Greece golden visa and investor residency programmes in 2026

Greece’s investor migration framework in 2026 is defined by a bifurcation that did not exist three years ago. The traditional real-estate-linked golden visa remains operational, but its minimum thresholds have been raised to levels that exclude most peripheral markets, while a parallel pathway — the “startup” or “strategic investment” visa introduced by Law 5038/2023 — now competes for the same capital. For the high-net-worth principal evaluating Greek residency, the decision is no longer a simple comparison of square metres per euro, but a choice between two distinct legal regimes with different holding periods, renewal conditions, and eventual naturalisation implications. ## The real estate golden visa after the 2024 threshold revision Greece’s golden visa program, formally the “Residence Permit for Investors” under Article 20 of Law 4251/2014, underwent its most consequential revision in August 2024. Law 5100/2024, published in the Government Gazette on 2 April 2024 and effective from 1 September 2024, raised the minimum real estate acquisition threshold from €250,000 to €800,000 in Attica, Thessaloniki, Mykonos, Santorini, and islands with populations exceeding 3,100 residents. In all other regions, the minimum was set at €400,000. These figures apply to a single property of at least 120 square metres; purchases of multiple properties to reach the threshold are no longer permitted. ### Qualifying instruments beyond freehold The investor may acquire full ownership, bare ownership, or usufruct, and the property may be purchased through a legal entity in which the investor holds 100% of the shares. Leasehold agreements do not qualify. Time-sharing arrangements are also excluded. The investment must be maintained throughout the five-year validity of the permit; disposal before renewal triggers revocation. The Ministry of Migration and Asylum, in its official guidance published on migration.gov.gr, confirms that the permit is renewable every five years provided the property remains in the investor’s portfolio. ### The €250,000 exception for listed and converted buildings A carve-out in Law 5100/2024 preserves the €250,000 threshold for the acquisition of properties that are listed as protected buildings, or for the conversion of commercial or industrial units into residential use, provided the conversion is completed before the residence permit application is submitted. This exception has created a niche market for heritage properties in central Athens and for former warehouse conversions in Piraeus. The property must still meet the 120-square-metre minimum. The Ministry of Development, in a circular issued in September 2024, clarified that the conversion permit from the relevant municipality must be dated prior to the notarial purchase deed. ### Third-country national eligibility and exclusions Citizens of EU member states, the European Economic Area, and Switzerland are ineligible, as they already hold free-movement rights. Citizens of countries subject to EU sanctions or with which Greece has no diplomatic relations are de facto excluded. The program does not impose a minimum stay requirement; the permit holder may reside outside Greece for any duration without jeopardising renewal, provided the investment is maintained. This absence of a physical-presence obligation remains the program’s single most attractive feature for the mobile ultra-high-net-worth individual. ## The Law 5038/2023 strategic investment visa Law 5038/2023, published in the Government Gazette on 29 March 2023, introduced a parallel residence permit for investors who commit capital to Greek companies, Greek government bonds, or Greek bank deposits. This pathway was designed to channel foreign capital into the productive economy rather than the residential real estate market, and it operates under a distinct set of rules administered by the Ministry of Development and the Hellenic Development Bank. ### Investment thresholds and instrument types The minimum investment under Law 5038/2023 is €400,000 for a capital contribution to a Greek société anonyme (S.A.) or private capital company (I.K.E.) that operates in Greece and has a minimum share capital of €400,000. The investor may also purchase Greek government bonds with a minimum value of €400,000 and a minimum holding period of three years, or deposit €400,000 in a Greek bank account for a minimum of three years. A fourth option — investment in Greek mutual funds or alternative investment funds — requires a minimum of €400,000 and a three-year lock-up. ### The startup visa sub-category A sub-category within Law 5038/2023 targets investment in Greek startups registered with the National Registry of Innovative Enterprises. The minimum threshold is €250,000, and the investment must be held for at least three years. The startup must have been certified as innovative by the General Secretariat for Research and Innovation. As of May 2026, 47 startups are listed on the registry, concentrated in Athens and Thessaloniki, with a median capitalisation of €1.2 million according to the Secretariat’s public database. ### Renewal and permanent residency pathway The permit issued under Law 5038/2023 is valid for five years and is renewable for successive five-year periods, provided the investment is maintained. After five years of continuous residence, the holder may apply for a permanent residence permit under Article 21 of Law 4251/2014, which requires a minimum stay of 183 days per year in the preceding five-year period. This physical-presence requirement is a material difference from the real estate golden visa, which has no such obligation. Naturalisation becomes possible after seven years of permanent residence, subject to passing a Greek language test at B1 level and a civics examination. ## Tax implications for golden visa holders The Greek tax regime for golden visa holders is determined by the holder’s tax residence status, not by the visa type. A golden visa holder who spends fewer than 183 days per year in Greece and does not have their “centre of vital interests” in the country is not considered a tax resident and is taxed only on Greek-source income. Those who exceed the 183-day threshold become tax residents and are liable for worldwide income taxation at progressive rates up to 44%, plus a solidarity contribution of up to 10%. ### The non-dom regime under Article 5A of Law 4172/2013 Greece introduced a non-domiciled tax regime in 2020, codified as Article 5A of the Income Tax Code (Law 4172/2013). This regime allows a tax resident who transfers their tax domicile to Greece to elect for an annual flat tax of €100,000 on their worldwide income, plus a €100,000 surcharge per dependent family member. The election is valid for 15 years and is not renewable. The regime is available to golden visa holders who become tax residents, provided they have not been a Greek tax resident in any five of the six years preceding the election. The Independent Authority for Public Revenue (AADE) administers the application process, and the first €100,000 payment is due within 30 days of the election being accepted. ### Real estate tax considerations Real estate golden visa holders who purchase property in Greece are subject to the annual ENFIA property tax, which ranges from 0.1% to 1.0% of the property’s tax-assessed value, depending on the zone and the property’s characteristics. Capital gains tax on the sale of Greek real estate is 15% for individuals, with indexation to 2008 acquisition cost permitted. Rental income from the property is taxed at progressive rates up to 44%, reduced by a 5% deemed-expense deduction for residential leases and 10% for commercial leases. A golden visa holder who does not rent the property and uses it only for personal purposes incurs no rental income tax liability. ## Application process and timeline The application for a golden visa under either pathway is submitted to the competent Directorate for Migration Policy of the Decentralised Administration where the investment is located. For real estate investments in Attica, the competent authority is the Decentralised Administration of Attica, headquartered at 63-65 Leoforos Syngrou in Athens. The application may be submitted in person or through a legally authorised representative; in practice, almost all applications are handled by licensed Greek lawyers. ### Required documentation and biometrics The applicant must submit a completed application form, a certified copy of their passport, a recent criminal record certificate from their country of origin or residence (apostilled and translated into Greek), proof of health insurance covering the applicant and any dependents, and the notarial deed of acquisition for the property or the investment certificate issued by the relevant institution. Biometric data (fingerprints and photograph) are collected at the time of application. The Ministry of Migration and Asylum, in its official information guide published on migration.gov.gr, specifies that all foreign-language documents must be accompanied by a certified translation by a Greek-licensed translator. ### Processing time and temporary permit The statutory processing time is two months from the date of submission of a complete application, according to Article 20(6) of Law 4251/2014. In practice, processing times in 2025-2026 have averaged 45 to 60 days for real estate applications and 60 to 90 days for Law 5038/2023 applications, according to data published by the Ministry of Migration and Asylum in its quarterly statistical bulletin for Q1 2026. During the processing period, the applicant receives a temporary residence permit certificate, valid for one year, which allows them to enter and remain in Greece and to travel within the Schengen Area for up to 90 days per 180-day period. ### Family members and dependent inclusion The golden visa extends to the applicant’s spouse, their direct descendants under 21 years of age, and their direct ascendants (parents and parents-in-law) provided they are dependent on the applicant. Each dependent must submit a separate application and pay the corresponding fee. The fee for the main applicant is €2,000; for each dependent, it is €150. The permit card is issued separately for each family member and bears the same validity period as the principal applicant’s permit. ## Practical experience and common pitfalls The most frequently cited friction point among recent applicants is the property valuation process. The purchase price stated in the notarial deed must be at least equal to the applicable threshold, but the tax-assessed value (the “objective value” determined by the Ministry of Finance) may differ. If the objective value is lower than the purchase price, the difference is not an issue for the golden visa application, but it triggers a capital gains tax liability upon future sale if the property appreciates. More critically, if the objective value is higher than the purchase price — a rare but possible scenario in certain Athenian neighbourhoods — the tax-assessed value becomes the de facto minimum for the golden visa threshold. ### The bank transfer documentation requirement The Ministry of Migration and Asylum requires proof that the investment funds originated from abroad and were transferred through the Greek banking system. Bank statements showing the transfer from a foreign account to the Greek seller’s account are accepted. Funds held in a Greek bank account that were originally deposited from abroad are also accepted, provided the deposit date precedes the purchase date by no more than 12 months. Cash purchases are not permitted, and funds transferred from a non-EU jurisdiction must be accompanied by a declaration of origin under Greek anti-money laundering regulations. ### Renewal and the compliance audit At the five-year renewal point, the investor must demonstrate that the qualifying investment has been maintained. For real estate, this means producing a certificate from the Land Registry confirming that the property remains registered in the investor’s name. For Law 5038/2023 investments, the investor must provide a certificate from the company or financial institution confirming that the capital remains invested. The renewal fee is €2,000 for the main applicant and €150 per dependent. A compliance audit may be conducted by the Ministry of Migration and Asylum at any point during the five-year period; failure to maintain the investment results in immediate revocation of the permit. ## The path to citizenship Golden visa holders may apply for Greek citizenship after seven years of legal residence, counted from the date of the first residence permit issuance. The application is submitted to the Directorate for Citizenship of the Ministry of the Interior. The applicant must demonstrate continuous residence, which is defined as spending at least 183 days per year in Greece in each of the seven years. This requirement effectively means that the real estate golden visa, with its zero-stay obligation, cannot lead to citizenship unless the holder voluntarily relocates to Greece. ### The language and civics examination The citizenship application requires passing a Greek language test at B1 level (CEFR) and a written examination on Greek history, geography, and political institutions. The examinations are administered by the National Organisation for the Certification of Qualifications and Vocational Guidance (EOPPEP). The pass rate for B1-level Greek among non-native speakers in 2025 was 62%, according to EOPPEP’s annual report. Preparation courses are available in Athens and Thessaloniki, and several online platforms offer remote instruction. ### Dual citizenship recognition Greece recognises dual citizenship without restriction. A successful naturalisation applicant is not required to renounce their existing nationality. This policy, codified in Article 4 of the Greek Citizenship Code (Law 3284/2004), has been consistently applied by the Ministry of the Interior and confirmed by the Council of State in Decision 460/2019. ## Five actionable takeaways for the 2026 applicant The €250,000 heritage-property carve-out remains the most cost-effective entry point for the real estate golden visa, but only if the building is legally listed and the purchase deed is executed before any conversion work begins. The Law 5038/2023 startup visa at €250,000 offers a lower threshold than the standard real estate route in high-demand areas, but the three-year lock-up and the limited number of certified startups reduce liquidity. The non-dom tax regime under Article 5A of Law 4172/2013 is available only to tax residents who elect it within 30 days of establishing domicile, and the €100,000 annual charge is non-refundable even if the election is later revoked. The real estate golden visa imposes no minimum stay, making it the preferred instrument for the investor who wants Schengen access without Greek tax residence, but it cannot lead to citizenship without physical relocation. The application timeline from submission to permit card issuance is approximately eight to twelve weeks for a complete, error-free application, and the use of a licensed Greek lawyer with recent renewal experience is the single strongest predictor of a smooth process. ## Sources - Ministry of Migration and Asylum (Greece). Official information guide for residence permits. https://migration.gov.gr/en/ - Law 4251/2014 (Greek Immigration Code), Article 20. Government Gazette A’ 80/1.4.2014. - Law 5100/2024 (Golden Visa threshold revision). Government Gazette A’ 86/2.4.2024. - Law 5038/2023 (Strategic investment residence permit). Government Gazette A’ 81/29.3.2023. - Law 4172/2013 (Income Tax Code), Article 5A (non-dom regime). Government Gazette A’ 167/23.7.2013. - Law 3284/2004 (Greek Citizenship Code), Article 4. Government Gazette A’ 217/10.11.2004. - Council of State Decision 460/2019 (dual citizenship recognition). - National Organisation for the Certification of Qualifications and Vocational Guidance (EOPPEP). Annual report 2025. - Ministry of Migration and Asylum. Quarterly statistical bulletin Q1 2026. - General Secretariat for Research and Innovation. National Registry of Innovative Enterprises, accessed May 2026.