Greece is a Member of the European Union, the Schengen Area and a Eurozone Member. During this time of economic recovery, the Greek real estate market offers unique investment opportunities for individuals and businesses wishing to access property in Europe at highly competitive prices.
Greece offers a residency program called the “Golden Visa” program that’s designed to encourage investment into the country while allowing investors to enjoy the benefits of living here.
There are a range of benefits that come with the Golden Visa program, including:
- Eligibility for family members. You may enroll your spouse and dependent children below the age of 18 in the program. Recently, the program was amended to include the parents of both the investor and their spouse.
- You only have to pay taxes on the income earned in Greece. Income earned from investments or interests outside the country will not be subject to taxation in Greece.
- You will be provided with a residence permit that will certify your right to live in the country. The residence permit does not allow you to seek employment. However, you can set up and operate your own business.
- Freedom to travel through the EU Schengen Zone. Greece is part of the Schengen Zone, which means you can visit all other countries in the zone without problems.
- 0 minimum stay requirements.
- Access to higher education. Greece is home to some of the best private and public educational institutions. Your residence permit allows you to enroll in any of them.
- Top-notch health care. Greece has one of the best healthcare systems. According to WHO rankings, it is the 14th best in the world.
- Greece has one of the best healthcare systems in the world. According to recent WHO rankings, the healthcare system in Greece is ranked 14th best worldwide.
- Greece has a very low-crime rate and is one of the safest places to live in. People roam freely even late at night.
- Greece enjoys a strategic geographical position on the world map. It is situated on the intersection that connects Europe, Asia, and Africa. As a result, international travel from Greece to locations in these 3 continents is convenient.
These are the basic requirements:
- You must possess a clean criminal record.
- You must have medical insurance.
- Investment in Real Estate: You must invest in Greek real estate, with a minimum investment threshold typically set at EUR 250,000. The property can be residential or commercial.
- Ownership and Legal Status: Ensure that the property you invest in has clear ownership and legal status, and the investment must be made through a Greek bank.
- Residency Application: Submit a residency application to the Greek authorities, along with the necessary documentation, which may include proof of funds, a valid passport, and other relevant documents.
- Sufficient Funds: Demonstrate that you have sufficient financial means to support yourself and your dependents while in Greece.
- Biometric Data: Provide biometric data (fingerprints, photographs) as part of the application process.
- Application Fees: Pay the required application fees, which may include processing fees and other charges.
- Residence Renewal: Commit to maintaining the real estate investment throughout the residency period to be eligible for renewals.
- No Prior Entry Ban: Ensure that you are not subject to an entry ban to Greece or the Schengen Area.
- Minimum Stay: While there is no minimum stay requirement, consider visiting Greece periodically to maintain your residency status.
Tax Compliance: Be in compliance with Greek tax laws during your residency.
- Real estate: Purchase real estate in Greece worth at least €250,000 (or €500,000 in 36 selected Greek municipalities).
- Hospitality investment: Sign a lease agreement with a hospitality establishment (hotel, restaurant, spa, etc.) at a value of at least €250,000. The lease agreement must be valid for a period of at least 10 years.
- Alternative investment funds: Invest at least €400,000 in an alternative investment fund based in Greece or another EU Member State that invests in permanent property in Greece.
- Greek government bonds: Invest at least €400,000 in Greek government bonds through a Greece-based credit institution.
- The costs for the Greek Golden Visa for the main applicant and family members are as follows:Main applicant:Application fee: €2,000Biometric fee: €16Family members:Application fee: €500 per person
Biometric fee: €16 per person
Additional costs may include:
Legal fees: €2,000-€5,000
Translation costs: €100-€200 per document
Medical insurance: €500-€1,000 per person per year
The total cost of the Greek Golden Visa for a family of four will typically be around €10,000-€15,000.
FAQs about Greece & The Citizenship by Investment Program
- Who can apply for the Greek Golden Visa program?
Any foreign citizen who is not a citizen of an EU Member State or Switzerland can apply for the Greek Golden Visa program.
- Do I need to speak Greek to apply for the Greek Golden Visa program?
No, you do not need to speak Greek to apply for the Greek Golden Visa program. However, you may be required to learn Greek if you wish to apply for Greek citizenship.
- Do I need to live in Greece to apply for the Greek Golden Visa program?
No, you do not need to live in Greece to apply for the Greek Golden Visa program. However, you will need to visit Greece to attend the interview and to obtain your Golden Visa card.
- Can my family members apply for the Greek Golden Visa program?
Yes, your spouse and children under the age of 18 can apply for the Greek Golden Visa program as a result of your Golden Visa.
- What is the validity of the residence permit?
An immediately 5 years permit is issued which can be renewed after 5 years upon holding the qualifying real-estate. It is a permanent residency from day one on – and no language knowledge is required.
- How much is the submission fee to the Government and does it include the permit cards?
The cost for the main applicant is EUR 2,000 while for the depending spouse EUR 150 and dependent children up to the age of 17 years are free. Children 18-21 years in study are EUR 150 as well as EUR 150 per parent.
- My child soon turns 21 years, can I still include them?
Children can be included up to the age of 21. Therefore, the application must be submitted and qualifying before the child turns 21 years! Children who successfully got it will lose the residence status after they turn 24 years if they do not become an own applicant with a real-estate investment in Greece of at least EUR 250,000 in propert(ies) as well. Another option as an alternative could be the child will be the main applicant and includes the parents in his/her application.
Make Greece your second home
GDP (per capita)
GDP (purchasing power parity)
Eastern European Time (UTC+2)
- Member of the European Union and the Schengen Area
- An unsurpassed quality of life
- One of the least polluted regions in the world
The materials contained in this page are provided for general information purposes only and are not intended to provide legal or other professional advice. Processing times and costs will vary depending on a number of factors. CitizenMatch is not responsible for any changes to the time and cost estimates; we can provide specific information on an individual basis. All rights reserved.