Greece’s Golden Visa program has been, for many, the best doorway to a beautiful way of life and access to all the benefits of living in an EU country.

But of course, the program puts one major hurdle in front of you: making a qualifying investment.

For most people, they want that investment to not only qualifying for the program but also make some kind of return.

In this guide, we’ll look at both sides of the coin.

Greek Golden Visa Eligibility and Benefits

First, a quick rundown of why this is so popular.

Greece’s Golden Visa offers residency to non-EU/EEA nationals aged 18 or older who make certain qualifying investments.

To successfully apply, you must pass a background check demonstrating no criminal history and maintain good character. You’ll also need to prove you have comprehensive private health insurance covering Greece and medical clearance for communicable diseases. Finally, you must show proof of legal investment funds and pose no security risk.

An attractive benefit is family reunification, which allows you to bring your spouse, children under 21, and parents (and even parents-in-law)—so long as everyone passes the background check and has medical needs taken care of.

Learn more about eligibility requirements for the Greece golden visa here.

Real Estate Investment Options

Real estate investment is the primary route for the Golden Visa. Recent changes introduced tiered investment thresholds:

  • €800,000 Minimum: Applies to prime locations like Athens, Thessaloniki, Mykonos, and Santorini. Investments must be in a single property.
  • €400,000 Minimum: Applies to most other regions, allowing multiple properties combined to meet the threshold.
  • €250,000 Minimum: Special projects, including converting commercial properties to residential or restoring listed heritage buildings.

 

Additionally, long-term leases (minimum 10-year agreements) for tourist accommodations meeting these thresholds qualify for the Golden Visa.

Alternate investments, such as bonds or bank deposits (€500,000+), are permitted but less common due to higher minimums.

Application Process

Step 1: Find a Property

After choosing an eligible property, investors typically sign a preliminary agreement and secure a Greek tax ID number (AFM). Professional legal assistance for due diligence is highly (and we mean highly) recommended.

Step 2: Buy a Property

Complete the property purchase through a notary, paying the full amount with a traceable bank transfer. Property transfer taxes (typically 3%) and registration fees apply.

Step 3: Get Your Documents

Gather essential documents:

  • Passport copies
  • Health insurance proof
  • Criminal background check
  • Medical certificate
  • Passport-sized photos
  • Property purchase agreement
  • Payment evidence

 

All foreign documents must be translated into Greek and apostilled/legalized.

Step 4: Apply

Submit your application through Greek immigration authorities, either personally or through a legal representative with power of attorney.

At first, you’ll get a temporary “blue certificate” that gives you residency during the processing period.

Step 5: Biometrics

Within six months, all applicants must visit Greece to provide biometric data (fingerprints and photographs).

Step 6: Get Your Residence Permit

Upon approval, typically within 2–4 months after your biometric appointment, a five-year residence card is issued.

Obviously, prepare for delays. Hiccups can occur due to high application volumes.

How Long Is the Golden Visa Valid and Can I Renew It?

The Golden Visa residence permit is valid for five years and can be renewed indefinitely, as long as you maintain the qualifying investment. No minimum residency period is required to renew.

Tax Implications

  • Property Purchase Tax: Typically 3% transfer tax; VAT on new properties is temporarily suspended until 2025.
  • Annual Property Taxes (ENFIA): Calculated based on property value and location, with exemptions available for heritage properties.
  • Rental Income Tax: Long-term rental income is taxed progressively (15%–45%). Short-term rentals are prohibited.
  • Residency Status: Non-tax-residents (less than 183 days/year in Greece) pay taxes only on Greek-sourced income. Residents are taxed globally but can opt for a lump-sum €100,000 annual tax on foreign income under certain conditions.

 

Learn more about tax liability in Greece.

Most Popular Regions to Investment In

  • Athens: Prime investment area with diverse properties from historic apartments to luxury seaside villas.
  • Thessaloniki: Rapidly growing property market. It’s a blend of historic and modern housing that makes for a strong rental market.
  • Crete: Popular island offering varied property types and strong tourist appeal, mostly at the €400,000 threshold.
  • Greek Islands: Exclusive properties with high capital appreciation potential. Prime islands like Mykonos and Santorini have higher investment requirements (€800,000).

Pathway to Citizenship

Greek citizenship isn’t automatic through the Golden Visa. Investors must:

  • Reside in Greece for seven consecutive years (minimum 183 days per year)—which the Golden Visa makes easy
  • Demonstrate proficiency in Greek language and knowledge of Greek culture/history as determined by an official test
  • Show active integration into Greek society and fulfill tax obligations

 

For those curious, it’s also worth noting that dual citizenship is permitted.

Learn more about how to get Greek citizenship.

Recent Updates to the Program

  • Increased Investment Thresholds: Now €800,000 in prime areas, €400,000 elsewhere, to cool market inflation.
  • Short-Term Rental Restrictions: Golden Visa properties cannot be rented short-term (e.g., Airbnb), protecting local housing.
  • Heritage Incentives: Lower investment threshold (€250,000) preserved for historical building restoration.
  • Digital Processing: Improved online systems reduce physical presence requirements, except for biometrics.

 

Despite stricter rules, Greece’s program remains popular due to manageable investment levels and strong lifestyle appeal.

Live in Greece With a Single Investment

Among the Golden Visa programs in Europe, Greece has a particularly popular option. The main reason? Probably just how beautiful the country is and how enjoyable living here can be.

Learn more about the Golden Visa program and how you can leverage it to become a full dual citizen in Greece by scheduling a free consultation call with our team today.