Greece still offers one of the most accessible programs for investors aiming for an EU passport and Schengen free movement. The updated Greece Golden Visa (Investment Residency) rules as of 2025 create a pathway to citizenship under certain conditions, with both real estate and financial investment options.
Fundamental Logic of the Greece Investment Residency and Citizenship Program
The Greece Golden Visa Program grants 5-year renewable residency permits to foreign investors who are not EU/EEA citizens in exchange for a specific amount of investment. The backbone of the program is real estate investment, but starting in 2025, various options such as bank deposits, bonds, funds, and startup investments will also come to the forefront.
This residency permit, when structured correctly, offers advantages such as:
- Visa-free travel in the Schengen Area,
- Access to residency, health, and education rights in Greece,
- Income from rent/interest/dividends from real estate or financial investments,
- Application for Greek citizenship (EU passport) after at least 7 years of residency.
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2025 Rules: How Investment Amounts Have Changed?
With regulations accepted at the end of 2024 (especially Law 5100/2024), Greece has tiered real estate investments on a regional basis. The aim is to reduce housing pressure in areas such as Athens, Thessaloniki, and popular islands, and to spread investment across the country.
1. Real Estate Investment: 3-Tier System
As of 2025, there are three main levels in Greece Golden Visa real estate investments. For all standard residential investments, a minimum size of 120 m² is required unless otherwise specified.
Tier 1 – €800,000 (High Demand Areas)
Minimum investment: €800,000
Applicable in high-demand locations of the following nature:
- Central and high-demand districts of Athens and Thessaloniki,
- Highly touristic islands like Mykonos and Santorini,
- Other islands with a population of over 3,100 and similar high-density areas.
Basic requirements at this level:
- Minimum €800,000 investment for a single property,
- The property must be at least 120 m²,
- It must be residential, with no commercial nature or conversion requirement.
Tier 2 – €400,000 (Other Areas)
Minimum investment: €400,000
Applicable for all other regions of Greece outside the high-demand areas of Tier 1:
- Inland areas of the country,
- Less touristic coastal regions,
- Smaller towns and villages.
The rule is clear at this level:
- Minimum €400,000 investment for a single residence,
- Must be at least 120 m² in size.
Tier 3 – €250,000 (Commercial to Residential Conversion and Historical Buildings)
Minimum investment: €250,000
This lowest threshold is valid nationwide but only for specific project types:
- Projects converting commercial real estate into residential,
- Restoration of registered/historical buildings (listed buildings).
Key points:
- The conversion or restoration must be completed before the Golden Visa application.
- A transition period was granted for deposits made before 2024:
- 10% deposit until August 31, 2024,
- Full payment until December 31, 2024.
Although the general principle is a single property, legislation allows for the total value of multiple properties to meet the threshold in some cases. However, Greek authorities prefer the single property structure to be clearer and more desirable.
Investment Options Outside Real Estate
For investors who do not wish to purchase real estate, the program offers diversified financial instruments starting in 2025. These options generally require a specific minimum holding period (e.g., at least 3 years for bonds).
- Startup Investment (new with 2025):
- Investment of at least €250,000 in a Greece-based or Greek startup,
- The investor’s share and voting rights in the company must not exceed 33%,
- At least 2 jobs must be maintained for 5 years.
- Capital Contribution:
- Minimum capital investment of €500,000 in Greek companies, real estate funds, or Greece-focused closed-end funds.
- Fund/Bond/Stock Investment:
- Investment funds or alternative funds investing in Greek assets: at least €350,000,
- Greek government bonds with a maturity of at least 3 years: at least €500,000,
- Shares or corporate bonds of companies listed on Greek stock exchanges: at least €800,000.
- Bank Deposit:
- Deposit of €500,000 in a Greek bank with a minimum 1-year term and automatic renewal.
Such financial investments typically need to be maintained for at least 5 years and kept within Greece.
Who Can Apply? Eligibility Criteria and Family Inclusion
The Greece Golden Visa Program is open to investors who are not EU/EEA citizens and are at least 18 years old. The main criteria are:
- Clean criminal record,
- Proof that the funds for investment come from a legal source,
- Valid passport and health insurance,
- Must not have been a tax resident in Greece for at least 7 out of the last 8 years (especially important for those wishing to benefit from tax advantages).
The program is quite inclusive for family members:
- Spouse or registered partner,
- Children under 21 (in special circumstances and with educational requirements, older dependent children may also be included),
- Dependent parents of both the investor and spouse.
Tax Advantages
Greece offers a fixed annual tax model of €100,000 for a period of 15 years for newly relocated tax residents. This regime covers foreign-sourced income; however, some items such as inheritance and gifts may be excluded from this scope.
Application Process: Step by Step Greece Golden Visa
The most critical factor in a successful application is the correct structuring of the investment and document set before application. The process generally proceeds as follows:
1. Selection and Securing of Investment
- For real estate: A sales contract is signed, a deposit or full payment is made, and a title deed or promise of title deed contract is prepared.
- For financial investment: A bank account is opened, and the purchase of bonds/funds/company shares or bank deposit investment is made.
2. Preparation of Documents
The following documents are generally required:
- Passport and biometric photos,
- Criminal record, apostille, and sworn translation if necessary,
- Valid health insurance in Greece,
- Title deed, bank receipts, notarized contracts showing that the investment has been made,
- Government fees and card fees (e.g., a low but mandatory item like ~€16 card fee for the main applicant).
3. Submission of Application and Biometrics
- The application is made to the relevant immigration office in Greece or, in some cases, to Greek diplomatic missions abroad.
- The investor and family members must travel to Greece at least once to provide biometric data.
4. Evaluation and Issuance of Residency Card
- Processing times vary based on the volume of applications but typically can take 4 months or more.
- Once approved, a 5-year valid residency card is issued for the investor and family members.
This residency permit can be renewed indefinitely every 5 years as long as the investment is maintained. When the property is sold, the right to residency ends unless an equivalent new investment is made.
Path to Citizenship in 7 Years
The Golden Visa is not direct citizenship but a model of first residency, then citizenship. The general framework for Greek citizenship is as follows:
- At least 7 years of continuous legal residency,
- Meeting physical residency conditions in certain years,
- Greek language proficiency (typically at B1 level) and integration exam,
- Clean criminal record and indicators of integration into the country.
Once citizenship is obtained, the applicant and eligible family members gain access to the rights to live, work, and study in other EU countries as EU citizens.
Costs and Additional Expenses: Beyond the Investment Amount
Most investors focus solely on the minimum investment amount; however, the following items should be considered when calculating the total cost:
Mandatory Taxes and Fees
- Property transfer tax: Approximately 3%,
- VAT: VAT can rise up to 24% in some new projects (exemptions may apply in some new constructions),
- Notary and land registry fees,
- Residency card and application fees.
Legal and Operational Costs
- Legal consultancy for real estate and investment contracts,
- If necessary, costs for investment through a foreign company including company formation and accounting expenses,
- Maintenance, dues, insurance, and if necessary, local government and property management services.
Advantages of the Greece Golden Visa
- Schengen free movement: Visa-free travel to 26 Schengen countries under the 90/180 day rule.
- Family-oriented structure: Spouse and children also gain residency rights with a single investment.
- Potential for investment returns: Up to 5% rental yield in real estate in the right areas, expected returns of 4-5% in fund investments.
- Residency without minimum physical presence requirement: Continuous residence in Greece is not mandatory; this provides flexibility for investors seeking a “Plan B”.
- Pathway to EU citizenship: Creates a strategic citizenship option after 7 years.
Risks, Changing Regulations, and Considerations
Like any investment, the Greece Golden Visa program carries certain risks and uncertainties:
- Risk of regulatory changes: The increase in thresholds during 2024-2025 indicates that future increases are also possible. The EU’s pressure on “golden visa” programs may tighten the conditions of the program in the future.
- Market risk: The increase in property prices in tourist areas also brings the risk of future corrections.
- Local compliance and tax: A poorly structured investment can lead to unexpectedly high taxes and operating costs.
At this point, it is crucial to structure the investment not only for “obtaining residency” but also for sustainable investment and tax optimization.
How Corpenza Provides Support?
The Greece Golden Visa Program is not just about choosing a real estate or bank product. Especially for business people and families with global mobility plans, this step often involves:
- Incorporation in Greece or another EU country,
- Payroll/EOR and posted worker structures for teams to be sent abroad,
- Tax optimization of international income,
- Planning of education, residency, and long-term citizenship strategy for family members.
It is a holistic project that needs to be addressed together.
As Corpenza, we:
- Design the company formation and international accounting structure in Greece and other EU countries,
- Optimize your tax and social security burden with payroll, EOR, and posted worker models for sending personnel abroad,
- Create a comprehensive strategy in coordination with legal and financial advisors in the processes of Golden Visa and investment citizenship.
Thus, we help you establish not just a residency card but a sustainable and scalable international structure.
Conclusion: Greece Golden Visa, Not Just a “Plan B” but a Strategic Gateway to Europe
The Greece Investment Citizenship and Residency Program offers a more sophisticated yet still relatively accessible structure with the 2025 rules. From €250,000 conversion projects to €800,000 prime location investments, from startup participations to bond and fund investments, it creates a strong foundation for EU residency and long-term citizenship.
However, each investor’s profile, risk appetite, and family dynamics are different. Therefore, before making a decision:
- Always verify the current regulations from official sources (for example, Greek Ministry of Migration),
- Work with a specialized consultancy that addresses tax, incorporation, and international mobility aspects together.
Disclaimer
This text is prepared for general informational purposes and does not constitute legal, financial, or tax advice. The regulations regarding Greece Golden Visa and investment citizenship programs may change frequently. We strongly recommend checking the current regulations from official sources before any investment and residency/citizenship decision and seeking professional support from competent lawyers and financial advisors.
