Golden Visa - Greek Residency

The Greek Golden Visa Law offers the lowest cost option for residency in Europe by granting a five-year residence permit in return for a real estate investment of a minimum value of 800,000€, which is the lowest investment level among all real estate residency visa schemes in Europe.

The Golden Visa Law - Overview

• Residency for 3-Generation families from day one

• The lowest minimum investment in EU is 800,000€ for 120m2 house

• Direct access to all Schengen Area from anywhere

• No minimum stays requirements

• Combination of more than one properties

• No restrictions regarding the choice of the properties

• Both commercial and residential properties can be rented

• No need to become tax resident

• Low annual property tax 0,2%

• Free movement: No border controls - no passport stamps

• Great investment opportunities in the local real estate market

• Investment placed in EURO (€) currency

The Golden Visa Law

The Greek Golden Visa Law offers the lowest cost option for residency in Europe by granting a five-year residence permit in return for a real estate investment of a minimum value of 800,000€, which is the lowest investment level among all real estate residency visa schemes in Europe. The investment may consist of more than one properties (residential or commercial) and there are no restrictions regarding the location, the age or the exploitation of the assets. The Golden Visa is automatically renewed every five years, provided that the ownership of the assets is maintained. The holders of the Golden Visa may apply for Greek Citizenship and a European Passport after seven years of lawful residency. Once applicants have acquired citizenship, they can dispose of their investment in Greece as no further visa renewals are required.

The application practically covers three generations (investor and spouse, parents of both the investor and his/her spouse and any children up to the age of 21). There is no minimum stay requirement for applicants to retain or renew the residence permits. Greece is a member of the EU Schengen Zone so the holders of the Greek Golden Visa enjoy the privilege of free movement within the Schengen Zone, without any requirement for further visa applications, ranking the Greek passport 7th in the world. The stay in those countries cannot exceed 90 days in each 6-month period and the RP holders have access to health or education services, just like any European citizen.

Questions - Answers

Who is considered a family member? Are unmarried partners entitled to a residence permit?

According to the law, family members of third country citizens entering the country include: a. Spouses, b. The direct descendants of the spouses, who are under the age of 21 (children), c. The direct ascendants of the investor or his/her spouse (parents and parents-in-law). Unmarried partners are not considered to be family members.

Can my relatives in the ascending line (namely my parents and my spouse’s parents) or my children who are over the age of 18 accompany me (in cases of real estate ownership in Greece) and fall under the family provision? What if my children turn 18 during the validity period of my residence permit?

Can I travel to other countries within the European Union or Schengen Area with the residence permit for investors (Golden Visa)? Are there any conditions related to this?

Can the residence permit be considered as a work permit? Can my spouse, the legal representative of my company, my children or myself work in Greece?

Can I buy commercial property or a combination of commercial and residential properties or land?

Are there any restrictions that apply to the real estate market? (e.g. location, size in square meters or other factors).

What is the arrangement regarding the access to education and health services? Can the children of the residence permit holder attend a Greek public school?

If someone holds a long-term Visa issued by another Schengen country, does this Visa need to be cancelled to obtain a Greek Visa?

Is it possible to rent the real estate property to third parties?

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