Greece Citizenship by Investment: How to Apply

Have you ever pictured yourself sipping coffee at a café in Plaka, with the Acropolis in view? Maybe you’ve imagined island hopping through the Cyclades on a whim. For many, this Mediterranean dream feels distant, but a popular route is making it a reality through the Greece Citizenship by Investment program.

This path allows you and your family to live, work, and study not just in Greece, but across the European Union. But how does it really work?

You’ll learn about the investment options, the step-by-step application process, and what it takes to turn that dream of a Greek passport into your new life.

Table Of Contents:

• What Is the Greece Golden Visa Program?
• The Big Benefits: Why Choose Greece?
  • Visa-Free Travel Across the Schengen Area
  • A Pathway to an EU Passport
  • Include Your Family Members
  • No Physical Residency Requirement to Maintain the Visa
• Investment Options for the Golden Visa
  • The Popular Choice: Real Estate Investment
  • Other Investment Paths
• Step-by-Step Application Process for Greece Citizenship by Investment
• From Golden Visa Resident to Greek Citizen
• Costs and Fees
• Conclusion

What Is the Greece Golden Visa Program?

First, let’s clear up a common point of confusion. The journey towards getting Greek citizenship through investment almost always starts with the Greece Golden Visa. This visa program is one of the most successful of its kind in Europe.

This is a residency-by-investment program. It grants you a five-year residence permit in exchange for a significant investment in the country. The permanent residence permit is renewable as long as you maintain the qualifying investment. After holding this Greece residency for a set period, you can then apply for citizenship.

So, it is not a direct purchase of a passport, but it’s the official pathway offered by the Greek government to getting one. This distinction is important for any main applicant to understand from the beginning.

The Big Benefits: Why Choose Greece?

Several European countries offer similar programs. But what does Greece offer that makes it stand out?

Greece has some powerful advantages that keep it at the top of the list for global investors and families looking for a change.

Visa-Free Travel Across the Schengen Area

The moment you get your Greek residence permit, you gain freedom of movement. You and your family can travel throughout the Schengen area without needing any more visas. This benefit is a major draw for visa holders from countries with more restrictive travel options.

This zone includes most EU countries, creating a vast area for seamless travel. It makes business trips, family vacations, and spontaneous weekend getaways incredibly simple. Imagine being able to visit Greece one week and Paris the next without any visa paperwork.

A Pathway to an EU Passport

The Golden Visa is your starting point. After living in Greece for seven years and meeting certain conditions, you become eligible to apply for full Greek citizenship.

A Greek passport is an EU passport. This gives you the right to live, work, and study in any of the 27 EU member countries, plus Iceland, Liechtenstein, Norway, and Switzerland. It also gives you access to world-class healthcare and education systems across the continent, often at the same cost as locals.

Include Your Family Members

Greece’s visa program is known for being family-friendly. Your single investment can cover your entire immediate family, making it a practical choice. This inclusive approach sets the Greek Golden Visa apart from other programs.

A family member can include your spouse or partner, your unmarried children under 21, and dependent parents of both you and your spouse. This multi-generational coverage allows families to stay together while building a new future in Europe. Some recent changes may even allow children up to 24 if they are students and dependent on the applicant.

No Physical Residency Requirement to Maintain the Visa

This is a huge benefit for many investors. To keep your Golden Visa active and renew your residence permits, you don’t actually need to live in Greece. You are free to visit Greece whenever you wish without being obligated to stay.

You can continue living in your home country while your residency remains valid. Although, if citizenship is your ultimate goal, you will need to establish Greece as your primary home later on and become a tax resident. This flexibility in the initial years is a significant advantage.

Investment Options for the Golden Visa

The program gives you a few different ways to make your qualifying investment. While one option stands out as the most popular, it is wise to consider all paths. The investment requirement is specific to each option.

The Popular Choice: Real Estate Investment

Most applicants choose to buy property in the Greek real estate market. The process is straightforward, and it gives you a tangible asset in a beautiful country. This investment in a real estate property can also generate rental income, providing a return on your investment.

However, the minimum investment amount has recently changed. The Greek government updated the rules to manage the active estate market demand in popular areas. This adjustment impacts the Golden Visa cost for many applicants.

Here is a breakdown of the current property investment thresholds for residential and commercial properties.

This tiered system means you must be strategic about where you buy Greek real estate. Areas outside of the main tourist hotspots still offer a lower entry point, which can be a fantastic value. The changing eligibility criteria require careful consultation with a legal advisor.

Other Investment Paths

While over 90% of applicants choose real estate, you do have other options. For those who prefer financial assets over a physical estate property, the Greek Golden Visa program provides several alternatives.

These include a capital contribution of at least €400,000 in Greek government bonds. You could also invest the same amount in a real estate investment company or in corporate bonds. Another option is a term deposit of at least €400,000 in a Greek credit institution.

These routes are less common but could be a good fit depending on your financial strategy. They avoid the complexities of property management but may offer different risk and return profiles.

Step-by-Step Application Process for Greece Citizenship by Investment

Securing your Golden Visa is a multi-step journey. The application process requires careful planning and attention to detail. Here’s a look at the key stages of the golden visa application.

1. Choose Your Investment

   Your first move is deciding how you will invest. If you choose a real estate property, this means finding the right house, apartment, or commercial building. It is important to work with trusted agents and lawyers to conduct due diligence on any Greek real property you consider.

2. Legal Preliminaries

   Before you can buy anything, you need some basic Greek paperwork. This means you must get a Greek Tax Number, known as an AFM. An AFM is essential for all financial transactions in Greece, from opening a bank account to purchasing property.

   You will also need to open a Greek bank account. All investment funds must be transferred through this account to prove the legitimate origin of the money. This step is critical for compliance with anti-money laundering regulations.

3. Complete the Investment

   With your AFM and bank account set up, you can finalize the purchase or financial investment. For real estate, this involves signing the final deed and paying any related taxes. For financial investments, it means completing the transfer of funds for Greek government bonds or other assets.

   Make sure you get official proof of the transaction. You will need this documentation for your Golden Visa application. A lawyer will help gather all the necessary receipts and certificates.

4. Gather Your Documents

   Now it’s time to pull together your application packet. The list of required documents can be long and must be completed with care. This stage often has the longest lead time due to third-party processing.

   It typically includes valid passports for every family member, birth and marriage certificates, and proof of Greek health insurance. You also need the property deed and proof that the main applicant and dependents have a clean criminal record from their country of residence. All foreign documents usually require an Apostille stamp and official translation into Greek.

5. Submit Your Application and Provide Biometric Data

   Once you have everything organized, you or your lawyer can submit the application. This is done at the Ministry of Migration and Asylum in Greece. Upon submission, you receive a temporary permit that allows you to stay in Greece.

   You will be scheduled for a biometric appointment. At this appointment, they will take fingerprints and photos for your residency cards. This biometric data is a standard security measure for issuing residence permits.

6. Receive Your Permanent Residence Permit

   After your biometrics are submitted, the government reviews your file. The official processing time can vary, but once approved, you’ll receive your Golden Visa residence permit. This permit grants you permanent residency status, subject to renewal.

   This permit is valid for five years. You can renew it every five years after that, as long as you continue to hold your investment. The renewal process is typically straightforward if your circumstances have not changed.

From Golden Visa Resident to Greek Citizen

Remember, the Greece Golden Visa provides residency, not immediate citizenship. To get a Greek passport, you have to complete the naturalization process. This requires a longer-term commitment to the country.

You must have been a legal resident of Greece for at least seven consecutive years. During most of this time, Greece must have been your main center of life, meaning you spent at least 183 days per year there. This is a key difference from the flexible requirement for maintaining the Golden Visa itself.

When you apply for citizenship, you will need to prove your ties to the country. This includes passing a Greek language test and a civics exam on Greek history and government. You must also demonstrate that you have integrated into Greek society and have no standing criminal record.

One of the best parts is that Greece allows dual citizenship. So, you will not have to give up your original passport when you become a Greek citizen. This is an important consideration for many global citizens concerned about retaining their original nationality.

Costs and Fees

The main investment is the biggest expense, but the total Golden Visa cost is higher. You need to budget for several other fees to avoid any surprises along the way.

Keep these additional costs in mind:

• Property Transfer Tax: This is a tax paid to the government when you buy a property, typically around 3.09% of the property value.
• Legal Fees: You will need a lawyer in Greece to handle the property purchase and the Golden Visa application, often ranging from 1-2% of the property value.
• Notary and Land Registry Fees: These are standard fees for officially registering the property transaction, usually around 1% of the value.
• Application and Card Fees: There are government fees for submitting the application and issuing the residency cards for each family member.
• Health Insurance: All applicants must have valid health insurance coverage in Greece, which can vary in cost based on the provider and coverage level.
• Ongoing Costs: If you buy a property, remember to account for annual maintenance, property taxes (ENFIA), and potential income tax if you become a tax resident and earn rental income.

Conclusion

The pathway to Greece citizenship by investment is a serious undertaking, but the rewards can be life-changing. It starts with securing a permanent residence permit through the Golden Visa program, most often by purchasing a property in the vibrant Greek real estate market. This move unlocks visa-free travel in Europe and opens the door to full EU citizenship after seven years.

While the process requires a significant financial commitment and careful planning through each step of the application process, the benefits for you and your family are huge. Gaining the freedom to live and work across Europe while enjoying the Greek lifestyle is an incredible opportunity. For those looking for global mobility, the program for Greece citizenship by investment offers one of the best options available today.