9 Residence permit types in Greece: Ultimate Guide

A residence permit allows the holder to live in a country for at least a year. According to Greece’s legislation, residence permits are issued due to the following reasons:

1. For work purposes.

2. For studies, voluntary work, research and vocational training.

3. For a family reunion.

4. For humanitarian, exceptional and other reasons.

5. For victims of human trafficking and migrant smuggling.

Several types of residence permits stand out: a holder of such a permit is subject to more benefits and fewer restrictions. These permits are granted in exchange for investment in the Greek economy and are often referred to as Greece Golden Visas.

Greece Golden Visa — one of the ways to get a residence permit

Behind the dry lines of the law, various practical ways to get a residence permit are hidden. For instance, “work purposes” apply to employees, entrepreneurs, and investors. “Exceptional and other reasons” give real estate owners, renters, and financially independent persons the right to obtain Greek residence.

Most Greek residents have equal rights and obligations. Greek residence card holders can live in the country, study, receive health care, and travel in the Schengen without visas. They must obey the law and pay taxes.

For EU citizens, the process of obtaining a residence permit in Greece is generally simpler compared to non-EU citizens. EU citizens have the right to live and work in Greece without needing a visa or employment permit.

However, if EU citizens stay in Greece for longer than three months, they need to apply for a Registration Certificate, providing:

1. A valid ID card or passport.

2. Proof of employment in Greece, if employed, such as a work contract.

3. Proof of self-employment, if applicable.

4. Evidence of sufficient resources and health insurance, if not working, to prove that you will not become a burden on the Greek social assistance system.

5. Proof of enrollment in a recognised educational institution and health insurance, for students.

EU citizens apply at the local police station or municipality office. The Registration Certificate should be issued immediately or shortly after applying.

The Registration Certificate does not need to be renewed as long as your circumstances remain the same.

After living continuously in Greece for 5 years, EU citizens can apply for a permanent residence certificate, which confirms their right to live in the country indefinitely under conditions similar to those of Greek citizens.

For non-EU citizens seeking a residence permit in Greece, several options are available depending on the purpose of their stay. First, foreigners apply for a national type D visa from a Greek consulate or embassy in their home country to enter Greece legally.

Requirements. One can invest in real estate to get a residence permit in Greece. The minimum investment amount is €250,000. Applicants have five options to choose from:

1. Buying a property, residential or commercial.

2. Inheriting a property or receiving it as a gift.

3. Renting a hotel or tourist residence for 10 years.

4. Concluding a timeshare agreement.

The most popular choice is purchasing real estate. An investor can make a deal as an individual or through an EU-based company if they own 100% of the shares.

Greece set an investment threshold of €800,000 for purchasing real estate in Attica and Thessaloniki, as well as on Mykonos, Santorini, and other islands with populations exceeding 3,100 residents. The investment requirement is €400,000 for properties in less popular regions.

Two specific categories of properties will continue to have a lower minimum investment of €250,000, regardless of the location:

1. Architectural monuments needing restoration, which must be completed within 5 years.

2. Properties being converted into residential units, with the renovation completed before the submission of a Golden Visa application.

In addition to raising the minimum investment threshold, a new rule has been introduced that limits investors to purchasing just one new property, which must be at least 120 square metres. As a result, foreigners are no longer eligible for a residence permit by acquiring studio apartments or smaller residential units. The rule doesn’t apply to restoration and converted properties.

Transition period. To qualify for purchasing new real estate for €250,000 instead of €400,000—800,000, you must:

1. Deposit 10% by August 31st, 2024.

2. Complete the transaction by December 31st, 2024.

3. Apply for a residence permit.

Should an investor make a deposit but not finalise the purchase by the end of 2024, they can buy a different property at the same value. However, the entire investment amount must be deposited by April 30th, 2025.

Investment properties in Greece

Greece, Santorini

€388,000 — €905,000

Villa in a gated complex overlooking the sea and vineyards in Santorini

109 m² — 224 m²

3—5

2—4

Greece, Santorini

€505,000 — €550,000

Mediterranean style villa next to the sea in Santorini with guaranteed rent

84 m² — 94 m²

3

1

Greece, Kissamos

€830,000 — €1,550,000

Traditional style villas on the seafront in Crete, Greece

126 m² — 157 m²

3

3

Application process. An investment can be fulfilled remotely if an investor signs a power of attorney for an Immigrant Invest lawyer. The lawyer will obtain an individual taxpayer number, check the legal purity of the real estate, sign a purchase and sales agreement, receive a certificate from the Land Register, and pay the taxes. The procedure takes about 1—3 months.

The investor can come to Greece to see the property live before purchasing, but it is not necessary. The applicant and their family members included in the application must visit Greece only to get fingerprinted.

Property owners are exempt from obtaining a D visa. For them to enter Greece to apply, a usual Schengen visa will do, or an exemption from it.

The application fee is €2,000 for the main applicant and €150 for each adult family member included in the application.

The supporting documents specific to the option are the following:

• if buying a property — a purchase and sale agreement, proof of registration with the Land Registry, and a Land Registry’s certificate that there have been no obstacles associated with the purchase;

• if renting a hotel or tourist accommodation — a timeshare agreement, proof of registration with the Land Registry, and a certificate from the National Tourism Organisation that it has been informed about the deal;

• if inheriting or gifting — proof of the transfer of rights, such as a will.

Requirements. To get a Greek residence permit, an applicant can transfer a capital of at least €350,000 to the country. The investment options are:

1. Purchase of shares in mutual or alternative investment funds — €350,000.

2. Purchase of government bonds — €500,000.

3. Capital investments in Greek companies — €500,000.

4. Opening a fixed-term deposit — €500,000.

5. Purchase of corporate and government bonds listed for trading — €800,000.

The application process is pretty standard. The application fee is €2,000 for the investor and €150 per dependent.

Possible investment scenarios and supporting documents may be the following:

1. Investing in a venture capital fund, or EKES, which invests only in Greek companies — a statement revealing the details of the increase of the company or fund’s share capital.

2. Investing in a real estate investment company, or AEEAP, which invests only in Greek properties — a statement revealing the details of the increase of the company or fund’s share capital.

3. Investing in any other Greek company — an attestation proving the increase in the company’s share capital or the issue of a debenture loan.

4. Purchasing shares in a mutual fund intended to invest in shares, corporate bonds and Greek government bonds — a certificate for the participation of the applicant in the fund and a statement confirming the money transfer.

5. Purchasing stocks or shares in an alternative investment fund, or AIF, incorporated in the EU and intended to invest exclusively in immovable property in Greece.

6. Purchasing Greek government bonds — a bond purchase certificate.

7. Collecting a portfolio of shares, corporate and government bonds — an attestation certifying the creation of a private Investor Share in the Dematerialized Securities System of the Greek Central Securities Depository S.A. and a certificate for the creation of the exclusive use account.

8. Depositing money in a Greek bank — a certificate of the time deposit information, a certificate of an order for the automatic renewal, and a bank statement.

Residence permit types described in the two sections above fall within the Greece Residence by Investment Program. They are valid for five years, and their holders are not obliged to live in Greece.

Investors are not allowed to work in Greece, but they can still earn income. Leasing a property for the long term is permitted; the rental yield is 2 to 5% per year. Investors can also receive dividends and interest and be shareholders or managing directors of businesses.

After obtaining citizenship in 7 years, the property and securities can be sold, and the deposit closed. On average, real estate prices in Greece rise by 1,2% every quarter, so in five years, the cost can increase by 24%.

To be considered a financially independent person in Greece and qualify for a residence permit, one must confirm they have over €24,000 in their bank account. If an applicant is a retiree, they must prove their pension is over €2,000 per month.

When family members accompany a candidate, the necessary amount increases by 20% for the spouse and 15% for each child. For example, a couple with two children will need €36,000.

Holders of these residence permits do not have access to the Greek labour market.

The application fee is €1,000, and for pensioners, €150.

Employers must get approval from the decentralised administration to hire a foreign worker. They need to file a tax clearance note, proving they are able to pay the monthly wage as set out in the labour contract.

The contract is concluded for at least a year. An employer is subject to a €200 fee each time they ask permission to hire a foreigner.

The minimum wage in Greece is €830 per month. This rule applies to foreign workers as well.

Highly qualified employment. Certain jobs are considered highly qualified. Thus, additional requirements apply. A highly qualified employee’s wage must be at least 1.5 times higher than Greece’s average gross annual salary.

The number of highly qualified foreigners that can be employed in Greece is restricted. The quota for 2021—2022 includes 380 spots in the Attica region and 226 spots available across Greece.

This type of residence is also called an EU Blue Card.

Supporting documents. In each case, the applicant provides an act of the Secretary-General of the competent Decentralised Administration authorising employment and a copy of a labour contract lasting at least one year.

Highly qualified specialists need a higher education diploma or proof of five years of work experience in the field and a certificate from the Professional Qualifications Board if the profession is regulated.

Family reunification. If a foreigner has obtained a residence permit in Greece, they can apply for family reunification so their spouse and children will be issued a residence permit, too. An applicant must provide marriage and birth certificates or other proof of kinship.

Children born in Greece with foreign parents and spouses of Greek citizens are eligible for 5-year residence permits.

Studies. Those who have entered a Greek higher education institution are also eligible for getting a residence permit. They need to prove they have enough money to live and study in Greece. The minimum amount is €400 per month, besides the tuition fee.

Students are allowed to work part-time but are not allowed to apply for a family reunion.

International protection. A residence permit may be granted to asylum seekers who have fled to Greece. To apply for international protection, you can schedule a registration appointment online.

An applicant may include up to 8 members in their request, filling in adult and minor family members separately. All persons arriving at the registration location will be required to reside in the facility until the registration process is completed, for a maximum period of 25 days.

Remote work. In 2021, Greece introduced a Digital Nomad Visa to attract remote workers from outside the EU who want to live in Greece while working for employers or clients outside the country. This visa provides a legal pathway for digital nomads to reside in Greece, leveraging the country’s appealing climate, lifestyle, and scenery while continuing their professional activities.

The eligibility criteria are:

• be employed by a company outside of Greece or work as a freelancer for clients primarily based outside of Greece;

• demonstrate a stable income to support their stay in Greece. The minimum required income is usually around €3,500 per month, but this figure can vary slightly based on official updates;

• comprehensive health insurance that covers healthcare in Greece is mandatory.

The visa does not permit holders to work for Greek companies or engage in the local labour market.

To obtain permanent residence in Greece, an applicant must meet the following conditions. They have:

1. Legally resided in Greece for five straight years. It’s allowed to leave the country for no more than 10 months in total and no more than 6 months in a row.

2. Knowledge of the Greek language at an A2 level and elements of Greek history and culture. If an applicant cannot meet this condition, the necessary residing period extends to 12 years. Greek citizens’ relatives are exempt from this requirement.

3. Income not lower than the annual minimum wage. In 2024, it is €9,960. The amount is increased by 10% for each family member, but their income is also considered.

4. A registration address in Greece.

The application fee is €150; the processing time is 6 months. The status of a permanent resident is termless, and the residence card has to be renewed every 5 years.

All permanent residence holders are allowed to work and do business in Greece.

1. Moving to Greece. For Greece Golden Visa holders, relocation to Greece is an option; for holders of other types of residence permits, it is a must. Life in Greece is beneficial because of the mild climate and low cost of living.

2. Tax incentives. New residents of Greece can benefit from one of the three preferential tax regimes. Those who work or run a business in Greece can get a tax exemption for half of their income. Retirees’ income is taxed at a flat rate of 7%. Wealthy foreigners can pay a lump tax of €100,000 per annum, regardless of their income.

3. Visa-free travelling. A holder of a Greek residence permit can travel to the Schengen Area without visas and stay there for up to 90 days out of 180. Time spent in Greece is not counted.

4. EU citizenship prospect. After living in Greece for at least 7 years, residents permit holders may apply for Greek citizenship. To get it, they must pass an exam on Greece’s geography, culture, history and political system, as well as prove knowledge of Greek at a B1 level. After the exam, candidates are also interviewed to assess how well they have integrated into Greek society.

5. Access to healthcare and education. Holders of a Greek residence permit gain access to the country’s public healthcare and educational systems. This includes subsidised healthcare services and the opportunity for children to attend public schools at the same standards and costs as Greek nationals. This benefit significantly enhances the quality of life for families and individuals residing in Greece, providing essential services and support.

Discover the advantages, terms, and details of the Greece residence-by-investment program

1. Greece offers both temporary and permanent residency permits to cater to various groups and purposes.

2. The temporary residency is generally obtainable within about two months, setting the stage for a permanent residency after five years.

3. Investors get a 5-year residency by purchasing properties or securities and opening bank deposits. The minimum investment is €250,000.

4. Holding a Greek residence permit offers relocation opportunities, tax incentives, visa-free travel within the Schengen Area, prospects for EU citizenship, and access to Greece’s public healthcare and educational systems.