The Greek Golden Visa grants residency to non‑EU investors who purchase real‑estate in Greece. The program is one of the most straightforward pathways to long‑term residence and, eventually, citizenship for those who meet the language and residency requirements.
Investment thresholds and eligible locations
- €250,000 minimum – applicable in designated “low‑density” areas such as Crete, the Peloponnese, and other regions outside major urban centres.
- €500,000 minimum – required for properties in Athens and other high‑demand locations.
Investors often target properties above the minimum (e.g., €350,000–€400,000) to avoid low‑value assets and to secure a more desirable residence.
Application process
- Property purchase – the property can be bought directly by the applicant or through a local lawyer acting on their behalf.
- Documentation – required items include the title deed, proof of payment, passport copies, and, for family members, birth and marriage certificates. No criminal background check or apostilled records are needed for the main applicant.
- Submission – the application can be filed from abroad; physical presence in Greece is only required for a brief stay (one day) within the five‑year residency period.
- Approval timeline – processing is generally swift, though a backlog exists due to high demand.
Family members (spouse, children, parents) can be added to the same visa, provided they are not the primary applicant if they hold Russian citizenship.
Residency benefits
- Five‑year residence permit that can be renewed indefinitely.
- Minimal stay requirement – only one day in Greece during each five‑year period is needed to maintain the visa.
- Path to citizenship – after seven years of legal residence, applicants may apply for Greek citizenship, subject to language proficiency and other standard criteria.
The permit also allows owners to rent or Airbnb the property, offering flexibility for investment returns.
Tax considerations
The €250,000 investment alone does not qualify for Greece’s non‑domicile (non‑dom) tax regime. To benefit from the lump‑sum tax option, investors must:
- Invest approximately €500,000 or more in Greek assets.
- Pay an annual lump‑sum tax of around €100,000 to the Greek tax authorities.
This structure mirrors Italy’s similar program, where a €100,000 yearly tax is coupled with a separate investment visa.
Restrictions and risks
- Applicants from sanctioned countries or those on Greece’s blacklist are ineligible. Russian nationals can be included only as dependents, not as primary applicants.
- Property price inflation in popular areas (e.g., Athens) has risen since the program’s launch, potentially limiting capital appreciation for investors focused on high‑demand locations.
- The minimum €250,000 option may involve lower‑quality properties; investors should conduct thorough due diligence or work with reputable legal counsel to avoid undervalued assets.
Overall, the Greek Golden Visa offers a relatively low entry cost, flexible residency requirements, and a route to citizenship, making it a notable option for high‑net‑worth individuals seeking European residence.
