Greece Golden Visa Program

The residence permit application process takes less than 6 months. First, a temporary residence permit (blue paper) is issued, followed by a permanent residence card. You can enter and exit the country as many times as you wish with your temporary residence card.

As of April 3, 2024, the minimum real estate value for the Golden Visa has been increased from €250,000.00 to €800,000.00 for the Attica peninsula (including Piraeus), which includes Athens city center and some islands and has a population of approximately 4 million people. Additionally, the entire Central Macedonia region, which includes Thessaloniki and its surroundings and is one of the 13 administrative regions, has also been increased to a limit of €800,000.00.

Greece Golden Visa Program In addition, the tax has been increased to €800,000.00 without exception for Mykonos and Santorini islands, as well as all islands with a population exceeding 3,100 people, as included in previous amendments to the law.

Unfortunately, areas outside the defined and delimited zones in this law are sparsely populated and rural regions. In these areas, the minimum tax has been increased from €250,000.00 to €400,000.00, and a minimum building height requirement of 120 square meters has been added.

The new law also includes some exceptions. These exceptions should be seen as regulations aimed at preventing a housing crisis. Following the economic crisis in Greece and the subsequent Covid pandemic, production in Greece shifted more towards the service sector, and many industrial buildings, warehouses, silos, offices, and shops located near or within city centers becameidle. The new regulation sets the Golden Visa threshold at €250,000.00 for buildings that have been idle for the past 5 years and are converted into residential properties. Similarly, the aim is to encourage new owners of abandoned historical buildings inand around Athens to be repurposed and converted into residential properties by setting the Golden Visa threshold lower (€250,000). The property must not be sold for 5 years. You can live in Greece for 5 years while holding the property. However, there isa 7-year residency requirement for Greek citizenship/passport.

There is no requirement to reside in Greece for any period of time during the year to obtain a residence permit. The applicant's spouse, children under 24, and parents/in-law can also benefit from the residence permit with the same investment.

If the application is related to real estate purchase, additional fees amount to approximately 10%-11%of the property value. No language proficiency is required for a residence permit (free movement), however, a Greek language proficiency test is required to become a Greek citizen. Once a Greek citizen is obtained, the property can be sold, and the passport rights remain valid.

A residence permit does not grant permission to establish a business or work in Greece.