SERVICES
GOLDEN VISA
Unlocking EU Access Through Greece’s Golden Visa
The Greece Golden Visa programme offers third-country nationals (non-EU/EFTA citizens) an exceptional opportunity to obtain a residence permit through property investment, granting seamless access to the Schengen Area. Introduced in 2013 and amended by Law 5100/2024, this residence-by-investment scheme encourages foreign investment in Greece while providing investors and their families with benefits such as visa-free travel and long-term residency. TaxElements provides expert guidance to help Golden Visa applicants optimize their investment, ensuring compliance and financial efficiency throughout the process.
By acquiring property in Greece, successful applicants receive a 5-year renewable residence permit, enabling visa-free travel across Schengen countries for up to 90 days per 6-month period. Combining the financial potential of Greek real estate with the allure of a Mediterranean lifestyle, the program is one of the most accessible routes to European residency. Eligibility requires meeting specific investment thresholds based on the property’s location.
As of 1 September 2024, the minimum investment is €800,000 for properties in high-demand areas such as Athens, Mykonos, Santorini, and islands with populations over 3,100. For other regions, the threshold is €400,000. Alternatively, a €250,000 investment suffices for properties involving a change of use, such as converting commercial buildings into residences, or restoring listed buildings, regardless of location. Investments must involve a single property, with built properties requiring a minimum size of 120 square meters, though no size requirement applies to change-of-use or listed buildings.
Investors may lease their property for long-term rentals but are prohibited from short-term rentals or using it as business premises. The purchase of an undivided co-ownership share in a property is permitted, with a minimum value of €800,000 or €400,000, depending on the region. Beyond property acquisitions, third-country nationals can secure a residence permit through a long-term lease of a complex tourist accommodation or a time-sharing lease for a tourist accommodation, with a minimum value of €800,000 in Attica or €400,000 in other regions.
Benefits and Application Process
The Greece Golden Visa programme is distinguished by its flexibility and wide-ranging advantages, making it a compelling choice for investors. TaxElements streamlines the process with expert services ensuring compliance with Greek authorities. Investors must complete their property purchase or investment agreement, submit biometric data, and provide documentation, including proof of investment and health insurance.
The residence permit is typically issued within months, with renewals requiring confirmation of continued property ownership. The property cannot be resold to another third-country national for Golden Visa purposes, but it remains a valuable asset for personal use or long-term rental income. Key benefits of the program include:
- Visa-free travel within Europe’s Schengen Area
- No requirement to reside in Greece
- Unlimited expiry date of residence permit
- Opportunity to rent out the investment property
- Residence applicable to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse)
- Eligibility to apply for citizenship after 7 years of residence
- Ability to hold shares and receive income from the dividends of a company registered in Greece (but not to be employed in Greece)
With its blend of investment potential, Schengen access, and family-inclusive benefits, the Greece Golden Visa program provides third-country nationals with a secure and rewarding pathway to European residency.