Approved Investment Routes
Greece’s Golden Visa program offers several pathways for obtaining a renewable five-year residence permit. The routes are governed under Law 4251/2014 (as amended) and managed by the Ministry of Migration and Asylum.
Real Estate Acquisition (€250,000 or €500,000)
This remains the most popular route. The property must:
- Be a freehold acquisition (no timeshare or leasehold models)
- Be used for residential or commercial purposes
- Remain in the investor’s possession for the duration of the permit
The €500,000 threshold applies to selected high-demand zones, while €250,000 is valid in other municipalities. Investors may pool multiple properties to reach the threshold, but only if within the same regional unit.
Notably, short-term rentals (Airbnb-style) are now restricted in certain zones. Some municipalities require proof that the property will not be used for tourist leasing, adding a layer of legal and regulatory complexity for ROI-focused investors.
Real Estate Leasing or Timeshare Contracts
Investors may also obtain residency by signing a 10-year lease agreement for hotel accommodation or fully furnished tourist residences through licensed operators. While this option avoids ownership formalities, it offers no equity or resale potential.
Capital Contributions to Greek Entities
Another qualifying route includes a minimum €400,000 investment in:
- Greek government bonds
- Shares or bonds of Greek real estate investment companies (REICs)
- Term deposits in domestic Greek banks
The capital must remain in place for at least two years. However, this route is less commonly used due to low yield and stricter banking controls.
Strategic Evaluation of Options
From a legal and strategic standpoint, real estate remains the most efficient path for capital preservation, lifestyle alignment, and passive income potential. However, REIC contributions or bond investments may be preferable for applicants seeking reduced administrative overhead and no asset management burden.
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