ΕλληνικάThe Greece Golden Visa programme has established itself as one of the most significant residence-by-investment schemes within the European Union, offering qualifying third-country nationals the opportunity to obtain a renewable residence permit in Greece through the completion of eligible investments. Since its introduction in 2013, the programme has attracted substantial international interest from private investors, entrepreneurs, high-net-worth individuals and internationally mobile families seeking lawful residence within an EU Member State while maintaining the flexibility to manage personal and commercial interests across multiple jurisdictions.
Unlike many immigration programmes that are primarily designed to address labor market needs or humanitarian considerations, the Greece Golden Visa forms part of a broader national investment policy intended to encourage foreign capital, stimulate economic development and strengthen confidence in the Greek economy. The programme has contributed significantly to the recovery of the Greek real estate market and has encouraged investment across a range of economic sectors, whilst simultaneously positioning Greece as one of Europe’s leading destinations for international investors seeking long-term residence solutions.
The legal framework governing the programme has, however, evolved considerably since its original enactment. Successive legislative reforms have fundamentally reshaped the investor residence regime by introducing differentiated investment thresholds, establishing distinct legal requirements according to the nature and location of the investment, imposing additional compliance obligations and restricting certain forms of property exploitation. These reforms reflect the Greek legislature’s continuing effort to balance the objective of attracting productive foreign investment with wider public policy considerations, including housing availability, sustainable economic development, regulatory transparency and the protection of the domestic property market.
Consequently, investors can no longer rely upon general market information or outdated publications when evaluating the programme. Determining eligibility for a Greece Golden Visa now requires careful consideration of the applicable statutory framework, the nature of the proposed investment, the documentary evidence required by the competent authorities and the practical interpretation of the legislation by the Ministry of Migration and Asylum and other public bodies responsible for implementing the programme. The legal consequences of an improperly structured investment may extend beyond the refusal of a residence permit application and may affect taxation, regulatory compliance, succession planning and the long-term protection of the investor’s assets.
It is equally important to distinguish the Greece Golden Visa from other forms of immigration status recognized under Greek law. The programme grants a renewable residence permit subject to compliance with the applicable legislative requirements, but it does not, of itself, confer Greek citizenship, unrestricted employment rights throughout the European Union or an automatic entitlement to permanent residence. Each of these legal statuses is governed by separate statutory provisions, distinct eligibility requirements and independent administrative procedures, making it essential for prospective applicants to understand precisely the legal rights and limitations associated with investor residence.
This publication has been prepared as a comprehensive legal guide to the Greece Golden Visa programme as currently regulated under the Greek Immigration Code and the subsequent legislative amendments that have transformed the investor residence regime. Rather than providing a general overview, it examines the programme from the perspective of legal practice, analyzing the governing legislation, the qualifying investment routes, the application and renewal procedures, the rights and obligations of permit holders, the relevant tax and regulatory considerations, the principal legal risks and the practical issues that investors and their advisers should evaluate before committing to an investment in Greece. It is intended to serve as an authoritative reference for international investors, private clients, financial advisers and legal practitioners seeking a detailed understanding of one of Europe’s most important residence-by-investment programmes.
Historical Development of the Greece Golden Visa Programme
The Greece Golden Visa programme was introduced during a period of profound economic transformation, when the Greek Government sought to encourage foreign direct investment, stimulate the real estate market and enhance the country’s attractiveness as an international investment destination. Against the backdrop of the sovereign debt crisis and a prolonged contraction of the domestic economy, the legislature recognized that carefully regulated investment migration could serve as an important mechanism for attracting foreign capital while supporting economic recovery and employment.
The original investor residence scheme was introduced by Law 4146/2013, which established the legal framework permitting qualifying third-country nationals to obtain a residence permit through investment in Greece. From its inception, the programme differed from many comparable European schemes by combining a relatively accessible investment threshold with the absence of a general obligation to reside continuously in Greece in order to maintain the residence permit. This combination quickly positioned Greece as one of the most competitive residence-by-investment jurisdictions within Europe and contributed to growing international demand from investors seeking lawful residence within the European Union.
As investor demand increased, the programme gradually evolved beyond its original focus on residential real estate acquisitions. Successive legislative reforms expanded the categories of qualifying investments, refined the procedural framework governing applications and renewals, and strengthened the regulatory safeguards designed to ensure transparency and compliance with both domestic legislation and European anti-money laundering standards. These reforms reflected a broader policy objective of attracting productive and sustainable investment rather than encouraging purely speculative transactions.
A significant milestone in the programme’s development occurred with the enactment of Law 5038/2023, the Greek Immigration Code, which consolidated the legislation governing the entry and residence of third-country nationals into a single statutory framework. The Code codified the legal regime applicable to investor residence permits, modernized numerous procedural provisions and established a more coherent legislative structure for the administration of investment-based residence permits. The investor residence permit, commonly referred to as the Greece Golden Visa, is now principally governed by Article 100 of Law 5038/2023, which constitutes the central statutory provision regulating permanent investor residence permits for qualifying third-country nationals.
The programme underwent further substantial reform in 2024 through Article 64 of Law 5100/2024, which replaced the previous version of Article 100 and fundamentally restructured the legal framework governing real estate investments. Rather than maintaining a uniform national investment threshold, the legislature introduced differentiated minimum investment requirements based upon the geographical location and characteristics of the property, while simultaneously creating specialized investment categories for particular forms of real estate development and restoration. The amendments also introduced restrictions concerning the commercial exploitation of certain qualifying properties, particularly in relation to short-term rental activities, reflecting the Government’s objective of balancing foreign investment with housing policy and the sustainable development of local communities.
Following these legislative reforms, the Ministry of Migration and Asylum issued Circular No. 9/2024, providing detailed administrative guidance on the implementation of Article 100 as amended. The Circular addresses numerous practical issues arising during the examination of applications, including transitional provisions, qualifying investment structures, property usage restrictions and documentary requirements. Although such circulars do not constitute primary legislation, they are of considerable practical importance because they guide the administrative authorities responsible for examining investor residence permit applications and provide valuable insight into the Ministry’s interpretation of the statutory framework.
The continuing evolution of the Greece Golden Visa demonstrates that the programme should not be regarded as a static immigration mechanism but rather as a dynamic legal framework that is periodically adapted in response to economic conditions, investment patterns and public policy priorities. Prospective investors must therefore assess their proposed investment against the legislation, implementing measures and administrative guidance applicable at the time the investment is made. Reliance upon outdated investment thresholds, superseded eligibility criteria or obsolete market information may expose investors to unnecessary legal and commercial risk and, in certain circumstances, may jeopardize the success of a residence permit application.
Legal Framework Governing the Greece Golden Visa
The legal framework governing the Greece Golden Visa is founded upon a combination of national immigration legislation, European Union law and implementing administrative measures. Although the programme is widely referred to internationally as the “Greece Golden Visa”, the expression itself is not a statutory legal term. Under Greek law, the programme constitutes a category of permanent investor residence permit (Residence Permit Category B.5) granted to qualifying third-country nationals who satisfy the conditions prescribed by the Greek Immigration Code and the legislation amending it.
The principal legislative instrument is Law 5038/2023 (Government Gazette A’ 81/1 April 2023), entitled the Greek Immigration Code, which consolidated and modernized the legal framework governing the entry, residence and social integration of third-country nationals in Greece. Within that Code, Article 100 establishes the legal regime applicable to permanent investor residence permits, setting out the statutory conditions under which qualifying investors may obtain and renew residence rights through eligible investments. The Code replaced the fragmented legislative framework that had previously governed investor residence permits and created a unified legal basis for the administration of investment migration in Greece.
The investor residence regime was substantially reformed by Article 64 of Law 5100/2024 (Government Gazette A’ 49/5 April 2024), which replaced significant parts of Article 100 and fundamentally altered the operation of the programme. These amendments introduced differentiated minimum investment thresholds according to the geographical location of the investment, created specialized investment categories for certain commercial-to-residential conversions and listed buildings, imposed restrictions on the commercial exploitation of qualifying properties and introduced transitional provisions for investments commenced under the previous legal framework. The reforms demonstrate a deliberate legislative shift from a uniform investment model towards a more targeted investment policy designed to encourage sustainable economic development while responding to pressures within the residential property market.
The statutory framework is supplemented by secondary legislation and administrative instruments that regulate the practical implementation of the programme. Of particular importance is Circular No. 9/2024 of the Ministry of Migration and Asylum, which provides interpretative guidance concerning the application of Article 100 following the enactment of Law 5100/2024, including the treatment of transitional cases, investment structures, documentary requirements and property-use restrictions. Although ministerial circulars do not possess the force of primary legislation, they are of considerable practical significance because they guide the competent immigration authorities responsible for examining investor residence permit applications and promote consistency in administrative practice throughout Greece.
The documentary framework has been further refined through Joint Ministerial Decision 214926/2025 (Government Gazette B’ 6014/2025), which specifies the supporting documentation required for applications submitted under Article 100 and establishes the manner in which particular statutory conditions must be demonstrated before the competent authorities. Consequently, investors must consider not only the substantive requirements of Article 100 itself but also the implementing legislation governing evidential and procedural compliance.
Although residence permits remain a matter of national competence, the Greece Golden Visa also operates within the broader legal framework of the European Union. Greece is a Member State of the European Union and participates fully in the Schengen Area. Accordingly, residence permits issued under Article 100 facilitate short-term travel within the Schengen Area in accordance with the Schengen Borders Code (Regulation (EU) 2016/399) and the applicable European rules governing external border controls and the movement of third-country nationals. However, neither the Greek Immigration Code nor European Union law confers, by virtue of the Greece Golden Visa alone, an unrestricted right to reside, establish a business or undertake employment in other Member States. Those matters continue to be governed by the domestic immigration legislation of each Member State and the applicable provisions of European Union law.
The legal framework governing the Greece Golden Visa extends beyond immigration legislation. Every qualifying investment is simultaneously subject to the rules governing the relevant asset class and to the wider regulatory framework applicable to transactions within Greece. Real estate acquisitions are regulated by Greek property and contract law and require compliance with cadastral, planning and registration requirements. Financial transactions are subject to banking regulation and anti-money laundering legislation, including customer due diligence and verification of the lawful source of funds. Tax obligations arise under the Greek tax system and may include transfer taxes, annual property taxation and, depending upon the circumstances of the investor, wider domestic and international tax considerations. Consequently, obtaining a Greece Golden Visa should not be viewed as a standalone immigration procedure but rather as a multidisciplinary legal transaction requiring coordinated advice across immigration, real estate, corporate, tax and regulatory law.
Finally, prospective investors should recognize that the legal framework governing the Greece Golden Visa continues to evolve. Successive legislative amendments over recent years illustrate the willingness of the Greek legislature to modify investment thresholds, redefine qualifying investments and introduce additional compliance obligations in response to changing economic conditions and public policy priorities. Accordingly, every investment should be assessed against the legislation, implementing regulations and administrative guidance in force at the date of the transaction. Reliance upon outdated publications, obsolete investment thresholds or superseded administrative practice may expose investors to unnecessary legal, financial and procedural risk and, in certain circumstances, jeopardize the success of an application for a permanent investor residence permit.
Eligible Investment Routes under Article 100 of Law 5038/2023
The Greece Golden Visa is not a single investment programme but a statutory framework comprising several distinct categories of qualifying investments. These are governed principally by Article 100 of Law 5038/2023 (Greek Immigration Code), as substantially amended by Article 64 of Law 5100/2024. Each investment category is subject to its own legal requirements, documentary obligations and compliance conditions. Accordingly, prospective investors should not assume that satisfying the minimum financial threshold alone is sufficient to qualify for a residence permit. The competent authorities will assess whether the proposed investment satisfies the precise statutory conditions applicable to the relevant investment route.
Historically, the Greece Golden Visa was almost exclusively associated with the acquisition of residential real estate. However, the legislative reforms introduced in 2024 fundamentally altered the programme by replacing the previous uniform investment threshold with a differentiated regime based upon the location, nature and intended use of the property. At the same time, the legislature introduced specialized investment categories designed to encourage urban regeneration, the restoration of protected buildings and investment in underutilized commercial property. These amendments demonstrate a clear policy shift towards directing foreign investment into sectors considered beneficial to the wider Greek economy rather than merely stimulating demand for residential housing.
The most common qualifying investment continues to be the acquisition of real property. Following the amendments introduced by Law 5100/2024, the applicable minimum investment depends upon the geographical location of the property and the statutory category into which the investment falls. Certain designated areas of Greece, including parts of Attica, Thessaloniki and specified islands with increased housing demand, are now subject to higher minimum investment thresholds than other regions of the country. These regional distinctions form part of the statutory framework itself and must be carefully considered before any purchase agreement is concluded. Investors should therefore determine the applicable investment threshold before negotiating the acquisition of any property, as an otherwise valid real estate transaction may not qualify for the purposes of obtaining a residence permit if the statutory investment requirements are not satisfied.
A separate statutory investment category applies to the acquisition of commercial buildings that are lawfully converted into residential use. Through this route, the legislature seeks to encourage the redevelopment of obsolete commercial premises and their reintegration into the residential property market. Qualification under this category depends not merely upon the purchase of the property but also upon compliance with the statutory requirements governing the authorized change of use and the documentary evidence demonstrating that the conversion has been lawfully completed. Investors should therefore undertake detailed legal and technical due diligence before acquiring commercial premises intended for redevelopment, including verification of planning permissions, building regulations, cadastral records and the legal status of the conversion.
The legislation also establishes a distinct category for investments involving listed or protected buildings of historical or architectural significance. This route reflects the Greek Government’s policy of encouraging private investment in the preservation of the country’s cultural heritage while facilitating the restoration and productive use of historic properties. However, investments involving listed buildings are accompanied by additional legal and technical obligations arising not only under immigration legislation but also under the legal framework governing cultural heritage, planning law and conservation requirements. Investors considering this category should therefore anticipate a significantly more complex legal process than that associated with an ordinary residential acquisition and should obtain specialist legal and technical advice before committing to the transaction.
The statutory framework also continues to recognize long-term tourism accommodation agreements, including qualifying timeshare arrangements, provided that the statutory conditions prescribed by Article 100 are fully satisfied. Although considerably less common than direct ownership of real estate, these investment structures remain available under Greek law and are subject to their own documentary and contractual requirements. The legal validity of the underlying agreement, its duration and its compliance with the applicable statutory framework are essential considerations when assessing eligibility under this investment route.
Irrespective of the investment route selected, every qualifying investment must satisfy broader legal and regulatory requirements extending beyond immigration law. Investors should verify legal title, investigate any mortgages, easements, encumbrances or pending litigation affecting the property, confirm compliance with planning and environmental legislation, and ensure that the transaction satisfies Greek anti-money laundering legislation, tax registration requirements and banking regulations. In practice, a successful Greece Golden Visa application depends as much upon the quality of the legal due diligence undertaken before the investment as upon the amount invested. Many applications encounter delays not because the investment itself is ineligible, but because deficiencies exist in the underlying transaction or in the documentary evidence submitted to the competent authorities.
Given the complexity of the legislative framework and the substantial reforms introduced in recent years, investors should avoid relying upon general market commentary or promotional material published before the enactment of Law 5100/2024. Every proposed investment should be evaluated against the current version of Article 100 of Law 5038/2023, the relevant implementing legislation, and the interpretative guidance issued by the Ministry of Migration and Asylum. A comprehensive legal review before signing any investment agreement remains the most effective means of ensuring that the transaction satisfies the statutory requirements for the grant of a permanent investor residence permit while simultaneously protecting the investor’s broader commercial and legal interests.
Investment Thresholds and Qualifying Investment Categories
The financial thresholds applicable to the Greece Golden Visa programme have undergone significant reform since the programme’s introduction in 2013. For almost a decade, the acquisition of real estate with a minimum value of €250,000 constituted the principal qualifying investment for obtaining a permanent investor residence permit. This uniform threshold was regarded as one of the most competitive residence-by-investment regimes within the European Union and contributed substantially to foreign investment in the Greek property market.
However, recognizing the increasing pressure placed upon residential housing in certain regions of the country, particularly within Athens and popular island destinations, the Greek legislature fundamentally restructured the programme through Article 64 of Law 5100/2024, which amended Article 100 of Law 5038/2023 (Greek Immigration Code). The current statutory framework no longer provides for a single nationwide investment threshold. Instead, it establishes multiple investment categories, each governed by its own financial requirements and legal conditions depending upon the location, nature and intended use of the investment.
The highest statutory threshold is €800,000, which applies to acquisitions of real property located within areas identified by the legislature as experiencing particularly strong demand for residential housing. These include the Region of Attica, the Regional Unit of Thessaloniki, the islands of Mykonos and Santorini, together with all islands having a permanent population exceeding 3,100 inhabitants, as determined by the most recent official population census published by the Hellenic Statistical Authority (ELSTAT). The introduction of this higher threshold reflects the Government’s policy objective of balancing foreign investment with the protection of housing availability in regions where sustained demand has contributed to rising property values and reduced housing supply for permanent residents.
Under the current legislative framework, investments falling within the €800,000 category generally require the acquisition of a single property. Furthermore, the property must have a minimum surface area of 120 square meters, a requirement introduced by Law 5100/2024 to discourage fragmented acquisitions of smaller residential units solely for immigration purposes. The investment amount must correspond to the objective value or contractual purchase price, as determined under the applicable provisions of Greek law, and the transaction must be completed through the banking system in accordance with the applicable anti-money laundering legislation and the evidential requirements prescribed by the Ministry of Migration and Asylum.
For real estate situated outside the designated high-demand areas, the legislation prescribes a minimum investment threshold of €400,000. This category encompasses all regions of Greece not expressly included within the €800,000 regime and continues to provide investors with access to a broad range of residential and commercial opportunities throughout mainland Greece and many islands. As with the higher investment category, the legislation generally requires the acquisition of a single property satisfying the statutory requirements established by Article 100. The differentiated threshold reflects the legislature’s intention to continue attracting foreign capital into regional property markets while reducing speculative investment pressures within the country’s principal metropolitan and tourist destinations.
Although the former nationwide €250,000 threshold has largely been abolished, it has not disappeared entirely. Instead, the legislature has preserved this investment amount for two specialized categories that serve distinct public policy objectives. The first concerns the acquisition of commercial properties that are subsequently converted into residential use. This category is intended to encourage the redevelopment of obsolete commercial buildings and their reintegration into the residential housing market. Eligibility is therefore not determined solely by the acquisition of the property itself. Rather, the investor must demonstrate that the authorized change of use has been lawfully completed in accordance with the applicable urban planning and building legislation before the residence permit is granted. Consequently, investors should undertake comprehensive legal and technical due diligence to verify planning permissions, building permits, engineering certifications, cadastral registrations and compliance with the relevant provisions of Greek planning law before completing the transaction.
The second category retaining the €250,000 investment threshold concerns investments in listed buildings or buildings officially designated for preservation because of their historical, architectural or cultural significance. Through this category, the legislature seeks to promote private investment in the restoration and preservation of Greece’s architectural heritage while facilitating the productive reuse of properties that might otherwise remain abandoned or deteriorate. Such investments are frequently accompanied by additional regulatory obligations arising under legislation governing the protection of cultural heritage, planning law and conservation requirements. Depending upon the characteristics of the property, investors may be required to obtain approvals from the Ministry of Culture, archaeological authorities, municipal planning authorities and other competent public bodies before restoration works may lawfully commence. Accordingly, investments involving listed buildings generally require considerably more extensive legal and technical planning than conventional residential acquisitions.
In addition to direct acquisitions of real property, Article 100 continues to recognize certain long-term tourism accommodation agreements as qualifying investments. These include specified forms of hotel accommodation contracts and timeshare arrangements that satisfy the statutory conditions prescribed by the Greek Immigration Code. Although these investment structures are considerably less common than direct ownership of real estate, they remain legally available provided that the contractual arrangements fully comply with the legislative requirements governing duration, value and legal form. Investors contemplating these alternatives should ensure that the contractual documentation has been carefully reviewed, as eligibility depends upon strict statutory compliance rather than the commercial description of the transaction.
An equally significant reform introduced by Law 5100/2024 concerns the restrictions imposed upon the subsequent use of qualifying investment properties. In an effort to preserve housing availability and prevent abuse of the programme, the legislature introduced limitations on the commercial exploitation of properties acquired for the purposes of obtaining a Greece Golden Visa. In particular, properties qualifying under the new investment regime may not be used for short-term rental through digital platforms, including Airbnb and similar services, where such use is prohibited by the applicable provisions of Article 100. Furthermore, properties acquired under the commercial-to-residential conversion category must continue to comply with the statutory purpose upon which the residence permit was granted. Failure to observe these legal obligations may expose investors to administrative sanctions and may have implications for the renewal of the investor residence permit.
From a practical perspective, selecting the appropriate investment category requires considerably more than identifying the applicable financial threshold. Prospective applicants should ensure that the proposed investment complies fully with the statutory requirements governing its particular category, that the property is free from legal defects affecting title, that all planning and cadastral documentation is complete, that the intended use of the property remains consistent with the legislative framework and that the investment aligns with the investor’s broader immigration, tax and succession planning objectives. In practice, comprehensive legal due diligence undertaken before the execution of any reservation agreement or purchase contract remains the most effective means of ensuring compliance with the requirements of Article 100 while simultaneously protecting the investor’s commercial interests.
Primary Legal Sources
Law 5038/2023 (Government Gazette A’ 81/01.04.2023) – Greek Immigration Code, Article 100.
Law 5100/2024 (Government Gazette A’ 49/05.04.2024) – Article 64 amending Article 100 of Law 5038/2023.
Joint Ministerial Decision 214926/2025 (Government Gazette B’ 6014/2025) – Supporting documentation and implementation of investor residence permits.
Circular No. 9/2024 of the Ministry of Migration and Asylum – Administrative guidance on the implementation of Article 100 following the amendments introduced by Law 5100/2024.
Official Sources:
· Ministry of Migration and Asylum: https://migration.gov.gr
· National Registry of Administrative Procedures (MITOS): https://en.mitos.gov.gr
Eligible Applicants
The Greece Golden Visa is available exclusively to third-country nationals, namely individuals who are not citizens of a Member State of the European Union, the European Economic Area (EEA) or the Swiss Confederation. The legal basis for eligibility is established by Article 100 of Law 5038/2023 (Greek Immigration Code), as amended by Law 5100/2024, which provides that a permanent investor residence permit may be granted to a third-country national who makes and maintains a qualifying investment in accordance with the statutory requirements. The programme is therefore intended to facilitate residence by investment for non-EU nationals while ensuring compliance with Greece’s broader immigration and public policy objectives.
Unlike certain investment migration programmes in other jurisdictions, the Greece Golden Visa does not impose restrictions based upon nationality, provided that the applicant is legally eligible to enter Greece and satisfies the statutory conditions governing the grant of a residence permit. Nevertheless, every application remains subject to the general provisions of Greek immigration law concerning public order, public security and public health. Accordingly, the competent authorities retain the power to refuse an application where the applicant is considered to present a threat to national security, public order or international relations, or where other statutory grounds for refusal exist under the Greek Immigration Code.
A distinguishing feature of the Greece Golden Visa programme is that the residence permit may be extended to certain members of the investor’s family. The legislative framework recognizes that investment migration frequently involves family relocation and therefore permits qualifying relatives to obtain residence permits linked to the principal investor, provided that the statutory conditions are satisfied.
The investor’s spouse is entitled to apply as a family member under the principal applicant’s investment. The same applies to the partner with whom the investor has concluded a civil partnership recognized under Greek law or otherwise accepted under the applicable rules of private international law. In each case, the competent authorities may require documentary evidence establishing the legal validity of the relationship, together with officially translated and, where necessary, apostilled or legalised civil status documents.
The legislation also permits the inclusion of the investor’s unmarried children under the age of twenty-one years. The right of residence granted to dependent children is linked to the continued validity of the principal investor’s residence permit and remains subject to the age limits and dependency conditions established by the Greek Immigration Code. Upon reaching the statutory age threshold, children may, under the conditions prescribed by law, become eligible to obtain an independent residence permit under the relevant provisions of the Immigration Code, thereby allowing continuity of lawful residence in Greece without requiring a new qualifying investment.
One of the distinctive characteristics of the Greek programme is the possibility of including certain ascendants within the family application. The parents of both the principal investor and the investor’s spouse or civil partner may also qualify for residence permits under Article 100, provided that the statutory requirements are met. This broader definition of eligible family members distinguishes the Greece Golden Visa from many comparable residence-by-investment programmes within Europe, where eligibility is often limited to spouses and dependent children. For internationally mobile families seeking long-term residence planning across multiple generations, this feature frequently represents a significant practical advantage.
Although family members derive their residence rights from the principal investor, each applicant must nevertheless satisfy the general admissibility requirements applicable under Greek immigration legislation. Individual family members may therefore be refused residence permits where independent grounds for refusal exist, including reasons relating to public order or security. Furthermore, all applicants are required to submit the supporting documentation prescribed by the applicable legislation, including valid travel documents, evidence of family relationship, health insurance where required, biometric data and any additional documentation requested by the competent immigration authorities.
It is important to distinguish eligibility for a residence permit from entitlement to Greek citizenship. The inclusion of family members within the Golden Visa programme does not confer Greek nationality, nor does it create an automatic pathway to citizenship. Any future application for naturalization remains subject to the separate legal framework governing the acquisition of Greek citizenship, including the statutory requirements relating to lawful residence, integration, language proficiency and the exercise of administrative discretion by the competent authorities.
Prospective applicants should also recognize that eligibility under Article 100 extends beyond the completion of the qualifying investment. The residence permit remains conditional upon the continued maintenance of the qualifying investment throughout the period of validity of the permit. Disposal of the investment, failure to comply with the statutory conditions or breach of the legal obligations governing the relevant investment category may affect both the principal investor and all family members whose residence rights depend upon that investment. For this reason, eligibility should be regarded not as a single event occurring at the time of application, but as an ongoing legal status requiring continuous compliance with the requirements of the Greek Immigration Code.
Application Procedure
The procedure for obtaining a Greece Golden Visa is governed principally by Article 100 of Law 5038/2023 (Greek Immigration Code), as amended by Law 5100/2024, together with the implementing provisions adopted by the Ministry of Migration and Asylum. Although the programme is frequently promoted as a straightforward residence-by-investment scheme, the application process is, in reality, a formal administrative procedure requiring strict compliance with immigration, property, banking and anti-money laundering legislation. The successful completion of the qualifying investment represents only one stage of the process. The applicant must also satisfy the documentary, procedural and regulatory requirements prescribed by the competent authorities before a permanent investor residence permit can be granted.
The process ordinarily begins with the identification and legal review of the proposed investment. Before any contractual commitment is undertaken, comprehensive legal due diligence should be carried out to verify ownership, title, cadastral registration, planning compliance, existing encumbrances, tax liabilities and the property’s eligibility under Article 100. Since the amendments introduced by Law 5100/2024 created multiple investment categories with different legal requirements, it is essential to confirm that the proposed transaction satisfies the statutory conditions applicable to the relevant investment route before the acquisition is completed.
Once the investment has been selected, the investor must complete the transaction in accordance with Greek law. In the case of real estate acquisitions, this involves the execution of a notarial transfer deed, registration of the transfer with the competent Land Registry or Hellenic Cadaster and settlement of the purchase price through the Greek banking system. Compliance with the applicable anti-money laundering legislation is of particular importance, as the authorities require evidence demonstrating both the lawful origin of the investment funds and the manner in which payment has been completed. In many cases, supporting documentation issued by the notary and the financial institution forms an essential part of the residence permit application.
Applications for investor residence permits are submitted electronically through the e-Services platform of the Ministry of Migration and Asylum. The application must be accompanied by all supporting documentation prescribed by the Greek Immigration Code and the relevant implementing legislation, including the documentation specified in Joint Ministerial Decision 214926/2025. Depending upon the investment category, the required documentation may include the notarial purchase deed, certificates evidencing registration of ownership, proof of payment, cadastral documentation, insurance documentation, passport copies, biometric information and evidence demonstrating compliance with the specific statutory conditions applicable to the investment. Incomplete applications frequently result in requests for supplementary documentation and may significantly delay the examination process.
Greek legislation also provides considerable procedural flexibility for overseas investors. A third-country national who satisfies the conditions of Articles 96 to 100 of Law 5038/2023 may authorise a legal representative to submit the residence permit application on his or her behalf through a duly executed power of attorney. Such power of attorney may be executed before a Greek consular authority or before a competent foreign authority or notary abroad, provided that it bears the required Apostille under the Hague Convention or the appropriate consular legalization where applicable. This enables much of the legal and administrative work to be completed without requiring the investor’s continuous physical presence in Greece.
Following submission, the competent immigration authority undertakes an examination of both the application and the supporting documentation. The authorities verify compliance with the statutory investment requirements, confirm the authenticity and completeness of the submitted documents and assess whether any grounds for refusal exist under the Greek Immigration Code. Where deficiencies are identified, the applicant may be invited to submit supplementary documentation before the final administrative decision is issued. The accuracy and completeness of the original submission therefore play a significant role in determining the overall duration of the procedure.
Every applicant is required to provide biometric data, including fingerprints, before the residence permit can be issued. Attendance for biometric enrolment constitutes the principal stage of the process requiring the investor’s physical presence in Greece, unless exempted under specific statutory provisions. Following successful completion of the biometric procedure and the examination of the application, the competent authority issues the permanent investor residence permit in the form of a biometric residence card valid for five years.
During the examination of the application, the authorities issue a Certificate of Submission, confirming that the application has been validly lodged. This certificate serves as evidence of the applicant’s lawful status while the application remains pending and enables the applicant to rely upon the procedural rights granted under the Greek Immigration Code until a final administrative decision is rendered.
Although the National Registry of Administrative Procedures indicates that the administrative procedure is ordinarily completed within approximately 50 to 60 days, this period represents the statutory administrative timeframe following the submission of a complete application. In practice, the overall duration of the process depends upon numerous factors, including completion of the investment, preparation of documentation, scheduling of biometric appointments and the workload of the competent immigration authorities. Accordingly, investors should approach published timelines with caution and should ensure that sufficient time is allowed for both the legal transaction and the subsequent administrative procedure.
From a practical perspective, the success of a Golden Visa application depends not only upon satisfying the statutory investment threshold but also upon the quality of the legal preparation preceding submission. Errors in the transfer of funds, deficiencies in title documentation, inconsistencies within civil status documents, inadequate powers of attorney or failures to comply with documentary formalities remain among the most common causes of delay. For this reason, the application process should be regarded as an integrated legal transaction requiring close coordination between immigration counsel, notaries, tax advisers, financial institutions and technical professionals from the earliest stages of the investment.
Renewal and Maintenance of the Greece Golden Visa
One of the principal advantages of the Greece Golden Visa programme is that the investor residence permit is renewable indefinitely, provided that the statutory conditions continue to be satisfied. Unlike many residence permits granted under Greek immigration law, the investor residence permit is not subject to maximum renewal periods or progressive residence stages. Instead, Article 100 of Law 5038/2023 provides that the permit is issued for an initial period of five years and may subsequently be renewed for successive five-year periods, provided that the qualifying investment is maintained and the legal requirements continue to be fulfilled.
The renewal procedure is not automatic. Before the expiry of the existing residence permit, the permit holder must submit a renewal application through the procedures established by the Ministry of Migration and Asylum, accompanied by the supporting documentation prescribed by the applicable legislation. The competent authorities examine whether the statutory conditions continue to exist at the time of renewal and whether any circumstances have arisen that would justify the refusal or revocation of the residence permit under the Greek Immigration Code.
The most fundamental condition for renewal is the continued existence of the qualifying investment. Where the residence permit was granted on the basis of ownership of real estate, the investor must continue to hold the qualifying property in the manner prescribed by Article 100. If the investment concerned another qualifying category, such as a listed building restoration project or a commercial-to-residential conversion, the investor must continue to satisfy the statutory conditions applicable to that investment. The authorities are therefore concerned not only with whether the original investment was lawfully completed, but also with whether it has been maintained throughout the validity of the residence permit.
The disposal of the qualifying investment generally has direct immigration consequences. As a general rule, where the investor transfers ownership of the qualifying property during the validity of the residence permit without simultaneously maintaining another qualifying investment in accordance with Article 100, the legal basis upon which the residence permit was granted ceases to exist. In such circumstances, the competent authority may revoke both the investor’s residence permit and the linked residence permits granted to qualifying family members. Conversely, where a qualifying property is transferred to another eligible third-country national who independently satisfies the statutory conditions, the purchaser may submit a separate application for a new investor residence permit based upon that acquisition.
The legislative amendments introduced by Law 5100/2024 have further reinforced the importance of ongoing compliance throughout the validity of the permit. Investors must continue to observe the statutory conditions applicable to the specific investment category under which the residence permit was granted. For example, where Article 100 restricts the use of qualifying property for short-term tourist accommodation or prescribes conditions relating to the authorzsed use of converted commercial premises, compliance with those obligations remains relevant not only at the time of the initial application but also during subsequent renewal proceedings. Failure to comply with these continuing statutory obligations may affect the investor’s entitlement to retain the residence permit.
Unlike many categories of residence permits issued throughout Europe, the Greece Golden Visa does not impose a general obligation requiring the investor to spend a minimum number of days each year physically present in Greece in order to preserve the residence permit. The legislation instead focuses primarily upon the maintenance of the qualifying investment rather than continuous residence within the country. This characteristic remains one of the programme’s most attractive features for internationally mobile investors who wish to retain residence rights in Greece while continuing to reside or conduct business in other jurisdictions. Nevertheless, investors should distinguish the absence of a physical residence requirement for renewal from the separate residence requirements that may apply under Greek nationality legislation should they later wish to pursue naturalization as Greek citizens.
The renewal application must also satisfy the procedural requirements established by the Ministry of Migration and Asylum. The competent authority may require updated passports, evidence confirming the continued ownership or maintenance of the qualifying investment, valid residence permit documentation, biometric data where required, and any additional supporting documents prescribed by the applicable ministerial decisions or administrative guidance. As with the initial application, incomplete documentation or inconsistencies within the application may result in requests for supplementary information and prolong the administrative examination.
From a practical perspective, investors should not regard renewal as a purely administrative formality. Circumstances affecting the investment may evolve over the five-year validity period, including amendments to property records, inheritance issues, corporate restructuring, planning irregularities, tax liabilities or changes in ownership structure. Periodic legal review of the investment during the validity of the residence permit can therefore significantly reduce the risk of unexpected complications arising at the renewal stage. Maintaining accurate records of ownership, tax compliance and the continuing fulfilment of the statutory requirements remains an important aspect of long-term compliance with the Greece Golden Visa programme.
Rights and Benefits of the Greece Golden Visa
The Greece Golden Visa grants qualifying third-country nationals a permanent investor residence permit (Category B.5) under Article 100 of Law 5038/2023, as amended by Law 5100/2024. While the programme is widely regarded as one of Europe’s most attractive residence-by-investment schemes, it is important to understand that the rights conferred by the residence permit are defined exclusively by the Greek Immigration Code and the applicable provisions of European Union law. The permit grants significant residence and mobility rights, but it does not place its holder in the same legal position as a Greek citizen or an EU citizen.
The principal right conferred by the investor residence permit is the right to reside lawfully in Greece for a renewable period of five years. Provided that the qualifying investment is maintained and the statutory conditions continue to be fulfilled, the permit may be renewed indefinitely in successive five-year periods. Unlike many residence permits issued for employment or business purposes, the investor residence permit is not dependent upon continued economic activity, employment or minimum income requirements after the qualifying investment has been completed. The continued maintenance of the investment constitutes the principal legal condition for renewal.
A particularly significant advantage of the programme is the absence of any general statutory obligation requiring the investor to spend a minimum number of days physically present in Greece in order to preserve the residence permit. The Greek legislature has deliberately adopted an investment-based model rather than a residence-based model. Consequently, investors may maintain their residence permits while continuing to reside primarily outside Greece, provided that the qualifying investment remains in place and the applicable legal requirements continue to be satisfied. This feature distinguishes the Greece Golden Visa from several comparable residence-by-investment programmes that impose minimum annual residence obligations as a condition of renewal.
The residence permit also facilitates travel throughout the Schengen Area. As Greece is a participating Member State of the Schengen acquis, holders of a valid Greek investor residence permit may travel to the other Schengen States without obtaining additional visas for short stays, subject to the limits established by the Schengen Borders Code (Regulation (EU) 2016/399) and the applicable rules governing short-term movement within the Schengen Area. It should be emphasized, however, that the residence permit does not create a right of long-term residence, employment or establishment in another Member State, each of which remains subject to the immigration legislation of the relevant State and the applicable provisions of European Union law.
Another important benefit of the programme is the ability to extend residence rights to qualifying family members. Subject to the statutory conditions prescribed by the Greek Immigration Code, the principal investor’s spouse or civil partner, dependent children and the parents of both spouses may obtain residence permits linked to the principal investment. This broad approach to family eligibility is widely regarded as one of the distinguishing characteristics of the Greek programme and makes it particularly attractive for investors seeking long-term family residence planning rather than individual immigration solutions.
From a commercial perspective, the investor residence permit enables foreign nationals to acquire, own and manage assets in Greece in accordance with Greek law. Investors remain free to purchase additional real estate, establish companies, participate in commercial activities and make further investments, subject to compliance with the applicable regulatory, tax and corporate framework. The residence permit therefore provides a stable legal basis from which international investors may manage their personal and commercial interests within Greece. It should be recognized, however, that the existence of a residence permit does not exempt the holder from compliance with Greek tax legislation, anti-money laundering regulations, planning law or any other legal obligations arising from their investment activities.
One of the most frequently misunderstood aspects of the Greece Golden Visa concerns employment rights. Article 100 expressly provides that the investor residence permit does not grant access to dependent employment in Greece. Accordingly, holders of the permit may not accept salaried employment solely on the basis of their Golden Visa residence permit. This restriction forms one of the defining characteristics of the programme and distinguishes investor residence from residence permits issued specifically for employment purposes. Nevertheless, the legislation does not prevent investors from holding shares in companies, acting as shareholders, receiving dividends or serving as directors or legal representatives of corporate entities, provided that they comply with the relevant provisions of Greek corporate, tax and immigration law.
It is equally important to distinguish the Greece Golden Visa from Greek citizenship.
The residence permit does not confer political rights, including the right to vote or stand for public office, nor does it provide access to the rights of free movement enjoyed by citizens of the European Union under the Treaties. Likewise, the residence permit does not automatically lead to naturalization. Any future application for Greek citizenship is governed by the Greek Nationality Code and is subject to separate statutory requirements, including lawful residence, actual integration into Greek society, language proficiency and the successful completion of the applicable administrative procedure. Holding a Golden Visa may constitute one element of an individual’s lawful residence history, but it does not, in itself, create an entitlement to citizenship.
Prospective investors should therefore view the Greece Golden Visa as a residence-by-investment programme rather than a citizenship-by-investment scheme. Its principal legal advantages lie in the stability of the renewable residence permit, the absence of a continuous physical residence requirement for renewal, the ability to include qualifying family members and the freedom to travel throughout the Schengen Area for short stays. At the same time, investors should remain fully aware of its statutory limitations, particularly regarding access to salaried employment and the distinction between residence rights and the acquisition of Greek nationality. A clear understanding of both the rights granted and the limitations imposed by Article 100 is essential for making informed investment and immigration decisions.
Taxation and Financial Considerations
Although the Greece Golden Visa is fundamentally an immigration programme, every qualifying investment is accompanied by legal and fiscal consequences that should be evaluated before the transaction is completed. The acquisition, ownership and disposal of assets in Greece are governed by Greek tax legislation independently of the investor residence regime. Accordingly, obtaining a residence permit under Article 100 of Law 5038/2023 does not confer any tax exemptions or preferential fiscal treatment. Investors should therefore distinguish clearly between the immigration consequences of the investment and the tax obligations arising from ownership of assets in Greece.
The acquisition of real estate generally gives rise to Property Transfer Tax (PTT), which is currently imposed at 3% of the taxable value of the property, unless the transaction falls within a category subject to Value Added Tax under the applicable provisions of Greek tax legislation. In addition to transfer tax, purchasers should anticipate ancillary acquisition costs, including notarial fees, Land Registry or Hellenic Cadaster registration fees, legal fees and other transaction expenses. These costs should be taken into account when calculating the overall financial commitment associated with the investment.
Following acquisition, owners of real estate in Greece are generally liable to the Unified Real Estate Ownership Tax (ENFIA). ENFIA is an annual tax calculated by reference to factors including the location, surface area, age and objective value of the property. Liability for ENFIA exists irrespective of whether the property is occupied, rented or held purely for investment purposes. Investors should therefore consider the continuing annual tax burden associated with property ownership when assessing the long-term financial implications of the investment.
Where the qualifying property generates income, whether through long-term leasing or another lawful form of exploitation, that income may be subject to Greek income tax in accordance with the provisions of the Income Tax Code (Law 4172/2013). Investors should also note that the legislative amendments introduced by Law 5100/2024 impose restrictions on the use of certain Golden Visa properties for short-term tourist accommodation. Consequently, prospective purchasers intending to generate rental income should ensure that the proposed use of the property is compatible both with Article 100 of the Greek Immigration Code and with the applicable tax legislation.
A frequent misconception concerns the relationship between the Greece Golden Visa and tax residency. The grant of a residence permit does not automatically render an investor a Greek tax resident. Tax residency is determined under the provisions of the Greek Income Tax Code, principally by reference to the individual’s habitual residence, center of vital interests and physical presence in Greece. In general, an individual who spends more than 183 days in Greece during a tax year may become tax resident, although the statutory rules require a broader factual assessment in each case. Accordingly, many Golden Visa holders remain tax residents of their country of domicile while maintaining lawful residence rights in Greece.
International investors should also consider the impact of the extensive network of Double Taxation Agreements (DTAs) concluded by Greece. These treaties are intended to prevent double taxation of income and capital and to allocate taxing rights between Greece and the investor’s country of tax residence. The availability of treaty relief depends upon the particular agreement in force and the investor’s individual circumstances. Specialist tax advice should therefore be obtained where assets or income are situated in multiple jurisdictions.
For high-net-worth individuals contemplating relocation, Greece also offers the Alternative Tax Regime for Foreign Tax Residents (Non-Dom Regime) under Article 5A of Law 4172/2013, subject to separate eligibility requirements. Although this regime operates independently of the Golden Visa programme, certain investors may find it advantageous where they intend to transfer their tax residence to Greece. The regime provides, subject to statutory conditions, for the payment of a fixed annual tax on foreign-source income and has become an important consideration for internationally mobile individuals establishing long-term residence in Greece.
From a practical perspective, investors should undertake tax planning before completing the qualifying investment rather than after the transaction has been finalized. Early consideration of acquisition costs, annual taxation, financing arrangements, inheritance planning and international tax exposure frequently produces more efficient investment structures while reducing the risk of unforeseen fiscal liabilities. Given the interaction between immigration law, tax legislation and international taxation principles, coordinated legal and tax advice remains essential throughout the investment process.
Primary Legal Sources
Law 4172/2013 (Income Tax Code).
Law 4223/2013 – Unified Real Estate Ownership Tax (ENFIA).
Law 1587/1950, as amended – Property Transfer Tax.
Law 5038/2023 (Greek Immigration Code) – Article 100.
Law 5100/2024 – Amendments to Article 100.
Grounds for Refusal, Revocation and Cancellation
Although the Greece Golden Visa is one of the most accessible residence-by-investment programmes within the European Union, the grant of a permanent investor residence permit is not automatic. The competent authorities retain the power to refuse an application where the statutory conditions prescribed by the Greek Immigration Code are not satisfied or where one of the grounds for refusal established by law applies. The burden of demonstrating compliance rests with the applicant, who must establish both the existence of a qualifying investment and fulfilment of all documentary and procedural requirements.
The most common ground for refusal is the failure to complete a qualifying investment in accordance with Article 100 of Law 5038/2023. This may arise where the investment does not satisfy the applicable statutory threshold, where the property falls outside the relevant investment category, where documentary evidence is incomplete or where the transaction has not been completed in accordance with Greek law.
Administrative practice demonstrates that deficiencies in supporting documentation remain among the principal causes of delay and rejection.
Applications may also be refused on grounds relating to public order, national security or public health, in accordance with the general provisions of the Greek Immigration Code. The competent authorities conduct the necessary administrative checks before issuing a residence permit and may reject an application where statutory grounds exist. Furthermore, the submission of false declarations, forged documents or misleading information may result not only in refusal of the application but also in administrative and criminal consequences under Greek law.
Following the grant of the residence permit, the investor remains under a continuing obligation to maintain the qualifying investment.
Where the investment is disposed of without replacement by another qualifying investment, the legal basis upon which the residence permit was granted generally ceases to exist. In such circumstances, the competent authority may revoke both the investor’s residence permit and the linked permits granted to eligible family members. Similar consequences may arise where the investor no longer complies with the statutory conditions governing the relevant investment category, including restrictions introduced by Law 5100/2024 concerning the use of qualifying properties.
Applicants whose applications are refused are not without legal protection. Administrative decisions remain subject to the remedies provided under Greek administrative law, including administrative review and judicial challenge before the competent administrative courts, where the statutory conditions for such proceedings are satisfied.
Greece Golden Visa, Permanent Residence and Greek Citizenship: Distinguishing Three Separate Legal Statuses
The concepts of residence, permanent residence and citizenship are frequently used interchangeably in commercial publications, yet under Greek law they represent distinct legal statuses governed by different legislative frameworks. A proper understanding of these distinctions is essential for investors evaluating the long-term consequences of participation in the Greece Golden Visa programme.
The Greece Golden Visa grants a permanent investor residence permit. It authorizes lawful residence in Greece for renewable five-year periods provided that the qualifying investment continues to be maintained. The permit also facilitates short-term travel within the Schengen Area in accordance with European Union law. However, it does not confer Greek nationality, European Union citizenship or the unrestricted freedom of movement enjoyed by citizens of the European Union.
Likewise, the investor residence permit should not be confused with tax residency. Residence rights under immigration legislation and tax residence under the Greek Income Tax Code are determined independently and are governed by different statutory criteria.
Greek citizenship is regulated principally by the Greek Nationality Code (Law 3284/2004, as amended). Naturalization is not an automatic consequence of holding a Golden Visa. Applicants seeking citizenship must satisfy separate statutory requirements concerning lawful residence, actual integration into Greek society, sufficient knowledge of the Greek language, history and institutions, and fulfil any additional conditions prescribed by the nationality legislation. The competent authorities retain discretion when examining naturalization applications, and each application is assessed individually.
Accordingly, the Greece Golden Visa should properly be viewed as a residence-by-investment programme rather than a citizenship-by-investment scheme. While the programme may form part of an individual’s long-term residence history, it neither guarantees nor accelerates the acquisition of Greek nationality.
Practical Legal Considerations
From a legal perspective, the acquisition of a qualifying investment should never be regarded as a purely commercial transaction. It simultaneously engages property law, immigration law, tax law, anti-money laundering legislation, planning law and, in many cases, inheritance and succession planning. Consequently, the success of the investment frequently depends upon the quality of the legal preparation undertaken before the transaction is completed.
Comprehensive legal due diligence should verify ownership, title, mortgages, easements, pending litigation, cadastral registration, planning compliance and the legal status of any buildings situated on the property. Particular attention should be given to unauthorized construction, planning irregularities and incomplete registrations, all of which may delay both the acquisition and the subsequent residence permit application.
Equally important is compliance with Greece’s anti-money laundering framework. The lawful source of funds, banking documentation and payment structure are carefully scrutinized during both the property acquisition and the residence permit procedure. Investors should ensure that all transfers are completed through transparent banking channels and that supporting financial documentation is retained throughout the application process.
Tax planning should also form part of the initial legal review. The acquisition structure may affect transfer taxation, annual property taxation, inheritance planning and international tax exposure. Investors who anticipate relocating to Greece should additionally consider whether they satisfy the conditions of the alternative tax regime available to qualifying foreign tax residents.
The legislative amendments introduced by Law 5100/2024 have increased the importance of obtaining legal advice before any reservation agreement or preliminary contract is signed. The applicable investment threshold, the geographical location of the property, restrictions concerning short-term rentals and the continuing obligations attached to specific investment categories must all be considered before committing to the transaction. Correcting an unsuitable investment after completion is frequently more expensive and considerably more complex than identifying the issue at the outset.
For these reasons, investors should approach the Greece Golden Visa as a multidisciplinary legal project requiring coordination between immigration lawyers, real estate lawyers, tax advisers, notaries, engineers and financial institutions. Early legal advice remains the most effective means of reducing regulatory risk while ensuring that the investment satisfies both the letter and the purpose of the Greek Immigration Code.
Conclusion
The Greece Golden Visa remains one of the most established and attractive residence-by-investment programmes within Europe. Its combination of renewable long-term residence, access to the Schengen Area, broad family eligibility and comparatively flexible residence requirements continues to make it an attractive option for international investors seeking stability within an EU Member State.
At the same time, the programme has evolved significantly. The reforms introduced by Law 5100/2024 transformed what was once a relatively straightforward real estate investment scheme into a considerably more sophisticated legal framework incorporating differentiated investment thresholds, new categories of qualifying investments, restrictions on property use and enhanced compliance obligations. As a result, successful participation in the programme now requires careful legal planning rather than simply satisfying a minimum financial threshold.
Prospective investors should therefore undertake detailed legal, tax and technical due diligence before acquiring any qualifying investment. Careful preparation at the outset not only facilitates the residence permit application but also protects the investor’s commercial interests throughout the life of the investment. When properly structured, the Greece Golden Visa continues to provide an effective legal framework for obtaining long-term residence in Greece while supporting broader personal, family and commercial objectives.
About OIKONOMAKIS LAW
OIKONOMAKIS LAW is an international, award-winning, full-service law firm with a presence in Greece and abroad, providing comprehensive legal services to private clients, multinational corporations, financial institutions and international investors. The firm has extensive experience in immigration law, foreign direct investment, real estate transactions, corporate and commercial law, tax planning and cross-border dispute resolution.
The firm’s Immigration and Private Client Practice advises high-net-worth individuals, entrepreneurs, family offices and international investors on all aspects of residence and citizenship planning, investment migration, relocation strategies and cross-border asset structuring. Combining technical legal expertise with commercial understanding, OIKONOMAKIS LAW provides integrated advice throughout every stage of the investment process, from initial due diligence and acquisition structuring to residence permit applications, renewals and long-term strategic planning.
Further information is available at www.oikonomakislaw.com.
Prepared by
Christos Oikonomakis
Chairman, OIKONOMAKIS LAW
Christos Oikonomakis is the Founder and Chairman of OIKONOMAKIS LAW. He has extensive experience in cross-border investment, international commercial law, immigration law, foreign direct investment, corporate structuring and high-value international transactions. He regularly advises multinational corporations, institutional investors, entrepreneurs and private clients on complex legal matters involving multiple jurisdictions and has established OIKONOMAKIS LAW as one of the leading international law firms originating from Greece.
Frequently Asked Questions
1. Does obtaining a Greece Golden Visa automatically make me a Greek citizen?
No. The Greece Golden Visa grants a permanent investor residence permit under Article 100 of Law 5038/2023 and should not be confused with Greek citizenship. The residence permit authorizes lawful residence in Greece and facilitates short-term travel within the Schengen Area, but it does not confer Greek nationality, European Union citizenship or political rights. Any future application for Greek citizenship is governed by the Greek Nationality Code (Law 3284/2004, as amended) and is subject to separate legal requirements, including lawful residence, actual integration into Greek society and successful completion of the naturalization procedure.
2. Am I required to live in Greece to maintain my Golden Visa?
One of the principal advantages of the Greece Golden Visa is that, unlike many residence-by-investment programmes, it does not impose a general obligation requiring investors to spend a minimum number of days each year in Greece in order to renew their residence permits. Provided that the qualifying investment is maintained and the statutory conditions continue to be satisfied, the residence permit may be renewed every five years irrespective of the investor’s principal place of residence. However, investors intending to apply for Greek citizenship in the future should note that different residence requirements apply under the nationality legislation.
3. Can I rent out my investment property?
This depends upon the nature of the investment and the applicable legal framework. Following the amendments introduced by Law 5100/2024, certain categories of qualifying investment properties are subject to restrictions concerning their commercial exploitation, including limitations on short-term rentals through digital platforms such as Airbnb. Long-term leasing may remain permissible, provided that it complies with the applicable provisions of the Greek Immigration Code and Greek tax legislation. Investors should therefore obtain legal advice before purchasing property intended to generate rental income.
4. Can I include my family in my Greece Golden Visa application?
Yes. Subject to the conditions prescribed by Article 100 of Law 5038/2023, the programme permits the inclusion of the investor’s spouse or civil partner, unmarried dependent children under the statutory age limit, and the parents of both the principal investor and the spouse or civil partner. Each family member receives an individual residence permit linked to the principal investor’s qualifying investment. Although family members benefit from residence rights in Greece, they remain subject to the general admissibility requirements of the Greek Immigration Code.
5. What happens if I sell the qualifying investment?
The continued maintenance of the qualifying investment constitutes one of the fundamental legal conditions of the Greece Golden Visa programme. As a general rule, if the investor disposes of the qualifying investment without simultaneously acquiring and maintaining another investment satisfying the requirements of Article 100 of Law 5038/2023, the legal basis for the residence permit ceases to exist. This may result in the revocation or non-renewal of both the investor’s residence permit and the linked permits granted to eligible family members. Investors considering the sale or restructuring of their investment should therefore obtain legal advice before completing the transaction to ensure continued compliance with the applicable legislation.