Greece Golden Visa Program Guide

What is the Greece Golden Visa?

Greece began taking applicants for its Golden Visa program in 2013. Right around the same time neighboring Spain and Portugal began their Golden Visa programs. Since its start, the program has raised nearly €3 billion and approved over 10,000 applications.

The Greece Golden Visas program is a special residency pathway which grants foreign investors residency for investing in the country. Basically, qualified investors can move a certain amount of capital into the country and in return gain the right to live in Greece.

In addition, Greece Golden Visa holders get visa-free access to other countries in the Schengen Area, along with access to Greece’s education and healthcare facilities.

Greece Golden Visas are issued for five years and are renewable indefinitely; at least for the time being. Furthermore, the Greek Golden Visa opens a potential pathway to citizenship if golden visa holders reside in the country for at least seven years and fulfill other requirements. A golden visa residence permit and potentially a future Greek passport will allow you to travel visa-free to 186 countries and access other EU member states.

Why Greece To Invest In Greece Vs. Other European Golden Visas?

Greece is not the only European player in the Golden Visa game. Portugal, Spain, Latvia, Hungary, and even Malta (we can help with all five!) have their own permanent residence golden visa programs.

So, the question is – Why pick Greece?

Lower Investment Threshold

Greece has one of the lowest minimum investment thresholds in Europe.

Portugal and Spain’s residence permits require investments of €500,000 while Malta demands a €300,000 property purchase. But starting at just €250,000, Greece’s golden visa provides a far more affordable investment route for those seeking an immediate permanent residence permit.

Access to the EU

As an EU member state, Greece offers a lot of benefits to its permanent residents and citizens. With your Greek residence permit, you have access to numerous countries within the Schengen Zone. That means, citizens of Greece receive the right to travel, live, work, study, and access healthcare in the EU’s 27 countries. And through generous family reunification policies, EU residents can more easily sponsor family members to join them.

Also, outside the EU, Greece has one of the strongest passports in the entire world – with no visa required to enter more than 180 countries.

Tax Benefits

Greece can potentially offer competitive tax incentives to golden visa holders, depending on their financial situation. Keep in mind, however, that tax policy is only relevant if you intend to become a Greek tax resident, spend more than six months in the country each year, or cut economic ties with your current jurisdiction of residence.

Tourism and Investment Opportunities

Greece’s tourism sector is booming. They amicably receive 30 million visitors every year. Thanks to the digital nomad and remote work crazy, this means there’s huge potential for capital appreciation in property investments, especially in certain high-demand regions full of tourists.

Let’s not forget the fact that Greece is simply a wonderful place to be. The climate, cuisine, wine, rich history and stunning landscapes make it a great place to spend time. While Athens itself is a vibrant and culturally-rich city, Greece has diverse geographic features including mountains, islands, and beaches. There is considerable geographic variation within Greece worthy of exploring. There are hundreds of Greek islands to explore, each with a unique history and culture.

Lifestyle alone is enough reason to become a Greek resident. Greece has a laid back lifestyle that is safe and comfortable. For people looking to escape the hustle and bustle of major cities, Greece is an ideal place to spend time.

Overall, Greece offers a very high quality of life at a low to reasonable cost. Developed healthcare, top-tier educational institutions, and a developed legal infrastructure add to the country’s attractiveness. Greece is a fantastic place to spend time, let alone live there, so a Golden Visa can help you get there quickly and smoothly.

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Greece Golden Visa 2025 Highlights

No stay requirementsMaintain your golden visa status without a minimum stay requirement.Lowest minimum real estate investment requirement of all the EU Golden VisasInvestments as low as €250,000.Visa-free access to Schengen areaTravel through the entire 26 country Schengen zone and stay for up to 3 months at a time with your Greek residency card. Renewable indefinitelyA new permit will be issued every five years as long as the investment is maintained.Potential Pathway to citizenshipMaintain tax residency for seven years and be eligible to apply for a Greece passport under certain conditions.183 days to be a tax resident Live in Greece for 183 days per year to be a qualified tax resident. Rights to establish a business in GreeceAs a golden visa holder you will have the right to start and operate a business in Greece.Includes your dependentsSpouses, parents, spouse’s parents, children under 21, and children under 24 who are students can be included as dependents on your Greek golden visa. Mediterranean lifestyleEnjoy all the perks of high quality healthcare, education, and a comfortable lifestyle on your Greece golden visa.

New Real Estate Rules and Price Changes for the Greece Golden Visa Program in 2024

First, let’s talk about what’s new. The Greek government switched things up in September 2024, particularly around the minimum investment threshold in certain areas.

In the past, golden visa applicants could purchase a property for €250,000 in popular regions of Greece like Athens, Thessaloniki, and parts of Mykonos and Santorini. But local backlash to the influx of investment and foreigners has driven the recent golden visa property rule and price changes.

What’s New?

Parliament has added a 120 m²-minimum size of the property and bumped up the minimum value of qualifying real estate investments to €400,000 in most regions of Greece and €800,000 in the highest-demand areas of Greece, which include the following:

• Administrative Region of Attica (which includes Piraeus and most of Athens)
• Thessaloniki
• Mykonos
• Santorini
• Islands with a population of 3,100 or more

Investors can also contribute €250,000 on a ten-year timeshare toward integrated tourist resorts, furnished tourist residences, or other vacation properties. However, in these recent changes, no longer can investors list their real estate property for short-term rental (e.g. Airbnb).

But, that’s not all the changes (and herein lies an opportunity). For the same €250,000-minimum investment as the previous version of the Greece golden visa, investors can purchase a commercial property and convert it to residential one regardless of the location or size.

Important note: The conversion must be finished before applying for the visa.

Or, investors can buy and restore a historical or cultural building for the same €250,000 minimum, regardless of location or size.

Important note: The renovation must be done by the fifth year of the permanent residence permit in order to renew the visa.

So, after all, maybe the changes aren’t such a missed opportunity for investors who’ve yet to buy real estate property in Greece and apply for their residence permits.

Greece Golden Visa €250,000: Renovation & Refurbishment Category Investments

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The Athens serviced apartment sector is growing rapidly to meet the growing demand for versatile housing for students, young professionals, tourists, and executives. Lincoln Global Partners has allied with trusted brands for operations and management, so investors receive a hassle-free experience and net annual income without maintenance or associated costs.

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Other Investment Options for the Greece Golden Visa

Real estate is not the only option for investment via the Greek golden visa program. Greece offers several ways to invest, and not all of them involve real estate.

Startup Investment

The Greek prime minister has proposed a new bill that would allow golden visa applicants to invest €250,000 in startup companies based in Greece. The new program developments are expected to drive interest in other golden visas in Europe, so this may be an attempt by the Greek parliament to maintain high interest levels and encourage investment in their economy.

Greek Government Bonds

Want a safer investment? This government bonds option might appeal to those looking for stability. Investors must deposit €500,000 in Greek government bonds with a maturity of at least three years in an accredited institution headquartered in the country.

Alternative Investment Fund (AIF)

Greece also allows investors to contribute capital to an alternative investment fund. These funds provide capital to real estate investment companies, stocks, or other financial instruments. So, if investors want to avoid managing property themselves and would prefer being indirectly involved with real estate, they can invest €400,000 in an alternative investment fund.

Bank Deposit

While the most popular investment option of real estate is becoming more costly and complex, the €500,000 bank deposit option is more attractive by the day. Why would you choose to deposit half a million euros in a Greek bank account? Compared to the alternatives, this process is quick and simple and doesn’t require any ongoing maintenance as a property or investment may.

Whichever option you choose, the key is that your capital contribution hits that minimum value requirement to qualify for the golden visa and residence permit.

Last Updated: December 2024

How to Qualify for the Greece Residence Permit and Golden Visa

Of course, you’re wondering how to apply for the golden visa and what the process looks like? Here are the details:

1. Minimum Investment and Purchase Agreement — As discussed, golden visa investors must purchase at least €250,000 in historical or converted real estate or otherwise, at least €400,000 for a residential property outside of the popular regions of Greece (€800,000 in the high-demand areas listed above). To be approved for the Greece residence investment program, you’ll need to provide the property deed, proof of conversion or renovation (if applicable), and receipt of capital contribution and/or real estate acquisition).
2. Valid Passport — No surprises here. You need to be a third country national with a valid passport.
3. Clean Criminal Record — From each of your past countries of residence, you must submit a background check and clean criminal record. Non-EU citizens must prove they’ve never committed a crime in the European Union.
4. Health Insurance — You’ll need Greek health insurance coverage for the continuous residence period you live in the Balkan country.

Family members qualify for a permanent residence permit too. Greece currently allows the main applicant to bring their spouse, any family member under 21, dependent parents of both spouses, and dependent children under 24 who are students.

For those who are not the main applicant, you must also present proof of relationship at the time of application.

Greek Taxes and Financial Considerations

If you plan to retire in Greece, there are some attractive tax breaks, especially if you choose to become a tax resident. Apart from that unique situation, there may be better options in Europe and elsewhere in the world if your primary goal is to establish a low-tax tax residency.

Important note: The following rules only apply if you become a tax resident of Greece. That means that if you meet their physical presence (did you spend six months in Greece in the last year?) or vital interest (do you have strong ties with Greece?) rules, you may be liable to file and/or pay taxes in Greece. Remember that if you desire Greek citizenship, you must become a tax resident.

Here’s what you need to know about taxes when holding a Greek golden visa:

• Greece taxes tax residents on their worldwide income. So, even if you earn an income via a business in the United States, you may still file in and owe Greece if you become a tax resident there. Based on their progressive tax scale, Greek tax residents who make more than €40,000 a year would pay 44% on the income above that limit.
• If you own property in Greece, expect each year to pay property tax, which depends on the location and value of your property. Property tax can range from less than €1 to €16 per square meter.
• Capital gains tax in Greece is 15%.

Apart from all that you’ve just read, Greece offers not one, but two attractive lump sum tax regimes – one for investors and one for retirees.

Greece’s Lump Sum Tax Regime for Investors

Third-country nationals who invest €500,000 in Greece may pay a lump sum taxation of €100,000 per year without declaring any foreign assets or income. Of course, this regime only makes sense for those making an income far around €1 million or above.

The maximum duration of the regime is 15 years. And yes, its benefits are extendable to family members.

For the right individual, the lump sum tax regime is an attractive incentive.

Greece’s Lump Sum Tax Regime for Retirees

Foreign-sourced pensions for non-domiciled residents are taxed at only 7%. For comparison to Portugal’s recently-closed NHR taxation regime, pensions were taxed at 10% there.

How to Qualify for Greek Citizenship

Foreigners can also obtain the Greek Golden Visa by purchasing Greek government bonds totaling €400,000. The bonds must mature in at least three years.

Capital Contribution to a Business

Foreigners can also invest €400,000 into an established Greek business to qualify for the Greek Golden Visa. Qualifying investments include Greek companies, real estate investment companies, and closed-end funds.

When investing in Greek companies, the company must have its main registered office in Greece to qualify.

When investing in real estate investment companies, the company must invest exclusively in the local, real estate investment company market. They cannot be an international real estate company, and they must operate solely in Greece.

Similarly, those investing in closed-end funds must invest in funds that invest only in Greece. Eligible funds include hedge funds and closed-end investment funds.

For these investments, it is important to clarify that your potential investment is eligible. Consult with your legal advisors.

Combined Investment Programs

Foreign investors can also qualify for the Greek Golden Visa by making a combined investment of €800,000 into shares, corporate bonds or Greek government bonds.

Like the above corporation investments, regulations exist in terms of qualifying companies and bonds. The investments must be legally registered and admitted for trading in Greece.

To qualify for the Golden Visa, the duration of these bonds must be five to seven years each.

Again, it’s important to confirm eligibility before making an investment.

Investment into a Greek Fund

Foreigners can invest €400,000 into a Greek mutual fund that invests solely in Greece to qualify.

Investment into a Greek Alternative Investment Fund

Finally, foreigners can obtain the Greek Golden Visa by investing at least €400,000 into an alternative investment fund that operates solely in Greece and invests in Greece property.

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Greece Golden Visa Eligibility

Key Requirements

To qualify for the Greek Golden Visa scheme, foreign applicants must meet the following criteria:

• Non-EU/non-EEA citizen (third country nationals) excluding citizens from sanctioned countries (eg:  list of sanctioned countries lower down in FAQ’s)
• At least 18 years old
• Have no criminal record in Greece or European Unin

Requirements

To apply, applicants must submit the following documentation:

• Valid Passport and copies for the main applicant and dependents
• Application forms and required additional documents
• Criminal background check
• Proof of relationship (if applying with family members)
• Proof of health insurance

Additional documents may be required depending on your individual circumstances. Your legal counsel will assist you in preparing these documents. 

Dependents

The main applicant can include family members on their application. Greece currently allows the main applicant to bring their spouse, children under 21, parents of both spouses, and children under 24 that are students. For these applicants, proof of relationship must also be presented at the time of application.

Residency Requirements

One of the best perks about the Greece Golden Visa scheme is that there are no minimum stay requirements to maintain the visa. A stay requirement is the amount of time you need to physically remain in a country to renew your visa.

The golden visa in Greece does not have a requirement, so you do not even have to go to Greece at all to maintain your visa.

As long as you hold your investment, you will continue to maintain your Greek residence permit.

Greece Golden Visa Application Process

The entire application process can take up to 6 months. From 2021, the application process became possible to complete entirely online.

We recommend working with a legal advisor who is familiar with the process. In fact, in cases of property purchases, you will need the help of a lawyer to complete the process. Additionally, since the fall of 2022 a massive uptick of applications have been lodged. Unfortunately there has not been a massive uptick in employees to process said applications. Time varies between different areas, Athens being the slowest at the moment, but a legal advisor to constantly follow up on your applicants is beneficial to say the least.

Get the Greece Golden Visa in 7 steps

1. Research the Greek program and determine which investment option you want to pursue.
2. Clarify investment specifics! If you are purchasing real estate, choose a property. For those investing in Greek funds, choose the fund and clarify that they are eligible. If you haven’t done so already, this is the perfect time to start working with a legal advisor that is familiar with the Greece Golden Visa program.
3. Visit Greece to make the purchase and open a Greek bank account. To open a bank account, you will first need a tax identification number (an AFM). Doing both of these is straightforward if your paperwork is in order. Working with a lawyer will ensure that these are done promptly and hassle-free.
4. Make your investment and obtain proof of investment. You must make your investment before applying for Golden Visas.
5. There will be a deadline from the time you make your investment to the time you can apply. Once again, working with an expert will help ensure that you meet this deadline.
6. After your purchase, you can begin the application submission process. Working with your lawyer(s), you can prepare and fill out the necessary documents. Once everything is ready, you can submit your application.
7. Finally, upon approval, you will pay any associated fees and then receive your Golden Visa.

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Pathway to Greek Citizenship

Golden Visa holders who have resided in Greece for at least seven years could be eligible to apply for Greek citizenship. Foreigners must have been tax residents in Greece to be eligible. This does not guarantee citizenship will be granted, as there are other specifics which must be met such as a Greek language test. More information about the viability of citizenship will become clearer as more Golden Visa holders apply for Greek citizenship in the coming years.

Tax Benefits

Another benefit of the golden visa in Greece is that there are some beneficial tax incentives for Golden Visa holders.

First of all, there is a relatively high threshold to become a tax resident in Greece. Currently, residents become tax residents only after remaining in Greece for 183 days a year. That’s over 6 months. When combined with the lack of a stay requirement, this makes Greece especially attractive.

However, Golden Visa applicants who eventually want Greek citizenship should keep in mind that you must be a tax resident to qualify for a Greek passport down the line.

Note that Greece offers a non-dom taxation system for High Net Worth Foreign Nationals and Retirees. This is especially attractive for Ultra-High Net worth individuals since there is an option to pay a lump sum taxation of 100,000 EUR per annum. Anything beyond that will be exempt. This provides an excellent incentive to reduce taxes on foreign-earned income for certain individuals. Additionally, pensions for non-dom tax residents are tied at only 7% in comparison to Portugal with its NHR taxation regime in which pensions are taxed at 10%.

To make the most of this option, it is important to work with proper legal advisors to ensure your company is structured appropriately. Nevertheless, it is a great way to potentially reduce taxes on foreign income.

Finally, it’s important to check the tax agreements between Greece and your home country to verify if there is a double taxation treaty in place.

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Greece Golden Visa 2023: What to Expect

Throughout the process of applying, there are some things to expect and be aware of to minimize the potential for hiccups.

Taxes

If you invest in real estate, there will be taxes associated with your purchase. Real estate investors should expect to pay property taxes on top of their initial investment.

As of 2023, Greece Golden Visa investors can expect taxes ranging up to 25%, adding more to the initial qualifying minimum. However, this is not unique to Greece. Investing anywhere in Europe will cause you to pay more taxes on your purchase.

If you rent out your property, you will pay tax on this generated income, up to about 30%. It is possible to lower this percentage depending on your particular property and circumstances.

Fees

There are fees associated with the application which are not included in the investment minimum. These include fees associated with your application, lawyers and legal experts, and other administrative fees throughout the process (real estate fees, business incorporation fees, permit issuance fee, etc.).

Lawyer fees to process a Golden Visa application for a main applicant and their immediate family members can easily reach €10,000 for processing an entire family. While this may seem pricey, working with a qualified legal expert significantly reduces the possibility of making mistakes throughout the golden visa process.

Translating and Notarizing Documents

Your application and official documents will need to be translated into Greek. You must also notarize the documents. This will ensure everything is in order and that there are no problems with your application after submission. We recommend using a reputable translation service dealing specifically with legal documents.

Don’t neglect this area of your application! Poorly translated documents can result in delays processing your application.

Greece Golden Visa Summary

Overall, Greece’s Golden Visa program is one of, if not the, most attractive in 2023. Greece is an appealing country with functioning legal institutions and an increasingly-attractive real estate market. The process to obtain a Greek Golden Visa is streamlined and opens a potential path to a Greece citizenship for those who choose to reside in Greece for at least seven years. It stands out among European Golden Visa programs due to its low investment minimum and lack of a stay requirement. There are several options for obtaining Greece Golden Visas that add to the program’s appeal.

That said, the minimum investment for prime real estate in Athens has recently increased to €500,000. There is no guarantee that the €250,000 investment minimum outside of Athens won’t eventually increase as well.

Another downside of the program is that Greek taxes are higher than other places. While no place in the world is completely free of taxes, for those who become tax residents, taxes will be an added annual expense. However this is true throughout Europe, and investors familiar with the region should not find this surprising.

Lastly, while the Greek economy has improved since the 2007 debt crisis, there is still always the chance for future problems. Nevertheless, the Athens real estate market is booming, and the country has been experiencing a revitalization of sorts. The possibility of getting a European, permanent residency and a European passport will continue to attract investors from around the world. As of Q3 2023, the Greece Golden Visa program remains healthy and continues to take applications.

Greece will provide investors a stable place to invest, streamlined application process and a comfortable lifestyle among other perks. 

Apply for the Greece Golden Visa with Lincoln Global Partners

The Greece Golden Visa is an exceptional opportunity for individuals to gain EU residency in this beautiful Mediterranean nation. The Greece golden visa offers many benefits such as economic and investment opportunities, enhanced global mobility and the ability to live, work and study in Greece.

Lincoln Global Partners is a specialist international investment migration firm with offices in the UK, UAE and Brazil. Our professionals are experts in the field of citizenship by investment and we are ready to assist you every step of the way with your Greece Golden Visa application.Request A CallbackFrequently Asked Questions

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What is Citizenship by Investment (CBI)?

Citizenship by Investment (CBI) is a program that allows wealthy individuals to obtain a second citizenship by investing in a particular country. These programs are becoming increasingly popular as they offer a number of benefits, including visa-free travel, tax reduction, and a second home.

What are the benefits of obtaining a second citizenship?

There are many benefits to obtaining a second citizenship, including:

• Visa-free travel: A second passport can give you visa-free access to a number of countries, making it easier to travel the world.
• Tax reduction: Some countries offer citizenship by investment programs with attractive tax benefits, such as no income tax or inheritance tax.
• A second home: Citizenship by investment can give you the right to live and work in another country. This can be a great option for those who are looking to retire abroad or who want to have a backup plan in case of political or economic instability in their home country.

Which countries offer Citizenship by Investment programs?

Lincoln Global Partners offers citizenship by investment programs in a number of Caribbean and European countries. Some of the most popular programs include those offered by Grenada, St. Lucia, Dominica, Portugal, and Spain.

How much does it cost to obtain citizenship by investment?

The cost of obtaining citizenship by investment varies depending on the country and the specific program. However, it is generally necessary to make a significant investment, such as in real estate or government bonds.

How can Lincoln Global Partners help me obtain citizenship by investment?

Lincoln Global Partners is a leading provider of citizenship by investment programs. They have a team of experienced professionals who can help you choose the right program for your needs and guide you through the application process.

Contact Us to start the process and Become a Global Citizen in 2023