Greece Golden Visa

Residence permit in Greece for the purchase of real estate and investment

Greece Golden Visa

Residence permit in Greece for the purchase of real estate and investment

To obtain a Greek residence permit through the Golden Visa program, applicants need to invest from €250,000 in real estate (€500,000* in some regions) or from €400,000 in Greek companies, bank deposits or government bonds.

*Starting 2023, in some regions of Greece, the minimum amount of investment in real estate to obtain a Golden Visa has been increased to 500 thousand euros.

A minimum value of €500,000 at the time of purchase will apply to:

⇒ northern part of the country;
⇒ the central and southern sectors of Athens in the Attica region;
⇒ the islands of Mykonos and Santorini;
⇒ Municipality of Thessaloniki.

The investor also needs to undergo a due diligence test: confirm the legality of the source of funds, confirm the absence of criminal records and diseases that pose a risk to public health, according to international WHO data.

Benefits of investing in Greek real estate to obtain a Golden Visa:

⇒ Investments can be made in under construction, new or secondary residential or commercial properties.
⇒ Investors who own real estate in Greece are allowed to rent it out.
⇒ Greek housing prices continue to rise, making investments very profitable.

Benefits of the Greece Golden Visa

✔ Residence permit for the whole family

You and your family receive a residence permit in the EU. In addition to the investor, Greek permanent residence under the Golden Visa program can be obtained by: the second spouse, unmarried children, as well as the parents of the investor or spouse.

✔ Residence permit for 5 years immediately

A Greek resident card is issued immediately for 5 years with the right to extension, and you do not need to renew the residence permit every year, as under other programs.

✔ Right of permanent residence or without residence

After receiving a Golden Visa, you can live in Greece permanently or come at any time on vacation. In order to maintain a residence permit, an investor does not have to live permanently in Greece.

✔ Remote purchase of real estate and submission of documents

You can select and buy Greek real estate and obtain a residence permit remotely, without visiting the country. You and your family only need to visit Greece once to submit your biometric data.

✔ No restrictions on property location

As an investment, you can purchase property in Greece, both in the tourist center and on the outlying islands.

✔ Passive income

Greece is a tourist country, so an investor can receive income from investment by renting out real estate. On average, real estate in Greece gives about 4% to 6.3% yield per year.

✔ Residence permit with the possibility of obtaining citizenship

The investor retains the residence permit permanently, provided that he does not sell the property and maintains the investment. After 7 years you can apply for Greek citizenship. The Greek passport is one of the best passports in the world with visa-free access to 185 countries.

Obtaining Greek citizenship by investment

The Greek Golden Visa program is not a direct citizenship by investment program, but does not limit the rights of the applicant and his family to obtain Greek citizenship and a passport. Holders of a Greek residence permit can apply for naturalization in Greece after seven years.

Greece allows dual citizenship, so there is no need to renounce your previous citizenship.

Costs and taxes when applying for a Greece Golden Visa

Depending on the type of investment chosen, expenses and taxation vary. An example of additional costs and taxes for the most popular option is purchasing real estate in Greece.

Taxes when purchasing real estate in Greece

The main costs when buying property in Greece are property transfer tax, stamp duty and legal fees. Since 2019, when purchasing a new property in Greece with a building permit issued after January 1, 2006, the buyer has been exempt from paying VAT (24% rate). This decision has been extended for another year and VAT on new buildings in Greece will not apply until the end of 2024. This significantly reduces the tax burden for real estate buyers.