Portugal vs Greece: Tax & Residency Comparison (2026)
We compare Portugal and Greece on taxes, cost of living, and residency requirements — plus a third option most people miss: Cyprus Non-Dom, with a ~5% effective tax rate.
Last updated: 2026-03-29
Quick Comparison: Portugal vs Greece vs Cyprus Non-Dom
| 🇵🇹 Portugal | 🇬🇷 Greece | 🇨🇾 Cyprus | |
|---|---|---|---|
| Corporate tax | 21% | 22% | 15% |
| Income tax | Up to 48% | Up to 44% | 0% (dividends) |
| Effective rate | ~25-30% | ~7-15% (non-dom) / ~35%+ (standard) | ~5% |
| Dividend tax | 28% | 5% | 0% income tax, 2.65% GHS only |
| Cost of living | Medium | Medium | Medium |
| EU member | Yes | Yes | Yes |
Interactive Tax Calculator
Countries compared
Portugal
Effective rate
28%
Est. tax: €28,000
Greece
Effective rate
11%
Est. tax: €11,000
Our recommendation
Cyprus (Non-Dom)
At ~5% effective rate, Cyprus saves you more than either country.
Effective rate
5%
Est. tax: €5,000
Annual savings vs Portugal
€23,000
Estimates based on effective rates. Consult a tax advisor for your specific situation.
Portugal vs Greece: Detailed Analysis
Two Mediterranean EU rivals competing for the same pool of expats and retirees. Portugal was the clear winner with NHR, but that ended in 2024. Greece introduced its own Non-Dom regime offering 7% flat tax on foreign-sourced income for new residents (minimum EUR 100K investment). For retirees and passive income holders, Greece 7% is very attractive. However, Greece standard rates go up to 44%, and the startup ecosystem is less developed than Portugal. Portugal has better infrastructure, a larger international community, and more developed digital nomad scene. Both are in the EU with Schengen access.
Pros and Cons
🇵🇹 Portugal
Pros
- +EU membership and Schengen access
- +Golden Visa program (reformed 2023)
- +High quality of life, mild climate
- +Growing tech and startup ecosystem
Cons
- -NHR regime ended for new applicants (2024)
- -Standard income tax rates up to 48%
- -High social security contributions (~34%)
- -Dividend withholding tax at 28%
🇬🇷 Greece
Pros
- +Non-dom flat tax of EUR 100K for HNWIs
- +7% flat tax on foreign pensions
- +EU membership, Mediterranean lifestyle
- +Golden Visa program
Cons
- -Non-dom requires EUR 100K minimum tax payment
- -Standard tax rates very high
- -Economic instability history
- -Complex bureaucracy
Our Verdict
Both are Mediterranean EU countries with similar lifestyles. Greece still has a flat 7% tax on foreign pensions and investment income for new residents. Portugal ended NHR.
The Alternative Most People Miss: Cyprus
Cyprus Non-Dom at ~5% beats Greece 7% flat tax AND Portugal standard rates. All three are EU Mediterranean countries, but Cyprus adds the 60-day rule (Greece and Portugal require 183 days), English widely spoken, and no minimum investment requirement. For entrepreneurs, Cyprus is the clear winner in this Mediterranean tax comparison.
Cyprus Non-Dom: ~5% effective tax
The option most people overlook
- ✓EU member with full Schengen access
- ✓Non-Dom status: 0% tax on dividends (only 2.65% GHS)
- ✓~5% effective tax rate for entrepreneurs
- ✓60-day rule: tax residency with minimal presence
- ✓Mediterranean lifestyle, 340 days of sun
- ✓English widely spoken
Detailed Cyprus comparisons:
Frequently Asked Questions
Is Portugal or Greece better for expats in 2026?+
Does Greece have a Non-Dom regime?+
Which Mediterranean EU country has the lowest taxes?+
Sources and References
Tax data: PwC Worldwide Tax Summaries, KPMG Tax Guides (2025/2026), Big Four country guides. Effective rates are approximations for entrepreneur structures (company + low salary + dividends). Consult a tax advisor before making decisions.
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