Greece Golden Visa vs Financially Independent Person Visa

Greece offers two main visa options for non-EU citizens seeking residency: the Golden Visa, which grants residence through investment, usually in real estate, and the Financially Independent Person (FIP) Visa, designed for those who can support themselves without working in Greece, such as digital nomads. Both visas provide access to Greece and the Schengen Area, making them attractive for investors and remote workers. The Golden Visa is ideal for those looking to invest and gain residency, while the FIP Visa is more suited for individuals with passive income or remote jobs.

What is the Greece Golden Visa Program?

Launched in 2013 under Law 4251/2014, the Golden Visa grants a 5-year renewable residency permit to non-EU citizens through investments starting at €250,000.

Key Features:

• Investment Options: Real estate (€250,000–€800,000 depending on location), government bonds (€500,000), bank deposits (€400,000), or startup investments (€250,000, introduced in 2024).
• No Minimum Stay: No requirement to live in Greece to renew the permit.
• Family Inclusion: Spouse, children under 21 (extendable to 24 if students), and dependent parents.
• Schengen Access: Visa-free travel in the Schengen Area (90 days in 180).
• Citizenship Path: Eligible after 7 years of residency with Greek language and cultural tests.

Benefits:

• Affordable entry compared to other EU investment programs.
• Access to Greece’s education, healthcare, and Mediterranean lifestyle.
• Potential rental income from real estate (long-term rentals only).

The Greece Golden Visa program has been updated to reflect the growing demand for residency by investment. Real estate thresholds have increased to €800,000 in prime locations such as Athens, Mykonos, and Santorini, while remaining at a more accessible €400,000 in other regions. In addition, investors now have the opportunity to qualify through startup investments, opening the door to innovation-driven residency options.

Please be reminded that laws may change, and readers should verify the information before starting the process.

What is the Greece FIP Visa?

Introduced under Law 4605/2019, the FIP Visa, also known as the Digital Nomad Visa, enables non-EU citizens to reside in Greece without the need for employment or investment. Applicants must simply demonstrate sufficient and stable income to support themselves while enjoying the benefits of living in Greece.

Key Features:

• Financial Requirement: Proof of €3,500 monthly income (after taxes) from sources outside Greece (e.g., pensions, investments, remote work). Add 20% for a spouse, 15% per child.
• Residency Permit: Permit valid for a minimum of 1 year, renewable if financial conditions are met.
• Required Minimum Stay: May stay outside of Greece for no more than six months per year.
• Family Inclusion: Spouse and dependent children (typically under 21).
• Schengen Access: Visa-free travel in the Schengen Area (90 days in 180).
• Citizenship Path: Possible after 7 years of residency, requiring Greek language and integration tests.

Benefits:

• No large investment required, ideal for digital nomads and retirees.
• Flexible for remote workers earning income abroad.
• Access to Greece’s affordable lifestyle and Schengen mobility.

Applicants must not work for Greek employers; remote work for foreign employers is permitted.

Greece Golden Visa vs. FIP Visa: Key Differences

The Golden Visa requires a significant upfront investment but offers longer residency and broader family inclusion, while the FIP Visa is more accessible for those with stable passive income or remote work earnings.

Comparison Table:

Benefits and Drawbacks

The main advantages of the Greece Golden Visa include:

• Low investment threshold (€250,000 for startups or heritage properties).
• No residency requirement, ideal for non-relocating investors.
• Potential rental income (3–4% annual yields) and property appreciation.
• Includes parents in family sponsorship.

The main disadvantages of the Greece Golden Visa include:

• High investment in popular areas (€800,000).
• No employment rights; business ownership permitted.
• Restrictions on short-term rentals (e.g., Airbnb banned in some areas).

The main advantages of Greece FIP Visa comprise:

• No large investment; only proof of income (€24,000/year).
• Ideal for digital nomads, retirees, or those with passive income.
• Faster processing (3–6 months).
• Schengen travel and flexible lifestyle.

The main disadvantages of the Greece FIP Visa include:

• No local employment allowed; income must be from abroad.
• Shorter residency permit (from 1 year vs. 5 years).
• Limited family inclusion (no parents).

Contact our specialists to learn more about the benefits!

Tax Implications

By offering a range of tax benefits, including a non-dom tax regime and favorable property taxes, both the Greece Golden Visa and FIP Visa programs are appealing options for investors seeking tax efficiency.

Greece Golden Visa tax benefits:

• Non-Dom Tax Regime: Optional €100,000 annual flat tax on global income for investors with €500,000+ in Greek assets.
• Property Taxes: 0.1%–1.6% annually; 3.09% transfer tax on real estate.
• Rental Income Tax: 15%–45% (progressive).
• Double Taxation Treaties: With 50+ countries to avoid double taxation.

FIP Visa tax advantages:

• Tax Status: Taxed as non-residents if spending <183 days/year in Greece; income from abroad may be exempt under treaties.
• You must not have been a tax resident of Greece for 7 out of the last 8 years.
• The Non-Dom regime is available for the following categories:
  • Foreign retirees — a 7% flat tax on foreign income for 15 years;
  • Business professionals and official employees — 50% exemption from tax on Greek-sourced income for 7 years.

Who Should Choose Which Program?

Greece Golden Visa:

• Ideal for investors with capital to invest in real estate or startups.
• Suited for those seeking long-term residency without relocating.
• Best for families wanting to include parents and access Schengen mobility.

Greece FIP Visa:

• Ideal for digital nomads, retirees, or those with stable passive income.
• Suited for individuals prioritizing low-cost residency without investment.
• Best for those working remotely for foreign employers.

When choosing between the Greece Golden Visa and FIP Visa, consider factors such as your budget, investment capacity, income stability, family needs and long-term residency goals.

Contact our immigration experts to assess which program aligns with your financial and lifestyle goals!

Conclusion

The Golden Visa suits investors with capital for real estate or startups, offering a 5-year permit and broader family inclusion.

The FIP Visa is ideal for financially independent individuals, requiring only proof of income and offering a low-cost, flexible residency option.

Astons specializes in securing Golden Visas through property investment, delivering tailored solutions for global investors. Recognized as the Best Real Estate Agency in Greece 2024, we combine award-winning expertise with exclusive property access to streamline your path to residency. Start your Golden Visa journey with Astons today!