Relocating to Greece: Golden Visa and Financial Planning

Greece has evolved from a popular holiday destination to a serious relocation option for internationally mobile families and investors. Several factors drive this: a warm climate, high quality of life, relatively low cost of living compared to Western Europe, access to EU citizenship pathways, and — notably — a pair of genuinely attractive tax regimes for incoming residents. The Greek Golden Visa for investors and the non-dom flat tax for high-net-worth individuals have put Greece firmly on the radar for those planning international moves. This guide covers the key elements of relocating to Greece.

Residency Options for Non-EU Nationals

The Greek Golden Visa

Greece's Golden Visa is a residency-by-investment programme that grants a five-year renewable residence permit to non-EU/EEA nationals making qualifying investments in Greece. Key points as of 2026:

Real estate investment: Real estate has historically been the most popular qualifying category. However, minimum investment thresholds were raised significantly in 2023 and 2024 in response to housing market concerns, and the programme continues to be reviewed. As of 2026:

• In high-demand zones (Athens, Thessaloniki, Mykonos, Santorini, and other areas designated by the government): minimum investment of €800,000 in a single residential property
• In other areas of Greece: minimum investment of €400,000
• Converted commercial-to-residential properties and historic building renovations: €250,000 in certain categories (subject to conditions — verify current rules)

Other qualifying investments: Greek Golden Visa is also available for investments in Greek company shares or bonds, Greek government bonds, capital contributions to Greek businesses, or investments in Alternative Investment Funds (AIFs) registered in Greece — minimum thresholds vary.

What the Golden Visa provides:

• A five-year residence permit for the main applicant, spouse, and dependent children under 21
• The right to travel within the Schengen Area
• Does not require physical presence in Greece (unlike many European residency permits) — the permit can be renewed without living in Greece full-time
• After seven years of legal residence with actual physical presence exceeding 183 days per year, permanent residency and eventually citizenship may become accessible — though the standard naturalisation period in Greece is seven years of actual residence

Important caveat: The Golden Visa does not automatically confer the right to work in Greece (a separate work permit is required), and the programme's rules — particularly the minimum investment thresholds — have changed several times in recent years. Always verify current requirements with a licensed Greek lawyer before proceeding.

Digital Nomad Visa (Law 4825/2021)

Greece introduced a Digital Nomad Visa allowing remote workers employed by non-Greek entities to reside in Greece for up to two years (renewable). Requirements include proof of remote employment or self-employment income from outside Greece, health insurance, and accommodation. Income requirements are relatively modest — verify current figures with the Greek consulate or a licensed immigration adviser.

Non-EU Retirees and Financially Independent Individuals

Greece does not have a dedicated passive-income or retirement visa equivalent to Portugal's D7. Non-EU retirees typically use the Golden Visa investment route or, in some cases, apply for the long-stay Type D visa on case-by-case grounds. EU pensioners with S1 forms (UK State Pension recipients) can access the Greek public healthcare system through the EOPYY network.

EU/EEA Nationals

Freedom of movement applies. Registration at the local Aliens and Immigration Service with proof of address and financial means.

The Non-Dom Flat Tax Regime

Greece introduced its non-domiciled (non-dom) tax regime in 2020. It is designed to attract high-net-worth individuals to relocate to Greece by offering a significant simplification of their Greek tax obligations on foreign-source income.

How it works:

• Applicants who have not been Greek tax residents for the previous seven of eight years can apply to be taxed under the non-dom regime
• Foreign-source income (income earned outside Greece) is subject to a fixed annual lump-sum tax of €100,000 per year, regardless of the amount of foreign income received
• Spouses and dependants can be added for an additional €20,000 each per year
• The regime lasts for 15 years

What is not covered: Greek-source income (income generated in Greece) remains taxed under standard Greek income tax rates. The non-dom regime applies only to foreign income.

For whom is this attractive? The non-dom regime is particularly compelling for individuals with substantial foreign investment income, dividends, rental income from overseas properties, or other foreign-source passive income. If your foreign income is more than approximately €300,000–400,000/year, a flat €100,000 tax is materially advantageous compared to standard progressive Greek income tax (which reaches 44% for high incomes).

Application: Apply through the Greek tax authority (AADE) with documentation of foreign income and prior non-Greek-residency history. A Greek tax adviser is essential.

Greek Income Tax (Standard)

For those not qualifying for or electing the non-dom regime, Greek income tax applies progressively:

• Up to €10,000: 9%
• €10,001–20,000: 22%
• €20,001–30,000: 28%
• €30,001–40,000: 36%
• Above €40,000: 44%

Regional and solidarity contributions have applied; verify current rates as these are subject to legislative change.

UK Tax Position

UK nationals must manage their UK Statutory Residence Test position, ensure they correctly establish UK non-residency, and comply with UK obligations on UK-source income (rental income, pensions, dividends). The UK-Greece Double Taxation Agreement prevents double taxation, but requires correct application of the treaty provisions.

Banking in Greece

Greek banking has been through a difficult period following the financial crisis but has stabilised significantly. The four systemic banks are Alpha Bank, Eurobank, National Bank of Greece (Ethniki), and Piraeus Bank.

Non-resident account opening in Greece requires:

• Valid passport
• AFM (Greek Tax Identification Number — Arithmos Forologikou Mitroou)
• Proof of address (home country and/or Greece)
• Source of funds documentation

The AFM is the Greek equivalent of Portugal's NIF — required for all formal transactions. Apply at the local tax authority (AADE / Eforia) with a passport.

Online banking in Greece is generally good; most banks offer English-language digital platforms.

Cost of Living

Greece is notably affordable by Western European standards, particularly outside Athens and the premium islands:

Athens

• Rent (1-bed apartment, central Athens): €600–1,200/month
• Rent (2-bed apartment, good neighbourhood): €900–1,800/month
• Eating out: Very affordable — taverna meal with wine €15–30/person
• Groceries: Lower than UK by a significant margin
• Transport: Good public transport; monthly pass approximately €30

Thessaloniki

• Greece's second city, a cultural hub; rental costs around 20–30% below Athens

Crete, Rhodes, Corfu (major islands)

• Premium properties and tourist areas are more expensive; off-season and local areas affordable

Mykonos, Santorini

• High-season premium lifestyle islands; off-season (October–April) significantly cheaper; year-round living community is small but present

Property Market

Athens and select coastal areas have seen significant property price growth since 2018. International buyers (particularly the Golden Visa market) have driven demand in Athens and the popular islands. As of 2026, prices in Athens' premium neighbourhoods (Kolonaki, Glyfada, Kifissia) have risen substantially from their post-crisis lows but remain below prices in comparable Western European cities. Island property varies widely.

Property acquisition costs in Greece include: Transfer tax (3%), notary fees, legal fees, and registration costs — total acquisition costs typically 8–12% of purchase price.

Healthcare

EU citizens access EOPYY (the national health payer network) through standard entitlements. Long-term residents with Greek tax registration can register for EOPYY cover. The public hospital system is functional but under-resourced; most expats use the private sector. Athens has good private hospital provision; Thessaloniki and the larger islands have private clinics. International IPMI is recommended for comprehensive cover.

Pre-Departure Checklist

• Obtain AFM (Greek tax number) — possible via a Greek accountant before arrival
• If pursuing Golden Visa: engage a Greek lawyer before committing to investment
• Assess eligibility for non-dom flat tax regime with a Greek tax adviser
• Notify HMRC of UK departure; obtain SRT assessment
• Open or retain UK bank account
• Arrange health insurance
• Confirm accommodation in Greece for residency permit application
• Open Greek bank account (once AFM is in hand)

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This guide provides general information only. Greece's Golden Visa thresholds, non-dom tax regime, and residency rules are subject to change. Always seek current professional advice from qualified Greek and home-country advisers. Information reflects the position as of 2026.

How Global Investments Can Help

Greece is a key market for Global Investments, with expertise spanning the Golden Visa process, property investment, non-dom tax planning, and the complete financial setup of life in Greece. Our advisers can guide you from initial assessment through to completion of your Greek residency.

Contact us to discuss relocating to Greece.