Greece Golden Visa: Investment Thresholds and Application Process

The Greece Golden Visa grants a family residence permit to non-EU citizens who invest above a set amount in real estate or capital assets in the country. As of this writing, the minimum real estate threshold ranges from 250,000 to 800,000 euros depending on the area; the approved permit is valid for five years and can be renewed as long as the investment is maintained. Below we walk through the current thresholds, eligible investment types, the full cost picture, and the application process step by step.

At Golden Visa Partners we have assessed residence programs independently of any single country for years. Our goal is not to sell you the fastest route, but to explain the program that genuinely fits your budget and goals, including every cost and detail.

What is the Greece Golden Visa?

The program is a European Union framework that came into force in 2013, granting residence permit in exchange for investment. It is not citizenship. The holder gains the right to live in Greece and travel freely within the Schengen area, but the permit does not by itself amount to a passport or EU citizenship.

One of the program's most attractive features is that, unlike most European golden visa programs, it does not require the holder to physically live in the country or spend a minimum number of days there. As long as you maintain your investment, you can renew your permit without ever residing in Greece. This rule is current as of the time of writing and should be confirmed with an advisor before you apply.

Current investment thresholds

For years the program was known for a single, low threshold of 250,000 euros. In recent years, however, changes have tiered the real estate threshold by area. The general framework as of this writing is as follows:

Investment type and area	Minimum amount (approximate)	Notes
Real estate in high-demand areas (Athens, Thessaloniki, Mykonos, Santorini and other densely populated islands)	800,000 euros	Single property, minimum 120 square meters
Real estate in other areas	400,000 euros	Single property, minimum 120 square meters
Restoration of historic/listed buildings or conversion of commercial property into residential use	250,000 euros	Subject to specific conditions
Capital/financial investment (deposits, bonds, funds, shares)	Starting from 500,000 euros	Varies by type

These amounts are calculated on the value of the property; purchase taxes, fees, and advisory costs are added on top. Thresholds and area definitions can be updated as policy changes, so confirm the current figure and which tier your chosen area falls into before making an offer on a property.

Eligible investment types

The most common route is buying residential or commercial overseas real estate above the threshold. Since recent regulations emphasize a single property and a minimum floor area, check eligibility before assuming you can combine several smaller properties to reach the threshold.

Beyond real estate, financial options such as term deposits in Greek banks, government bonds, investment funds, or capital contribution to a company are also part of the program. These options are usually subject to different, higher thresholds and carry different risk profiles in terms of return and liquidity. No investment type comes with a guaranteed return; each option should be evaluated on its own risk profile.

Total cost: what comes beyond the threshold

The investment threshold is only one part of the total budget. When planning the real cost, you need to account for the items added on top of the property price. The main items as of this writing are:

• Transfer tax: for resold properties, the property transfer tax is calculated on the purchase price and represents a significant line item in the budget.
• Notary, land registry and lawyer fees: separate fees apply for the title transfer, legal due diligence, and power-of-attorney procedures.
• Application and card fees: official fees and biometrics charges apply for the main applicant and family members.
• Annual property tax (ENFIA) and running costs: as long as you own the property, annual property tax and possible service charges, insurance, and maintenance costs apply.

Together, these items can add up to a notable percentage of the investment amount, depending on the property and area chosen. Because tax rates and fees are updated periodically, we recommend requesting a clear cost breakdown at the offer stage. You can use our cost calculator to set your budget correctly from the start.

Do not confuse it with tax residency

Obtaining the Golden Visa does not automatically make you a tax resident of Greece. Tax residency depends on separate criteria, such as the number of days you spend in the country and where the center of your life is.

If you make the investment without actually living in the country, your tax obligations are generally governed by your home country's rules. Still, if you earn rental income from Greece, that income may be taxable there. We recommend having a specialist review the relevant double-taxation treaties and your personal situation to avoid being taxed twice.

The application process step by step

The process broadly consists of the following steps. The total timeline varies depending on how quickly documents are prepared and appointment availability:

1. Eligibility and budget review: we assess your goals, family structure, and source of funds to determine the right threshold and area.
2. Tax number (AFM) and bank account: a Greek tax number is obtained and a local bank account is opened where required.
3. Power of attorney and property selection: power of attorney is usually granted to a lawyer; the property is selected and its legal status (title, debts, zoning) is reviewed.
4. Completing the investment: the title transfer takes place before a notary, and payment is made through the bank with documented source of funds.
5. Biometrics and application: the residence permit application is submitted, and an appointment is attended for fingerprints and photos; a temporary document (the blue paper) is issued in the meantime.
6. Delivery of the permit card: once review is complete, the five-year residence permit card is issued.

Source-of-funds documentation is a critical part of the process: you must document where the money used for the investment originated. Missing or unexplained funds can delay or lead to rejection of the application.

Who can apply, and family scope

Generally, investors who are at least 18 years old and are not EU citizens can apply. One of the program's strongest features is its broad family scope: a single investment can cover a spouse, children up to a certain age, and in most cases the parents of both spouses.

The number of family members included and their age conditions affect the application cost and should be clarified from the start. Because children may age out of eligibility over time, it is important to plan family inclusion alongside your application timing.

Advantages and points to watch

The main advantages are:

• Visa-free travel within the Schengen area.
• No physical residence requirement.
• Broad family coverage from a single investment.
• A renewable five-year permit as long as the investment is maintained.

There are also points you should keep in mind:

• The Golden Visa does not directly grant a work permit; separate rules apply for employment in the country.
• The permit grants residence rights; it does not automatically convert into citizenship.
• Under current rules, short-term (daily or tourist-style) rental of the property underlying the permit is restricted, so expecting Airbnb-style income can be misleading.
• Property prices, taxes, and possible vacancy periods affect returns; market risk is always present.
• Program rules and thresholds can change with political and economic developments.

Common mistakes

Even though the program's rules may look settled, applicants frequently get tripped up on the same points in practice. Knowing these in advance saves time and cost:

• Assuming the wrong threshold: relying on sources that still describe the program with a single 250,000 euro figure, then realizing too late that the chosen area actually falls into a higher tier.
• Overlooking the floor area and single-property requirement: trying to meet the threshold with several smaller properties may not comply with current rules.
• Underestimating source-of-funds requirements: incomplete documentation of the money's origin is the most common cause of delays.
• Overstating returns: treating expected rental income and appreciation as guaranteed; market risk is always present.

An independent advisor plans these items from the outset and minimizes surprises. At Golden Visa Partners, we manage your file through a single senior point of contact led by our Director of Investment and Immigration Programs, Burak Unal, with all costs shared upfront.

The path to citizenship

The Greece Golden Visa is not a citizenship by investment program; it is a residence program. Still, once conditions such as a set period of legal residence, language proficiency, and integration are met, a future citizenship application may become possible.

However, citizenship generally requires physical residence and additional conditions, so it cannot be said that everyone who obtains the golden visa will automatically become a citizen. It is important to clarify the difference between citizenship and residence before choosing the program.

If you would like to compare Greece with other European programs, you can review alternatives that fit your budget on our program comparison page, or contact us for a free consultation about your personal situation.

Frequently Asked Questions

What is the minimum investment for the Greece Golden Visa?

As of this writing, the minimum real estate threshold is 400,000 euros or, in high-demand areas, 800,000 euros; special scenarios such as historic building restoration or conversion to residential use may offer a 250,000 euro option. Since figures can change, confirm the current amount with an advisor before applying.

Do I have to live in Greece?

One of the program's most attractive features, as of this writing, is that there is no physical residence requirement. As long as you maintain your investment, you can renew your permit without ever staying in the country. Since this rule can change, we recommend asking an advisor about the current status.

How long does the permit take to obtain?

The timeline varies depending on document preparation, property selection, and appointment availability. It would not be accurate to promise a specific number of days; the process is completed within a few months for most files, but every case has its own conditions.

Can I include my family?

Yes. A single investment can cover your spouse, children up to a certain age, and in most cases the parents of both spouses. Because scope and age conditions affect the application cost, these should be planned from the start.

Does the Golden Visa give me citizenship?

No, it does not grant citizenship directly; it provides a residence permit. Citizenship may come up in the future only once separate conditions such as legal residence duration, language, and integration are met, and it cannot be guaranteed in advance.

Can I sell my investment later?

In principle you are free to sell your property; however, since disposing of the investment can remove the basis for your residence permit, you should review your permit status and alternative investment options with an advisor before selling.

Disclosure: this article is for general information only and does not constitute legal, tax, immigration, or investment advice. Programs and amounts can change; confirm current details and your personal eligibility with a qualified advisor before taking action.