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Residency & Golden Visa Program of Greece
Overview of Greece
Greece is renowned for its pioneering ancient civilization, breathtaking landscapes, and Mediterranean cuisine. Situated at the crossroads of Africa, Asia, and Europe, Greece stands out as one of the most appealing European countries for those seeking to relocate. Comprising a multitude of captivating islands adorned with magnificent beaches and historic sites, these scenic gems collectively contribute to one-fifth of the country’s total area.
Language
Greek
Currency
Euro
Total Area
131,958 km2
Capital
Athens
Government
Unitary Parliamentary Republic
Population (2024)
10,724,599
Residency & Golden Visa Program of Greece
The Greek government initiated its Golden Visa Program in 2013, and from January to June 2020, more than 22,500 residence permits were issued to non-EU and non-EEA investors and their families who invested a minimum of €250,000 in property.
A Greek Golden Visa allows holders to stay in Greece and travel freely within the EU and Schengen area for five years, provided they maintain ownership of the investment property. Residency renewals can be done online, and holders are not required to live in Greece. During the application process, investors only need to travel to Greece once to appoint a proxy with an in-person signature.
The Greece Golden Visa Program offers all the benefits of EU/Schengen residency with one of the lowest investment requirements. Investors aiming for a Greek passport must reside in Greece for at least seven years.
Which Family Members Receive Automatic Residency Permit Along with the Investor
- Spouse
- Dependent children of both spouses below the age of 21
- Dependent parents and parents in law
Benefits of Greece Residency & Golden Visa
The Greek Golden Visa offers one of the most favourable terms to foreign investors among similar European programmes. Most importantly, it requires a smaller amount of investment than other European programmes.
As a member state of the EU, Greece offers its residents and citizens many reassuring benefits including high levels of safety and security, excellent education opportunities, robust healthcare options, and a dependable rule of law.
- Visa-free access to all Schengen countries
- Golden Visa applications only require one trip to Greece
- Automatic residency for children up to the age of 21
- Access all major European cities within one to four hours
- Right to apply for Greek citizenship after seven years of residency
- High return potential from a vibrant real estate market
Real Estate Investment in Greece
The Greek Golden Visa real estate investment option allows non-EU applicants to acquire property with a minimum value of €400,000, granting them a five-year residency permit. This residency is renewable every five years as long as the property investment is retained.
As per the new rules, Greece will have 2 zones:
-
€800,000 – Covering Attica, Thessaloniki, Mykonos, and Santorini. This zone will also include islands with a population of under 3,100 inhabitants.
-
€400,000 – Covering all other regions of Greece.
In addition to acquiring real estate, investors have the option to obtain a 10-year lease for furnished tourist apartment complexes or hotels. Alternatively, they can enter into a 10-year time-share agreement for hotel accommodation.
*** Applicants will be able to qualify under the current thresholds (€250,000) as long as they pay a 10% investment deposit before September 30th and complete the investment by New Year’s Eve 2024.
Golden Visa Cost of Greece
Real Estate Investment
€400,000 or €800,000
Taxes, Legal Fees, and Administration Costs approximately 6.4% of the property value
€16,000
Golden Visa Stamps
€2,000 for each applicant and the main investor
Property Background Check
€250 plus 24% VAT
Real Estate Purchase Contract Fees
€1,000
Residency Application Fee
€300 plus 24% VAT for the main investor and every other applicant
Applicants can expect the additional costs to amount to 8-10% of the property value.
How to Qualify for Greece Golden Visa?
- Applicants must be 18 years of age or older.
- Investors must be a third-country national, not an EU/EFTA citizen.
- Applicants must have a clean criminal record.
- Investors must provide a certification of good health from a reputable healthcare system.
- Applicants must possess capital assets of not less than €500,000, out of which a minimum of €150,000 must be financial assets.
- Investors must have adequate health insurance coverage.
Greek Citizenship and Passport
Greek citizenship opens the door to a diverse and enriching journey, fostering a profound link to a historically significant land. It embraces the essence of endurance and intellectual inquisitiveness that has influenced societies over countless centuries.
Investors seeking Greek citizenship must be prepared to reside in Greece for at least seven years. Upon obtaining Greek citizenship, Golden Visa holders have the freedom to sell their property and access the full rights of a Greek passport. Additionally, applicants are required to pass a Greek language test.
Reach us to learn all about Greece Program, Application Details and Visa-Free Countries
In recent years, the Greek government has actively expanded the list of countries offering visa-free access for Greek passport holders.
FAQ’s About Residency & Golden Visa Programs of Greece
How do I get a Golden Visa for Greece?
To qualify for the Greek Golden Visa real estate investment, applicants are required to acquire property with a minimum value of €400,000 and retain the property investment for a duration of 5 years.
How long does it take to get citizenship in Greece?
Golden Visa holders have the option to apply for a Greek passport after fulfilling the requirement of residing in Greece for a minimum of seven years.
How can I get Greek citizenship?
To obtain Greek citizenship, investors must express a commitment to reside in Greece and are eligible to apply for citizenship after fulfilling a seven-year residency requirement. Additionally, applicants are required to pass a Greek language test.
Does Greece allow dual citizenship?
Yes, Greek citizens are permitted to hold dual citizenship, allowing Golden Visa holders to retain their existing citizenship while obtaining a Greek passport.
Can I work in Greece with a Golden Visa?
Greece golden visa does not include automatic work rights. Golden visa holders must obtain a separate work permit to be eligible for employment in Greece.
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