Residence permit in Greece for investment
Foreign citizens can get a Golden Visa in Greece by investing in local housing from €250,000 (this minimum threshold is valid until August 31, 2024; from September 1, the amount will increase to €400,000). This allows them to move to Greece for permanent residence. The processing time takes from 4 months, and the residence permit is valid for 5 years with the possibility of extension. It allows free travel to countries within the Schengen area, making this programme particularly attractive.
Investing in Greek real estate also promises good returns due to the growing market. The appreciation of housing in tourist-popular regions can significantly increase the initial investment, providing owners with profitable options for generating passive income through rentals.
Besides real estate investments, foreigners can also invest in local enterprises’ capital, purchase shares and government bonds, or open bank deposits. These types of investments require a minimum of €500,000.
Investments in investment funds are also possible, where the minimum threshold is €350,000.
To obtain a residence permit, it is not necessary to pass language proficiency or history tests. Residence in the country is not mandatory unless the investor seeks to obtain citizenship in Greece in the future.
Conditions for obtaining a residence permit in Greece
Who can apply for the Greek Golden Visa:
- A non-criminal investor who is at least 18 years old.
- The investor’s partner with whom they are in a registered marriage.
- The investor’s children up to 24 years old who are unmarried or students over 21 years old.
- The spouse’s children up to 21 years old who are under the investor’s guardianship.
- The parents of the investor and the investor’s spouse, with no age restrictions.
Comparison of conditions for obtaining a residence permit in Greece
| Conditions | For Investors | For Financially Independent Individuals | For Freelancers |
|---|
| Investment |
From €400,000 (from September 1, 2024) |
No |
No |
| Family |
Spouse, children up to 24 years old, parents |
Spouse, minors up to 18 years old |
Spouse, minors up to 18 years old |
| Term |
5 years |
2 years |
1 year |
The Golden Visa programme in Greece is available to residents from any country. The programme is attractive to many foreign investors due to its relatively accessible conditions and the prospect of a smooth transition to citizenship.
Investor expenses in Greece – from €400,000
The cost of obtaining a residence permit in Greece depends on the chosen investment format:
- Purchase of housing worth over €400,000. If the property is purchased jointly by spouses or partners, each must contribute a corresponding share of the investment.
- Long-term lease of a hotel or tourist apartment for 10 years with investments starting from €250,000.
- Timeshare of a tourist residence: the purchase of residency time in a tourist residence must also meet the minimum threshold of €250,000.
- Receiving an apartment or house as inheritance or as a gift. The value of the transferred property must be at least €250,000.
- Purchase of shares in investment funds. Investments start from €350,000.
- Opening a deposit account. The minimum amount of funds placed in Greek banks is €500,000.
- Investments in Greek companies. The required amount starts from €500,000.
- Purchase of government bonds in an amount of at least €500,000.
- Purchase of company shares. The amount of investments must exceed €800,000.
These diverse options provide investors with the opportunity to choose the appropriate method of investing funds to secure their immigration to Greece.
| Investor | Expenses |
|---|
| Real estate purchase |
From €400,000 |
| Transfer tax |
3.09% of the purchase price |
| Fees |
1–2% of the property price |
| Residence permit application fee |
€150 per person aged 18 and over |
| Medical insurance |
From €300 |
