Greece Golden Visa for Turkish citizens: ultimate guide in 2025

The Greece Golden Visa is a residency-by-investment program designed for non-EU nationals. It grants a renewable 5-year residence permit.

Greece offers one of the lowest investment thresholds in Europe. Minimum investment requirements start at €250,000 in real estate. 

In addition to buying residential property — the most common path to a Greek residence permit — the Golden Visa offers several alternative investment routes, including fund units purchase. These options may suit applicants with specific financial strategies or business interests in Greece.

Investors can earn up to 10% annually from Greek rentals or 4—5% from funds. Ownership must be maintained, but assets can be sold and changed for another qualifying property.

1. Visa-free Schengen travel. Turkish citizens enjoy hassle-free travel throughout the Schengen Area without the usual visa application processes, beneficial for frequent business or leisure trips.

2. Geographical proximity. A direct flight from Istanbul to Athens takes only about 1 hour and 30 minutes, allowing frequent and convenient visits.

3. Similar climate. Greece and Turkey share a Mediterranean climate. Summer highs average around +28…30°C, while winters typically range between +10…12°C in coastal cities like Athens.

4. Psychological comfort. Turkish residents report easy integration due to shared cultural elements, such as festive traditions like Eid celebrations that are widely recognised.

5. Easy integration process. Turkish communities thrive in regions like Thessaloniki and Komotini, where local populations actively welcome Turkish newcomers, easing the integration process.

6. Educational opportunities. Children of Golden Visa holders can study at prestigious European universities, like the National and Kapodistrian University of Athens or the Aristotle University of Thessaloniki, at reduced fees compared to international rates.

7. Asset diversification. Turkish investors can protect their wealth by diversifying into euro-denominated assets, especially important amid the volatility of the Turkish lira.

8. Stability and security. The Greek Golden Visa offers a safe haven from Turkey’s political and economic fluctuations, providing peace of mind and long-term stability.

10. Legacy planning. The Golden Visa provides an inheritable asset that ensures intergenerational wealth transfer, securing the financial future of subsequent generations.

11. Citizenship prospects. Greece Golden Visa holders have the opportunity to apply for Greek citizenship after 7 years of actual residence. 

Greece allows dual citizenship, meaning Turkish investors can acquire a European passport without giving up their Turkish nationality.

12. Tax optimisation. New Greek properties are exempt from 24% VAT; a 3.09% transfer tax applies. Tax residents may opt for a €100,000 flat tax on global income instead of rates up to 45%.

13. Greece Golden Visa for family members. Turkish investors can extend their residency to a spouse, children under 21, and even dependent parents, ensuring the entire household benefits from EU mobility and security.

Anna Semenyuk,

Citizenship by Investment Programs Advisor

One of the most frequently asked questions from Turkish investors is about their children's eligibility for the Greek Golden Visa. 

Children can only apply for the Golden Visa as first-time applicants until the age of 21, meaning up to 20 years old, before they turn 21. If they were included in the original Golden Visa application, they may keep their residence card until the age of 24. However, from 21 to 24, their permit becomes independent from the main applicant. 

After turning 24, children can no longer renew their card under the Golden Visa scheme. Their only option is to apply for a new residence permit based on another legal ground, such as studying or working in Greece.

Turkish investors can access a variety of qualifying routes under the Greece Golden Visa, with a clear focus on renovation projects, new builds, and steady income opportunities.

Buying property is the most popular route to obtain a Greek residence permit. Investors can choose from various property types depending on the location, condition, and intended use. The purchased property can be rented out under long term agreement and bring up to 10% annually. 

€250,000 — renovation or conversion projects. Turkish citizens Invest in a listed or commercial property to be converted into residential use, or a historical building in need of restoration.

€400,000 —800,000 — new residential property. Investors buy new-build homes in general regions from €400,000. In top-tier zones such as Attica, Thessaloniki, Mykonos, Santorini, islands with over 3,100 residents, the threshold rises to €800,000. 

Properties must meet a minimum of 120 m² and be free from short‑term rental or commercial use.

Other routes. The Greece Golden Visa also offers a range of alternative investment options. These may better suit applicants with defined financial strategies or business interests in Greece. 

In addition to purchasing real estate, investors may:

• purchase €350,000 in a mutual fund focused on Greek assets;

• purchase €350,000 in an Alternative Investment Fund investing in Greece

• place a €500,000 fixed-term deposit in a Greek bank;

• sign a long-term lease or timeshare contract for tourist accommodation;

• invest €500,000 in a Greek company;

• invest €500,000 in a Greek real estate company;

• invest €500,000 in a business holdings capital company;

• buy €500,000 in Greek government bonds;

• invest €800,000 in listed corporate or government bonds.

Greece’s real estate market continues to show stable growth, attracting foreign investors seeking value, safety, and long-term returns.

Steady price growth. Property prices in Greece rose by 13.4% year-on-year in the third quarter of 2024, driven by strong demand and limited supply in key cities like Athens and Thessaloniki. Newly built flats in urban areas command a premium due to their energy efficiency and rental appeal.

Strong rental yields. Gross yields on residential property average 3.7% across Greece. In central Athens, well-located small apartments often generate returns of 4.5% annually, especially in areas like Koukaki, Exarchia, and Pangrati. Properties in coastal cities and islands used for holiday rentals also see high occupancy rates during peak tourist seasons.

High demand from foreign direct investment, FDI. Turkish, Chinese, and Lebanese investors are among the most active non-EU buyers. Many seek to secure EU access, hedge against economic instability at home, and generate euro-denominated income through rentals.

Heavy foreign capital inflows:

• in 2024, foreign investment in real estate reached around €2.75  billion — over 54% of total FDI for that period;

• In 2023, net FDI into Greek property climbed to €2.13 billion, an 8% increase from the prior year.

Digital tools for buyers. Many Greek developers and agencies offer virtual tours, remote reservation services, and bilingual legal support — enabling Turkish investors to complete transactions without frequent travel.

Turkish applicants must prepare and submit a complete set of documents to apply for the Greece Golden Visa. All foreign-language documents must be officially translated into Greek and either apostilled or legalised through a consular procedure.

The required documents include:

• valid passports for all applicants;

• birth certificates for all family members;

• marriage certificate or proof of partnership;

• clean criminal record certificate from Türkiye and any country of residence;

• proof of sufficient legal income or financial resources;

• medical insurance valid in Greece for each applicant;

• Greek tax identification number;

• final purchase agreement or other investment documentation;

• payment receipts for the qualifying investment;

• power of attorney if applying remotely;

• two biometric photographs per applicant.

Additional documents may be required depending on the type of investment or the applicant’s personal circumstances. Professional legal support helps ensure all documents meet Greek authorities’ strict formal requirements.

Annual property tax. Uniform Real Estate Property Tax, ENFIA, applies to all property owners. The tax is based on property type, size, location, and declared value as of 1 January each year:

• rates for buildings range from €2 to 16.20 per square metre;

• land is taxed at €0.0037 to 9.25 per square metre, depending on location and use;

• additional charges apply if the total value of all properties exceeds €500,000.

Rental income tax. If the property is rented out, income is taxed progressively:

• 15% on income up to €12,000;

• 35% on income between €12,001 and €35,000;

• 45% on income above €35,000.

Non-tax residents of Greece are not taxed on foreign income and only pay tax on Greek-sourced income, such as rent.

Maintenance costs. Property owners should also budget for rental agency fees, utilities, building maintenance, and insurance. Monthly costs may vary between €150 and €300, depending on the property.

Turkish Golden Visa holders can apply for Greek citizenship after 7 years of continuous and legal residence in Greece. This requires staying in the country for at least 183 days per year.

To be eligible, the applicant must:

1. Hold a valid long-term residence permit.

2. Have no serious criminal convictions.

3. Pass a naturalisation exam covering the Greek language, history, and culture.

4. Show economic and social integration, such as paying taxes and having a Greek social security number.

The process includes submitting an application and a declaration of naturalisation to the Directorate of Civic Status at the local Decentralised Administration. Required documents include a passport, proof of legal residence, tax returns, and a birth certificate translated into Greek.

The application fee is €700 for the first time and €200 for each subsequent attempt. While the law provides a 1-year processing window, in practice it may take 2 to 4 years.

Greece allows dual citizenship, so Turkish nationals can retain their original nationality while gaining access to full rights as EU citizens.

1. The Greece Golden Visa remains one of the most accessible EU residency-by-investment programs for Turkish nationals. 

2. In 2024 alone, 1,356 Turkish investors obtained Greek residence permits, marking a 46% year-on-year increase. This rise confirms Greece’s appeal as a stable, nearby country with a familiar culture and legal security.

3. Greece offers an entry point from €250,000. Investors may choose renovated properties, new builds from €400,000 in most regions, or €800,000 in prime zones such as Athens, Thessaloniki, and major islands. 

4. The Greece Golden Visa grants 5-year residency to the investor, their spouse, children under 21, and dependent parents. 

5. After 7 years of actual residence, Turkish nationals may apply for Greek citizenship and retain their Turkish passport.