Europe

Greece golden visa (GIRP)

Minimum investmentEUR 250,000

Processing time6-9 Months

Greece golden visa overview

The Greece Investment Residence Permit (GIRP), or Greece Golden Visa, is a residency by investment program launched in 2013 that grants non-EU nationals and their families a 5-year renewable residence permit through a qualifying real estate investment in Greece. The minimum investment is EUR 250,000 for the conversion of commercial properties to residential use or the restoration of listed historical buildings, EUR 400,000 for properties in standard areas, or EUR 800,000 for properties in Attica, Thessaloniki, Mykonos, Santorini, and islands with populations over 3,100.

The program includes the spouse, children under 21, and the parents of both the investor and spouse, with no minimum stay requirement and visa-free travel within the Schengen area for 90 days in any 180-day period. After 7 years of lawful residence, holders may apply for Greek citizenship, subject to actual residency and language requirements.

Greece golden visa benefits

Dependents included: spouse, children under 21, and parents of the investor and spouse
Member of EU and Schengen area
Right to reside indefinitely in Greece
High standard of education and healthcare, with children having access to free education
Fast processing, typically within 6 to 9 months
Free travel within the Schengen zone for 90 days out of every 180 days
No physical residency requirement
Right to establish a business in Greece
No language requirement
Pathway to apply for Greek citizenship after 7 years, subject to meeting actual residency and language requirements
No wealth tax and low property tax
No education or management experience required
The GIRP is valid for 5 years and can be renewed

Greece golden visa requirements

The applicant must be a non-EU citizen
The applicant must be over 18 years old and in good health
Must have medical insurance
Make a qualifying real estate investment which must be held for the entire duration of the residence permit

Greece golden visa investment options

Minimum investment of EUR 800,000 in a property in the entire Administrative Region of Attica (including Piraeus and most of the capital region), the Regional Units of Thessaloniki, Mykonos, Santorini, or islands with a population of over 3,100 inhabitants
Minimum investment of EUR 400,000 in a property in all other areas of Greece
The investor must purchase a single property with a minimum area of 120m2. The property cannot be offered for short-term rentals
A minimum investment of EUR 250,000 applies if the investor converts commercial properties to residential use, or restores listed buildings of historical or cultural significance, regardless of size or location

Greece golden visa application process

Process (6 to 9 months)

Select property in Greece and sign Power of Attorney
Complete the property purchase
Book a submission date in Greece for the application
Lawyer submits application documents and obtains a temporary residence certificate (TRC) for the applicant, valid for 1 year
The applicant and dependents must visit Greece to submit biometrics within the validation period of the TRC
Approval of the residence permit is typically granted within 2 months
The permit may be renewed every 5 years provided the investment is still held

Frequently asked questions

What is the minimum investment amount for the Greece Investment Residence Permit?

The minimum investment is EUR 800,000 for a property in the entire Administrative Region of Attica (including Piraeus and most of the capital region), the Regional Units of Thessaloniki, Mykonos, Santorini, or islands with a population of over 3,100 inhabitants. The minimum investment is EUR 400,000 for properties in all other areas. A reduced minimum of EUR 250,000 applies if the investor converts commercial properties to residential use or restores listed buildings of historical or cultural significance, regardless of size or location. In all cases, the investor must purchase a single property with a minimum area of 120m2.

Does the applicant's family also benefit from the Greece Investment Residence Permit?

Yes. The spouse, children under 21 years old (including adopted children), and the parents of both the investor and the investor's spouse can be included in the application.

What happens when a dependent reaches 21 years old under the Greece Investment Residence Permit?

Dependents do not automatically lose their residence permit when they turn 21. Between the ages of 21 and 24, the dependent must renew their permit annually. If they wish to keep their residence permit after turning 24, they must make their own qualifying investment.

Does the Greece Investment Residence Permit application process include an interview?

No. There is no interview as part of the application process.

With the Greece Investment Residence Permit, which countries can the holder travel to without a visa?

The permit holder can travel within the Schengen area for up to 90 days in any 180-day period.

Can the applicant work in other EU countries automatically under the Greece Investment Residence Permit?

No. The GIRP does not automatically grant the right to work in other EU countries.

Is there an obligation to reside in Greece after receiving the Greece Investment Residence Permit?

No. The applicant does not have to reside in Greece after receiving the permit. However, a visit to Greece is required during the application process to submit biometrics.

The Greece Investment Residence Permit is valid for 5 years. What happens after?

The investor must renew the permit. It can be renewed indefinitely as long as the investor can prove that the qualifying investment has been maintained.

Does the Greece Investment Residence Permit holder receive healthcare and education benefits?

Yes. Greek residents benefit in the same manner as Greek citizens, including social cover, free medical access, and access to the free education system.

Is it possible to obtain Greek citizenship through the Greece Investment Residence Permit?

Yes. Since March 2018, GIRP holders may apply for Greek citizenship after 7 years of lawful residence in Greece, subject to meeting residency and language requirements.

Can the investment be made anywhere in Greece?

Yes. The investment can be made anywhere in Greece. The minimum investment amount will differ depending on the location of the property.

Can the investor live in the property purchased under the Greece Investment Residence Permit?

Yes. The investor fully owns the property and is entitled to live there or rent it out. However, the property cannot be offered for short-term rentals.

Can the applicant make additional investments in Greece after the qualifying investment?

Yes. The investor is completely free to make additional investments or individual acquisitions in Greece after completing the qualifying investment.

How long does the investor need to keep the investment in Greece?

There is no maximum holding period. The residence permit is renewable as long as the conditions are satisfied, including maintaining the qualifying investment.

Which is better, the Greece Golden Visa or the Portugal Golden Visa?

It depends on the investor's priority. The Greece Golden Visa is the stronger option for passive investors: it still offers direct real estate ownership from EUR 250,000, has no minimum stay requirement, and processes in around 6 to 9 months. The Portugal Golden Visa no longer accepts real estate, but it offers a more practical path to EU citizenship, requiring only 14 days of presence in the first two years, while Greek citizenship requires 183 days per year for seven consecutive years. For a full side-by-side review of costs, family inclusion, and timelines, see our Greece vs Portugal Golden Visa comparison.

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