Greece Golden Visa frequently asked questions

Non-EU nationals aged 18 or older can qualify for the Greece Golden Visa if they pass Due Diligence and confirm the legal origin of their funds.

This section provides answers to key questions about eligibility for the Greece Golden Visa. It covers who can apply, the special €250,000 route, which family members can be included, and when buying a home in Greece can lead to residency.

What is a Greece Golden Visa?

The Greece Golden Visa is a residence-by-investment program that allows non-EU nationals and their families to obtain a five-year renewable residence permit by making a qualifying investment in Greece. Most commonly, this involves purchasing real estate, but other eligible options include investing in Greek funds, government bonds, or placing a fixed-term deposit in a Greek bank.

The Golden Visa offers visa-free travel within the Schengen Area, access to healthcare and education in the country, and the right to include up to three generations of family members in one application. There is no obligation to live in Greece, but those seeking Greek citizenship must reside in the country for at least seven years.

Immigrant Invest offers access to carefully selected and exclusive real estate opportunities in each investment tier. We only collaborate with vetted developers and ensure each project passes a rigorous legal and quality assessment before being offered to clients. This reduces risk and ensures compliance with Greek Golden Visa regulations.

The €250,000 Golden Visa option is a special category under Greece’s residence-by-investment program, available only in limited and strictly defined cases following the 2024 legal amendments.

An investment of €250,000 in real estate qualifies for a Golden Visa only if one of the following conditions is met:

1. The property is a listed heritage building undergoing full restoration.
2. The property is a commercial or industrial space unused for over five years, fully converted into residential use, with all change-of-use approvals obtained before submitting the residence permit application.

This lower threshold is no longer available for general residential properties as in the past. Investors must be cautious: failure to meet the strict documentation and approval requirements can lead to application rejection or future cancellation of the residence permit.

Who is eligible for the Greece Golden Visa?

Any non-EU or non-EEA national aged 18 or older can apply for the Greece Golden Visa, provided they have no criminal record and can prove the legal origin of their funds. Applicants must pass a government Due Diligence check.

At Immigrant Invest, we conduct our own preliminary Due Diligence before submitting any application — a step performed by a certified Anti-Money Laundering Officer. This internal screening helps identify and resolve potential risks in advance, resulting in a 99% approval rate for our clients. The check takes just one day and is confidential.

What is a 10-year residence permit in Greece?

A 10-year residence permit in Greece is typically issued in non-investment categories, such as long-term residents, individuals of Greek descent, or family reunification cases. It is not part of the Golden Visa, which issues residence permits valid for 5 years at a time. 

Which family members can I include in my Golden Visa application?

The main applicant may include in Greece Golden Visa application:

• spouse; 
• partner, including a same-sex partner, with the cohabitation agreement signed by a Greek Notary Public;
• unmarried children under 21;
• both sets of parents, without needing to prove financial dependence.

Are children over 21 eligible?

No, children over 21 are not eligible for inclusion in a Greece Golden Visa application. Only unmarried children under 21 may be included. This applies to both the main applicant’s biological or adopted children and the partner’s children, provided the main applicant has legal custody in the latter case.

Children aged 21 or older must apply independently and cannot be considered dependants under the same application.

Can you get residency in Greece if you buy a house?

Yes, buying a property in Greece can make you eligible for a residence permit through the Golden Visa program, provided the property meets the minimum investment threshold. 

The minimum investment starts at €250,000 for specific reconstruction cases and rises to €400,000 or €800,000, depending on the property’s location. Once the purchase is completed and all documents are submitted, a five-year renewable residence permit is granted.

Greece offers a flexible, family-friendly residency by investment with clear rules and relatively low entry points. In this section, you will find answers about travel rights with a Greek residence card, the overall value of the Greece Golden Visa and its core benefits. 

Can you travel with a Greek residence card?

Yes, a valid Greek residence permit allows visa-free travel within the Schengen Area. Holders can stay in other Schengen countries for up to 90 days within any 180-day period, but must return to Greece after that. 

The card also guarantees unrestricted re-entry into Greece, even during border closures or travel restrictions. However, it does not replace a passport and must be carried together with a valid travel document.

Is a Greece Golden Visa worth it?

The Greece Golden Visa is considered one of the most attractive residency-by-investment programs in Europe. It offers visa-free travel across the Schengen Area, a five-year renewable residence permit, and the right to include three generations of family members.

What are the benefits of a Greece Golden Visa?

The Greece Golden Visa is one of the most attractive residency-by-investment programs in Europe, offering a combination of lifestyle, mobility, and financial advantages.

Key benefits include:

• five-year residence permit with renewal;
• no need to relocate or pass language exams;
• visa-free travel in the Schengen Area;
• residency for the whole family;
• access to Greek healthcare and banking;
• potential rental income;
• pathway to citizenship after seven years;
• favourable tax options for high-net-worth individuals.

Do Golden Visa holders have access to public healthcare in Greece? What is required?

Yes, holders of the Greece Golden Visa can access the public healthcare system, which offers a wide range of services, including primary care, specialist consultations, hospital treatment, and subsidised medication.

To access the system, it is necessary to:

1. Obtain a Social Security Number.
2. Contribute to the Greek social insurance system, typically through voluntary registration if not employed.

Greece consistently ranks among the top retirement destinations. The average life expectancy in Greece is about 82.4 years, positioning it among the countries with higher longevity globally and slightly above or close to the European Union average.

Do my children have the right to attend public schools for free? Is the teaching in English?

Children of Golden Visa holders have the right to attend public schools in Greece free of charge. However, most public schools teach in Greek, and English is only offered as a second language.

For education in English, many families choose to enrol their children in private international schools, especially in cities like Athens and Thessaloniki. These schools follow international curricula and charge tuition fees.

Am I allowed to work in Greece with a Golden Visa?

No, investors are not permitted to work as employees or freelancers under the Greece Golden Visa. It is a residence permit only, and does not grant the right to employment in the country.

However, it is possible to start a business or own a company in Greece. Running a business as a shareholder or director is permitted, provided the role does not involve salaried employment.

As a resident, how does the Schengen 90/180-day rule apply to me?

Golden Visa holders are legal residents of Greece and can travel freely within the Schengen Area without a visa. They may stay up to 90 days within any 180-day period in other Schengen countries, outside of Greece.

In Greece, there is no limit on how long they can stay as long as the residence permit is valid. The 90/180-day rule applies only to travel outside Greece but within the Schengen area.

Can I exchange my non-EU driver’s licence for a Greek one? What is the process?

Non-EU drivers can usually exchange their licence for a Greek licence, depending on their country of origin and bilateral agreements with Greece.

The process of getting a Greek driver’s licence involves:

• applying to the local Transport and Communications Department;
• providing a valid residence permit and tax identification number;
• presenting the original driver’s licence and certified translation;
• undergoing a basic medical check-up;
• paying administrative fees.

If no direct exchange agreement exists, the applicant may be required to take a written and practical driving exam in Greece.

Greece reformed its Golden Visa program in 2024 to tighten rules and raise investment thresholds. We have answered the most common questions here about the three-tier system of €800,000, €400,000, and €250,000. We also show which areas count as high-demand, what conditions apply to properties, why short-term rentals are banned, and how the new law affects existing permit holders.

What are the main changes to the Greece Golden Visa program in 2024?

The Law 5100/2024 introduced major revisions to the Greece Golden Visa. The main changes include increased investment thresholds, new zoning rules for property purchases, restrictions on property use, and tighter conditions for the €250,000 investment option. Additionally, only one property can now be purchased under a single application, and short-term rentals are banned.

Can you explain the new three-tier system for real estate investment — €800,000, €400,000, €250,000?

The revised Golden Visa program defines three real estate investment tiers:

• €800,000 for properties in high-demand urban and tourist areas;
• €400,000 for properties in all other regions of Greece;
• €250,000 only for specific properties undergoing restoration or full conversion from non-residential to residential use.

Each tier is tied to precise conditions relating to location, property status, and intended use.

Which specific areas require an €800,000 investment?

Under the updated rules introduced by Law 5100/2024, the Greece Golden Visa program now classifies certain locations as high-demand zones, where the minimum real estate investment threshold has been raised to €800,000. 

An investment of at least €800,000 is required when purchasing property in the following areas:

• the Municipality of Athens,
• the Municipality of Thessaloniki,
• the islands of Mykonos and Santorini.

These are classed as high-demand areas under the updated rules.

What are the exact requirements for the €800,000 and 400,000 investment tiers?

Under the revised Greece Golden Visa rules introduced in 2024, both the €800,000 and €400,000 investment tiers come with strict eligibility conditions that go beyond the amount invested. 

To qualify under either tier, the investor must:

• purchase a single property — combining multiple properties is no longer permitted;
• ensure the property has a minimum surface area of 120 m², regardless of the region;
• not to use the property for short-term rentals, including Airbnb or similar platforms;
• maintain continuous ownership of the property throughout the entire duration of the residence permit.

The €800,000 applies to designated high-demand areas, while €400,000 applies to all other parts of Greece.

Is it still possible to invest €250,000? What are the hidden risks and conditions?

Yes, it is still possible to invest €250,000 to obtain a Greece Golden Visa. However, there are only two narrowly defined scenarios:

1. The property is a listed historic building undergoing full restoration.
2. The property is a commercial or industrial building unused for over 5 years and fully converted for residential use, with formal approval of the change of use before submitting the Golden Visa application.

Risks of purchasing a property worth €250,000 include delays or complications in receiving the required permits and certificates. Incomplete or incorrectly documented conversions may result in the application being rejected.

What does "conversion of a commercial property" mean in practice, and what is the deadline for it?

Conversion refers to changing the legal designation of a property — for example, from an office or warehouse to a residential apartment. In practice, the property must be unused for over five years and undergo structural and legal transformation, including updated floor plans, compliance checks, and official documentation. The change of use must be completed and formally approved before submitting a Golden Visa application.

There is no specific deadline set by law but no application can be submitted under the €250,000 route unless the conversion is fully approved beforehand.

What are the consequences of not completing the restoration of a historic building within 5 years?

If the restoration of a listed building is not completed within five years, the residence permit may be revoked. Greek authorities require evidence of timely and proper restoration as part of the investment conditions. Failure to meet this requirement can lead to loss of legal residency rights for both the investor and included family members.

Am I allowed to rent out my Golden Visa property on Airbnb or other short-term rental platforms under the new rules?

No, you are not. The updated law explicitly prohibits short-term leasing or subleasing of Golden Visa properties. Using the property for platforms like Airbnb violates the terms of the program and can result in:

• cancellation of the residence permit;
• a fine of €50,000.

Only long-term rentals are allowed and can provide a legal source of passive income.

Do these new rules apply to existing Golden Visa holders who want to renew their permits?

Existing Golden Visa holders are not affected by the new investment thresholds or property use rules when it comes to renewing their permits as long as they retain ownership of the original qualifying investment and remain compliant with the program terms in force at the time of their initial application.

Greece offers multiple investment routes to qualify for residency, ranging from real estate to financial products. This section explains the nine eligible options, the minimum thresholds for property and alternative paths such as funds, bonds, and bank deposits. It also covers restrictions on combining assets, switching investment types, and the pros and cons of real estate versus securities.

What investment types qualify?

There are a total of nine investment options that qualify for the Greece Golden Visa. These fall into three broad categories: real estate, financial instruments such as bonds and deposits, and collective investment plans like mutual and alternative funds.

Each option has specific minimum thresholds and regulatory conditions. They include:

• €250,000, €400,000, or €800,000 — real estate purchase;
• €350,000 — units in a mutual fund focused on Greek assets;
• €500,000 — fixed-term deposit in a Greek bank.

Immigrant Invest provides full legal and procedural support during the investment stage, whether it’s real estate selection or fund verification. We set up banking and check compliance so you don’t need to. Our team ensures every step is handled professionally and in line with Greek regulations.

What’s the minimum investment amount?

The minimum investment amount under the Greece Golden Visa varies based on the type and location of the investment. For real estate, the thresholds are:

• €800,000 for properties in high-demand areas such as Athens, Thessaloniki, Mykonos, and Santorini;
• €400,000 in all other regions of Greece;
• €250,000 for special cases, including properties undergoing full reconstruction or conversion from commercial to residential use, with formal approval.

Alternative Greece Golden Visa options include:

• €350,000 in Greek fund shares;
• €500,000 in bank deposits, bonds or companies.

Can I invest in multiple properties?

It is not possible to invest in multiple properties for a Greek Golden Visa under the real estate option. Only one property may be purchased under a single Golden Visa application, according to the regulations.

Are rentals allowed?

Yes, rentals of properties purchased for the Greece Golden Visa are allowed, but it comes with certain conditions. Golden Visa holders may lease out their property only under a long-term rental agreement, typically defined as leases lasting more than 12 months. These rentals can generate annual returns of 3—5%, depending on location and demand, and are fully legal under Greek law.

Short-term rentals, including those listed on platforms such as Airbnb, Booking.com, or similar, are explicitly prohibited for properties acquired under the Greece Golden Visa. This restriction applies regardless of the property’s location or value.

Violating this rule can result in serious penalties:

• immediate cancellation of the residence permit,
• a fine of €50,000 imposed by the Greek authorities.

How does the €350,000 fund investment option work? Is it a safe route to the Golden Visa?

One of the Greece Golden Visa investment options is purchasing mutual fund shares valued at a minimum of €350,000.

The mutual fund must meet strict conditions to be eligible for the Golden Visa:

1. Fund invests exclusively in Greek shares, corporate or government bonds listed or traded on regulated markets in Greece.
2. Its total assets must exceed €10 million.
3. Fund is managed by a licensed authority, either within the EU or by a non-EU body that is a member of IOSCO and has an agreement with the Hellenic Capital Market Commission.
4. Investments are handled through a licensed intermediary or a Greek bank. All transactions are recorded in the Hellenic Central Securities Depository.
5. Funds in the investment account may only be used for portfolio operations, paying dividends, or unit redemptions. No disbursement for other purposes is allowed.
6. Participation is verified through annual reports and formal certificates issued by the fund manager.

While this investment route is generally secure and regulated, it carries market risk similar to any financial instrument. The return depends on fund performance, and investors should consider their risk tolerance. This pathway is ideal for those seeking low-maintenance investment, but it requires expert legal and financial guidance to ensure compliance and security.

Immigrant Invest supports investors throughout the selection and documentation process, ensuring funds meet all regulatory criteria for Golden Visa eligibility.

How does the €500,000 bank deposit option work? Is it a safe investment?

As part of the Greece Golden Visa program, one of the approved investment routes is placing €500,000 in a fixed-term deposit with a Greek bank. This option is designed for investors who prefer a low-risk, non-property-based path to residency. The deposit must be:

• maintained for at least one year;
• automatically renewable;
• made under the applicant’s name.

This is considered a safe and conservative option, especially for those not interested in managing real estate or business operations. However, the return is typically low, and early withdrawal or breaking the fixed term invalidates the residence permit.

What is better: to purchase real estate or securities under the Greece Golden Visa?

Investing in real estate under Greece Golden Visa includes the following perks:

• potential for capital appreciation;
• the ability to generate long-term rental income by renting out the property;
• tangible asset ownership in a stable EU market.

The main disadvantages of investing in real estate include the significantly higher thresholds in high-demand areas such as Athens and the islands, the ongoing costs related to property taxes and maintenance, and restrictions on usage, such as the ban on short-term rentals. Additionally, if the property involves restoration or conversion, legal and procedural complexities may arise.

Immigrant Invest experts provide full legal and transactional support at every stage of property acquisition, from selecting qualifying real estate to conducting Due Diligence and ensuring compliance with Golden Visa requirements.

Financial products such as bonds and funds offer:

• easier compliance without renovations or property management;
• portfolio diversification;
• flexibility in switching assets.

However, they may carry market risk, limited liquidity, and potentially lower long-term returns compared to real estate in a strong market.

Can I switch my investment type later, for example, sell my property and buy government bonds at renewal?

According to the Greece Golden Visa rules, switching between investment types is possible but complicated. To maintain or renew a residence permit, the investor must continuously hold an eligible asset that meets the minimum value requirement.

Selling the property before renewal leads to cancellation of the residence permit, unless another eligible investment is made before the sale. Changing the type of investment, such as real estate to bonds or funds, is only possible if:

• new investment meets all eligibility rules;
• supporting documents are submitted;
• transition happens without a gap in qualifying status.

Can I combine multiple properties or investments to meet the minimum threshold?

Under the new rules implemented in 2024, it is no longer allowed to combine multiple properties to reach the investment threshold for a Greece Golden Visa. The law now requires the purchase of a single property meeting the minimum value and size requirements.

In the case of financial products, combining different instruments like bonds and mutual funds is also not permitted unless explicitly structured within a regulated fund that qualifies as a single eligible investment.

Greece has one of the clearest and most structured residency-by-investment processes in Europe. Here you will find our answers on how to apply for the Golden Visa step by step, how long the approval takes, which documents are required, and when a visit to Greece is necessary. This section also covers Due Diligence, bank account setup, financing rules, and property verification.

How do you get residency in Greece?

Applying for the Greece Golden Visa is a well-structured process. With the support of legal experts, most steps can be completed remotely. The obtaining process consists of a few mandatory steps:

1. Pass a Due Diligence check.
2. Make an eligible investment.
3. Submit an online application.
4. Provide biometrics within 6 months.
5. Wait for approval and receive your residence card.

Immigrant Invest assists at every stage of the process: from property search or investment setup to tax registration, document preparation, legal compliance, application submission, and appointment scheduling.

How fast is the approval process?

The Greece Golden Visa process is considered fast compared to other EU residency programs, as it takes around 4 months to obtain status. By comparison, similar programs require 5 months in Hungary, 6 months in Malta, 9 months in Cyprus, and 8—12 months in Portugal.

What documents are required to apply for the Greece Golden Visa?

To apply for the Greece Golden Visa, both the investor and their family members must submit a set of documents. The exact list depends on the chosen investment option and family composition.

Documents from the main applicant and family members:

1. Valid international passport.
2. National ID or internal passport.
3. Golden Visa application form.
4. Proof of legal residence in Greece.
5. Health insurance valid in Greece.
6. Proof of funds like bank statements, an employment contract, or tax returns.
7. Marriage certificate.
8. Cohabitation Agreement must be registered in Greece.
9. Birth certificates for children and parents.

Do I need to visit Greece to apply? If so, how many times?

To apply for a Greece Golden Visa, at least one in-person visit is required to complete the biometric enrolment. This must be done within six months of submitting the application. Depending on personal preferences and bank policies, a second visit may be needed to open a bank account. 

All other steps, including investment, tax registration, and application submission, can be handled remotely with a valid power of attorney.

Immigrant Invest provides full legal support, coordinates each stage in advance, and ensures that every detail is managed professionally so the client’s visit to Greece is brief, efficient, and fully prepared.

Can I complete the entire Golden Visa process remotely from my home country?

Yes, most of the Greece Golden Visa process can be completed remotely with proper legal support. Property selection, document collection, investment formalities, tax number registration, and even application submission can be handled through a Power of Attorney, POA. The only step that requires personal presence is the biometric appointment, which must take place within six months of submitting the application.

What is a Power of Attorney, and what specific actions can my lawyer take on my behalf?

A Power of Attorney, POA, is a legal document that allows an appointed lawyer in Greece to act on behalf of the investor for a Golden Visa application. 

With a properly notarised and apostilled POA, the lawyer can:

• apply for a Greek Tax Number;
• open a Greek bank account;
• sign the property reservation and purchase agreements;
• handle all transactions related to the investment;
• submit the Golden Visa application and follow up with the authorities;
• collect the residence permit card after approval.

The POA must be carefully worded to include specific authorisations aligned with immigration and property laws. 

Immigrant Invest lawyers prepare a POA that meets all relevant legal requirements and enables the lawyer to act in the best interests of the investor throughout the Golden Visa process.

What are the risks of using a Power of Attorney, and how can I protect myself?

To apply for the Greece Golden Visa, most investors use a Power of Attorney, POA, to avoid extensive travelling to Greece. The main risk of using a POA is granting too much authority without oversight, especially in the case of a general POA. 

To reduce this risk, it is recommended to:

• issue a limited or specific POA that only allows defined actions related to the Golden Visa process;
• use a trusted and experienced Greek law firm;
• request regular updates and transaction records;
• include a clause limiting the POA’s duration or scope to the visa application timeline.

A properly structured POA offers convenience with manageable risk, especially when vetted by an independent legal adviser. 

Immigrant Invest ensures the POA is drafted by current legal standards, supporting the investor’s interests at every stage of the Golden Visa application.

What is the step-by-step process for a non-resident to get a Greek Tax Number and open a bank account?

As part of the Greece Golden Visa application process, non-residents are required to obtain a Greek Tax Identification Number, AFM, and open a bank account in Greece to complete their investment and submit their application. 

To obtain a Greek Tax Identification Number:

1. Appoint a local tax representative in Greece.
2. Submit a POA to authorise the representative.
3. Provide a passport copy and proof of home country address.
4. Apply at the local Tax Office.
5. To open a Greek bank account:
6. Present the AFM and a certified passport copy.
7. Provide proof of income and address.
8. Complete Know Your Customer and anti-money laundering procedures.
9. Sign account-opening documents in person or through a POA at a cooperating bank.

Can I finance my Golden Visa investment with a mortgage from a Greek bank?

No, financing a Golden Visa investment with a mortgage from a Greek bank is not allowed under the current program rules. The investment must be made with personal funds, fully transferred from abroad. Greek Golden Visa regulations prohibit the use of a mortgage issued in Greece for the qualifying investment. 

Mortgages or loans from foreign banks are permitted, but only if the full investment amount is credited to the buyer’s account in Greece and paid in full for the property.

What does the legal Due Diligence on a property in Greece typically involve?

Due diligence is a step on the road to obtaining the Greece Golden Visa. It ensures that the property meets all the requirements for a qualifying investment and protects the buyer from future legal or financial issues. 

Legal due diligence is carried out by a licensed lawyer and typically covers the following checks:

• confirmation of ownership title and property history;
• search for liens, mortgages, or legal encumbrances;
• review of zoning compliance and building permits;
• verification that the property qualifies under the Golden Visa rules;
• validation of size, value, and location in line with legal thresholds;
• confirmation of clean tax and utility records;
• compliance with heritage or conservation area rules, if applicable.

This process ensures that the investment is legally valid and protects the buyer from hidden liabilities.

How long does the entire process take, from starting the property search to receiving the residence card?

The Greece Golden Visa process usually takes about 4 months from the start of the property search to receiving the residence permit card.

Most steps, such as property selection, legal checks, and application preparation, move quickly. However, the longest stage is typically the final approval and issuance of the residence card, which can take up to 3 months or more, depending on the workload of the regional authorities.

Additional delays may arise due to issues with property documentation, legal procedures, or limited appointment availability.

The Greece Golden Visa offers long-term stability for investors and their families. In this section you will find answers to the most common questions about maintaining and renewing the Greece Golden Visa. It covers renewal rules, the requirement to live in Greece, the duration of legal stays without residency, what happens when children reach 21, and how family members can be added later.

How do I renew my Greece Golden Visa?

The Greece Golden Visa is valid for five years and can be renewed indefinitely, provided the investor continues to hold the qualifying investment and remains in compliance with the program rules. 

The renewal application must be submitted no later than two months before the current permit expires. It is essential to maintain ownership of the property or other eligible assets throughout the permit period. 

Immigrant Invest provides full support for renewals, including legal guidance, document collection, and representation before Greek authorities.

Do I have to live in Greece to keep my Golden Visa?

No, Greek Golden Visa holders are not required to live in Greece to maintain or renew their permits. There is no relocation requirement.

However, those who wish to obtain Greek citizenship through naturalisation must reside in Greece continuously for at least seven years. Occasional visits are not sufficient — applicants must demonstrate physical presence and integration into Greek life, including tax residency and participation in social systems.

How long can you live in Greece without residency?

Non-residents from visa-exempt countries can stay in Greece without residency for up to 90 days within any 180-day period. To stay longer, one must hold a residence permit like the Golden Visa.

What happens to my children’s residence permit when they turn 21? Can it be renewed?

Children included in a Greece Golden Visa application are initially granted a residence permit valid until the age of 21. Upon turning 21, those who already hold a permit are automatically eligible for an extension until age 24, provided they are students and financially dependent.

After reaching 24, the individual must qualify for residency under Greece’s general immigration rules, such as for work, study, or family reunification. Renewal is only possible if there are valid grounds for legal residence under the applicable laws at that time.

Can I add family members to my Golden Visa application after the initial submission?

Yes, family members can be added to a Greece Golden Visa application even after the investor has already submitted theirs. There is no requirement for the entire family to apply at the same time. Family members may submit their application at a later date, once they enter Greece.

Each family member will receive a residence permit of the same duration as the main applicant. However, as with the investor, this permit does not grant access to employment in Greece.

The Greece Golden Visa has clear rules, but investors should also be aware of potential risks. Here you will find answers about risk management: when a residence permit can be revoked, what happens if an application is rejected, and how residency can be maintained when selling a qualifying property.

Under what circumstances can my Golden Visa be revoked or cancelled after it has been issued?

The residence permit may be cancelled if the investor no longer meets the program’s requirements. Common grounds for revocation include:

• sale of the qualifying property without acquiring another eligible asset;
• failure to complete the required restoration of a listed or converted property within five years;
• illegal property use, such as leasing it on short-term rental platforms like Airbnb;
• providing false or misleading information during the application process;
• failure to submit biometric data within the required timeframe;
• withdrawal of the investment or breach of other program conditions.

Greek authorities also reserve the right to revoke the permit in cases of serious legal offences or threats to public order.

What happens if my application is rejected after I have already purchased the property? Can I appeal?

If an application for a Greece Golden Visa is rejected after purchasing the property, the applicant may file an appeal or request a review, depending on the reason for the refusal. Appeals are handled by the Greek administrative courts or relevant authorities, but the process can be lengthy.

Such rejections are extremely rare, especially when the application is professionally managed. Immigrant Invest conducts preliminary Due Diligence and ensures full legal compliance at every step, significantly reducing the risk of denial.

If I sell my property, do I lose my residency immediately? How can I maintain it?

Selling the qualifying property before renewing the residence permit results in loss of residency rights, as ownership of the eligible investment is a core condition of the program.

To maintain the Golden Visa, you must:

• retain ownership of the qualifying property throughout the 5-year permit period and beyond if seeking renewal;
• if planning to sell, reinvest in another eligible property before completing the sale;
• submit updated ownership documents when applying for permit renewal.

Golden Visa holders who meet the reinvestment criteria may continue to maintain residency without interruption.

The Greece Golden Visa comes with certain costs and taxes that investors need to plan for. In this section you will find answers about expenses beyond the property price, annual ENFIA property tax, income tax on rentals, the Non-Dom regime, and VAT on new properties.

What is the total estimated cost to get the Golden Visa, beyond the property price? 

In addition to the purchase price, investors applying through the Greece Golden Visa program should account for taxes, legal fees, government charges, and administrative expenses. These additional costs can vary depending on the type of investment, property value, number of applicants, and level of legal support required. 

For a property valued at €400,000, a typical breakdown may include:

1. Property transfer tax: 3% — about €12,000.
2. Legal fees of 1—2%, or approximately €4,000—8,000.
3. Notary and registration fees: €2,000—3,000.

Golden Visa government fees include:

• €2,000 for the main applicant;
• €150 per adult family member over 18.

Translation and certification of documents typically cost between €500 and €1,000, depending on the number and type of documents required.

Health insurance for each applicant costs approximately €300 to 500 per year, with the exact amount depending on the applicant’s age, coverage level, and insurance provider.

The estimated total additional cost is €25,000 or more, depending on the number of family members and service provider fees.

What is ENFIA, and how much can I expect to pay annually in property tax?

ENFIA — Ενιαίος Φόρος Ιδιοκτησίας Ακινήτων, or Uniform Real Estate Ownership Tax. It is the Greek annual property tax. Investors who purchased property for a Golden Visa are obligated to pay it. The amount depends on the location of the property, surface area, age and zoning value.

For a property worth €400,000, the annual ENFIA is typically in the range between €1,000 and 2,500, although exact figures are calculated based on government-assessed property values.

What is the income tax rate for non-residents earning rental income in Greece?

Non-residents who earn rental income from Greek property are taxed only on income generated within Greece. The standard tax brackets are:

• 15% on income up to €12,000;
• 35% on income from €12,001 to 35,000;
• 45% on income over €35,000.

Additionally, a solidarity contribution or municipal tax may apply in certain areas.

Are there any ways to optimise my tax obligations as a Golden Visa holder? What is the "non-dom" tax regime?

To optimise their tax obligations, Golden Visa holders in Greece may choose to participate in the country’s non‑domicile, or non‑dom regime. It allows investors to pay a flat tax of €100,000 per year on foreign-sourced income, provided certain conditions are met. Participants benefit from the exemption of inheritance and gift tax on foreign assets. 

Eligibility criteria include:

• minimum €500,000 investment in Greece within three years: real estate, business shares, or financial instruments;
• not having been a Greek tax resident for at least 7 of the previous 8 years;

It is also recommended to spend at least 183 days per year in Greece for eligibility, as the tax authorities may consider it when assessing your centre of vital interests. While this is not a formal legal requirement, meeting this criterion is advisable in practice.

It is important to note that any income generated within Greece remains subject to standard Greek tax rates.

Is the 24% VAT on new properties still applicable?

No, the 24% VAT on newly built properties in Greece has been suspended under a fiscal incentive policy aimed at stimulating the real estate market. Instead, buyers — including those applying through the Greece Golden Visa program — pay only the 3% property transfer tax.

The Greece Golden Visa can lead to long-term residence and, eventually, citizenship. In this section we provide answers about permanent residency, the path to citizenship, dual nationality, naturalisation rules, and the difference between a residence permit card and a Greek ID.

Can you get permanent residency in Greece?

Yes, you can obtain permanent residency in Greece. Golden Visa holders receive a five-year residence permit, which can be renewed indefinitely as long as the required investment is maintained. After five years of continuous legal stay, you achieve permanent resident status by continuing to renew your permit.

After seven years of residence, an investor may apply for Greek citizenship considered they are meeting naturalisation requirements. Greek citizenship grants rights equal to those of Greek nationals.

Does a Greece Golden Visa lead to citizenship?

Yes, the Greece Golden Visa offers a pathway to citizenship by naturalisation, but only if the investor resides in Greece continuously for at least seven years. 

Simply holding the residence permit is not enough. Applicants must also be tax-compliant, contribute to social security, and demonstrate integration by passing an exam on the Greek language, history, and government. Successful applicants receive full citizenship rights, including a Greek passport.

Does Greece allow dual citizenship?

Yes, Greece allows dual citizenship. Holders of a Greece Golden Visa can retain their original citizenship if their home country permits it.

What’s the citizenship pathway?

Under the Greece Golden Visa program, the pathway to citizenship begins with maintaining the qualifying investment and renewing the residence permit every five years. There is no limit to the number of renewals, as long as the investment is retained and all legal conditions are met.

To become eligible for Greek citizenship, the investor must reside in Greece continuously for at least seven years. After fulfilling this requirement, they must pass a state examination covering the Greek language, history, and governance, and attend an interview with the Naturalisation Committee. Upon approval, the applicant is granted Greek citizenship and a passport, unlocking full EU rights and permanent status. 

What is the new 3-year naturalisation law in Greece?

In 2021, Greece introduced an amendment to its citizenship law, establishing a shortened 3-year residency requirement for naturalisation in certain cases. 

The 3-year rule is separate from the standard 7-year pathway required for most applicants, including those holding a residence permit under the Greece Golden Visa program. Golden Visa investors are not eligible for this exception unless they fall into one of the qualified categories and meet the residency condition.

According to official guidance from the Greek Ministry of Interior, a person may apply for citizenship after 3 years of legal and permanent residence in Greece if they meet one of the following criteria:

1. They are married to a Greek citizen and have a child together.
2. They are the parents of a minor who holds Greek citizenship, excluding cases where the child acquired citizenship solely through school attendance in Greece.
3. They are officially recognised as a refugee or stateless person by the Greek authorities.

What is the 7-year naturalisation law in Greece?

Golden Visa holders may apply for Greek citizenship after 7 years of continuous legal residence in the country. This requires passing a language and civics exam.

How to get a Greek ID card?

Greek ID cards, Ταυτότητα, are issued only to Greek citizens, not to foreign residents. To obtain a Greek ID card, one must first go through naturalisation, meet all residency and integration requirements, and officially acquire Greek citizenship.

Golden Visa holders and other non-EU nationals receive a residence permit card, which is a plastic biometric card that proves their legal status in the country.