Can I gain residency by buying property in Greece?

In most cases, owning a property in Greece does not grant you an automatic right to reside in the country. The exception to this is the golden visa, a residency by investment scheme.

The Greece golden visa scheme

Greece’s golden visa scheme is one of the most popular in Europe. By making a significant investment in the country, you can secure a residency permit with relative ease.

In the last year, the Greece golden visa has changed. It’s best to seek advice from your Greek estate agent and lawyer on what the rules currently are.

There are multiple avenues for a Greece golden visa. You could make a capital investment worth €400,000 into a company registered in Greece, make a deposit of €400,000 into a Greek bank, make an investment of €800,000 into corporate or government bonds or sign a lease agreement for a hotel or tourist establishment for at least ten years.

However, the most popular route is to investment in property. From September 2024, to obtain a golden visa in hotspots such as Santorini, Mykonos, Athens and Thessaloniki, you must invest in a property worth at least €800,000.

In other areas, the minimum spend is €400,000. If you are interested in converting a commercial property into a residential one or restoring a listed property, then the minimum spend requirement is just €250,000.

A good property lawyer will be able to advise where you can get a golden visa in Greece by spending the lower amount.

It’s important to note that golden visa properties will not be eligible for short-term letting.

Benefits of the golden visa: 

• You can extend the visa to include your family members: your spouse, children under 21 and dependent parents.
• You can enjoy visa-free travel in the Schengen Zone (most of the countries of the EU)
• Plus, you are not required to live in Greece for a set period of time.
• You can live and invest in Greece.
• Additionally, you can access healthcare and the education system.
• After seven years, you can apply for citizenship.

Alternate routes to residency in Greece

If real estate investment isn’t your preferred route, Greece offers other options for obtaining residency. These include financial investments, business activities, and more. For detailed information on these alternatives, you can explore Greece’s visa and residency options.

For a breakdown of long-term visa options in Greece, head to our visa and residency page.