GreeceGolden Visa
Obtain residency in Greece
Greece, the birthplace of democracy, the Olympic Games and Western Philosophy, is a country strategically located at the crossroads of Europe and Asia. It is well known for its charm and beauty and offers a good quality of life to its residents.
In 2013 Greece introduced the Permanent Residency Scheme by investment widely known as the ‘Golden Visa’. Successful applicants and their families can benefit from visa-free access to the Schengen area.
Benefits
- EU residency
- Real estate investment from €250.000*
- No minimum stay requirements
- Visa-free travel across the Schengen zone
- Family eligibility**
- EU education for children
- Real estate market with annually increasing added value
* In areas where the minimum threshold is €250.000: Applies across all regions only in the following cases: (i) Conversion of a commercial property into a residence, with official approval for change of use, (ii) Restoration or reconstruction of a listed/heritage (preserved) building.
** Spouse & children under the age of 21, parents, direct descendants & relatives are eligible to join you.
Requirements
- Be a non-EU/EEA country citizen
- Be at least 18 years old
- Have a clean criminal record
- Have medical insurance
What type of investment is eligible?
The most popular, straightforward pathway to obtain a Greek Golden Visa is by real estate investment.
Purchase of real estate property (residential or commercial)
Purchase of real estate property (residential or commercial), meeting one of the following investment thresholds:
- €800,000: Required for properties located in: The Region of Attica, The Regional Unit of Thessaloniki, The islands of Mykonos & Santorini; any island with a population over 3,100 inhabitants. In these areas, the property must be at least 120 sq.m. and the investment must be in a single property.
- €400,000: Applies to all other areas of Greece. The investment may involve multiple properties, provided they are located within the same Regional Unit and meet the total threshold.
- €250,000: Applies across all regions only in the following cases:
- Conversion of a commercial property into a residence, with official approval for change of use
- Restoration or reconstruction of a listed/heritage (preserved) building
- These exceptions based on the purchase value €250,000 allow more flexibility and apply regardless of geographic zone.
Purchase of land and construction of a building
- Purchase of land and construction of a building, where the combined value of the land purchase and the construction contract meets the applicable threshold (€400,000 or €800,000), depending on location.
Note: This option does not qualify under the €250,000 exceptions.
Purchase of land and construction or Lease agreements
- Purchase of land and construction of a building, where the combined value of the land purchase and the construction contract meets the applicable threshold (€400,000 or
- Lease agreements for tourist accommodation (hotels or furnished residences), with a minimum 10-year duration and a fully secured total lease value that meets the applicable threshold (€400,000 / €800,000).
Timeshare contracts
- Timeshare contracts (for at least 10 years) meeting the required value thresholds.
Acquisition of property via inheritance, will or parental concession
- Acquisition of property via inheritance, will or parental concession, where the objective tax value of the property meets the applicable threshold (€400,000 / €800,000), depending on location.
The process in a nutshell.
Straightforward & transparent procedure
Issuance of an entry visa for Greek Territory from the Greek consulate authority in the country of origin of the applicant(s)
Collection of documentation for the issuing of the residence permit
Submission of documents with the relevant Authority
Submission of biometric data
Application examined by Secretary General of the Decentralised Administration and the authority of Aliens & Immigration of the Decentralised Administration
Five-year (renewable*) residence permit issued
*The real estate property must remain in the full ownership of the applicant; relevant leases/contracts must be ongoing
Our group has a dedicated team which assists clients in the process of obtaining Greek Permanent Residence.
Advice on the required criteria for the Greek Residency Scheme
Assistance with possible investment opportunities
Preparation and submission of all the requested documentation and application forms for the program to the relevant authorities
Regular communication and monitoring of the process with government officials
Conducting real estate due diligence
Drafting contracts for purchase of property/other investments
Advice on the required criteria for the Greek Residency Scheme
Examination of possible tax implications arising from the investment
Legal and other professional assistance
Structuring and management of the investment