Greece Golden Visa Explained: What It Is, Who Qualifies, and What It Costs

The Greece golden visa is a residency-by-investment permit issued under Law 4251/2014, granting a five-year renewable residence permit to investors and their immediate family, including a spouse and children up to age 21. It does not lead directly to citizenship, but after seven years of legal residence you can apply for naturalization if you also meet language and integration requirements. Holders get full Schengen zone access, meaning 90 days in any 180 across the other 26 Schengen countries. For a broader comparison of how investment residency programs are structured globally, see Golden Visa Explained: How Investor Residency Programs Actually Work.

Real estate is by far the dominant route. As of 2024, Greece split the country into two tiers: high-demand zones including Athens, Thessaloniki, Mykonos, Santorini, and any island with a population above 3,100 require a minimum purchase of EUR 800,000. All other areas of Greece require EUR 400,000. The property must be a single asset, not split across multiple smaller purchases. Alternative routes exist, including a EUR 500,000 capital contribution to a Greek company, a EUR 500,000 investment in Greek government bonds or mutual funds, or a EUR 400,000 deposit in a Greek bank, though real estate remains the most commonly used path.

Buying property in Greece adds meaningful transaction costs on top of the headline investment figure. Property transfer tax runs 3.09% of the purchase price on older resale properties. Legal and notary fees typically add another 1 to 2%. A licensed Greek lawyer is not legally required but is strongly recommended and usually costs EUR 2,000 to EUR 5,000. Government fees for the golden visa application itself are EUR 2,000 per main applicant plus EUR 150 per dependent for the permit card, and a EUR 16 stamp duty applies. Annual property tax (ENFIA) varies by location and property size but is generally modest for a single mid-range asset.

The process begins with opening a Greek bank account and obtaining an AFM tax number, both of which can be done in person or through a power of attorney held by a local lawyer. After completing the property purchase and registering the deed, you file the residency application with the relevant Regional Asylum Service office. Processing times have historically run from four to twelve months depending on the regional office and application volume, with Athens being the slowest. Greece introduced a digital application submission system to reduce backlogs, but in-person biometrics are still required at some stage. A temporary certificate of application is issued on filing and serves as proof of legal status while you wait.

Holding a Greek golden visa does not make you a Greek tax resident automatically. Tax residency in Greece is triggered by spending more than 183 days per year in the country, maintaining your primary home there, or having your center of economic interests there. Most investors who use the program purely as a residency option and live elsewhere pay no Greek income tax on foreign income. If you do decide to activate Greek tax residency, Greece offers a non-dom flat tax regime of EUR 100,000 per year on all foreign-sourced income, available to individuals who have not been Greek tax resident in seven of the prior eight years and who invest at least EUR 500,000 in Greece.

Portugal's program overhauled its real estate route in 2024, removing direct residential property purchases and pushing investors toward funds, which starts around EUR 500,000. Spain announced its intention to abolish its golden visa program for real estate investors in 2024, though implementation has faced delays. Greece's program stands out for still permitting straightforward residential property purchases in most of the country at EUR 400,000, a clear ownership structure, and zero physical presence requirements. The Schengen access is identical across European programs, so the differentiating factors come down to investment type, minimum amount, processing efficiency, and whether you eventually want a path to an EU passport.