Greece Golden Visa: Comprehensive Guide 2025

Greece Golden Visa offers a compelling pathway to European residency, attracting investors with the country’s rich cultural heritage, strategic Mediterranean location, and dynamic economy. As a gateway to both Europe and Asia, the program provides access to political and economic stability, along with a business-friendly environment that fosters growth and investment. Greece has become an increasingly popular choice for those seeking a second home while exploring diverse business opportunities.

In this article, we will provide a comprehensive guide for the Greece Golden Visa, highlighting the investment routes, the benefits, and the whole process.

 

What is the Greece Golden Visa?

The Greece Golden Visa is a residency by investment program that allows non-EU citizens to obtain Greek residency by investing in real estate or other qualifying assets in the country.

Launched in 2013, the program provides a five-year residence permit to applicants who make qualifying investments in Greece. Investors have various options, mainly investing at least €250,000 in real estate property,  government bonds with three years’  maturity, corporate bonds, shares listed on Greek exchanges, or investment funds that focus on equities and bonds.  However, real estate remains the most popular option for obtaining the Greece Golden Visa program.

Additionally, in September 2024, Greece announced recently that it would offer residence permits to applicants investing at least €250,000 in local startups.

A major benefit of the program is the flexibility it offers applicants, enabling them to include their family members in the residency application. This includes the spouse and children under 21 years of age so that the whole family can experience the benefits of a Golden Visa. What makes the Greek program different from other Golden Visa programs is its Extended Family Benefit, which means that not only the principal applicant’s parents can get residency cards, but the parents-in-law can do so without any other conditions.

The Greece Golden Visa also allows its holders to live in Greece and travel without a visa in the Schengen Zone. It can be issued within 2-3 months for the investor and his family. Holders of the Greece Golden Visa can apply for citizenship after 7 years of legal residence in Greece.

 

Greece Golden Visa Latest Insights

Golden Visa applications in Greece saw a notable uptick in October 2024, with initial submissions rising by 12% year-on-year. According to Greece’s Ministry of Migration[1], a total of 12,577 new applications were recorded, compared to 11,229 in October 2023. Chinese nationals dominate the program, accounting for over half of all new applications. The top five nationalities for Golden Visa applications in October 2024 were:

• China: 6,521 applications (51.8% of the total)
• Turkey: 1,115 (8.9%)
• Lebanon: 717 (5.7%)
• United Kingdom: 511 (4.1%)
• Iran: 509 (4%)

These figures reflect the sustained global interest in Greece’s Residency by Investment program, especially among investors from Asia and the Middle East.

Chinese investors also led in terms of visa renewals and issuances. In October 2024, the number of renewals and new residency permits issued under the Golden Visa scheme jumped by 61% year-on-year, reaching 4,283 compared to 2,659 in October 2023.

The top countries by number of renewals and issuances were:

• China: 2,327 (54% of the total)
• Russia: 426 (9.9%)
• Turkey: 394 (9.2%)
• Iran: 167 (3.9%)
• Egypt 166 (3.9%)

 

Eligibility Criteria for the Greece Golden Visa Program

To qualify for a Greece Golden Visa, applicants must meet the following requirements:

• Be a citizen from outside the EU/EEA
• Be at least 18 years old or above
• Have a clear background check and a clean criminal record
• Have valid medical health Insurance for the applicant and his family
• A proof of the source of money
• Demonstrate good moral standing

Starting from 2021, applicants became able to submit their application remotely, without the need to visit Greece in person.

 

Investment routes

Several investment routes qualify investors for a Greece Golden Visa. These include real estate, government bonds, and business investment.

Greece Real Estate Golden Visa Options

Several investment thresholds qualify investors for a Greece Golden Visa. The country does not restrict property deals, therefore, Greece Real Estate Investment for non-EU Nationals is possible. Foreigners can freely buy, lease, and sell residential properties such as villas, hotel complexes, maisonettes, apartments, penthouses, and commercial properties. The Greece real estate golden visa options are:

• A minimum of €250,000: For real estate under renovation or conversion of commercial properties into residential use, or the restoration of registered buildings regardless of location or size. Applicants can buy €250,000 real estate in Greece.
• A minimum of €400,000: Investors looking to obtain a Greece Real Estate Investment Residency can apply by purchasing property in rural areas or in less densely populated cities and islands, worth €400,000 or more, provided that the investment is in a single property of at least 120 m2.
• A minimum of €800,000: Investors can qualify for a Greece Golden Visa Real Estate Investment if they purchase a property in Athens, Thessaloniki, Mykonos, Santorini, Attica, and islands with more than 3,100 inhabitants, worth €800,000 or more.

Investors looking for a Greece Property Investment Visa should own and keep real estate with them. If they acquire the property through a legal entity, they must own 100% of the company shares. If investors opt to sign a lease of hospitality accommodation, the contract must cover a minimum duration of 10 years and €400,000 or €800,000 in rental amount. The contract must also require a single payment of the rent for the equivalent of the ten-year leasing of the property.

The investors may renew the Greece Real Estate Investment Residency every five years, however, they must fulfill the above conditions. Investors can qualify for citizenship after 7 years of permanent living in Greece.

 

Additional Fees

Government Fees	€2,016 for the main applicant €166 for each additional dependent
Local Health Insurance	€150 per person (approximate)
Professional Fees	Differ from one agency to another
Legal Fees	1.5 % of property value + VAT
Public Notary Fees	1.5 % of property value + VAT
Land Registration	0.8% of property value
Property Transfer Cost	3.09% of property value
Note: Percentages are approximate and may vary from one application to another

 

Real Estate Market: Notable Growth

The real estate market in Greece has also shown its resiliency, as the share of net FDI[2] in real estate grew from 7.4% in 2013 to 33.5% in 2018 and remained above 30% during 2019-2020. This growth is attributed to the “golden visa” program, which boosted investment interest in Greece from third-country nationals. An increase occurred in 2022 to 24.6%, and a new historical record of 44.7% was hit in 2023. Furthermore, in 2022, a record was set in absolute terms, as net FDI in real estate reached €1.98 billion, and in 2023, a new historic high was recorded at €2.1 billion.

The Greek real estate market shows promising growth potential, with predictions indicating[3] it will reach $1.59 trillion in total value by 2025. The residential real estate segment leads the sector, accounting for $1.34 trillion of the total market value. The market will expand at a steady pace with a 3.40% compound annual growth rate (CAGR) from 2025 to 2029, reaching $1.82  trillion by 2029. The Greek real estate market experiences increased demand for luxury beachfront villas driven by international investors seeking exclusive Mediterranean properties and lifestyle opportunities.

Real estate investments in Greece can be rented out to provide a consistent income. In central Athens, specifically Athens Historical Center and Kolonaki – Lykavittos, gross rental yields, which are the rent the landlord will earn before taxation and other costs compared to the property´s purchase price, range from 2.80% to 6.32%. Smaller apartments tend to have higher rental yields than larger ones.

 

Other investment options

. Hotel or Tourist Residence Lease: A 10-year lease of hotel accommodation or furnished tourist residences valued at €400,000 or €800,000, depending on the investment region.

. Government Bonds: Investment of €500,000 or more in Greek government bonds with a minimum maturity of 3 years, purchased through a Greek credit institution.

. Stock & Bond Market Investments: Investing €800,000 or more in shares, corporate bonds, or Greek government bonds traded on the Greek markets.

. Investment Funds: Purchasing €350,000 or more in shares of an investment fund that invests in Greek equities, corporate bonds, or government bonds.

. Business Investment: The business investment route is an effective way for an investor to contribute to the Greek economy. To meet the qualification, one has to invest at least €500,000  into a company that is based in Greece. This investment has to be made towards the company’s operations in Greece, creating job opportunities and contributing to the economic development of the country while at the same time giving the investor the ability to obtain a residence permit.

 

Requirements for Property Purchase

• The real estate property must be owned by the investor and remain in his possession.
• If the property was purchased through a legal entity, investors must own 100% of the company shares.

Requirements for Hospitality Accommodation Lease

• The lease must have a minimum duration of 10 years, with a rental amount of €400,000 or €800,000, depending on the region.
• The contract must require a single upfront payment covering the entire 10-year lease period.

Residency through investment in startups

The Greek government announced in late 2024 that it will offer residence permits to investors in local startups who invest at least €250,000. The new scheme offers investors the opportunity to obtain a five-year residence permit in Greece.

Greece’s startup ecosystem is experiencing rapid growth, driven by its strategic location, rich heritage in science and technology, and improving infrastructure. From Athens to Thessaloniki, startups in sectors such as AI, blockchain, energy, and transportation are drawing increasing interest from local and international investors. Backed by government support, a robust network of incubators and accelerators, and a highly skilled talent pool, Greece’s startup scene is poised for substantial expansion, positioning the country as an emerging force in the global innovation landscape. The Greek startup ecosystem has witnessed an impressive transformation in the last six years. A report by Found.ation and EIT Digital indicates[9] that venture capital (VC) funding soared from less than €50 million in 2018 to a peak of €670 million in 2021, showcasing remarkable growth in the investment trajectory.

 

Greece Golden Visa Benefits

1. Right to Live in Greece

With the Greek Golden Visa, investors and their family members have the legal right to live in Greece as long as they want, without any minimum stay requirement, making it completely flexible for holders to use as they please. In addition, the opportunity to live in Greece entails access to free public healthcare and education, providing a better life for the applicant and their loved ones.

 

2. Visa-free access

The Greek Golden Visa allows investors to travel to the Schengen Zone visa-free and EU countries that are not part of the agreement, such as Romania, Croatia, Cyprus, and Ireland, without having to apply for another visa. This applies only to short visits of up to 90 days within 180 days. This makes it a good choice for those who want free movement in Europe without a hassle.

3. Family Reunification

Wondering if the investor’s family can be included in the application. Yes! The Greek Golden Visa permits the investor’s spouse and children below  21 years of age to be included in the application and enjoy the same residency rights and benefits. The Extended Family Benefit makes Greece different from other Golden Visa programs. This means that the parents of the main applicant and their spouse can also apply for a residence permit without any further requirements.

4. Affordable Investment in a Growing Real Estate Market

Greece has one of the lowest investment thresholds amongst European Golden Visa programs. Investors can obtain their residency in Greece by investing just €250,000 in real estate.

The Greek property market experienced significant challenges after the 2008 financial crisis and remained in a downturn for several years. But as of  2023, it’s on a strong upswing, which makes it a good time to invest. The demand from foreigners for buying houses is on the rise in Greece. In  2023, the total value of real estate purchases made by foreign buyers[4], which account for  80%-85% of all real estate purchases in Greece every year, hit an all-time high of €3  billion after having grown annually by 68% in 2022 and 34.4% in  2021. Greek house prices are still rising, fueled by strong demand from foreign homebuyers, increasing residential construction, and overall economic expansion. Greek house prices, however, grew at a relatively lower rate when compared to many European countries.

 

5. Favorable tax regime

A Greek Golden Visa does not automatically make the holder a tax resident in Greece. For non-residents who hold a Greek Golden Visa but do not spend significant time in Greece, taxes are only applied to Greek-sourced income, such as rental income or property-related earnings. Double-taxation treaties may also apply, preventing taxes from being paid twice on the same income. Taxes are only applied if the individual spends more than 183 days per year in the country. If you do become a tax resident[5], the following taxes apply:

• Income Tax: Greek residents are taxed on their worldwide income, with rates ranging from 9% to 44%, depending on income levels. Non-residents are taxed only on income earned in Greece.
• Capital Gains Tax: Capital gains from selling property in Greece are taxed at a rate of 15%.
• Property Tax: Property owners must pay an annual property tax (ENFIA), calculated based on the size and location of the property.
• VAT (Value-Added Tax): A standard VAT rate of 24% applies to goods and services purchased within Greece.

To attract high-net-worth individuals, alternative taxation on foreign source income earned by individuals (and/or their relatives) who transfer their tax residence to Greece is introduced[6]. Individuals who will utilize the alternative taxation method should pay:

• A lump sum tax of €100,000 on an annual basis, regardless of the level of their foreign source income.
• A lump sum tax of €20,000 on an annual basis, in case a relative utilizes respective provisions.

 

The Greek source income of the individuals subject to the alternative taxation method should be reported in the annual income tax return and taxed according to its classification, although their foreign source income is not subject to reporting and is taxed based on the lump sum tax. It is worth mentioning that settlement of the annual lump sum tax exhausts any further tax liability for the individual on their foreign source income, whilst any tax paid abroad is not offset against any Greek tax liabilities (e.g. no Foreign Tax Credit (FTC) is available). Furthermore, this individual is exempt from inheritance and donations tax on any foreign assets.

 

Your Path to Obtaining the Greece Golden Visa

The process to obtain the Greece Golden Visa is smooth and straightforward. This includes choosing and signing a service agreement with a trusted agent, who will provide advice and prepare documents and government forms.

Step 1: Choose the property

To complete this step, applicants should determine the investment criteria and select the property they’d like to invest in. They can choose various features to invest in. However, the minimum investment should be €250,000 or above, depending on the area.

Step 2: Adhere to legal procedures

Applicants should obtain a Greek Non-Resident Tax number and open a bank account. They can also have the execution of power of attorney as an optional step.

Step 3: Purchase the property

This step entails a lawyer to make legal due diligence on the property on your behalf. Applicants will then have to get the promissory sale and purchase agreement and execute the public deed.

Step 4: Filling the application

At this stage, applicants need to prepare all the documents required for the Golden Visa application. Resorting to a lawyer at this step would be helpful because the process might be overwhelming.

Step 5: Visit Greece

This step is essential because applicants are required to submit all the biometric data to the relevant authorities in Greece.

Step 6: Golden Visa approval

The relevant authorities approve your Golden Visa application and issue the residence card.

Step 7: Renewal process

Applicants are required to renew their Golden Visa residence card every five years, to be able to access permanent residence.

Step 8: Applying for Citizenship

To qualify for Greek citizenship and a passport, applicants should live in Greece for seven years and pay taxes.

 

Required Documents

To obtain a Golden Visa, applicants must submit the following documents:

• Two copies of the application document
• Four recent color passport-sized photos
• Certified copy of a valid passport or recognized travel documents
• Fee payment obtained through the “e-Paravolo” platform (approximately €500 for residence permits up to five years)
• Processing fee obtained through the “e-Paravolo” platform (approximately €16 for the printing of the electronic residence permit)
• Certification by an insurance agency for hospitalization and medical care. This includes Insurance contracts signed outside of Greece that explicitly cover the individual for the duration of their stay and insurance contracts signed within Greece

 

Sometimes, additional documentation may be requested by the Greek authorities. Applicants may submit their application directly or through a Greek lawyer.

 

How Long Does the Process Take?

The time frame to get the Greek Golden Visa is two to three months after providing the biometric data. Nevertheless, the investment processing time will depend on the kind of investment made and the kind of real estate or financial option that is chosen. Once the Golden Visa application is submitted, applicants get a certificate of submission on the same day, which counts as a temporary residence permit.  After applying,  the applicants can give their biometric data at any point during the next 12  months.

 

Greece Golden Visa Renewal

The Greek government issues Golden Visa cards valid for five years. To maintain the residency, applicants must renew their permit every five years and continue meeting all investment conditions at the time of renewal. This means the real estate property must remain in full ownership of the main applicant, and the leases and contracts related to the property must still be valid and meet the requirements.

To renew your residence permit[7], you must apply no later than thirty 30 calendar days before the expiry of your residence permit at the Asylum Unit for Beneficiaries of International Protection.

In case of delay or unjustified application for renewal, a fine of one hundred 100 shall be imposed. If applicants cease to be refugees or beneficiaries of subsidiary protection, their residence permit cannot be renewed.

The renewal process for residence permits involves four steps:

• Apply for renewal via e-mail to the Beneficiaries’ Asylum Unit
• Receive a reply by e-mail from the Beneficiaries’ Asylum Unit
• Submit additional documents to a Passport Office
• Collect your renewed residence permit from a Regional Asylum Office or an Asylum Unit

Documents required for renewal:

• Completed application form
• Four recent color passport-sized photos
• Clear copy of a valid passport or recognized travel documents
• Certified copy of the previous permanent residency card
• Insurance certification covering hospitalization and medical care, including insurance contracts signed outside of Greece covering the applicant for the duration of their stay, and Insurance contracts signed within Greece.

In some cases, additional documents may be requested by the authorities for the renewal process.

 

Gaining Greek Citizenship

The Greek Golden Visa program is not a citizenship-by-investment program. However, applicants can apply for naturalization if they fulfill the requested criteria, including living in Greece for seven years. In this period, one has to be a tax resident in Greece and pass a Greek language test. There is a requirement for a genuine interest in Greek culture and a connection to Greece.

 

Greek Citizenship Process

Golden Visa holders’ process to apply for Greek citizenship is smooth and straightforward. Applicants are required to submit their application to the Ministry of Interior.

Key Requirements for Citizenship

• Legal Residency: Applicants must have lived legally in Greece for at least 7 years (or 5 years if under certain conditions).
• Clean Criminal Record: Applicants shouldn’t have serious criminal convictions in Greece or their home country.
• Greek Language Proficiency: Applicants should know the Greek language.
• Integration into Greek Society: Evidence of integration, like participation in Greek cultural or social activities.
• Financial Stability: Applicants should demonstrate that they have enough income or financial resources to support themselves and their families.

 

Required Documents

To apply for Greek citizenship, applicants should prepare the following documents:

• Completed application form
• Copy of a valid passport
• Proof of a Golden Visa and legal residency in Greece
• Documents demonstrating continuous legal residency in Greece for the required period (residence permits, tax returns).
• A clean criminal record from both Greece and the home country
• Certificate of Greek language proficiency from a recognized institution
• Proof of financial stability, including bank statements, tax returns, or employment contracts showing sufficient income.
• Certified birth certificate and translated if necessary
• Marriage Certificate (if applicable) certified and translated
• Proof of integration into Greek society, such as participation in community activities, volunteer work, or cultural events.
• Proof that all taxes have been paid in Greece
• Health Insurance coverage in Greece
• New passport-sized photos
• Proof of payment of the required application fees

 

Steps to Apply

• Step 1: Applicants should gather all required documents and ensure they are translated into Greek by a certified translator (if necessary).
• Step 2: Submit the application to the Decentralized Administration Office in the region of residence.
• Step 3: Interview to evaluate the applicant’s integration and language skills.
• Step 4: Wait for the application to be processed, and this procedure may take several months.
• Step 5: After gaining the approval, applicants will be required to take an oath of citizenship.

 

How You Benefit from Greek Citizenship

Acquiring Greek citizenship brings considerable benefits:

EU Passport: Greek citizens enjoy visa-free or visa-on-arrival access to over 180 countries worldwide, ranking the Greek passport 7th in the world.

Work Permit: As a Greek citizen, you have the right to live, work, and study in Greece or any other EU country.

No Investment Requirement: Once you acquire citizenship, you are no longer required to maintain your investment. You may dispose of your Golden Visa investment, as no further renewals are required.

 

Frequently Asked Questions:

Does Greece provide a Golden Visa?

Yes, Greece offers a Golden Visa that provides residency to non-EU citizens. The Greek Golden Visa can be obtained through real estate investment, government bonds, or shares. It is a very popular choice for citizens from the US, UK, and Turkey.

How much does a Golden Visa cost in Greece?

To meet the eligibility requirements for a Greek Golden  Visa, one has to invest at least €250,000.

Can I get a residency permit in Greece if I purchase a house?

Yes, it is possible to get a residence permit in Greece by purchasing a property. It must be at least €250,000 (depending on the area).  In case the property is cheaper, you are not eligible for the Golden Visa program.

How can I get permanent residency and citizenship in Greece?

One of the most popular ways to obtain permanent residency in Greece is through the Greek Golden Visa.  You are not obliged to live in Greece to keep your residency status. But if you wish to apply for citizenship, you will have to spend most of the year in Greece. At the end of seven years, you can apply for citizenship, provided you pass a language and culture test.

Who is eligible to obtain a Greece Golden Visa?

To qualify for a Greek residency permit, applicants must be non-EU residents. They should have a clean criminal record and pass a due diligence check. The spouse, children under the age of 21, and parents can be included in the application. According to Greece’s regulations, family members of foreign investors are the spouses, the direct descendants of the spouses, who are under the age of 21, and the direct relatives of the spouses in the ascending line. Family members do not include unmarried partners.

How to get Greek citizenship by investment?

To receive Greek citizenship by investment, one must first make a large financial investment into the country, for example, by purchasing real estate or creating a business.  The minimum investment is usually between €250,000 and €500,000.  Once the investment is made, it is possible to apply for residency in Greece, and after living there for seven years, it is possible to apply for citizenship.

Do the amounts stated include Value Added Tax (VAT) or not? What should be the value of the investment if both spouses are indicated in the ownership/sale document?

The investments shown are the prices in the contract and do not include VAT. If the property is owned by both spouses, they will both get the residence permit.

What is the Golden Visa application fee?

The fee for applying for a Greek residence permit based on the purchase of real estate is €2,000 for the main applicant. Family members pay €500 each, and fees for children under 21 years are €150. Furthermore, there is a charge of €16 per card for the residence permit card itself.

Is it necessary to hire a lawyer to collect the documentation?

While it’s not legally required, it’s always advisable to consult a professional.

Can a non-EU investor travel to EU countries with a Greek residency permit?

Yes, a permanent residency and long-term permit provide full freedom of movement within the EU.

Can the investment permit in Greece be considered a work permit?

No, the permit does not grant access to any form of employment in Greece.

Does a Greek permanent residency holder have the right to apply for citizenship?

Although a residency card does not directly grant Greek citizenship, it allows the holder to become a long-term resident, which is a requirement for applying for citizenship.

Can investors obtain Greek citizenship by investment?

Applicants can not obtain Greek citizenship by investment directly, but it is possible to receive a Golden Visa by investing at least €250,000 in a real estate property. After holding the residency permit for seven years, investors can apply for citizenship.

Is Greece’s passport considered a highly powerful document?

Greece’s passport is ranked 6th globally, offering its holders the ability to enter without a visa to 189 destinations across the world.

Can I invest in multiple properties to meet the €250,000 threshold?

No, the investment has to be done in one property only. For example, an investor can qualify for the Greece Golden Visa by buying one property in Athens, which is €800,000, but not by buying several properties that are equal to or more than €800,000.

Can I  invest in commercial property or a mixture of property and land?

For investments in the €400,000 and €800,000 tiers, there is no distinction between commercial and residential properties. However, at the €250,000 level, the investments have to be in properties that have been converted from commercial to residential use.

Can I use a mortgage to purchase the property for my Golden Visa application?

Properties bought for the Greece Golden Visa can’t be bought with a mortgage or loan. The investment has to be made in full.

Do I need to show proof of my financial situation?

In addition to the documented proof of income, applicants must also present proof of their bank accounts or transferable securities, such as shares or bonds that they own, in order to show that they are financially independent.

What happens if I get a criminal record after obtaining my Greek residence permit?

Having a criminal record wherever it is from will result in the cancellation of your Greek residence permit.

Can I rent out my property to third parties?

Investors are permitted to sublet real estate property in Greece.

Do I have to visit Greece to apply for the Golden Visa, or can I do it from abroad? 

Since December 23, 2020, Greece has allowed applications for the Golden Visa to be made remotely. In this case, a law firm in  Greece can act on your behalf if you grant them a Power of Attorney.

Do I have to move to Greece after getting the Golden Visa?

There is no requirement to live in  Greece to keep the Golden Visa. But to apply for Greek citizenship, you must live in  Greece for seven years.

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

Yes, UK citizens are eligible to apply for the Greek Golden Visa after Brexit starting from January  1, 2021.

Can U. citizens apply for the Greece Golden Visa?

Yes, all non-EU nationals including American citizens can apply for a Greek Golden Visa if they fulfill the eligibility requirements.

Do I have to pay taxes in Greece if I obtain the Golden Visa?

You only pay taxes on income earned in Greece, thanks to the double taxation treaty.  If you spend more than 180 days in Greece, you become a tax resident, and you have to pay taxes on your worldwide income.  Tax residency is a prerequisite if you intend to pursue Greek citizenship.

Can my children enroll in a Greek public school with a residence permit?

Yes. The holders of residence permits have access to public education, just as any other resident of Greece.

What happens if I sell the property?

If you sell the property whilst your residence permit is still valid, both your permit and any residence permits granted to your family members will be revoked.

How Long Can I Keep My Golden Visa?

The residence permit is valid for life, but only if extended every five years. There is no limit to the number of renewals as long as the applicant still owns and actively maintains the minimum investment (real estate or financial).

There is no requirement to stay in the country. The Golden Visa holders are not required to live in Greece or even visit the country frequently to keep their residency. However, they have to come back every five years to update their biometric data.