The Greece Golden Visa program is one of the most attractive residency-by-investment schemes in Europe. It offers non-EU nationals the opportunity to obtain a renewable five-year residence permit in exchange for a qualifying investment — typically in Greek real estate. With no residency requirement and the ability to include family members, the program continues to gain global interest.
What Is the Greece Golden Visa?
The Greece Golden Visa allows foreign investors to legally reside in Greece by making an eligible investment. While the program originally focused on real estate, it has since expanded to include other options such as capital contributions and long-term leases. Importantly, the visa also grants visa-free access to the Schengen Area, making it popular among international investors, retirees, and frequent travelers.
For official program details and updates, visit the Greek Ministry of Migration’s Golden Visa page.
Key Benefits of the Greece Golden Visa
- No Physical Residency Requirement: You don’t need to live in Greece to maintain the permit.
- Schengen Mobility: Travel freely across 27 countries in the Schengen Zone.
- Family Inclusion: Spouse, children under 21, and both sets of parents can be included.
- Flexible Investment Routes: Real estate, financial assets, or business contributions qualify.
- Renewable Every 5 Years: As long as the investment is maintained.
- Pathway to Citizenship: Eligible after 7 years of residency and fulfilling other conditions.
Investment Options for the Greece Golden Visa
As of recent legal updates, there are three primary investment tiers:
| Investment Type | Minimum Amount | Conditions |
|---|---|---|
| Real Estate (Low-Density Areas) | €250,000 | Property purchase or restoration in most regions |
| Real Estate (High-Density Areas) | €400,000–€800,000 | Applies to Athens, Thessaloniki, Mykonos, Santorini, and large islands; must be a single property ≥120 m² |
| Alternative Options | €400,000–€500,000 | Includes capital contributions, bonds, or long-term leases |
Note: The €250,000 threshold remains available for commercial-to-residential conversions and listed buildings.
Eligibility Criteria
To qualify for the Golden Visa, the applicant must:
- Be a non-EU/EEA national aged 18 or older
- Have a clean criminal record
- Hold valid health insurance for Greece
- Make and maintain a qualifying investment
- Submit all required documentation through authorized channels
How to Apply for the Greece Golden Visa
- Select Investment Type
Choose between real estate, financial assets, or other eligible options. - Obtain Greek Tax ID and Bank Account
Usually done through a legal representative in Greece. - Complete Investment Transaction
Finalize property purchase or transfer funds into eligible investment. - Prepare Documentation
Include passport copies, proof of funds, insurance policy, criminal record, health certificate, and official translations. - Apply for Residence Permit
Submission can often be done via proxy; a one-year “blue certificate” is issued initially. - Visit Greece for Biometrics
Required within six months of application submission. - Receive Golden Visa
Final residence permit is issued within a few months of the biometrics appointment.
Can Golden Visa Holders Work in Greece?
No, the residence permit granted under the Golden Visa program does not allow employment in Greece. However, holders may start or own businesses and receive income from investments or rentals (long-term only). If you’re planning to employ staff in Greece or Turkey, consider reading about our Employer of Record (EOR) services.
Renewal and Citizenship
The Golden Visa is renewable every 5 years, as long as the investment is held. For those aiming for Greek citizenship:
- 7 years of continuous residency is required
- The applicant must demonstrate integration, including Greek language proficiency, knowledge of history and culture, and active tax residency
- Physical presence in Greece (183+ days per year) is mandatory to count toward naturalization
Restrictions and Considerations
- Short-Term Rentals Prohibited: Properties acquired under the program cannot be used for Airbnb or similar platforms. Violation results in fines up to €50,000.
- Application Backlogs: Due to high demand, some investors face delays of over 12–18 months.
- Market Volatility: Property values in popular regions may be inflated due to foreign demand.
Frequently Asked Questions (FAQ)
Can I include my family in the application?
Yes. You can include your spouse, children under 21, and both parents and in-laws.
Do I need to live in Greece to maintain the Golden Visa?
No. There is no minimum stay requirement to keep your residence permit valid.
Can I rent out the property I purchase?
Yes, but only for long-term leases. Short-term rentals (e.g., Airbnb) are prohibited under this program.
Is there a path to Greek citizenship?
Yes, after 7 years of tax residency, including language and cultural requirements, you may apply for citizenship.
How long does the application process take?
The timeline can vary, but expect anywhere from 6 to 18 months depending on application volume and investment type.
What if I sell my investment property?
If you sell your property without replacing it with another qualifying investment, your Golden Visa will be revoked.