Golden Visa in Greece

A brief guide to a Golden Visa residence permit

In 2013, the Greek government introduced the possibility for non-EU citizens to obtain a residence permit by investing an amount of €800,000 or higher in Greek real estate and from €580,000 in business investments. 

This ‘Golden Visa’ will give third-country citizens and their family a residence permit for Greece, to be renewed every five (5) years for as long as they have the property in their possession, as well as the possibility to travel freely to all Schengen-countries. Since 2013, the Golden Visa framework has been subject to revision and amendments by the Greek government. According to the latest legislation introduced in late 2022, the total value of the property and the option to include more than one real estate properties with a combined value in a Golden Visa application depend on the property location.

Who is able to apply for a Golden Visa?

a) third country citizens who own real estate property in Greece, either personally or through a legal entity based in Greece or another EU member state, of which they own the total of the company shares, provided the minimum value of the property is above the Golden visa limit, as described in the relevant legislation.

b) third country citizens who purchase a plot of land and proceed to erecting a building, provided that the cumulative value of the land purchase and the contract with the construction company is above the Golden visa limit.

c) third country citizens who are adults and who fully and legally own real estate property in Greece, the minimum value of which is above the Golden visa limit, which is acquired through intestate succession, will or parental concession.

d) family members (spouse, children or parents) of the third country citizens described above.

What (in short) are the preconditions to receive a residence permit for a real estate investor:

  • The property must be owned by and be in possession of its owners.
  • From €580,000 in business investments in photovoltaic energy and primary sectors. 
  • For most areas of Greece, the value of the property must be at least €800,000 if the owners  are legally married spouses or partners with a cohabitation agreement in Greece, with undivided ownership of the property. 
  • If the owner has acquired the property through a legal entity, the applicant must own 100% of the company shares.

Renewal of the residence permit

This residence permit is valid for as long as the holder owns the property, however the holder is required to renew it every five (5) years. In order to do that, the real estate property must remain in the full ownership of the applicant. Not being in the country, does not impede the renewal of the residence permit.

You will also be allowed to do a resale of the property, during the period when the residence permit is valid. Of course, this will cause a revocation of the seller’s residence permit and allow the new owner(s) the right to a residence permit.