Greece Golden Visa - Why Its The EU's Prime Location

Greece offers a unique blend of rich history, stunning landscapes, and a relaxed lifestyle that attracts people from all over the world. For those considering relocating or investing abroad, understanding the lifestyle, visa options, and financial benefits is essential.

This post explores what life in Greece looks like, the different types of visas available, and focuses on the Golden Visa program, which has become especially popular among expats and investors. It also highlights the attractive tax advantages Greece offers, together with the latest property investment thresholds.

Life in Greece: Lifestyle, People, and Cost of Living

Greece is known for its warm climate, beautiful beaches, and welcoming communities. The lifestyle is slower-paced compared to many Western countries, with a strong emphasis on family, food, and outdoor living. Locals and expats alike gather in cafes and tavernas to enjoy fresh Mediterranean cuisine rich in olive oil, vegetables, and seafood.

The Greek population is friendly and hospitable, with a strong sense of community. Many expats find it easy to integrate thanks to the locals’ openness and the growing international presence in cities such as Athens and Thessaloniki, as well as on popular islands like Crete and Rhodes.

The cost of living in Greece is generally lower than in much of Western Europe. Housing, groceries, and transportation are affordable, particularly outside the most touristic or high-demand districts. As an indication, renting a one-bedroom apartment in Athens can start from around €300–€600 per month, while monthly groceries for a single person might average about €200. Utilities and internet are also reasonably priced.

This combination of affordability and quality of life makes Greece attractive for retirees, remote workers, and investors seeking a comfortable lifestyle without excessive costs.

Overview of Visa Options in Greece

Greece offers several visa types depending on your purpose of stay, including:

• Short-stay Schengen Visa For tourism or business visits up to 90 days within a 180‑day period.

• National Visa (Type D)For longer stays related to work, study, family reunification or other specific reasons.

• Residence Permit For those who plan to live in Greece for extended periods, often linked to work, study, or family reasons.

• Golden Visa Program A special residence permit for investors who meet certain financial criteria.

Each visa type has specific requirements and procedures. For expats and investors, the Golden Visa stands out due to its benefits and relatively straightforward qualification routes.

What Is the Greece Golden Visa?

The Greece Golden Visa program grants a five‑year renewable residence permit to non‑EU nationals who make a qualifying investment in the country. It remains one of the most accessible residency‑by‑investment programs in Europe.

The permit allows the main applicant and eligible family members to:

• Live in Greece (with no obligation to spend a minimum number of days there),

• Travel freely within the Schengen Area for up to 90 days in any 180‑day period,

• Benefit from many of the advantages available to residents.

Updated Investment Requirements for the Greek Golden Visa

The rules for real estate investments under the Golden Visa have evolved, with different minimum thresholds depending on the type and location of the property.

Below is a simplified overview reflecting the structure you requested:

1. €250,000 Investment – Limited Cases

The €250,000 minimum now applies mainly to:

• Certain commercial properties, and

• Residential properties in need of renovation, in designated areas and under specific conditions (for example, properties that require substantial refurbishment and are converted into habitable units or touristic use, subject to current regulations).

This lower entry point is no longer the general rule for all residential property across Greece; it is now more targeted and subject to stricter criteria.

2. €400,000 Investment – Selected Areas / Property Types

In many areas, especially outside the most prime zones, the required minimum investment has increased to €400,000. This typically applies to:

• Residential properties in standard demand areas, or

• Certain types of residential/commercial property in cities and regions that are not considered ultra‑prime.

The property may have to meet additional conditions (for example, single property rather than multiple smaller units, and limitations on short‑term rental in some zones), depending on current legislation.

3. €800,000 Investment – Prime Locations

In the most desirable and high‑demand areas, the minimum property investment can reach €800,000. This generally includes:

• Prime districts of major cities (e.g. central Athens and Thessaloniki in specific zones), and

• Highly sought‑after islands and tourist locations where demand and prices are highest.

These thresholds are designed to balance foreign investment with local housing needs and to direct investment into targeted segments of the market.

Important: Legislation and designated zones can change. A personalised assessment is essential before committing to a specific property or structure.

Other Qualifying Investment Routes

In addition to real estate, investors may also qualify for the Golden Visa by:

• Investing in Greek government bonds or shares/funds with a minimum value of around €400,000, or

• Making a strategic investment in a business or infrastructure project approved by the Greek authorities.

These options are suited to investors who prefer financial instruments or business activity over direct property ownership.

Key Benefits of the Greek Golden Visa

• Five‑year residence permit, renewable as long as the qualifying investment is maintained.

• Visa‑free travel across the Schengen Area for up to 90 days in any 180‑day period.

• Family reunification: Spouses/partners, children (up to the permitted age limit) and, in many cases, dependent parents can also obtain residence permits.

• No minimum physical stay requirement in Greece to maintain the permit.

• Access to healthcare and education in Greece, subject to local rules.

• Potential pathway to long‑term residence and citizenship after meeting residency and integration requirements over time.

  
  

Tax Advantages of Living in Greece

Greece has introduced a range of tax incentives to attract new residents and investors, including:

• Non‑Dom Tax Regime Qualifying new tax residents who have not been tax resident in Greece during the previous seven years may opt to pay a flat tax of €100,000 per year on their worldwide income for up to 15 years. This can be very attractive for high‑net‑worth individuals.

• Favourable treatment for certain foreign pensions and inbound workersSpecific regimes can significantly reduce tax on foreign pension or employment income for qualifying individuals.

• Relatively competitive property taxesWhen compared with some other Western European countries.

• No inheritance tax for direct descendants and spouses, subject to conditions and thresholds in force at the time of transfer.

• Extensive double taxation treatiesGreece has agreements with many countries to avoid the same income being taxed twice.

Combined with the overall cost of living, these tax incentives make Greece appealing for those looking to optimise their global tax position while enjoying a Mediterranean lifestyle.

Practical Examples of Golden Visa Investments (Updated)

• Example 1: Renovation Property at €250,000An investor acquires a commercial unit or a residential property in need of renovation in an eligible area for €250,000, committing to refurbish it according to the applicable rules. This can qualify for the Golden Visa under the lower threshold while potentially adding value through renovation and, later, rental income.

• Example 2: Residential Property at €400,000A family purchases a modern apartment in a popular but non‑prime district for €400,000. The property meets the current Golden Visa criteria for that zone. The family secures residence permits, can use the apartment as a second home and may rent it long‑term when abroad.

• Example 3: Prime Property at €800,000An investor buys a luxury property in a top‑tier coastal area or prime urban district for €800,000. They benefit from the Golden Visa, potential capital appreciation in a high‑demand market, and a prestigious second home in Greece.

  
  

Final Thoughts on Moving to Greece with the Golden Visa

Greece combines a relaxed lifestyle, affordable living in many regions, and a welcoming culture with attractive investment and tax opportunities. The updated Golden Visa rules still offer a clear and flexible route to European residency, but the minimum investment now depends much more on property type, condition, and location.

For investors and families seeking Mediterranean living, strategic property or financial investments, and easier access to Europe, Greece remains a compelling option—provided the investment is carefully structured to meet the latest legal requirements.