Golden Visa in Greece: Complete Guide (2025)

What is the Golden Visa?

The Greek Golden Visa is a permanent investor residence program launched in 2013, attracting foreign investors through real estate investments of at least €250,000. In essence, it is not a conventional entry visa, but rather a five-year residence permit granted in exchange for capital investment in the Greek economy.

With recent legislative changes, the program has been updated to encourage higher levels of investment and help regulate the real estate market.

The Golden Visa allows the investor and their family to reside legally in Greece without any requirement to settle there permanently - meaning they are free to live or travel as they wish.

It also offers the additional advantage of European residence, since it includes the ability to move freely within the Schengen Area (27 countries) without needing a visa.

What are the benefits of the Golden Visa?

Holders of the Greek Golden Visa enjoy significant benefits both in Greece and internationally.

Primarily, they gain the right to live in Greece on a permanent basis for an initial period of five years, with the possibility of unlimited renewals in five-year increments as long as they maintain their investment. There is no minimum annual stay requirement, meaning the investor can retain the permit even without residing permanently in the country.

Additionally, the permit grants free movement within the Schengen Area, allowing stays of up to 90 days within any 180-day period in other member states, without needing an additional visa.

Moreover, holders and their families have access to public services such as healthcare and education under the same terms as Greek citizens. A major benefit is family reunification: along with the main investor, residence permits can be granted to family members – the spouse, minor children (or adult children up to 21 years old), as well as the parents of the investor and/or the spouse. This means that the Golden Visa provides a strong sense of security and stability for the investor’s entire family.

Finally, it is worth noting that, under certain conditions, this status may serve as a pathway to long-term residence and potentially a future application for Greek citizenship, although this requires separate procedures and genuine residence in Greece over a number of years.

Who can obtain a Golden Visa?

To participate in the Greek Golden Visa program, an applicant must meet specific eligibility criteria:

Nationality: Must be a citizen of a country outside the European Union / EEA.

Age: Must be an adult, i.e. 18 years or older.

Criminal record: Must have a clean criminal record, with no serious convictions, both in their home country and in any country where they have resided.

Real estate investment: Must have purchased real estate in Greece with a value of at least €400,000 or €800,000 (depending on the location of the property), according to the new thresholds applicable for the period 2023–2025. In specific investment cases, such as the conversion of industrial buildings into residential properties, the restoration of listed buildings, or the conversion of commercial properties into residences, the minimum threshold remains €250,000.

Financial means & insurance: Must have the financial resources to fully cover the investment and hold private health insurance valid in Greece, for themselves and their family members.

Which properties qualify for the Golden Visa?

The new investment thresholds vary geographically: in high-demand areas – such as the Attica Region (including Athens), Thessaloniki, and popular tourist destinations like Mykonos and Santorini – an investment of €800,000 is required in a single property with a minimum area of 120 sq.m.

Across the rest of Greece, the minimum threshold is €400,000 for a single property. The €250,000 exception applies only to special projects, as mentioned above, and does not apply to standard residential purchases.

Payment must be completed and the property fully transferred to the investor (registered with the Land Registry), while the submission of the required documents is also necessary, including:

• the purchase contract

• the registration certificate

• a copy of the passport

• photographs and the health insurance policy

Only once all of the above criteria are fulfilled can the applicant obtain the permanent investor residence permit.

How long does the Golden Visa last and what happens afterward?

The residence permit granted through the Golden Visa program is valid for five (5) years from the date of issuance. After five years, the investor may apply for a further five-year renewal, provided they continue to meet the main requirements - most importantly, that they still own the investment property on which the permit was based. There is no limit to the number of renewals: the permit can be renewed indefinitely every five years, essentially offering permanent residence in Greece as long as the investor maintains ownership of the property and continues to fulfil the legal conditions.

Furthermore, residence permits issued to accompanying family members have the same duration and are renewed alongside the main investor’s permit, as long as family ties and other conditions remain valid.

It is important for investors to note that although the Golden Visa grants long-term residence, it does not equate to citizenship. If the goal is to obtain Greek nationality, genuine residence in Greece for several years - as well as additional requirements, such as a language and cultural knowledge exam - must be fulfilled in accordance with Greek law.

Nevertheless, the Golden Visa serves as a stable framework for residence and mobility, giving the investor and their family the flexibility to live in or travel within Europe safely and legally for as long as they wish, provided they maintain their investment.

How does the Greek Golden Visa compare to other European programs?

The Greek Golden Visa remains one of the most affordable and flexible programs in the EU, as it does not require permanent residence or tax residency in Greece. By comparison, Spain requires a minimum real estate investment of €500,000 and allows residence without tax domicile, while Portugal has now suspended Golden Visa applications through residential property investment, focusing solely on capital and innovation-based investments. Malta offers both residence and citizenship pathways but with significantly higher financial requirements, whereas Cyprus permanently suspended its citizenship-by-investment program in 2020.

In this context, Greece stands out by offering a relatively low entry threshold and a stable legal framework, making it an attractive destination for investors seeking access to the European market and Schengen mobility.

How can Engel & Völkers help you?

With an extensive portfolio of properties that fully meet the requirements for the Greek Golden Visa, Engel & Völkers has created a comprehensive guide for anyone interested in obtaining a residence permit through real estate investment.

The guide clearly outlines current purchase prices, eligibility criteria, the step-by-step application process, and all required documentation for the issuance of the residence permit. It also includes answers to frequently asked questions about this type of residence permit for property owners.

If you would like more information beyond what is covered in this guide, or if you need any clarification, you are of course welcome to contact us.

The experienced advisory team at Engel & Völkers is at your disposal to provide accurate and up-to-date information, in line with the guidelines of the General Secretariat for Population and Social Cohesion of the Ministry of the Interior.