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Updated April 2024

With its relaxed lifestyle, warm climate, healthy cuisine, and wealth of historic architecture, Greece has always been a sought-after destination for foreigners. Many visitors are interested in living in Greece for an extended period to fully experience the country’s unique offerings.

Thankfully, Greece offers a Golden Visa program that permits individuals to obtain residency permits by making a qualifying investment in the country. If you’re considering living in Greece through the Golden Visa program, read on this Wego article for all the essential information you need to know.

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Greece Golden Visa new rules

Greece has decided to increase the minimum investment amount to 800,000 euros in attractive areas such as Attica (around Athens), Thessaloniki, Mykonos, and other regions, with a starting point of 400,000 euros in other areas.
Investors must now procure properties spanning at least 120 square meters. However, for historic or industrial buildings repurposed into residential units, the minimum investment stands at 250,000 euros.
“These measures are part of the government’s overall housing policy, which aims, in cooperation with the private sector, to ensure affordable and quality housing for all citizens” stated Finance Minister Kostis Hatzidakis.

Greece Golden Visa

The Greece Golden Visa is a residency permit that allows its holders and their families to live permanently in Greece and the EU by making a financial investment in the Greek economy. The program is designed for foreign investors from non-EU/EEA countries who must meet a minimum investment threshold to be eligible for the program.

Benefits

Individuals who hold the Greece Golden Visa are entitled to a wide range of benefits. Some of the key advantages include:

residency permits for family members, including spouses, children under 24, and parents or in-laws
the program is open to all nationalities without any restrictions
access to high-quality education and healthcare systems throughout Europe at no cost
business opportunities in Greece are available to program participants
citizenship may be obtained after seven years of residency, with a minimum stay required per year
there is no limit to how many times the residency permit can be renewed as long as the investor still holds the qualifying investment
Greece Golden Visa holders can enter 26 Schengen countries without needing a visa

Book cheap flights to Greece

Eligibility

To qualify for the Greece Golden Visa, applicants must meet the following criteria:

be at least 18 years old
have a clean criminal record
make a significant investment in the Greek economy
hold medical insurance from a Greek insurance provider for each family member residing in Greece under the program

Applicants are also allowed to bring their family members to live with them in Greece. However, eligible family members are limited to:

spouses of the applicants
unmarried children below the age of 21
parents and parents-in-law of the applicants
children between the ages of 21 and 24 who are pursuing their studies

Investment requirements

There are several investment options available for individuals seeking a residency permit in Greece. Applicants may choose from the following investment choices:

purchase a real estate property with a minimum value of EUR 250,000
invest capital in a Greek company with a minimum value of EUR 400,000
invest in bonds or shares of real estate investment companies with a minimum value of EUR 400,000
deposit money in a Greek bank account with a minimum of EUR 400,000
invest in government or corporate bonds with a minimum value of EUR 800,000
sign a lease contract for hotel accommodation in Greece for a minimum period of 10 years

Under the recent changes made to the Greece Golden Visa law, certain areas in Greece, including the North Central and South Sector of Athens in the Attica Region, the islands of Mykonos and Santorini, and the Municipality of Thessaloniki, have increased their minimum investment amount from EUR 500,000 to EUR 800,000. However, other regions will still maintain the minimum investment threshold of EUR 250,000.

Required documents

To apply for the Greece Golden Visa, candidates are required to provide the following:

Greece Golden Visa application form
passport photographs
a valid passport
proof of visa payment
proof of health insurance
proof of sufficient funds to cover the investment and its origin
other relevant documents associated with the investment

It is important to note that all the documents must be translated into Greek by a Greek attorney or the Translation Service of the Ministry of Foreign Affairs in Athens.

Application procedure

Applying for a Greece Golden Visa is a relatively simple process. Applicants can follow these steps:

choose the investment method that meets the minimum investment requirements
obtain a Greek non-resident tax number
open a Greek bank account
purchase the property or make the investment based on the chosen method
gather all the necessary documents
submit biometric data to the relevant authority in Greece

By law, it is possible to apply for a visa remotely. However, applicants and their family members (if applicable) must visit Greece once to provide biometric data. After the application has been submitted, it typically takes approximately 2 months to process the visa.

Costs

To issue the visa, applicants must pay EUR 2,000, with an additional of EUR 150 for each family member applied. Moreover, there will be a medical insurance cost of around EUR 100 – 500, depending on the age of the applicants.

Citizenship

The Greece Golden Visa program provides a unique opportunity for investors and their families to reside in Greece on a full-time basis. It also offers a pathway to citizenship that can be challenging to obtain otherwise. After completing 5 years of residency in Greece, investors can apply for permanent residency. After an additional 2 years, they can then apply for citizenship.