Residence permit by purchasing real estate in Greece

Greece offers one of the most attractive residency-by-investment programmes in the European Union: the Greek Golden Visa scheme. Under this scheme, non-EU citizens can obtain residency by purchasing real estate in Greece, which grants them the right to reside in the country and travel freely within the Schengen area.

The main requirement is to purchase real estate in Greece with a minimum value of €250,000. However, certain regions, including Athens, Thessaloniki, Mykonos and Santorini, have recently introduced higher thresholds, increasing the minimum investment amount to €500,000.

The property can be residential or commercial, and can be owned by an individual or a legal entity, provided the investor owns all the company’s shares. The investment must be fully completed and the title deed must be registered in the investor’s name before they can apply for a residence permit.

Initially, the residence permit is issued for a period of five years and can be renewed indefinitely every five years, provided ownership of the property is retained. The programme does not require permanent residence in Greece — there are no minimum stay requirements.

The investor’s spouse, children under the age of 21 and parents are also eligible for a residence permit. All family members receive separate biometric cards granting the same rights to reside and travel within the Schengen area.

The residence permit application process involves several stages: purchasing and registering real estate; preparing the necessary documents (purchase agreement, proof of payment, land registry extract, medical insurance); submitting an application to the relevant decentralised administration; and submitting biometric data. Once approved, the applicant is issued a residence permit card granting the right of residence and free movement.

Please note that a Greek residence permit does not automatically grant the right to citizenship. However, after seven years of continuous residence in Greece, the investor may apply for naturalisation provided they meet the language proficiency and integration requirements.

This programme remains one of the most accessible and flexible in Europe, combining investment opportunities in the real estate market with residence rights and long-term benefits for investors and their family members.

The property purchased to obtain a residence permit in Greece must meet certain requirements

To obtain a residence permit through the purchase of real estate, the property must meet certain legal requirements. These conditions aim to confirm the legality of the origin of the funds, ensure the transparency of the transaction, and guarantee that the investment meets the minimum threshold set by the state.

The minimum value of the property purchased must be at least €250,000. However, in certain regions of the country that have seen increased interest from foreign investors, higher thresholds of €500,000 have been set. These regions include Athens, Thessaloniki, Mykonos and Santorini.

The property can be residential or commercial. Several properties may be purchased if their total value meets the established minimum. Each property must be wholly owned by the investor and registered in their name in the land registry.

The property must be free of encumbrances, seizures or pledges. Purchase is carried out exclusively on the basis of a notarised purchase agreement, which is subject to mandatory state registration. Payment for the property must be made officially, via bank transfer or another confirmed method that ensures transparency regarding the origin of the funds.

An investor may purchase real estate either as an individual or through a legal entity, provided they are the sole owner of the company. Real estate may also be purchased as joint property of spouses, provided that the total value of each spouse’s share meets the established requirements.

In order to apply for a residence permit, you must provide documents confirming ownership of the property, an extract from the land registry, the purchase agreement, proof of payment and a valid insurance policy that covers medical expenses in Greece.

Thus, the property purchased must be legally documented and registered, and its value must correspond to the established minimum investment requirement. Compliance with these requirements is a prerequisite for successfully obtaining a Greek residence permit under the Golden Visa programme.

The procedure for obtaining a residence permit in Greece through the purchase of real estate is as follows:

• The procedure for obtaining a residence permit in Greece through the real estate investment programme is clearly regulated and includes several consecutive stages aimed at verifying the legality of the transaction and confirming the investor’s right to obtain a residence permit.
• The first stage is the selection and purchase of real estate. The investor must conclude a notarised purchase agreement, pay the full agreed amount, and register ownership of the property in the land registry. Payment must be confirmed by bank documents indicating the source and legality of the funds.
• Once the transaction has been completed, the investor will receive a notarised copy of the purchase agreement, an extract from the land registry confirming the registration of ownership and a certificate confirming full payment for the property. These documents serve as main evidence of the right to apply for a residence permit.
• The next step is to prepare the application documents. In addition to the property’s title documents, the applicant must submit a foreign passport, photographs, valid medical insurance, a certificate confirming they have no criminal record and proof of legal residence in Greece (e.g. a valid Type D visa).
• The application is submitted to the territorial office of the Ministry of Migration and Asylum, or to the relevant decentralised administration of the region in which the purchased property is located. Upon submission, the investor is issued with a temporary confirmation allowing them to legally reside in Greece until the main document is received.
• After submitting the application, a date will be set for submitting biometric data, such as fingerprints and a digital photograph. Applications are usually processed within one to two months, after which applicants are issued with a plastic residence permit card valid for five years.
• After five years, the investor has the right to renew their residence permit, provided they retain ownership of the property and meet all legal requirements. Renewal does not require permanent residence in Greece.
• The programme also applies to the investor’s family members, including spouses, children under 21, and parents on both sides. Separate applications must be submitted for them, but their right to a residence permit is based on the same property.

Thus, the procedure for obtaining a residence permit in Greece through the purchase of real estate is transparent and predictable. From concluding the transaction to receiving the residence card, the process usually takes several months and does not require the applicant to reside in Greece.

How long is a residence permit issued for upon purchase of real estate in Greece?

A residence permit in Greece under the real estate investment programme is issued for a period of five years. This period is standard for all investors, regardless of the property’s cost, location, or the number of properties included in the investment.

After the five-year period expires, the investor is entitled to extend the residence permit for subsequent five-year periods. The condition for renewal is retaining ownership of the property that formed the basis of the initial residence permit. In other words, the investor must still own a property whose value meets the minimum threshold of €250,000 or €500,000, depending on the region.

Extension is carried out using a simplified procedure, with no need to resubmit a full set of documents. In most cases, it is sufficient to provide updated title documents, confirmation that there have been no changes in ownership, a valid insurance policy, and current biometric data.

A distinctive feature of the Greek programme is that there is no requirement for permanent residence in Greece. This means that investors may not reside in Greece for extended periods, yet still retain all the rights granted by the residence permit.

Through long-term real estate ownership and fulfilment of certain conditions, including residing in Greece for at least seven years, investors have the opportunity to apply for Greek citizenship by naturalisation.

Therefore, a residence permit for investing in Greek real estate is a long-term, flexible tool that enables you to maintain your status without being required to reside in Greece, provided you continue to own the property purchased to participate in the programme.

Does a residence permit for the purchase of real estate in Greece extend to the property owner’s family?

A residence permit obtained in Greece on the basis of investment in real estate applies not only to the main applicant, but also to their family members. Greek law provides for the possibility of obtaining a residence permit for close relatives of the investor, granting them the same rights to reside and move freely within the Schengen area.

This includes the investor’s spouse, children under the age of 21, and the parents of both the investor and their spouse. This makes the Greek programme one of the most flexible and family-friendly schemes in the European Union.

Each family member receives a separate biometric residence permit card valid for the same period as the investor’s main permit — five years. The validity of all family cards is synchronised with that of the main residence permit, and they are renewed simultaneously with the investor’s permit.

To obtain a residence permit for family members, separate applications must be submitted, accompanied by documents confirming family ties, such as a marriage certificate or birth certificates, and these must be translated into Greek and notarised. All documents must be legalised or apostilled in the country of issue.

The investor’s spouse receives the same rights to reside and work in Greece, unless the permit is issued solely for residence purposes without the right to work. Children retain their status until they reach the age of 21; after this, they can extend their residence permit if they are studying or financially dependent on their parents.

Thus, the residence permit programme for purchasing property in Greece protects the interests of the investor’s entire family, providing the opportunity to live, study and travel together without additional visa restrictions.

How can a residence permit in Greece be extended through the purchase of real estate?

Renewal of a residence permit obtained on the basis of a property purchase is carried out under a simplified procedure and does not require repeat investment. The main condition for renewal is retaining ownership of the property that formed the basis of the initial residence permit.

Applications for renewal should be submitted to the local office of the Ministry of Migration and Asylum or the decentralised administration of the region where the property is located. It is recommended that the application is submitted several months before the current permit expires to avoid a break in legal residence status.

To extend the permit, the investor must submit the following documents:

• a valid foreign passport
• a copy of the current residence permit
• a notarised purchase agreement and an extract from the land register confirming that the property is still owned by the applicant
• a certificate confirming there are no outstanding taxes or utility bills
• valid medical insurance in Greece
• current biometric data

After submitting the application, the investor receives temporary confirmation allowing them to legally reside in Greece until the new residence permit card is issued. The application review period usually does not exceed a few months.

However, if the property is sold before the renewal date, the investor will lose the right to a residence permit unless they purchase another property that meets the minimum investment threshold during the same period.

The residence permit for family members is renewed at the same time as the main investor’s permit. All family cards have the same validity period and entitle the holder to reside and move within the Schengen area.

Therefore, in order to retain a residence permit in Greece, an investor only needs to maintain ownership of the property, renew their medical insurance in a timely manner and submit renewal documents within the established deadlines. The programme does not require mandatory residence in Greece, making it one of the most convenient options for long-term investment in Europe.