Greece Golden Visa: EU Residency from €250K Real Estate

Greece offers the most accessible Golden Visa in the European Union. A real estate investment of €250,000 (in select regions) grants you and your family a 5-year renewable residence permit with visa-free travel across the entire Schengen Area.

For the Executive seeking an EU foothold without the tax burden of France, Germany, or the Netherlands, Greece delivers EU residency at a fraction of the cost — with no minimum physical presence requirement.

The Investment Thresholds

In 2024, Greece tiered its Golden Visa pricing:

Region	Minimum Investment
Most of Greece (islands, mainland)	€250,000
Athens (city center), Thessaloniki, Mykonos, Santorini	€500,000

The investment must be in residential real estate. Commercial property, land, and under-construction properties have specific eligibility rules.

The Key Benefits

• 5-year residence permit, renewable indefinitely as long as the property is held
• Visa-free Schengen travel — 27 European countries, 90 days per 180-day period
• No minimum physical presence requirement in Greece
• Family inclusion: Spouse, children under 21, and parents of both applicant and spouse
• Path to citizenship: After 7 years of actual residency (183+ days/year) and passing a Greek language test

The Tax Consideration

Simply holding a Golden Visa does not make you a Greek tax resident. You become tax resident only if you spend 183+ days in Greece or establish your “center of vital interests” there.

If you do become a Greek tax resident, Greece offers a Non-Domicile Regime: a flat tax of €100,000/year on worldwide income for new tax residents investing at least €500,000 in Greek real estate, bonds, or businesses. This is Greece’s answer to Italy’s and Portugal’s flat-tax regimes.

The Application Process

1. Obtain a Greek tax number (AFM) — required before any property purchase
2. Open a Greek bank account — Eurobank, Alpha Bank, or Piraeus Bank
3. Purchase qualifying real estate — must be completed before visa application
4. Submit Golden Visa application to the Decentralized Administration or the Ministry of Migration
5. Biometrics appointment in Greece
6. Processing time: 2-4 months after complete submission

The Property Market Reality

Greek real estate in the €250,000 tier offers genuine value:

• 2-bedroom apartment in Crete: €180,000-280,000
• Villa on a Cycladic island: €250,000-400,000
• City apartment in Thessaloniki: €150,000-250,000

Rental yields in tourist areas (Athens, islands) run 4-7% annually, making the Golden Visa investment self-sustaining.