Greece residence permit by property investment in 2025

1. Visa-free travelling. Holding a residence permit in Greece allows visiting other Schengen countries without a visa, with the ability to spend up to 90 days out of 180 there.

2. Additional income from renting. After buying the property, investors can rent it out for the long-term. In 2025, investors could receive more than 5% profit from renting out apartments.

3. Favourable tax regime. Greece has established Double Taxation Treaties with numerous countries, which means that individuals can avoid being taxed twice on the same income.

Moreover, Greece offers a special tax regime for foreign investors, allowing them to benefit from a fixed tax rate on foreign income.

Investors can pay a lump sum of €100,000 per tax year regardless of their foreign income amount if they invest at least €500,000 in Greece. This investment can be in real estate, businesses, or securities and must be maintained.

4. Low investment threshold. Compared to other EU countries, Greece offers relatively lower investment thresholds for obtaining residency. However, in September 2024, the minimum investment increased to €400,000—800,000 in popular regions.

Elena Kozyreva,

Managing Director for Real Estate projects

The sales manager at Immigrant Invest assigned to the investor assists with the selection process. They help identify a suitable property for the Greece residence by investment program. 

Once the property selection is finalised and the investor makes a reservation by paying the fee, Immigrant Invest experts can proceed with the next steps of the property purchase.

5. Pathway to citizenship. After seven years of continuous residence, investors and their families have the opportunity to apply for Greece citizenship. This provides a clear and attainable path to becoming an EU citizen, which comes with additional benefits, including the right to live, work, and study anywhere in the EU.

6. No minimum stay requirement. Unlike many other residency programs, Greece does not impose a minimum stay requirement on investors. This flexibility allows investors to maintain their residency status without the need to disrupt their lives or business activities in their home countries.

7. Affordable cost of living. Compared to other EU countries, Greece offers an affordable lifestyle without sacrificing quality. For example, living in Athens costs about €831 monthly for a single person without rent, significantly less than in Paris or London, where expenses rise to approximately €1,105 and €1,275, respectively.

Rent prices in Athens are 60.7% lower than in Paris and 56.3% lower than in London.

8. Living in a beautiful place. Investors can buy homes for themselves to visit Greece anytime or move there. Picturesque landscapes, beaches, mountains and historical sights may be the reasons to spend more time there.

9. Pleasant climate. Greece has a warm but not stifling climate. Spring and fall are more pleasant periods to visit the famous places of Greece. Winter time is also mild, with an average temperature of +15 °C.

Residency by investment in Greece can be obtained by the purchase of real estate. Investors get a residence permit within 4 months after submitting documents. There is no need to pass a Greek language proficiency test or live in the country permanently.

Requirements for the main applicant and family members. Investors can apply to participate in the program alone or with family members. A single investor or a married couple can own the property.

Requirements for the main applicant:

• over 18 years old;

• clean police record;

• medical insurance that is valid in Greece and covers at least €30,000;

• Greek bank account.

A spouse, children under the age of 21, and parents of both spouses can also apply for a Greek residence permit with the main applicant. Family members can submit documents for the residence permit separately or with the main applicant.

Cost of real estate for obtaining a Greece residence permit. To participate in the Golden Visa Program, investors must purchase real estate valued between €400,000 and €800,000, with an exception available at €250,000.

An investment of at least €800,000 is required for new properties in popular regions, including Athens, Thessaloniki, Mykonos, Santorini, and other islands with populations over 3,100 residents.

A minimum investment of €400,000 applies to new properties located outside these high-demand areas.

The reduced investment threshold of €250,000 applies exclusively to properties purchased for renovation or for converting industrial buildings into residential units.

Types of real estate qualifying for the program. The investor can buy residential or commercial real estate, one or multiple properties, as an individual or through a legal entity.

The property area for purchases amounting to €400,000 or €800,000 must be at least 120 square metres.

The Greece investor visa program allows investors to rent a hotel for ten years and apply for a residence permit. And even inherited real estate is suitable for getting a Golden Visa.

Property prices in Greece steadily grew in 2018—2025. Despite this, Greek properties are still cheaper than in most popular Mediterranean countries, especially France and Italy.

Greek property average prices per square metre depend on the regional unit:

• Central Athens — €2,340;

• North Athens — €3,250;

• South Athens — €3,940;

• West Athens — €2,275;

• Piraeus — €3,000;

• Thessaloniki — €3,100;

• Corfu — €3,000;

• Corinthia — €1,800.

Athens, the capital of Greece, is attractive to investors because it is not subject to seasonality: tourists come to the city all year round.

The average price of real estate in Athens differs and depends on the region. Housing prices in the southern areas are the most expensive because the apartments and houses are closer to the coast.

The cost of properties away from the sea is cheaper, and they are usually low in demand. If you want a good return on investment, you might consider apartments or houses attractive to tourists. Renting out real estate in Greece usually brings a yield of 5.22% annually.

Greek villas vary in price, but the average cost is still lower than in other European countries. For example, the average price per square metre in the city centre in Greece is €2,886, while in Spain it is €3,674, and in Italy — €3,800.

Associated costs when buying real estate and obtaining a residence permit in Greece include taxes and administrative fees.

When buying a property, investors pay a one-time tax of 3.09% of its value.

The property registration fee is 0.5% of the property value. Notary fees are 1.5—2%.

The application fee for a Golden Visa is €2,000 for the main applicant and €150 per adult family member.

Health insurance is also required for Golden Visa applicants. Its cost starts at €300 per person.

Terms of selling real estate. If investors wish to remain a Greek resident, they must keep the investment until obtaining citizenship. One can apply for it after 7 years of living in the country.

After becoming a citizen of renouncing the Golden Visa, the investor can sell real estate. The profit from this deal will be subject to a 15% capital gains tax.

Transfer tax. The first tax a foreigner needs to pay on the property is a transfer tax. It is 3.09% of the taxable value of the real estate.

The property tax is paid in Greece once a year. It consists of a main and an additional part. The amount of tax varies for cities and districts. For coastal areas, the average tax is €10—12 per square metre per year. An additional 0.5—1% tax applies to real estate exceeding €300,000.

Municipal taxes usually amount to 0.025—0.035% of the cadastral cost of the property. These taxes do not need to be paid separately, as they are included in the electricity bills.

Tax on rental income. If the property is rented out, tax will be due on the rental income. There are progressive tax rates for individuals:

• 15% on annual rental income of €12,000 or less;

• 35% on €12,000 to €35,000;

• 45% on more than €35,000.

For property owners in Greece, a residence permit will need to be renewed every five years. To get a new residence card, investors must fully own the property, and the relevant contracts and leases must be ongoing.

The resale of real estate during the validity period of a residence permit grants another person the right to obtain a residence permit. But in this case, the seller’s residence permit will be cancelled.

To extend a residence permit, applicant must provide the following list of documents:

• filled-in application;

• four recent colour photos;

• true copy of a valid passport;

• certified copy of the previous residence permit;

• insurance contracts.

Family members should also submit a package of documents, including certification by an insurance agency for the cost of medical care. The main applicant has to provide the sponsor’s statement that family circumstances have not changed. If a child was born during the validity period of the residence permit in Greece, provide a copy of the birth certificate.

The investor and their family submits documents for the renewal of residence permits at least two months prior to their expiration. Otherwise, a fine of €50 will have to be paid.

Greece is not the only country offering wealthy people a residence permit by investment in real estate. Malta and Cyprus also allows HNWIs to get Golden Visa on similar but not the same terms.

Malta offers individuals and families the opportunity to obtain permanent residency by making a qualifying investment under the Malta Permanent Residence Programm, MPRP.

To apply for the MPRP, applicants meet several key requirements:

1. Rent real estate for at least €14,000 per annum or buy a property for at least €375,000.

2. Pay an administrative fee of €15,000 as an initial payment and €35,000 at the final stage, regardless of whether they choose to buy or rent property.

3. Make a one-time, non-refundable contribution of €30,000 if purchasing property or €60,000 if renting.

4. Donate €2,000 to a local NGO. This donation contributes to social projects in Malta.

5. Demonstrate assets worth at least €500,000 with €150,000 in liquid financial assets or show a portfolio of €650,000 with at least €75,000 in financial assets.

In Cyprus, the minimum investment is €300,000, but there are no restrictions on the type or location of the property. It can be any commercial or residential real estate.

Investors and their family members obtain permanent residency with citizenship prospects.

Greece Golden Visa vs. Malta and Cyprus Golden Visas

Condition

Investment

Greece Golden Visa

€250,000—800,000+

Malta Permanent Residency

€182,000+

Cyprus Golden Visa

€300,000+

Condition

Time to residency

Greece Golden Visa

4+ months

Malta Permanent Residency

6+ months

Cyprus Golden Visa

9+ months

Condition

Investment return

Greece Golden Visa

After renouncing residency or obtaining citizenship

Malta Permanent Residency

5 years if real estate is purchased

Cyprus Golden Visa

After renouncing residency or obtaining citizenship

Condition

Family eligibility

Greece Golden Visa

Spouse or partner, children under 21, parents

Malta Permanent Residency

Spouse or partner, children under 29, parents, and grandparents

Cyprus Golden Visa

Spouse or partner and children under 25

Condition

Time to citizenship by naturalisation

Greece Golden Visa

7 years

Malta Permanent Residency

5 years

Cyprus Golden Visa

8 years

Investors can’t acquire Greece citizenship by purchasing real estate or securities. They need to obtain a Golden Visa and then meet all requirements for citizenship by naturalisation.

Golden Visa holders can apply for citizenship after seven years of continuous living in the country. Greek legislation also requires citizenship applicants to prove their knowledge of the Greek language and the country’s geography and history. They must pass the “Panhellenic” exam with more than 80% of the total score.

Greece allows its citizens to have multiple citizenships at once. Investors do not have to reject their first citizenship if their country of origin does not require it.

1. Investors interested in participating in the Greece Golden Visa Program can buy real estate for a minimum of €250,000.

2. The minimum investment threshold is €400,000—800,000 in regions experiencing high demand for property.

3. The Golden Visa appeals to investors seeking to secure a residence permit for themselves and their families, offering the added advantage of living in a seashore villa and enjoying visa-free travel within the Schengen Area.

4. When buying a property, an investor pays a one-time tax of 3.09% of its value.

5. Golden Visa Holders get Greece citizenship after seven years of living in the country.