Greece Golden Visa
One of Europe's most accessible Golden Visa programs. Invest EUR €400,000 in qualifying Greek real estate (or EUR €250,000 for a conversion/restoration project) and receive a renewable 5-year residence permit with full Schengen access — no minimum stay required to keep or renew it.
Greece's Golden Visa grants a renewable 5-year residence permit (not permanent residency outright) to non-EU nationals who invest in qualifying Greek real estate. Since September 2024, investment starts from EUR €400,000 in most regions (EUR €800,000 in Athens, Thessaloniki, Mykonos, Santorini, and islands with populations over 3,100). A lower EUR €250,000 threshold remains available nationwide, but only for commercial-to-residential conversions or restorations of listed buildings. Keeping and renewing the permit itself requires no minimum stay — but both EU permanent residence and Greek citizenship (after 7 years) require genuine, continuous physical presence that most investors who don't actually relocate never accrue.
- Investment From
- EUR €250,000 (conversion/restoration)
- Residency Type
- 5-year renewable permit (Schengen)
- Processing Time
- 2–4 months
- Stay Requirement to Renew
- None
- Citizenship Eligible
- After 7 years of actual presence
Compare Other Programs
Other routes in this category that may fit your situation
Investment Options
Conversion / Restoration
EUR €250,000Convert a commercial property to residential use, or restore a listed building — anywhere in Greece, including Athens and the high-demand islands. The lowest threshold available.
- Cheapest real-estate route
- Applies even in Athens and prime islands
- Project eligibility must be confirmed
Real Estate — High-Demand Zone
EUR €800,000Purchase residential or commercial property in Athens, Thessaloniki, Mykonos, Santorini, or islands with populations over 3,100.
- Most popular route
- Rental income permitted
- Zone threshold increased in September 2024
Real Estate — Other Regions
EUR €400,000Purchase property in any Greek region not classified as a high-demand zone. Lower threshold available throughout most of Greece.
- Strong value for investment
- Large selection of properties
- Coastal and rural options
Startup Investment (Elevate Greece)
EUR €250,000Invest in an innovative startup registered on the Elevate Greece platform — capped at 33% equity/voting rights. Must create at least 2 jobs in year one and maintain them through the 5-year permit.
- New route under Law 5275/2026 (Feb 2026)
- No physical property required
- Requires creating and maintaining at least 2 jobs
Mutual / AIF Investment Funds
EUR €350,000Invest in a mutual fund or Alternative Investment Fund (AIF) with at least €10M in total assets. Direct government bonds and listed securities carry a higher threshold (€500,000–€800,000) — confirm the exact instrument with your advisor.
- Lowest threshold among non-real-estate routes
- No physical property required
- Must be maintained for 5 years
Fixed-Term Bank Deposit
EUR €500,000Place a fixed-term deposit with a Greek credit institution.
- No physical property required
- A simple, lower-risk route
- Must be maintained for 5 years
Long-Term Lease
EUR €400,000Sign a 10-year long-term lease on hotel accommodation or furnished tourist residences in Greece.
- No ownership required
- Tourism-focused properties
- Lease must be non-revocable for 10 years
Who Is This For?
- Non-EU nationals aged 18+ with qualifying investment in Greek real estate
- Clean criminal record — certificate required from home country
- EUR €400,000+ in most regions (EUR €800,000+ in Athens, Thessaloniki, Mykonos, Santorini), EUR €250,000+ for a conversion/restoration project, or EUR €250,000+ in a registered startup (the Elevate Greece route, added under Law 5275/2026)
- Health insurance valid in Greece required
- Can include spouse, dependent children up to 21 (can extend to 24 for students), and parents
- No language requirement or minimum stay obligation
How It Works
- 1
Investment Planning
Identify qualifying property based on location and budget. Note: since September 2024, Athens, Thessaloniki, Mykonos, Santorini, and larger islands require EUR €800,000 minimum; other regions require EUR €400,000; EUR €250,000 remains available only for a commercial-to-residential conversion or listed-building restoration.
- 2
Property Purchase
Engage notary and legal counsel in Greece. Complete purchase with title deed registered in investor's name.
- 3
Residency Application
Submit Golden Visa application to Greek immigration authority with purchase documentation, passport, criminal record, health insurance.
- 4
Biometrics & Temporary Permit
Attend biometrics in Greece. Temporary residency certificate issued immediately — valid while application is processed.
- 5
Golden Visa Card Issued
Full 5-year residence permit issued. Renewable as long as investment is maintained. No residency requirement.
- 6
Permanent Residence (optional, rarely reached)
EU permanent residence is nominally available after 5 years, but requires near-continuous physical presence (~183 days/year) — something most Golden Visa holders never accrue without actually relocating. Most investors simply keep renewing the 5-year permit instead.
- 7
Citizenship
After 7 years of legal residency in Greece, provided you've genuinely spent at least 183 days/year physically in Greece (not just held the permit), apply for Greek citizenship. Requires a Greek language test (B1) and a culture/history assessment.
Reviewed by Ramin Asadi · RCIC · CICC #R407111 Verify
Greek immigration and citizenship law sits outside the RCIC licence, which covers Canadian immigration. This page is maintained by ITC iLand and checked against official Greek sources; the residence application is filed by Greek counsel, with whom ITC iLand coordinates. Nothing on this page is Greek legal advice.
Figures on this page were last verified against their official sources in July 2026.
What the Greek Golden Visa gives you
A five-year renewable residence permit in an EU and Schengen member state, renewable indefinitely for as long as the qualifying investment is held. It grants the right to live in Greece if you want to, and visa-free travel throughout the Schengen Area whether or not you do.
Its distinguishing feature is what it does not ask for. There is no minimum stay to keep the permit or renew it, no language requirement, and no obligation to set foot in the country after the initial biometrics. Among European residency programmes this is the lightest ongoing commitment available.
Unlike Portugal, Greece also still permits real estate to qualify — which for many applicants is the deciding difference between the two.
The qualifying routes, and the zone pricing
Greece prices real estate by location rather than uniformly, a structure introduced in 2024 to cool demand in the areas under most pressure. Get the zone wrong and the required investment doubles.
| Route | Minimum investment | What it involves |
|---|---|---|
| Conversion / Restoration | EUR €250,000 | Commercial-to-residential conversion or listed-building restoration, nationwide |
| Elevate Greece Startup Investment | EUR €250,000 | Invest in a registered innovative startup (max 33% equity/voting rights); must create 2+ jobs in year one and maintain them through the 5-year permit. Introduced under Law 5275/2026. |
| Real Estate — Other Regions | EUR €400,000 | — |
| Real Estate — High-Demand Zone | EUR €800,000 | Athens, Thessaloniki, Mykonos, Santorini, islands with population > 3,100 |
| Mutual/AIF Investment Funds | EUR €350,000 | Fund must hold ≥€10M total assets, invested in listed shares/corporate or Greek government bonds. Direct government bonds and listed instruments carry higher thresholds (€500K–€800K) — confirm the specific instrument with an advisor. |
| Fixed-Term Bank Deposit | EUR €500,000 | Placed with a Greek credit institution |
| Long-Term Lease | EUR €400,000 | — |
Which threshold applies to you
The high-demand zone — EUR €800,000 — covers Athens, Thessaloniki, Mykonos, Santorini and islands with populations above 3,100. This is where most foreign buyers instinctively look, and it is the most expensive band. Elsewhere in Greece the threshold is EUR €400,000.
The lowest entry point, at EUR €250,000, is the conversion and restoration route: converting a commercial building to residential use, or restoring a listed building. It applies nationwide, including in the high-demand zones, which makes it the only way to acquire a €250,000-priced qualifying asset in Athens.
It is also the most demanding route. You are committing to a construction project in a foreign country under a legal obligation to complete it, and restoration of listed buildings in Greece carries heritage constraints, specialist contractors and timelines that slip. The discount is real and so is the reason for it.
Law 5275/2026 also added the Elevate Greece startup route at €250,000 — an equity investment in a registered innovative startup, capped at 33% of the company, which must create at least two jobs in the first year and maintain them for the life of the permit. It is a genuine alternative to property, with genuine venture risk attached.
Source: Enterprise Greece
The zero-stay rule
Greece requires no minimum physical presence to keep the permit valid or to renew it every five years. Only the investment must be maintained.
This is the programme's core proposition, and it is genuinely unusual. It suits someone who wants an EU foothold — a Schengen travel document, a place to go if circumstances at home change, an EU base for family — without disturbing their existing life, business or tax residence at all.
Read the next section before assuming it also builds toward anything.
The mismatch between the permit and citizenship
This is the most important thing on the page, and the thing most often glossed over.
| Timeline | What it actually requires | |
|---|---|---|
| Keeping the permit | Ongoing | No minimum physical presence to keep the permit valid or renew it every 5 years — only the investment must be maintained. |
| Permanent residence | 5 years | A distinct Greek/EU permanent-residence status exists nominally at 5 years, but it requires genuine continuous residence (~183 days/year) — unreachable in practice for most Golden Visa holders, who don't relocate. Most investors simply keep renewing the 5-year investment-based permit indefinitely instead. |
| Citizenship | 7 years | Requires 183+ days/year of actual physical presence throughout the 7 years — not just holding the permit — a fundamental mismatch with the visa's own zero-stay renewal rule. Also requires B1-level Greek and a culture/history assessment; each adult family member must independently meet the presence threshold. |
What that actually means
The permit asks for zero days a year. Greek naturalisation asks for 183 or more days a year of genuine physical residence, sustained across seven years, plus B1-level Greek and an assessment on Greek culture and history. Each adult family member must independently meet the presence threshold.
These two rules are not on the same path. Someone who uses the programme as intended — holding the investment, visiting occasionally, living elsewhere — accrues nothing toward citizenship no matter how many years pass. The years count only if you actually move to Greece and live there, at which point the zero-stay advantage you bought the programme for is irrelevant.
The nominal five-year permanent residence route has the same problem: it requires genuine continuous residence, so most Golden Visa holders never reach it either and simply keep renewing the five-year investment permit indefinitely.
Buy this programme for what it is — long-term, renewable EU residence with almost no obligations — and it delivers exactly that, well. Buy it as a route to a Greek passport without relocating and you will spend seven years discovering it was never that. If an EU passport is the objective, say so at the outset and we will point you at routes that can actually produce one.
How long it takes
Greece processes these applications in roughly 2–4 months — dramatically faster than Portugal, where administrative backlogs have pushed real timelines to 18–36 months. For an applicant who wants an EU residence card in hand within the year rather than eventually, this is the single strongest practical argument for Greece over its main rival.
Law 5275/2026 also changed how the five-year permit validity is calculated, running it from the issuance of the residence card rather than from the filing date.
The investment is generally completed before or alongside the application, so unlike the Caribbean programmes you are committing capital ahead of the decision. The criteria are objective, which limits the risk, but the sequencing is worth knowing.
Source: Enterprise Greece
What it costs beyond the investment
- Property transfer tax, currently levied on the purchase, plus notary and land registry fees.
- Government application fees per applicant, at grant and at each five-year renewal.
- Greek legal representation and power of attorney — much of the process is handled locally on your behalf.
- A Greek tax number (AFM) and bank account for each applicant.
- Document translation, notarisation and apostille for every family member.
- Ongoing property costs: annual property tax, management, maintenance and insurance for as long as the asset is held — which, since the permit depends on holding it, is indefinitely.
The recurring costs matter more here than on a donation-based programme. The permit lasts only as long as the investment does, so property taxes, management and maintenance are a permanent annual charge against the value of holding the residence — not a one-off transaction cost.
Who you can include
One qualifying investment covers the family: spouse, children under 21, and in defined circumstances the parents of both spouses. Greece's inclusion of both sets of parents is more generous than most European programmes.
Note the age limit on children. Cover ends at 21 rather than at the more common 18, but it does end, and a child approaching that age needs their own status arranged before it lapses. That is a foreseeable cliff and one worth planning around at the outset rather than discovering later.
Residence, tax residence, and the difference
Holding the permit does not make you a Greek tax resident. Greek tax residence follows physical presence — broadly, more than 183 days in a year. An investor who never visits is a Greek resident for immigration purposes and remains tax resident where they actually live.
For most holders that is precisely the intention, and the zero-stay rule makes it easy to maintain. The Greek tax exposure that does arise is on Greek-source income — rental income from the qualifying property, and any eventual gain on its sale — regardless of where you are resident.
If you do intend to relocate to Greece properly, the analysis changes entirely and should be modelled with a cross-border specialist before you move.
Who this suits — and who should look elsewhere
Greece suits someone who wants EU residence and Schengen access with essentially no ongoing obligations, wants it quickly, and is content for it to remain residence rather than becoming citizenship. On those terms it is one of the strongest programmes in Europe.
It is the wrong route if
- You want an EU passport without relocating. The presence requirement for naturalisation is real and is not waived for investors.
- You want the capital to be liquid. The permit lasts only while the investment is held, so exiting the asset means giving up the residence.
- You are buying in Athens, Thessaloniki or the popular islands on a €250,000 budget — the high-demand zone threshold is €800,000 unless you take the conversion or restoration route.
- You want a passive project and are drawn to the €250,000 restoration route. That is a construction commitment with heritage constraints, in a foreign country, in a foreign language.
Country Location
Why ITC iLand for This Program?
ITC iLand has guided over 100 families through global citizenship and residency by investment programs — from Caribbean second passports to European Golden Visas. We work with government-authorized agents in each jurisdiction and bring 25+ years of international immigration expertise to ensure your application is compliant, complete, and processed without delays.
Frequently Asked Questions
Since September 2024: EUR €400,000 for real estate in most of Greece. EUR €800,000 for properties in high-demand areas: Attica (Athens), Thessaloniki, Mykonos, Santorini, and islands with over 3,100 inhabitants. The lower EUR €250,000 threshold remains available nationwide, but only for a commercial-to-residential conversion or restoration of a listed building. These thresholds may change — confirm current rules with our advisors.
Yes. There is no restriction on renting the investment property. Many investors generate rental income while holding the Golden Visa.
Yes. As of February 2026 (Law 5275/2026), Greece added the Elevate Greece startup investment route — a EUR €250,000 investment in a registered innovative startup (capped at 33% equity), requiring at least 2 jobs created. Other non-real-estate routes include mutual/AIF investment funds (from EUR €350,000), a fixed-term bank deposit (EUR €500,000), and a 10-year long-term lease (EUR €400,000).
No. There is zero minimum stay requirement. The visa is renewed every 5 years as long as the investment is maintained.
Yes. The Greek residence permit grants Schengen Area travel rights — you can visit 26 Schengen countries for up to 90 days in any 180-day period.
Not quite. The Golden Visa is a renewable 5-year residence permit, not a distinct permanent-residence status. A separate EU permanent-residence status is nominally available after 5 years, but it requires genuine, near-continuous residence (~183 days/year) — something most Golden Visa holders who don't actually relocate never accrue. In practice, most investors simply keep renewing the 5-year permit as long as the investment is maintained.
Greek citizenship requires 7 years of actual legal residency — specifically, at least 183 days per year of genuine physical presence in Greece, not just holding the permit — plus passing a Greek language test (B1) and demonstrating integration. The Golden Visa alone (with no actual stay) does not count toward citizenship — this mismatch between the visa's zero-stay renewal rule and the presence-heavy citizenship requirement is the single most important thing for investors to understand.
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