The Greek government has introduced new measures to streamline the Golden Visa process. Its goal is clear: make the programme more accessible, attract more foreign investors, and boost tourism.
Is Greece's Golden Visa losing momentum?
The Greek Golden Visa has been struggling. The country is finding it increasingly difficult to bring in wealthy foreign applicants.
According to the Greek Ministry of Migration, applications for property-based Golden Visas fell by 28.5% in April, compared to the same period in 2024—the first drop since 2022.
The main reason is the more rigid rules introduced in 2024, which raised the minimum investment thresholds, especially in tourist hotspots.
The European Union has also kept the pressure on Greece, repeatedly warning about risks of tax evasion and money laundering linked to Golden Visa schemes.
But the government's biggest challenge today comes from within the country. With Greece still facing a profound housing crisis, many locals are calling for the complete suspension of the program.
The new rules shaping the Greek Golden Visa
To overcome these obstacles and rekindle growth, the Greek government has rolled out a new set of measures, effective since 11 November.
Investment in tourism infrastructure
This is one of the most significant changes introduced by the reform.
Foreign residents can now qualify for a Golden Visa by investing in Greek tourist accommodation — even through long-term leases or timeshare agreements. The key requirement is obtaining a certificate from the Greek National Tourism Organization.
Expanded notarial checks
To curb fraud, for instance, using the same property for multiple Golden Visa applications, the reform significantly strengthens verification procedures. Notaries must now check:
- the identity of the buyer and the seller
- the exact address and nature of the property
- the agreed sale price or rental amount
- payment terms
- the presence of any clauses in the contract
Notaries must also verify whether the property has previously been used for a Golden Visa application. For rental-based applications, leases must run for at least five years, in line with program requirements.
Faster issuance of the initial Golden Visa
The process of issuing the first Golden Visa has been streamlined. Applicants no longer need to register their contract with the land registry or mortgage office before applying. Instead, they can submit proof that the registration process has been initiated or a statement from their lawyer confirming that the registration request has been filed.
The final proof of registration can be provided later, during the residence permit renewal. This simplification enables faster processing and, ultimately, quicker issuance of Golden Visas. Moreover, applicants must subscribe to a private health insurance plan, pay a fee of €2,000, and obtain an entry visa if they do not already hold a valid Schengen residence permit.
Stronger anti-fraud measures
Foreign investors applying through intermediary companies, whether based in Greece or elsewhere in the EU, will now have to prove their relationship with these entities. If they own the company, hold shares, or have a stake in it, they must provide documentation to confirm it. This requirement aims to prevent fraudulent declarations and increase accountability.
