The Greek Golden Visa: A Complete Guide for Indian Citizens

Reading time: 12 minutes

Table of Contents

1. Introduction: The Greek Golden Visa Opportunity
2. Eligibility Requirements for Indian Applicants
3. Investment Options and Financial Considerations
4. The Application Process: A Step-by-Step Guide
5. Benefits Beyond Residency: Why Indians Choose Greece
6. Common Challenges and How to Overcome Them
7. Tax Implications for Indian Golden Visa Holders
8. Success Stories: Indian Investors in Greece
9. Your Mediterranean Journey: Charting Your Course Forward
10. Frequently Asked Questions

Introduction: The Greek Golden Visa Opportunity

Standing at the crossroads between East and West, Greece offers more than just breathtaking coastlines and rich historical heritage. For Indian citizens seeking expanded global mobility and European investment opportunities, the Greek Golden Visa program represents a particularly attractive doorway to the European Union.

But let’s be honest—navigating international residency programs can feel like deciphering ancient Greek itself. As an Indian citizen, you’re likely wondering: Is this actually accessible to me? What’s the real investment requirement? How does this compare to other European options?

Since its launch in 2013, Greece’s Golden Visa has evolved into one of Europe’s most successful residency-by-investment programs, with over 9,500 main applicants approved—including a growing contingent of Indians seeking diversification beyond traditional investment destinations like the UK, US, and Canada.

What sets Greece apart? Consider this: at €250,000 for real estate investment, Greece offers the most affordable entry point to European residency among all Golden Visa programs. This, combined with no minimum stay requirements to maintain your status, makes it particularly suited for Indian professionals and business owners who need flexibility while securing European advantages.

Eligibility Requirements for Indian Applicants

Before embarking on your Greek Golden Visa journey, let’s clarify exactly who qualifies and what you’ll need to prepare.

Basic Eligibility Criteria

The Greek authorities have established clear guidelines for non-EU applicants, including Indians:

• Age requirement: You must be at least 18 years old
• Clean criminal record: Verified through police clearance certificates from India and any country where you’ve lived for over 12 months
• Health insurance: Valid coverage for you and all family members included in the application
• Qualifying investment: Meeting the minimum threshold in one of the approved investment categories
• No prior refusal: No history of rejected visa applications to Schengen countries

Unlike some residency programs that require language proficiency or integration tests, Greece imposes no Greek language requirements for Golden Visa applicants—a significant advantage for Indian professionals with limited time for extensive preparation.

Family Inclusion Provisions

One standout feature of the Greek program is its generous family inclusion policy. As the main applicant, you can include:

• Your spouse or registered partner
• Children under 21 years (both yours and your spouse’s)
• Dependent parents and parents-in-law
• Children up to age 24 if they remain financially dependent and unmarried

For many Indian families with multi-generational living arrangements, this inclusive approach preserves family unity while creating opportunities for the younger generation to study at European universities as residents rather than international students.

Shreya Patel, an immigration attorney specializing in European residency programs, notes: “The family inclusion provisions of the Greek Golden Visa make it particularly attractive for Indian families who often prioritize keeping multiple generations together. This stands in contrast to programs like Portugal’s, which has more restrictive conditions for including parents.”

Investment Options and Financial Considerations

The Greek Golden Visa offers several investment pathways, though real estate remains the overwhelming favorite among Indian investors.

Investment Pathways Comparison

Real Estate Investment Strategies

For Indian investors specifically, Athens and Thessaloniki present compelling options, each with distinct advantages:

Athens Strategy: The capital offers stronger rental yields (averaging 4-6% annually) and greater liquidity when exiting investments. Properties in neighborhoods like Koukaki, Metaxourgeio, and Exarcheia combine affordability with proximity to major attractions, making them ideal for short-term rentals targeting tourists.

Thessaloniki Strategy: Greece’s second-largest city provides better value pricing (approximately 30% lower than Athens) with strong appreciation potential due to major infrastructure developments. The university presence ensures steady long-term rental demand from students.

Coastal properties in areas like Crete, Rhodes, and the Peloponnese appeal to Indians seeking vacation homes that can generate seasonal rental income while providing personal enjoyment.

But here’s the reality you need to consider: The €250,000 minimum typically covers property purchase only. Budget an additional 8-10% for closing costs including:

• Property transfer tax (3.09%)
• Legal fees (1-2%)
• Notary fees (0.5-1%)
• Golden Visa application fees (€2,000 per adult applicant)

The Application Process: A Step-by-Step Guide

Let’s demystify the application journey for Indian citizens, breaking it down into manageable phases:

Phase 1: Preliminary Preparations

1. Passport verification: Ensure your Indian passport has at least 12 months validity
2. Document gathering: Collect and apostille birth certificates, marriage certificates, police clearance certificates
3. Financial proof: Prepare bank statements showing sufficient funds for your intended investment
4. Legal representation: Appoint a Greek attorney through a notarized power of attorney (this can be done at the Greek Embassy in New Delhi, Mumbai, or Kolkata)

Pro Tip: Indian documents require apostille authentication from the Ministry of External Affairs in India before they’ll be accepted by Greek authorities. Budget 2-3 weeks for this process.

Phase 2: Investment Execution

1. Secure Greek tax number (AFM): Your attorney can obtain this on your behalf
2. Open Greek bank account: Required for investment transactions (can be done remotely with the right legal support)
3. Property selection and due diligence: Research title deeds, encumbrances, and permits
4. Investment completion: Execute purchase agreement and transfer funds from your Indian account (under RBI’s Liberalized Remittance Scheme)

Under India’s Liberalized Remittance Scheme (LRS), you can remit up to USD 250,000 per financial year (approximately €227,000 at current exchange rates). For investments exceeding this limit, family members can contribute their LRS quotas, or you can utilize the Foreign Exchange Management Act provisions for overseas direct investments.

Phase 3: Residence Permit Application

1. Submit application: File through the one-stop service at the Greek Directorate of Migration
2. Biometrics collection: Schedule an appointment to provide fingerprints and digital photograph
3. Application review: Current processing times average 2-3 months
4. Permit issuance: Collect your residence permits or have them mailed to your authorized representative

Rajiv Mehta, an Indian tech entrepreneur who completed the process in 2022, shares: “The most challenging part was navigating the initial paperwork from India. Once I appointed a specialized attorney in Athens, the process became substantially smoother. My entire family received approval within 10 weeks of submitting our application.”

Benefits Beyond Residency: Why Indians Choose Greece

The Greek Golden Visa offers Indian citizens advantages that extend well beyond basic residency rights:

Mobility and Access Benefits

• Schengen Access: Travel freely across 27 European countries without additional visas
• No Stay Requirements: Unlike Portugal or Malta, Greece imposes no minimum stay requirements to maintain your residency status—ideal for Indian business owners who can’t relocate permanently
• Visa-Free Travel: While the Golden Visa itself doesn’t expand visa-free destinations for Indian passport holders, it drastically simplifies obtaining visas for countries like the US, UK, and Canada
• Educational Opportunities: Your children gain access to European universities as residents, avoiding international student fees and quotas

Lifestyle and Business Advantages

Beyond the visa benefits, Greece offers Indian investors unique advantages:

• Mediterranean Lifestyle: Exceptional climate with 300+ sunny days annually—a stark contrast to the extreme weather variations in many Indian cities
• Healthcare Access: Entry into European healthcare systems with standards comparable to top private facilities in India’s metro cities
• Business Gateway: Strategic location connecting Europe, Africa, and the Middle East—valuable for Indian businesses expanding internationally
• Cultural Compatibility: Strong family values and hospitality traditions that resonate with Indian cultural priorities

The growing Indian community in Athens and Thessaloniki has established cultural associations, Indian restaurants, and support networks that help new arrivals adjust. The Indian Association of Greece regularly organizes Diwali and Holi celebrations, creating a familiar cultural environment for newcomers.

Common Challenges and How to Overcome Them

While the Greek Golden Visa offers significant advantages, Indian applicants should prepare for several common challenges:

Administrative and Practical Hurdles

Challenge #1: Foreign currency transfer limitations

India’s Liberalized Remittance Scheme (LRS) cap of USD 250,000 per year can constrain larger investments. Strategic approaches include:

• Utilizing family members’ LRS quotas for joint investments
• Structuring the property purchase across two financial years
• Exploring business investment routes through Overseas Direct Investment provisions

Challenge #2: Document authentication complexity

Indian documents require multi-step authentication before Greek authorities will accept them:

• Birth certificates, marriage certificates, and police clearances must be apostilled by the Ministry of External Affairs
• Some documents may need prior attestation from state Home Departments
• Bank statements often require additional financial institution certification

Solution: Work with specialized document processing agencies in Delhi, Mumbai, or Bangalore that handle the authentication chain, or engage a Greek immigration attorney with experience helping Indian clients navigate these requirements.

Property Market Challenges

Challenge #3: Remote property assessment risks

Purchasing property from thousands of kilometers away creates obvious due diligence complications. Indian investors have occasionally encountered:

• Misrepresented property conditions
• Unrealistic rental yield projections
• Unexpected renovation requirements

Solution: Conduct at least one in-person visit before finalizing purchases. If travel is impossible, engage an independent property inspector and request video walkthroughs at different times of day. Verify rental projections against actual performance data from similar properties.

Anil Sharma, a Delhi-based investor who purchased two Athens apartments in 2021, recommends: “Don’t rush the property selection process. I took my time, made two trips to Athens, and consulted with both local residents and other Indian investors before making decisions. This patience saved me from several potentially problematic investments.”

Tax Implications for Indian Golden Visa Holders

Understanding the tax landscape is crucial for Indian Golden Visa applicants, as it affects both investment returns and long-term financial planning.

Greek Tax Considerations

Greece distinguishes between tax residency and having a residence permit. As a Golden Visa holder, you’ll face these key tax considerations:

• Tax Residency Trigger: You become tax resident in Greece only if you spend 183+ days per year there (simply holding the Golden Visa doesn’t make you tax resident)
• Property Taxes: Regardless of residency status, you’ll pay the Unified Property Tax (ENFIA) on Greek properties, averaging 0.1-0.35% of assessed value annually
• Rental Income: Taxed at progressive rates from 15-45% if you rent your Greek property
• Capital Gains: Property sold after holding for 5+ years is currently exempt from capital gains tax

Indian Tax Obligations

Indian tax residency is determined by your physical presence in India:

• If you spend 182+ days in India during a financial year, you remain an Indian tax resident with worldwide income taxation obligations
• If you maintain Indian tax residency while earning Greek rental income, this must be declared in your Indian returns
• The India-Greece Double Taxation Avoidance Agreement (DTAA) prevents double taxation, typically through tax credits

Many Indian Golden Visa holders adopt a strategic approach: they maintain their tax residency in India (staying under 183 days in Greece) while enjoying the mobility and security benefits of Greek residency. This approach works particularly well for business owners and professionals who need to maintain substantial Indian presence for business reasons.

Tax Planning Strategy: Consider engaging a tax advisor experienced in both Indian and Greek tax systems before completing your investment. The structuring of ownership (individual vs. company) and timing of purchase can significantly impact your tax position.

Success Stories: Indian Investors in Greece

Let’s examine how two Indian investors navigated the Greek Golden Visa process with different objectives and approaches:

Case Study 1: The Technology Entrepreneur

Vikram Desai, a 42-year-old software company founder from Pune, sought European mobility to support his business expansion while creating a partial retirement plan.

Investment Approach: Vikram purchased two properties—a €180,000 two-bedroom apartment in Athens’ Koukaki neighborhood and a €90,000 vacation home on Crete. His strategy combined rental income from the Athens property (managed by a local agency for short-term tourist rentals) with personal enjoyment of the Crete property during summer months.

Outcome: Three years after obtaining his Golden Visa, Vikram’s Athens property generates 6.2% net annual yield while appreciating approximately 15% in value since purchase. The flexibility of the Greek residency allows him to spend 2-3 months annually in Europe while maintaining his primary business operations in India.

Key Insight: “The diversification into European real estate has given me both business credibility with European clients and personal peace of mind regarding geo-political risk distribution. The ability to bring my elderly parents on the same visa program meant our family connections remain intact despite this international expansion.”

Case Study 2: The Multi-Generational Family Plan

The Sharma family from Mumbai employed the Golden Visa as a comprehensive education and lifestyle strategy spanning three generations.

Investment Approach: Family patriarch Rajesh Sharma, 58, invested €270,000 in a newly renovated three-bedroom apartment in Thessaloniki’s university district. The family included Rajesh’s wife, their 19-year-old son (planning to study medicine in Europe), and both sets of grandparents on the application.

Outcome: Their son gained admission to Aristotle University’s English-taught medical program as a resident rather than an international student, saving approximately €8,000 annually in tuition differentials. The grandparents now spend 4-5 months yearly in Greece, enjoying healthcare quality that surpasses their options in Mumbai. The property is occupied by family members during academic terms and rented to tourists during summer breaks.

Key Insight: “We approached this as a 15-year family investment plan. The initial motivation was our son’s education, but we’ve discovered the residency benefits for the older generation are equally valuable. The Mediterranean climate has significantly improved my father’s respiratory health issues, and the healthcare system provides excellent geriatric care.”

Your Mediterranean Journey: Charting Your Course Forward

The path to your Greek Golden Visa is both a strategic investment and a lifestyle decision. Here’s your action plan to move forward confidently:

1. Financial Assessment: Evaluate your investment capacity under India’s LRS limits, determining whether you’ll utilize multiple family members’ quotas or structure your investment across fiscal years
2. Documentation Preparation: Begin the authentication process for your core documents (birth certificates, marriage certificates, police clearances) through the MEA apostille procedure
3. Legal Representation: Select a Greek attorney with specific experience helping Indian nationals—preferably one who has assisted at least 10+ Indian applicants previously
4. Investment Research: Determine your primary objectives (rental yield, appreciation, personal use) and narrow your property search to 2-3 specific regions that align with these goals
5. Tax Consultation: Meet with a tax advisor knowledgeable about both Indian and Greek tax systems to optimize your investment structure

Remember that the most successful Indian Golden Visa holders approach the program not merely as a transaction but as a strategic life enhancement. Integration with Greek culture, forming connections within local communities, and understanding regional business practices all transform residency from a document into a genuine lifestyle asset.

As you contemplate this Mediterranean opportunity, consider how it aligns with your broader life goals. Will this serve as your gateway to European business expansion? A foundation for your children’s international education? Or perhaps your first step toward eventual retirement in a Mediterranean paradise?

Whatever your motivation, the Greek Golden Visa offers Indian citizens an accessible entry point to European residency with exceptional flexibility. As Greece continues strengthening its economic fundamentals following years of fiscal reforms, your investment today positions you to participate in the continued renaissance of one of Europe’s most historic nations.

What timeline will you set for your Greek residency journey? The Mediterranean awaits.

Frequently Asked Questions

Can Indian citizens directly purchase property in Greece without government approval?

Yes, unlike some European countries, Greece imposes no restrictions on property purchases by non-EU nationals, including Indians. You can directly buy real estate without prior government approval. However, properties in certain border regions and some islands may require additional clearance procedures. The purchase process typically involves appointing a Greek attorney, securing a tax number (AFM), opening a local bank account, and conducting standard due diligence before completing the transaction at a notary’s office.

How does the Greek Golden Visa compare to Portugal’s program for Indian applicants specifically?

For Indian applicants, the Greek program offers several advantages over Portugal’s. Greece requires a lower minimum investment (€250,000 vs. Portugal’s €350,000-€500,000), imposes no language requirements, and—crucially for busy professionals—has no minimum stay requirement to maintain the visa. Portugal requires spending at least 7 days in the country during the first year and 14 days in subsequent two-year periods. However, Portugal does offer a slightly faster pathway to citizenship (5 years versus Greece’s 7 years) for those seeking eventual EU citizenship. Greece also processes applications significantly faster, with average approval times of 2-3 months compared to Portugal’s 8-12 months.

What healthcare coverage options are available to Indian Golden Visa holders in Greece?

Indian Golden Visa holders must maintain private health insurance that covers emergency medical care, hospitalization, and repatriation costs. Several Greek and international insurers offer policies specifically designed for Golden Visa holders, with annual premiums typically ranging from €1,000-2,000 per person depending on age and coverage level. If you become a tax resident by spending 183+ days annually in Greece, you can potentially access the public healthcare system (ESY) by contributing to Greek social security. Many Indian residents opt for a hybrid approach—maintaining private insurance for specialized care while utilizing the public system for routine matters. Major hospitals in Athens, Thessaloniki, and tourist islands have English-speaking staff, and some facilities in Athens even have Hindi-speaking personnel.

Article reviewed by Clara Schneider, Central European REITs | Dividend-Focused Portfolio Architect, on May 15, 2025