The Golden Visa, is a five-year residence permit aimed at citizens of third countries who wish to invest in real estate in Greece. With recent revisions to the relevant legislation, the program has undergone substantial changes aimed at improving the market and attracting larger investments.
Interested investors must acquire real estate worth at least 400.000 or 800.000 euros in predetermined areas, according to new regulations that are applied in 2025. Only specific categories of investments, such as those involving listed buildings and industrial spaces, retain the minimum amount of 250,000 euros.
The process for obtaining the Golden Visa requires the submission of several necessary documents, which we will examine in detail below.
What exactly is the Golden Visa?
The Golden Visa offers an excellent incentive for investors, as it is not just a visa but a residence permit in the country for five years in exchange for investing in the Greek economy. In other words, it grants the privilege to someone wishing to invest in Greece to have legal residence. This residence does not come with the obligation of permanent residence but offers the freedom to remain in the country at any time. As real estate consultants we are here to guide you through every stage of the Golden Visa acquisition process. We have prepared a detailed guide with all the information you need.
Benefits of the Golden Visa in Greece for Third-Country Citizens
Golden Visa holders, as well as their family members (spouse, children, and parents), enjoy significant benefits in Greece. The most important of these is the right to reside in the country for five years, with the possibility of acquiring permanent residence for the same period. Furthermore, the Golden Visa can be renewed every five years, provided that specific conditions are met. Holders and their families can move freely and stay in the Schengen Area countries for up to 180 days per year, gaining access to education just like Greek citizens.
Revised Requirements for Obtaining a Golden Visa in Greece
New requirements set different levels of investment based on geographical areas. Let’s take a detailed look at the current regulations for the Golden Visa in Greece, including the required investments and related restrictions.
- Minimum Investment Amount for Obtaining the Golden Visa in Greece in 2025
. For the areas of Attica, Thessaloniki, Mykonos, Santorini, and islands with a population over 3,100, the minimum investment threshold is set at 800,000 euros. In these areas, the investor is required to acquire a single property with a total value of at least 800,000 euros.
For other areas in Greece, the minimum amount for the Golden Visa is set at 400,000 euros. In any case, the investment must be made in a single property, which must have a minimum area of 120 square meters.
- Exceptions for Investments in Listed Buildings and Conversions
Although investment limits have increased, the previous requirement of 250,000 euros remains in specific cases:
– Properties that can be converted into residences: This applies to industrial buildings or parts of them that can be converted into residences, provided they have not been used as industrial properties for the last 5 years, and the conversion process was completed before submitting the Golden Visa application.
– Investments in listed buildings: If the property is listed and intended for restoration or reconstruction, the minimum amount remains 250,000 euros. A necessary condition is the completion of the restoration work before submitting the application.
Restrictions on the Use of Properties Acquired Through the Golden Visa Program
To ensure that properties acquired through the Golden Visa in Greece are primarily used for long-term leases or private use by the investor, the following restrictions have been imposed:
– Prohibition of Short-Term Rentals: Properties purchased through this program cannot be rented for short-term stays (e.g., through platforms like Airbnb, Booking, VRBO). In case of violation, the residence permit will be revoked, and a fine of 50,000 euros will be imposed.
Restrictions on Commercial Use: If the property is acquired for permanent residence, it cannot be used as an office or branch for business activities.
Rights of Family Members of the Golden Visa Holder
Family members of the Golden Visa holder have the option to apply for their own Golden Visa. This includes the spouse, children, and parents of the holder or spouse.
Required Documents for Obtaining the Golden Visa in Greece
*For the Beneficiary:*
– Four recent passport photos and a digital file with the photos.
– A copy of the passport or document proving legal entry into the country
– Private life insurance, preferably from a Greek insurance company, with full hospital coverage.
– A copy of the property title for a property worth at least 250,000 or 500,000 euros, depending on the area.
– A notarized document proving that the legal requirements for the property are met.
– A property ownership certificate from the Land Registry.
*For Family Members:*
– Four recent passport photos.
– A copy of the passport with a verified entry into Greece.
– Birth certificate (where required).
– Private life insurance, similar to that of the beneficiary.
– Family status certificate from the relevant authority, certified with the “Apostille” stamp or translated and certified by a Greek consulate or the Greek Ministry of Foreign Affairs.
To complete the Golden Visa acquisition process, a bank account in a Greek bank is required.