Conditions for obtaining residence permit in Greece by purchasing a property



Sunny Greece is the cradle of ancient civilization and one of the most beautiful European countries. The mild climate, European service, favorable conditions for business development and opportunities for tourism sector allow Greece to steadily rank among the top countries for obtaining a residence permit. 

The Golden Visa program in Greece offers property owners the most attractive type of residence permit. That is why it is often called the golden residence permit or Golden Visa. This program provides not only a house by the sea, but also the right of permanent residence in a European country. In addition, the conditions for obtaining such a residence permit in Greece are the most lenient in Europe. The cost of real estate for obtaining the Golden Visa starts from 250 000 euros, and the process of obtaining is simplified and takes a small amount of time.

The conditions of the Golden Visa Program

• Investments

Starting from September 1, 2024, the conditions for participating in the "Golden Visa" program have changed. Now, to obtain a residence permit, the following conditions must be met:

• In popular regions such as Attica, Thessaloniki, Mykonos, Santorini, and on islands with a population of more than 3,100 people, the minimum property value for investors is set at 800,000 euros.
• In other parts of the country, the threshold is set at 400,000 euros. It is important that the investment is made in a single property with an area of at least 120 square meters or in a share of a property that meets the specified minimum value.
• For buildings initially intended for other purposes but planned for conversion into residential premises, the minimum investment amount is 250,000 euros. The conversion must be completed before applying for a residence permit.
• A 250,000 euro amount is also set for investments in buildings that are architectural monuments and subject to restoration. For such properties, as well as for those whose purpose will be changed (e.g., from industrial to residential), there are no minimum area requirements.
• Duration of residence permit is 5 years

Residence permit is issued for 5 years with the possibility of subsequent extension. The only condition is that the property owner must retain ownership of the property for at least 250,000 euros. This means that property owners can enjoy the benefits of a Greek residence permit for a long time: medicine, education, movement around the country, starting and developing businesses, participation in investment projects.

• Participants of the residence permit are the investor, spouses, children of spouses under 21 years old, parents of spouses

One of the main advantages of the Golden Visa program is the ability to extend the residence permit to all family members. Not only the main investor, but also his/her spouse, children of both spouses under the age of 21 and parents of both spouses are eligible to receive a residence permit. This means that property owners can ensure their entire family to legally reside in Greece.

• Permanent residence is NOT required.

The investor and family members are exempt from the mandatory presence in Greece for an extended period of time during the validity of the visa and may freely travel throughout Europe within the Schengen area. 

• Accelerated process of verification of documents and issuance of residence permits

List of documents to apply for a residence permit under the Golden Visa Program

• A passport with an active visa from any of the Schengen countries. 
• Real estate purchase and sale agreement and certificate of the contract registration in the Real Estate Registry. 

or

• purchase and sale agreement for an agrarian or land plot + construction contract for the construction/reconstruction of a residential building registered in the tax inspection + construction permit issued in the name of the applicant + invoices of the developer/s and payment receipts.

Scheme of obtaining a residence permit in Greece

1.The collection of all necessary documents in the country of residence.

2.Signing a power of attorney for an authorized representative lawyer, registration/purchase of medical insurance. (Arrival in Greece).

3.Application/translation of the documents and obtaining a “blue certificate” on the acceptance of a package of documents for obtaining a residence permit. 

4.Submission of fingerprints in the immigration service for entering into the database. (Arrival in Greece).

5.Receiving of an electronic card - residence permit in Greece for 5 years.

In general, the Golden Visa program has a number of advantages for property owners in Greece. It offers the possibility of obtaining a residence permit for the whole family, long-term residency rights, freedom of movement within the Schengen area and flexibility in the choice of residence. In addition, the program encourages investment in the Greek economy and contributes to the development of the country.