Residence permit in Greece by purchasing real estate

Purchasing real estate in Greece remains one of the most reliable and popular ways to obtain investment residency in the EU. The Golden Visa program, which has been in operation since 2013 and is constantly being improved, grants investors and their families the right to reside in Greece and free movement within the Schengen Area. "Prikhodko&Partners", a law firm, provides comprehensive professional support at every stage – from property selection to obtaining investment residency cards and their subsequent renewal, and also takes into account all current changes in Greek migration legislation.

What is a residence permit by investment in Greece?

An investment residence permit in Greece (officially, Golden Visa Greece) is a temporary residence permit issued to foreign investors and their family members in exchange for investing in the country's economy, most commonly through the purchase of real estate.

The temporary residence permit is issued for 5 years and can be extended indefinitely, while maintaining the investment. After 7 years of continuous residence in the country (subject to certain conditions), the investor and their family can apply for permanent residence or even Greek citizenship.

What are the benefits of an investment residence permit?

The Golden Visa, as a method of immigration, offers a number of significant advantages that make it attractive to foreign investors. Among the advantages of this type of residence in Greece, we can highlight:

1. visa-free entry and stay throughout the Schengen area and no requirement for permanent residence in Greece;
2. the ability to conduct business and work in Greece;
3. access to European healthcare and education for children;
4. no requirement for permanent residence in Greece to renew a residence permit.

It should be noted that the application without additional investments includes family members, in particular: wife/husband, children under 21 years of age, the investor's parents and the wife/husband's parents.

What is the minimum investment threshold in 2025?

From August 31, 2024 (in accordance with Law 5100/2024 and its latest amendments), the minimum investment amount for real estate depends on the region and type of property:

• €250,000 – retained only for a limited number of regions (e.g., individual islands or sites undergoing restoration under special programs);
• €400,000 – for most regions of Greece (one or more properties, the total amount must be no less);
• €800,000 – for popular regions: Attica (including Athens), Thessaloniki, Mykonos, Santorini, and islands with a population of over 3,100.

Investments can be made in one or more residential or commercial properties. Both completed and under-construction properties are permitted, subject to completion and receipt of the occupancy certificate. Therefore, Greece has one of the lowest thresholds among similar programs in Europe, making it more competitive compared to countries such as Portugal or Spain.

Is it possible to return the investment and keep the residence permit?

Greek legislation allows:

• rent out the property long-term (from 1 year);
• rent out the property short-term (except for properties valued at €800,000 in popular locations purchased after August 2024);
• sell the property after 5 years to another foreign investor – the residence permit automatically transfers to the new owner, while the previous owner retains its status for another 5 years or until the card expires. This way, the real estate investment remains liquid and can generate income.

What is the procedure for obtaining an investment residence permit in Greece?

The process for obtaining a residence permit for purchasing real estate in Greece is straightforward and relatively quick, typically taking five months. Here are the main steps:

1. Verification of the source of funds and the investor's identity. Before beginning the process, document preparation is required, including proof of source of funds, a clean criminal record, and due diligence. This ensures the applicant meets program requirements and minimizes the risk of rejection.
2. Selecting the investment method, including choosing a real estate property, obtaining a Greek tax identification number, and opening a bank account in Greece. We can assist you in selecting reliable properties and verifying their compliance with the program.
3. Document preparation. It is necessary to collect documents in Ukraine and Greece, including a passport, proof of investment, European health insurance, and a receipt for payment of the state fee, as well as obtain a tax identification number in Greece.
4. Investment. After selecting a property or asset, the investor enters into the transaction (e.g., a real estate purchase agreement) and makes payment through a Greek bank.
5. Submitting a residence permit application. The application is submitted to the Department of Foreigners and Migration Affairs in Greece. The investor only needs to visit Greece to provide biometric data (fingerprints), which is the final step in the process.
6. After the application is approved, the investor and their family members receive residence permit cards.

How to obtain Greek citizenship by investment?

To obtain Greek citizenship, applicants must reside in the country for at least seven years, pass a B1 level Greek language exam, as well as an exam on the country's history, culture, and political system, and demonstrate integration into Greek society. Permanent residence in Greece (at least 183 days per year) is a mandatory requirement for this type of naturalization.

Golden Visa (investment residence permit) holders do not need to reside permanently in the country if they do not plan to apply for citizenship. Our firm's lawyers provide full support at every stage, from document preparation to consultations regarding citizenship exams, significantly facilitating the naturalization process for our clients.

The law firm "Prikhodko&Partners" assists clients throughout all stages of obtaining an investment residence permit in Greece. Our support includes:

1. selection of real estate properties compliant with current Greek legislation (taking into account the current thresholds of €250,000-€800,000);
2. full legal and tax due diligence of the selected property;
3. preparation and submission of residence permit documents, including translation and legalization;
4. travel arrangements for biometric data collection and card collection;
5. subsequent residence permit renewals and consultations on taxation and property management.

If you need legal advice on migration law regarding obtaining a residence permit in Greece, please fill out the form on the website and a lawyer will contact you shortly.