Blogs • July 11, 2025 • 12 Min

A Complete Guide to the Greece Golden Visa Program

Greece offers a great opportunity for those who want to live in the country, invest in real estate, and enjoy the full rights of permanent residency, without the pressure of relocating full-time. The Golden Visa program is open to non-EU nationals who invest in approved property, and in return, they get the right to stay in Greece, access public services, and move freely across the Schengen zone. And with no stay requirement, a 3-month processing time, and the option to include your whole family, it’s one of the most flexible residency programs in Europe. In this guide, we’ll walk you through how it works, what it costs, who qualifies, and everything else you need to know, from investment routes and paperwork to benefits and long-term options. Overview of Greece Golden Visa Program The Greece Golden Visa was introduced in 2013 as a way to attract foreign investment and offer residency in return. Over a decade later, it’s still one of the most straightforward programs out there, and it hasn’t gone through the major restrictions we’ve seen in places like Portugal or Spain. So, what do you actually get? A 5-year renewable residence permit The right to live in Greece (full-time or part-time, it’s up to you) Visa-free travel to 29 Schengen countries Access to public healthcare and education The option to include spouse, kids under 21, and dependent parents And here's the part that keeps it attractive: There’s no requirement to live in Greece full-time to keep your residency active. You just need to maintain your investment. What Makes This Program Stand Out Unlike many other EU residency schemes, Greece doesn’t ask you to: Spend time in the country Know the language Start a business Prove employment or active income You simply invest, apply, and maintain that investment to keep your permit valid. Investment Options for Greek Permanent Residency What You Can Invest In To qualify for the Greece Golden Visa, the most common route is real estate investment, but it’s not the only one. Depending on your goals, there are a few approved paths, each with its own conditions. Let’s break them down: Real Estate Investment Route This is by far the most popular option. To qualify, you’ll need to invest in residential property with a minimum value based on location: You must purchase a single property of at least 120m². Some exceptions apply for commercial-to-residential conversions and heritage properties. Note: The property can’t be used for short-term rentals (like AirBnB) or commercial headquarters if converted from commercial use. Learn more about the Greece Golden Visa property criteria here. Business Investment Options Although less common, you can also gain residency by investing in or starting a business that creates jobs or contributes economically to the country. This route is less defined in terms of capital thresholds and is usually handled on a case-by-case basis. This path is more hands-on, but it may suit those who want to actively live and work in Greece long term. If you're considering entrepreneurship, it’s best to consult with legal experts to structure the investment properly. Government Bonds and Financial Instruments There are currently limited or paused options for investing in government bonds or financial products as a path to residency. Greece previously considered financial instruments like bonds or shares, but real estate remains the main and most reliable route in 2025. Requirements for Greece Golden Visa Who Can Apply and What You’ll Need to Prove While the investment is a big part of qualifying, it’s not the only thing. To apply for the Greek Golden Visa, there are a few basic personal and legal requirements that every applicant must meet. The good news? They’re pretty straightforward compared to many other EU residency programs. Financial Requirements You’ll need to show: Proof of sufficient funds to make the full investment Confirmation that the funds are legally sourced (bank statements, sale contracts, etc.) Full payment for the property, not mortgage-based financing Greece doesn’t allow financing the investment through loans or credit. The money must come from you or a verified legal source (inheritance, business sale, etc.). Documentation Needed Here’s a typical list of what you’ll need to prepare: Valid passport Proof of real estate purchase (contract, title deed, tax ID) Proof of funds and source Health insurance covering Greece Clean criminal record from your country of origin Marriage/birth certificates for family members included Your legal representative or advisor (like Savory & Partners) will guide you through notarized translations and certified copies as needed. Tip: Need a more detailed list of documentation and other permit types? Read more about the different types of residence permits in Greece Health Insurance Requirements You must have valid health insurance for yourself and your dependents that’s accepted in Greece. This can be international private insurance or a local Greek policy, as long as it covers emergency care and hospitalization. Clean Criminal Record Every adult applicant must provide a police clearance certificate from their country of residence (and/or citizenship) showing no criminal convictions. This is part of the due diligence process and must be recent, usually no more than 3–6 months old. Application Process for Greek PR Step-by-Step Process Applying for Greek permanent residency through the Golden Visa isn’t complicate, but it does involve a few key steps, including document collection, legal review, and an in-person appointment. Here’s how the process usually works from start to finish: Step 1: Initial Preparation Before anything is submitted, you’ll need to: Choose and secure a qualifying property Open a Greek bank account (required for payment) Obtain a Greek tax number (AFM) Sign a power of attorney if you’re working with a local lawyer or advisor Most applicants work with an authorized agent who can handle a lot of this on their behalf. Step 2: Document Collection This is where you’ll gather and prepare everything: Identity documents Proof of investment Proof of payment Health insurance Legal translations of all non-Greek documents Criminal background checks Family documents (if applying with dependents) Need help collecting and organizing these? Savory & Partners provides a full document checklist and expert support Step 3: Application Submission Once everything is ready, your legal representative submits your file to the Greek authorities. You’ll then receive a receipt of submission, which acts as a temporary residence permit while your application is being reviewed. If you're already in Greece at this point, you're allowed to stay legally with this receipt. Step 4: Biometrics Appointment Next, you’ll need to visit Greece in person for biometrics. This includes: Fingerprinting ID photo Signing official forms This step is mandatory for all adult applicants and is scheduled after the initial review of your file. Step 5: Processing Timeline On average, approval takes around 3 months from the time of submission. The speed can vary slightly depending on: The location of the property The time of year (summer slowdowns are common) How complete your documentation is The best part? You don’t have to live in Greece while your application is processed. One short trip for biometrics is enough. Benefits of Greek Permanent Residency What You Actually Gain from the Program Getting Greek PR comes with real, day-to-day advantages that make life (and travel) easier. Whether you're planning to live in Greece full-time, keep it as a backup plan, or use it as a base to explore Europe, the benefits are wide-reaching. Travel Across the Schengen Zone One of the biggest draws is visa-free movement across 29 Schengen countries. Once you have your Greek residency card, you can travel through most of Europe without needing a new visa every time. That includes countries like France, Germany, Italy, and Spain. It’s ideal for those who travel frequently, spend part of the year abroad, or want flexibility without borders. Residency for the Whole Family The Golden Visa isn’t just for the main applicant. It also includes your spouse, children under 21, and even dependent parents. Everyone on the application gets the same residency rights, access to healthcare, education, and the ability to live legally in Greece. That makes it a solid long-term option for families looking for a safe and affordable base in Europe. A Path to Citizenship (If You Choose to Stay) If you eventually decide to settle full-time, the Golden Visa can lead to Greek citizenship, but it’s not automatic. You’ll need to live in Greece for seven consecutive years, pass a language and culture test, and meet a few integration requirements. For many, this isn’t the goal, but it’s good to know the option is there. Work and Business Rights in Greece Your residency lets you set up a business or become a self-employed professional in Greece. While the visa doesn’t allow you to work as an employee right away, it does open doors for entrepreneurship and local investments. Plus, children can attend local schools, and you gain access to public health services if you choose to use them. If your goal is to live more slowly, spend time by the sea, or enjoy a lower cost of living, this program makes that possible. Here’s what it looks like to retire in Greece using the Golden Visa. Living in Greece as a Permanent Resident Once your permit is approved, you’re not just a visitor, you’re legally allowed to live in Greece year-round, whether you choose to or not. And while there’s no requirement to relocate, many people eventually do, either full- or part-time, for the lifestyle, healthcare, and tax benefits. Here’s what you can expect: Healthcare Access As a permanent resident, you’re eligible to access Greece’s public healthcare system, which is widely available and affordable. Many residents also choose to maintain private health insurance, either local or international, for more flexibility, especially in urban areas. If you plan to live in Greece or spend extended periods there, it’s smart to review your healthcare coverage options based on your age, family needs, and whether you plan to enroll in the public system long-term. Education System Greece offers a mix of public and private education. Permanent residents can enroll their children in public schools for free, and there are also many private and international schools, especially in cities like Athens and Thessaloniki. For university-level education, PR holders can apply under the same conditions as Greek citizens, often with lower tuition fees than non-EU students. Tax Implications Owning property or living in Greece may trigger tax residency, depending on how much time you spend in the country or how your global income is structured. It’s important to understand when you’d be considered a tax resident and what that means for your income, assets, or pension. Here’s a full breakdown of Greek tax rates and residency rules You don’t automatically become a tax resident just by holding a Golden Visa, but you might if you live there for more than 183 days a year. Property Rights and Ongoing Costs As a property owner, you’re entitled to the same ownership rights as Greek nationals. You can live in your home, rent it out long-term, or use it seasonally. Just keep in mind: short-term rentals (like Airbnb) are not allowed under the Golden Visa, especially in the major investment zones. There are also annual property taxes and maintenance fees, so it’s worth budgeting for that even if you don’t live there full-time. Maintaining Greek Permanent Residency What You Need to Keep Your PR Active Getting Greek permanent residency is relatively easy but keeping it valid does come with a few conditions. The good news? They’re minimal and mostly tied to holding onto your investment. Here’s what you need to know to stay compliant. Renewal Requirements The Greek Golden Visa is valid for 5 years and is renewable indefinitely, as long as you still meet the original requirements. That means: You still own the property (or other qualifying investment) You still have valid health insurance Your criminal record remains clean Renewals don’t require language tests, physical presence, or any new investment. The process is mostly paperwork and can be handled by your legal representative. Physical Presence Rules Unlike many residency programs, Greece does not require you to live in the country to maintain your residency. There’s no minimum stay requirement, you can come and go as you please. However, if your goal is citizenship down the line, then you’ll need to live in Greece full-time for 7 years. Investment Maintenance Your real estate (or alternative investment) must remain fully under your ownership. If you sell it, the residency permit is no longer valid, unless the new property you purchase also qualifies under the current investment rules. This is one of the main compliance points. So, if you plan to restructure or sell assets, make sure you’re still meeting the program’s legal criteria. FAQs about Greece Permanent Residency Can I finance the property or use a loan? No. Greece requires the investment to be made in full, with funds that can be traced to a legal and personal source. Bank financing or mortgages don’t qualify for the Golden Visa. Can I include my adult children? Yes, but only if they’re under 21 years old and financially dependent. Children who are older must apply separately. You can also include dependent parents of both the applicant and their spouse. How long does the process really take? Once your documents are in and your property is secured, approval usually takes about 3 months. The timeline can vary depending on the time of year and how quickly you gather your documents. Can I rent out the property? Yes, but only long-term leases are allowed. Short-term rentals (like Airbnb) are not permitted under the Golden Visa program, especially in high-demand zones like Athens or Mykonos. Do I become a Greek tax resident? Not automatically. You only become a tax resident if you spend more than 183 days a year in Greece. If you stay under that limit, your global income is not taxed in Greece, but always check with a tax advisor for your specific case. Can I apply for a different type of residence permit later? Yes, some applicants start with the Golden Visa and later switch to other permits, especially if they plan to work, study, or retire full-time in Greece. References Ministry of Migration and Asylum. (2024, March 31). Entry into force and implementation of the new Migration Code (Law 5038/2023). Retrieved from https://migration.gov.gr/en/enarxi-ischyos-kai-efarmogis-toy-neoy-kodika-metanasteysis-n-5038-2023/ Ministry of Migration and Asylum. (n.d.). Golden Visa. Retrieved July 11, 2025, from https://migration.gov.gr/en/golden-visa/ Enterprise Greece. (2024, February). News in Brief – February 2024. Retrieved from https://newsletters.enterprisegreece.gov.gr/newsletter-articles/news-in-brief-february-2024/