Golden Visa in Greece

Eligibility criteria, investment options and thresholds for entry into the Greek Golden Visa Program are stipulated in the new Immigration Code (Law 5038/2023), the relevant provisions of which entered definitely into force on 31.03.2024, replacing those of the previous Immigration Code (Law 4251/2014).

Pursuant to the changes made to article 100 of Law 5038/2023 by article 64 of Law 5100/2024, foreign non-EU/EEA country citizens are granted a five-year residence permit (Golden Visa) for themselves and their family members, which can be permanently renewed every five years, in exchange for a real estate investment in a single property with a minimum area of 120 square meters at a minimum purchase value of

• 800,000 euros for the entire Region of Attica, the Regional Units of Thessaloniki, Mykonos and Santorini, as well as for the islands with a current population of more than 3,100 inhabitants like Crete, Euboea, Andros, Aegina, Salamis, Skopelos, Corfu, Kefalonia, Zakynthos, Lefkada, Syros, Naxos, Paros, Milos, Lesbos, Chios, Samos, Rhodes, Karpathos, and some other ones
• 400,000 euros for all other regions of the country.

Another available option for obtaining Golden Visa via real estate investment is the conclusion of a long-term (10 year) contract for a complex tourist accommodation in accordance with article 8 par. 2 of Law 4002/2011, or of a contract for a timeshare tourist accommodation in accordance with the provisions of Law 1652/1986, both contracts at a value at least equal to the above values (as depending on the area).

Exceptionally, the minimum investment threshold remains 250,000 euros, regardless of the location and the size of the property, in case

• the property is converted from commercial into residential use, under the condition that the investment is carried out in a single property and the conversion of the use has been completed before submitting the application for Golden Visa, or
• the property is located in listed buildings, i.e., buildings with historic interest under special protection, under the condition that the investment is carried out in a single property completely restored or reconstructed by the investor.

Foreign non-EU/EEA country citizens may, based on the former applicable thresholds (: 500,000 euros for certain areas* – 250,000 euros for all other regions of the country) and rules, finalize their real estate investment for Golden Visa by December 31, 2024, under the condition of an advance payment of 10% on the purchase price or the total contractual rent pursuant to the stated-above alternative option, or the full payment of the agreed purchase price or contractual rent in one of the ways prescribed by article 100 para. 5 of Law 5038/2023, or by signing a notarial preliminary agreement or a private agreement of certified date and submitting relevant proof of credit from the buyer’s bank regarding the remittance of the amount of the advance payment to the seller’s account until August 31, 2024.

In case the purchase of the property or properties is not completed, the aforementioned citizens may complete their investment in another or other properties under the former applicable thresholds and rules, no later than April 30, 2025.

* To these areas belong the Regional Units of the North, Central and South Sector of Athens and the Municipality of Vari – Voula – Vouliagmeni of the Attica Region, the Municipality of Thessaloniki of the Central Macedonia Region and the Regional Units of Mykonos and Santorini of the South Aegean Region.

Important to know!

All Golden Visa investors may rent out their properties under the following restrictions:

The properties acquired in full ownership by them for the initial granting or renewal of Golden Visa are prohibited to be rented out short-term in the context of the sharing economy (e.g., through Airbnb), as well as to be sublet.

Pursuant to article 99 of Law 5038/2023, other investment options that qualify foreign non-EU/EEA citizens for a Golden Visa are the following financial engagements:

• A capital contribution, amounting to at least 500,000 euros, either to a company head-quartered or established in Greece, or to a Real Estate Investment Company, whose object is to invest exclusively in Greece, or to a Venture Capital Company or Venture Capital Fund (“Alternative Investment Funds”), whose object is to invest exclusively in companies head-quartered or established in Greece, in accordance with the specific conditions stipulated in the relevant law provisions for each one of the said financial engagements.

• Purchase of Greek Treasury bonds, with an acquisition value of at least 500,000 euros and a residual maturity, at the time of purchase, of at least 3 years, through a credit institution established in Greece, which is also their custodian.

• Term deposit of at least 500,000 euros, in a domestic credit institution, for at least 1 year, with a standing renewal order.

• Purchase of shares, corporate bonds or Greek Treasury bonds, which are listed for trading or traded in regulated markets or multilateral trading facilities operating in Greece, of an acquisition value of at least 800,000 €, in accordance with the specific conditions stipulated in the relevant law provision.

• Purchase of shares of an acquisition value of at least 350,000 euros in a Mutual Fund, which has been established in Greece or another country and whose object is to invest exclusively in stock, corporate bonds or Greek Treasury bonds, which are listed for trading or traded on regulated markets or multilateral trading facilities operating in Greece, in accordance with the specific conditions stipulated in the relevant law provision.

• Purchase of shares or stock of an acquisition value of at least 350,000 euros in an Alternative Investment Fund, which has been established in Greece or another EU Member State and whose object is to invest exclusively in Greece, in accordance with the specific conditions stipulated in the relevant law provision.

Our services related to the realization of the above investment options and the granting of Golden Visa to you and your family members encompass all conceivable stages of actions, as follows:

Offering advisory support in defining and pursuing your asset investment & immigration plan in compliance with all applicable provisions of Greek law

In addition to preliminary advisory support and all above actions, our services may also include

• your timely information about upcoming or occurring legislative changes that may affect your asset investment & immigration plan
• the provision of advice and assistance in implementing any desired restructuring of your investment
• legal and technical support in matters concerning the utilization of the real estate you have acquired
• through the tax accountant office assigned by us, the preparation and submission of your tax returns for each year
• the settlement of any issue that may arise and is related to your claims or obligations towards the Greek state and third parties.