Updated on November 11, 2024

Greece Golden Visa

EU residence permit by investing in real estate increasing in value

€250,000+

Investment amount

4+ months

Obtaining period

5 years

Residency validity

Investors obtain Greece Golden Visas by purchasing residential or commercial properties valued at €250,000+. Another option is to lease tourist accommodation or enter into a timeshare agreement.

Besides real estate investments, there is an option to invest in local companies' capital, purchase securities and government bonds, or open bank deposits. In these cases, the minimum investment amount is €500,000.

Buying shares of mutual and alternative investment funds requires at least €350,000.

Residence permits are issued to the investor’s family: spouse, children under 24, and parents.

There is no requirement to pass exams in Greek language or history. Living in Greece is only necessary if the investor plans to apply for citizenship.

Greece has been granting Golden Visas since 2014. The conditions for applicants are specified in Law No. 4251 dated 1.04.2014 and its amendments.

Benefits of the Greece Golden Visa

  • 1

    Visa-free travel to the Schengen countries

    Greek residents can spend up to 90 days out of 180 in any Schengen country without a visa.

  • 2

    Straightforward path to residency for the entire family

    Golden Visa applicants are not required to take exams in Greek language, history, or culture.

    Residence permits are granted to the investor’s family, including the spouse or registered partner, children, and parents.

  • 3

    Passive income and returnable investments

    Investors may rent out their properties on long-term leases. The average yield on Greek properties is 3—5% per annum.

    Maintaining ownership of the investment is mandatory when extending the residence permit. The property can be sold after the residence permit expires or upon acquisition of citizenship, which is possible 7 years later.

  • 4

    Moving to Greece and creating a “safe haven”

    The residence permit allows the holder to visit Greece anytime, even when the borders are closed to tourists.

    Relocating to the country is a right, not an obligation; renewing the residence permit only requires maintaining the investment. However, to be eligible for citizenship in Greece, one must spend at least 183 days per year in the country.

  • 5

    EU citizenship in 7 years

    The Golden Visa is valid for 5 years and can be renewed an unlimited number of times.

    Foreign nationals can obtain citizenship in Greece if they have spent at least 183 days per year in the country for 7 years. Applicants must demonstrate they have no criminal record or deportations and pass a written exam on the Greek language, culture, history, geography, and governance.

    Greece allows its citizens to hold multiple passports. There is no need to renounce previous passports unless required by the country of first citizenship.

  • 6

    Tax optimisation

    If foreign investors become Greek tax residents, they can use benefits. The investor pays a flat tax on their global income — €100,000 per annum. The investor’s close relatives can also take advantage of the benefit and pay €20,000 per annum.

    Without the exemptions, the global income tax is levied on a progressive scale of up to 45%.

  • 7

    Access to quality healthcare and education

    Residents of Greece can get medical treatment or education in this country. Also, they can use their right to visit other Schengen countries visa-free to take short courses or visit clinics.

price

Practical guide on the Greece Golden Visa

  • Step-by-step procedure

  • Requirements for applicants

  • Required documents

  • Answers to frequently asked questions

Who can get a Greece Golden Visa

  • Investor

    • Over 18

    • No criminal records or prosecutions

    • Capable of confirming the income legality

  • Spouse or partner

    Same-sex couples included. Partners must have a cohabitation agreement registered and signed in Greece

  • Investor’s children under 24

    • Unmarried

    • Students if over 21

  • Spouse's children under 21

    • Unmarried

    • Under investor’s custody

  • Parents

    • No age limit

    • Financial dependency isn’t required

Investment options for the Greece Golden Visa

Greece offers investors nine options for getting a residence permit by investment. Four of them are related to the purchase or rental of real estate.

Option 1

Real estate purchase — €250,000+

The minimum investment depends on the property location:

  • €800,000 in Attica and Thessaloniki, on Mykonos, Santorini, and islands with 3,100+ residents;

  • €400,000 in all other regions.

The threshold of €250,000 remains as an exception for properties purchased for renovation or conversion into residential space.

A single property valued at €250,000—800,000+ can be purchased.

The property area for purchases amounting to €400,000 or €800,000 must be at least 120 square metres.

The investor can buy residential or commercial real estate, one or multiple properties, as an individual or through a legal entity.

The rules are stipulated in Law No. 5038/2023 and Article 64 of Law No. 5100/2024.

Purchase of real estate

€250,000+

Property transfer tax

3,09% of the property value

Property registration fee

0,5% of the property value

Notary fees

1.5—2% of the property value

Application fee

€2,000 for the investor,
+€150 per adult family member

Health insurance

€300+ per applicant

Option 2

10-year lease of tourist accommodation — €400,000+

Option 3

Timeshare for tourist accommodation — €400,000+

Option 4

Receiving real estate as inheritance or a gift — €400,000+

Option 5

Purchase of shares in mutual or alternative investment funds — €350,000+

Option 6

Opening a fixed-term deposit — €500,000+

Option 7

Purchase of government bonds — €500,000+

Option 8

Capital investments in Greek companies — €500,000+

Option 9

Purchase of corporate and government bonds listed for trading — €800,000+

Individual cost calculation for the Greece Golden Visa

Individual cost calculation for the Greece Golden Visa

Get an individual calculation for your family with all associated costs and government fees

Golden Visa or residency for financially independent people and digital nomads: terms comparison

Besides investors, financially independent individuals and digital nomads can also obtain residence permits in Greece. Investments are not required for these residence permits; applicants must earn income from abroad and verify their savings.

Financially independent individuals must earn €2,000+ per month from sources outside Greece. They must also deposit at least €48,000 in a Greek bank account, increasing by 20% if a spouse is added and by 15% for each child.

Digital nomads must show a monthly post-tax income of at least €3,500+. The income requirement increases by 20% if a spouse is added and by 15% for each child.

Greece residency terms

Requirement

For investors

For financially independent people

For digital nomads

Investments

€250,000+

Not required

Not required

Income and savings

Not required

€2,000+ — monthly income
€48,000+ — savings

€3,500+ — monthly income

Purchase or rent of housing

Yes, as an investment

Yes, as a private home

Yes, as a private home

Availability for family members

Spouse or partner
Children under 24
Parents

Spouse or partner
Children under 18

Spouse or partner
Children under 18

D visa is required to enter Greece

Not required

Yes

Yes

Residing in Greece

Not required

183+ days a year

183+ days a year

Validity of the residence permit

5 years, subject to unlimited extensions

2 years, subject to extending for 3 more years

1 year, subject to extending for 3 more years

Real estate under the Greece Golden Visa program

https://immigrantinvest.com/wp-content/uploads/2022/04/0c6ccfd6-4c79-4971-9124-c08d0a25ebfc_4_5005_c.jpeg.webp

location iconGreece, Santorini

€388,000 — €905,000

Villa in a gated complex overlooking the sea and vineyards in Santorini
square icon109 m² — 224 m²
bed icon3—5
bathroom icon2—4
https://immigrantinvest.com/wp-content/uploads/2022/04/cpx_8460-optim.jpg.webp

location iconGreece, Santorini

€505,000 — €550,000

Mediterranean style villa next to the sea in Santorini with guaranteed rent
square icon84 m² — 94 m²
bed icon3
bathroom icon1
https://immigrantinvest.com/wp-content/uploads/2022/04/Schermata-2023-01-25-alle-17.21.29.jpg.webp

location iconGreece, Kissamos

€830,000 — €1,550,000

Traditional style villas on the seafront in Crete, Greece
square icon126 m² — 157 m²
bed icon3
bathroom icon3
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  • Get fully prepared and verified documents for a purchase

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Step-by-step procedure for obtaining the Greece Golden Visa by purchasing real estate

1

1 day

Preliminary Due Diligence

A certified Anti Money Laundering Officer conducts a preliminary Due Diligence check. It allows us to spot possible issues and reduce the rejection risk to 1%.

We sign an agreement with the investor only after the preliminary Due Diligence check. If there are risks, we offer an alternative solution: clarify the situation in an affidavit or choose another program.

Pass a quick test and learn the nuances that can prevent you from obtaining residency.

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2

1 week

Preparation of documents

Lawyers fill out government forms and compile a list of financial and personal documents. The investor gathers the documents and signs a power of attorney authorising the lawyer to act on their behalf in Greece.

3

Up to 1 week

Getting a tax number in Greece

A tax number is essential for conducting major transactions in Greece, such as purchasing property.

The lawyer submits an application and documents for the tax number registration. Typically, the number is issued within 3 to 7 working days.

4

1—3 months

Property purchase

Immigrant Invest real estate experts assist the investor in selecting a suitable property for purchase. Lawyers ensure the transaction is clear and legitimate.

Initially, the investor signs a preliminary purchase agreement and deposits 10% of the property cost. Then, the lawyers prepare the final agreement with a notary.

The purchase agreement can be signed by the investor or by a lawyer under a power of attorney. The lawyer submits the agreement for registration in the Land Registry and the Cadastre, obtaining a registration certificate.

The buyer receives the full package of property documents with a certified translation.

5

1 day

Applying for a residence permit

The application for the Golden Visa is submitted after the investment condition is met, such as the completion of a real estate transaction.

Documents are submitted online via the official website of the Greek migration service. A certificate is issued upon submission, allowing the applicant to stay in the country for one year until a decision on the residence permit is made.

6

1 day

Submission of biometrics

All applicants submit their biometric data, as photographs and fingerprints are used to produce residence permit cards.

The opportunity to schedule a biometric appointment becomes available 1—2 weeks after submitting the residency application. A visa may be required for travel to the country:

  • a tourist visa if the investor has purchased property;

  • a national D visa if the investment was made under another option.

The biometric procedure must be completed within 6 months from the date of the residency application and before the expiry of one year.

7

1—2 months

Receiving residence permit cards

The application for a residence permit in Greece is processed within 1—2 months.

The investor can collect the residence permit card personally or authorise a lawyer. Upon receiving residence permits, the investor’s international passport is presented, and the certificate of application for the residence permit is returned.

8

Every 5 years

Residence permit renewal

Residence permits are valid for 5 years and can be renewed. Applications and the required documents should be submitted within two months before the expiry of the current permit. Maintaining ownership of the property or other investment assets is mandatory.

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Clients’ names and photos have been changed to comply with a non-disclosure agreement.

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Additional services after getting a Greece Golden Visa

After obtaining a Greece residence permit, the investor may decide to become a tax resident, buy another property, extend their residence permit or obtain permanent residency or citizenship. See how we continue to help our clients.

  • Selecting real estate

    We help investors choose an apartment or villa or buy a property under construction. We follow the sale from start to finish.

  • Opening a bank account

    We prepare the required documents and fill out the forms.

  • Residence permit renewal

    We help investors renew their residence permit cards after five years.

  • Replacing a lost residence permit

    We prepare an application and accompany the investor until a new residence permit card is received.

  • Residence permits for family members

    We help obtain residence permits for spouses, children and parents.

  • Registration of tax residency

    We help our clients become Greek tax residents and take advantage of benefits, provided they spend at least 183 days a year in Greece.

  • Obtaining permanent residency or citizenship

    We inform investors about the conditions and help them prepare documents and apply.

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Frequently asked questions

  • Who is eligible for a Greek residence permit by investment?

    An adult investor with legal income and no criminal record. Only non-EU citizens can participate in the program.

    A spouse, children under 24 and parents can get residence permits with the investor. The investor’s partner can participate in the program if the couple has signed a domestic partnership agreement and registered it in Greece.

  • How much to invest in the Greece Golden Visa?

    The minimum investment sum is €250,000 for renovation or conversion into residential space. The investment threshold for buying any other type of property is either €400,000 or €800,000, depending on the region.

    Program participants can choose to invest €350,000+ in economic activities, such as buying shares in investment funds, stocks, and government bonds. However, getting a residence permit this way is more challenging because the applicant has to obtain a national D visa to come to Greece. Real estate investors get tourist visas to enter the country.

  • Do I have to buy real estate to participate in the Greece Golden Visa program?

    No, you don’t. The investor can rent a hotel or sign a timeshare agreement for 10 years. There is a capital transfer option with opening a deposit account at a Greek bank. Applicants can also invest in stocks, bonds, or investment fund units.

  • Is it possible to return the investment?

    Yes, after the residence permit expires or upon acquiring citizenship. However, to renew an investment residence permit, retaining ownership of the property is essential. It means the property cannot be sold.

    The program rules allow for the long-term rental of the property: earning an income of 3—5% annually as long as the properties are owned is possible.

  • Do I need to go to Greece to get a residence permit?

    The investor visits the country to open a bank account and submit fingerprints to get a Greece residence permit. As for the rest of the procedure, an investor’s lawyer can fulfil it by a power of attorney. The lawyer signs a purchase and sale agreement, submits documents for participation in the program and receives residence permit cards.

  • How can an investor obtain Greece citizenship?

    Investors need to live in the country for seven years to become Greek citizens.

    All applicants for citizenship take a written exam to confirm their knowledge of the Greek language, culture, history, geography and governmental system. They must also have no criminal records and deportations from Greece.

  • Does the Greek permanent residency give the holder the right to apply for citizenship?

    Yes, but not immediately. First, the PR holder must fulfil some conditions: for example, live in the country for another 2+ years.

  • Can UK citizens apply for the Greece Golden Visa after Brexit?

    Yes, UK citizens may apply for a residence permit by investment in Greece. The UK is no longer an EU member state, so Britons are allowed to participate in the Golden Visa program.

  • Can Americans apply for a Golden Visa in Greece?

    Yes, US citizens may apply for a Greek residence permit by investment if they fit other requirements, such as being able to confirm the legality of income and having no criminal records.

  • How long does the Greek Golden Visa residence permit last?

    A Greek residence permit for investors is valid for five years. It is renewable. Also, investors who live in Greece may apply for permanent residency after these five years.

  • Is the Greek Golden Visa investment worth it?

    An investor who buys real estate in Greece gets a personal residence in this country or a profitable asset that may bring profit. Also, a Greek residence permit allows one to live in the country, travel the Schengen Area visa-free, and access quality healthcare and education.

    If your goals include moving to a warm Mediterranean country, living by the sea or travelling to European countries, the Greek Golden Visa may be a good choice.

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Zlata Erlach
Zlata Erlach

Head of the Austrian office

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