Understanding the Greek Golden Visa Program

Greece's Golden Visa program has become one of Europe's most attractive residency-by-investment schemes. Here's everything you need to know about obtaining Greek residency through property investment.

What is the Golden Visa?

The Greek Golden Visa grants a five-year renewable residence permit to non-EU citizens who invest in Greek real estate. It's one of the most affordable programs in Europe.

Investment Requirements

**Standard Requirement:** €250,000 minimum property investment

Updated Requirements (2024):

€800,000 for properties in Athens center, Thessaloniki, Mykonos, and Santorini

€250,000 for properties in other areas

Multiple properties can be combined to reach the threshold

Key Benefits

For Investors

Five-year renewable residence permit

No minimum stay requirement

Freedom to travel within Schengen zone

Family inclusion (spouse, children under 21, parents)

No language or education requirements

For Families

Access to Greek education system

Healthcare benefits

Safe, high quality of life

EU travel freedom

Application Process

1. **Property Selection:** Work with licensed real estate agency

2. **Due Diligence:** Legal checks and property verification

3. **Purchase Agreement:** Sign preliminary contract

4. **Tax Number:** Obtain Greek AFM

5. **Property Transfer:** Complete purchase and registration

6. **Visa Application:** Submit residence permit application

7. **Approval:** Receive five-year residence permit

**Timeline:** Typically 2-4 months from application to approval

Eligible Property Types

Residential properties

Commercial properties

Land plots

Hotel accommodations

Timeshare agreements (minimum 10 years)

Tax Implications

**Property Transfer Tax:** 3% of property value

**Annual Property Tax (ENFIA):** Varies by location and size

**Income Tax:** Only on Greek-sourced income

Renewal and Citizenship

**Renewal:** Every five years, as long as property ownership continues

**Path to Citizenship:** After seven years of legal residence, you may apply for Greek citizenship (requires physical presence and language proficiency)

Common Mistakes to Avoid

1. Not conducting proper due diligence

2. Choosing property solely for visa, not investment value

3. Underestimating additional costs

4. Not working with licensed professionals

5. Ignoring rental income potential

Working with Real Estate Agencies

Choose agencies that:

Specialize in Golden Visa properties

Provide end-to-end support

Have legal partnerships

Understand tax implications

Offer property management

Is the Golden Visa Right for You?

Consider the program if you:

Want EU residency without relocation

Seek investment diversification

Value Mediterranean lifestyle

Need Schengen travel freedom

Plan family relocation

Conclusion

The Greek Golden Visa offers exceptional value for investors seeking European residency. With proper guidance from experienced real estate professionals, you can navigate the process smoothly and secure your Mediterranean future.

**Ready to explore Golden Visa properties?** Connect with our featured agencies specializing in investment properties.