Greece Golden Visa Program
A Legal Overview of the Greece Golden Visa Program
The Greece Golden Visa Program is based on Immigration Code No. 5038/2023 and the secondary legislation enacted under this Code. It is designed to grant residence permits in Greece to third-country nationals who meet the prescribed requirements.
Although the Program is widely associated with real estate investment, from a legal perspective it is not merely an investment mechanism.
Rather, it constitutes a multi-layered legal framework at the intersection of immigration law, administrative law, real estate law, tax law, and regulations concerning the prevention of money laundering.
For this reason, Golden Visa applications must be assessed not only in terms of investment criteria but also within the framework of all legal obligations prescribed by the applicable legislation.
Legislative Changes Affecting the Golden Visa Program
Legislative amendments introduced in recent years have significantly affected the scope and implementation of the Golden Visa Program.
In particular, the revision of investment thresholds, the adoption of different criteria for certain regions, and the introduction of new restrictions concerning specific types of property have made it necessary to plan the application process carefully from both an economic and legal perspective.
Rights Granted Under the Golden Visa
The Golden Visa grants foreign investors the right to reside legally in Greece. However, this status does not automatically provide the holder with a right to work or citizenship of the European Union.
Nevertheless, residence permit holders may benefit from short-term travel within the Schengen Area, subject to the rules currently in force.
It is therefore essential to evaluate accurately the scope and limitations of the rights granted under the Program.
Legal Requirements to Be Met by Greece Golden Visa Applicants
To obtain a residence permit under the Golden Visa Program, the applicant must:
- Be a third-country national who is not a citizen of the European Union,
- Fulfil one of the investment requirements prescribed by law,
- Hold a valid passport or travel document,
- Obtain valid health insurance in Greece,
- Demonstrate the lawful source of the funds used for the investment.
In addition, the applicant must:
- Demonstrate the required financial capacity,
- Have no circumstances that would prevent the issuance of a residence permit on the grounds of public order or public security,
- Submit all required official documents completely and accurately,
- Complete the application process in accordance with the applicable legislation.
Compliance of the Investment with the Golden Visa Program
To qualify for a Golden Visa, the applicant must satisfy the conditions applicable to at least one of the investment categories recognised under Greek law.
Accordingly, merely making an investment is not sufficient. The investment must fall within an eligible category under the Golden Visa Program.
Investment Types Accepted Under the Golden Visa Program
The principal investment categories accepted under the Program include:
- Real estate investment: The acquisition of an eligible property in accordance with the conditions and regional requirements prescribed by law.
- Special real estate categories: Special investment arrangements, such as the conversion of qualifying commercial properties into residential properties or the restoration of protected buildings.
- Other accepted investment types: The completion of one of the alternative investment options regulated under the Program.
Legal Due Diligence and Investment Security in the Golden Visa Process
One of the most important matters to consider during the Golden Visa application process is ensuring the legal security of the investment.
Legal Checks in Real Estate Investments
Particularly in applications based on the acquisition of real estate, it is essential to examine the ownership status of the property, verify the land registry records, investigate rights in rem such as mortgages or attachments, determine compliance with zoning and planning legislation, and review the required occupancy and use permits.
In this context, comprehensive legal due diligence conducted prior to the investment contributes to:
- Protecting the investment,
- Safeguarding the continuity of the residence permit.
The approval of the application does not mean that the investment property or the related legal transactions will not become subject to a dispute in the future.
Individual Assessment of Each Application
Particularly for international investors, it should be recognised that every application has its own specific legal characteristics.
Various factors, including the applicant’s nationality, family structure, investment method, source of funds, and the legal nature of the investment, may directly affect the assessment of the process.
For this reason, rather than relying on standard solutions, each case should be evaluated according to its own circumstances, and tailored legal strategies should be developed.
The Importance of Legal Advice During the Golden Visa Process
The safe and sustainable enjoyment of the rights granted under the Program depends on:
- The correct interpretation of current legislation,
- The early identification of legal risks,
- The management of the application process by experienced legal professionals.
Given that the legislation is regularly amended and administrative practices are updated, professional legal advice is important not only for the successful completion of the application but also for the long-term protection of the applicant’s residence permit status.
Obtaining legal advice at every stage from the preparation of the Golden Visa application and completion of the investment transaction to dealings with public authorities and the renewal of the residence permit helps minimise potential risks.
Lex Legal Golden Visa Legal Advisory Services
Lex Legal, through its experienced team, provides legal advisory services in accordance with international standards, from the initial assessment of the Golden Visa application to the issuance of the residence permit and the management of subsequent legal procedures.
For further information about the Greece Golden Visa Program, its application requirements, and the relevant legal process, or to request a legal assessment tailored to your individual circumstances, you may contact the Lex Legal team.
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