Top 7 Benefits of Greece Golden Visa

]The Greece Golden Visa program offers residency to non-EU nationals who make qualifying investments in the country. Since its launch in 2013, it has become one of the most popular residency-by-investment programs in Europe.

Below are the top 7 benefits of the Greece Golden Visa, picked from a Golden Visa blog, highlighting investment thresholds, paths to permanent residency, and more.

1. Low minimum investment thresholds

A relatively low entry point for real estate investment makes Greece more affordable than other EU programs.The Greece Golden Visa allows investing €400,000+ in smaller regions, or even €250,000+ for properties purchased for renovation or conversion into residential accommodations.

For comparison, Spain Golden Visa or Hungary Golden Visa require investing €500,000+ in real estate, while Portugal Golden Visa doesn’t have a real estate option at all.

2. Family inclusion

The Greece Golden Visa allows investors to include certain family members in their application. Eligible family members include:

• the spouse of the main applicant;
• unmarried children under the age of 21, including those of both the applicant and spouse and financially dependent;
• parents of either the main applicant or the spouse, financially dependent.

3. Visa-free travel within the Schengen Area

One of the best benefits of Greece Golden Visa is visa-free entry to all Schengen countries. It is permitted for up to 90 days within any 180-day period. This benefit extends to both the main applicant and their eligible family members, covering countries like France, Germany, Italy, and Spain.

4. No residency requirement

Greece’s Golden Visa program has no mandatory residency requirement. There is no need to live in Greece to maintain the residency permit. Investors can renew their residency every five years as long as the investment is maintained, without any requirement to spend time in the country.

5. Permanent residency and citizenship opportunity

The Greece Golden Visa offers a path to both permanent residency and citizenship:

1. Permanent residency can be applied for after five years, provided the investment is maintained. This residency allows the holder to live in Greece indefinitely without needing to reapply, though they still won't have the full rights of citizenship.
2. Citizenship is available after seven years of continuous residency, but applicants must meet additional requirements, including demonstrating a proficiency in the Greek language and a good understanding of Greek culture.

Continuous physical residency is required for citizenship, unlike the Golden Visa’s more flexible residency permit

While the Greece Golden Visa alone doesn’t lead directly to citizenship, it offers a path for those who eventually want to gain the full rights of EU citizens.

6. Access to Greek education and healthcare

Golden Visa holders and their families have access to Greece's education and healthcare systems.

Greece has a variety of schooling options, including public, private, and international schools. Many international schools offer curriculums in English, French, and German, making it appealing for expatriate families. 

Golden Visa holders are also eligible to use Greece's public healthcare system, which offers affordable services. The healthcare system in Greece provides quality care, and residents may also access private healthcare if needed.

7. Strong real estate market and investment opportunities

Greece’s economy has shown resilience and recovery in recent years, attracting attention from business and real estate investors. After a decade of challenges, Greece rebounded post-2018, with GDP growth of 8.3% in 2021 and 5.9% in 2022, driven by tourism, exports, and foreign investments.

In 2023, Greece’s GDP growth rate was projected at 2.5%, outperforming many EU countries despite global uncertainties. The government focused on economic reforms, reducing the debt-to-GDP ratio to 171% in 2023 from over 200% during the crisis. Unemployment dropped to 11.8% in early 2024, the lowest in over a decade, creating a stable economic environment.

For investors, the real estate market is particularly attractive, with property prices rising by 11.2% in 2022 and continuing to grow in 2023. High-demand areas like Athens, Thessaloniki, and popular islands have seen significant foreign investment due to favourable residency programs like the Golden Visa. With ongoing infrastructure projects and EU funding, Greece is positioned as a promising destination for business and real estate investments.

How to get Greek Golden Visa

1. Choose an investment option. They include:

1. Real estate purchase: €250,000+
2. 10-year lease of tourist accommodation: €250,000+
3. Timeshare agreement for tourist accommodation: €250,000+
4. Purchase of shares in mutual or alternative investment funds: €350,000+
5. Opening a fixed-term bank deposit: €500,000+
6. Purchase of government bonds: €500,000+
7. Capital investment in Greek companies: €500,000+
8. Purchase of corporate or government bonds listed for trading: €800,000+

2. Collect documents. Applicants must gather necessary documents, including a valid passport, proof of funds, health insurance, and property-related documents if purchasing real estate. For family members, additional documents like marriage or birth certificates are required.

3. Obtain a Greek tax number. A tax number is essential for conducting transactions in Greece, including property purchases. Lawyers handle the application, and the tax number is typically issued within 3—7 working days.

4. Make the investment. Investors must complete their property or securities investment. In the case of real estate, a preliminary purchase agreement is signed, followed by the final agreement. Lawyers manage the process under power of attorney.

5. Submit the residence application. Once the investment is complete, the residence application is submitted online through the Greek migration service.

7. Submit biometric data. Within six months of submitting the residency application, the investor must visit Greece to provide biometric data, such as fingerprints and photographs.

8. Receive residence permit. The Greek authorities process the application within 1—2 months, after which the investor can collect their residence permit card.

Summing up

The Greece Golden Visa program offers numerous benefits, including a low investment threshold, visa-free Schengen Area travel, and a clear path to permanent residency and citizenship. With no residency requirement, it provides flexibility for investors. Family reunification, access to education and healthcare, and the potential for strong returns on real estate make it one of the best options for those seeking European residency.