Greece Golden Visa: how Iranian investors can obtain a residence permit and how much it costs

What is Greek Golden Visa

The Greece Golden Visa is a residence by investment program launched in July 2014 under Law 4251/2014. It was created to attract foreign investment and support the country’s economy.

Iranian citizens are eligible for the Greece Golden Visa. Applications undergo Enhanced Due Diligence, EDD, with fully documented lawful funds and a clean payment chain via non-sanctioned banks/escrow. A national visa D and timely biometrics are typically required.

A residence permit is issued in about four months. For Iranian applicants, processing often takes longer due to EDD.The initial residency card is valid for five years. It allows visa-free travel in the Schengen Area and access to Greek banks, healthcare, and education.

The Greece Golden Visa has grown more popular in recent years. In 2021, there were 1,993 applications. By 2024, the number rose to 9,407. This growth is due to affordable investment options, flexible rules, and strong global interest.

In the first four months of 2025, investors submitted 3,506 applications. If this pace continues, Greece may receive over 10,000 applications by the end of the year.

11 benefits of Greek Golden Visa

For Iranian investors, the core advantages — no minimum stay requirements, Schengen mobility, and clear investment routes — make it a strong, family-friendly Plan B in the EU.

1. A path to residency

Investors don’t need to pass exams on Greek language or culture. They are not required to live in the country after getting a residence card. The application can include a spouse, children up to 20 years old, and parents.

2. A safe haven

The residence permit allows investors to stay in Greece with no time limits. They can enter even if the borders are closed to foreigners.

3. Visa‑free travel

The residence card replaces a Schengen visa. Investors can stay in the Schengen Area for up to 90 days in any 180‑day period.

4. Inclusion of extended family

The visa can cover not only the main applicant but also dependent adult children and parents. This provides broader family security and access to Greek residency benefits.

5. Opportunity to invest in real estate

One option is to buy residential or commercial property worth at least €250,000. This is half the amount required in Andorra, where the minimum is €600,000. Portugal and Hungary have removed the real estate option altogether.

Greek real estate is a liquid asset. After five years, investors may get permanent residency and sell the property. If prices rise, they may profit from the sale.

Properties can also be rented out with up to 5% annual income. 

6. Flexible investment options

Investors may qualify not only by buying property but also through business investments, capital contributions, or government bonds. This flexibility helps match the investment to personal financial goals.

7. No minimum stay requirement

Golden Visa holders don’t have to live in Greece or spend any set number of days there to keep their residency. This suits those who want residency without relocating.

8. Tax optimisation

Investors can become Greek tax residents and pay a fixed €100,000 tax on global income. The usual rate can reach 45%.

One becomes a tax resident by spending at least 183 days a year in Greece.

9. Access to banking, healthcare, and education

Golden Visa holders can open accounts in Greek banks in euros, dollars, and other currencies. They are entitled to free care in public hospitals and can enrol their children in local schools and universities.

For Iranian nationals Greek banks apply EDD and may require stronger documentation and links to Greece.

10. High approval rate and fast processing

Greece’s Golden Visa program is known for its quick and transparent process. It has a high approval rate compared to other European programs, making it a reliable choice.

11. A pathway to permanent residence or citizenship

Permanent residency is available after 5 years if the investor hasn’t left Greece for more than 6 consecutive months or 10 months total.

Citizenship is possible after 7 years of living in Greece. The applicant must show integration and pass a written exam on Greek language, culture, history, geography, and government.

Greece Golden Visa requirements

To obtain a Greece Golden Visa, investors choose one of the following options:

1. €250,000 — real estate purchase.
2. €350,000 — units in a mutual fund focused on Greek assets.
3. €350,000 — units in an Alternative Investment Fund investing in Greece.
4. €500,000 — fixed‑term deposit in a Greek bank.
5. €500,000 — investment in a Greek company.
6. €500,000 — shares in a Greek real estate company.
7. €500,000 — shares in a business holdings capital company.
8. €500,000 — Greek government bonds.
9. €800,000 — listed corporate or government bonds.

A residence permit by investment is granted to foreign nationals over 18 years old who have a legal source of income, medical insurance, and no criminal record.

The application may include a spouse and unmarried children up to and including 20 years old who are financially dependent on the investor. It can also cover the investor’s or spouse’s parents if they are financially dependent on the investor.

Property types qualifying for Greece Golden Visa

The Greek government allows foreign nationals to buy and sell land plots, residential and commercial properties, and rent them out. 

Types of property eligible for Greece Golden Visa. Investors usually buy apartments, penthouses, villas, and cottages. Land plots are purchased less often.

Property ownership restriction. Investors can buy only one property.

There are 3 real estate investment options:

• €800,000 for ready‑to‑move‑in properties in high‑demand areas like central Athens, Thessaloniki, Mykonos, or Santorini;
• €400,000 for ready properties in less densely populated regions;
• €250,000 for properties in any location that need full renovation or conversion from non‑residential use.

Only long‑term rentals are allowed. They offer annual returns of 3–5%, making them a steady source of passive income.

Greece is one of the rare countries where investing in real estate can lead to obtaining a residence permit, making it an attractive option for those looking for both EU residency and property ownership. 

Greece is one of the few countries where real estate investment can lead to a residence permit. Investors gain both EU residency and property ownership.

Property prices in Greece vary greatly by region: for example, a three‑bedroom apartment in the suburbs of Athens can be purchased for €200,000, while a similar property in the city centre or an upscale district may cost €2,000,000.

Example of property in Greece for personal use or rental income

Documents required for Greece Golden Visa

The document collection process usually runs in parallel with the property purchase. Investors may contact a law firm that assists with obtaining a residence permit in Greece, such as Passportivity.

Pasportivity’s lawyers help prepare the documents, translate them, certify copies, and obtain an apostille if needed.

The documents are submitted to the Greek migration service. The main package includes:

• copies of the passports of the investor and family members;
• marriage and birth certificates, if the family members are also applying for a Golden Visa;
• purchase agreement for the property;
• certificate of ownership of the property in Greece;
• medical insurance;
• photographs of each applicant, size 3.5 × 4.5 cm;
• notarised power of attorney in the name of a Greek lawyer.

Names and dates must match exactly across all documents; discrepancies require sworn affidavits or registry extracts.

Iran-specific compliance addendum, EDD/KYC

Because Iranian files undergo enhanced due diligence, plan to add:

• proof of lawful source of funds;
• source of wealth narrative: concise timeline of career/business income supporting the investment amount;
• bank statements usually 6—12 months from non-sanctioned banks showing accumulation and transfer of funds;
• clean payment chain evidence: escrow agreement, payment instructions, and SWIFT confirmations from origin to beneficiary;
• sanctions screening declarations and PEP/adverse-media questionnaires where requested.

Once the document package is ready, lawyers fill in the government forms and submit the residency application. They also help pay the required fees and charges.

Other ways to obtain a residence permit in Greece

In addition to the Golden Visa, foreign nationals can obtain residency in Greece on six other grounds ^[306] Source: Greek residence permit categories for foreigners, Ministry of Migration and Asylum . In each case, applicants must collect the required documents and submit them to the Greek migration service.

The main difference between the Greece Golden Visa and other types of residence permits is the requirement to live in the country for at least 183 days a year.

Residency through family reunification

If a foreign national already holds a Greek residence permit, they may apply for reunification with their spouse and children. They must provide marriage and birth certificates or other proof of family ties.

The residence card is valid for 1 year and can be renewed. Children born in Greece to foreign nationals receive a 5‑year residence permit.

Residency for employment

Issued to foreign nationals whose employer obtains a work permit from the municipal administration. The employment contract must be for at least 1 year. The residence card is valid for 1 year and can be renewed.

Highly qualified specialists can apply for EU Blue Card. They must prove their qualifications with a diploma or at least 5 years of work experience. This type of permit is subject to regional quotas.

Residency for study at local universities

Applicants must show proof of sufficient funds for living, at least €400 per month, and for tuition. Students may work part‑time in Greece.

The residence card is valid for 1 year and renewed annually until the end of the course. Family members are not eligible for reunification under this permit.

Residency for financially independent individuals

Available to foreign nationals with a passive income of at least €2,000 per month or savings of at least €24,000 in a bank account. Pensioners whose pensions meet the minimum income can also apply.

The application fee is €1,000, or €150 for pensioners. The permit is granted for 1 year and can be renewed. Holders of this permit cannot work or conduct business in Greece.

Digital Nomad Visa

Granted to remote workers with a monthly income of at least €3,500. It allows the holder to apply for a 1‑year residence permit, which can be extended twice for 2 years each.

Applicants must provide an employment contract with one or more companies based outside Greece. A spouse or registered partner and children under 18 can be included in the application, but they cannot work or run a business in Greece.

Residency for victims of human trafficking and refugees

This status is granted to those who apply for asylum in Greece. The application may include up to 8 family members.

Comparative table of residence permits in Greece

Type of residence permit	Eligibility criteria	Documents required	Residence validity	Family reunification	Work rights	Residence requirements
Golden Visa	Investment in real estate or other qualifying assets	Proof of investment, bank statements, valid passport	5 years	Allowed for spouse, children and parents	Allowed for spouse and children	No mandatory residence required
Family reunification	Holder of a Greek residence permit	Marriage and birth certificates or other proof of family ties	1 year	Allowed for spouse and children	No work rights for family members	Must reside in Greece
Employment‑based residency	Employment contract for at least 1 year	Employment contract, work permit from employer	1 year	No family reunification	Allowed with employment contract	Must reside in Greece
EU Blue Card	Highly qualified specialists with relevant qualifications or experience	Diploma or proof of work experience	1 year	No family reunification	Allowed with employment contract	Must reside in Greece
Student Residency	Enrolment in a Greek university	Proof of enrolment, proof of sufficient funds	1 year	Not allowed	Allowed part‑time with restrictions	Must reside in Greece
Financially independent residency	Passive income of €2,000/month or savings of €24,000	Bank statements, proof of income or savings	1 year	No family reunification	No work or business activities allowed	Must reside in Greece
Digital Nomad Visa	Remote worker with at least €3,500/month income	Employment contract with a foreign company, proof of income	1 year	Allowed for spouse and children	Allowed, but family members cannot work	Must reside in Greece
Residency for Victims of Human Trafficking and Refugees	Applicants for asylum, victims of trafficking	Asylum application, proof of trafficking victim status	1 year	Allowed for up to 8 family members	Allowed for work in Greece	Must reside in Greece

How to renew a Greek Golden Visa

The Greek Golden Visa is issued for 5 years and can be renewed indefinitely, as long as the qualifying investment is maintained and program requirements are met.

To ensure a smooth renewal, it is best to start preparing at least two months before your current visa expires. This gives you enough time to avoid any unexpected delays and gather all the necessary documents ^[307] Source: List of documents for Greek Golden Visa renewal, Ministry of Migration and Asylum .

The key condition for renewal is to retain ownership of the property or other qualifying investment, which must meet the minimum threshold.

For your renewal application, you will need to prepare the following documents:

1. Documents required for renewing the Greek Golden Visa.
2. Completed renewal application form.
3. Four recent colour photographs in physical form meeting passport photo standards.
4. Digital copies of the photographs on a CD in JPEG 2000 format.
5. Certified copy of a valid passport or travel document recognised by Greece.
6. For applicants unable to provide a passport, a formal declaration explaining the exceptional circumstances along with supporting documents, such as a consular document or a document issued by a Greek public authority.
7. Document from a public authority from country of origin such as passport, identity card, birth certificate.
8. Valid health insurance policy from a private insurer covering all required health and safety risks in Greece.
9. Photocopies of all pages of travel documents covering the period of the current residence permit.
10. Proof of ownership or valid lease of the property qualifying for the Golden Visa.

The renewal fee is €2,000 and €16 for printing the electronic residence permit.

When a residence permit may be refused

The Greek migration service may refuse to issue or renew a residence permit if the applicant:

• has an unspent criminal conviction;
• poses a threat to national security;
• has committed a crime in Greece;
• has provided false information, such as forged documents related to a property purchase.

A residence permit may be cancelled if the holder is subject to deportation or has been absent from Greece for over 2 consecutive years.

The consular section is located at 5 Tzavella Street, Chalandri, Athens. Telephone and email: +30‑210‑671‑19‑45, athens@dks.ru.

Life in Greece

Greece is a European country with modern infrastructure and a high standard of living. Locals are friendly and enjoy a relaxed, Mediterranean lifestyle.

Safety

Greece has an above‑average safety level, based on data from Numbeo:

• 72% of respondents believe it is safe to walk the streets in Greece;
• 61% feel that robberies have decreased;
• 67% note the presence of corruption and bribery.

Cost of living

The cost of living in Greece is lower than in many other EU countries. A single person spends about €800 per month, excluding rent. A family of four needs around €2,800.

Average grocery prices in Greek markets:

• €1.5 for a litre of milk;
• €4 for a pack of 12 eggs;
• €12.5 for a kilogram of local cheese;
• €9.5 for a kilogram of chicken fillet;
• €2 for a kilogram of apples, bananas, or oranges;
• €1.2 for a kilogram of potatoes;
• €8 for a bottle of wine.

Rental property

Rental prices in Greece vary by region and property location. The most expensive cities are Athens, Thessaloniki, and Heraklion.

Average monthly rents for one‑bedroom apartments range from €250 to 800 across different cities. Three‑bedroom apartments cost between €450 and €1,300 per month.

Utilities, including electricity, heating, water, and waste removal, amount to around €220 per month.

Medical care

Greece has both public and private healthcare systems. Foreign nationals with residency must have medical insurance. It usually covers emergency care, GP visits, and some prescribed medicines.

Private clinics offer insurance plans with broader medical services.

Education

Education in Greece is compulsory from ages 6 to 15. Children attend 6 years of primary school, then 3 years of lower secondary school. Public education is free for citizens and residents.

Parents can start their child’s education earlier by enrolling them in preschool linked to kindergartens, which accept children from age 2.5.

Higher education diplomas in Greece are issued only by public universities. Private institutions are registered as commercial enterprises.

Admission requires a secondary school certificate. Students don’t need to know Greek in advance. They are given 1 year to learn the language, which costs about €700. The remaining years of study are free.

Taxes in Greece

Holding a Greece Golden Visa does not automatically make investors a tax resident in Greece. One becomes a tax resident only by spending more than 183 days a year in Greece or if Greece is the main centre of life and interests.

Non-tax residents pay tax only on income earned in Greece, such as rental income. Foreign income is not taxed.

Tax residents must pay tax on their worldwide income.

Greece has a progressive income tax rate that can go up to 44%. But under a special non‑dom regime, some tax residents can opt to pay a flat annual tax of €100,000 on their worldwide income, no matter how much they earn.

For property owners, the main taxes are:

• annual real estate tax, based on the property’s value and location;
• municipal taxes, usually included in utility bills;
• 3% property transfer tax, calculated from the purchase price;
• 24% VAT on goods and services, though some areas have reduced rates.

New‑build properties are exempt from the 24% VAT and are only subject to the 3% transfer tax.

Final thought about the Greek Golden Visa

1. The Greek Golden Visa is one of the most accessible and cost‑effective residence by investment programs in Europe, with a minimum investment of €250,000.
2. Key advantages include flexible investment options, visa‑free travel within the Schengen Area, and no minimum stay requirement, allowing investors to maintain residency rights without relocating immediately. 
3. Greek real estate investment serves as a qualifying asset and offers rental income and capital growth. It combines residency benefits with financial returns.
4. The application takes about 4 months. Greece’s fast, transparent process and high approval rate make the program a reliable choice for investors.
5. Iranian citizens are eligible, but must document lawful funds and a clean, sanction-safe payment chain via non-sanctioned banks/escrow; Greek banks apply stricter onboarding and may request extended statements, SoF/SoW narratives, and sanctions/PEP screening.