Why Indian Investors Are Turning to Greece’s €250k Golden Visa Option After Program Closures Elsewhere

Greece golden visa offers Indian investors a powerful path to European residency. With a minimum investment of €250,000 in real estate, it opens the door to visa-free travel across the Schengen Area, an attractive lifestyle, and access to European markets. This article explains why the Greece Golden Visa is gaining popularity among Indian nationals and how to benefit from the opportunity.

Anna Semenyuk, Citizenship by Investment Programs Advisor at Immigrant Invest, explains who can apply, the investment options, and the application process.

What is the Greece Golden Visa?

The Greece Golden Visa was launched in 2014. It enables non-EU nationals and their families to obtain a five-year renewable residence permit by making a qualifying investment in Greece. The most common route is purchasing real estate for renovation worth at least €250,000.

The program offers:

• residency without physical presence requirements;
• visa-free travel within the Schengen Area;
• access to high-quality healthcare and education in Greece.

Portugal golden visa is another popular European residence program, but with different thresholds and conditions.

Why is it popular among Indian investors?

Indian investors are increasingly seeking European residency for business flexibility, lifestyle improvements, and a Plan B. The Greece Golden Visa is a strong contender for several reasons:

1. Affordable entry threshold. The €250,000 minimum investment is among the lowest in Europe.
2. Schengen access. Indian nationals benefit from free travel to 29 European countries.
3. Family inclusiveness. Spouses, children under 21, and dependent parents can be included.
4. No language test or physical stay required. This suits busy professionals and entrepreneurs.
5. Investment potential. The Greek real estate market is recovering and offers rental income and appreciation.

Eligibility and who can apply

Applicants must:

• be non-EU/EEA nationals;
• be over 18 years of age;
• have no criminal record;
• hold medical insurance valid in Greece;
• make the required investment from legal sources.

Family members eligible for inclusion:

• spouse;
• children under 21, extended to 24 if they are studying;
• dependent parents of both investor and spouse.

Investment options and thresholds

There are several investment routes under the Greece Golden Visa program:

1. Purchasing real estate for renovation. The investment is €250,000.
2. Leasing hotel or tourist accommodation for at least 10 years.
3. Investing in designated high-demand areas such as central Athens or Thessaloniki, which now require a minimum of €800,000.
4. Investing €400,000 for properties outside high-demand zones.
5. Buying shares in Greek companies or bonds, though this option is rarely chosen.

Recent changes and 2024–2025 updates

In 2023, the Greek government raised the minimum investment to €800,000 in high-demand areas like Athens and Thessaloniki. In less popular regions, the threshold for ready-to-move-in properties was set at €400,000, This change remains active through 2025.

Investors must now meet the higher threshold when buying property in central Athens, Thessaloniki, Mykonos, or Santorini.

In all regions, the minimum investment for properties bought for renovation remains at €250,000.

The application process has also been digitised, reducing delays and allowing investors to apply remotely through legal representatives.

Greece Golden Visa property trends driven by foreign demand

Foreign investors have significantly shaped the Greek property market. Interest from Chinese, Israeli, and Indian nationals has boosted demand in both the residential and tourist sectors.

In cities like Athens and Thessaloniki, prices have surged, especially in areas covered by the €400,000 and €800,000 rule.

Properties for renovation are attracting those who want to stay within the €250,000 bracket.

Investors increasingly seek renovated apartments, modern seafront houses, and properties that offer strong rental yield or long-term appreciation. Many developments now offer management services to meet the needs of non-resident owners.

Application process

The application can be completed within six months. The process includes several steps:

1. Choose a property and reserve it through a real estate agent or developer.
2. Sign a power of attorney, allowing a local lawyer to represent the investor in Greece.
3. Finalise the purchase by transferring the funds and registering the property.
4. Prepare and submit the residence application, with all documents translated into Greek.
5. Visit Greece once to submit biometric data.
6. Receive the residence permit, which is valid for 5 years and can be renewed indefinitely.

Applicants do not need to live in Greece to maintain their residency status.

Comparison with other European residence-by-investment programs

Greece offers one of the most accessible paths to EU residency. The minimum investment starts at €250,000. Portugal offers investment options, including fund investments starting at €250,000, and requires applicants to stay in the country for at least 7 days a year.

Italy’s program starts at €250,000 for startup contributions and has physical presence requirements. By contrast, Greece requires no minimum stay, making it ideal for investors who want maximum flexibility.

Tax implications for Indian nationals

Indian investors should consider both Greek and Indian tax rules before applying.

Greece does not tax global income unless the investor becomes a tax resident by spending more than 183 days per year in the country. Income from rental properties in Greece is taxable at progressive rates, starting at 15%.

A Double Taxation Avoidance Agreement between India and Greece ensures that income is not taxed twice. Indian tax residents must declare foreign assets and income to Indian authorities.

It is advisable to consult with a tax advisor familiar with both Greek and Indian legislation.

Conclusion

The Greece Golden Visa remains one of the most affordable and attractive residency options in the European Union. It combines a low investment threshold, visa-free Schengen access, and a straightforward application process.

For Indian nationals, it represents not only a gateway to Europe but also a solid property investment and a strategic plan for global mobility.