Greece publishes new rules on Golden Visa

Greece publishes new rules on Golden Visa

Greece has published a new set of rules on how foreign investors can qualify for its Golden Visa, broadening the criteria of the residency program.

A joint decision signed by three ministries (Development, Citizens Protection and Foreign Affairs ministries) has been published in the government gazette outlining how non-EU nationals can obtain a five year residency permit for them, and their families, by investing in Greece.

Real estate remains the cheapest option as the visa is awarded in exchange for property acquisitions worth 250,000 euros, while those looking at placing their money in bank deposits, government bonds (with more than three years before maturity) or shares in a real estate investment company (REIC) will have to dig deeper in their pockets and invest 400,000 euros. Those interested in buying into other companies or corporate bonds will need to invest at least 800,000 euros.

Rising demand for Greece's Golden Visa, one of the cheapest in Europe, has helped drive home prices higher with buying from non EU nationals mainly targeting central Athens apartments, beachside Athens property, along a stretch known as the Athens Riviera, and holiday homes on popular islands such as Mykonos and Crete.

In the last year or so, the program has become one of the most popular investment-for-residency schemes in the world, strongly supported by Chinese, Russian and Turkish investors.


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