For more than a decade, the Greek Residency by Investment program – widely known as the “Greek Golden Visa” – has been one of the most attractive routes to long-term residence in Europe.
The combination of low investment requirements, simple eligibility criteria and quick turnaround times makes it the first choice for investors seeking a European base, global mobility and lifestyle benefits without the complexities of relocation. As interest in EU residency programs continues to grow, the Greek Golden Visa is proving to be a stable, transparent and budget-friendly option for families and investors around the world.
In this comprehensive overview, we examine how the program works, what makes it so attractive and why it is often considered the cheapest gateway to Europe.
What is the Residency by Investment program in Greece?
The Greek Golden Visa allows non-EU citizens to obtain a renewable five-year residence permit in return for investing in real estate. The minimum investment threshold starts at 250,000 euros, making it one of the most accessible residency-by-investment programs in the European Union. Unlike many comparable systems, in Greece there are no physical residence requirements either before or after the residence permit is issued. This flexibility allows investors to maintain their primary lifestyle elsewhere while enjoying all the benefits of EU residency.
Successful applicants will receive a residence permit granting unrestricted access to the Schengen area and allowing travel to 29 European destinations for 90 days within a 180-day period. After five years, investors can apply for permanent residency and after seven years of physical residence they may be able to obtain Greek citizenship.
Why Greece introduced the program
The Golden Visa was originally introduced in 2013 and was part of Greece’s broader economic recovery strategy, aimed at revitalizing the real estate market, attracting foreign capital and increasing long-term investment flows. Over the years, the program has proven extremely successful – not only in encouraging real estate development, but also in promoting Greece as a global center for tourism, business and resettlement.
Today it serves as a strategic bridge connecting international investors to the EU market while giving Greece the long-term financial stability it sought to achieve.
Investment options explained
The starting investment amount of €250,000 applies to properties that are either:
- Converted from commercial to residential use, or
- Classified as historically or culturally significant and in need of restoration.
These projects often involve major renovations, energy improvements and modern interior design, creating residential units that meet the comfort and standards of new buildings.
Greece has introduced additional investment categories beyond the 250,000 euro limit:
400,000 euro level
Applicable to:
- Regions such as Halkidiki, Crete, Peloponnese and others
- Residential properties over 120 sqm.
- Mid-range markets with strong tourism and rental demand
800,000 euro level
Applies to premium or busy locations:
- Athens metropolitan area
- Thessaloniki
- Mykonos and Santorini
- Islands with more than 3,100 inhabitants
These areas generally offer higher capital appreciation and a more stable long-term rental market.
Importantly, Greece allows for flexible financing and a lenient approach to source verification, making the process accessible to a wide range of investors.
Family integration: A cross-generational advantage
One of the strongest features of the Greek Golden Visa is its ability to support three generations with one application:
- Main applicant and spouse/partner
- Children under 21
- Parents of the main applicant and spouse
Incorporating family members requires no additional investment, dramatically reducing the overall cost of an intergenerational move.
As long as the investment property is maintained, the residence permit can be extended indefinitely.
The application process step by step
Although Greece’s migration framework is regulated by EU standards, the path to the Golden Visa is extremely streamlined. Here’s a simplified breakdown of how the process typically works:
1. Advice and pre-approval
Investors undergo a background check and receive tailored advice on real estate options, required documents and timelines.
2. Property selection and reservation
A curated portfolio – often with virtual or on-site tours – helps investors find the ideal property. Typically a 10% reservation deposit is required.
3. Completion of purchase
A Greek lawyer carries out the property transfer on behalf of the investor by power of attorney, so travel is optional at this stage.
4. Submitting the residence application
All documents are submitted to the Greek migration authorities and biometrics appointments are scheduled for all applicants over the age of six.
5. Approval and issuance of residence cards
The family receives their residence permit within about six months.
A snapshot of life as a Greek resident
Possessing a Greek residence permit offers you numerous advantages:
- Access to the entire Schengen area
- The opportunity to live in one of the safest and most picturesque countries in Europe
- Favorable tax regimes, including the Non-Dom program (€100,000 annual tax on foreign income)
- The right to open an EU bank account
- Ways to invest, operate or start a business in Greece
Additionally, Greece’s healthcare and education sectors meet high European standards, making it ideal for families planning a long-term move.
Why the Greek Golden Visa is so special
Investors are drawn to Greece because it combines security, flexibility, affordability and long-term value better than almost any other EU program. Highlights include:
- The lowest real estate investment threshold in Europe
- No donation requirement
- High ROI potential (4-5% rental income; 10%+ capital appreciation)
- Indefinite renewal options
- Straightforward, predictable legal processes
All these factors make the program not only a residency solution but also a prudent financial strategy.
Final thoughts
In a global landscape where mobility, financial diversification and long-term security are more important than ever, the Greek Golden Visa offers a balanced and accessible solution. Whether your goal is access to the Schengen area, real estate investment, family relocation or a strategic Plan B, Greece offers a uniquely stable path surrounded by cultural wealth, breathtaking landscapes and European living standards.
For investors seeking an entry point to the European Union at an affordable cost – without sacrificing quality or opportunity – the Greek Residency by Investment program remains one of the most compelling options on the market today.
