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Greece

Programme Overview

Greece

Launched in July 2013 the Greek Golden Visa programme grants a five-year residency visa in return for an investment in real estate. There is no minimum stay requirement and children up to the age of 21 are included in the family application. The visa is granted for five years and renewed every five years if the property investment is retained. It is not necessary to live in the country in order to retain and renew the investor visa. However, citizenship can only be granted after seven years of residency.

Greece Real Estate Investment

Real estate opportunities for the Greek Golden Visa

EU Residency. Schengen Visa Free Access

Residency and potential citizenship after 7 years.

Greek Golden Visa Program News

All the latest news and reports on Greece's Golden Visa programme

Benefits

Greece offer one of the most cost-effective Golden Visa programmes in Europe. The main benefit of the programme is that applicants will be granted Greek Permanent Residency within just a few months, following a real estate investment of €250,000. A Greek residency permit will enable the holder to live, work and study in Greece, should they wish to, although this is not a requirement of the Golden Visa programme. As Greece is part of the Schengen Zone, Greek residents can to travel visa-free to the rest of the EU Schengen Zone, with the ability to spend up to 90 days every 180 days in other Schengen states.

Key Benefits:

  • Fast processing of residency permit
  • Low government fees
  • Low renewal fees
  • Own Greek real estate – diversify your assets
  • Visa-free travel throughout the EU Schengen zone

Permanent Residency and Citizenship in Greece

Greece’s Golden Visa programme grants Permanent Residency from the start. Permanent Residency permits need to be renewed every five years through retaining the property investment.

Although it is technically possible to apply for citizenship in Greece after seven years of full-time residency, Greek law also requires citizenship applicants to speak fluent Greek, which makes this process difficult for most. Investors looking for potential European citizenship are advised to consider alternative options such as the Portugal Golden Visa programme, which provides a more flexible route to citizenship.

Minimum investment of €250,000
Clean criminal record
Open to non-EU applicants
Full family residency
Dependent children
Dependent family members
No Minimum Stay
No Language Test
Residency in EU country
EU Schengen zone travel
Citizenship 7Yr+ residency

How Much Does a Greek Golden Visa Cost?

As of September 1st, 2024, the Greek Golden Visa programme has revised its minimum investment requirements.

  • 1. €800,000 Investment Zone: This higher threshold applies to sought-after areas such as the entire Region of Attica (including Athens), Thessaloniki, the islands of Mykonos and Santorini, and 32 other islands, which include: Crete, Euboea (Evia), Rhodes, Corfu, Lesbos, Chios, Zante (Zakynthos), Salamis (Salamina), Kos, Kefalonia, Samos, Lefkada, Syros, Naxos, Kalymnos, Lemnos, Paros, Thassos, Aegina, Tinos, Ikaria, Andros, Leros, Karpathos, Skiathos, Milos, Skopelos, Spetses, Kythera, Patmos, Poros, and Alonissos.
  • 2. €400,000 Investment Zone: For properties located outside these prime areas, the minimum investment is set at €400,000.
  • 3. €250,000 Special Investment Category: Despite the new thresholds, certain types of investments like commercial-to-residential conversions and restoration of listed buildings can still qualify for the €250,000 threshold, provided the restoration is completed to renew the Golden Visa after five years. These projects are extremely limited and those interested should act fast. Register your interest here.

Government, notary and legal fees for the property purchase and visa application will amount to around €15,000. In addition, there is VAT to pay in Greece on the property purchase.

Golden Visa Requirements

In addition to making the necessary real estate investment there are several requirements that applicants must meet:

  • A clean criminal record
  • Sufficient funds and healthcare to cover their stay
  • No previous Schengen visa refusals
  • Applicants will need to be non–EU residents

How to Apply

Step 1

Book your free consultation with Casa Aurum’s team of experts to discuss and decide which programme and investment route is best suited to you and your family. Our experienced consultants will advise you on all applicable fees and guide you through the entire process in detail.

Step 2

You can choose your real estate investment remotely through our trusted advisors, or you can visit Greece to select your investment and appoint a lawyer to take care of the conveyancing on your behalf. Through Power of Attorney the property purchase can be completed at the notary in your absence.

Step 3

Once the real estate investment is complete, usually within 30 days, you can then apply. Clients will need to attend an application appointment to submit their biometric data, or it can be submitted within six months following the appointment.

 

Step4

Once your golden visa application has been approved you will be issued with a five-year Greek Permanent Residency permit. This can be renewed every five years providing the real estate investment is maintained.

 

 

Greece FAQ's

Casa Aurum has more than 10 years’ experience dealing with both the Greece and Portuguese golden visa programmes. The main difference between these programmes is that Portugal offers a more flexible path to citizenship. Greece’s Permanent Residency programme is better suited to those who specifically want real estate in Greece, with the added advantage of a residency permit. If your end goal is citizenship in the EU, then Greece may not be the most suitable option as you must reside full time for seven year and speak fluent Greek.

Athens is one of the most favoured areas for investment for the golden visa in Greece. However, as of May 2023, the required investment in Athens and 35 other municipalities in Greece will double to €500,000. The government are introducing this law in a bid to spread foreign investment more equally across the country. Elsewhere the investment remains at €250,000.

It is not possible to obtain citizenship through investment in Greece without a period of residency. Investment in real estate can obtain a golden visa, a permanent residency permit, and the right to live full time in Greece. Following seven years of residency, Greek citizenship can be applied for, providing the applicant can speak fluent Greek. Note that Greek is considered one of the world’s hardest languages to learn and for many this factor will stop them applying for Greek Citizenship. If your end goal is to secure citizenship in Europe, then you may wish to consider another programme.

Anyone can apply for Greece’s Golden Visa Programme. Casa Aurum has handled applications from over 150 countries worldwide. As with any programme, certain nationalities, such as Iranians and Russians, face banking sanctions so will be prohibited from transferring their funds to a Greek bank. Casa Aurum can advise on a case-by-case basis.

Non-residents in Greece will pay tax on their income derived in Greece but not on income from outside of the country. Income tax starts at a rate of 22%. Rental income from property in Greece is taxed at rates, from 11% to 33%. Certain expenses are deductible from the gross income. Capital gains tax (CGT) is charged at 15% on property sales.

Yes, however you must have invested a minimum of €250,000 equity in the property. So, for example, a purchase of €750,000 with a €500,000 mortgage will qualify for the golden visa application.

The key disadvantage is the inability to apply for Greek citizenship without a period of residency in Greek and the ability to speak fluent Greek. Our clients are not usually looking to relocate countries and that is one of the key reasons why Portugal remains more popular than Greece for Golden Visa investors.

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