Greece Golden Visa: With ₹3 cr, Indians can live with family, travel Europe

From €250,000 property buys to Schengen access, Greece's Golden Visa offers Indians a flexible residency option with family inclusion and tax perks

Is Greece your dream destination? If yes and you have the money, you can also live there long term. But how? Through its Golden Visa scheme, officially introduced in 2013.

 

What is Greece's Golden Visa

 

The Greece Golden Visa is a residence-by-investment programme that allows non-EU citizens, including Indians and their families, to secure a five-year residence permit in Greece in exchange for an investment. The permit is renewable.

 

“The Greece Golden Visa is among Europe’s most accessible residency-by-investment programmes, offering a minimum property investment of €250,000 for select properties (such as heritage buildings under restoration or conversions), with standard thresholds now €400,000 (other regions) and €800,000 (Athens, Thessaloniki, islands),” Andri Boiko, founder and CEO of international advisory firm Garant In, which focuses on residency and citizenship programmes, told Business Standard. “Application fees are €2,000 for the main applicant and €150 per family member, plus additional legal and property fees of about 11–12 per cent of the property value. Family inclusion extends to spouses, children under 21, and parents of both applicant and spouse.”

 

 

What are the benefits

 

According to Paresh Karia, CEO of immigration advisory firm Acquest Advisors, Indians who invest receive:

 

• The right to live in Greece permanently for self, spouse, children, and parents with no minimum stay requirement

• Visa-free travel across the Schengen zone for up to 90 days within any 180-day period

• The ability to earn rental income from property

• A retirement base in Europe with lower living costs, good healthcare, and mild weather

 

“This means you and your family can live and do business in Greece while enjoying visa-free travel across the Schengen Zone,” Karia explained.

 

Boiko added, “Greece’s Golden Visa may come at a hefty price, but it offers clear benefits. In my decade in the immigration industry, I notice more Indian high-net-worth individuals opting for Golden Visas, retaining their Indian passport but gaining all other advantages the visa brings.” 

 

What does it cost

 

Karia broke down the investment options:

 

€250,000 (about ₹2.31 crore): Property undergoing renovation or conversion

€400,000 (about ₹3.7 crore): Properties in most regions

€800,000 (about ₹7.4 crore): Premium regions such as Athens, Mykonos, Santorini

€500,000 (about ₹4.62 crore): Bank deposits or government bonds

 

Government charges for a family application typically range between €2,200 and €2,500.

 

How does it compare with Malta and Portugal

 

Boiko explained that Indians often prefer Greece over Malta or Portugal:

 

• Greece offers a lower entry cost, starting from €250,000, compared with Malta’s minimum €375,000+

• There is no minimum stay requirement, unlike Portugal’s seven days per year or Malta’s ongoing residency rules

• Family inclusion is broader, covering both sets of parents

• Applications are processed faster, often within two to four months

• Residency remains valid as long as the investment is maintained

 

“While Malta is attractive for immediate permanent residency and Portugal for the fastest citizenship route, Greece offers affordability, flexibility, and Schengen mobility that appeal to Indian investors,” Boiko said.

 

Greece Golden Visa: Pros and cons

 

Pros

 

• One of the cheapest Golden Visas in Europe, starting at €250,000

• Processing in three to six months

 

Cons

 

• Citizenship can take over seven years

• Extended physical presence is required for citizenship eligibility

• Bureaucratic delays and language barriers remain

 

Cost of living and tax

 

“Low cost of living is another advantage—about $2,000–2,500 per month, 30–50 per cent cheaper than other European countries or the US,” said Karia.

 

Boiko added that Greece offers a non-dom tax regime for Golden Visa holders investing €500,000 or more. “This allows payment of a flat €100,000 annual tax on global income, regardless of the amount, for up to 15 years. Additional family members can be added for €20,000 each per year,” he explained.

 

What changed in 2025

 

The rules changed from March 31, 2024, with new thresholds applying in 2025. The minimum rose to €800,000 in high-demand areas, €400,000 elsewhere, while €250,000 still applies to properties under renovation.

 

“New rules also mandate personal use or long-term rentals instead of short-term lets like Airbnb, a minimum 120 sq. m property size, and stricter due diligence checks. Investments must be held for at least seven years, with penalties of up to €500,000 for non-compliance,” Boiko said.

 

Why it matters

 

• No residency requirement to maintain the permit, useful for Indians with business or family bases in India

• Visa-free Schengen travel for 90 days in any 180-day period

• Spouse and dependent children under 21 are included

• Healthcare and education access like Greek nationals

• Possible Greek citizenship after more than seven years of residence

 

Application process

 

1. Choose a qualifying investment and complete the transaction

2. Gather the required documents

3. Submit the application through the Aliens and Immigration Department, usually with legal help

4. Pay fees of €2,000 for the main applicant and €150 per family member, plus €16 for each residence permit card

5. Provide biometrics in Greece

6. Wait six to 12 months for approval

7. Receive the residence permit once cleared