Greek Greece Golden Visa (Residence by Investment)

Who the Greece Golden Visa is for

The programme suits non-EU nationals — including UK citizens — who want EU residency and visa-free Schengen travel without relocating or giving up their existing tax residence. Because there is no minimum stay, it is popular with investors who want a European foothold, a holiday or rental home, and an insurance policy for future mobility rather than immediate day-to-day life in Greece.

• Non-EU (third-country) nationals aged 18+
• Investors seeking EU residency without a relocation or stay requirement
• UK buyers comparing Greece against the now-closed Spanish and property-free Portuguese schemes
• Families wanting one application to cover spouse, children and parents

Investment options and thresholds

Greece Golden Visa is fundamentally a real-estate programme, and the 2024 reform replaced the flat €250,000 entry point with location-based tiers. Alternative non-property routes (capital transfers, Greek government bonds, shares or bank deposits, typically €400,000–€800,000) also exist, but the overwhelming majority of applicants use property.

• €800,000 — property in prime zones (Attica, Thessaloniki, Mykonos, Santorini, islands over 3,100 people)
• €400,000 — property anywhere else in Greece
• €250,000 — only for listed-building restoration or commercial-to-residential conversion
• 120 m² minimum for the €800k and €400k tiers; a single property must meet the whole threshold
• Non-property capital routes remain available but are far less used

The property route in detail

For the two mainstream tiers the qualifying investment must be a single residential property that on its own meets the threshold and is at least 120 m² of usable interior space — you cannot combine several small units to reach €400,000. The €250,000 conversion/restoration tier is the only way to enter near the old price point, and eligible buildings are limited and can each be used only once.

Since 2024 the qualifying home cannot be let out on short-term, sharing-economy platforms; breaching this can cost you both the permit and a €50,000 fine. Longer-term rental of the property is generally permitted, which many investors use for yield.

• Single property must meet the full threshold (no aggregation)
• Minimum 120 m² for €800k and €400k tiers
• €250k tier: listed-building restoration or commercial-to-residential conversion only
• No short-term/Airbnb letting of the golden-visa property

Application process and timeline

You obtain a Greek tax number (AFM) and bank account, complete the property purchase before a notary, then file the residence-permit application with biometrics. A biometric receipt (“blue slip”) lets you travel in the Schengen Area while the physical card is produced. Most complete files are decided within roughly two to six months.

• Get an AFM (tax number) and Greek bank account
• Complete the notarised property purchase for the full threshold
• Submit the permit application with biometrics and proof of investment
• Receive the five-year card; renew every five years while the property is retained

What the permit gives you

The Greece Golden Visa provides five-year renewable residence with visa-free travel throughout the Schengen Area, family inclusion, and access to Greek services. It does not grant the right to work as an employee automatically, but investors can run businesses and earn rental income. Residency renews indefinitely while you keep the investment.

• Five-year renewable EU residence permit
• Visa-free travel across the Schengen Area
• Spouse, children (to 21/24) and parents of both spouses included
• No minimum-stay obligation to keep the permit

Costs, fees and taxes

Beyond the property price, budget for a property-transfer tax (currently 3.09% on most resale homes), notary, legal and agency fees (typically around 1.5–2% each), and government application/card fees per applicant. Greece taxes rental income and levies an annual property tax (ENFIA); non-residents are generally taxed only on Greek-source income.

• Property transfer tax around 3.09% on qualifying resale purchases
• Notary, legal and agent fees (roughly 1.5–2% each)
• Per-applicant government permit and card fees
• Ongoing ENFIA property tax and tax on any rental income

Recent changes and restrictions

The defining change is Law 5100/2024, which introduced the €800,000/€400,000/€250,000 tiers, the 120 m² minimum, the single-property rule and the short-term-letting ban. In the wider market, Spain abolished its golden visa (effective 3 April 2025) and Portugal removed real estate from its programme (Law 56/2023, in force October 2023), leaving Greece as the leading property-based golden visa in the EU — which is precisely why its thresholds were raised.

• Tiered thresholds and 120 m² rule under Law 5100/2024
• €250k tier now restricted to restoration/conversion only
• Short-term letting of the qualifying property banned (€50,000 fine)
• Comparative context: Spain abolished its scheme (Apr 2025); Portugal dropped property (Oct 2023)