Key Highlights
The Greece Golden Visa program has established itself as the most appealing residence-by-investment scheme for wealthy individuals who want to live in the EU and benefit from European mobility and long-term stability. Since its inception in 2013, this program has captivated the attention of global investors with its cost-effective entry points, lenient requirements, and extensive benefits that go far beyond mere residency rights.
Greece's strategic location in southeastern Europe, along with its European Union and Schengen Area membership, makes it an excellent springboard for investors for further access to Europe. The popularity of the program has seen a significant rise in recent years, with the year 2024 seeing 9,289 applications - a 10% increase from 2023 and almost twice the number recorded in 2022.
Investment Thresholds and Options
The Greece Golden Visa offers multiple investment routes, each tailored to different investor preferences and geographic zones. The tiered structure provides flexibility while ensuring substantial economic contribution to the Greek economy.
Real Estate Investment Categories
The real estate option continues to be the most sought-after choice for international investors, especially in view of the competitive property market in Greece. The average property value in Athens is around EUR 3,200 per m2, which is much lower than the values of similar European capitals, such as Lisbon (EUR 5100) or Madrid (EUR 5400).
|
Investment Zone |
Minimum Amount |
Property Type |
|
Heritage/Industrial Conversion |
€250,000 |
Listed buildings, commercial-to-residential conversions |
|
Most Greek Regions |
€400,000 |
Residential properties, minimum 120 sqm |
|
Premium Zones |
€800,000 |
Athens, Thessaloniki, major islands |
Alternative Investment Routes
Beyond real estate, Greece offers several financial investment pathways:
-
Bank Deposits: €500,000 minimum with Greek credit institutions
-
Government Bonds: €500,000 with a minimum three-year maturity
-
Corporate Equity: €500,000 in Greek companies or regulated mutual funds
-
Tourism Leases: €400,000-€800,000 for hotel or tourist residence agreements
Also Read: Difference Between Tourist Visa and Visitor Visa
Family Inclusion Benefits
Greece's Golden Visa program is notable for its generous family coverage policies. The program provides residency rights to an unusually wide family unit, which makes it especially appealing for multi-generational wealth preservation purposes.
Eligible Family Members
Greece stands out from competitors such as Portugal or Cyprus with its generous coverage of family benefits in comparison with the benefits offered in these countries, which are less comprehensive. The added value for investors planning multi-generational estate plans is the ability to involve parents on both sides of the family.
|
Relationship |
Age Limit |
Additional Requirements |
|
Spouse/Partner |
No limit |
Legal marriage or registered partnership |
|
Children |
Under 21 |
Must be unmarried dependents |
|
Student Children |
21+ |
Continued enrollment verification required |
|
Parents |
No limit |
Both the applicant and spouse's parents are included |
Schengen Area Access and Mobility
The Greece Golden Visa offers free and unrestricted access to the Schengen Area of 27 countries, opening up unprecedented mobility for its holders and their families. The benefit is not just for tourism, but also allows for business operations, educational opportunities and access to healthcare in participating countries.
Holders of the visa are free to move around within the Schengen Area for up to 90 days in any 180-day period without further documentation. For business leaders and international entrepreneurs, this mobility translates into strategic worth far above its initial investment cost.
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Path to European Citizenship
After seven years of holding residency in Greece, Golden Visa holders will be eligible to apply for Greek citizenship. The European Residency Program, which doesn't require any physical presence (there are no minimum stay requirements during the residency period), is available for investors who do not wish to live in the country.
Greek citizenship allows access to an EU passport, which in turn affords free movement throughout Europe, the right to vote, and access to all rights of the European economic system. The citizenship process is both linguistic and cultural, so a basic knowledge of the Greek language and the culture and history of Greece is needed.
Processing Timeline and Requirements
Greece is one of the most expedient countries in Europe, where a complete application can be processed within 2-4 months. This efficiency is derived from simplified documentation requirements and streamlined processing lanes for qualified investors.
Required Documentation
-
Valid passport and visa for entry
-
Negative criminal background check
-
Evidence of investment (purchase contracts for property or financial transfers)
-
Health insurance coverage
-
Application fees: EUR 2000 for the main applicant, EUR 150 for family members
Additional costs include legal fees and property transfer taxes, typically totalling 11-12% of the property purchase price.
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Market Performance and Economic Context
The recovery of the Greek economy from the 2008 financial crisis has provided investors with great conditions for property investment. The property market remained stable and on an upward path since 2023, with rental income offering stable returns to Golden Visa investors.
The program is part of the Greek government's commitment to larger economic development goals, ranging from tourist infrastructure development, urban regeneration projects, and growth of the technology sector. These macro-economic factors provide long-term value growth and rental income potential for property.
Comparative Advantages
Greece's Golden Visa continues to offer enticing benefits over competing European programs:
-
Portugal: Removed the option to invest in real estate back in 2023, forcing investors to invest in funds
-
Spain: The Golden Visa program closed completely recently
-
Cyprus: Increased investment thresholds and greater requirements for complexity
-
Malta: Much higher costs, but compulsory government contribution
These market developments have focused investor interest on Greece as the only remaining European destination available for acquisition of a residency through real estate investment.
Also Read: UK Immigration: All You Need to Know
Tax Considerations and Benefits
Greece provides attractive tax benefits for Golden Visa holders, especially those who have their main tax residence abroad. The widespread network of double taxation treaties helps to eliminate the possibility of dual taxation for many foreign investors. Special tax regimes are aimed at the following investor categories:
-
Retiree tax benefits are offered at lower rates
-
Remote Workers' Digital Nomad Programs
-
Benefits for startup investors for investing in the technology sector
Proper tax advice continues to be needed to maximise these benefits on an individual basis, and depending on the source countries.
Conclusion
The Greece Golden Visa Schengen Residency programme reflects an exceptional value for investors who are looking for European mobility, family security and long-term wealth preservation strategies. With investment thresholds as low as EUR250,000, a strong family inclusion provision, and a guarantee of a route to EU citizenship, Greece has positioned itself as the European country of choice for residence-by-investment. For official information and application details, visit the Greece Golden Visa government website. For expert guidance and tailored solutions, explore TerraTern's services for Greece Golden Visa investors at TerraTern now!
