19 May Guide to Greece Golden Visa

Posted at 23:13h in Uncategorized by Johnny Stevens 0 Comments

The Ultimate Guide to the Greece Golden Visa Program

The country that pioneered the principle of democracy, the fundamentals of Western philosophy and literature, the Olympic games, drama, and theatre is none other than Greece. It is located in southeastern Europe with a population of 10.5 million. Its capital is Athens. It uses the Euro as its currency and Greek is the official language.

Geographically, the Mediterranean Sea and the Ionian Sea touch the Greek border from the South and the West, respectively. Albania, North Macedonia, Bulgaria and Turkey have common borders with the northern parts of Greece.

It has thousands of islands and therefore the longest coastline of all Mediterranean countries. Featuring first-rate education, healthcare services, a cosmopolitan lifestyle and heartfelt hospitality, Greece offers an affordable cost of living and a pleasant climate. The service and industrial sectors are the main pillars of the Greek economy.

All these features explain why Greece is among the most sought-after places in the world to live.

Whether you’re seeking a peaceful place as a retirement home or planning to invest in one of the most beautiful countries in the world, the Greece golden visa in 2025 is for you. The Greek golden visa program is your gateway to European residency, offering several options for you and your family as an investor.

What is the Greece Golden Visa Program?

The Greece golden visa program was launched in 2013. It is one of the most popular residency-by-investment schemes for European countries. This program offers an opportunity for you and your family to live in Greece while also enjoying access to the European Union’s Schengen Area. It further helps you to apply for Greek citizenship.

Who is eligible for a Greek Golden Visa?

1. Non-EU nationality: You should not be a national of any European country. This visa program is available to all non-European nationals, including citizens of the United States, the United Kingdom, China, India and the Middle East.
2. Investment: Investment is another criterion that you should meet. You will have to make a qualifying investment in Greece. Typically, a designated property purchase of at least €250,000 renders you eligible to apply for the golden visa.
3. No past legal convictions: You must have a clean criminal record.
4. Family members: You can include your spouse, children under 21 years of age, parents and parents-in-law.

Benefits of the Greece Golden Visa Program

The Greece golden visa program offers numerous benefits for you and your family.

1. Permanent Residency in Greece

Once you receive your Greek golden visa, you can live in Greece permanently, provided you continue to hold your investment. You are not, however, required to spend any time in Greece as a condition to retain your golden visa. It’s important to note that the golden visa does not allow you to work in Greece; it is a residence permit and not an employment permit.

2. Visa-Free Travel to 28 European Countries

Holding the Greece golden visa will make you eligible to travel visa-free within the other 28 countries of the Schengen Area. You can freely travel for both business and vacation for up to 90 days in any period of 180 days.

3. Access to First-Rate Healthcare and Education

Through the golden visa, you and your family can avail of Greece’s outstanding healthcare services and can enroll in some of the best public schools and universities in Europe.

4. Potential for Citizenship

After living in Greece for 7 years, as a golden visa holder, you can apply for Greek citizenship. Note that you only need to spend 183 days per year in the country in order to meet this requirement. You will also need to pass a basic Greek language test and confirm your intention to live in Greece. With citizenship, you will be granted the full rights of an EU citizen, including the right to live, study, and work anywhere in the EU.

5. Attractive Financial Benefits

Greece is very stable, both politically and economically. You are not obliged to pay any personal tax if your stay is less than 183 days per year. If you have invested in a property, you are free to use it as an investment and receive rental income. In this case, your rental income will be taxable in Greece. However, when you sell your property, you will not pay any tax on your profit.

Investment Options for the Greek Golden Visa

Under the current rules in 2025, there are several investment options available to you if you are seeking the Greece golden visa. These options allow you to choose the one that aligns best with your financial situation, capability and the long-term goals you have established.

1. Real Estate Investment

This is the most popular option for obtaining a golden visa in Greece.

There are four investment categories available, depending on the location and the type of property you are buying. In all cases, the investment must relate to a single residential property.

For the region of Attika (which encompasses Athens, Piraeus, and surrounding suburbs), as well as Thessaloniki and all islands with a population exceeding 3,100, the minimum investment required is €800,000. The property must have a minimum surface area of 120 sqm to qualify.

For all other areas of Greece, the minimum investment is €400,000 and the same minimum surface area of 120 sqm applies.

The third category relates to properties which have been repurposed from commercial to residential use, such as office blocks or industrial buildings which are converted into apartments. The developer may choose to demolish the existing building and erect a new apartment block on the same plot. Alternatively, the existing building may be stripped bare and refitted. The minimum investment required for this category is €250,000. No conditions apply in respect of the location or size of the property.

Finally, the fourth real estate investment category relates to the restoration of listed buildings of cultural or historical significance. For this category, the minimum investment is also €250,000.

The Greek real estate market has grown substantially in recent years, making it an attractive investment option.

2. Fixed Term Deposit

You may choose to deposit a minimum amount of €500,000 for a fixed period of a minimum of 5 years with any bank in Greece.

3. Government Bonds

Another low-risk and low-return investment option for you could be in Greek government bonds. The minimum investment you would need to make in government bonds is €500,000 and you must hold these for at least 5 years.

4. Mutual and Alternative Investment Funds

You may elect to participate in a Greek mutual fund that invests exclusively in Greek listed company shares or bonds or you may prefer an alternative investment fund, provided this invests exclusively in Greece. In both cases, the minimum investment required is €350,000.

5. Investment in Greek Listed Companies

Finally, you may qualify for the Greece golden visa by investing a minimum amount of €800,000 in shares or bonds issued by public companies listed on the Athens Stock Exchange.

Tax obligations

1. Income Tax

Your overseas income will only be taxable in Greece if you spend more than 183 days per year in the country. Any rental income you receive on your Greek investment property will be taxable regardless of whether you live in Greece or not.

The first €10,000 of your income is exempt from tax. Income between €10,001 and €40,000 will be taxed at incremental rates ranging between 22% and 36%. Any income over €40,000 will be taxed at the top marginal rate of 44%.

2. Non-Domiciled Resident Tax Regime

If you choose to take up residence in Greece as a non-domiciled tax resident, you may elect to pay an annual lump sum tax of €100,000 on your foreign income. This will be independent of the actual amount of foreign income you earn. You can avail of this tax regime for up to 15 years, thus avoiding any obligation to declare your overseas income.

3. Tax on Foreign Pension

Should you receive a foreign pension after taking up residence in Greece, as a non-domiciled foreigner, your pension will be subject to tax at a flat rate of 7%.

4. Inheritance Tax

Any real estate property you own within Greece will be subject to inheritance tax. The first €100,000 of the value of the property is exempt from tax. After that, 1% tax is levied on the next €100,000; then 5% tax on a value between €200,001 and €300,000; and 10% tax on any value exceeding €300,000. No inheritance tax applies to any property or assets you own outside Greece.

How to Apply for the Greece Golden Visa in 2025

Though the application process for the Greece golden visa is comparatively straightforward, you will need to follow a number of steps. Let us see the step-by-step process.

1. Choose Your Investment Option and Complete Your Investment

As a first step, you will need to select an investment option that is suitable for you. You can choose any of the options discussed above, including real estate, bank deposit, government bonds, investment funds or shares.

If you are investing in property, you will need to execute the purchase contract and pay the full amount (even if the property is under construction). Compliance checks will be performed by the bank to confirm the legitimate source of your funds. You can complete the investment process remotely by issuing a power of attorney to a lawyer.

You will also need to register with the Greek tax authorities and obtain a Greek tax identification number.

2. Collect the Required Documentation

The next step for you is to gather all the required documents. These will typically include:

The passports of all applicants
Proof of completing your investment
Official police extract (or equivalent) confirming you have no criminal record
Health insurance policy for you and your family (this can be arranged in Greece)
Documents evidencing your relationship with your accompanying family members (such as marriage and birth certificates)

3. Application Submission

Your immigration agent will then submit your application to the Ministry of Migration and Asylum of the Greek government. Upon submission, a temporary residence permit will be issued. This, in fact, allows you to immediately take up residence in Greece should you wish to do so, while you wait for your application to be processed.

4. Obtain Your Golden Visa

The processing time for your golden visa application is approximately 3 months. Once your application is approved, you will receive an invitation to meet with the immigration authorities. During this meeting, you will be required to provide your biometric data. Your photo will be taken and fingerprints collected.

After a few weeks, Greek ID cards and golden visas will be issued to you and your family. The residence permits will be valid for 5 years and can be renewed for as long as you maintain your investment.

Permanent Residency in Greece

The Greek golden visa will open up the path to citizenship for you. After completing 7 years of residency, you can apply for citizenship, provided you also fulfill the language and integration requirements.

Alternatively, if citizenship is of no interest to you, you may simply renew your Greece golden visa indefinitely, on the condition that you continue to maintain your investment in the country.

Potential Challenges and Matters to Consider

With the benefits of the Golden visa program, you should also be aware of certain matters that may affect your eligibility to obtain or renew your permit to live in Greece.

Investment thresholds updates: The country reviews its minimum investment thresholds from time to time and with no prior notice. It will therefore be very important for you to remain updated on such policy changes to avoid unforeseen consequences. The most recent changes took place in September 2024, when investment thresholds were increased substantially, while at the same time introducing the €250,000 investment category for repurposed properties.
Rental restrictions: Restrictions on rental properties are something you need to consider if you are investing in a property for rental income. While you are free to rent your property out, this cannot be done on the short-term rental market, such as Airbnb.
Residency versus citizenship: While the visa grants residency rights, you will need to spend the majority of your time in the country for 7 years and meet additional conditions if you would like to obtain Greek citizenship.

The Greece golden visa program in 2025 is no doubt an attractive opportunity for you as an investor seeking European residency. Relatively low investment limits, free access to the Schengen Area, the potential for gaining Greek citizenship, inclusion of your family members and an impeccable quality of life render the Greece golden visa program an attractive option for you as an individual seeking to diversify your assets and to gain access to Europe. The golden visa program provides a practical and flexible route to achieving your goals.

You need to carefully consider the investment opportunities, eligibility criteria and the application process outlined above before making an informed decision about your next move with respect to the Greece golden visa in 2025.

Posted 19 May 2025