The Golden Visa Program in Greece: The Ultimate Investment and Legal Guide
Over recent years, Greece has established itself as one of the world’s top investment destinations. Its strategic location, excellent climate, and growing economy attract thousands of investors. However, the primary tool for third-country nationals (non-EU citizens) wishing to invest in the country remains the Golden Visa program.
As a law office with years of experience in Real Estate and Immigration Law, our goal is to provide you with a comprehensive and straightforward guide on how to acquire a Greek residence permit through investment, while safeguarding your capital.
For more information, you can also contact us on What’s up: https://wa.me/306975066834
Why Choose the Greek Golden Visa?
The Greek Golden Visa program offers a series of unique privileges to the investor and their family:
- Free Movement in the Schengen Area: The Golden Visa holder can travel freely for 90 days within any 180-day period, without a visa, to most European countries (within the Schengen zone).
- Family Coverage: The residence permit is not limited to the investor. It extends to the spouse (or partner with a civil partnership agreement), unmarried children under 21 years of age, as well as the parents of both spouses.
- No Minimum Stay Requirement: Unlike other countries, Greece does not require the investor to reside in the country for a specific period to maintain the permit.
- Education: The minor children of investors enjoy unhindered access to the Greek public education system.
- Healthcare: Regarding medical care, Golden Visa holders have full access to the country’s healthcare facilities using their private health insurance policy (obtaining private health insurance is a mandatory legal requirement for the approval of the residence permit).
- Pathway to Citizenship: After seven (7) years of continuous and lawful residence in Greece, the investor earns the right to apply for Greek Citizenship and a European Passport.
The New Real Estate Investment Thresholds
The legislative framework for the Golden Visa was recently updated, creating a two-tier investment “map”. It is crucial to be aware of the new thresholds before you begin your property search:
- The €800,000 Investment (High-Demand Zone)
To acquire the Golden Visa in areas with high residential and tourist interest, the minimum investment threshold is now set (following the amendment of Law 5100/2024) at €800,000. This applies exclusively to a single property, with a minimum surface area of 120 sq.m. The areas falling under this zone include:
- The entire Attica Region (including Athens).
- The Regional Unit of Thessaloniki.
- The islands of Mykonos and Santorini.
- All Greek islands with a population of over 3,100 residents.
- The €400,000 Investment (Rest of Greece)
For all other areas of the country, the threshold is set at €400,000, again for one (1) property with a minimum surface area of 120 sq.m.
- The €250,000 Exception
There are two significant exceptions where the threshold generally remains at €250,000, regardless of the area (even in central Athens):
- When the investment involves a property of another use (e.g., industrial or commercial) that is being converted into a residence, strictly in accordance with the law’s prerequisites.
- When the investment involves the restoration of a listed building, strictly in accordance with the law’s prerequisites.
Important Legal Note: Properties purchased under the Golden Visa program are now strictly prohibitedfrom being used for short-term rentals (e.g., Airbnb). Furthermore, if the property is a commercial-to-residential conversion, it is prohibited from being used as a registered company headquarters. Violations result in severe administrative fines and the revocation of the residence permit.
Alternative Forms of Investment
Although purchasing Real Estate remains the most popular choice, the law also provides alternative pathways to acquire the Golden Visa through capital transfers (investments). For example:
- Corporate Investment: According to Article 97 of the law, the Golden Visa is granted to third-country nationals (up to 3 executives/shareholders) who establish and operate a company based in Greece, making a minimum investment of €500,000 that yields a positive impact on the national economy. This is the ideal option for corporate relocations.
- Financial Products: For those desiring a “clean” investment without the complexities of real estate, Article 99offers a solution with a minimum threshold of €500,000. Examples include:
- Term Deposit: €500,000 in a Greek credit institution.
- Government Bonds: €500,000 in Greek State bonds.
The Process: Step-by-Step
Acquiring a Golden Visa requires careful legal handling. Our firm undertakes the entire process with transparency and speed:
- Granting Power of Attorney: With a simple notarial Power of Attorney (signed either in Greece or at the Greek Consulate in your home country), you authorize us to act on your behalf.
- Issuance of a Tax ID (AFM) and Bank Account Opening: We issue the necessary Greek Tax Identification Number and open an account for you in a Greek bank.
- Legal Due Diligence: Prior to any purchase, our team conducts a thorough legal check at the Land Registry/Cadastre to ensure the property is free of encumbrances, mortgages, and legal defects.
- Purchase Agreement: We draft and sign the real estate purchase contract, proceeding with its lawful registration.
- Filing the Application: We collect all necessary documentation (health certificates, criminal records, etc.) and submit the application for the residence permit.
- Biometrics Collection: You will only need to travel to Greece once to provide your biometric data (fingerprints).
Are you ready to take the next step? Contact us today to schedule an in-person or online (video call) consultation. Our team will analyze your profile and safely guide you toward the most successful investment move of your life.
You can also contact us on what’s up app : https://wa.me/306975066834
