What is Greece Golden Visa? Complete Guide for Indians
If you are an Indian investor or a family exploring overseas residency options, you may have come across the term what is Greece Golden Visa. This guide explains the Greece Golden Visa program in a simple, structured way so that even a first-time reader can fully understand how it works, what it offers, and what it does not.
What is Greece Golden Visa?
The Greece Golden Visa is a residency-by-investment program introduced by the Greek government in 2013. It allows non-EU citizens, including Indians, to obtain a Greek residence permit by making a qualifying investment in Greece.
This program is governed by the Greek Ministry of Migration & Asylum. It provides legal residency status, not citizenship.
In simple words:
You invest in Greece
You get a residence permit
You and your family can legally stay in Greece and travel in Schengen
Minimum Investment Requirement
Since Law 5100/2024, the minimum real estate investment depends on location and type:
- €800,000 in Attica, the Thessaloniki regional unit, Mykonos, Thira (Santorini) and islands with more than 3,100 residents
- €400,000 in the rest of Greece
- €250,000 only for converting a commercial building to residential use, or restoring a listed building
The property must have at least 120 m² of main spaces (this does not apply to the €250,000 change-of-use route), and the threshold must be reached with a single property: several smaller properties cannot be combined.
Who Can Apply for Greece Golden Visa
Indian citizens are fully eligible to apply for the Greece Golden Visa, provided they meet the programme conditions.
Basic eligibility criteria for Indians
You can apply if you:
- Are a non-EU / non-EEA citizen (Indians qualify)
- Are 18 years or older
- Have a clean criminal record
- Can make a qualifying investment from legal, verifiable sources
- Hold valid health insurance covering Greece
- Can prove the lawful source of funds
Family members who can be included
One of the reasons the Greece Golden Visa for Indians is often discussed is family inclusion.
The main applicant can include:
- Spouse
- Children under 21 (can usually be extended up to age 24 if studying)
- Parents of the main applicant
- Parents of the spouse
All family members receive residence permits with the same validity as the main applicant.
If you qualify for the Greece Golden Visa, check your free eligibility here
Greece Golden Visa Investment Options
Greece offers multiple investment routes under its residency-by-investment framework. These options are defined by Greek law and administered by the Ministry of Migration & Asylum.
1. Real estate investment
This is the most commonly used option by Indian applicants.
Minimum Investment:
€800,000 or €400,000 depending on location; €250,000 only for change-of-use conversions and listed-building restorations
You may qualify by:
- Purchasing a single property that meets the threshold for its location and the 120 m² minimum
- Long-term lease (timeshare) agreements for tourist accommodation, subject to the same location thresholds
- Converting a commercial building to residential use, with the change of use completed before you apply (€250,000)
- Restoring a listed building (€250,000)
Short-term letting of a golden visa property is prohibited, and selling the property while the permit is valid ends the permit.
2. Capital investment routes
Minimum Investment:
Varies by instrument; current thresholds are listed on the Greece capital investment route page
Less commonly used but legally available options include:
- Investment in Greek companies
- Purchase of government bonds
- Investment funds registered in Greece
- Bank deposits under specific frameworks
Most Indian families prefer real estate because it is tangible and easier to understand compared to financial instruments.
Benefits of Greece Golden Visa for Indians
The Greece Golden Visa benefits are practical rather than promotional. Understanding them clearly helps set realistic expectations.
Legal Residency in Greece
You receive a Greek residence permit, allowing you and your family to live in Greece if you choose.
Schengen Travel
Holders can travel visa-free across the Schengen Area for up to 90 days in any 180-day period, providing easy access to multiple European countries.
No Minimum Stay Required
Unlike many residency programs, you do not need to live in Greece. You can maintain your residence permit while staying in India or elsewhere.
Family Inclusion
Your spouse, children, and dependent parents can be included under a single investment, with all family members receiving residence permits.
Renewable Permit
The 5-year residence permit is renewable as long as the qualifying investment is maintained and programme conditions are met.
No Language or Education Requirements
There is no Greek language test and no minimum education or work background required. Residency is based purely on the qualifying investment.
Quick Overview: Greece Golden Visa at a Glance
| Category | Clear Explanation |
|---|---|
| Program Type | Residence by Investment (Not citizenship) |
| Who Can Apply | Non-EU citizens, including Indians |
| Minimum Investment | €800,000 or €400,000 by location; €250,000 only for conversions and listed buildings |
| Processing Time | 50-day statutory standard for the permit decision, once the investment is complete |
| Permit Fee | €2,016 |
| Residence Permit Validity | 5 years, renewable |
| Permit Type | Investor permanent residence permit, renewed every 5 years while the investment is held |
| Physical Stay Requirement | None is required to maintain the permit |
| Family Inclusion | Spouse, children, parents |
| Citizenship Eligibility | After 7 years of legal residence with actual stay; for Indian citizens, naturalising ends Indian citizenship under Section 9(1) of the Citizenship Act 1955 |
| Travel | Schengen Area, up to 90 days in any 180-day period |
Application Process
Choose an Investment
Select a qualifying real estate or capital investment in Greece.
Complete Basic Formalities
Finish KYC checks and obtain a Greek tax number (AFM).
Make the Investment
Sign the required agreements and pay the full purchase price; since 1 September 2024 the full amount must be paid before the application is filed.
Apply for the Golden Visa
Submit all required documents to the Greek authorities.
Give Biometrics & Get Residency
Provide fingerprints and photos.
Once approved, receive a 5-year renewable Greek residence permit.
If you are considering applying for the Greece Golden Visa, you can book a consultation to understand the complete application process and ensure your investment and documentation meet current requirements. If you are still wondering what is Greece Golden Visa and whether it suits your goals, you can also check your eligibility for free to see if your profile qualifies for the program before taking any steps.
FAQ
1. What is the Greece Golden Visa?
It is a residency-by-investment program allowing Indians to get a Greek residence permit through qualifying investments. It provides residency and Schengen travel but not citizenship automatically.
2. Who can apply from India?
Indians 18+ with a clean record and legal funds for investment can apply. Family members (spouse, children, parents) can also be included.
3. What are the investment options and minimum amounts?
Real Estate: €800,000 in Attica, Thessaloniki, Mykonos, Thira and larger islands; €400,000 elsewhere; €250,000 only for conversions and listed buildings
Capital Investments: thresholds vary by instrument (funds, bonds, deposits or company investments)
4. How long does it take, and how long is it valid?
Processing: 50-day statutory standard for the permit decision; allow extra time for the property purchase
Permit validity: 5 years, renewable
Stay requirement: None
5. Can my family travel with me?
Yes. The family gets residence permits. Holders can travel visa-free in the Schengen Area for up to 90 days in any 180-day period.
