGBTQ+ couples lack legal rights since same-sex marriage is banned.

Marriage Equity Bill

LGBTQ+ rights in Thailand

Thailand is becoming more accepting despite these difficulties. LGBTQ+ rights are gaining favour. Activists want legal changes to guarantee equality.

Pride parades are becoming increasingly visible, demonstrating diverse acceptance. While challenges remain, LGBTQ+ rights in Thailand are improving as awareness and acceptance expand.

Legal

Protecting Your Designs: Intellectual Property Rights in the Jewelry Manufacturing Industry

Intellectual Property jewellery

The jewelry manufacturing industry is a vibrant and highly competitive sector where creativity and innovation are paramount. Designers invest significant time, effort, and resources into crafting unique pieces that appeal to consumers’ tastes and preferences. However, this industry faces a persistent challenge: the protection of original designs from imitation and unauthorized use.

Intellectual property rights (IPR) play a crucial role in safeguarding jewellery designs, ensuring that creators receive recognition and financial benefits from their work. This article delves into the various forms of intellectual property rights pertinent to the jewelry manufacturing industry and offers insights on how designers can protect their creations.

Understanding Intellectual Property Rights

Intellectual property rights are legal mechanisms that grant creators exclusive rights to their inventions, designs, and artistic works. These rights encourage innovation by providing creators with the means to control the use of their creations and to benefit financially from them. In the context of jewelry design, the most relevant forms of IPR are copyrights, trademarks, patents, and design rights.

Copyrights

Copyright protection extends to original works of authorship, including artistic creations such as jewelry designs. Under copyright law, the designer of a piece of jewelry automatically acquires the exclusive right to reproduce, distribute, and display the design upon its creation. This protection does not require registration, although registering the copyright with the appropriate governmental body, such as the U.S. Copyright Office, can provide additional legal benefits and evidence of ownership.

For jewelry designers, copyright protects the aesthetic aspects of a piece, such as the specific design, patterns, and artistic expressions. However, it does not cover the functional elements or the materials used. The duration of copyright protection varies by country, but it typically lasts for the life of the creator plus an additional 50 to 70 years.

Trademarks

Trademarks protect symbols, names, logos, and slogans that distinguish goods and services in the marketplace. For jewelry manufacturers, a trademark can cover the brand name, logo, or even a unique product line name.

Registering a trademark with the appropriate authority, such as the United States Patent and Trademark Office (USPTO), provides nationwide protection and the exclusive right to use the mark in connection with the specified goods or services.

A strong trademark helps consumers identify and differentiate a brand’s products from those of competitors, fostering brand loyalty and reducing the risk of confusion in the marketplace. It also provides legal recourse against counterfeiting and unauthorised use of the brand’s identity.

Patents

Patents protect new inventions and technical innovations. In the jewelry industry, this could include innovative manufacturing processes, unique mechanisms for adjustable or interchangeable jewelry, or novel materials and techniques. A patent grants the inventor the exclusive right to use, make, and sell the invention for a limited period, usually 20 years from the filing date of the patent application.

Obtaining a patent involves a rigorous process of proving that the invention is novel, non-obvious, and useful. For jewelry designers, the primary benefit of patent protection lies in safeguarding their innovative techniques and mechanical features, which can provide a competitive edge in the market.

Design Rights

Design rights specifically protect the visual appearance of a product, including its shape, configuration, pattern, and ornamentation. These rights are particularly relevant to the jewelry industry, where the aesthetic appeal of a product is a key selling point. In many jurisdictions, design rights must be registered to be enforceable, though some countries offer unregistered design rights that provide limited protection.

Registering a design right involves submitting detailed representations of the design to the relevant authority, such as the European Union Intellectual Property Office (EUIPO) for protection within the EU. Registered design rights typically offer protection for up to 25 years, subject to renewal fees.

Steps to Protect Jewelry Designs

Document Your Designs: Maintain detailed records of your design process, including sketches, prototypes, and finished pieces. This documentation can serve as evidence of originality and ownership in case of disputes.
Conduct Searches: Before launching a new design, conduct thorough searches to ensure it does not infringe on existing intellectual property. This can prevent legal issues and costly disputes.
Register Your IP: Where applicable, register your copyrights, trademarks, patents, and design rights with the appropriate authorities. Registration enhances protection and provides legal advantages in enforcing your rights.
Use NDAs and Contracts: When working with manufacturers, suppliers, and collaborators, use non-disclosure agreements (NDAs) and detailed contracts to protect your designs and outline the terms of use. ( Check out EJ: A Jewelry Manufacturer with NDA’s.
Monitor the Market: Regularly monitor the market for potential infringements. This can involve online searches, attending trade shows, and staying informed about competitors’ activities.
Take Legal Action if Necessary: If you discover an infringement, take prompt legal action to enforce your rights. This may involve sending cease-and-desist letters, pursuing litigation, or seeking alternative dispute resolution methods.

Challenges and Considerations

While intellectual property rights offer significant protection, there are challenges and limitations to consider. The cost and complexity of obtaining and enforcing IPR can be prohibitive, especially for small designers and startups. Additionally, the global nature of the jewelry market means that protections obtained in one jurisdiction may not be recognized elsewhere, necessitating international strategies for comprehensive protection.

Moreover, the fast-paced nature of fashion and jewelry trends can make lengthy registration processes impractical for certain designs. In such cases, relying on unregistered design rights or focusing on brand protection through trademarks may be more viable strategies.

Conclusion

Intellectual property rights are a vital tool for protecting the creativity and innovation that drive the jewelry manufacturing industry. By understanding and strategically utilizing copyrights, trademarks, patents, and design rights, designers can safeguard their creations, enhance their competitive edge, and ensure they reap the financial rewards of their ingenuity. As the industry continues to evolve, staying informed about IPR and adapting to emerging challenges will be crucial for sustaining success in the dynamic world of jewelry design.