Greece
Residency by Investment

Overview

A program allowing non-EU investors to obtain Greek residency permits by investing in real estate or other qualifying assets in Greece.

It is exceptionally competitive as it offers the lowest cost option for residency in Europe (€250,000). The Greek Golden Visa program’s minimum investment has increased to 500,000 EUR, effective May 1st, 2023.

Highlights

Enjoy visa-free access across the Schengen Zone.

After 7 years of residence, you may apply for Greek citizenship.

Benefits of Residency by Investment

Freedom of Movement: Enjoy visa-free access across the Schengen Zone.

Live Where You Choose: There’s no obligation to live in Greece full-time, you simply need to travel to Greece one a year.

Family Included: The residency extends to your spouse, children under 21, and even both sets of parents, a true family-friendly solution.

Pathway to Citizenship: After legally residing in Greece for 7 years, you may apply for citizenship.

No Expiry Stress: The residence permit is renewable indefinitely, as long as your investment is maintained.

Earn Rental Income: You’re allowed to rent out your property investment, creating an additional income stream.

Requirements

€800,000 in real estate, it covers areas such as Attica, Thessaloniki, Santorini and other islands with a combined population of over 3,100.

€400,000 applies to other regions of Greece.

Minimum investment of €250,000 in real estate (€500,000 in Athens, Thessaloniki, Mykonos and Santorini). It is tied to properties converted from commercial to residential use or for properties that hold cultural of historical value and that the investor has fully restored.

Clean criminal record.

Valid passport.

Valid health insurance in Greece.

Proof of funds and legitimate source of income:

Minimum of €3,500 per month. This increases by 20% for a spouse (€400 more) and 15% per child.

It includes pensions, rental income, dividends, or other passive income streams meaning, employment income is not allowed.

An alternative with enough savings for the three-year visa: €72,000 for a single applicant, €86,400 for a married couple, or €112,000 for a family of four.

Administrative Fees for a Golden Visa → €250-€400, varying by region and specific case.

Application process

Choose your Investment: Select a property worth at least €250,000. A range of residential and commercial options are eligible.
Complete Legal Formalities: Get a Greek tax number, open a local bank account, and optionally issue power of attorney.
Purchase the Property: Your lawyer conducts due diligence, then you sign the sale agreement and public deed.
Prepare your Application: Gather required documents (investment proof, ID, insurance, etc.). Legal assistance is recommended.
Submit Biometrics: Provide fingerprints to Greek authorities — this can now be done remotely or in Greece.
Receive your Residence Card: Once approved, you get a 5-year renewable residence permit.
Renew every 5 years: Maintain the investment to renew the permit indefinitely.
Apply for Citizenship (Optional): After 7 years of residence, you may apply for Greek citizenship if integration conditions are met.

How Charfort can help you?

Eligibility assessment, Application Submission

Review your investment plan to confirm it meets the requirements. Ensure the application is accurately completed and submitted to the Greek authorities, minimizing delays and errors.

Appealing rejections

Assist with appealing the decision and addressing the reasons of rejection.

Document preparation, Ongoing legal support

Assist you in gathering the necessary documents.

Help with renewing your Golden Visa, ensuring compliance with residency requirements, and advising on transitioning to permanent residency or citizenship.

Property purchase assistance

Handle the legal aspects of purchasing property in Greece.

Frequently asked questions

Everything you need to know about the process.

Can I travel freely across Europe with Greek residency?

The Greek residency permit allows visa-free travel within the entire Schengen Area.

Is the investment amount refundable if I decide to sell later?

Yes, the investment (such as property) can be sold later, but you must maintain residency requirements to keep your permit.

Are there any taxes on rental income from the investment property?

Yes, rental income is subject to Greek taxation, so it’s important to understand local tax laws or consult a tax advisor.

Can non-EU citizens apply for the program?

Absolutely! The program is designed specifically for non-EU nationals seeking residency in Greece.

What happens if my application is rejected?

You can appeal the decision or reapply once issues are resolved. It’s best to prepare your documents carefully to avoid rejection.

Is it possible to obtain the Greek citizenship?

After 7 years of residence, you may apply for Greek citizenship if integration conditions are met.

Contact us today

Charfort assists international clients in obtaining residence and citizenship under the respective programs. Contact us to arrange an initial private consultation.

Talk with an expert

GreeceResidency by Investment