The Greece Investment Residence Permit (GIRP), or Greece Golden Visa, is a residency by investment program launched in 2013 that grants non-EU nationals and their families a 5-year renewable residence permit through a qualifying real estate investment in Greece. The minimum investment is EUR 250,000 for the conversion of commercial properties to residential use or the restoration of listed historical buildings, EUR 400,000 for properties in standard areas, or EUR 800,000 for properties in Attica, Thessaloniki, Mykonos, Santorini, and islands with populations over 3,100. The program includes the spouse, children under 21, and the parents of both the investor and spouse, with no minimum stay requirement and visa-free travel within the Schengen area for 90 days in any 180-day period. After 7 years of lawful residence, holders may apply for Greek citizenship, subject to actual residency and language requirements.
Greece Golden Visa (GIRP)
Greece Golden Visa (GIRP) overview
Greece Golden Visa (GIRP) benefits
- Dependents included: spouse, children under 21, and parents of the investor and spouse
- Member of EU and Schengen area
- Right to reside indefinitely in Greece
- High standard of education and healthcare, with children having access to free education
- Fast processing, typically within 6 to 9 months
- Free travel within the Schengen zone for 90 days out of every 180 days
- No physical residency requirement
- Right to establish a business in Greece
- No language requirement
- Pathway to apply for Greek citizenship after 7 years, subject to meeting actual residency and language requirements
- No wealth tax and low property tax
- No education or management experience required
- The GIRP is valid for 5 years and can be renewed
Greece Golden Visa (GIRP) requirements
- The applicant must be a non-EU citizen
- The applicant must be over 18 years old and in good health
- Must have medical insurance
- Make a qualifying real estate investment which must be held for the entire duration of the residence permit
Greece Golden Visa (GIRP) investment options
- Minimum investment of EUR 800,000 in a property in the entire Administrative Region of Attica (including Piraeus and most of the capital region), the Regional Units of Thessaloniki, Mykonos, Santorini, or islands with a population of over 3,100 inhabitants
- Minimum investment of EUR 400,000 in a property in all other areas of Greece
- The investor must purchase a single property with a minimum area of 120m2. The property cannot be offered for short-term rentals
- A minimum investment of EUR 250,000 applies if the investor converts commercial properties to residential use, or restores listed buildings of historical or cultural significance, regardless of size or location
Greece Golden Visa (GIRP) application process
Process (6 to 9 months)
- Select property in Greece and sign Power of Attorney
- Complete the property purchase
- Book a submission date in Greece for the application
- Lawyer submits application documents and obtains a temporary residence certificate (TRC) for the applicant, valid for 1 year
- The applicant and dependents must visit Greece to submit biometrics within the validation period of the TRC
- Approval of the residence permit is typically granted within 2 months
- The permit may be renewed every 5 years provided the investment is still held
Frequently asked questions
What is the minimum investment amount for the Greece Investment Residence Permit?
The minimum investment is EUR 800,000 for a property in the entire Administrative Region of Attica (including Piraeus and most of the capital region), the Regional Units of Thessaloniki, Mykonos, Santorini, or islands with a population of over 3,100 inhabitants. The minimum investment is EUR 400,000 for properties in all other areas. A reduced minimum of EUR 250,000 applies if the investor converts commercial properties to residential use or restores listed buildings of historical or cultural significance, regardless of size or location. In all cases, the investor must purchase a single property with a minimum area of 120m2.
Does the applicant's family also benefit from the Greece Investment Residence Permit?
Yes. The spouse, children under 21 years old (including adopted children), and the parents of both the investor and the investor's spouse can be included in the application.
What happens when a dependent reaches 21 years old under the Greece Investment Residence Permit?
Dependents do not automatically lose their residence permit when they turn 21. Between the ages of 21 and 24, the dependent must renew their permit annually. If they wish to keep their residence permit after turning 24, they must make their own qualifying investment.
Does the Greece Investment Residence Permit application process include an interview?
No. There is no interview as part of the application process.
With the Greece Investment Residence Permit, which countries can the holder travel to without a visa?
The permit holder can travel within the Schengen area for up to 90 days in any 180-day period.
Can the applicant work in other EU countries automatically under the Greece Investment Residence Permit?
No. The GIRP does not automatically grant the right to work in other EU countries.
Is there an obligation to reside in Greece after receiving the Greece Investment Residence Permit?
No. The applicant does not have to reside in Greece after receiving the permit. However, a visit to Greece is required during the application process to submit biometrics.
The Greece Investment Residence Permit is valid for 5 years. What happens after?
The investor must renew the permit. It can be renewed indefinitely as long as the investor can prove that the qualifying investment has been maintained.
Does the Greece Investment Residence Permit holder receive healthcare and education benefits?
Yes. Greek residents benefit in the same manner as Greek citizens, including social cover, free medical access, and access to the free education system.
Is it possible to obtain Greek citizenship through the Greece Investment Residence Permit?
Yes. Since March 2018, GIRP holders may apply for Greek citizenship after 7 years of lawful residence in Greece, subject to meeting residency and language requirements.
Can the investment be made anywhere in Greece?
Yes. The investment can be made anywhere in Greece. The minimum investment amount will differ depending on the location of the property.
Can the investor live in the property purchased under the Greece Investment Residence Permit?
Yes. The investor fully owns the property and is entitled to live there or rent it out. However, the property cannot be offered for short-term rentals.
Can the applicant make additional investments in Greece after the qualifying investment?
Yes. The investor is completely free to make additional investments or individual acquisitions in Greece after completing the qualifying investment.
How long does the investor need to keep the investment in Greece?
There is no maximum holding period. The residence permit is renewable as long as the conditions are satisfied, including maintaining the qualifying investment.
Greece Golden Visa (GIRP)
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