Greece Golden Visa Program: Requirements and Application Process

With the minimum investment amount of EUR 250,000, Greece’s Golden Visa is one of the most affordable residence programs in the EU. It allows free travel to other Schengen countries and offers investors the prospect of eventually obtaining EU citizenship.

In this article, we’ll explain how the Greek Golden Visa works, the types of investments eligible for the program, and the application process. We’ll also examine the path to gaining Greek citizenship for residents.

Greece’s Golden Visa Program Overview

Initially created to facilitate residence permit acquisition for real estate investors, the Greek Golden Visa has since been expanded to accept investors in other types of qualifying financial investments. The additional investment opportunities include businesses, the stock market, government bonds, and even bank deposits. 

Some of the benefits of the Golden Visa include:

• A five-year residency in the country (for most categories)
• The ability to renew the permit indefinitely
• Dependents’ residency under Family Reunification
• No minimum stay requirement

To be eligible for a residence permit under the program, you need to make a qualifying investment and meet certain general requirements. Once you’re granted a permit, you have to maintain the conditions of your investment for the duration of the residency, or it will be revoked. 

Bonus read: Interested in learning about other countries’ investment programs? Check out our guides on Panama citizenship by investment, Dubai Investor Visa, Portugal Golden Visa, and Cyprus citizenship by investment. 

Greece’s Golden Visa Requirements by Investment Category

When applying for a Golden Visa, you have to meet the requirements under one of its investment categories:

1. Real estate investment
2. Financial investment 
3. Company executive deployment
4. Business establishment and operation 
5. Start-up investment 

Real Estate Investment Requirements 

To be eligible for a Golden Visa as a real estate investor, your property has to meet the following investment requirements:

Type of Property	Minimum Value
Located in high-demand areas such as Attica, Thessaloniki, Mykonos, Santorini, and islands with more than 3,100 inhabitants	EUR 800,000
General property in any other location in the country	EUR 400,000
Property that needs restoration, and property converted to residential, including industrial properties that haven’t been used in the past five years	EUR 250,000

You can acquire the property in one of four ways: 

1. By purchasing it personally or co-owning it with your spouse (in which case the value of the whole is used to determine the minimum value) or a partner (in which case, the value of your share has to meet the minimum value requirement)
2. By purchasing it through a Greek or EU company that you own completely
3. By entering into a long-term lease agreement for integrated tourist accommodation, or a timeshare agreement
4. By inheriting it, having it bequeathed to you, or given to you by your parents

Greece’s Golden Visa residence permit for real estate investors comes with certain limitations, including:

• Not being able to seek employment in Greece while holding a Golden Visa residence permit 
• Losing the residence permit if you sell the property
• Getting fined, as well as losing the permit if you use the property for short-term rentals or a business office, or if you sublease it

Financial Investment Requirements

You might be eligible for a Golden Visa if you want to make a financial investment in Greece and the investment is made in one of the following categories:

Type of Investment	Minimum Value
Shares or bonds in a company headquartered in Greece, or a Real Estate Investment Company that invests solely in Greece	EUR 500,000
Shares in a Capital Venture Company or units in a Venture Capital Mutual Fund that exclusively intend to invest in Greece	EUR 500,000
Government bonds with a remaining maturity of at least three years	EUR 500,000
Fixed-term deposit at a local bank, with at least a one-year term and a renewal order	EUR 500,000
Shares or corporate or government bonds traded on the Greek securities market and purchased through an investment firm operating in the country	EUR 800,000
Units in a mutual fund that invests exclusively in Greek-listed shares or bonds, with assets of at least EUR 10 million, and a license in its country of founding	EUR 350,000
Units of shares worth at least EUR 350,000 in a Greek– or EU-licensed Alternative Investment Fund that invests only in Greece and has assets of at least EUR 3 million	EUR 350,000

You have to make the investment with funds originating from abroad. If you’re investing through a company, you can get residence permits for up to three people, depending on the value of the investment. The permit also gives you a two-month window to liquidate your investment and reinvest it in a financial or real estate investment.

Company Executives Deployment Requirements

If you’re a shareholder in a Greek company (or a Greek subsidiary of a foreign company), or if you serve as an unpaid board member, legal representative, or manager, you can apply for the Golden Visa by meeting any of the following conditions:

• You own at least a third of the shares in the company and have made a EUR 500,000 contribution to it
• You hold at least EUR 500,000-worth of shares in a Greek company traded on regulated markets
• The company at which you’re an executive is commercially active in the country and has at least EUR 4 million in turnover in the last financial year

Business Establishment and Operation Requirements

If you plan to establish a company in Greece, you may be awarded a residence permit if you:

• Plan to invest at least EUR 500,000 in the company 
• Are able to secure a recommendation from the Directorate of Foreign Direct Investments of the Ministry of Development 

You can be awarded up to three residence permits for personnel necessary to establish and operate a company if you make the investment through a legal entity. The permits may be granted to members of the board of directors, managers, legal representatives, or partners in the legal entity with an ownership stake of at least 33%.

Similarly, you might get a residence permit if you’re a part of the management or a shareholder in a company that was deemed a strategic investment vehicle by the General Directorate of Strategic Investments of the Ministry of Development and Investments. The recommendation from the Directorate is the only requirement for a permit under this category, and it is limited to five members of the strategically important company. 

Start-Up Investment Requirements

As an investor in a Greek start-up, you may be eligible for a Golden Visa if the following conditions are met:

• Your investment is at least EUR 250,000, giving you up to 33% company ownership
• The company has to create at least two new jobs in the first year from the investment, maintaining the pre-investment jobs for at least five years from the investment 

The permit acquired under this program is valid for one year with two-year extensions. You will need to hold the investment for five years, after which you can sell your share and reinvest in any of the Golden Visa categories within two months. In case of a bankruptcy, you will have to make a new investment within two months to keep your residence permit.

How To Apply for a Greek Golden Visa

After choosing a Golden Visa program that matches your goals and circumstances, the application steps you should follow include:

1. Find the right investment vehicle
2. Gather the necessary documents
3. Submit the application and pay the fee
4. Maintain your investment and apply for renewal

1. Find the Right Investment Vehicle

The Golden Visa program, especially the real estate and financial investor categories, offers some variety regarding the type of investment you can make. Consider the pros and cons of each before narrowing down on the specific property or vehicle: 

Type of Investment	Pros	Cons
Property that needs restoration	Lowest cost of entry	Potential additional costs for renovations
Property in high-demand areas	Good potential for return on investment and appreciation	High cost of entry
Fixed-term deposit	Safe and easy to execute	Low potential for a return
Mutual fund investment	High liquidity and potential return	Prone to market risks, potentially high ongoing fees

Whichever type of investment you choose, it is essential to consult a reputable service provider knowledgeable of international investments and the Golden Visa program.

2. Gather the Necessary Documents

The documents required for every type of investment include:

• Certified copy of a valid passport or other travel document recognized by Greece
• Four recent passport-style photos of yourself and a digital copy
• A contract with an insurance company showing you have health and safety insurance

Every program-specific requirement must also be supported by appropriate documentation. Some examples include:

• Statements from financial institutions (banks, investment funds, credit institutions) confirming that an investment has been made
• Bank statements showing the existence of accounts and available funds
• Purchase agreements for real estate
• Proof of property transfer registration
• Time share contracts

3. Submit the Application and Pay the Fee

You can fill out an application form and submit your application for a Golden Visa online on the Ministry of Immigration and Asylum’s portal. You will be asked to pay a EUR 16 electronic residence printing fee, and you’ll also have to pay the EUR 2,000 government application charge regardless of your category. 

4. Maintain Your Investment and Apply for Renewal

You have to keep ownership over your investment or liquidate it and reinvest according to category specifications for the duration of your permit. Failure to do so might result in the revocation of the permit, a denial of permit renewal, and administrative fines. 

If you decide to apply for a permit renewal, you can do so in the same way you applied for the original permit. The biggest difference is that you’ll typically need to submit fewer documents, as many of them will be replaced by a certificate proving that you’re maintaining your investment.

Does Holding a Greek Golden Visa Help With Citizenship Requirements?

Having a residence permit, such as the one issued to you as a Golden Visa applicant, is one of the requirements when applying for naturalization. For an investor, naturalization is the only path to citizenship, since there is no Greek citizenship-by-investment program.

As a residence permit holder, you can also meet the seven-year residency requirement for naturalization. This can be shortened to three years if you: 

• Are married to a Greek citizen and have a child with them
• Have a minor child who is a Greek citizen
• Are a refugee or recognized as a stateless person by the Greek authorities

Divorcing the parent of your child after gaining citizenship doesn’t nullify it.

When applying for naturalization, you’ll have to provide your extended residence permit, as well as your passport, an authenticated and translated birth certificate, your personal tax audits, and your Social Security number.

The application process costs EUR 700 for your first application and EUR 200 for any subsequent applications. Refugees and recognized stateless persons are subject to a EUR 100 fee each time they apply. You can expect to receive a decision within two to four years. Securing a residency or citizenship in Greece is a long-term investment in your financial and personal well-being, which is why seeking expert assistance in navigating the process is invaluable. To receive adequate help when choosing the right Golden Visa category and handling the application, contact Nomad Capitalist.

Secure Your Greek Golden Visa With Nomad Capitalist

Nomad Capitalist is an advisory firm that provides expertise in global mobility, citizenship, and investment planning. 

We work with investors and entrepreneurs to evaluate residency and citizenship options, develop investment pathways, and structure our clients’ tax footprint to support long-term wealth protection. 

We achieve the desired results by creating personalized Action Plans detailing our clients’ goals and the exact steps towards reaching them. This approach allowed us to help more than 1,500 individuals expand their international opportunities and meet their financial and lifestyle objectives. 

Here’s what working with us looks like:

1. We ask you to fill out a form to help us determine whether we’re a good fit
2. We schedule a 45-minute onboarding call to learn more about your specific goals and needs
3. Our team develops a specific Action Plan and presents it for approval
4. We implement the Action Plan over a period of up to 12 months
5. You continue receiving ongoing support even after the Plan is implemented

Our experts can help you determine whether the Greek Golden Visa is the best option for your specific situation. If so, we will guide you through the process, ensuring the administrative part is covered and helping you with the remaining steps of your journey to financial freedom. And if not, we’ll help you choose the right pathway to achieving your goals. Reach out to our team today!