Everything you need to know about Greek Golden Visa Law
The Greek Golden Visa Law outlines the criteria for issuing residence permits to international investors in Greece. This law offers a cost-effective and adaptable program for investors and their families seeking residency through investment or a second passport. This program is particularly attractive for those interested in regions such as Corinthia, the Peloponnese, and the island of Zakynthos.
What is Golden Visa
Several nations have implemented Residency by Investment (RBI) programs to encourage foreign nationals to invest in their countries. These programs, often referred to as "Golden Visas," grant residency privileges, typically with minimal residency requirements, in return for designated investments in property or financial assets. Greece, along with other EU countries, provides this opportunity to Non-EU citizens, including investments in popular areas such as Corinthia, the Peloponnese, and Zakynthos.
Golden Visa in Greece
As of January 1st, 2025, the Greek Golden Visa program has updated its minimum investment requirements:
• €800,000 for real estate purchases in high-demand areas such as Athens, Thessaloniki, Mykonos, Santorini, islands with populations exceeding 3,100 residents, like Zante.
• €400,000 for properties in other regions of Greece, including parts of the Peloponnese, like Corinthia.
Investors are now required to purchase a single property with a minimum area of 120 square meters. Additionally, properties acquired under the Golden Visa program cannot be used for short-term rentals (e.g., Airbnb) and must comply with long-term leasing regulations. Violations may result in the revocation of the residence permit and administrative fines.
Key Advantages in Acquiring a Greek Golden Visa
Lifetime renewal, as long as you maintain the investment
Permanent residence permit in Greece
No minimum stay or visit requirement
Visa-free movement in more than 30 European countries
Residency for 3 generations of investors
This makes investing in regions such as Corinthia, the Peloponnese, or Zakynthos attractive for families seeking a Mediterranean lifestyle.
The criteria for eligibility for a Golden Visa are divided into four distinct categories.
1. Applicants
2. Investment
3. Execution
4. Processing
What you should know beforehand about Golden Visa Law
- The investment for the Golden Visa must be made directly under the name of the investor and the main applicant. If the investment is through a legal entity, the individual applying for the Golden Visa must own all the company shares. Investments via offshore or non-EU companies are not eligible for the Golden Visa in the context of real estate.
- Joint investment is acceptable only for real estate. However, each investor must reach the minimum investment threshold to qualify for a Greek Golden Visa (for example, two friends can jointly purchase a €800,000 property in Loutraki, Corinthia, or €1,600,000 in Zakynthos and both families will be eligible).
- • In the case of spouses, they are both eligible for a residence permit if they jointly invest the minimum amount (such as €400,000) in property. This joint investment exception for spouses does not extend to financial investments.
- It is feasible to switch from a Golden Visa via term deposits or other financial avenues to one via real estate, or vice versa, without forfeiting residency rights.
How Long Does the Golden Visa Last?
The residence permit is practically granted for a lifetime, with consecutive 5-year renewals.
There is no limit to how many times a residence permit can be renewed, provided that the applicant maintains full ownership and possession of the minimum required investment (real estate or financial assets). There is no minimum-stay requirement, meaning that Golden Visa holders are not obligated to reside in or even visit Greece to retain their residency status. However, it is required to return every five (5) years to update biometric data.
How Long Does the Process Take?
The timeframe to receive the Golden Visa, as defined by law, is approximately two (2) months following the submission of biometric data.
The time needed to complete the investment may vary depending on the nature of the selected investment and the specific property or financial product involved. This can vary in regions like the Peloponnese or Zakynthos due to local market conditions. Upon submission of the Golden Visa application, the applicant receives a same-day certificate confirming the application, which serves as a temporary residence permit. Biometric data can be provided at any point within the next 12 months after application submission.
More FAQs About Greek Golden Visa
Yes. As of January 1st, 2025, the new minimum investment thresholds are €800,000 and €400,000 depending on the region.
A transitional period was granted until December 31, 2024, under specific conditions. As of 2025, the new limits are fully in effect.
Currently, no broad exceptions are provided. All applicants must meet the regional investment thresholds. Restoration of listed buildings: In case the Golden Visa property is located in listed buildings (i.e. buildings with historic interest under special protection) that are to be fully restored or reconstructed by the Investor, the minimum threshold remains 250,000 EUR, regardless of the location and the size of the property. The above investment is carried out on a single property, and the full restoration is a prerequisite for the first renewal of the golden visa after five (5) years. The property cannot be sold until restoration is complete. Failure to restore will result in a revoked residence permit and a 150,000 EUR administrative fine.
Yes. Non-EU citizens are permitted to purchase property, and doing so is the primary route to Golden Visa eligibility, including popular regions like Corinthia, the Peloponnese, and Zakynthos.
If the property is sold and the new owner does not qualify for the Golden Visa or the investment falls below the required threshold, the residence permit will be revoked.
Yes. Children of Golden Visa holders are allowed to attend Greek public schools.
While not legally required in all cases, hiring a lawyer is strongly recommended to ensure legal compliance and due diligence. This is especially important in areas like the Peloponnese and Corinthia.
Buyers are subject to transfer tax, notary fees, registration fees, and potentially VAT (if applicable to new constructions).
It includes a due diligence check, signing a preliminary agreement, transferring funds, and concluding the final contract before a notary.
It is the authority that registers property ownership and encumbrances. All transactions must be recorded there to be legally valid.
Yes. Specific building codes, land use regulations, and coastal or forest protection laws may apply. A lawyer or engineer should verify this, especially in sensitive areas such as parts of the Peloponnese and Zakynthos.
Mortgages are typically available only to residents or EU citizens. Non-EU applicants generally need to finance the purchase independently.
Depending on the type of rental (short-term vs. long-term), you may need to register with the tax authority or tourism body. Note: Properties under the Golden Visa scheme cannot be used for short-term rentals like Airbnb.
In addition to the Golden Visa, some regions may offer incentives such as reduced property tax for specific developments or energy-efficient buildings. This can include areas in the Peloponnese and Corinthia.
Disputes may be resolved through Greek courts or mediation. Hiring a qualified real estate attorney helps minimize legal risks and resolve issues efficiently.
Our Real Estate & Golden Visa Legal Services
Advisory Services
Providing advice on the legal and tax requirements of the specific country's Golden Visa program.
Real Estate Due Diligence
Conducting legal due diligence on properties to ensure there are no legal issues or encumbrances that could affect the investment.
Drafting & Negotiating Contracts
Assisting in the drafting and negotiation of real estate purchase contracts.
Transaction Management
Guiding through the property purchase process and ensuring all legal requirements are met.
Taxation Advice and Post Purchase Support
Offering advice on potential tax implications related to property purchase and Golden Visa acquisition.
Assistance with Golden Visa Application
