GREECE

GOLDEN VISA

The Greek Golden Visa Program, initiated in 2013, presents an exclusive chance for non-EU citizens and their families to acquire a five-year residency by investing in real estate. Through this program, investors can gain a renewable Greece Residence Permit, enabling them to enjoy extended stays in the country.

To qualify for the Greek Residency, the Government has stipulated two different property investment category levels for Residential Real Estate, depending in which area it is located in.

Citizenship Invest has an inventory of pre-checked projects to ensure all necessary permits are in place to qualify an applicant for the Residency visa. The inventory is continuously updated according to availability and new offers. Investors must purchase the property before submitting the Residency application..

CITIZENSHIP INVEST IS YOUR TRUSTED PARTNER
TO OBTAIN THE GREEK GOLDEN VISA

Citizenship Invest ensures the highest success rates through experience and a solid track-record with the different Governments. Every year, we help hundreds of individuals and families to acquire a second residency or citizenship by investment. Citizenship Invest successfully helped clients from over 85 countries around the globe. Most importantly, we have a long-term view of ‘client-advisor’ relationships and commit to our clients for life.

PROGRAM OVERVIEW

On 18th April 2013, Greece introduced Law 4146/2013 giving Non-EU citizens and their family members the right to obtain Residency Permits by investing in Real Estate in Greece. The allowance for these types of residency permits has been integrated into the existing Law 3386/2005 “Entry residence and social integration of third-country nationals in Greece.”

According to Article 36A of the Law, a five-year Residency Permit can be granted to Non-EU citizens who own or purchase real estate in Greece, the value of which exceeds 250,000 euros. In July 2015, Greece introduced new amendments to Law 4251/2014 under the Law 4332/2015, giving Non-EU citizens the right to obtain citizenship if they reside in Greece for 7 consecutive years, providing they stay in Greece for a minimum of 180 days for each year.

PROGRAM BENEFITS

SIMPLE PROCESS

Residing in Greece is not a required.

An interview or language proficiency test is not required.

There is no requirement for education or management experience.

GLOBAL MOBILITY

The Greek Golden Visa offers visa-free travel within the Schengen area without further documentation or visas.

The program also allows you to stay in any other Schengen country for up to three months every six months, with the right to multiple entries.

Holding the Greek residency by investment for seven years qualifies you to apply for citizenship.
WEALTH PROTECTION

Non-residents are not subject to income tax in Greece, except for rental income generated from the property in Greece.

Irrevocable European Citizenship and passport after 7 years of receiving a taxable income in Greece and subject to proving a strong bond with the country & passing specific tests such as the Greek Citizenship Test which covers Greek language, politics, history and culture.

VISA-FREE TRAVEL FOR GREECE GOLDEN VISA

The Greek residency permit allows visa-free travel to Europe including 29 countries in the Schengen zone.

33
COUNTRIES

The Greek residency permit allows visa-free travel to Europe including 29 countries in the Schengen zone.

EUROPE
  • Austria
    Belgium
    Bulgaria
    Croatia
    Cyprus
    Czech Republic
    Denmark
    Estonia
    Finland
    France
    Germany
    Greece
    Hungary
    Iceland
    Italy
    Latvia
    Liechtenstein
    Lithuania
    Luxembourg
    Malta
    Monaco
    Netherlands
    Norway
    Poland
    Portugal
    Romania
    San Marino
    Slovakia
    Slovenia
    Spain
    Sweden
    Switzerland
    Vatican City

*The list of countries is subject to variations depending on each government's policy and so is access to these countries.

INVESTMENT TYPE AND COSTS

To qualify for Greek residency, the Government has stipulated specific investment categories for residential real estate. Citizenship Invest offers an inventory of pre-approved projects to ensure that all necessary permits are in place, qualifying applicants for the residency visa. This inventory is continuously updated based on availability and new opportunities. Investors must purchase a property before submitting their residency application.

REAL ESTATE INVESTMENT

Effective September 1st 2024, the Greece Government has specified in Article 100 of Law 5038/2023 as amended by the new modification in March the following investment categories for residential real estate to qualify for Greek Golden Visa.

  • CATEGORY 1
    Properties located in the regions of Attica, which includes Athens and Piraeus, Thessaloniki, Central Macedonia, Mykonos, and Thira in the South Aegean Region including Santorini, as well as islands with a population exceeding 3,100.
    EUR 800,000
  • CATEGORY 2
    Properties in all other regions of Greece, excluding those listed in Category 1.
    EUR 400,000
  • CATEGORY 3
    Industrial buildings or parts thereof where no industry has operated there for at least five years and the property is converted into residential use OR listed buildings or parts of listed buildings that are to be restored or reconstructed.
    EUR 250,000

GOVERNMENT FEES

There are government fees to pay in addition to acquiring real estate.

  • Main Applicant EUR 2,016
  • All applicants 16 years and above EUR 166
  • All applicants below 16 years EUR 16
OTHER COSTS

Along with the required investment, there are additional costs associated with the Greece Residency by Investment Program. These include Citizenship Invest's professional fees, document certification fees (where applicable), courier charges, and other minor disbursements. For more details, please get in touch with us.

APPLICATION PROCESS AND TIMELINE

  • WEEK
    1-2

    Retainer Agreement and Property Selection

    Your first two weeks of obtaining the Residency with Citizenship Invest (CI) involves the following:


    Sign CI Retainer Agreement and make the first payment of CI Professional Fees.


    Select a property in Greece (can be done remotely). Once property is selected, CI will prepare the property purchase documentation required for the Residency application.


    WEEK
    1-2

  • WEEK
    4-8

    Property Purchase and Residency Documentation Submission

    Once the required property purchase documents are ready, applicants to transfer the funds for the property purchase and taxes.


    CI will submit the residency documentation to the government. Applicants must pay Government Fees and Application Processing Fees at this point.


    Additionally, CI Professional Fees for file submission is also payable.


    WEEK
    4-8

  • MONTH
    3-6

    Residency Permit Approval and Issuance

    Residence approval is issued.


    Clients must travel to Greece to have their biometrics taken.


    Client to pay final CI Professional Fees before issuance of the residence permit.


    CI will courier your residency cards to your address.


    MONTH
    3-6

The time frame for obtaining the Greek Golden Visa approval depends on the processing time for due diligence and the individual's case.

DOWNLOAD
GREEK RESIDENCY
BROCHURE

CONTENT
  • Program Overview
  • Citizenship Law
  • Benefits of the program
  • Applicants Qualifications
  • Investment requirements
  • Application Fees
  • Document Checklist
  • List of countries Visa free and on arrival
DOWNLOAD

15 pages 700Kb

Eligibility requirements

Non-EU Citizen

The applicant must be a non-EU citizen.

Real Estate Investment

Make a minimum real estate investment of €250,000.

Good Character

Applicants and family members must have a clear criminal record and sufficient financial resources.

Visit

Applicant must have visited Greece at least once before applying for the Golden Visa.

REQUIRED DOCUMENTS

At Citizenship Invest, we assign a dedicated Document Collection Specialist for each case, streamlining the application process and reducing paperwork. We can also obtain the necessary documents on behalf of our clients if requested. Please note that the following list is for guidance only, not legal advice. After assessing your case, we create a customised checklist for a hassle-free document collection process.

  • Certified copy of valid passport
  • Schengen Visa
  • International health insurance policy that provides full hospitalisation coverage in a Greek public hospital and covers medical care expenses for the entire duration of your stay.
  • Valid Medical Travel Insurance for at least the duration of the Greek Tourist Visa (1 year) and covers medical costs and repatriation in all Schengen countries.
  • To visit Greece, you need a birth certificate with Greek/English translation, legalized by the Greek Consulate. If your father’s name is missing, include a family address book. Flight ticket reservation is optional.
  • Provide proof of accommodation or an invitation letter. Bring three passport-size photos.

Proof of Address:

  • Provide an official Utility Bill showing the residential address. And you must obtain an official English or Greek translation and legalise it with the Greek Consulate of Residence.

Proof of Work and Income:

  • Proof of work or evidence of personal company and income is required.
  • The official document should also prove the applicant’s work address, type of work, and annual income. And you must obtain an official English or Greek translation and legalise it with the Greek Consulate of Residence.

Bank Statements:

  • Bank Statements for the last six months are required.
  • For marriage, provide marriage record or certified certificate with Greek/English translation, and consulate legalization.
  • For divorce, provide a certified divorce document, also legalized by the consulate if divorced.

FAQS

Frequently Asked Questions
The qualifying investment to obtain Golden Visa from Greece starts from EUR 250,000 in real estate. For properties located in the regions of Attica, which includes Athens and Piraeus, Thessaloniki, Central Macedonia, Mykonos, and Thira in the South Aegean Region including Santorini, as well as islands with a population exceeding 3,100, the minimum investment required is EUR 800,000. For properties in all other regions of Greece, the minimum investment is EUR 400,000. EUR 250,000 applies to industrial buildings or parts thereof which is not operating for at least five years and the property is converted into residential use OR listed buildings or parts of listed buildings that are to be restored or reconstructed. The residence permit is valid for five years from initial issue and remains perpetually renewable, subject to maintaining the investment.
Aside from the investment, you must meet the eligibility requirements of the Golden Visa in Greece. These criteria include being over the age of 18, not having a criminal record, and having the financial resources to invest. You must also be a non-EU/EEA country citizen, have medical insurance for yourself and your family, and provide the necessary documentation for Greece Residency by Investment.
The Golden Visa for Greece is valid for five years and can be renewed forever as long as the investment is maintained. The Golden Visa residence visa can be renewed every five years if the Greek real estate investment is maintained. Unlike most other countries that offer Golden Visas, you do not need to live in Greece to renew your residence visa. Because the Golden Visa has no expiration date, it is also known as a residence permit. You can apply for Greek citizenship if you decide to stay in Greece after seven years of continuous residency.
You do not need to speak Greek to qualify for a Golden Visa in Greece. If you intend to apply for Greek citizenship after seven years in Greece, you must complete Greek language and civic tests.
Obtaining a Golden Visa in Greece or any other EU country does not provide the right to work or take up employment. Unfortunately, the Greek investor visa does not entitle the holder to seek employment in Greece. Nevertheless, there are alternative means to make revenues, such as renting the property purchased or earning interest on the investment made.
Like all investment programs, the Golden Visa program in Greece carries certain risks. Among these risks are the potential changes in the investment requirements, such as the increase in minimum investment from €250,000 to €500,000, which took effect on August 1st, 2023. Additionally, investors should also consider the possibility of facing difficulties with Greek banks.
If your investment in Greece fails or loses value, you may face financial losses and potential difficulties in recovering your investment. The Greek Golden Visa program requires a qualifying investment in real estate or government bonds; if the investment fails or loses value, you may lose your residency permit.
Under the Greek Golden Visa program, investors can keep their non-Greek tax residency and pay taxes only on income earned in Greece, not money earned elsewhere. Greece also has a "non-domicile" program for those who have residence elsewhere but are still Greek residents, imposing a flat tax of €100,000 on shipowners, businesses, and retired foreign investors over 15 years. Furthermore, according to the Greek double taxation treaty, income earned outside Greece while living in Greece is not taxed. However, rental income from real estate in Greece is taxed at a progressive rate ranging from 15% (for income up to €12,000) to 45%.

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