Can you obtain Greek citizenship through investment?

Let’s be honest: the Greeks know how to enjoy life. They’ve been passing this knowledge down through generations. Life in Attica is so infused with this mindset that almost every tourist leaves Greece just a little bit in love with it.

And who can blame them? Life here is peaceful, delicious, and bathed in soft sunlight all year round. A little bit of feta, a lot of turquoise sea, and apartments that offer not just European residency, but also stable income — but let’s take it one step at a time.

Let’s get straight to the point: can you obtain Greek citizenship by purchasing real estate?

The short and direct answer is: no, not directly.

You can’t just buy a property and automatically receive a Greek passport. This isn’t Malta circa 2017. And even there, that door has since closed — following a European Court ruling, Maltese authorities are no longer allowed to grant citizenship purely in exchange for investment.

But! Greek authorities have outlined a clear and legal path for investors — and many are already taking it:

Investor → Resident → Citizen

Here’s how it works in practice:

📍 Step 1: Obtain a residence permit through the Golden Visa program
You purchase real estate and receive a 5-year residence permit. This permit is renewable, allows you to rent out the property, and gives you free movement within the Schengen Zone. You’re not required to live in Greece — but that becomes important in later stages.

By the way, you can find excellent properties in Greece starting at just €250,000. If the apartment was converted from an office or other non-residential use, this amount meets the minimum investment threshold. Otherwise, you’ll need to invest at least €400,000 to qualify for the Golden Visa.

📍 Step 2: Apply for long-term residency
After 5 years, you can apply for long-term resident status. At this stage, you’ll need to show a tax history, valid health insurance, and basic knowledge of the Greek language.

📍 Step 3: Apply for citizenship
And here’s the final step. To apply for citizenship, you must have lived in Greece for at least 7 years. Lived — not just owned property. You’ll also need to pass exams in the Greek language, history, and constitution basics.

It’s not a fast-track program — but it’s a real and achievable path.

What Does the Golden Visa Offer — and Why Is It So Popular?

Greece’s Golden Visa is a ticket to Europe, opening doors to new opportunities.

What participants receive:

• A 5-year residence permit with the option to renew
  

• Free movement across the Schengen Zone
  

• The right to own property and earn rental income
  

• No obligation to reside in Greece to maintain residency status
  

That’s why investors are actively choosing Greece. In 2024 alone, the number of Golden Visa applications grew by 10%, reaching nearly 9,500 — a record high for the country.

The reason? Greece has the lowest entry threshold in Europe: from just €250,000 for renovated properties. Investors also enjoy a wide range of options across different property types and regions.

And it’s not just about getting residency papers — it’s also about earning stable income. For example, long-term rental yields in Athens average around 3.5% annually after taxes. A 90 m² apartment in the Koukaki area can generate between €900 and €1,100 per month, depending on its condition and furnishings.

Greek Residence Permits, Permanent Residency, and Citizenship: What’s the Difference?

Many investors who are just starting to explore the Golden Visa program often confuse the terms residence permit, permanent residency, and citizenship. Let’s clarify these concepts to help you make informed decisions.

• Residence Permit (Temporary Residency) — This is a permit to live in the country for a fixed period. In the case of Greece’s Golden Visa, it is granted for 5 years and can be renewed as long as the investment is maintained. It allows you to live in Greece and travel within the Schengen Zone, but it does not grant the right to work in Greece.
  

• Permanent Residency — This status allows you to reside in the country indefinitely. In Greece, you can apply for permanent residency after several years of living there with a valid residence permit, provided you meet specific conditions.
  

• Citizenship — Full membership in the state, with all associated rights and responsibilities, including a passport, voting rights, and access to full social protections. In Greece, you can apply for citizenship after 7 years of actual residence, provided you meet requirements related to stay and integration.
  

Where does the confusion come from?

Online and among certain brokers, you may come across misleading claims suggesting that investment automatically leads to citizenship. But that’s not how it works.

“We often receive questions from clients expecting their real estate investment to instantly result in citizenship,” shares our Head of Sales, Alexey Alexandrov. “It’s important to understand that the Greek Golden Visa offers a residence permit that can be renewed, and under the right conditions, it allows you to apply for citizenship after 7 years. But it’s a long-term process that requires meeting all legal criteria.”

Invest with Clear Goals

If your goal is EU citizenship, you should be realistic: the journey isn’t fast — but it is achievable. Greece doesn’t offer a “passport at the push of a button,” but it does provide a stable and transparent path through residency.

The Golden Visa is a real opportunity to establish yourself legally in Europe, earn rental income, and eventually apply for citizenship. But you need a clear strategy and a realistic outlook: 7+ years, consistent integration, and strict compliance.

And most importantly — don’t fall for promises of “fast and easy” citizenship. Work with professionals who understand the market and think several steps ahead.