Greek Golden Visa Program

Owning a property in Greece now comes with greater benefits!

Who is eligible?
All citizens of all nationalities are eligible for the Greek Golden Visa Programme, with the exact same terms. The residence permit is available to Russian, Chinese, American, Canadian, Israeli, Arabic and any other Non-European citizens.

What about family members?
Children under 21 years of age, parents, spouse or partner with a cohabitation agreement (concluded in Greece) and in-laws of the main investor can benefit from the same investment and issue a permanent European residence permit too.

What advantages are there of holding a residence permit in Greece?
– You may stay continuously in Greece for the duration of the permit.
– You may travel unconditionally to any of the other Schengen 26 countries without a visa as long as your stay in those countries does not exceed 90 days in any 6 month period.
– You may have access to health and education services, just as any Greek citizen.

Which are the 26 Schengen Countries?: Austria, Belgium, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland

What are the requirements?
As of August 31st 2024 and depending on the property’s location, the minimum investment value for Golden Visa acquisition is as follows:

EUR 800,000

– Region of Attika
– Regional units of Thessaloniki, Mykonos and Santorini
– Islands with a population exceeding 3,100 inhabitants, (e.g. Crete, Eubea, Lesbos, Chios, Rhodes, Corfu, Zakynthos, Kos, Kefalonia, Lefkada, Paros, Aegina, Tinos, Syros, Andros, Naxos, Milos, Skiathos, Skopelos, Alonissos, Spetses, Karpathos).

EUR 400,000

All other regions of Greece, except for the above mentioned.

EUR 250,000 (Exceptional Cases)

– Restoration of listed (preserved) buildings under special protection.
– Change of property use to residential from other purposes (e.g. commercial or industrial).

Additional Property Requirements

– Properties in the EUR 800,000 and EUR 400,000 categories must have a minimum surface area of 120sqm if they are already constructed or have an issued building permit.
– Investments must be carried out on a single property.
– Co-ownership is permitted if each co-owner meets the respective minimum investment value: EUR 800,000, EUR 400,000, or EUR 250,000.
– For spouses or partners under a civil partnership, the combined investment value must meet the minimum property requirements.
– Properties may also be acquired through a legal entity, provided that the investor owns 100% of the shares.

Property Use Restrictions

– Properties may be leased, but short-term lease agreements (e.g. Airbnb) and sub-lease agreements are not permitted.

– Non-compliance results in residence permit revocation and a fine of EUR 50,000, with additional fines of up to EUR 150,000 in certain circumstances.

– Residence permits are renewable every 5 years provided that the property remains in the investor’s possession. If the property is sold, the investor’s residence permit is revoked, and the new property owner becomes eligible to obtain a residence permit.

Transitional Period

For investments initiated before August 31, 2024, the previous thresholds apply (EUR 250,000 OR EUR 500,000, based on location), provided:

– Full payment of the purchase price, a 10% advance payment, or signing of a preliminary private agreement has taken place before August 31, 2024.
– The investment is completed by December 31, 2024.
– If the initial investment is not completed on time, investors may finalise a different property purchase by April 30, 2025, under the current regime.

How long does the residence permit last?
It is renewable indefinitely every 5 years as long as the ownership of the property remains in the applicant’s name.

What are the costs associated with the application process for the residence permit for owners of real estate?
Interested parties are only subject to the Visa fee, which is €75, except in cases where bilateral agreements provide for a reduced fee or a waiver.

How long will it take for the residence permit to be issued?
It is estimated to be issued within 2 months from the day on which the application was submitted or reached the Decentralized Administration. The applicant is not affected by the duration of the processing of their application. After the application has been submitted, the applicant receives a receipt confirming the submission of the application, which is valid for one year. The time required to process the application depends on the specific locality where the application was submitted and the volume of pending applications. Authorities have been instructed to give priority to this type of application, and all efforts are made to process the applications within two months. If an application for a residence permit is submitted for the first time, proof of submission can be issued even if the supporting documents with regards to the insurance coverage or the medical certificate of the applicant will be submitted at a later date.

How do I apply?
Once you own your property you must make an application at the Directorate of Foreign Citizens and Immigration of the Decentralized Administration, in the place of residence. In some cases, the application should be submitted to the Municipality of where your property is located.

For more information regarding your specific case, please contact the Municipality where your property is located.

For a list of all Municipalities and Decentralised Authorities please contact the Ministry of the Interior. More detailed information here