How to buy a house in Greece and get residency?

Authored by the expert who managed and guided the team behind the Greece Property Pack

Everything you need to know before buying real estate is included in our Greece Property Pack

Who is the author of this content?

INVESTROPA

A team specialized in real estate investing in APAC countries (Japan, Thailand, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Greece. If you'd like to learn more about us, you can check our presentation page.

How this content was created 🔎📝

At InvestRopa, we explore the Greek real estate market every day. Our team doesn't just analyze data from a distance—we're actively engaging with local realtors, investors, and property managers in cities like Athens, Thessaloniki, and the Greek islands. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

These observations are originally based on what we've learned through these conversations and our observations. But it was not enough. To back them up, we also needed to rely on trusted resources

We prioritize accuracy and authority. Trends lacking solid data or expert validation were excluded.

Trustworthiness is central to our work. Every source and citation is clearly listed, ensuring transparency. A writing AI-powered tool was used solely to refine readability and engagement.

To make the information accessible, our team designed custom infographics that clarify key points. We hope you will like them! All illustrations and media were created in-house and added manually.

How much do I need to invest in real estate to qualify for residency in Greece?

The minimum real estate investment for Greek residency varies significantly based on location and property type.

For properties in high-demand areas including Attica (Athens region), Thessaloniki, Mykonos, and Santorini, you need €800,000 for a single property of at least 120 square meters. This threshold increased from €250,000 in September 2023 due to overwhelming demand in these premium locations.

Properties in all other Greek regions require €400,000, offering more affordable access to EU residency. The most cost-effective option remains at €250,000 for specific cases: converting commercial properties to residential use or restoring historic buildings designated by the Ministry of Culture.

As we reach mid-2025, these investment thresholds remain stable, with no announced changes to the current structure. The Greek government has maintained these levels to balance investor interest with local housing market protection.

It's something we develop in our Greece property pack.

Is there a Golden Visa program in Greece and what does it include?

Greece's Golden Visa program grants non-EU investors a 5-year residency permit renewable indefinitely as long as the investment is maintained.

The program includes visa-free travel throughout the 26 Schengen Area countries, effectively providing access to most of Europe without additional visa requirements. Permit holders can live anywhere in Greece, rent out their property for income, and enjoy the same healthcare and educational benefits as Greek residents.

Family inclusion covers spouse, children under 21, and parents of both the main applicant and spouse without additional investment requirements. The program requires no minimum physical presence in Greece, making it attractive for investors seeking EU access without relocation obligations.

Renewal occurs every 5 years through a simplified process, requiring proof that the qualifying investment remains active and payment of renewal fees. The permit maintains its validity as long as the property ownership or alternative qualifying investment continues.

Can I get permanent residency or citizenship eventually through investment in Greece?

The Golden Visa provides a clear pathway to both permanent residency and Greek citizenship through continued legal residence.

Permanent residency becomes available after 5 years of continuous legal residence in Greece, transitioning from the renewable temporary permits to indefinite residence rights. This status no longer depends on maintaining the original investment, providing greater security and flexibility.

Greek citizenship eligibility begins after 7 years of legal residence, requiring applicants to demonstrate Greek language proficiency at B2 level, knowledge of Greek history and culture, a clean criminal record, and proof of financial stability. The citizenship process involves written and oral examinations administered by Greek authorities.

Successful citizenship applicants receive a Greek passport, providing full EU citizenship rights including voting, unrestricted movement, and the ability to live and work anywhere in the European Union. Greece allows dual citizenship, so investors typically retain their original nationality.

What are the exact steps to apply for Greek residency through real estate investment?

The application process follows a structured 5-step procedure managed primarily through digital platforms.

Step	Action Required	Timeline
1. Investment Selection	Choose qualifying real estate or alternative investment, secure property deed	Varies by property search
2. Document Preparation	Gather passport, property deed, medical insurance, proof of funds, Greek tax number (AFM)	2-4 weeks
3. Electronic Submission	File application via Ministry of Migration portal (applications.migration.gov.gr)	1 day
4. Biometric Appointment	Provide fingerprints and photos in Greece within 2 months of submission	Must occur within 60 days
5. Permit Issuance	Receive approval and residence permit card	2-3 months from submission

How long is the residency permit valid and can it be renewed?

Greek Golden Visa permits have a 5-year validity period with straightforward renewal procedures.

Renewal requires maintaining the qualifying investment, submitting updated documentation including proof of property ownership or alternative investment continuation, current medical insurance, and payment of renewal fees. The process typically takes 2-3 months and can be completed without physical presence in Greece.

There's no limit to the number of renewals possible, effectively providing indefinite residency as long as investment requirements remain met. After 5 years of continuous residence, holders can apply for permanent residency, eliminating the need for future renewals and investment maintenance.

The renewal process has become increasingly digitized, with most documentation submitted electronically through the Ministry of Migration portal. Legal representatives can handle renewals on behalf of permit holders, further simplifying the process for non-resident investors.

Can I include my spouse and children in my residency application?

The Golden Visa program allows comprehensive family inclusion without additional investment requirements.

Eligible family members include spouse or registered partner, unmarried children under 21 years of age, and parents of both the main applicant and spouse. Each family member receives the same 5-year residency permit with identical rights and renewal procedures.

Additional financial proof may be required for family members, typically 20% additional income documentation for a spouse and 10% for each child. All family members must have clean criminal records and valid medical insurance covering their stay in Greece.

Family members maintain their residency status even if family circumstances change, such as children reaching majority age or divorce, provided they meet individual residence requirements. Children who turn 21 can apply for independent residence permits based on their established residence history.

It's something we develop in our Greece property pack.

What are the main requirements and documents needed for the residency application?

The application requires specific documentation proving identity, investment, financial capacity, and health coverage.

1. **Identity Documents**: Valid passport with at least 6 months remaining validity, certified translations to Greek for non-EU passports2. **Investment Proof**: Property deed or purchase contract, professional property valuation, proof of payment for the full investment amount3. **Financial Documentation**: Bank statements showing sufficient funds, proof of income or assets, tax clearance from home country4. **Health Requirements**: Comprehensive medical insurance valid in Greece with minimum €30,000 coverage, recent medical certificate5. **Legal Clearances**: Criminal background check from home country and any country of residence in past 5 years, apostilled and translated to Greek6. **Greek Administrative**: Greek tax number (AFM) obtained from local tax office, utility bills or rental agreement if already residing in Greece

Are there other types of investment besides real estate that qualify for residency, like starting a business?

Greece offers several alternative investment routes to real estate for Golden Visa qualification.

Financial investments include €400,000 in Greek company shares, government or corporate bonds, or term deposits in Greek banks. Government bonds require €500,000 investment, while real estate investment funds need the same amount. These options provide portfolio diversification while meeting residency requirements.

Startup investment represents the most innovative route, requiring €250,000 in Greek innovative startups or venture capital funds. This option appeals to entrepreneurs seeking active business involvement alongside residency benefits. The startup must be registered in Greece and meet specific innovation criteria set by the Ministry of Development.

Business creation through establishing a Greek company requires significant investment and job creation commitments but offers operational control and potential higher returns. The investment threshold varies based on business type and employment generation, typically starting at €400,000 for substantial enterprises.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Greece versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.

What is the process for getting citizenship in Greece after having residency through investment?

Greek citizenship becomes available after 7 years of legal residence through a naturalization process requiring cultural and linguistic integration.

The application begins with submitting naturalization papers to the local municipal authority where you maintain residence. Required documentation includes proof of 7 years continuous legal residence, current residence permit, Greek tax returns, and evidence of community integration such as property ownership or employment history.

Language proficiency examination requires B2-level Greek competency in speaking, reading, and writing, administered by certified Greek language centers. The cultural knowledge test covers Greek history, constitution, and civic responsibilities. Both examinations must be passed before proceeding to the final citizenship ceremony.

The final step involves taking an oath of allegiance to the Greek state and constitution before municipal officials. Processing time varies from 1-4 years depending on application volume and documentation completeness. Successful applicants receive Greek citizenship certificates and can apply for Greek passports immediately.

How long does the application process typically take and are there any common delays?

Standard Golden Visa processing takes 2-3 months from complete application submission to permit issuance.

The timeline breaks down as follows: document preparation (2-4 weeks), electronic submission (immediate), biometric appointment scheduling (1-2 weeks wait time), and final processing after biometrics (6-8 weeks). Expedited processing may be available for urgent cases with additional fees.

Common delays include incomplete property title verification, especially for older properties with unclear ownership history, missing or improperly apostilled documents from applicants' home countries, and medical insurance policies that don't meet Greek requirements. Properties in disputed areas or those with pending legal issues can cause significant delays.

Fraud prevention measures have increased scrutiny in high-demand areas, leading to extended due diligence periods for properties in Athens, Mykonos, and Santorini. Working with established legal representatives and verified property agencies significantly reduces delay risks and processing complications.

What do people who have gone through the process say — what worked and what challenges did they face?

Successful applicants consistently emphasize the importance of professional legal representation and thorough property due diligence.

Most positive experiences involve investors who engaged reputable Greek lawyers from the initial property search phase, ensuring clean title verification and proper documentation preparation. Investors report that spending additional time on property selection and legal verification prevented delays and complications during the application process.

Common challenges include navigating language barriers during property transactions, understanding complex Greek bureaucracy, and dealing with varying service quality among real estate agents. Several investors report frustration with properties that appeared suitable but had hidden legal issues or inflated valuations.

Success strategies include visiting Greece multiple times before final property selection, working with lawyers who specialize in Golden Visa applications rather than general practice, and maintaining realistic timelines that account for potential bureaucratic delays. Investors who approached the process systematically rather than rushing for quick residency reported higher satisfaction levels.

It's something we develop in our Greece property pack.

Is it necessary to live in Greece or spend a minimum number of days per year to keep the residency active?

Greece's Golden Visa program requires no minimum physical presence to maintain residency status.

Permit holders can maintain their residency without spending any time in Greece, making it one of Europe's most flexible investor visa programs. The only requirement is maintaining the qualifying investment and renewing the permit every 5 years with proper documentation and fee payment.

However, physical residence becomes important for those seeking permanent residency or citizenship. Permanent residency requires 5 years of continuous residence, while citizenship requires 7 years of legal residence with demonstrated community integration and language proficiency.

Many investors use their Greek properties as vacation homes while maintaining primary residence elsewhere, maximizing the program's flexibility. Property owners can rent their investments for income while maintaining residency rights, creating passive income streams alongside EU access benefits.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Sources

1. Global Citizen Solutions - Greece Golden Visa New Rules
2. ETIAS - Real Estate Investors Turn to Greek Golden Visa
3. Henley Global - Greece Residence by Investment
4. Nomad Gate - Greek Golden Visa Guide
5. Holborn Pass - Greece Country Programme
6. Harvey Law Corporation - Greece Golden Visa
7. Global Residence Index - Greece Golden Visa
8. My Golden Visa - Greece Citizenship After Golden Visa
9. iLand - Greek Citizenship Through Investment Guide
10. NTL Trust - Greece Residency by Investment