Financial & Legal Requirements for Greece Golden Visa Explained

The Greece Golden Visa program is one of the most attractive residency-by-investment schemes in Europe, offering investors and their families the right to live in Greece and enjoy visa-free travel within the Schengen Zone. Launched in 2013, the program has drawn thousands of applicants worldwide, from entrepreneurs seeking new opportunities to families aiming for long-term stability in Europe.

But before you apply, it’s essential to understand the financial and legal requirements for Greece Golden Visa. This guide explains everything you need to know about eligibility, investment options, documentation, tax obligations, and compliance.

What Is the Greece Golden Visa?

The Golden Visa in Greece is a residence permit granted to non-EU/EEA citizens who make qualifying investments in Greece. It offers a 5-year renewable residency, provided the investment is maintained. Holders are allowed to live in Greece, access healthcare and education, and travel freely across 29 Schengen countries.

Key benefits include:

• Residency for the whole family (including dependent children and parents).
  

• Visa-free travel across 27 Schengen countries.
  

• No minimum stay requirement to maintain residency.
  

• Option to apply for permanent residency and citizenship after 7 years (if physically resident in Greece).
  

• Opportunity to invest in one of Europe’s fastest-growing real estate markets.

Unlike some other EU residency programs, Greece does not require investors to live in the country permanently to retain their visa.

Latest Greece Golden Visa Requirements (2025 Updates)

Minimum Investment Amounts

As per Law 5100/2024, the requirements are now location-based:

• €800,000 (Zone A – Prime Areas):
   Athens (Attica), Thessaloniki, popular islands like Mykonos and Santorini, and all islands with populations above 3,100.
  

• €400,000 (Zone B – Other Areas):
   Applicable to properties in smaller towns, villages, and less densely populated areas of Greece.
  

• €250,000 (Special Cases):
  

• Conversion of commercial property into residential (change of use must be legally completed before application).
  

• Restoration of listed/heritage buildings (renovations must be completed and certified).
  

This tiered system means that while €250,000 opportunities still exist, they are niche and require strict legal compliance.

Restrictions on Property Use

• Short-term rentals (e.g., Airbnb, Vrbo) may not be allowed for some Golden Visa properties.
  

• Long-term rentals are generally permitted and can generate steady returns.

Financial Requirements for Greece Golden Visa

The cornerstone of the program is the investment requirement. Applicants must make one of the approved financial contributions:

1. Real Estate Investment

• Minimum Investment: €250,000 (raised to €500,000 in certain high-demand areas like Athens, Santorini, Mykonos, and Thessaloniki).
  

• The property can be residential or commercial.
  

• Applicants can purchase multiple properties, as long as the total value meets the threshold.
  

• Ownership can be individual or via a legal entity.
  

2. Long-Term Lease Agreements

• 10-year lease of hotel accommodations or furnished tourist residences.
  

• The contract must be registered with the Greek Land Registry.
  

3. Capital Investment in Greece

• At least €400,000 invested in a Greek company (except portfolio investment companies and real estate firms).
  

• Or €400,000 in Greek government bonds.
  

• Or €400,000 in a term deposit with a Greek bank.
  

4. Alternative Investment Funds (AIFs)

• Minimum €400,000 in shares or units of mutual funds, venture capital, or private equity funds based in Greece.
  

Important Note: The real estate option remains the most popular pathway due to its lower entry threshold and tangible benefits.

Legal Requirements for Greece Golden Visa

In addition to the financial investment, applicants must meet strict legal requirements to qualify.

1. Valid Passport and (if applicable) a Greek entry visa.
   

2. Clean Criminal Record from country of origin and residence.
   

3. Proof of Funds: Documentation showing the source of investment is legal.
   

4. Health Insurance: Covering medical care in Greece.
   

5. No EU/EEA Citizenship: Only non-EU nationals are eligible.
   

All documents must be apostilled and officially translated into Greek by certified translators.

Apart from the above requirements, applicants must also meet following legal eligibility criteria:

1. Eligibility Criteria

• Must be a non-EU/EEA/Swiss citizen.
  

• At least 18 years old.
  

• Must have a clean criminal record in both home country and Greece.
  

• Health insurance covering medical expenses in Greece.
  

2. Source of Funds

• Applicants must prove the legality of investment funds.
  

• Funds must come through bank transfers and comply with EU anti-money laundering (AML) regulations.
  

3. Property Ownership & Legal Checks

• The real estate purchase requires thorough due diligence.
  

• Title deeds, mortgage checks, and legal ownership must be verified.
  

• Investors should hire local lawyers and notaries to handle contracts and registration.
  

4. Residency Permit Application

• Apply to the Decentralized Administration office in Greece.
  

• Biometrics are required for the residence permit.
  

• Initial visa is valid for 5 years and renewable if the investment is retained.
  

Taxation and Financial Considerations

One of the advantages of the Greece Golden Visa requirements is its relatively low tax burden compared to other EU nations. However, investors must understand the tax implications:

• No Requirement to Become a Tax Resident: Unless you spend more than 183 days per year in Greece.
  

• Property Taxes: Annual ENFIA tax applies to real estate.
  

• Rental Income: Taxed progressively from 15% to 45%.
  

• Non-Dom Regime: Greece offers a special tax regime for foreign investors, allowing favorable taxation of global income.
  

Benefits of Meeting Golden Visa Greece Requirements

By fulfilling the Golden Visa Greece requirements, investors gain:

• Residency Rights: Live, work, and study in Greece.
  

• Schengen Mobility: Visa-free travel across 29 countries.
  

• Family Inclusion: Spouse, children under 21, and dependent parents included.
  

• No Minimum Stay Requirement: Residency maintained without mandatory physical presence.
  

• Pathway to Citizenship: Eligible for naturalization after 7 years of residence.
  

Step-by-Step Application Process

1. Hire a Greece Golden PR Lawyer & Consultant
   Ensure your property is eligible under the Golden Visa Greece requirements.
   

2. Obtain Greek Tax Number (AFM) & Bank Account
    Necessary for property purchase and tax compliance.
   

3. Select and Purchase Qualifying Property
    Pay the full purchase price through a Greek bank account.
   

4. Register Ownership with the Land Registry
    Complete legal formalities before filing your application.
   

5. Submit Golden Visa Application
    File documents, proof of investment, and pay fees.
   

6. Provide Biometrics
    Attend in person for fingerprinting and photos.
   

7. Receive Residence Card
   Processing typically takes 1.5–4 months, depending on the region.
   

Renewal & Citizenship Path

• Golden Visa Validity: 5 years.
  

• Renewal: Every 5 years, provided you maintain ownership of the qualifying investment.
  

• Citizenship: Possible after 7 years of residence, but requires:
  

• Physical stay in Greece.
  

• Knowledge of Greek language and culture.
  

• Integration tests.

Common Challenges and How to Overcome Them

• Property Market Complexity: Engage a local real estate agent and lawyer to avoid pitfalls.
  

• Documentation Delays: Ensure all documents (birth certificates, marriage certificates) are apostilled and translated into Greek.
  

• Tax Confusion: Consult a tax advisor for clarity on global income rules.
  

• Program Updates: Monitor government announcements, as investment thresholds and requirements are subject to change.
  

FAQs About Greece Golden Visa Requirements

1. Can multiple investors buy a property together?
Yes, joint ownership is possible if each applicant invests at least €250,000 (€500,000 in certain regions).

2. How long does the process take?
Typically 2–6 months, depending on property purchase and documentation.

3. Can I sell the property?
Yes, but you must maintain an eligible investment to renew your visa.

4. Do I need to live in Greece to keep the visa?
No. Residence is not required to maintain the permit.

5. Does the Golden Visa lead to EU citizenship?
Yes, after 7 years of residence, subject to integration and language requirements.

Final Thoughts

The Greece Golden Visa requirements are among the most flexible and affordable in Europe, making it a top choice for global investors. Whether through real estate, capital investment, or funds, the program offers a strategic path to European residency and eventual citizenship.

By carefully planning your investment, ensuring compliance with financial and legal requirements, and seeking professional guidance, you can secure a smooth and successful application.