Greece’s Golden Visa Programme is the country’s main programme for facilitating residency by investment.
Indian investors bought Greek properties at a record pace in July and August in a bid to secure permanent residency before Greece's Golden Visa program undergoes major changes on September 1. Data showed that property purchases by Indian investors in Greece grew by a staggering 37 percent from July to August. The surge was driven by buyers looking to take advantage of the existing minimum investment requirements.
Now, changes to the Golden Visa program have doubled the minimum investment required to qualify for a visa by purchasing real estate. The threshold has been increased by €800,000 (approximately Rs 70 million) in Tier I cities, including Athens, Thessaloniki, Mykonos and Santorini.
In Tier II regions, which cover all other parts of Greece, the minimum investment has been increased from €250,000 to €400,000.
Greece Golden Visa Program
The Greek Golden Visa Programme is a premier residency-by-investment initiative designed to attract non-EU nationals to invest in Greece.
In 2024, the program was updated to better align with Greece's economic strategy and introduce new investment criteria and conditions.
Eligibility Criteria
- Non-EU/EEA nationals
- 18 years or older
- No criminal record
- Medical Insurance
- Good character
advantage
- Right of residence: The right to reside in Greece without compulsory residence requirements.
- Access to the Schengen Area: Travel within the Schengen Area is visa-free.
- Family Admission: Eligibility for family members to obtain residency.
- Path to citizenship: If you meet the conditions, you may be able to apply for Greek citizenship after seven years of residence.
Application Process and Legal Requirements
Required documents
- Valid passport: current and past visas.
- Proof of investment: real estate contract, bank statements, etc.
- Biometric data: Required for application.
- Health Insurance: Valid in Greece.
- Criminal history: No criminal history in the applicant's country of residence, officially translated into Greek.
Legal Representation
- Required Attorney: Licensed to practice law in Greece.
- The role of the lawyer: Facilitate the preparation and filing of documents and ensure compliance with Greek immigration laws.
- Power of Attorney: Often required to allow an attorney to act on the applicant's behalf.
Renewal and Permanent Residency
- Initial permit: Issued for a period of five years and is renewable as long as the investment is maintained.
- Permanent Residency: Eligibility is achieved after seven years of continuous residence in Greece.
Dependents
- Spouses and partners: Includes legally recognised cohabitation agreements.
- Children: Under 21 years of age, or older if financially dependent and attending school.
- Parents: Dependents of the principal applicant or spouse.
