Tightening Of Greece Golden Visa Monitoring

Greek authorities intend to enhance the oversight of investments under the Golden Visa Program.

A new decision, signed by the Ministries of Development and Immigration and Asylum, has introduced updated terms and conditions for granting and monitoring investments, Schengen.News reports.

Greece's Golden Visa Program allows non-EU nationals to gain residency by selecting one of the investment options offered by the program.

After a residence permit is issued, the Ministry of Development's Foreign Direct Investment Directorate oversees the investment. If an investor fails to comply with the investment terms and conditions, authorities may revoke their residence permit.

According to a report from D group, key changes affect the application submission process, which unfolds in the following phases:

An investor can enter Greece with a visa or already possess valid residency status. If outside the Hellenic Republic, they can appoint a legal representative via a power of attorney issued at a consulate or relevant authority abroad, certified with an apostille.

The applicant submits the residence permit application to the Ministry of Immigration and Asylum, along with documents such as proof of investment and details of any accompanying family members.

The Residence Permits Directorate reviews the application's formal completeness and then sends it electronically to the Ministry of Development’s Foreign Direct Investment Directorate. A check is conducted to ensure the investment aligns with the criteria set by Law 5038/2023.

The Ministry of Development assesses whether the investment complies with Greek legislation. Once approved, the investor submits a new application to the Residence Permit Directorate for the residence permit issuance. This application is submitted electronically through the Ministry of Immigration's services with additional necessary supporting documents.

Once the residence permit is granted, the Foreign Direct Investment Directorate of the Ministry of Development monitors the investments. If the investor does not fulfill the requirements, the authorities may revoke the residence permit.

Greece’s Golden Visa Program is one of the most renowned programs of its kind in Europe. Interest in this scheme notably increased following Spain’s announcement to end the program on April 3, 2025, and Portugal’s earlier decision to remove the real estate investment option from this scheme.