GOLDEN VISA

Buying Property in Greece as a Foreign National

Greece welcomes foreign nationals who wish to invest in its real estate market, offering a straightforward process for purchasing property. Here’s what you need to know:

Eligibility to Buy Property

• You do not need to be a resident of Greece to purchase property. Foreign nationals from most countries can buy property in Greece without restrictions.
• Citizens of the European Union (EU) and European Economic Area (EEA) enjoy complete freedom to purchase property anywhere in Greece.
• Non-EU/EEA nationals may also purchase property, although certain restrictions apply to border regions. For these areas, additional permits may be required, which can be facilitated by local authorities.

Golden Visa Beneficiaries – Requirements

To qualify for the Greek Golden Visa, the following criteria must be met:

• Legal Entry or Residency: Applicants must have entered Greece legally with any type of entry visa or currently reside in Greece under a valid residence permit, even if it does not allow a change of purpose.
• Property Ownership:
  • The applicant must own and occupy the property
  • In cases of co-ownership, the residence permit is granted only if the owners are spouses holding equal shares. For all other co-owners, each individual must invest the required minimum amount
  • If the property is acquired through a legal entity, the applicant must fully own the shares or company shares of the entity
  • Residence permits may also apply to ownership of multiple properties that meet the total minimum investment value
• Minimum Investment Thresholds:
  • Attica, Thessaloniki, Mykonos, Santorini, and islands with populations over 3,100: A minimum property value of €800,000 is required
  • All other regions in Greece: A minimum property value of €400,000 is required
  • The property must be a single unit with a minimum surface area of 120 m²
• Rental Contracts:
  A minimum 10-year lease agreement for hotel accommodation or furnished tourist residences, with a total value of at least the applicable minimum investment amount, is also eligible for the Golden Visa.
• Land and Construction:
  For those purchasing land or plots and constructing buildings, the combined value of the land purchase and construction contract must meet the applicable minimum investment thresholds.
• Property Acquired Before Law Changes:
  Properties purchased before recent regulatory updates may still qualify if their value meets the current minimum requirements.

Duration and Renewal of Residence Permit

• Initial Permit: Residence permits are valid for five years.
• Renewal: Permits can be renewed for five-year periods, provided the applicant continues to meet the ownership and investment criteria.
• Absence: Time spent outside Greece does not affect the renewal process.

Additional Notes

• Residence permits do not grant access to employment in Greece but do allow the holder to engage in economic activities as a shareholder, board member or managing director of a company
• Permit holders may travel freely within the Schengen Zone for up to 90 days within a 180-day period.
• Reselling the property during the permit’s validity does not transfer the Golden Visa to the new owner.