Greece Golden Visa

Greece's golden visa is the permanent residence permit for real estate investors, type B.5 under the Migration Code. It goes to nationals of countries outside the EU who buy qualifying property in Greece, and it runs for 5 years at a time, renewable while the property is kept.

Law 5100/2024 raised the investment floor to €800,000 in the most sought-after areas and €400,000 elsewhere, with a lower €250,000 floor for conversions to housing and listed buildings. The permit gives residence, not the right to work.

• Top tier, €800,000: property in Attica, the Thessaloniki regional unit, Mykonos, Santorini and islands with more than 3,100 inhabitants.
• Other areas, €400,000: property anywhere else in Greece.
• Single property: in both tiers the amount must go into one property of at least 120 square meters of main space.
• Conversions and listed buildings, €250,000: a building converted from commercial or industrial use to housing, with the conversion finished before the application, or a listed building to be restored. A listed building can't be resold before its restoration is complete.
• Use of the property: Property bought for the permit may not be let as a short-term rental (sharing economy) or sublet. Long-term leases remain allowed.

The investment must stay in the investor's full ownership and possession for the permit to be renewed. Rules for accompanying family members should be confirmed with the Ministry of Migration and Asylum before applying.

The Ministry of Migration and Asylum's golden visa page lists for a first application:

• Passport: a certified copy of a valid passport or travel document recognized by Greece.
• Health insurance: a policy from a private insurer covering health and safety risks.
• Notary certificate: from the notary who drew up the purchase contract, confirming the parties, the property and how the price was paid.
• Land registry proof: evidence that the transfer was registered with the land registry or cadastre.
• Fees: proof of payment of the electronic permit fee and the card fee.

Renewals need a new application, a passport copy, copies of all passport pages covering the previous permit period, private health insurance and proof that the property is still owned.

• Permit fee: €2,000 for the main applicant, charged again at each renewal.
• Residence card: €16.

The purchase carries its own costs on top of the investment floor, including transfer tax, notary and land registry fees and usually legal fees. They depend on the property and aren't set by the permit rules.

Where to apply: In Greece, after lawful entry on any visa or visa-free, or while legally resident on another permit.

1. Buy the property at or above the floor for its area, paying through the banking channels the law requires, and register the transfer.
2. Enter Greece lawfully on any visa or visa-free, or hold another residence permit.
3. File the application with the documents above and pay the fees.
4. Give biometrics when called, then collect the electronic residence card.

No official processing time is published for real estate investor permits.

• Length: 5 years.
• Renewal: Renewable for another 5 years each time while the property stays in the holder's full ownership (or the qualifying lease stays in force).
• Selling: once the property leaves the holder's ownership, the permit can no longer be renewed on that basis.
• Work: the permit gives no access to any form of work in Greece.

The permit carries no tax treatment of its own, and holding it doesn't make someone a Greek tax resident. Under AADE's summary of Article 4 of the Income Tax Code, residence for tax purposes follows presence of more than 183 days in total in any 12-month period, or a permanent residence, habitual abode or center of vital interests in Greece. Tax residents are taxed on worldwide income.

Investors who don't live in Greece still owe Greek taxes linked to the property, such as tax on any rental income, so buyers should get advice on property and income taxes before committing.