Greece Residence Permit
Greece Golden Visa Programme for living by the sea and travelling across Europe without visas
About the Greece Golden Visa Programme
Greece has a state Greece Golden Visa Programme, which offers foreigners residence permits by investment. Since 2014, the Greek government has approved about 10,000 investors’ applications.
Program participants get residence permit cards valid for five years. Greece is the only EU country to issue first residence permits with such a long validity period. In comparison, Spain and Portugal issue their first residence permits for two years, and other countries — for a year.
Investors don’t have to live in the country, have any proficiency in the Greek language or take a history exam.
Law No. 4251 dated 1.04.2014 regulates the requirements of the Greece Golden Visa Programme.
€250,000 Minimum investment amount without including associated costs
6+ months Time frame for obtaining a Greece residence permit by investment
Requirements for program applicants
8 facts about the country
Conditions of the Greece Golden Visa Programme
Investors choose between six investment options to participate in the Greece Golden Visa Programme. The most popular option is purchasing residential or commercial real estate. €250,000 is the minimum property price to qualify for the Golden Visa Programme. However, this threshold for the real estate purchase will double to €500,000 on August 1st, 2023. The change will affect 36 municipalities, including Athens, Thessaloniki and Santorini. Investors can rent out the properties and sell them in 5 years to return the invested money. An investor becomes a Greek tax resident if they spend more than 183 days a year in the country. In this case, the new tax resident becomes eligible for incentives: to pay a flat tax of €100,000 per year on global income. The investor’s close relatives can also benefit from the incentives and pay €20,000 annually. It’s not necessary to live in Greece to maintain residency. 6 options Available investments under the Greece Golden Visa Programme
5 years Holding period before returning the invested money under most options
Benefits of the Greece residence permit
- Freedom of travel — 30+ visa-free countries Greek residents can visit the Schengen and EU countries without visas. The allowed period of visa-free stay is 90 days out of 180.
- Choice of the place of living: the country of citizenship or Greece Investors are not obliged to live in Greece to get and keep a residence permit.
- Prospect of Greece citizenship The investor can get permanent residency after five years of living in Greece and apply for citizenship after two more years.
- European education for children Investors’ children can study at Greek schools and universities without getting a special residence permit for students.
- Tax optimisation Foreign investors can benefit from tax incentives and pay a flat tax on global income.
Investment options and expenses
1- Purchasing real estate €277,300+
An investor buys residential or commercial real estate in Greece for at least €250,000. The property can be registered to the investor or a company if registered in the EU,
and the investor owns 100% of the shares.
The minimum investment sum might increase if the investor includes a partner without being officially married. In this case, each partner invests at least €250,000, raising the minimum investment sum to €500,000. The increase can be avoided if the partners sign a domestic partnership agreement in Greece.
The total expenses depend on the property value and the number of additional applicants.
Associated costs like banking fees, delivery of documents, and other services depend on the investor’s place of residence and bank tariffs.
| Investor | Extra charges per family member | |
| Real estate purchase | €250,000 | €0 — if the investor is officially married or has a signed domestic partnership agreement with their partner |
| Fees, taxes, translation of documents, services of a lawyer and a notary when purchasing real estate | €25,000+ — about 10% of the property value | – |
| State fee | €2,000 | €150 |
| Medical insurance | €300 | €300 |
| Total | €277,300+ | – |
Option-2 : Renting a hotel or a touristic residence for 10 years €250,000+
Option-3 : Purchasing a land plot for construction or agricultural activities €250,000+
Option-4 : Timeshare for 10 years €250,000+
€250,000+An investor concludes a contract, which gives the right to use the property within specific periods, for example, 1st to 30th of August each year for 10 years
Option-4 : Inheriting or receiving property as a gift €250,000+
Option-5 : Inheriting or receiving property as a gift €250,000+
Option-5 : Purchasing securities or depositing money in a bank €400,000+
Examples of residential properties in Greece
Apartments in a new residential complex by the sea €419,000+
he residential complex is in the prestigious area of Alimos. The apartments are within walking distance from the sea and the new metropolitan park Hellinikon.
For sale are apartments with an area of 67 m².
Apartments in a gated residential complex by the sea €513,000+
For sale are apartments and duplexes in a 6-storey building. Layouts include one to three bedrooms and bathrooms. The sea view opens from apartments on the 3rd floor and above.
The apartments are in Athens, two kilometres from the sea.
Apartments in a residential complex with a swimming pool €585,000+
The residential complex is in the elite area of Athens, Nea Filothei. A two-storey maisonette with mountain views and apartments with a view of the Acropolis are for sale.
The property area is 142+ m².
Examples of commercial properties in Greece
Service apartments with a sea view €120,000+
The project is a new complex with serviced apartments in Piraeus. Being close to the university and the industrial area of Piraeus, apartments can be rented out for the long and short term to students and business travellers.
One-bedroom apartments of 39 to 52 m² are for sale. The annual yield is 3—6%.
Apartments in a hotel complex by the sea €250,000+
The hotel is on the seafront in Paleros Bay. For sale are apartments in a hotel complex managed by HotelBrain Group.
Investors receive a guaranteed annual yield of 6% for 5 years.
Hotel apartments in the historical centre of Athens €332,000+
7-storey building with apartments under hotel management represents the project. On the hotel’s roof is a seating area with panoramic views of the Acropolis.
One-bedroom apartments with a total area of 57 m² are available for purchase. The annual yield is 4%.
How to get a Greece Golden Visa
Preliminary Due Diligence
A certified Anti Money Laundering Officer reviews
the investor’s documents and assesses potential risks.
The check is confidential and requires only a copy of the investor’s passport.
The preliminary Due Diligence check helps to reduce the rejection risk to 1%.
Purchasing real estate
Immigrant Invest experts help the investor select a property. When the choice is made, they help to close the deal. An attorney acts on the investor’s behalf in Greece. The attorney registers a tax number for the investor and checks the legal purity of the transaction.
The investor or the attorney can sign a sale and purchase agreement. After that, the attorney submits the agreement to the Land Register and receives
a registration certificate. The buyer receives the full package of documents with an officially certified translation.
Preparing documents and applying
The preparation of documents takes place simultaneously with selecting and purchasing real estate.
The investor gets medical insurance and provides lawyers with the required documents and photos. The Immigrant Invest lawyers fill in government forms, translate the documents, notarize copies, and help to pay fees.
The documents are submitted to a specialised Ministry of Immigration and Asylum department. The investor, their spouse, an adult relative, or a trusted attorney can apply. The applicant gets a certificate, which allows the holder to stay in the country for
a year.
Biometrics is submitted on the application day. If the investor can’t come to Greece and an attorney applies on their behalf, the submission of biometrics is scheduled for another day.
A residence permit cannot be issued without biometric data.
A tourist visa is used for entry if the investor
has bought a property. If the investor has chosen another program option, they need a national
D visa.
Receiving residence permit cards
An application for a Greece residence permit is processed within 1—2 months. The investor can collect a residence permit card by themselves or delegate it to an attorney. The investor provides an international passport to collect residence permits and returns the certificate received upon application
Renewing the residence permit
The Greece residence permit is valid for five years. Upon expiration, it can be renewed. An application and documents for renewal must be submitted within two months before the expiration date. Investors mustn’t sell the investment property if they plan to renew their residence permit.
The investor can apply for permanent residency five years after getting the first residence permit. The applicant must have lived in the country for five years to qualify for permanent residency. It’s not allowed to spend outside Greece more than six months in a row or ten months during the whole period.
Obtaining a Greece residence permit with Open Window
- Open Window is an official representative of the Greece Golden Visa Programme.
- We accompany our clients from the first consultation to the residence permit renewal five years later.
- We provide extra services: help to buy one more property, register tax residency, add new family members to the program, and prepare documents for obtaining a permanent residence card.
