How to obtain the Greek second passport by investing in the country’s economy

Naturalisation. Applicants must have resided legally in Greece for at least 7 consecutive years with a residence permit. Additionally, foreigners must demonstrate sufficient knowledge of the Greek language, history, and culture, typically through exams.

Applicants must also prove their integration into Greek society by having a stable income and a clean criminal record; the Ministry of the Interior must approve their application after a thorough review.

Greeсe citizenship by investment is also obtained through naturalisation. Investors get a Golden Visa, live in Greece for 7 years, pass a citizenship attestation, and get a passport.

How to get a Greece Golden Visa and apply for citizenship in future

Marriage. Greece citizenship is not issued to those who officially register relations with the citizens of the country. But this simplifies the procedure for obtaining permanent residence: you can apply in three years and submit documents in five years to become a Greek citizen.

Repatriation. It is possible to obtain Greece citizenship if the parents and grandparents are citizens of the country. To do this, you need to provide documents with proof of Greek origin to the country’s diplomatic mission for migration.

Military service. Citizenship can be obtained by ethnic Greeks who serve in the Armed Forces of Greece or go to study at the Military Academy.

Requirements for applicants. Investors over 18, with official income and no criminal record, can participate in the Greece Golden Visa Program.

Greece offers investors nine options for obtaining a residence permit. Four of these are related to the purchase or rental of real estate, and the others are linked to economic activities.

Purchasing a real estate property in Greece requires a minimum of €250,000. This is the most popular investment option.

In 2024, Greece introduced a new real estate investment threshold, setting it at €800,000 in the regions of Attica and Thessaloniki, as well as in Mykonos, Santorini, and other islands with populations exceeding 3,100 residents. For less renowned regions, the minimum investment is €400,000.

An exceptional minimum investment of €250,000 is maintained for two specific categories of properties: architectural monuments requiring restoration, which must be completed within 5 years, and properties to be converted into residential ones, with the construction work completed prior to submitting a Golden Visa application.

Conducting economic activities. An investor can open a bank deposit or buy Greek companies’ shares and bonds. The minimum investment depends on the chosen option:

• purchasing shares in mutual or alternative investment funds — €350,000;

• buying government bonds — €500,000;

• investing in Greek companies — €500,000;

• opening a fixed-term deposit — €500,000;

• purchasing corporate and government bonds listed for trading — €800,000.

Additional expenses include a 3.09% transfer tax for property purchases and an application fee of €2,000 for the investor and €150 per adult family member.

You can get residence permits for the whole family right away by including:

• a spouse or a partner with a cohabitation agreement registered and signed in Greece, same-sex couples included;

• investors’ children under 24, unmarried and studying at a university if over 21;

• spouse’s children under 21 if unmarried and are under the investor’s custody;

• parents of any age.

The Greece residence permit opens up many opportunities for investors and their families. And after seven years of permanent living in the country, it will be possible to apply for citizenship. A passport gives investors additional opportunities: for example, to move to any EU country under a simplified registration procedure.

1. Visa-free travel to the Schengen Area is a benefit of a Greece residence permit. And with a Greek passport, one may visit 171 countries, including all the EU states, the USA, the UK, Canada, and Australia.

2. Living in Greece and enjoying its warm climate, picturesque nature, and the sea is an opportunity for investors with a Golden Visa or a Greece passport.

3. Access to healthcare and the educational system of the country is another benefit of residency. And if you get citizenship in Greece, you may study or get treatment in other EU countries on beneficial terms.

4. Family members may acquire the status with the investor. In the case of the Golden Visa, a spouse, children under 24, and parents are eligible to participate and get a residence permit. And for Greece nationality, children may obtain citizenship if unmarried and under 18 when the naturalisation procedure is finished.

5. Opening bank accounts in Greece may be easier if you have a residence permit in the country. The Due Diligence check can be less severe, and the probability of a refusal is lower than for the third country national without residency in Greece.

6. Tax deductions and benefits through the non-dom regime for investors. For a fee of €100,000 annually, non-dom residents can cover all their foreign income. This flat rate eliminates the need to pay higher tax rates that might otherwise apply to substantial foreign income under the regular tax system.

7. High returns on investment. The Greek real estate market has been a popular choice for foreign investors, especially in tourism-driven areas like the islands and historical cities. The market offers potential for capital appreciation and rental yields, particularly in tourist hotspots and urban centres where demand remains high.

Examples of investment properties in Greece

Greece, Santorini

€450,000 — €550,000

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

83 m² — 94 m²

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Greece, Kissamos

€1,250,000 — €2,200,000

Traditional style villas on the seafront in Crete

132 m² — 258 m²

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Greece, Athens

€376,000 — €447,000

Hotel apartments in the historical center of Athens

47 m² — 97 m²

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8. Boundless exploration and cultural prosperity. Greece is the cradle of Western civilisation, home to some of the world’s most famous archaeological sites, including the Acropolis in Athens, the ruins of Delphi, and the Palace of Knossos in Crete. Each site offers a window into ancient times and the birth of essential elements such as democracy, philosophy, and theatrical arts.

9. Political participation opportunity. Greek citizens aged 18 and over have the right to vote in national elections, which include parliamentary elections, presidential elections, and referendums. Greece uses a modified proportional representation system, allowing a wide array of political parties to be represented in the Hellenic Parliament.

Other benefits are available only for Greece citizens. For example, they may move to any EU country without obtaining a residence permit in advance and transfer the status by inheritance to their children.

Greece allows its citizens to have multiple citizenships. Thus, investors mustn’t refuse their first passports unless their motherland countries allow dual citizenship, too.

Each country will consider the investor to be its citizens. Upon arrival in Greece, a person is a citizen of Greece, and upon arrival to their motherland, a citizen of that country. And also, a person should fulfil their civil duties in both countries.

Taxes in Greece are paid in some cases: for example, you live there for most of the year, get income in the country, or have a property.

To get a Greek passport by naturalisation, investors should permanently live in the country for seven years — so they become tax residents for that time, and their global income is taxed in Greece. After becoming a Greek citizen, they may move to another country.

1. Investors interested in obtaining a Greek passport cannot do it directly. However, they can begin this process by participating in the Greece Golden Visa Program.

2. Greece residence by investment program allows investors to initially obtain a residence permit through various investment options, such as real estate, starting at €250,000.

3. While investors do not need to permanently reside in Greece to maintain their residence permit, obtaining citizenship requires them to live in the country for at least seven years, after which they can apply for naturalisation.

4. This path to citizenship is attractive due to Greece’s beneficial environment, which includes a mild climate, rich cultural heritage, and opportunities for profitable investments, particularly in real estate.

5. Additionally, Greek citizenship provides significant benefits such as visa-free travel to numerous countries, access to European healthcare and educational systems, and the ability to participate in Greece’s political process.