Greek Golden Visa – Updated Complete Guide (2025 Updated)

The Greek Golden Visa program is a popular residency-by-investment opportunity for non-EU nationals, offering European residency through property investment in Greece.

As of the latest updates for 2025, the minimum investment threshold has been raised to €800,000 for high-demand areas, such as central Athens, Thessaloniki, and several Greek islands.

In regions outside these designated areas, the minimum investment threshold stands at €400,000, making it possible to choose from a range of investment options depending on location.

This new threshold underscores Greece’s focus on attracting high-value investors, especially in prime real estate markets, while still providing accessible options in other regions across the country.

What is the Greek Golden Visa?

The Greek Golden Visa is a residency-by-investment program allowing non-EU nationals and their families to acquire residency in Greece.

First launched in 2013, the program enables foreign investors to gain legal residence by making a qualifying investment in Greek real estate.

Known for its straightforward requirements and affordable investment options relative to other EU residency programs, the Greek Golden Visa has grown in popularity among investors seeking access to the European Union and its Schengen Area.

The recent amendments in 2025 introduced new thresholds and added regional distinctions, making Greece’s Golden Visa competitive yet selective, particularly favoring investments in high-value regions like Athens, Mykonos, and Thessaloniki.

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Eligibility Criteria for the Greek Golden Visa Program

To qualify for the Greek Golden Visa, applicants must fulfill specific eligibility conditions. These include:

• Legal Age: Applicants must be over 18 years old.
  
  
• Non-EU Nationality: The program targets third-country nationals (non-EU citizens).
  
  
• Clean Criminal Record: Applicants must provide a clean criminal record.
  
  
• Health Insurance: Comprehensive health insurance coverage, either in Greece or internationally, is mandatory for both the primary applicant and any dependents.
  
  
• Financial Means: Apart from the investment amount, applicants must demonstrate the ability to support themselves and any dependents.

In addition to the primary applicant, the visa extends to the spouse, children under 21, and the parents of both the investor and their spouse.

The Golden Visa does not impose a minimum stay requirement, making it ideal for those who wish to reside elsewhere while maintaining a residency option in the EU.

2025 Updated Requirements to Get a Greek Golden Visa

Following the 2024 legislation updates, the required minimum investment threshold has increased, establishing two distinct tiers:

1. High-Value Areas (€800,000 Minimum Investment): For properties located in prime real estate zones, such as Attica, Thessaloniki, Mykonos, Santorini, and selected islands with a population exceeding 3,100, the minimum investment is €800,000.
   
   The investment must be made in a single property and, if already constructed, the property should cover at least 120 square meters.
   
   
2. Standard Areas (€400,000 Minimum Investment): For properties in all other regions, the minimum investment threshold is set at €400,000. This change significantly impacts investors, as these areas offer more affordable yet attractive investment opportunities, particularly in suburban and rural parts of Greece.
   
   
3. Special Cases (€250,000 Minimum Investment):
   • Commercial to Residential Conversion: If an investor converts a commercial property into a residential property, the minimum investment remains €250,000, regardless of its location.
     
     
   • Restoration of Historic Buildings: Properties designated as historic or requiring restoration qualify under the €250,000 threshold. Restoration or reconstruction is mandatory, as it affects the residence permit’s renewal eligibility.

These updated thresholds underscore Greece’s commitment to attracting high-net-worth investors while promoting property development in less populated areas.

Investment Options to Qualify for Greek Golden Visa

There are various pathways to qualify for the Greek Golden Visa, including real estate investment and long-term leases. Here are the primary investment types:

• Real Estate Purchase: Investors can buy residential, commercial, or land properties, meeting the regional threshold requirements (€800,000 or €400,000).
  
  
• Hotel or Tourist Accommodation Lease: Long-term leases in tourist accommodations or hotels also qualify. The minimum lease agreement duration is five years.
  
  
• Commercial to Residential Conversion: As noted, investments in commercial properties that are converted to residential use qualify under the lower €250,000 threshold.
  
  
• Historic Property Restoration: For properties designated as historic, investments remain set at €250,000, with a commitment to complete necessary restorations.

Each investment must be verified by the land registry and must have clear ownership records.

Step-by-Step Process to Get a Greek Golden Visa

Acquiring a Greek Golden Visa requires careful planning and adherence to several formal steps. Here’s a comprehensive breakdown of the process, from initial preparation to approval:

1. Choose the Investment Pathway

Before visiting Greece, conducting thorough research on investment options is essential. Investors should analyze different regions to understand the property market trends, pricing variations, and potential for property appreciation or rental yields.

Consulting a real estate advisor can provide insight into regional real estate dynamics, especially considering the differences between high-demand urban centers like Athens or Thessaloniki versus lower-cost rural regions.

Utilize platforms, like The Luxury Playbook’s Market Insights Column, to compare property yields, cost of living, and market stability in different Greek regions.

This knowledge helps investors make informed decisions on where to buy or invest to maximize both personal preference and investment potential.

2. Visit Greece to Finalize Investment Decisions

It’s generally recommended that applicants visit Greece in person to review properties or investment opportunities and engage with a local attorney.

This visit allows investors to dicover the details of properties and neighborhoods, meet with real estate agents, and gain a clearer understanding of legal regulations.

This step is critical, as it provides an opportunity to verify the quality and status of properties.

During these visits, investors can negotiate preliminary terms, such as property price, inclusions, and payment schedules.

3. Hire a Legal Representative

Once initial research is complete, the next step is to establish contact with trusted local advisors, including real estate agents, attorneys, and financial consultants.

Greek Golden Visa applications are streamlined when handled by professionals familiar with the program’s legalities and market conditions.

A local legal representative can manage various processes, such as obtaining a Tax Identification Number (TIN) and ensuring all transactions comply with Greek regulations.

Look for professionals registered with the Athens Bar Association or Chambers of Commerce in Greece.

This ensures you’re working with a vetted legal expert who understands the residency-by-investment landscape and can represent your interests.

4. Open a Greek Bank Account

For investors, a Greek bank account is essential for managing financial transactions related to property investments, such as property payments, tax filings, and potential income from rental properties.

While the process may seem complex, your legal representative can offer valuable assistance by liaising with banks, explaining requirements, and guiding you through document preparation.

To open a Greek bank account, investors are typically required to provide specific documentation, which can include:

• Investment Agreements: Any formal agreements related to the property or investment may be requested by the bank to verify the nature of transactions.
  
  
• Identification: A valid passport or national ID card is generally required to verify identity.
  
  
• Proof of Address: Recent utility bills, lease agreements, or other documents demonstrating residency or permanent address.
  
  
• Proof of Funds: Bank statements or other financial documents to show the source of funds for investment purposes.
  
  
• Tax Identification Numbers: Foreign investors often need a Greek Tax Identification Number (AFM), which your legal representative can help obtain.
  
  

5. Sign a Promissory Purchase Agreement

In high-demand markets or for properties still under construction, a Promissory Purchase Agreement (PPA) is commonly used to secure an initial commitment to purchase before the full property sale contract is signed.

This agreement acts as a formal declaration of intent between the buyer and seller, reducing the risk of the property being sold to another buyer in the interim.

The PPA typically involves a deposit or advance payment (usually a percentage of the purchase price) that holds the property for the buyer until the final purchase contract is executed.

This amount varies depending on market conditions and the agreement between parties.

For investors, this agreement can secure favorable pricing or a strategic property location, especially in areas where demand is high or development is ongoing.

The PPA includes details such as:

• Property Description: Specifics on the property or unit being purchased, particularly important for properties under construction.
  
  
• Price and Payment Terms: Agreement on the purchase price and conditions under which the deposit is held.
  
  
• Completion Timeline: Expected date for the final contract signing or property handover, helping both parties plan accordingly.
  
  
• Contingencies: Clauses that may allow the buyer to withdraw under certain conditions (e.g., if the property is not completed on time).

It’s advisable to have a legal representative review the PPA thoroughly to ensure terms align with your interests and that the agreement is structured to protect your deposit and provide a clear path to property ownership

6. Complete Property Purchase or Lease Agreement

Finalizing the property purchase or lease agreement involves detailed documentation to ensure the transaction is legally sound and fully compliant with Greek property laws.

This step includes reviewing and signing all essential legal documents, often with the assistance of a lawyer, to confirm the terms of ownership or leasing and prevent future disputes.

For both purchase and lease agreements, the following are critical steps to ensure a smooth transaction:

1. Due Diligence: Before finalizing, ensure a thorough legal and technical inspection of the property. A legal representative typically reviews the title deed to verify ownership, check for any encumbrances (e.g., liens or mortgages), and confirm that the property complies with zoning laws and construction permits.
   
   For lease agreements, confirm that the landlord holds clear rights to rent the property.
   
   
2. Agreement Terms: Carefully outline the terms of the purchase or lease agreement, including the total purchase price, payment structure, and any conditions related to occupancy or property modifications.
   
   For high-value transactions, such as those over the €250,000 threshold in regions like Athens or Mykonos, it’s essential to document the minimum investment requirements to meet Greece’s Golden Visa criteria, if applicable.
   
   
3. Notarization: In Greece, property transactions are often notarized to make them legally binding. The notary public acts as an official witness, verifying both parties’ consent and ensuring the legal terms are accurately represented. This process is particularly critical for foreign investors, as it provides an added layer of protection in line with Greek law.
   
   
4. Registration with the Local Land Registry: After signing the final agreement, register the transaction with the local land registry (or cadastral office) to secure your legal ownership or lease rights.
   
   This step is mandatory in Greece, as it provides public recognition of your property rights and prevents future ownership disputes. For properties exceeding €250,000, registration is also crucial to demonstrate compliance with Greek regulations and, if applicable, secure eligibility for the Golden Visa.
   
   
5. Documentation of High-Value Properties: In designated high-demand areas such as Athens, Mykonos, and Santorini, investors must comply with Greece’s minimum investment thresholds, typically set at €250,000 or higher, depending on market conditions.
   
   Your legal representative can help document and verify that this minimum threshold is met, which is essential for regulatory compliance and visa eligibility.

With the completion of these steps, you will have full legal control over the property, providing you with secure ownership or lease rights, and allowing you to take advantage of Greece’s investment opportunities with peace of mind.

7. Submit Required Documentation for the Golden Visa Application

Once the investment is complete, prepare and submit the required documents, which generally include:

• Valid passport and recent photographs
• Proof of property purchase or lease agreement
• Confirmation of health insurance coverage
• Proof of Greek bank account for residency applicants
• Clean criminal record check from your home country
  
  

8. Apply for Greek Tax Identification Number (TIN)

A Greek Tax Identification Number (TIN), or “AFM” (Αριθμός Φορολογικού Μητρώου), is required for any foreign investor or non-resident looking to conduct business or invest in property in Greece.

This unique number is issued by the Greek Tax Office and is essential for completing any property transaction, fulfilling tax obligations, and maintaining compliance with Greek tax laws.

The process of obtaining a TIN typically involves the following steps:

1. Visit the Greek Tax Office: Investors must apply in person at a local tax office in Greece. Alternatively, a legal representative can obtain the TIN on behalf of the investor, making it easier for non-residents who may not be in Greece to initiate this process directly.
   
   
2. Required Documentation:
   
   • Identification: A valid passport or national ID is essential for identity verification. Foreign investors should bring a notarized copy of their passport, translated if required.
     
     
   • Proof of Address: This could be in the form of a recent utility bill, lease agreement, or bank statement, which confirms residency status.
     
     
   • Power of Attorney (if applicable): If a representative is handling the application, they’ll need a notarized power of attorney document to act on behalf of the investor.
     
     
3. Additional Requirements for Non-EU Citizens: In some cases, non-EU nationals may be required to present additional documents, such as an entry visa or residence permit, depending on the nature of their investment and residency status in Greece.
   
   
4. Purpose of the TIN: Once obtained, the TIN will be used for all financial and tax-related transactions in Greece, including paying property taxes, filing income returns on rental income, and any other fiscal obligations tied to property ownership. Without a TIN, investors cannot complete property purchases, open Greek bank accounts, or fulfill legal requirements related to their investment.
   
   
5. Registration with the Independent Authority for Public Revenue (IAPR): After issuance, the TIN is recorded with the IAPR, which handles tax administration in Greece. This registration links the investor to Greece’s tax system and enables them to manage tax obligations online through the IAPR’s digital services, if needed.

Applying for a Greek TIN is a fundamental step for investors, ensuring that all legal and financial operations related to the property are in order and compliant with Greek law.

9. Submit Biometrics and Attend Appointment

All applicants and dependents must attend a biometric appointment with Greek immigration authorities.

During this appointment, fingerprints and photographs are taken, and applicants will receive their residency cards within a few weeks if all requirements are satisfied.

10. Await Approval and Receive Residency Card

Following successful submission and verification of biometrics, applicants typically receive a provisional approval within a few weeks.

Once confirmed, you will be issued a Greek Golden Visa residency card valid for five years, renewable provided you maintain the investment.

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Benefits of Obtaining the Greek Golden Visa

The Greek Golden Visa offers several appealing benefits to investors and their families. These include:

• 1. Freedom to Travel Across the Schengen Area: Greek Golden Visa holders can travel freely within the 27 countries in the Schengen Area without the need for additional visas, allowing seamless mobility throughout most of Europe.
  
  
• 2. No Residency Requirement: Unlike other residency-by-investment programs, Greece does not mandate that Golden Visa holders reside within the country for a minimum period each year. This makes it ideal for individuals who prefer to live outside Greece while holding a European residency permit.
  
  
• 3. Access to Greek Healthcare and Education: Golden Visa holders gain access to Greece’s public healthcare and education systems, allowing families to benefit from quality services.
  
  
• 4. Potential for EU Citizenship: After seven years of residency, Golden Visa holders may qualify to apply for Greek citizenship. While not an automatic process, this provides a pathway to full EU citizenship, allowing for greater travel and work rights throughout Europe.
  
  
• 5. Inclusion of Family Members: The Greek Golden Visa extends to immediate family members, including spouses, children under 21, and parents of both the primary applicant and spouse, offering a comprehensive solution for family migration.
  
  
• 6. Capital Appreciation and Rental Income: For real estate investors, property in Greece often yields steady appreciation, especially in popular tourist regions. Investors can also earn income through short-term or long-term rentals, enhancing their returns.
  
  

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Statistics About the Greek Golden Visa

Since its inception, Greece’s Golden Visa program has seen significant interest from investors worldwide. Here are some recent statistics:

• Investor Nationalities: Major investors in Greek Golden Visas have been from countries like China, Russia, and Turkey, with increasing interest from American and European investors.
  
  
• Annual Applications: In recent years, the Greek government has reported an annual increase in Golden Visa applications, with 2024 seeing a rise in applications due to the updated thresholds and increased property values in major cities.
  
  
• Property Market Impact: The program has contributed significantly to the Greek real estate market, particularly in Athens and Thessaloniki, with property prices in these regions rising by approximately 10-15% annually.
  
  
• Approval Rates: Greece boasts a relatively high approval rate for Golden Visa applications, provided applicants meet the stringent investment and documentation requirements.
  
  

Alternative Types of Visa in Greece

While the Greek Golden Visa is popular for residency by investment, Greece also offers other visa types to meet the needs of diverse applicants. Here’s an overview of some alternatives:

1. National Visa for Employment or Self-Employment

• For non-EU nationals looking to work in Greece, an Employment Visa or Self-Employment Visa allows individuals to live in Greece for employment or business purposes. Typically, applicants need a Greek employer’s sponsorship or proof of their own business activity.
  
  
• This visa requires proof of financial means and documentation related to the job or business, as well as any relevant qualifications or experience.
  
  

2. Student Visa

• Student Visas are available for international students enrolled in Greek educational institutions, whether universities, colleges, or specialized schools. To apply, students need proof of enrollment, financial support, and sometimes language proficiency.
  
  
• This visa provides temporary residency in Greece for the duration of the study program and may allow limited part-time work under certain conditions.
  
  

3. Digital Nomad Visa

• For remote workers who want to live in Greece while working for a company outside the country, the Digital Nomad Visa offers a unique solution.
  
  Applicants need to show proof of employment, income, and remote working capability, allowing them to reside in Greece for extended periods without traditional employment in the country.
  
  
• This visa provides flexibility for freelancers, remote employees, and entrepreneurs who want a base in Europe without committing to full residency.
  
  

4. Family Reunification Visa

• Family members of non-EU residents with a valid Greek residency permit may apply for a Family Reunification Visa. This visa is designed to reunite family members such as spouses, minor children, and dependent relatives.
  
  
• Applicants need to demonstrate family ties through documentation, as well as proof of adequate financial support from the primary resident.
  
  

5. Retirement Visa

• Greece also offers a visa for retirees wishing to spend their retirement years in Greece. Applicants must prove they have sufficient financial resources or pension income to cover their expenses without requiring local employment.
  

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Comparing the Greek Golden Visa to Other European Programs

The Greek Golden Visa stands out among European residency-by-investment programs, offering distinct advantages and some unique limitations.

Here’s a comparison of how it stacks up against similar programs in Portugal, Spain, and Malta:

Investment Thresholds

• Greece: As of 2025, Greece’s program has a variable minimum investment starting at €400,000 for general areas and €800,000 for high-demand locations, making it accessible for those investing in less saturated markets.
  
  
• Portugal: Portugal’s Golden Visa has an investment threshold beginning at €280,000 in rural locations, with higher minimums in urban and coastal areas. This allows for a relatively low entry point compared to Greece’s high-demand areas.
  
  
• Spain: Spain’s minimum investment threshold is €500,000 for property purchases, making it generally more affordable than Greece’s top-tier investment requirements.
  
  
• Malta: Malta’s residency programs start at €150,000 but require additional government fees, which can raise the overall cost of entry.
  
  

Residency and Citizenship Pathways

• Greece: The Greek Golden Visa program allows for immediate residency, renewable every five years, with the potential for citizenship after seven years of continuous residency.
  
  
• Portugal: Portugal’s program requires a minimum stay of seven days per year for five years, after which applicants may qualify for permanent residency or citizenship.
  
  
• Spain: Spain requires holders of its Golden Visa to spend at least six months per year in the country to qualify for long-term residency or citizenship.
  
  
• Malta: Malta’s Golden Visa offers a fast-track route to citizenship but requires a considerable financial commitment, including government contributions and property purchases.
  
  

Mobility Within the Schengen Area

• Like other EU Golden Visas, Greece allows holders of its Golden Visa to travel freely within the Schengen Area for up to 90 days in any 180-day period.
  
  This feature is shared by Portugal, Spain, and Malta’s residency programs, making them all attractive options for those seeking European mobility.
  
  

Seeking Professional Guidance

The journey to acquire a Greek Golden Visa comes with complexity due to the range of investment choices and changing regulations. Securing professional immigration advice streamlines this process, ensuring you make well-informed decisions.

Firms like Get Golden Visa and Henley & Partners offer personalized consulting services. These services simplify the intricacies of obtaining the Golden Visa program.

Professional advisors play a crucial role in guiding you through the application process, which can take from three to five months. They help with legal diligence and evaluating investments.

Their access to lawyers and real estate experts guarantees efficient navigation through documentation and approval processes. Their strategic support ensures your investment complies with requirements and matches your financial and residency aspirations.

These experts also connect you with suitable investment opportunities, adhering to the program’s evolving threshold limits based on investment location. As the program changes, they offer current information and advice.

This enables you to make swift decisions, secure current investment rates, and obtain your Greek Golden Visa.

Seeking professional guidance not only simplifies the journey but also enhances your chances of a successful and smooth acquisition of Greek residency.