Greece Golden Visa Program
Migration Program Details & Application
Program Overview
Project Description
• Policy nature: By purchasing eligible Greek real estate, a family of three generations can directly obtain a Greek permanent residency card (5-year term, infinitely renewable). No residency requirement (no "immigration jail").
• Latest investment threshold (effective September 1, 2024):
• €800,000: Attica region (including central Athens, northern and southern districts), Thessaloniki, Mykonos, Santorini, and islands with a population of over 3,100.
• €400,000: Other areas outside the aforementioned regions
• €250,000: Limited to the following two categories: ① Commercial property converted into residential (and the conversion is already completed); ② Purchase of a protected historical building (restoration value must be no less than €250,000).
• Property requirements: The value of a single property must meet the requirements; one or more properties can be purchased (total value must meet the requirements); properties cannot be used for short-term rentals (such as Airbnb), but long-term rentals are allowed.
• Permanent residency benefits: unlimited renewal, visa-free access to the Schengen Area, children can attend international schools, but cannot work locally (can do business or start a company).
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• Policy nature: By purchasing eligible Greek real estate, a family of three generations can directly obtain a Greek permanent residency card (5-year term, infinitely renewable). No residency requirement (no "immigration jail").
• Latest investment threshold (effective September 1, 2024):
• €800,000: Attica region (including central Athens, northern and southern districts), Thessaloniki, Mykonos, Santorini, and islands with a population of over 3,100.
• €400,000: Other areas outside the aforementioned regions
• €250,000: Limited to the following two categories: ① Commercial property converted into residential (and the conversion is already completed); ② Purchase of a protected historical building (restoration value must be no less than €250,000).
• Property requirements: The value of a single property must meet the requirements; one or more properties can be purchased (total value must meet the requirements); properties cannot be used for short-term rentals (such as Airbnb), but long-term rentals are allowed.
• Permanent residency benefits: unlimited renewal, visa-free access to the Schengen Area, children can attend international schools, but cannot work locally (can do business or start a company).
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Eligibility & Requirements
(illustrate)
The review criteria are:
• The main applicant must be at least 18 years old (no upper age limit)
No criminal record
Purchase Greek health insurance
• Complete the minimum investment amount mentioned above, and provide a clear explanation of the legal source of funds.
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The review criteria are:
• The main applicant must be at least 18 years old (no upper age limit)
No criminal record
Purchase Greek health insurance
• Complete the minimum investment amount mentioned above, and provide a clear explanation of the legal source of funds.
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Application Process & Advice
suggestion
1. Exercise caution when considering a €250,000 property renovation: converting commercial properties to residential involves high risks due to issues with property rights, occupancy permits, and renovation costs; the cost of restoring historical buildings is unpredictable. This option is more suitable for investors with local lawyers and construction teams to assist them.
2. If budget is limited: Consider less popular areas in the €400,000 range (such as the central mountainous region of Greece or the Peloponnese peninsula). The total property price is lower, but the liquidity is poor.
3. Don't expect rental returns: The new policy prohibits short-term rentals, and long-term rental income is approximately 2-41 TP/3T, with strict tenant protection laws. The main value of the Golden Visa is the residency status, not investment returns.
4. Note the age of children: Accompanying children must be under 21 years old and unmarried. Permanent residency status will automatically expire when the children turn 21 (they can apply for an extension until they turn 24, after which they will need to switch to another visa).
5. Property prices are severely inflated: Due to speculation in the central Athens area in recent years, the same properties have increased by over 60% compared to 2018, reducing their cost-effectiveness. It is recommended to compare with Malta or Spain.
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Greek permanent residency application process
1. Property selection and legal due diligence: View properties through licensed real estate agents/lawyers, and have lawyers conduct title searches and tax arrears checks.
2. Sign the pre-sale agreement and pay the deposit: usually 10% of the house price.
3. Opening a Greek bank account and obtaining a tax identification number (handled by a lawyer authorized by the POA).
4. Full payment and completion of transfer of ownership: Transfer funds overseas to the seller's account or lawyer's escrow account and sign the final purchase contract.
5. Submitting the residency application: The lawyer will submit the necessary documents on your behalf (purchase contract, property certificate, insurance, criminal record check, etc.). Applicants can sign and submit the Power of Attorney (POA) at the Greek embassy or consulate in their home country; there is no need for them to go in person.
6. Obtain the "blue paper" (temporary residence permit): This allows entry into the country.
7. Fingerprinting upon arrival in Greece: Biometric information will be collected at the Greek Immigration Service approximately 6 months from now.
8. Obtain a permanent residency card: The approval process takes about 2-4 months. The card is valid for 5 years and needs to be renewed every 5 years thereafter (you must still own the property when renewing).
Total duration: 6-9 months on average from payment to card issuance.
1. Exercise caution when considering a €250,000 property renovation: converting commercial properties to residential involves high risks due to issues with property rights, occupancy permits, and renovation costs; the cost of restoring historical buildings is unpredictable. This option is more suitable for investors with local lawyers and construction teams to assist them.
2. If budget is limited: Consider less popular areas in the €400,000 range (such as the central mountainous region of Greece or the Peloponnese peninsula). The total property price is lower, but the liquidity is poor.
3. Don't expect rental returns: The new policy prohibits short-term rentals, and long-term rental income is approximately 2-41 TP/3T, with strict tenant protection laws. The main value of the Golden Visa is the residency status, not investment returns.
4. Note the age of children: Accompanying children must be under 21 years old and unmarried. Permanent residency status will automatically expire when the children turn 21 (they can apply for an extension until they turn 24, after which they will need to switch to another visa).
5. Property prices are severely inflated: Due to speculation in the central Athens area in recent years, the same properties have increased by over 60% compared to 2018, reducing their cost-effectiveness. It is recommended to compare with Malta or Spain.
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Greek permanent residency application process
1. Property selection and legal due diligence: View properties through licensed real estate agents/lawyers, and have lawyers conduct title searches and tax arrears checks.
2. Sign the pre-sale agreement and pay the deposit: usually 10% of the house price.
3. Opening a Greek bank account and obtaining a tax identification number (handled by a lawyer authorized by the POA).
4. Full payment and completion of transfer of ownership: Transfer funds overseas to the seller's account or lawyer's escrow account and sign the final purchase contract.
5. Submitting the residency application: The lawyer will submit the necessary documents on your behalf (purchase contract, property certificate, insurance, criminal record check, etc.). Applicants can sign and submit the Power of Attorney (POA) at the Greek embassy or consulate in their home country; there is no need for them to go in person.
6. Obtain the "blue paper" (temporary residence permit): This allows entry into the country.
7. Fingerprinting upon arrival in Greece: Biometric information will be collected at the Greek Immigration Service approximately 6 months from now.
8. Obtain a permanent residency card: The approval process takes about 2-4 months. The card is valid for 5 years and needs to be renewed every 5 years thereafter (you must still own the property when renewing).
Total duration: 6-9 months on average from payment to card issuance.