Residency By Investment
Greece Golden Visa - Residency by Investment
Professional Advisory by NTL International
Programme Highlights
- Minimum Investment: €250,000 for commercial-to-residential conversions or heritage restoration; €400,000 in most regions; €800,000 in prime areas
- No Residency Requirement: No minimum stay obligation to maintain or renew residence permit
- Schengen Mobility: Visa-free travel throughout the Schengen Area (26 European countries)
- Family Inclusion: Spouse, dependent children, and dependent parents eligible
- 5-Year Renewable Permit: Indefinite renewal as long as investment is maintained
- Path to Citizenship: Eligible for naturalization after 7 years continuous residence (183 days per year)
- Programme Since: Established in 2013 under Law 4251/2014, updated by Law 5100/2024
About Greece
Greece, officially the Hellenic Republic, is a country in Southeast Europe located at the crossroads of Europe, Asia, and Africa. A member of the European Union since 1981, Greece is also part of the Schengen Area, the Eurozone, the United Nations, NATO, and numerous international organizations.
Location
Southeast Europe, southern Balkan Peninsula
Area
131,957 square kilometers (50,949 square miles)
Population
Approximately 10.7 million
Capital
Athens
Official Language
Greek
Currency
Euro (EUR)
Government
Parliamentary republic
Economy
Tourism, shipping, services, manufacturing
Legal Framework and Competent Authority
Governing Legislation
Law 4251/2014 - Immigration and Social Integration Code
Enacted on April 1, 2014, this law established the legal foundation for the Greece Golden Visa program under Article 16 and Article 20B. The law provides the statutory framework for granting residence permits to third-country nationals (non-EU/EEA citizens) who make qualifying investments in Greece.
Law 5038/2023 - Migration Code
This law updated and consolidated Greek immigration legislation, replacing Article 16 of Law 4251/2014 with Article 100. It maintained the core Golden Visa framework while introducing modernized procedures.
Law 5100/2024 - Latest Major Update (Effective April 5, 2024)
Article 64 of Law 5100/2024 replaced Article 100 of Law 5038/2023, introducing the current three-tier investment threshold system, minimum property size requirements, and restrictions on short-term rentals. This law represents the most significant update to the programme since its inception.
Ministerial Decision 214926/2025 (Published November 11, 2025)
This ministerial decision provides detailed procedural clarifications, standardized documentation requirements, and certification processes for each investment category, particularly for commercial-to-residential conversions and listed heritage buildings.
Competent Authority
Ministry of Migration and Asylum
The Ministry of Migration and Asylum serves as the government authority responsible for receiving, processing, and adjudicating Golden Visa applications. Applications are submitted through authorized legal representatives to the Decentralized Administration offices or directly to the Ministry.
Programme History
Launched in July 2013, the Greece Golden Visa program has issued thousands of residence permits to investors primarily from China, Turkey, Russia, the United States, and the United Kingdom. The programme has contributed over €1 billion to the Greek economy and continues to be one of Europe's most competitive residency-by-investment programmes.
Investment Options and Requirements
The Greece Golden Visa program offers multiple qualifying investment routes. As of September 1, 2024, the programme operates under a three-tier system for real estate investments, plus alternative investment options.
Alternative Investment Routes (Non-Real Estate)
In addition to real estate, Law 4251/2014 Article 16 provides for residence permits through the following investment types:
Government Fees and Additional Costs
In addition to the investment amount, applicants must pay government processing fees and related costs:
| Fee Type | Amount | Notes |
|---|---|---|
| Application Fee (Main Applicant) | €2,000 | Per Law 4251/2014 Article 132 and Law 4546/2018 Article 38 |
| Application Fee (Family Member) | €150 | Per dependent family member |
| Residence Permit Card Printing | €16 | Per person |
| Health Insurance | Varies | Mandatory for all applicants; must cover all risks for Greek citizens |
| Real Estate Transfer Tax | 3.09% | On property purchase price (real estate investments) |
Legal representation, administration, translation, attestation, and notary fees are not included in the above costs and vary based on service provider and application complexity.
Eligibility Requirements
Main Applicant Criteria
| Requirement | Criteria |
|---|---|
| Nationality | Non-EU, non-EEA, non-Swiss citizen (third-country national) |
| Age | Minimum 18 years old |
| Criminal Record | No serious criminal convictions; clean criminal record required |
| Health Insurance | Valid health insurance covering all risks in Greece (not travel insurance) |
| Source of Funds | Legal and verifiable source of investment funds |
| Financial Capacity | Sufficient lawful funds to complete qualifying investment |
| Residence Requirement | None; no minimum stay required to obtain or maintain permit |
Eligible Family Members
The following family members may be included in the main applicant's Golden Visa application:
Legally married spouse or registered civil partner (Greece recognizes same-sex marriage as of February 2024)
Biological or legally adopted children under 21 years of age who are financially dependent on the main applicant
Parents or grandparents of the main applicant or spouse who are financially dependent (age and dependency documentation required)
Family members included in the application receive residence permits with the same 5-year validity and renewal terms as the main applicant. Each family member must have valid health insurance and pay the €150 application fee plus €16 residence card fee.
Health Insurance Requirements
All Golden Visa applicants and family members must maintain valid health insurance throughout the residence permit period:
- Coverage Type: Must cover all health and safety risks equivalent to coverage provided to Greek citizens
- Insurance Provider: Private insurance body authorized in Greece or recognized in the EU
- Policy Duration: Must remain valid for entire residence permit period
- Travel Insurance Not Accepted: Must be long-term residency health insurance, not short-term travel insurance
Programme Benefits
Residence Permit Advantages
No minimum stay obligation in Greece to obtain or renew residence permit.
Initial residence permit valid for 5 years, renewable indefinitely as long as investment is maintained.
Visa-free travel throughout the Schengen Area (26 European countries) for stays up to 90 days within 180 days.
Spouse, dependent children, and dependent parents eligible for residence permits.
Legal residence in an EU member state with access to Greek social services and healthcare.
Eligible for Greek citizenship after 7 years continuous residence (183 days per year).
Real estate investments may appreciate in value; rental income permitted for long-term leases.
Holding Golden Visa does not automatically create Greek tax residency (tax residency requires 183+ days per year in Greece).
Schengen Area Access
Greece Golden Visa holders enjoy visa-free travel throughout the Schengen Area for stays up to 90 days within any 180-day period. The Schengen Area comprises 26 European countries with abolished internal borders.
Schengen Area Countries:
- Austria, Belgium, Croatia, Czech Republic, Denmark
- Estonia, Finland, France, Germany, Greece
- Hungary, Iceland, Italy, Latvia, Liechtenstein
- Lithuania, Luxembourg, Malta, Netherlands, Norway
- Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland
Education and Healthcare
Access to Education: Golden Visa holders and their families have access to Greek public education. Students who graduate from Greek high schools have the same access to higher education as Greek nationals, including equivalent tuition fee structures.
Healthcare Access: Holders may access the Greek healthcare system. Private health insurance is mandatory and must cover all risks equivalent to coverage provided to Greek citizens.
Business and Investment Opportunities
Right to Establish Business: Golden Visa holders may establish and operate businesses in Greece. While the residence permit itself does not grant employment rights, holders can engage in business ownership and entrepreneurial activities.
Real Estate Income: Property owners may generate rental income from long-term leases (registered under Greek tenancy law). Short-term rentals (Airbnb-style) are prohibited for properties acquired after April 5, 2024.
Application Process
Applications must be submitted through authorized legal representatives. A power of attorney is required, allowing the lawyer to act on behalf of the applicant in Greece. This enables applicants to complete most of the process remotely, with only one visit to Greece required for biometric data submission.
Process Timeline
Initial Consultation and Investment Route Selection
Comprehensive eligibility assessment, investment route analysis, family composition review, and cost estimation with NTL's authorized advisors.
Document Preparation and Collection
Gather identity documents, criminal record certificates, source of funds documentation, health insurance policies, and supporting documents for all applicants and family members.
Greek Tax Number (AFM) Application
Obtain Greek tax identification number (AFM) required for property transactions and investment activities. Typically issued within 3 to 7 working days through authorized representative.
Greek Bank Account Opening
Open bank account in Greece to facilitate investment transactions, property purchase, or bond/deposit investments.
Investment Execution
Complete chosen investment route: property purchase and deed registration, bond purchase through credit institution, bank deposit placement, fund investment, or corporate securities acquisition.
Power of Attorney Execution
Sign power of attorney authorizing legal representative to submit application and act on applicant's behalf before Greek authorities. May be executed at Greek consulate or in Greece with valid entry visa.
Application Form Completion and Submission
Legal representative prepares complete application package including government forms, investment documentation, identity documents, health insurance, and supporting materials. Application submitted to Ministry of Migration and Asylum or Decentralized Administration office.
Blue Card Issuance
Upon application submission and payment of fees, applicant receives temporary certificate (Blue Card) confirming application filing. This document allows entry to Greece for biometric appointment.
Biometric Data Appointment in Greece
Travel to Greece to provide biometric data (fingerprints and photograph) at designated immigration office. This is typically the only required visit to Greece during the application process.
Application Review and Processing
Ministry of Migration and Asylum reviews complete application, verifies investment documentation, conducts background checks, and processes residence permit application.
Residence Permit Issuance
Upon approval, electronic residence permit card issued, valid for 5 years. Permit allows legal residence in Greece and Schengen Area travel.
Applications typically processed within 3 to 4 months from complete submission. Actual timelines vary based on application volume, complexity, completeness of documentation, and current processing capacity at the Ministry of Migration and Asylum. No official processing timeline is guaranteed.
Streamlined Application Procedures (Law 5100/2024 Updates)
Recent legislative updates have streamlined certain application procedures:
- Application Before Land Registry Completion: Applicants may submit Golden Visa applications immediately after property deed signing, even before Land Registry registration is complete, by providing proof that registration has been requested
- Standardized Engineer Reports: For commercial-to-residential conversions, standardized Engineer's Technical Reports now provide streamlined certification of conversion completion
- Same-Sex Marriage Recognition: Greece's recognition of same-sex marriage since February 2024 allows same-sex couples to apply as spouses under the family inclusion provisions
Required Documents
Identity and Civil Status Documents
- Valid passport with minimum 6 months validity (certified copies of all pages)
- Birth certificate for main applicant and all family members
- Marriage certificate or civil partnership registration (if applicable)
- Divorce decree or death certificate of previous spouse (if applicable)
- Birth certificates for dependent children
- Proof of dependency for adult children, parents, or grandparents
- Passport-size photographs (4 digital photos per person)
Criminal Record Certificates
- Police certificate or criminal record certificate from country of citizenship
- Police certificate from country of current residence (if different from citizenship)
- Certificates must be recent (typically within 6 months of application)
- All certificates must be apostilled or legalized
- Official translations to Greek required for non-Greek documents
Health Insurance Documentation
- Valid health insurance policy from provider authorized in Greece or EU
- Coverage must include all health and safety risks equivalent to Greek citizen coverage
- Policy must be valid for entire residence permit period
- Insurance certificate or policy document with coverage details
Financial and Source of Funds Documentation
- Bank statements (typically 6 months) demonstrating source of investment funds
- Source of wealth documentation (employment records, business ownership, inheritance documentation, asset sale records)
- Bank reference letters
- Professional reference letters
- Proof of net worth and financial capacity
- Tax returns or tax clearance certificates (where applicable)
- Business registration documents (if business owner)
Investment Documentation
For Real Estate Investments:
- Notarial deed (purchase and sale agreement)
- Property title documents and Land Registry certificate
- Proof of payment (bank transfer confirmations showing full payment)
- Property valuation or appraisal
- Transfer tax payment receipt (3.09% of purchase price)
- For €250k conversions: Engineer's Technical Report confirming conversion completion after April 5, 2024
- For heritage buildings: Government Gazette number confirming listed status
- Declaration confirming no short-term rental use (for properties acquired after April 5, 2024)
For Government Bonds:
- Bond purchase confirmation from Greek credit institution
- Proof of minimum €500,000 acquisition value
- Documentation showing minimum 3-year remaining maturity
- Depository agreement with Greek bank
For Bank Deposits:
- Bank deposit confirmation showing €500,000 deposit
- Fixed-term deposit agreement (minimum 1 year)
- Automatic renewal arrangement documentation
For Fund Investments:
- Fund investment confirmation (€350,000 minimum)
- Fund prospectus and regulatory approval documentation
- Proof of fund's exclusive investment in Greek assets
- License from Hellenic Capital Market Commission or EU equivalent
Additional Application Materials
- Completed government application forms (provided by Ministry of Migration and Asylum)
- Proof of legal residence address
- Power of attorney for legal representative (notarized)
- Entry visa or documentation of legal entry to Greece (if applicable)
Document Authentication: All documents issued outside Greece must be apostilled or legalized by the competent authority of the issuing country. Documents in languages other than Greek must be officially translated by certified translators and the translations must also be apostilled.
Post-Approval Obligations and Considerations
Residence Permit Renewal
The Greece Golden Visa residence permit is initially valid for 5 years and may be renewed indefinitely under the following conditions:
- Investment Maintenance: The qualifying investment must be maintained in full ownership and possession throughout the renewal period
- Property Retention: For real estate investments, the property must remain owned; selling the property terminates residence rights unless immediately replaced with another qualifying investment
- Health Insurance: Valid health insurance must be maintained and renewed
- Fee Payment: Renewal application fee and residence card printing fee must be paid
- No Minimum Stay: No minimum presence in Greece required for renewal
Renewal applications should be submitted before the current permit expires. Required documents include proof of continued investment ownership (recent Land Registry certificate, bond/deposit confirmation), valid health insurance, passport copies, and payment of renewal fees.
Investment Holding Period and Restrictions
Real Estate Investments:
- Ownership Requirement: Property must remain in full ownership and possession throughout residence permit validity
- Short-Term Rental Ban: Properties acquired after April 5, 2024 cannot be used for short-term rentals (Airbnb, vacation rentals) under Law 5100/2024
- Long-Term Rental Permitted: Long-term residential leases permitted under Greek tenancy law with proper registration and income declaration
- Subletting Prohibition: Properties cannot be sublet
- Business Use Restriction: For €250k conversion properties, property cannot serve as business headquarters or branch
- Property Sale: Selling the property terminates Golden Visa residence rights unless immediately replaced with another qualifying investment of equal or higher value
Alternative Investments:
- Bonds and Deposits: Must be maintained until maturity or permit expiration, whichever comes first
- Fund Investments: Fund shares must remain owned and invested in qualifying Greek assets
- Corporate Securities: Shares or bonds must remain owned throughout permit period
Taxation and Tax Residency
Residence Permit vs. Tax Residency: Holding a Greece Golden Visa residence permit does not automatically create Greek tax residency. Tax residency is determined by physical presence (183 days or more per year in Greece) and other factors under Greek tax law.
Non-Resident Tax Treatment: Golden Visa holders who do not meet tax residency criteria are not subject to Greek taxation on worldwide income. Only income sourced in Greece (e.g., rental income from Greek property) is taxable.
Property Taxation:
- Transfer Tax: 3.09% paid at property acquisition
- Annual Property Tax (ENFIA): Annual tax based on property value, location, and characteristics
- Rental Income Tax: If property generates rental income, income tax applies under Greek tax law
Professional Tax Advice Required: Tax outcomes are fact-specific and depend on individual circumstances, residency patterns, and applicable double taxation treaties. Investors should consult licensed tax advisors in their country of citizenship and in Greece.
Path to Greek Citizenship
Greece Golden Visa holders may apply for Greek citizenship through naturalization after meeting the following requirements:
- Continuous Residence: 7 years of legal continuous residence in Greece
- Physical Presence: Minimum 183 days per year physically present in Greece for each of the 7 years
- Integration Requirements: Demonstrated integration into Greek society (financial and social ties)
- Greek Language Proficiency: Pass Greek language examination
- Clean Criminal Record: No serious criminal convictions
- Application Process: Naturalization application pursuant to Greek Nationality Code (Law 3284/2004)
The Greece Golden Visa itself does not grant a direct path to citizenship without meeting residence and integration requirements. The 5-year renewable residence permit allows investors to legally reside in Greece, but naturalization requires actual physical presence and integration over 7 years.
Programme Change Risk
The Greece Golden Visa programme operates under Greek immigration law, which is subject to legislative amendment. Investment thresholds, eligible investment categories, fees, procedures, and programme terms may change by government decision.
Recent programme history demonstrates this risk: in 2024, Law 5100/2024 significantly increased real estate investment thresholds from a flat €250,000 to a three-tier system (€250,000/€400,000/€800,000) and introduced new restrictions on short-term rentals and minimum property sizes.
Existing Golden Visa holders are generally protected from retroactive changes under transitional provisions, but new applicants and those seeking renewal after legislative changes must comply with current requirements.
NTL: Professional Advisory Services for Greece Golden Visa
NTL provides comprehensive professional advisory services for the Greece Golden Visa programme, supporting clients through each stage of the application process with established relationships with Greek legal professionals and financial institutions.
Our Advisory Services
Eligibility Screening and Programme Assessment
Comprehensive review of applicant eligibility, family composition, investment capacity, and programme suitability based on residency objectives.
Investment Route Analysis and Selection
Detailed comparison of real estate tiers, alternative investment options, and strategic analysis of investment holding periods, rental income potential, and capital appreciation prospects.
Source of Funds Documentation Preparation
Guidance on preparing comprehensive source of wealth and source of funds documentation to satisfy Greek immigration and financial compliance requirements.
Document Collection and Verification
Complete document gathering, authentication, apostille coordination, certified translation arrangement, and verification of completeness.
Greek Legal Representative Coordination
Connection with licensed Greek lawyers authorized to represent applicants before the Ministry of Migration and Asylum and other competent authorities.
AFM and Bank Account Setup Support
Coordination of Greek tax identification number (AFM) application and Greek bank account opening through authorized representatives.
Investment Execution Coordination
Support for investment completion: property search and due diligence coordination (if real estate), notarial deed execution, fund transfer facilitation, or bond/deposit placement coordination.
Application Preparation and Submission
Complete application package preparation by authorized legal representative and submission to Ministry of Migration and Asylum or Decentralized Administration office.
Biometric Appointment Coordination
Scheduling of biometric data appointment in Greece and travel logistics support.
Application Monitoring and Status Updates
Ongoing liaison with legal representative and Greek authorities, response to information requests, and regular status updates throughout processing.
Residence Permit Collection and Renewal Support
Coordination of residence permit card collection and ongoing support for 5-year renewal applications.
Compliance and Due Diligence Standards
NTL operates in strict accordance with Greece Golden Visa programme requirements and international best practices:
Comprehensive client due diligence and source of funds review prior to engagement.
All services provided in accordance with Greek immigration law and Ministry of Migration and Asylum procedures.
Coordination with licensed Greek lawyers, notaries, and financial institutions authorized to provide services in Greece.
Adherence to international standards for residency and citizenship advisory services.
Articles and Resources About Greece Golden Visa
Request Your Greece Golden Visa Assessment
Contact NTL for a confidential consultation on Greece's Golden Visa programme. Our advisors will assess your eligibility, explain investment options, and outline the application process with coordination of licensed Greek legal professionals.
Frequently Asked Questions
The minimum investment is €250,000 for commercial-to-residential property conversions or heritage building restoration (regardless of location). Standard real estate investments require €400,000 in most regions or €800,000 in high-demand areas including Athens, Thessaloniki, Mykonos, and Santorini. Alternative investments range from €350,000 (funds) to €800,000 (corporate securities).
No. Greece Golden Visa has no minimum stay requirement. Holders may reside outside Greece and still renew their residence permit every 5 years as long as the investment is maintained. This makes it one of the most flexible EU residency programmes.
Yes. Eligible family members include spouse or civil partner, dependent children under 21 years of age, and dependent parents or grandparents of the main applicant or spouse. All family members receive 5-year residence permits with the same renewal terms.
Applications are typically processed within 3 to 4 months from complete submission. Actual timelines vary based on application volume, complexity, and current processing capacity at the Ministry of Migration and Asylum. No official processing timeline is guaranteed.
Typically, one visit to Greece is required to provide biometric data (fingerprints and photograph). The rest of the application process can be completed through an authorized legal representative with power of attorney. Some applicants also visit to open bank accounts or view properties.
Long-term residential rentals are permitted and must be registered under Greek tenancy law with income declared. However, short-term rentals (Airbnb, vacation rentals) are prohibited for properties acquired after April 5, 2024 under Law 5100/2024. Violating this restriction may result in permit revocation.
Greece Golden Visa holders may apply for citizenship through naturalization after 7 years of continuous legal residence with minimum 183 days per year physical presence in Greece. Additional requirements include Greek language proficiency, demonstrated integration, and clean criminal record. The residence permit alone does not grant citizenship without meeting these requirements.
Holding a Golden Visa does not automatically create Greek tax residency. Tax residency requires 183 days or more per year in Greece. Non-residents are only taxed on Greek-sourced income (such as property rental income). Tax outcomes are fact-specific and require professional tax advice based on individual circumstances and applicable double taxation treaties.
Law 5100/2024 (effective April 5, 2024 and September 1, 2024) introduced major changes: three-tier investment system (€250k/€400k/€800k based on location), 120 m² minimum property size for standard investments, prohibition on short-term rentals for properties acquired after April 5, 2024, and streamlined documentation procedures. The €250,000 option remains available for commercial-to-residential conversions and heritage building restoration.
Yes. Greece legally recognized same-sex marriage in February 2024. Same-sex married couples may apply for Greece Golden Visa with one spouse as main applicant and the other as eligible family member, receiving the same benefits as opposite-sex married couples.
The Greece Golden Visa programme operates under Greek immigration law, specifically Law 4251/2014 as amended by Law 5038/2023 and Law 5100/2024, all of which are subject to legislative amendment by the Hellenic Parliament. Programme requirements, investment thresholds, fees, procedures, and eligibility criteria may change by government decision.
Applications are adjudicated by the Ministry of Migration and Asylum of the Hellenic Republic. NTL provides professional advisory services to support compliant applications through coordination with licensed Greek legal professionals but does not guarantee approval, processing timelines, investment returns, or programme outcomes.
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