Golden Visa

Residency by Investment Programs

The Greece Golden Visa Program is considered one of the most affordable residence-by-investment programs to provide access to Europe. The program has undergone significant changes according to Law 5038/2023, Article 9/25.09.2024 and Law 5100/2024. These changes impact minimum investment requirements, allowable types of real estate property and their usage restrictions. Successful applicants and their families are able to benefit from visa-free access to Europe’s Schengen Area within months of applying.

Real estate options

Investing in real estate is the most popular choice. An investor can conduct a deal either as an individual or through an EU-based company whose controlling stake they own. Applicants have five options to choose from:

  • Buy property, residential or commercial
  • Purchase a land plot for construction or agriculture
  • Inherit a property or receive it as a gift
  • Rent a hotel or tourist residence for 10 years
  • Conclude a timeshare agreement for 10 years

The program’s Real Estate Investment Criteria options are:

    • For the regions of Attica prefecture (includes Athens), Central Macedonia (includes Thessaloniki), Mykonos, Santorini and islands with a population of 3.100+ the minimum value is set at 800,000 Euros. The island of Evia is also included at this level.
    • For the remaining regions in Greece, the minimum investment value is set at 400,000 Euros.
    • The investment concerns only ONE property per applicant.
    • If the property is already built or a permit has been issued, it is required to have at least 120 sq. m. of living spaces. Exception to this rule are land plots with no structures or properties without a building permit.
    • Restrictions introduced relate to short term rentals through digital platforms (ex. Air BNB)
    • Property cannot serve as the headquarters or subdivision of a business.
    • Investments in properties with Usage Change.
      • Allowed to invest 250,000 euros only for one property, if this is transformed to a residence prior to submission of a residence permit.
      • Same applies for:
        • Industrial buildings with NO industrial activity over the past 5 years.
        • Structures with Preservation Status or parts of these, with the obligation of full restoration to renew the residence permit

Other options

CAPITAL CONTRIBUTION

  1. A capital contribution with a minimum value of 400,000€ to a company that has its registered office or establishment in Greece (with the exception of portfolio investment companies and real estate investment companies) for the acquisition of shares in a share capital increase or bonds that are, at the time of issue, admitted for trading on regulated markets or multilateral trading mechanisms that operate in Greece
  2. A capital contribution with a minimum value of 400,000€ to a real estate investment company (Article 21 of Law 2778/1999) that will invest exclusively in Greece, for the acquisition of shares in a share capital increase
  3. A capital contribution with a minimum value of 400,000€ to a closed-end investment company (Article 5 of Law 2367/1995) for the acquisition of shares or to a closed-end mutual fund (Article 7 of Law 2992/2002) for the acquisition of shares, provided that the aforementioned alternative investment institutions have the intention to invest exclusively in companies that have headquarters or establishments in Greece

SHARES, BONDS, AND/OR GOVERNMENT BONDS

  1. Purchase of Greek government bonds with a minimum acquisition value of 400,000€ and residual maturity of at least three years at the time of purchase, via a credit institution established in Greece, which will also act as the custodian of these bonds
  2. Purchase of shares or corporate bonds with a minimum acquisition value of 800,000€, which are admitted for trading or are traded on regulated markets or multilateral trading mechanisms, operating in Greece
  3. Purchase of units with a minimum value of 400,000€ of a mutual fund incorporated in Greece or another country and with the intention to invest exclusively in shares, corporate bonds, and/or Greek government bonds that are admitted for trading or are traded on regulated markets or multilateral trading mechanisms, operating in Greece
  4. Purchase of units or shares with a minimum purchase value of 400,000€ of an alternative investment fund established in Greece or another country of the EU, which intends to exclusively invest in immovable property in Greece

CAPITAL TRANSFER

  1. Term deposit of a minimum value of 400,000€ to a domestic credit institution, for at least one year, with a standing order for renewal

Advantages of the Greece Golden Visa Program

  • Visa-free travel within Europe’s Schengen Area
  • No requirement to reside in Greece
  • Residence permits can be acquired within 60 days
  • Unlimited expiry date of residence permit
  • Opportunity to rent out the investment property
  • Residence applicable to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse)
  • Eligibility to apply for citizenship after seven years of residence
  • Ability to hold shares and receive income from the dividends of a company registered in Greece (but not be employed in Greece)

The process for a permanent residence by investment is rather straight forward however, experience tells us that each case is different and may have its own complexities. You can get a first view and learn more about the golden visa program by visiting the government official website

Peace-of-Mind Services: Your Trusted Investment Advisors in Greece

Our specialized team of investment experts are here to help. Contact us at poms@wsgodigital.com to schedule an appointment or complete the online contact form and we will get in touch to discuss your plans, based on your availability.

Real Estate Management and Investment in Greece