“Golden visa” law is a program designed by the Greek government to attract investment into Greece. Similar to other EU countries with real estate investment programs, but way more simple and straightforward, the Greek program started in 2013 and since now it has attracted a large number of investors from third countries, reaching its peek in 2018 and gradually growing.
The Law “Creation of a Development Friendly Environment for Strategic and Private Investments” (4146/2013) of the Ministry for Development, Competitiveness, Infrastructure, Transport and Networks and more specifically Article 36A, grants residence permit to citizens of non-Schengen countries and their family members (children under 21 years old and spouses), who buy property in Greece.
The residence permit may be renewed for the same duration (five years), if the property remains unchanged in its legal ownership status.
The residence permit does not grant a right to employment of any kind.
New rules for Golden Visa investment and Application Requirements:
1. The main applicant must be at least 18 years old.
2. Purchase real estate in Greece.
- €800,000 Investment Threshold: Purchase a property of at least 120 square meters in the Attica region, Thessaloniki in central Macedonia, Santorini, Mykonos, and islands with a population exceeding 3,100, with a price of at least €800,000.
- €400,000 Investment Threshold: Purchase a property of at least 120 square meters in other regions of Greece, with a price of at least €400,000.
- €250,000 Investment Threshold: a. Invest in a government-protected building, completing its restoration within five years of the initial residency permit issuance; b. Invest in other properties converted from commercial to residential use (this can be shops, factories, hotels, etc.; if industrial, there must be a 5-year vacancy period before the conversion). The conversion must be completed before submitting the Golden Visa application.
3. Purchase health and long-term insurance for the whole family.
The Greek government maintains a minimum investment threshold of €250,000 for purchasing and restoring properties of historical or cultural significance, or converting commercial or industrial properties into residential use. Market analysts point out that this keeps Greece's Golden Visa competitive globally. Besides short-term rentals, properties used for Golden Visa applications can be used for various purposes. Furthermore, Golden Visa holders can travel freely to 29 Schengen Area countries, and the visa can be renewed indefinitely while owning the property.
Investment Method: Real Estate Investment Immigration – Obtain Permanent Residency in One Step
Application Process:
1. Sign a consulting service contract with ROOFTOP
2. Participate in a customized property inspection by ROOFTOP, sign a Proof of Account (POA), and pay a deposit
3. Pay the remaining balance and prepare documents
4. Submit application materials
5. Land in Greece and provide fingerprints
6. Obtain permanent residency
Our partner lawyers can guide you in all steps of the process.
If you are looking for properties suitable for “Golden Visa” investment, please contact us and we will send you options.
