Applications for Greek Golden Visa Soared in Anticipation of Price Increase
When Greek Prime Minister Mitsotakis announced the price increase for golden visa real estate in September, investors reacted immediately.
Europe’s most popular residence-by-investment program for three of the last four years, the Greek Golden Visa offers visa-free travel throughout the Schengen area, as well as settlement rights in Greece itself.
While applicants may choose from a wide array of asset classes, the great preponderance prefer to qualify by investing at least EUR 250,000 in real estate on the open Greek market.
This program page is sponsored by Georgaki & Partners
Program Type | Golden Visa Program |
Time to citizenship | 7 years |
Time to permanent residency | 2-4 months |
Minimum investment | EUR 250,000 |
Physical presence requirement | None |
Application processing time | 2-4 months |
Grants visa-free travel to | 185 destinations including Schengen countries |
Contribution types available | Property Investment, Bank Deposit, Business Investment, Bond Investment, Public Shares Investment, Fund Investment |
General program requirements
To qualify for a Golden Visa for Greece, you must make one of the following investments:
€250,000 purchase of real estate (€500,000 in these 36 municipalities).
Sign a lease agreement with a hotel or tourist establishment for at least 10 years to the value of €250,000.
€400,000 capital invested in an alternative investment fund established in Greece or another country in the EU, which intends to exclusively invest in immovable property in Greece.
€400,000 investment in Greek government bonds with a maturity of at least three years at the time of purchase, via a credit institution established in Greece, which will also act as the custodian of the bonds.
€400,000 acquisition of shares in a share capital increase or bonds that are, at the time of issue, admitted for trading on regulated markets or multilateral trading mechanisms that operate in Greece.
€400,000 investment in a mutual fund incorporated in Greece or another country and with the intention to invest exclusively in shares, corporate bonds, and/or Greek government bonds.
€800,000 investment in corporate or government bonds that are admitted for trading or are traded on regulated markets or multilateral trading mechanisms, operating in Greece
Dependents, including a spouse, children under 21 years old, and parents of the main applicant’s and spouse’s parents, may be included in a single application.
Program benefits
Requirements to qualify for citizenship
Applicants are eligible for Greek citizenship following seven years of de facto residence in the country – during which time the applicant must also be a tax resident – and passing a Greek language test.
Applications for this program may be directed to:
Greek Ministry of Migration and Asylum
Legislation upon which this program is based:
Greek “Golden Visa” Law 4251/2014 “Permanent residency permit for investors”
See more statistics on this and other programs in the IMI Data Center.
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When Greek Prime Minister Mitsotakis announced the price increase for golden visa real estate in September, investors reacted immediately.
Only one in ten Greek municipalities are subject to the new EUR 500,000 golden visa property investment minimum, write Georgaki & Partners.
Ukraine, whiplashing post-pandemic demand, Portugal’s golden visa crisis, and a host of price changes made for a highly eventful year.
Municipalities in Greater Athens, Thessaloniki, as well as on two of the islands, will cost more next year. The transition starts in May.
The Greek golden visa is becoming more expensive and Portugal’s may be on its way out. That combination is driving a surge in Greek GV applications.
Investors will have until next year, at least, to file under the current EUR 250k threshold, and changes will only apply in parts of the country.
Programs that offer citizenship within months in exchange for investments or donations, with minor/no physical presence requirements.
Programs that offer citizenship in exchange for investments following a 1-2 year period, with minor/no physical presence requirements.
Bulgaria Investor Program (discontinued)
Malta MEIN
Programs that offer residence permits within months in exchange for passive investments, with limited physical presence requirements.
Andorra Residence Without Lucrative Activity
Anguilla Permanent Residency Program
Australia BIIP Investor Streams
Bahamas Economic Permanent Residence
Barbados SERP Program
Bermuda Economic Investment Certificate (EIC) Program
Brazil Investor Visa (VIPER)
Cambodia My 2nd Home
Cayman Islands Investor Visa
Colombia Investor Visas M and R
Costa Rica Investor Visa
Curaçao Investor Permit Program
Cyprus Golden Visa
Georgia Investor Visas
Greece Golden Visa
Guernsey Investor & Entrepreneur Residency
Ireland Immigrant Investor Program
Italy Investor Visa
Latvia Investor Visa
Luxembourg Investor Visa
Malaysia M2H Visa
Malta Permanent Residence Program
Mauritius Permanent Residency Program
Monaco Carte de Séjour
Netherlands Investor Visa
New Zealand Investor Visa
Nicaragua Investor Permanent Residency Program
Panama Qualified Investor Visa
Philippines Special Investor Residence Permit
Portugal Golden Visa
South Korea Investor Visa
Spain Golden Visa
Taiwan Golden Visa (APRC Plum Blossom Card)
Thailand Elite Residence Program
UK Investor Visa (discontinued)
United States EB-5
Programs that offer residence permits within months to those who can demonstrate income or personal wealth above a certain level, usually requiring that the holder not take up employment locally.
Argentina Rentista and Pensionado Residency
Austria Independent Means Visa
Barbados Welcome Stamp
Gibraltar Category 2 HNWI Residence
Greece FIP Visa
Indonesia Retirement Visa (KITAS)
Ireland Independent Means (Stamp 0)
Italy Elective Residency Visa
Jersey High Value Residency
Mexico Legal Residency Visa
Nicaragua Pensionado and Rentista Visas
Panama Rentista Retirado Visa
Paraguay Permanent Residency Program
Portugal D7 Visa
Spain Non-Lucrative Visa
Uruguay Independent Means Visa
Programs that offer residence permits within months to those who physically relocate to start and/or run a business. Startup and entrepreneur visas fall under this category.
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