Greece Golden Visa Program: Full guide

The Greece Golden Visa Program is a great option for people who want to get residency in Europe. Introduced in 2013, this program offers a 5-year residence permit in exchange for a real estate investment starting at 250,000 EUR.¹

The program has gone through some changes in 2024, but it's still one of the more affordable Golden Visa programs in Europe. It gives you a pathway to Greek citizenship, too.

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Table of contents
What is the Greece Golden Visa program? Who’s eligible for a Greece Golden Visa? Greece Golden Visa requirements Costs and fees of residency by investment Buying property abroad? Send money the hassle-free way with Wise Getting a Greece Golden Visa: step by step Greece Golden Visa program timeline Greece Golden Visa renewals Greek citizenship by investment Greece Golden Visa FAQs

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What is the Greece Golden Visa program?

The Golden Visa in Greece is a residency-by-investment scheme that allows you to apply for a Greek residence permit through different investment options. Real estate investments are the most popular choice and start as low as 250,000 EUR.¹

Greece introduced this program in 2013 to attract foreign investment and boost the country's economy after a financial crisis. If you want to experience living in Greece or enjoy visa-free travel around Europe, the Greek Golden Visa program is a great option.

Greece Golden Visa quick facts
Minimum investment: 250,000 EUR¹ Processing time: 3-4 months¹ Time to citizenship: 7 years¹ Duration: 5 years (unlimited renewal)¹

Benefits of a Greece Golden Visa

Getting a permanent residence permit in Greece comes with quite a few advantages.

• Right to live and study in Greece: Visa holders can spend unlimited time and study in Greece, but you won't have the right to work in the country

• Visa-free travel in the Schengen Area: You can travel freely in Europe and stay for up to 90 days in any 180 days in Schengen countries

• No residence requirement: Some residency programs require you to spend a certain amount of time in the country to maintain your status, but the Greek Golden Visa doesn't

• Family inclusion: Your spouse, children under 21, and dependent parents can also get residency permits

• Property rental allowed: You can earn income by renting out your real estate property for long-term rentals

• Path to citizenship: After 7 years of residency, you can apply for Greek citizenship¹

• Double taxation treaties: Greece has agreements with some countries to prevent double taxation on income

Plus, Greece has a low cost of living, especially when compared to many other European countries.

Who’s eligible for a Greece Golden Visa?

As long as you have the funds to purchase real estate property or invest in other eligible ways, you should be able to get a Golden Visa in Greece.

Greece residency requirements are pretty straightforward:

• Be a non-EU/EEA citizen
• Be over 18 years old
• Have a clean criminal record
• Have valid health insurance for Greece
• Make a qualifying investment in Greece (real estate, government bonds, or other options)
• Prove the legality of your investment funds
• Not pose a threat to public order or security

If you have a clean criminal record and the necessary funds, you should be able to participate in the Greece Golden Visa scheme without any problems.

Greece Golden Visa requirements

The Greece Golden Visa program went through some changes in 2024. These changes mostly affected the real estate investment options, but they remain the best way to get Greece's Golden Visa for most people.

Here are the requirements you can expect when making a property investment:

Location²	Real estate requirement²
The entire region of Attica (including Athens), Thessaloniki, Mykonos, Santorini, and 32 other popular islands	800,000 EUR
Properties outside of the prime areas	400,000 EUR
Commercial-to-residential conversions and restoration of listed buildings (limited availability)	250,000 EUR

🔍 Wondering how much that would cost in USD? Check out this handy conversion calculator:

Finding a real estate investment that qualifies for the 250,000 EUR threshold has gotten more difficult with the 2024 changes, but it's still possible. After 5 years, the restoration must be complete if you want to renew your Greek Golden Visa.²

Even with the Greece Golden Visa cost increasing, it’s still a relatively affordable option when compared to other European Golden Visas.

Additional Greece Golden Visa requirements

A real estate investment isn't the only option you have. Other paths to Greece residency by investment include¹:

• A 10-year time-sharing or lease agreement for hotel accommodation or furnished tourist residences valued at 400,000 EUR or 800,000 EUR, depending on the location

• A fixed-term deposit of at least 500,000 EUR with a Greek credit institution

• A 500,000 EUR capital contribution to Greek real estate investment companies, investment funds, or Greek-based companies

• Purchase of Greek government bonds worth at least 500,000 EUR with a minimum three-year maturity

• Acquisition of shares, corporate bonds, or Greek government bonds traded on regulated Greek markets, valued at least 800,000 EUR

• Purchase of mutual fund shares or stocks worth at least 350,000 EUR, investing in Greek markets or dedicated to investing in Greece

In other words, plenty of other Golden Visa application options exist. But real estate investment is still the most attractive path, even with the Greece Golden Visa new rules.

Costs and fees of residency by investment

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Government fees

To get a Greece residence permit for 5 years as a real estate owner, you'll typically need to pay the following fees.

Fee type	Amount³
Application fee (main applicant)	2,000 EUR
Application fee (per family member)	150 EUR
Residence permit card (per person)	16 EUR

Children under 18 don't have to pay the application fee.

Additional fees

You'll also usually have to cover additional fees related to the real estate purchase when getting Greek permanent residency. These are based on the property value.

Fee type⁴	Estimated cost⁴
Property transfer tax	3.09%
Notary public fees	Typically 1.2%
Legal fees	0.8-1.2%
Real estate agency fees	Typically up to 2%

Keep in mind that this isn't an exhaustive list. There might be additional fees depending on your specific real estate investment and personal situation.

Buying property abroad? Send money the hassle-free way with Wise

Now that we covered all the basic costs of a Greece Golden Visa, the only question left is: how to send money to pay for your property overseas?

Wise offers you a quick, secure and transparent way of sending money to Greece. You get the mid-market exchange rate for your payments and see how much it’s charged for the transfer before sending the money from your bank.

With the Wise Account you can also hold 40+ currencies, spend money in 150+ countries, and receive like a local in 9 different currencies.

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Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

Getting a Greece Golden Visa: step by step

Here's what you can typically expect from the process of getting a Golden Visa in Greece.

1. Choose your investment path: Decide on the type of investment you want to make (real estate, government bonds, alternative investment fund or other options)

2. Invest: Purchase a property that meets the program requirements or make another qualifying Greek Golden Visa investment

3. Start your application: Get all the necessary documents and send your application to the Greek authorities

4. Visit Greece for biometrics: You'll need to provide your biometric data (fingerprints and photos) in person

5. Go through the due diligence process: Greek authorities will review your application and do background checks

6. Get your Golden Visa: Once approved, you'll get your Greek residence permit

Many foreign investors use Golden Visa agencies or lawyers to go through the process. This helps you avoid mistakes and makes the entire process smoother.

Greece Golden Visa required documents

To apply for the Greece Golden Visa, you'll typically need:

• a valid passport
• proof of investment (ex: property purchase documents)
• proof of health insurance coverage in Greece
• a clean criminal record certificate from your country of residence or origin
• other supporting documents

You and your family members may need to show additional documents depending on your personal situation.

Greece Golden Visa program timeline

Here's the general Greece Golden Visa timeline you can expect.

Checkpoint	Duration
Processing time	3-4 months from application submission to approval¹
Initial duration	5 years¹
Renewals	Can be renewed indefinitely every 5 years¹
Path to citizenship	Possible after 7 years but comes with additional requirements¹

Having all of your documents in order improves your chances of getting your Greek residency permit faster. That said, 3-4 months of processing time is a pretty swift timeline for most European countries.

Greece Golden Visa renewals

You can renew your Golden Visa every 5 years indefinitely.¹ The specific requirements to renew your Golden Visa depend on your investment path, but you typically need to:

• Maintain your qualifying investment
• Submit a renewal application before your current permit expires
• Pay the renewal fee
• Provide updated documentation (proof of investment, valid health insurance, and other supporting documents)

If you invest in Greek real estate property, you can rent it out to generate extra income - but only if you rent it long-term. With the Greece Golden Visa new rules, short-term rentals (such as Airbnb) aren't allowed.

You can also sell your property, but then you won't be able to renew your Golden Visa residence card.

Greek citizenship by investment

After holding a Greece Golden Visa for 7 years, you may be able to apply for Greek citizenship. But this comes with pretty strict requirements, such as living in Greece, integrating into the Greek society and knowing the Greek language, history and culture.

The citizenship application is separate from the Golden Visa program and has its own set of requirements and procedures. It's possible, but it's more difficult.

Greece Golden Visa FAQs

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Did the Greek Golden Visa change in 2024?

Yes, the Greece Golden Visa program went through big changes in 2024. According to the new law, there's now a new requirement for your property to be at least 120 square meters.

The Golden Visa minimum investment amount for real estate in popular areas has increased to 800,000 EUR, and it must be a single property investment. That said, there's still an option to invest 250,000 EUR in specialized real estate to qualify for Greek residency, but these types of properties are more limited.¹

How long can you stay in Greece if you own a property?

Owning property in Greece doesn't automatically grant you the right to stay in the country long-term. If you apply for the Greece Golden Visa through property investment, you can stay in Greece indefinitely as long as you maintain your investment and renew your permit every five years.

To qualify, minimum real estate investments range from 250,000 EUR (for specialized real estate) to 800,000 EUR (for properties in popular areas like Athens and Santorini).¹

Without a Golden Visa, non-EU citizens are typically limited to 90 days within 180 days in the Schengen Area. This rule applies even if you own property in Greece.

What is the 7 year law in Greece?

The 7-year law in Greece is the residency requirement for naturalization. This law allows people who have legally resided in Greece for 7 consecutive years (including Golden Visa holders) to apply for Greek citizenship.

Keep in mind that meeting the 7-year residency requirement alone doesn't guarantee citizenship. You'll also have to fulfill other criteria, such as demonstrating integration into Greek society and passing a citizenship test.

Can US citizens own property in Greece?

Yes, US citizens can own property in Greece. There are no restrictions on foreign ownership of real estate in most areas of Greece. But if you want to buy property in border regions or on certain islands, you may need to get additional permits.

💡 Learn more about buying property in Greece as an American in our full guide.

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The Greece Golden Visa program is a way to get residency in exchange for an investment. It gives you the right to live and study (but not work) in Greece with a potential path to citizenship.

There are a few investment options, but a real estate purchase is the most popular one. The minimum real estate investment starts at 250,000 EUR for specialized projects and can go as high as 800,000 EUR for in-demand areas like Attica, Mykonos, Santorini, and 32 other popular islands.¹

For an easy and secure way of moving and spending your money abroad, try Wise. You can convert to 40+ currencies in just a tap with no exchange rate markups.

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Sources

1. Henley & Partners - Greece
2. Golden Visas - Greece
3. Get Golden Visa - Greece Golden Visa
4. Res-Greece - Expenses paid by the buyer

Sources checked 09.19.2024