Greek Residency by Property Investment: Secure Permanent Residency in Europe!
Obtaining Greek residency through property investment is one of the most attractive ways to gain the right to live permanently in the heart of Europe. By investing in Greece’s real estate sector, not only can you benefit from the advantages of living in the country, but you also gain visa-free access to other Schengen countries. Interestingly, this program has been popular among foreign investors—especially Iranians—for years. By 2023, over 31,000 Golden Visas had been issued through this route.
To qualify, you simply need to be over 18 years old and have at least €250,000 (or €500,000 in certain areas) available to invest in real estate. Iranians have submitted around 194 official applications, playing a significant role in this program and helping attract billions of euros in investment from around the world to Greece.
Stay with Negin Group as we guide you through the full details, benefits, and steps for obtaining this type of residency.
Considering Turkey Instead?
If you’re not planning to work in Turkey but have the ability to invest in its property market, you can apply for Turkish citizenship immediately by purchasing real estate worth at least $200,000. Negin Group, with its experienced team of professional consultants, will handle the entire process of obtaining your Turkish residency and citizenship. Our advisors will assess your situation and recommend the best option for acquiring residency in Turkey.
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Changes to Greece’s Golden Visa Regulations
The rules for obtaining a Golden Visa in Greece—especially through real estate investment—have undergone several changes. These updates mainly affect the minimum investment amount depending on the location, so applicants must carefully review the criteria for their chosen area.
Updated Real Estate Investment Requirements:
Minimum €250,000: This applies to the purchase of one or multiple residential or commercial properties in most parts of Greece, excluding four specific regions.
Minimum €500,000: As of July 31, 2023, this amount is required in the municipalities of Athens, Thessaloniki, Mykonos, and Santorini, and only for the purchase of a single residential or commercial property.
Long-Term Lease Option:
According to the new regulations, signing a 10-year lease agreement can also qualify for the Golden Visa, provided the contract’s value is at least €250,000. This lease may be for a hotel stay or a fully furnished tourist residence.
In summary, Greek residency through property investment remains one of the most popular ways to obtain a European Golden Visa. However, with the recent legal changes, paying close attention to the updated rules is essential for making smarter investment decisions.
Steps to Obtain Greek Residency Through Property Investment
If you’re looking for a fast and reliable way to obtain European residency, acquiring Greek residency through property investment is one of the best options. This process involves several clear steps, which are fully explained below:
1. Hiring a Legal Attorney and Conducting Due Diligence
The first and most crucial step is to work with an experienced legal attorney in Greece. Since property, immigration, and tax laws in Greece can be quite complex, having a professional lawyer by your side can greatly simplify the entire process of purchasing property and securing residency.
2. Selecting a Property in Greece
With guidance from trusted real estate experts, choose the property that suits your needs. At this stage, your lawyer must thoroughly check and verify the property’s legal status, including ownership and title history.
3. Obtaining a Tax Identification Number (AFM)
To conduct any financial transaction in Greece, including real estate purchases, you need a Greek Tax Identification Number (AFM). This number can be obtained from the local tax office or handled by your lawyer on your behalf.
4. Opening a Bank Account in Greece
To transfer funds and pay related costs, opening a bank account in Greece is essential.
5. Signing the Purchase Agreement
Initially, a preliminary agreement is signed between the buyer and the seller. Once all legal requirements are met, the final purchase contract is signed under the supervision of your lawyer.
6. Transferring Funds and Paying Fees
The agreed-upon amount is transferred to the seller’s account, and all applicable taxes and legal fees are paid.
7. Registering the Property with the Greek Land Registry
Once the full payment has been made, the property will be officially registered in your name at the Greek Land Registry Office.
8. Applying for the Greek Golden Visa
After completing all the required documentation, you can submit your application for the Greek Golden Visa through the Greek Embassy or Consulate.
9. Receiving the Residency Permit
Once your application and documents are approved, the Golden Visa will be issued for you and your family members. The initial residency permit is valid for 5 years and can be renewed.
By completing these steps, obtaining Greek residency through property investment becomes not only feasible but also a well-structured and predictable process. Many people seeking European residency compare this route to other options—such as buying property in Turkey—but ultimately choose Greece due to the advantages of the Golden Visa program. Working with a professional team like Negin Group’s legal consultants can make this journey much easier and more secure.
Benefits of Buying Property in Greece
Purchasing property in Greece not only provides a pathway to residency but also offers a range of additional benefits:
Low or even zero property taxes in certain cases
Affordable cost of living
5-year permanent residency with the possibility of renewal
No requirement to live in Greece for residency renewal
Eligibility for Greek citizenship after 7 years of permanent residency
No need to prove bank account balances or financial means
Residency permits for family members, including spouse, children under 21, and both sets of parents
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Requirements for Obtaining a Golden Visa by Purchasing Property in Greece
The most important requirement for obtaining residency in Greece through real estate investment is a minimum investment of €250,000 in one or more residential or commercial properties.
The property must be registered in the applicant’s name and must remain under their ownership for the duration of the residency permit and any renewals. If the property is purchased through a legal entity, the applicant must own 100% of the company’s shares.
In addition to property purchases, it is also possible to obtain the Golden Visa through a 10-year lease agreement, provided that the total lease amount is at least €250,000 and is paid in full upfront.
Note: The Golden Visa is renewable every five years, as long as the investment criteria are still met. Obtaining Greek residency through property investment is a clear and legal pathway for individuals seeking long-term presence in Europe.
Exclusive Opportunity with Negin Group for Investors with Limited Funds
If you currently do not have sufficient capital, Negin Group offers a unique opportunity: you can pre-purchase a property in Turkey and obtain residency in that country. This approach allows you to start the residency process with an initial investment and benefit from the advantages of living in Turkey.
Obtaining a Greek Passport through Property Investment
To apply for Greek citizenship and obtain a Greek passport after securing residency via property purchase, you must:
Purchase one or more properties worth at least €250,000
Apply for the Golden Visa
After 7 years of maintaining permanent residency and paying taxes regularly, and residing in Greece for at least 183 days per year, you become eligible to apply for Greek citizenship and a passport.
With a Greek passport, you and your family can live and work freely throughout the European Union.
Required Documents for Greek Residency through Property Purchase
To apply for a Golden Visa and residency in Greece, the following documents are necessary:
Valid copies of all passport pages
Several passport-sized photos as per Greek Embassy requirements
Completed visa application forms
Valid health insurance certificate
Medical certificates
Police clearance certificate (No criminal record)
Official property valuation report
Legally notarized purchase agreement
Proof of payment for the property
Property registration documents from the Greek Land Registry
Bank account documents from a Greek bank
Documents proving financial resources such as payslips or tax returns
Still Deciding? Consider Alanya, Turkey as Well
If you’re still comparing your options for property investment, you might want to explore property purchase in Alanya, Turkey. Turkey also offers relatively simple residency pathways through real estate investment. However, Greece, being a member of the European Union, provides broader and more strategic advantages for those seeking EU access and long-term investment security.
Best Cities to Live in Greece by Purchasing Property
If you’re planning to obtain residency in a European country by purchasing real estate, Greece is an excellent choice. Below are some of the best cities in Greece to live in by buying property:
Buying Property in Athens
Athens, the historical and cultural capital of Greece, is a top choice for real estate investment. With iconic landmarks like the Acropolis, numerous museums, ancient theaters, and an advanced public transportation system, the city is a popular destination for property buyers. From modern apartments in the city center to luxurious villas in green suburbs, Athens offers a wide range of options. Purchasing property here provides an opportunity to experience life in the heart of European civilization.
Buying Property in Thessaloniki
Thessaloniki, Greece’s second-largest city, stands out with its prestigious universities, vibrant nightlife, and affordable real estate prices. The city’s diverse range of properties and convenient access to urban amenities make it one of the most attractive destinations for acquiring residency in Greece through property investment.
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Buying Property in Mykonos
Mykonos is a popular tourist island among international travelers. Its luxury villas, sea views, and stunning beaches make this island a paradise for real estate investors. By purchasing property in Mykonos, you can benefit from the tourism industry while also securing a path for yourself and your family to obtain Greek residency through property investment.
Buying Property in Santorini
Santorini, with its white houses, breathtaking sea views, and unforgettable sunsets, is one of Greece’s most unique destinations. This island is ideal for buying luxury villas or smaller apartments for living or investment purposes. The presence of international tourists and high demand for short-term rentals offers a special advantage to property owners in this area.
Finally, to ensure a confident and smooth investment and residency process in Greece, it is recommended that besides gathering documents and choosing the right property, you carefully follow other steps such as legal and banking procedures. If you have no experience in international immigration and investment, even basic steps like opening a bank account in Turkey or Greece can be much easier with the help of professional consultants.
Property Prices in Greece
The table below shows the average price range per square meter (in euros) for property in some of the best cities in Greece:
| City | Average Price per sqm (EUR) |
|---|---|
| Athens | 1,300 – 2,300 |
| Thessaloniki | 1,300 |
| Mykonos | 4,500 – 6,450 |
| Santorini | 3,200 – 4,900 |
Buying Property in Greece: A Reliable Investment
Obtaining residency in Greece through property purchase is one of the easiest and most secure ways to migrate to the Schengen area. By investing at least 250,000 euros in Greek real estate, you can receive the country’s Golden Visa — a visa that grants a 5-year residency, renewable indefinitely without the need to reside permanently in Greece.
Residency through property investment in Greece is not only a way to obtain permanent residency and eventually Greek citizenship, but it also provides an excellent opportunity for free travel across European countries. Cities like Athens, Thessaloniki, Mykonos, and Santorini, with their active real estate markets, natural beauty, amenities, and high tourism, are ideal choices for buying property.
Compared to other countries, Greece still offers more competitive prices. If you are interested in comparison, you may also consider investment options in Turkey; however, the benefits of Schengen access and European citizenship make Greece an attractive choice for Iranian investors.
Summary
Obtaining residency in Greece through property purchase is an excellent opportunity for those seeking an easy and legal way to migrate to Europe. With a minimum investment of 250,000 euros in the Greek real estate market, you can receive a Golden Visa that grants a 5-year residence permit with the possibility of renewal. This residency allows free travel within the Schengen Area without the requirement of continuous presence in Greece, and after 7 years, you become eligible to apply for Greek citizenship and passport.
Various cities in Greece, such as Athens, Thessaloniki, Mykonos, and Santorini, offer a wide range of property options at different price points, allowing you to choose according to your budget and investment goals.
Additionally, using the services of professional legal consultants, such as the Negin Group team, makes the process of buying property and obtaining Greek residency much simpler and more secure. Ultimately, this path can be your gateway to the European market and a higher quality of life.
For property purchases in Alanya and Turkey, you can benefit from the advice and services of the professional Negin Group team. Our team is available 24/7 to provide you with free consultation. For more information and to start your consultation, visit https://alanyahome.co/ or call +90 553 861 2234.