The Greek Law 5100/2024 offers permanent residency permits to non-EU citizens and their family members, who invest in Greek property valued between €250,000 and €800,000.
The new law, effective from September 1, 2024, outlines three investment tiers for granting residency permits to investors in Greece:
- Zone 1: Minimum investment of €800,000 with a required minimum internal area of 120 square meters. This applies to the Region of Attica, Thessaloniki, Mykonos, Santorini, and islands with populations over 3,100.
- Zone 2: Minimum investment of €400,000 with the same internal space requirement, covering all other regions of Greece.
- Zone 3: Minimum investment of €250,000 without geographic restrictions or a minimum size requirement. This applies to properties being converted from commercial to residential use.
* Investors can only invest in a single property.
** Properties purchased under these rules can be rented for long-term leases but not for short-term rentals through platforms like Airbnb, booking, VRBO, Plum guide etc.
- The Golden Visa residency permit can be renewed indefinitely every five years, provided that the property remains fully owned by the primary investor. There are no residency requirements, meaning extended absences from Greece do not affect the permit’s validity.
- The investor’s family can also be included under this permit, with each member receiving a renewable residence permit that expires simultaneously with the main investor’s permit. Eligible family members include the spouse, children up to 21 years old, and both the applicant’s and spouse’s parents.
- After seven years of continuous residency, investors and their family members may apply for Greek citizenship, provided they have lived in Greece for at least five years and have learned the Greek language.
Key points of Law 5100/2024:
- Investment amounts range from €250,000 to €800,000, based on the type and location of the property.
- Investors can apply for both permanent residence and citizenship.
- Residency can be extended to family members: spouse, children (up to 21), parents, and in-laws.
- Investors can establish a business in Greece.
- Residency does not require physical presence in Greece.
- Permit holders have unrestricted travel within Schengen countries and can travel directly from their home country.
- They can also live permanently in Greece, with access to the national healthcare and educational systems.
Additional advantages of residency through investment in Greece:
- You pay taxes in Greece only on your income earned within the country.
- There is no capital duty or net wealth tax.
- You can register an unlimited number of assets without restrictions.
- You can open an unlimited number of bank accounts.
- Greece offers one of the lowest property taxes in Europe (e.g., a two-bedroom apartment incurs an annual tax of approximately €250).