Golden Visa - Idiots Guide

Good morning/evening,

There is lots of info out there on going the golden visa route, but one hurdle really stands out. To gain a golden visa you need amongst other things a Greek bank account and purchase a property (min €250k/€500k). To do both of these you need a tax identification number (AFM), but to get a AFM you need to have a property/address. I'm sure that there is a simple explanation, but I can't find it. We hope to be in Greece in March and would like to get the ball rolling, but I can't overcome this hurdle. Any advice or guidance would be much appreciated.

Cheers, Tim

Hi Tim

I went through this process last year so hopefully this info is helpful (taking into account the September parliamentary statement that the GV investment would increase to €500K & the change in the Ministry accepting online applications for first time applicants - not previously accepted).

In my experience, you definitely need to appoint a lawyer to complete the process. We found a property, put in an offer which was accepted same day & instructed a lawyer recommended by the real estate agent within 3 days of our offer. We were UK based & arranged Power of Attorney with the Greek lawyer via a London based Greek speaking notary. The lawyer then obtained a tax number for each of us & completed all the necessary preliminary paperwork for the purchase. You will need apostille copies of marriage certificate and birth certificate. We arrived in Naxos 5 days prior to completion on our home & opened a bank account with an appointment arranged by our lawyer. The purchase was completed in Naxos with a local notary, ourselves & the seller. Documents were then submitted to the Greek Land Registry, followed by an 8 week wait for Greek Land Registry documents to be filed with our Naxian notary, who subsequently couriered them to our lawyer in Athens. We had to wait a further 6 weeks for our lawyer to obtain an appointment with the Ministry to file my application for the GV.  Unless you are an EU National (like my husband) you are still subject to Schengen rules until the Greek government issue your final visa. This means that even though you have purchased a property you are only legally allowed to stay in the EU for 90 days until at least the temporary residents permit/ Golden Visa is issued. My interim visa was finally granted late November.  The interim visa is still restrictive & valid for 12 months only whilst your official visa is processed. Until then you may reside & travel freely throughout Greece but not the rest of the EU.

Hello Tim,

"In order to open a Greek bank account, and therefore make the investment, you will need a Greek non-resident tax number (AFM). To do this, you either need to do it in person at a Greek tax office or remotely through granting power of attorney to a local accountant or lawyer. Please note that a regular notary is not enough, and you are required to sign the power of attorney in front of a Greek consulate. You will need a photocopy of your passport, birth certificate, and marriage certificate if married. Once you have an AFM tax number, you must submit your tax return every year in Greece, regardless of your income or residency.

To send the investment purchase amount, you don't need to have a Greek bank account and can do it from a foreign bank account, however when you pay property tax and utility bill payments, it has to come from a Greek bank account. Currently, the only option for opening a bank account remotely in Greece is Pireus Bank. This will also need to be done by providing power of attorney to your legal representative. Most banks are still firmly brick-and-mortar, however things seem to be on the path towards change due to Covid, so it is likely more remote banking options will open up in the future."

Hope that helps you.


@Fashionista51 Brilliant, thanks so much for the guidance and sharing your experience, it's really appreciated. Last time I was in Naxos was likely 1983, went looking for work picking oranges via the magic bus from London, it was March so no oranges! Of course, pre-internet so no real way of finding out. All the best, Tim

@EUGENE DEE hi Eugene, thanks for that advice, much appreciated, looks like we have something to get onto when next in Greece 👍

Hello everyone,

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Thank you,

Cheryl team


email me at ******* and I can share what I'm doing and the contacts, it won't let me here

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@Fashionista51 Hello, I have a similar situation as yours being a non-EU citizen (American) and I have an EU husband (French). I am just curious why being married to an EU citizen you chose the Golden Visa route rather than just applying for the Greek residency as a spouse of an EU national?

@Yelena Deland it's often about which route has the least hassle and pain - you can guess whxhi is easiest …

I see all European country if you have 5 residence long term when you renew you will get automatically citizen but here Greece you need to past exam with paying 150euro parasol ..I live and work 20 years