What is the Greece Golden Visa?
The Greece Golden Visa program allows non-EU nationals and their families to obtain a renewable 5-year residence permit by making a qualifying investment in Greece. Most applicants choose real estate, but other investment options exist. This visa offers a path to European residency and, eventually, citizenship.
Key Changes in 2024–2025
As of August 2024, Greece implemented a tiered system with three investment zones based on property location:
- Zone A: €800,000 minimum investment in a single residential property of at least 120 m². Applies to central Athens, Thessaloniki, Mykonos, Santorini, and other popular destinations.
- Zone B: €400,000 minimum investment in other regions across the mainland and less touristic islands.
- Zone C: €250,000 for converting commercial buildings to residential use or restoring protected buildings.
Investment Options
Real Estate
- €800,000: Prime locations in Zone A
- €400,000: Properties in less competitive markets (Zone B)
- €250,000: Zone C projects including restorations or conversions
Alternative Investment Routes
- Fixed-term bank deposits (€500,000+)
- Government or corporate bonds
- Mutual funds and Greek investment firms
Who is Eligible?
To apply, you must:
- Be a non-EU/EEA citizen over 18
- Hold a clean criminal record
- Obtain health insurance in Greece
- Acquire a Greek tax identification number (AFM)
The program includes:
- Spouse
- Children up to 24 years old
- Parents and parents-in-law
- Same-sex couples are eligible under Greek marriage equality laws
Benefits of the Golden Visa
- Residency in Greece with the right to live there full-time
- Visa-free travel within the Schengen Zone
- No physical stay requirements to retain the permit
- Renewable every 5 years as long as the investment is maintained
- Access to healthcare, education, and business opportunities
- Potential path to citizenship after 7 years of residency and integration
Application Timeline and Process
Processing typically takes 4 to 12 months due to increasing demand. The process includes:
- Selecting your preferred investment route
- Obtaining your Greek tax ID (AFM) and opening a Greek bank account
- Finalizing your investment (property purchase or financial product)
- Collecting and translating necessary documents
- Submitting the application
- Receiving a Type-D visa and then your residence permit card
Things to Consider
Advantages:
- Lower entry threshold compared to other EU Golden Visa programs
- Entire family can be included under one investment
- No need to reside in Greece full-time
- Attractive long-term investment potential in Greek real estate
Disadvantages:
- Higher thresholds in premium areas may limit affordability
- Golden Visa properties cannot be used for short-term rentals like Airbnb
- Application backlogs can cause delays
- Citizenship requires physical presence and language proficiency
Final Thoughts
The Greece Golden Visa remains one of Europe’s most accessible and flexible residency-by-investment programs. With updated thresholds tailored to different market zones, it offers investors various entry points based on their budget and long-term goals. For those looking to combine real estate investment with European residency rights, Greece continues to be a compelling option.
If you’re planning to explore this program further, professional legal and investment guidance is strongly recommended.
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