The Greek Golden Visa is a residency-by-investment program that allows non-EU citizens and their families to obtain a residence permit in Greece by making a significant investment in the country. It’s popular among investors, retirees, and those looking for a foothold in Europe, as it provides visa-free access to the Schengen Area and offers a path to residency with minimal residency requirements. Here’s a closer look at how it works.
Key Features of the Greek Golden Visa
Investment Requirement: The main way to qualify for the Greek Golden Visa is through real estate investment. The minimum investment requirement is €250,000, making it one of the most affordable Golden Visa programs in Europe.
Visa-Free Travel in Schengen: With the Greek Golden Visa, holders can travel freely within the Schengen Area of Europe for up to 90 days within any 180-day period, without needing additional visas.
Residency for Family Members: The Greek Golden Visa extends to the investor’s immediate family, including:
Spouse or partner (if civil partnerships are recognized in the applicant's country of origin)
Children under 21 (extendable under specific conditions)
Parents of both the applicant and their spouse
This family inclusion makes it an attractive option for those seeking residency for their entire household.
Renewal and Validity: The Golden Visa is initially valid for five years and can be renewed every five years, provided the investment is maintained. There’s no requirement to reside in Greece to renew the visa, which is unique compared to other residency programs.
No Residency Requirement: Unlike many other residency programs, the Greek Golden Visa doesn’t require investors to live in Greece. You can obtain and renew the visa without spending a certain amount of time in the country, which is attractive for those who want residency flexibility.
Pathway to Citizenship: While the Golden Visa provides a route to Greek residency, obtaining Greek citizenship is a separate process. To apply for citizenship, you typically need to live in Greece for 7 years continuously and meet other criteria such as language proficiency, demonstrating ties to Greece, and passing a citizenship test. Learn more about the Greek citizenship process!
Investment Options for the Greek Golden Visa
Although real estate investment is the most common option, Greece offers other investment paths for those who wish to qualify for the Golden Visa. These options include:
Real Estate Purchase: The updated Greek Golden Visa rules introduce tiered investment thresholds for real estate. In sought-after locations, the minimum property investment has risen to €800,000. For other areas, the threshold is €400,000, while the €250,000 minimum still applies to heritage restorations or conversions of commercial properties into residential homes. These changes aim to balance market demand with preservation and development opportunities. This is the most popular route for Golden Visa applicants due to Greece’s attractive property market and affordable prices.
Timeshare or Lease Agreement: A lease agreement for at least 5 years in a tourist property (hotel or furnished residence).
Startup Investments: Greece’s Golden Visa program also supports entrepreneurs who invest in innovative startups registered in the country.
Capital Contribution: Investing in Greek government bonds, mutual funds, or other financial products, though these options tend to have higher minimum investments.
Advantages of the Greek Golden Visa
The Golden Visa Greece program is one of Europe’s most affordable residency-by-investment options, offering visa-free travel and a pathway to Greek citizenship:
Affordable Entry: With a minimum of €250,000 in real estate, Greece’s program is one of the most affordable in Europe.
Minimal Bureaucracy: The application process is relatively fast, taking around 3-4 months.
High-Quality Lifestyle: Greece offers a warm climate, beautiful landscapes, and a relatively low cost of living.
Education and Healthcare: Visa holders and their families have access to Greek education and healthcare systems.
Renewability Without Residence: You can renew the visa as long as you maintain the investment, with no need to live in Greece.
Cost Comparison: Property Taxes and Fees in Key Countries
Greece | Portugal | Spain | Malta | |
|---|---|---|---|---|
Property Purchase Tax | 3% | 6%-8% | 6%-10% | 5% on real estate purchases |
Government Processing Fees | €2,000 for the main applicant; €150 per dependent | €5,300 for the main applicant; €2,668 per dependent | €1,500 for the main applicant; €1,500 per dependent | €40,000+ (including due diligence fees) |
Why Greece Stands Out
Greece remains a top choice among Golden Visa programs for the following reasons:
Lowest Minimum Investment: Starting at just €250,000, Greece offers the most affordable entry point.
Flexible Investment Choices: Investors can choose from real estate, long-term leases, or bonds.
Minimal Residency Requirements: No requirement to live in Greece to maintain or renew the visa.
Low Costs: Lower property taxes (3%) and affordable processing fees (€2,000) compared to other programs.
How to Get Started
Choose Your Investment: Decide whether to invest in real estate, business, or other eligible assets.
Due Diligence and Documentation: Gather necessary documents, including proof of investment funds, background checks, health insurance, and identification documents.
Complete the Investment: Finalize your investment and obtain the relevant documentation (e.g., property purchase deeds).
Apply for the Golden Visa: Submit the application through Greek immigration authorities, either in person or via a legal representative in Greece.
Approval and Residency Permit Issuance: If approved, you’ll receive a five-year residency permit that’s renewable.
The Greek Golden Visa is a straightforward and affordable residency-by-investment program offering flexibility, travel perks, and an enviable lifestyle. Whether you’re looking to invest in real estate, enjoy easier access to Europe, or secure a future residency option, the Greek Golden Visa can be a valuable option.
Take the First Step Toward Your Greek Residency
With decades of expertise in immigration and real estate law, we’ll guide you through every aspect of the Golden Visa process. Email us at kyveli@expatlaw.gr or call/text +306945551914 for personalized advice. Let us make your journey to Greek residency seamless and stress-free!
FAQs About the Golden Visa Greece
1. What is the minimum investment for the Golden Visa Greece?
The minimum investment for the Greek Golden Visa is €250,000, making it one of the most affordable residency-by-investment programs in Europe. This applies to special types of real estate purchases. In prime locations like Kalamata and Athens, the threshold is higher, ranging from €400,000 to €800,000.
2. How long does it take to get the Greek Golden Visa?
The process to obtain the Golden Visa Greece typically takes 3-4 months from the submission of the application to approval. The exact timeline depends on the complexity of the application and the completion of the investment requirements.
3. Can Golden Visa holders work in Greece?
Golden Visa holders have the right to reside in Greece, but they are not automatically granted the right to work in the country. However, they can own and manage businesses in Greece, providing opportunities for entrepreneurs and investors.
4. Can Golden Visa holders apply for Greek citizenship?
Yes, Golden Visa holders can apply for Greek citizenship, but they must meet additional criteria. Typically, this includes living in Greece for 7 consecutive years, demonstrating ties to the country, passing a citizenship test, and proving language proficiency.
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