Greek Golden Visa: requirements and incentives
In a nutshell, the benefits of golden visa are summarized as follows:
- 5-year permit validity for non-EU residents
- Visa-free travel across the Schengen Area
- No minimum stay in Greece is required
- Low investment threshold compared to other EU programs
- Pathway to Greek citizenship after 7 years
- Can be efficiently combined with €100,000 flat tax program for HNWI or the pensioners’ alternative scheme providing for 7% flat rate.
The Golden Visa in Greece: A Gateway to Europe
Greece’s Golden Visa program has gained immense popularity among international investors since its introduction in 2013. Undoubtedly, the Greek program is one of most attractive residency-by-investment frameworks in Europe, thanks to its straightforward application process and multiple investment options.
While property acquisition has historically been the most popular investment, the updated framework -effective from January 1, 2025- has introduced multiple thresholds and various investment opportunities.
Eligible Investments for the Greek Golden Visa
A. Real Estate Investments (effective from 01/01/2025)
- €800,000 Minimum: Applies to high-demand areas such as Attica, Thessaloniki, Mykonos, Santorini, and islands with over 3,100 residents. The investment must be in a single property of at least 120 square meters.
- €400,000 Minimum: Applies to all other regions, also requiring a single property of at least 120 square meters.
- €250,000 Exception: Applies to listed historic buildings requiring restoration and properties converted from commercial to residential use, regardless of location or size.
It needs to be noted that short-term rentals (e.g., Airbnb) are not allowed after the property purchase and issuance of Golden Visa.
B. Trading portfolios and deposits
- Investment Funds
- €500,000 in Greek corporate bonds, mutual funds, or closed-end investment companies.
- €350,000 in mutual funds investing in shares, corporate bonds, or Greek government bonds.
- €500,000 in a Public Limited Real Estate Investment Company (REIC) exclusively investing in Greece.
- Government bonds & Deposits
- €500,000 in Greek government or corporate bonds with at least three years of maturity.
- €500,000 fixed-term deposit in a Greek credit institution, locked for at least one year.
- Securities
- €800,000 in shares, corporate bonds, or government bonds traded on the Greek stock exchange.
C. Real economy investments: Startups (effective from 05/12/2024)
- €250,000 Minimum: Investors can acquire shares in Greek startups through a capital increase or issuance of convertible bonds.
- Ownership Cap: Investment cannot exceed 33% of the company’s capital or voting rights.
- Job Creation Requirement: The company must create at least two new jobs within the first year and maintain the total workforce (including these jobs) for at least five years.
D. Strategic Investments
- Investors can obtain a Golden Visa by participating in large-scale projects classified as strategic by the Greek government. The minimum investment depends on the sector, type, and economic impact of the project.
Conclusion
The introduced investment categories, accompanied by competitive thresholds and low requirements, offer flexibility and incentives for entering the Golden Visa program. The updated framework reflects the commitment of Greek administration to attract foreign capital funding several sectors of the economy. Also considering the robust growth prospects, now is an excellent time to invest in Greek assets.
