Greece's Golden Visa program offers residency permits to non-EU nationals who make a qualifying real estate investment. It provides access to the Schengen Area and a path toward permanent residency.
Program Overview
Launched in 2013, Greece's Golden Visa is one of Europe's most popular residency-by-investment programs. It grants a 5-year renewable residence permit to investors and their families. Greece offers some of the lowest investment thresholds in Europe, though recent changes have introduced zone-based pricing.
Investment Options
- Real estate purchase: Minimum EUR 250,000 in most areas of Greece, or EUR 500,000 in high-demand zones (Athens, Thessaloniki, Mykonos, Santorini, and islands with populations over 3,100).
- Real estate purchase in restored/converted buildings: Minimum EUR 250,000 with conversion to residential use.
- Timeshare or lease agreement: Minimum 10-year hotel or tourist residence lease valued at EUR 250,000.
- Capital investment: EUR 400,000 or more in Greek government bonds, shares, or mutual funds (alternative routes available).
Eligibility Requirements
- Non-EU/EEA national aged 18 or older
- Clean criminal record
- Valid health insurance covering Greece
- Proof of lawful source of investment funds
- No requirement for minimum stay in Greece to maintain residency
Benefits
- 5-year renewable residence permit
- Visa-free travel across the Schengen Area
- Include spouse, children under 21, and parents of both spouses
- No minimum stay requirement to maintain status
- Right to live, but not work as an employee, in Greece (self-employment permitted)
- Access to Greek education and healthcare systems
- Path to permanent residency after 5 years and citizenship after 7 years (with residency and language requirements)
Application Process
- Select and purchase a qualifying property or make the required investment.
- Obtain a Greek tax number (AFM) and open a Greek bank account.
- Complete the property transaction through a notary.
- Submit the Golden Visa application at the Decentralized Administration or through a lawyer.
- Provide biometric data and supporting documents.
- Receive an interim residence certificate while the permit is processed.
- Collect the 5-year residence permit (typically issued within 2 to 3 months).
Fees and Costs
Application fee: EUR 2,000 per main applicant, EUR 150 per dependent. Additional costs include property transfer tax (3.09%), notary fees, legal fees, and property registration costs. Budget approximately 8 to 10% of the property value for total transaction costs.
Processing Time
The Golden Visa application is typically processed within 2 to 3 months after submission. An interim residence certificate is issued immediately, allowing legal stay during processing.
Frequently Asked Questions
Do I need to live in Greece to keep my Golden Visa?
No. Greece's Golden Visa has no minimum stay requirement. You can maintain your residence permit without physically living in Greece, as long as you keep your qualifying investment.
Can I rent out my Golden Visa property?
Yes. You can rent out your property, including as a short-term rental (Airbnb), and earn rental income. This can help offset the cost of the investment.
Can I get Greek citizenship through the Golden Visa?
The Golden Visa itself does not lead directly to citizenship. However, after 7 years of legal residency (with actual physical presence requirements) and passing a Greek language and culture test, you may apply for naturalization.