Greece Golden Visa: Minimum Investment Requirements and Pathways to European Residency

Reading time: 12 minutes

Table of Contents

• Introduction: The Allure of Greece’s Golden Visa
• Investment Options and Minimum Requirements
• Real Estate Investment Pathway
• Financial and Business Investment Alternatives
• Complete Cost Analysis: Beyond the Minimum Investment
• The Application Process: A Step-by-Step Guide
• Competitive Analysis: How Greece Compares to Other Golden Visa Programs
• Success Stories and Case Studies
• Your European Journey: Maximizing Your Greek Golden Visa Investment
• Frequently Asked Questions

Introduction: The Allure of Greece’s Golden Visa

Searching for a foothold in Europe through investment? You’re not alone. Greece’s Golden Visa program has emerged as one of the most attractive pathways to European residency, combining competitive minimum investment thresholds with the undeniable appeal of Mediterranean living.

Since its launch in 2013, Greece’s residency-by-investment program has attracted over 9,500 investors, generating more than €2.8 billion in foreign direct investment. While other European Golden Visa programs have raised their entry barriers or shut down entirely, Greece continues to offer accessible options with tangible benefits.

But here’s the straight talk: navigating the minimum investment requirements demands strategic thinking. The headline €250,000 figure you’ve likely encountered is just the starting point of a more nuanced financial commitment.

Consider this scenario: You’re deciding between a €250,000 apartment in Athens or a €400,000 commercial property with rental potential. Which truly represents the better value when factoring in additional costs, market appreciation, and lifestyle benefits?

Let’s cut through the marketing claims and examine exactly what you’ll need to invest—and what you’ll get in return—when pursuing Greece’s Golden Visa.

Investment Options and Minimum Requirements

Greece offers multiple investment pathways to residency, each with distinct minimum thresholds and potential advantages. Unlike some competing programs that limit options to real estate, Greece provides diverse investment channels to accommodate different financial strategies and goals.

Summary of Investment Pathways

The Greek government has strategically designed multiple entry points for their residency program, recognizing that investor needs vary significantly. Here’s the comprehensive breakdown of minimum investment options currently available:

Pro Tip: While the €250,000 real estate threshold appears most attractive, property values in prime areas of Athens and popular islands have risen substantially. Many investors now find themselves exploring the €300,000-€350,000 range for quality properties with stronger appreciation potential.

Recent Policy Changes

The landscape is evolving. As of September 2023, the Greek government has implemented geographical restrictions on the €250,000 real estate option. Properties in prime areas of Athens, Thessaloniki, Mykonos, and Santorini now require higher minimum investments (generally €500,000), while the €250,000 threshold remains available in less saturated regions.

“These policy adjustments reflect Greece’s strategic pivot from pure capital attraction to more sustainable regional development,” explains Alexandros Risvas, Managing Partner at Risvas & Associates, a leading Greek immigration law firm. “Investors should view these changes not as obstacles but as signals for where genuine property value opportunities exist.”

Real Estate Investment Pathway

The real estate option remains the most popular route to the Greek Golden Visa, accounting for approximately 94% of all applications. Here’s what you need to know about navigating this investment pathway effectively.

Property Types and Geographic Considerations

Your €250,000 minimum investment can purchase:

• Residential properties: Apartments, houses, or multiple smaller properties totaling the minimum amount
• Commercial properties: Office spaces, retail units, or hotels
• Land: With or without development plans (some restrictions apply)
• Mixed-use properties: Combined residential and commercial spaces

The geographic restriction introduced in 2023 creates a two-tier system:

Tier 1 (€500,000 minimum): Central Athens (specifically the municipalities of Athens, Filothei-Psychiko, Kifissia, Maroussi, Vrilissia, Glyfada, Elliniko), central Thessaloniki, Mykonos, and Santorini.

Tier 2 (€250,000 minimum): All other regions including Athens suburbs outside the restricted zones, mainland Greece, and most islands.

Quick Scenario: Maria, a Canadian investor, initially planned to purchase a €270,000 apartment in central Athens. After the policy change, she pivoted to a €280,000 property in the Athens suburb of Voula, securing her Golden Visa while remaining within her budget constraints and gaining access to a neighborhood with strong appreciation potential.

Joint Investments and Family Considerations

A strategic approach many investors overlook is joint investment. If you’re concerned about meeting the minimum threshold, consider these options:

• Co-investing with family members, with each adult applicant receiving their own residency permit
• Purchasing multiple smaller properties that collectively meet the minimum investment
• Combining commercial and residential investments to build a more diversified portfolio

Important note: Your immediate family members (spouse and dependent children under 21) are included in your application without additional investment. Parents of the main applicant and spouse can also apply but may require separate property purchases.

Financial and Business Investment Alternatives

While real estate dominates the Golden Visa landscape, alternative investment pathways offer distinct advantages for certain investor profiles. These options generally require a higher €400,000 minimum investment but provide different risk-return characteristics.

Bank Deposits and Fixed Income Options

The €400,000 bank deposit option provides a straightforward, low-maintenance path to residency. Funds must be deposited in a Greek bank for the five-year holding period.

Advantages include:

• No property management headaches or maintenance costs
• Liquidity at the end of the holding period without sales processes
• Potential interest income (though rates remain relatively low)
• No exposure to real estate market fluctuations

Similarly, the €400,000 government bond investment offers a secure alternative backed by the Greek state, with potentially higher yields than bank deposits.

Business Investment Structures

For entrepreneurially-minded investors, the €400,000 business investment option opens doors to active participation in the Greek economy.

This pathway allows for:

• Establishing or acquiring a business in Greece
• Creating employment opportunities (which may lead to additional tax benefits)
• Direct operational control of your investment
• Potential for higher returns compared to passive investments

Consider the case of Javier, a Brazilian tech entrepreneur who invested €450,000 to establish a software development center in Thessaloniki’s growing tech hub. Beyond securing Golden Visa residency for his family, Javier’s business now employs 12 local developers and serves clients throughout the EU, benefiting from Greece’s competitive tech talent and strategic location.

Complete Cost Analysis: Beyond the Minimum Investment

The advertised minimum investment amounts represent just one component of your total financial commitment. Understanding the full range of costs is essential for accurate financial planning.

Additional Fees and Expenses

Beyond the core investment, budget for these additional costs:

• Property transfer tax: 3.09% of the property’s tax value (for real estate option)
• Application fees: €2,000 for the main applicant, €150 for spouse, €150 for each dependent child
• Legal fees: Typically €2,000-€5,000 depending on complexity
• Notary fees: Approximately 1-1.5% of the property value
• Land registry fees: 0.475% of the property value
• VAT on new properties: 24% (only applicable to first-time sales of properties with building permits issued after January 1, 2006)
• Annual property tax (ENFIA): Varies based on property size, location, and value

Let’s visualize how these costs stack up for a typical €250,000 real estate investment:

Pro Tip: Budget for approximately 20% above the minimum investment amount to cover all associated costs, particularly for real estate investments. For bank deposits or government bonds, this additional overhead is significantly reduced.

Ongoing Costs and Considerations

Beyond initial expenses, factor in these recurring costs:

• Residency permit renewal: Every five years at €1,000 per family member
• Property management: 8-12% of rental income if using a management company
• Annual property taxes: Typically €500-€2,000 depending on property characteristics
• Utility bills and maintenance: Approximately €1,500-€3,000 annually
• Health insurance: Required for all Golden Visa holders, costs vary by age and coverage

The Application Process: A Step-by-Step Guide

Successfully navigating from minimum investment to residency permit requires careful attention to procedural details. Here’s your roadmap to Greek residency:

Pre-Application Preparations

1. Select your investment pathway based on your financial capabilities and preferences
2. Gather required documentation:
   • Valid passport (with at least 6 months validity)
   • Clean criminal record certificate from your country of residence
   • Medical insurance covering your stay in Greece
   • Proof of sufficient financial resources
3. Secure legal representation with expertise in Greek immigration
4. Open a Greek bank account (required for property transactions)
5. Obtain a Greek tax number (AFM) through a simplified procedure for foreign investors

Making Your Investment and Submitting Your Application

1. Complete your chosen investment:
   • For real estate: Sign preliminary agreement, conduct due diligence, complete purchase
   • For financial instruments: Execute bank transfers and secure confirmation documents
   • For business investments: Establish legal entity and provide proof of capital injection
2. Submit application package to the nearest Greek Consulate or directly to the Immigration Office in Greece
3. Provide biometric data (fingerprints) for your residency permit
4. Receive entry visa allowing travel to Greece while your application is processed
5. Collect your residency permit card (typically issued within 2-3 months of application)

Practical Timeline: Most well-prepared applicants complete the entire process within 3-6 months from initial investment to residency card issuance. However, allowing for 6-9 months provides a more realistic buffer for potential bureaucratic delays.

Competitive Analysis: How Greece Compares to Other Golden Visa Programs

To truly understand the value proposition of Greece’s minimum investment requirements, we need to position them within the competitive landscape of European residency-by-investment programs.

Comparative Investment Thresholds

Greece’s €250,000 entry point remains one of Europe’s most accessible Golden Visa thresholds, though this advantage is becoming more nuanced with the new geographic restrictions.

Key Differentiator: While Portugal and Malta offer slightly faster paths to citizenship, Greece’s combination of lower entry investment and significant lifestyle benefits continues to attract investors seeking both European residency and Mediterranean quality of life.

Program Benefits and Limitations

Beyond minimum investments, consider these aspects when evaluating Greece against alternatives:

• Residency Requirements: Greece requires just one visit every five years to maintain residency status—among the lowest physical presence requirements in Europe
• Family Inclusion: Spouse, dependent children under 21, and parents of both spouses can be included
• Travel Benefits: Free movement within the Schengen Area (90 days within any 180-day period)
• Tax Implications: No obligation to become tax resident unless staying more than 183 days per year
• Quality of Life: World-class healthcare, education, cuisine, and Mediterranean lifestyle

“Greece offers what I call the golden ratio of investment programs,” observes Dr. Christian Kalin, Chairman of Henley & Partners. “It balances accessible minimum investment thresholds with genuine lifestyle benefits and the security of EU residency, all without burdensome physical presence requirements.”

Success Stories and Case Studies

Abstract investment minimums come to life through the experiences of actual investors. Here are two representative cases that illustrate different approaches to the Greek Golden Visa.

Case Study 1: The Portfolio Investor

Zhang Wei, a business executive from Shanghai, approached his Greek Golden Visa investment with a portfolio mindset rather than simply meeting the minimum threshold:

• Investment Strategy: Rather than purchasing a single property at the €250,000 minimum, Zhang invested €380,000 split between two properties—a €220,000 two-bedroom apartment in Thessaloniki and a €160,000 holiday home on Paros island
• Rationale: Geographic diversification, combining urban rental potential with personal vacation use
• Outcome: Secured Golden Visa for his family of four while creating both income-generating and lifestyle assets
• Return Profile: The Thessaloniki property generates approximately 5.2% annual rental yield, while the Paros property has appreciated 18% in three years while providing personal enjoyment

Zhang’s Insight: “The minimum investment threshold was just my starting point. By thinking more broadly about my family’s goals, I created a balanced portfolio that serves multiple purposes beyond just securing residency.”

Case Study 2: The Business Pathway

Sarah and Michael Johnson, Canadian entrepreneurs in their mid-40s, chose the business investment route despite its higher €400,000 minimum requirement:

• Investment Strategy: Invested €460,000 to acquire and expand a boutique hotel on Corfu
• Rationale: Active income generation, hands-on business involvement, potential for significant value growth through operational improvements
• Outcome: Secured Golden Visa while creating a business that now employs seven local staff and generates substantial seasonal income
• Return Profile: After initial renovation investments, the business now generates over 12% annual return while providing a base for European operations

Sarah’s Perspective: “We could have met the minimum investment threshold through a basic property purchase, but the business pathway aligned with our active investment style. The higher initial commitment has paid off through stronger returns and deeper integration into our new community.”

Your European Journey: Maximizing Your Greek Golden Visa Investment

As you contemplate the Greek Golden Visa’s minimum investment requirements, consider these strategic principles to optimize your approach:

Investment Strategy Roadmap

1. Define your primary objectives beyond just obtaining residency—whether wealth preservation, income generation, lifestyle enhancement, or eventual citizenship
2. Consider investment horizons beyond the mandatory 5-year holding period—how does this fit within your broader wealth strategy?
3. Evaluate total return potential, factoring in both financial returns and quality-of-life benefits
4. Structure your investment to optimize tax efficiency across your global portfolio
5. Build flexibility into your approach, allowing for potential program changes or personal circumstance shifts

Remember: The minimum investment amount is just that—a minimum. The most successful Golden Visa investors focus on optimizing value rather than minimizing cost.

The Greek Golden Visa represents not just a transaction but a transformation—opening doors to European mobility, lifestyle enhancement, and strategic diversification. By approaching the program with thoughtful consideration beyond the minimum investment thresholds, you position yourself for both immediate benefits and long-term advantages.

What kind of European future are you building through your Golden Visa investment? Is it merely about meeting minimum requirements, or are you crafting a meaningful connection to a new country and continent?

As Greece continues to evolve its program in response to market conditions and national priorities, the investors who thrive will be those who view the minimum investment not as a ceiling but as a foundation—a starting point for building genuine value in their new European chapter.

Frequently Asked Questions

Does the €250,000 minimum investment guarantee approval of my Golden Visa application?

Meeting the minimum investment threshold is necessary but not sufficient for Golden Visa approval. Your application must also satisfy other requirements, including clean criminal record verification, valid health insurance, and proper documentation of your investment. Approximately 95% of applicants who meet all criteria and properly document their investments receive approval, but the investment itself doesn’t guarantee acceptance. Working with experienced legal counsel significantly improves your approval odds by ensuring all requirements are properly addressed.

Can I finance part of the minimum investment with a mortgage or loan?

No, the Greek Golden Visa program requires the full minimum investment amount to be made without financing. The entire sum (whether €250,000 for real estate or €400,000 for other options) must come from your own funds and be fully paid at the time of application. This differs from some other European programs that allow partial financing. All transactions must be properly documented through banking channels, and the source of funds will be verified during the application process. This cash requirement ensures genuine foreign direct investment into the Greek economy.

If property values increase, can I sell my investment once it exceeds the minimum threshold?

No, you must maintain your qualifying investment for the full 5-year period regardless of any appreciation in value. Even if your €250,000 property appreciates to €350,000, selling before the 5-year holding period would invalidate your residency permit. However, you can sell and reinvest in another qualifying property without losing your residency status, provided the new investment still meets the minimum threshold. After the 5-year period, you’re free to sell or modify your investment while maintaining your renewable residency permit, as long as you continue to meet the program’s other requirements.

Article reviewed by Charlotte Ellsworth, Commercial Real Estate Developer | Transforming Urban Landscapes, on May 16, 2025