Step-by-step Guide on Obtaining a Greek Golden Visa by Investment

Greece has become one of the most popular tourist destinations in the world, with its instagram worthy sunsets, rich culture and heritage, and its famous blue and white island homes. In 2024, the country was visited by more than 36M people, and in addition to tourists coming for holidays, Greece is increasingly chosen for relocation, with people moving here for the warm climate, relatively low prices and European quality of life.

Greece offers a Golden Visa Programme, which allows you to obtain a renewable 5-year residence permit for the entire family for an investment of €250,000. At the moment, this is one of the most accessible and fastest immigration initiatives in Europe.

The most important thing is that the programme does not require the investor to move to the country permanently. This is a unique opportunity to travel around Europe, come to Greece at any time of the year and enjoy all the benefits of European residency.

We look into everything you know about the Greek Golden Visa, including how to get a residence permit in Greece for investments, what advantages the programme provides, and what requirements are imposed on investors.

Why Should You Consider a Residence Permit in Greece via Investment?

In addition to the opportunity to legally live in the country for a long period of time, a Greek residence permit provides its holder with a wide range of benefits, including:

• Visa-free travel to Schengen countries
• Access to international banks
• Possibility of freezing assets
• Access to European education and quality healthcare
• Opportunity to do business in Europe
• Possibility of obtaining citizenship in the future – subject to certain conditions being met

Unlike other ways to obtain a Greek residence permit – such as through employment or a digital nomad visa – an investment residence permit does not require permanent residence in the country.

The Golden Visa does not entail a change of tax residency or relocation to Greece, unless the investor plans to move the centre of his or her vital interests to another country.

Thus, the Golden Visa becomes a convenient tool that significantly expands the list of personal freedoms and opportunities.

Another benefit of an investment residence permit is the opportunity to take advantage of the Non-Dom preferential tax regime, with investments of €500,000 or more. The regime allows you to replace income tax with a fixed annual contribution of €100,000, which is obviously much more advantageous for high-income foreigners than paying income tax at the standard maximum rate of 44%. To change your tax residency to Greek, you must spend at least 183 days a year in the country, so the regime is suitable for those planning to move to the country.

The residence permit is issued for 5 years with the possibility of subsequent extension, provided that the investment is preserved, and after 7 years, you can apply for Greek citizenship. To do this, you will need to meet the requirements for the minimum period of stay in the country and pass an exam on knowledge of the state language and local laws and traditions.

In addition, along with the main investor, members of their family, including children, spouses and parents of both sides, can receive a residence permit for investment – they just need to be indicated in the application.

Who is Eligible for the Greek Residence Permit by Investment Programme?

First of all, the programme is perfect for those who value freedom of movement, as a Greek residence permit will allow you to travel freely across the Schengen area.

It is also a great option for investors looking to diversify their assets. Buying real estate in Greece is not only an option for obtaining a residence permit, but also a potentially profitable investment in a promising European market.

The programme is also suitable for those who plan to give their children a European education. With a residence permit, you will be able to gain access to the Greek education system, enjoy countless benefits and more easily enter other European universities.

Finally, a Greek residence permit is a backup for those who want to ensure security and stability for themselves and their families in the future. It is an opportunity to have a plan B in a rapidly changing world.

Basic Requirements for Obtaining a Residence Permit in Greece

The requirements for investors within the programme are quite lenient. The applicant must:

• Not be a citizen of Greece, the European Union or the European Economic Area
• Have no criminal record
• Have no entry restrictions or residence permit denials in other EU countries
• Have a Greek health insurance policy

In addition, you will need to provide a fairly simple package of documents and make investments within the framework of the selected participation options.

Minimum Investment to Obtain a Residence Permit

The minimum threshold for participation in the Greek Golden Visa programme is €250,000, which is relevant for the option of purchasing local real estate, subject to certain conditions.

In addition, it is necessary to take into account additional expenses, including legal support, registration of medical insurance, translation of documents, payment of notary services and necessary fees, etc. Depending on which option you choose and the number of family members indicated in the application, the amount of expenses may vary. All expenses will cost approximately 10% of the total amount.

VAT in Greece is 24%, but for real estate transactions this is frozen throughout the country. The buyer only pays the property transfer tax, which is just 3.09%.

Real Estate and Other Investment Methods

There are several investment options available under the Greek Golden Visa programme.

Buying Greek Property

An investor can purchase one property with an area of ​​at least 120 m². From September 1, 2024, Greece is divided into 2 investment zones with different entry thresholds for participants:

• €800,000 – properties in Athens, Attica, Crete, Mykonos, Santorini, Rhodes and other Greek islands with a population of over 3,100 people
• €400,000 – all other regions of Greece

There is an option whereby you can obtain a residence permit by purchasing real estate worth at least €250,000. This is possible if the real estate has a cultural or historical value and needs restoration, or if the real estate is changing its purpose from commercial to residential and is being reconstructed by the developer.

Projects under the real estate reconstruction programme have become the most interesting areas for investors planning to participate in the visa scheme.

Renovated real estate is not just a cosmetic renovation, but a complete transformation of commercial buildings (for example, old hotels or business centres) in order to bring them up-to-date and in line with modern standards of comfort, safety and energy efficiency.

The developer buys the building and completely renovates it by remodeling it, installing modern balconies, creating recreation areas including lounges, swimming pools or terraces, and installs modern thermal insulation materials and energy-efficient heating and air conditioning systems.

This means that the building will meet high environmental standards, providing excellent thermal insulation and energy savings, which will ultimately reduce utility costs. The documents indicate the year of reconstruction, not the year of construction of the original building. A reconstructed building is not inferior to a new building in quality, as it provides a high level of safety, low operating costs and comfortable living conditions for its new inhabitants. 

The largest number of these types of properties are located in Athens and the Attica region, which means that you can obtain a residence permit and be the proud owner of modern, and highly profitable real estate for an investment of €250,000 in a popular region with the highest entry threshold for investors.

In addition to purchasing real estate, there are other options for participating in the Greek Golden Visa programme, including:

• Purchase of shares of an investment fund investing in Greek shares, corporate bonds or government bonds – to the amount of €350,000 or more.
• Purchase of Greek government bonds with a maturity of at least 3 years, purchased through a Greek credit institution – to the amount of €500,000 or more.
• Purchase of shares, corporate bonds or Greek government bonds traded on Greek markets – from €800,000.
• A 10-year lease agreement for hotel accommodation or furnished tourist residences worth at least €400,000 or €800,000, depending on the investment region.

Buying real estate seems to be a more effective solution when choosing the option to participate in the Golden Visa programme. Together with the EU resident status, the investor receives his/her own residence on the Mediterranean, which can be rented out for long term periods, receiving a stable passive income between 4-6% per annum, or used as a personal residence.

How to Receive a Residence Permit in Greece Through Real Estate Investment: Step-by-Step Process

The procedure for obtaining a Golden Visa in Greece is carried out with full support from experts and lawyers from Astons.

Step 1: Selecting the Right Investment Programme

During the consultation, our specialists will conduct a preliminary check of the investor and provide a portfolio of properties that meet your criteria. You can then inspect the selected properties in person or entrust this to a dedicated expert from Astons. After choosing a property, you can then make a deposit of 10% to reserve it for yourself.

Step 2: Preparation and submission of documents

Our lawyers will help to collect and prepare a full package of documents for your application. At this stage, it is necessary to sign the final purchase and sales agreement; this can also be done by our company’s lawyers on the basis of a power of attorney.

After signing the contract, you will then need to pay the full amount of investment, any taxes and government fees, and purchase health insurance. Then our lawyer submits an application for a residence permit electronically – the presence of the investor is not required.

Step 3: Obtaining a Temporary Residence Permit

After submitting the application, the investor and his/her family members receive a temporary residence and entry permit to Greece – White Paper. This is valid for 12 months from the date of issue.

Step 4: Obtaining a Residence Permit

Within a year of receiving the White Paper, all family members over 6 years old must come to Greece to submit biometric data. After this procedure, an Astons lawyer will receive the residence permit cards and send them directly to your address of residence, or you can receive the resident cards in person.

Astons’ experts will provide full support during the process, as well as solving all issues that may arise- from selecting real estate and preparing documents, to travelling to Greece to submit biometrics and issue residence permit cards. Contact our experts for a free consultation today.

Important Points to Consider When Obtaining a Residence Permit

When choosing a programme, there are several key factors to consider: the time it takes to obtain residency status, investment requirements, tax advantages, business opportunities, and conditions for family members. Each country offers unique conditions that may be decisive in achieving your goals.

You should also pay attention to any additional costs beyond the cost of the property.

Those buying real estate in Greece do not pay VAT, but they bear the following costs for payment of taxes and special contributions:

VAT for real estate transactions has been frozen throughout Greece since 2020, in order to stimulate the real estate market.

Another important aspect is tax residency. In Greece, as in many European countries, tax residency status is acquired if you spend at least 183 days a year in the country. This means that after receiving a residence permit and living in Greece for most of the year, you are required to pay taxes on income earned both in Greece and abroad. Therefore, it is important to carefully study the Greek tax legislation and consult with a specialist to correctly assess your tax obligations. This will allow you to avoid any surprises and plan your budget taking into account all expenses that you are obliged to pay.

Greece’s Golden Visa: Features and Prospects for 2025

As of 2025, Greece’s Residence by Investment programme remains one of the most sought-after in Europe. Over the past two years alone, Greece has welcomed over 1,200 high-net-worth individuals, making it the eighth most popular destination for millionaire relocation in the world.

However, attitudes towards investment immigration programmes are deteriorating in Europe. For example, over the past two years, Spain has closed its Golden Visa programme, and Portugal has excluded the possibility of buying real estate from the participation options. Another blow is the EU Court has ruled that Malta’s Citizenship by Investment programme, which was the last of its kind in Europe, has now been closed.

In Greece itself, the government has already increased the minimum participation threshold twice, and at the same time banned the short-term rental of real estate acquired under the programme.

Following the announcement of the closure of the Golden Visa programme in Spain on April 3, interest in the Greek programme has skyrocketed. As a result, investment migration experts fear a repeated increase in the entry threshold for investors and possible new conditions. At the same time, the opportunity to obtain a Greek residence permit for €250,000 is still available – but only in reconstruction projects. These are the projects that are in the greatest demand today.

Moving to Greece: What You Need to Know for a Successful and Seamless Transition

Greece is an attractive destination for those who value stability, security and high quality of life combined with a favourable climate and developed infrastructure.The country has a rich historical and cultural heritage, a mild Mediterranean climate and picturesque natural landscapes that create a comfortable and harmonious living environment for everyone to enjoy.

According to independent assessments, including The Economist, Greece is one of the fastest growing economies in Europe, with experts noting its sustainable economic growth, which is expected to continue in the medium term. The country’s unique geographical location at the crossroads of Europe, Asia and Africa, make it strategically advantageous for both travel and international business development.

The level of expenses for everyday life in Greece is significantly lower compared to a number of other Western European countries, which means the average monthly expenses for one person (excluding rent) are about €800, and for a family of four – about €2750. For comparison, Italy costs around €890 and €3100, in Germany – €1000 and €3400, and €965 and €3300 in Great Britain.

The minimum wage in Greece is set at €910, while qualified specialists working in high-demand industries can expect an income of between €2,000–3,000 and above.

The country’s largest cities have all the conditions needed for a comfortable life, including a well-established transport system, modern medical infrastructure, high-quality educational institutions, developed trade and entertainment sectors, as well as access to fresh produce at farmers’ markets, so you can make the most delicious home cooked meals with the best ingredients.

The education system in Greece complies with pan-European standards, with both citizens and residents having the right to free education at all levels, including higher education. The public health care system provides free medical care, and if desired, you can take out additional private insurance to access a wider range of medical services.

Greek society is known for its openness, hospitality, and commitment to family and cultural traditions. Knowledge of English is common in large cities, but learning Greek is recommended for full integration into the everyday and business environment. Inexpensive language courses are available to foreigners, allowing you to master basic communication skills within a short time.

H2 – Conclusion: Is it Worth Investing in a Greek Residence Permit?

Deciding to obtain a new immigration status is a serious step that requires careful consideration of all the pros and cons. Like any country, Greece has its own peculiarities and difficulties that you will have to face.

However, there are many more advantages: the prospect of living in a safe and comfortable country with beautiful nature, a rich history and friendly population, combined with opportunities for business development and improving your quality of life. All this makes obtaining a residence permit for investment in Greece a very promising and profitable solution for many investors.

Perhaps Greece will be the country that will open new horizons for you and give you a happy future for you and your family to enjoy.

To learn more about all the details of obtaining a residence permit in Greece, contact our Astons experts for a free consultation today.