Statistics of international realtors suggest that Greece led the Top-10 list of countries for buying real estate properties in 2024. At the same time, official statistics show that the Greek Golden Visa program has become very popular, establishing Greece as one of the most looked-for investment and residency options in Europe.

Greek Golden Visa program includes various investment options, all leading to a Golden Visa for investors and their family members. The program is being revisited from time to time to address the challenges of the market and to include new types of investments. Here are the two most performed and simple to conclude investments, plus a recently introduced, new type of investment, leading to Golden Visa granting in Greece:

Investment through a fixed-term deposit account held with a Greek Bank.

The minimum amount of this type of investment is 500.000 Euros. The minimum duration of the fixed-term deposit is 1 year, with a standing order for its renewal for an equal period. The procedure for this type of investment is rather simple: the investor must arrange for the opening of a bank account with a Greek banking institution. The required funds must come to Greece from any other country, enter the bank account and be transferred to the fixed-term deposit in the name of the investor. After that, the investment is certified by the Ministry of Development and the Golden Visa applications are filed for the investor and his/her family members. The physical presence of the investor and his family members in Greece is required only once, at the end of the procedure, for giving biometric data (fingerprints and photographs). Apart from this, the whole procedure can be performed by a local lawyer, on the basis of a Power of Attorney. This type of investment leads to a 5-year Golden Visa which can be renewed for as long as the investment is still in place.

Investment in real estate property.

Investments in real estate property may be made either by non-EU citizens, or by legal entities established in Greece or in any other EU country, the shares of which belong entirely to such non-EU citizens. All such investors are entitled to a residence permit of 5 years, renewable for an equal period, for as long as they remain the owners of the property. Investors are allowed to lease their properties, however short-term lease and use of the property as a business or branch headquarters, are not allowed.

The minimum value of the property to be purchased depends on its location: For properties lying in the areas of Attica, Thessaloniki, Mykonos, Santorini and in islands with a population above 3100 residents, the minimum value of the property is 800.000 Euros. For properties lying in other regions of Greece, the minimum value of the property is 400.000 Euros. In both these cases, the investment must relate to only one single property and, if such property is an already constructed building, the surface of its main spaces must be at least 120 square meters.

For properties the use of which has been converted from commercial to residential and for properties constituting preservable buildings intended to be restored or reconstructed, their minimum value is set to 250.000 Euros. Again, the investment must relate to one single property.

If the investment concerns the acquisition of only a joint percentage of the real estate property, then the value of such percentage must be at least 800.000 Euros, 400.000 Euros or 250.000 Euros, respectively.

Again, the physical presence of the investor and his/her family members is required only at the end of the procedure, for giving biometric data (fingerprints and photographs). Apart from this, the whole procedure can be performed by a local lawyer, on the basis of a Power of Attorney.

Investment in Greek startup companies.

This is a new type of investment leading to Golden Visa, introduced in December 2024.

It grants a residence permit to third-country nationals who invest a minimum of €250,000 in a Greek start-up company registered on the Greek National Startup Registry (“Elevate Greece”). Here are the conditions to obtain and maintain Golden Visa for this type of investment:

a. the invested amount of at least 250,000 Euros is contributed to the share capital of the startup company for acquiring either shares through a share capital increase, or bonds through issuing a bond loan,

b. the acquired shares do not exceed 33% of the share capital or the voting rights of the company,

c. the company creates, within the first year from the conclusion of the investment, at least two (2) new employment positions,

d. the company maintains, for at least five (5) years from the investment, the same total number of employment positions, increased by the new positions under (c) above.

In cases where the investment is performed by a Greek legal entity, the Golden Visa is granted to the third-country citizen who owns the 100% of such entity’s shares,

In cases where the investment is performed by a foreign legal entity, the Golden Visa is granted to up to 3 (depending on the amount of the investment) third-country citizens who own at least 33% of the foreign entity’s share capital each.

This investment must be performed with funds entering Greece by any other country for the purpose of the investment.

This type of investment leads to the granting of a 1-year Golden Visa, which can be renewed for 2 years each time, for as long as the investment is still in place and the conditions for its granting continue to be met.

The Golden Visa holder must retain the shares for at least five (5) years. If, after this minimum maintenance period, the GV holder sells the shares, his GV (and the GV of his family members) shall not be revoked, if he acquires new shares in another eligible startup company or makes some other investment (from the ones eligible for GV) within two (2) months.

Investors making any of the above investments, may be accompanied by their family members (spouse, unmarried children under 21 years old, parents), to whom a separate GV/residence permit may also be granted following their request. Their permit shall be terminated at the same time as the main investor’s permit. To children over 21 years old, a separate residence permit may be granted, having a duration of 3 years, for reasons of family reunification.

Residence permits granted under the Greek Golden Visa scheme do not provide employment rights in Greece.