Golden Visa

The Greek Golden Visa — what it actually means

A 5-year renewable EU residence permit through qualifying real estate investment. No obligation to live in Greece. Family included under one application. This is what the program does — and what it does not do.

How it works

The structure of the program

The Greek Golden Visa is a residence-by-investment program for non-EU nationals. An investor purchases qualifying real estate in Greece and receives a 5-year renewable residence permit in return. The permit covers the investor, their spouse, and dependent children — all under a single application.

The permit grants access to the Schengen Zone, meaning visa-free travel across 27 European countries. It does not grant citizenship, and citizenship is not automatic even after years of holding the permit — it requires a separate naturalisation process with a long-term physical residence requirement.

There is no minimum stay requirement to maintain the permit. An investor may hold it indefinitely through successive renewals without spending a single day in Greece if they choose not to.

Investment thresholds vary by location. The standard zone — which includes Epirus — starts at €250,000. High-demand areas including Athens, Thessaloniki, Mykonos, and Santorini were moved to an €800,000 threshold following regulatory changes in 2023–2024. This difference affects both the entry cost and the return profile of the investment.

Parameter Detail
Permit duration 5 years, renewable indefinitely
Coverage Investor, spouse, dependent children
Travel rights Schengen Zone — 27 countries
Residence requirement None — no minimum stay
Min. investment — standard zone €250,000
Min. investment — high-demand zone €800,000
High-demand zones Athens, Thessaloniki, Mykonos, Santorini
Citizenship pathway Separate process — requires physical residence
EU residency and investment

What the program offers

Six reasons investors use it

01

Strategic entry into the European market

A renewable permit that establishes a legal presence in the EU without requiring relocation or full tax residency.

02

Property ownership in a growing economy

Greece has posted consistent GDP recovery since 2021 and real estate values in most regions have appreciated meaningfully.

03

Capital appreciation potential

Long-term capital growth is particularly relevant in emerging markets such as Epirus, where the price-to-demand gap has not yet closed.

04

Stable rental income

Long-term leasing is permitted on Golden Visa properties and is the standard model in commercial and residential assets outside the island markets.

05

Lifestyle optionality

Access to the Greek healthcare and education system, Mediterranean climate, and personal safety — without an obligation to use any of it immediately.

06

No minimum stay

The investor controls the pace of their engagement with Greece. Renewal requires a new qualifying investment value, not a residency period.

Current restrictions

What changed in 2023–2024

The program has been modified several times. These are the constraints that currently affect investors and should be understood before selecting a property.

Different thresholds by zone

The €800,000 minimum now applies in Athens, Thessaloniki, Mykonos, and Santorini. All other regions — including Epirus — remain at €250,000. Property selection must be mapped to the correct zone before committing.

Minimum property size requirements

Size requirements apply in certain property categories. The documentation for each asset must be reviewed to confirm compliance before the application is submitted.

Short-term rental restriction

Golden Visa properties may not be operated as short-term rentals (Airbnb-style). Long-term leasing and commercial hospitality operations remain permitted — the ban targets specifically the short-term residential rental model.

Enhanced due diligence

Proof-of-funds verification has been tightened. The source of investment capital must be documented and compliant from the outset — retroactive remediation is not possible once the application is submitted.

Due diligence and compliance

The Epirus case

Why Epirus changes the investment calculus

The Golden Visa is a residency instrument. The real estate behind it is an investment. In most high-demand zones, the investment case is secondary — you are paying €800,000 for a permit, and the asset is a means to that end. In Epirus, both arguments work simultaneously.

The €250,000 threshold means the capital required for residency qualification is less than a third of what Athens demands. The surplus — assuming an investor's budget is not constrained to the minimum — can be deployed into a second asset, or into a higher-quality asset in Epirus itself.

The short-term rental ban that concerns many investors in island markets is largely irrelevant in Ioannina. The demand driver there is corporate and long-term — IT professionals, auditors, and students on contracts. A well-positioned asset in Ioannina carries long-term residential tenants by default, not by restriction.

The appreciation argument applies more forcefully in Epirus than in Athens precisely because prices have not yet moved to reflect demand. An investor in Athens is buying into a market that has already repriced. An investor in Epirus is buying before that repricing occurs.

These are not guarantees. They are the factors a rational investor should weigh when comparing Golden Visa options across Greek regions.

Epirus investment landscape

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We will map the options available to you, outline the properties that qualify, and explain the process from first contact to permit issuance. No obligation.

Properties qualifying for the Golden Visa

Three verified Athens assets from €250,000 — Gazi, Exarcheia, and Neos Kosmos. Each comes with full legal documentation and due diligence support on request.

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