Pursuant to current legislation (L. 5038/2023), the minimum investment amount in real estate is €250,000 and applies to the following cases:

• Commercial property converted into residential use.
• Property constituting an industrial building or part thereof, provided that it has not been operated as such within the last five (5) years.
• Restoration or reconstruction of registered buildings, or part thereof, provided that such restoration or reconstruction is duly completed.

Real Estate Investment

The minimum investment amount is divided to the following three (3) categories:

• €250.000 (specialized real estate investment allocated towards the conversion of commercial properties into residential use).
• €400,000 (for the purchase of properties all over the Greece, besides the areas mentioned to the next category).
• €800,000 (for the purchase of properties in Athens, Thessaloniki, Mykonos, Santorini and islands with more than 3,100 inhabitants).

Investment in Financial Products

• Purchase of shares with an acquisition value of at least €350,000 in a mutual fund, which is established in Greece or in another country.
• Purchase of shares or stocks, with an acquisition value of at least €350,000, in an Alternative Investment Fund (AIF) established in Greece or in another Member State of the European Union.
• Fixed - Term deposit of at least €500,000 with a Greek credit institution.
• Other investments of at least €500,000 or €800,000.

Investment on a Startup

Pertains the case of a contribution of at least €250,000 into the share capital of a company registered in the National Registry of Start-up Enterprises.

Investment via the incorporation and operation of a company established in Greece or via the participation in the share capital of a domestic company.

In such cases, the minimum investment amount is €500,000.

Upon the submission of the application and provided that all documents required by law have been duly submitted, your permit shall be issued no later than within two months.

Your physical presence, as well as that of your family members, is mandatory only in the following two instances:

• At the bank for the opening of a bank account and
• At the competent Directorate for Aliens and Migration for the collection of biometric data.

The Golden Visa residence permit does not provide access to any type of employment. However, the exercise of economic activity in the capacity of a shareholder, a Chief Executive Officer or a Board Member is permitted.

Besides you, the following members of your family can also obtain a Golden Visa residence permit:

• Your spouse or civil partner.
• Children under the age of 21 and up to the age of 24.
• Your parents, as well as the parents of your spouse or civil partner.

Pursuant to current legislation (L. 5038/2023), there is no minimum stay requirement in Greece. That means that you can live out of Greece and renew your golden visa residence permit every five (5) years, as long as you remain the owner of the property or maintain the relevant investment under which you obtained the golden visa residence permit.

You may freely lease your property immediately upon its acquisition under a long-term lease. However, pursuant to L. 5038/2023, the short-term lease of the property within the framework of the sharing economy (such as through Airbnb, Booking, etc.), as well as its sublease, is not permitted.

Pursuant to the Greek Citizenship Code (L. 3284/2004), holders of Golden Visa residence permit may be eligible to apply for Greek citizenship. This requires to maintain residence in Greece continuously and uninterruptedly for at least seven (7) years and to demonstrate that you have established close ties with the country, both financially and socially. In addition, you will need to take written exams to prove that you have acquired sufficient knowledge of the Greek language, culture, etc.

The benefits are:

• Visa-free travel within Europe’s Schengen Area.
• No requirement to reside for a minimum time period or to relocate in Greece.
• Eligibility to apply for greek citizenship after seven (7) years of residence in Greece and provided that you also meet the other requirements of the Greek Citizenship Code (L. 3284/2004).