PLEASE NOTE: Law 5007/2022, the new piece of legislation that doubles the required purchase amount for the Greek Golden Visa in certain regions, is now in force.
WE HAVE ACCESS TO QUALITY REAL ESTATE STOCK: PRICED FROM €258K – €300K+
IMPORTANT: As of August 1, 2023, the minimum Golden Visa purchase requirement for properties located in Athens and Thessaloniki’s centres, as well as in Mykonos and Santorini increased from €250K to €500K…To find out more about the areas impacted by the price increase, get in touch.
Greece Golden Visa Program: Everything You Need To Know
As of 1 August 2023, Greek Golden Visa applicants can choose between the following program price points:
-
€250K: Real Estate Purchase, 10 Year Lease or Time Share Agreement, OR €500K Real Estate
-
€400K: Term Deposit, Real Estate Investment Company, VC Company, Greek Treasury Bonds, Mutual Fund Shares, Alternative Investment Fund Shares
-
€800K: Corporate Bonds Or Shares
Below, we highlight all of the Greek Golden Visa investment options for 2024, and compare the program to one of its key competitors, the Portuguese Golden Visa program (€200K Cultural GV and €280K Property GV options).
What are the Greek Golden Visa options for 2024?
GREEK REAL ESTATE – ANY TYPE, ANY AGE
€250,000+ (~$249,000) OR €500,000+ (~$498,000), based on location
10 YEAR REAL ESTATE LEASE AGREEMENT
€250,000+ (~$249,000)
CAPITAL CONTRIBUTION TO VENTURE CAPITAL COMPANY
€400,000+ (~$398,000)
TERM DEPOSIT – GREEK CREDIT INSTITUTION
€400,000+ (~$398,000)
CAPITAL CONTRIBUTION TO REAL ESTATE INVESTMENT COMPANY (REIC)
€400,000+ (~$398,000)
PURCHASE OF CORPORATE BONDS OR SHARES
€800,000+ (~$796,000)
PURCHASE OF GREEK TREASURY BONDS
€400,000+ (~$398,000)
PURCHASE OF MUTUAL FUND SHARES
€400,000+ (~$398,000)
PURCHASE OF ALTERNATIVE INVESTMENT FUND (AIF) SHARES
€400,000+ (~$398,000)
NOTE: More than 95% of all locations in Greece remain unaffected by the recent price increases.
The new pricing changes are similar to the those implemented to the Portuguese Golden Visa program at the end of 2021, which exclude residential properties in Lisbon, Porto, the Algarve region, etc.
These legal changes are outlined in the ‘Amendment – Addition’ of the Permanent Residence of Investor (Golden Visa), paragraph B of Article 20 of the law “ 4521/2014 (Α’ 80)‘’, and stipulates that the price increase will apply to the following locations:
- The North, South and Central Sectors of Athens
- The Municipality of Thessaloniki in Macedonia
- The Municipal Suburbs of Vari, Voula and Vouliagmeni in Attica
- The regions of Mykonos and Santorini islands.
Therefore, the price increase will NOT apply to the overwhelming majority of Greek areas, outside of its core areas and top tourism destinations.
Greek Golden Visa (incl. 2023 program pricing changes) vs Portuguese Golden Visa Options (2023 – Cheapest Property & Cultural Production Options)
Comparative tables best viewed on desktop.
| Program Consideration | Greece Golden Visa – Property 2023 | Hungarian Golden Visa 2023 | Portugal Golden Visa – 280K Property – 2022/2023 | Portugal Cultural Production Golden Visa – 2022/2023 |
|---|---|---|---|---|
| Program pricing | €250K (Any property, of any age, outside of Athens and Thessaloniki); OR;
€500K (Any property, of any age, in some areas of Athens and Thessaloniki, and in Santorini and Mykonos. Starting from July 31st, 2023) |
€150K completed residential property. Minimum eligible size dependent on family composition.
€30K government processing, and €30K professional service fee per family. (Additional €10K per additional adult dependent) |
€280K (Qualifying properties, older than 30 years, situated in low density areas (NUTS III), e.g. outside of Lisbon, Porto, the Algarve and most of the coastal areas of Mainland Portugal); | €250K (Standard Rate Cultural Production Projects – Urban Areas);
OR; €200K (Reduced-rate Cultural Production Projects – Low-Density Areas). |
| Typical yield | 2-4% | N/A – property cannot be rented out. | 1.5-2.5% p.a. | 4% p.a. (Guaranteed) |
| Minimum hold period | 5 years | 5 years | 5 years | Typically 5 years, but earlier exit possible (subject to penalty). |
| Legal basis / Official program guidance | Greek “Golden Visa” Law 4251/2014 – Permanent Residency Permit for Investors | Hungarian Law II of 2007 | Ordinance No. 305-A / 2012;
Regulatory decree No. 84/2007; |
|
| Application submitted by government entity | No | No | No | Yes |
| Typical application timeline to | 3-4 Months | 6-8 weeks | 12-18 Months | 10-12 Months |
| Path to permanent residency / citizenship | Yes | No | Yes | Yes |
| Minimum in-country presence requirement | None | None | On average 7 days per year during temporary residency period (first 5 years) | On average 7 days per year during temporary residency period (first 5 years) |
| Language testing requirement for temporary residency | No | No | No | No |
| Family eligibility | Yes | Yes | Yes | Yes |
| Timeline to citizenship and a passport | After 7 years | N/A | After 5 years | After 5 years |
| Health insurance required | Yes | Yes | Yes | Yes |
| Government pre-approval step before capital is committed | No | Ye | No | Yes |
| Local tax number required | Yes | Yes | Yes | Yes |
| Start process from home | Yes | Yes | Yes | Yes |
| Are Russians currently eligible to apply? | No | Yes | No | No |
| Local employment allowed? | No, unless you set up your own business | No | Yes | Yes |
| Can I pay for this Golden Visa using crypto? | No | No | Yes (convert your crypto to fiat via Bison Bank) | Yes (convert your crypto to fiat via Bison Bank) |
| Visa-free travel access to Schengen Area? | Yes | Yes | Yes | Yes |
| Language and /or cultural exam required for naturalization? | Yes (The Panhellenic exam is conducted in Greek, with a minimum required pass rate of 80% to obtain the “Certificate of Adequacy of Knowledge for Naturalization (PEGP)”. | N/A | Yes (Portuguese A2 Level CIPLE exam – Certificado Inicial de Português Língua Estrangeira. No cultural knowledge test applicable) | Yes (Portuguese A2 Level CIPLE exam – Certificado Inicial de Português Língua Estrangeira. No cultural knowledge test applicable) |
| Government pre-approval step | No | Yes | No | Yes (GEPAC – Portuguese Ministry of Cultural Affairs) |
| Principal guaranteed | Generally not | Generally not | Only on some options | Yes |
| Residency permit validity | 5 years | 5 years (primary applicant), and 3 years (dependents) | 2 years (first permit), then 3 years (second permit) | 2 years (first permit), then 3 years (second permit) |
| Minimum means of subsistence requirement | No | Yes: €27,000 in savings for main applicant, and €16,000 each per dependent. | No | No |
Benefits of The Greek Golden Visa program
To date, over 10,000 Golden Visa applicants chose the Greek program as their Plan B…
☑ ENJOY EU (SCHENGEN) VISA-FREE TRAVEL
Enjoy freedom of movement across the entire Schengen area.
☑ DIVERSIFY YOUR REAL ESTATE HOLDINGS
Benefit from exposure to the thriving Greek property market in 2023 and beyond.
☑ GET THE FASTEST EUROPEAN GOLDEN VISA
Get your flexible Greek Plan B residency in just 3 to 4 months
☑ NO MINIMUM STAYS
Unlike with Portugal’s Golden Visa, there are no in-country presence requirements with the Greek Golden Visa.
☑ ENJOY HIGH ROI
Greek properties in Athens and Thessaloniki can deliver yields of 4-6%.
☑ FAMILY ELIGIBILITY
Bring your spouse, your children under 18, and both your sets of parents.
The Greece Golden Visa application and renewals process at a glance
See what our clients say on TrustPilot.
-
Contact us and book a discovery call with your case consultant
-
Sign term sheet and commence application process
-
Initial client due diligence screening
-
Purchasing of real estate / eligible capital transfer
-
Compilation of client case file and supporting documentation
-
Submission of client application to the Greek authorities.
-
Receipt of approval notification, and residency cards issued.
-
Renewal of residency card every 5 years, OR citizenship application after year 7.
Why choose to work with us?
✓ A track record of success – over 3,000 Greek Golden Visa clients successfully assisted without a single rejection.
✓ A leading team of Greek immigration professionals – 7 languages spoken.
✓ A 1-stop shop for Greek immigration services: Greek Golden Visa program applications, Greek FIP Visas, and assistance in identifying and buying property in Athens and Thessaloniki.
✓ Trusted ancillary service provider relationships in Athens and Thessaloniki.
What our clients are saying about us…
Secure your Plan B with a Greek Golden Visa from only €250,000. Contact us now to learn more.
Simply complete the below form and one of our expert consultants will get back to you.We look forward to being of service and helping you make your Portuguese Plan B dreams a reality.
Greece Golden Visa overview for 2024 compiled by…
Andre Bothma
Author
Born in Cape Town, South Africa, Andre is a seasoned digital entrepreneur with extensive experience working in the demand-side of the Residency and Citizenship By Investment industry. He has been writing about Golden Visas, Citizenship By Investment and investment migration programs for over six years, and has frequently written and been interviewed by industry-leading RCBI publication, IMIDaily.com. Andre is a D7 Visa holder and Portuguese resident himself. Having identified a gap in the market for affordable European immigration solutions outside of Golden Visas, he launched D7 Visa to help more foreign individuals and families settle in Europe without the need for property investment. Andre is a regular contributor to the pages of Sovereign Research, a leading international diversification publication catering to a global audience. He is also one of the earliest global promoters of the HQA Visa Program and the Cultural Golden Visa program. Andre spends half his time in Porto, Portugal.
email