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Overview
The Greece Golden Visa Program offers non-EU nationals and their families the opportunity to obtain a residence permit through qualifying investments. The program grants permanent residence with no minimum stay requirements and allows for future citizenship eligibility.
Key Benefits
Visa-Free Travel: Residence permit holders can travel freely within the Schengen Area.
No Residency Requirement: There is no obligation to reside in Greece to maintain the residence permit.
Unlimited Validity: The residence permit does not expire as long as the investment is maintained.
Income Generation: Investors can rent out their properties.
Family Inclusion: The main applicant’s spouse, children under 21, and parents of both the applicant and spouse can also obtain residence permits.
Pathway to Citizenship: Eligible for Greek citizenship through naturalization after seven years of residence.
Business Investment Options: Investors can own shares and receive dividends from Greek companies but cannot be employed in Greece.
Investment Options
To qualify for the Greece Golden Visa, applicants must choose one of the following investment routes:
1. Real Estate Investment
€250,000: Investment in a special category of properties, such as listed buildings or conversions of commercial properties into residential use.
€400,000: Purchase of a single property with a minimum size of 120 sqm in any location in Greece.
€800,000: Investment in a property located in Athens, Thessaloniki, Mykonos, Santorini, or other islands with over 3,100 inhabitants.
2. Alternative Investment Options
Time-Sharing or Lease Agreement:
A 10-year contract for hotel accommodation or furnished tourist residences with a value of €400,000 (outside high-demand areas) or €800,000 (in high-demand zones).
Fixed-Term Bank Deposit:
A minimum deposit of €500,000 in a Greek credit institution.
Capital Contribution to Greek Companies:
A minimum investment of €500,000 in:
A public limited real estate investment company investing exclusively in Greece.
A closed-end investment company or mutual fund.
A Greek-based company for share capital increases or corporate bonds.
Greek Government Bonds:
Investment of at least €500,000 in Greek government bonds with a three-year maturity, held through a Greek bank.
Market Investments:
Acquisition of €800,000 in Greek corporate bonds, government bonds, or shares traded on Greek stock exchanges.
Mutual Funds or Alternative Investment Funds:
Investment of €350,000 in funds that invest exclusively in Greek corporate bonds, government bonds, or stock.
Residence Permit Conditions
The permit is renewable every five years, as long as the investment is maintained.
Investors can sell their assets but must reinvest in another qualifying asset to retain the visa.
No physical presence in Greece is required for renewal.
Citizenship Eligibility
Investors can apply for Greek citizenship through naturalization after seven years of legal residence.
Applicants must demonstrate ties to Greece, such as language proficiency, cultural integration, and financial/social connections.
Real Estate Market Overview
The Greek real estate market experienced steady growth before the 2008 financial crisis, followed by a decline.
In recent years, the market has rebounded, attracting foreign investors.
The Golden Visa Program has significantly contributed to the increase in property transactions, particularly in Athens, Thessaloniki, and popular islands.
**This article is part of a series of articles in respect to the most attractive migration programs:
*DISCLAIMER: This article and its publication are intended to provide a brief introduction and act as a general guide. This is provided for information purposes only and cannot be utilized as a substitute for professional advice. This document does not represent a legal opinion and one must not rely on it without receiving independent advice based on the particular facts of its own case. No responsibility is accepted by the author or the publishers for any loss suffered from acting or refraining from acting based on the contents of this publication.
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Please get in contact with our Head of Business Development:
Mrs Daniella May / Head of Business Development
Tel.: + 357 7000 2 5555 / + 357 22 87 57 55
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