In 2023, Greece became one of the popular destinations for immigration, and experts predict this trend will continue in the current year. Many seek the opportunity to move to a European country with a high standard of living, comfortable climate, and friendly population, to relocate their family and start their own business. According to Numbeo data, the cost of living in Greece is significantly lower compared to other European countries: expenses for a family of 4 (excluding rent) amount to about €2,770 per month. For comparison, in Italy, this sum is €2,990 per month, in the UK — €3,250. At the same time, Greece ranks 27th in the World’s Best Countries to Live In Rating.
One can legalize their status in Greece by obtaining a residence permit through one of several programs available in the country. A foreigner who has lived in the country with a residence permit for more than 5 years can apply for permanent residency, and then, under certain conditions, obtain Greek and EU citizenship.
How to get a residence permit in Greece? What are the pros and cons of immigrating to Greece? What local life peculiarities should one know before moving? How to move to Greece from Russia? We delve into these and many other questions in the Astons Greece blog.
Immigration to Greece: pros and cons of relocation
Greece is a European country with a mild warm climate, picturesque nature, and a wide range of opportunities. A Greek residence permit holder gains numerous advantages:
- The ability to legally live in Greece, as well as enter and exit the country without restrictions, even when borders are closed;
- The possibility to bring family members — spouse and children;
- The opportunity for visa-free travel to Schengen Agreement countries;
- The ability to use local and international banking services: open accounts, access favorable deposit conditions and preferential lending;
- The opportunity to conduct business and engage in entrepreneurial activities, with free access to international markets;
- The ability to optimize tax burden;
- Access to local healthcare and prestigious education;
- Access to social benefits and allowances;
- The ability to work officially (if your residence permit provides this right);
- The opportunity to obtain permanent resident status after 5 years, allowing indefinite legal residence in the country, and after another 2 years — to obtain a Greek passport and become an EU citizen;
- Life in a country with a mild Mediterranean climate, low crime rate, hospitable population, and — importantly — relatively low prices for products, goods, and services.
Of course, moving to the country and living in Greece is not just about advantages: there are also drawbacks. The main problem an expat in Greece may face is typically the not-so-stable economy: the country still feels the consequences of the 2008 global financial crisis. Due to this, Greece has a rather high unemployment rate: compared to other European countries — in 2024 it reached 10.9%, and among youth — over 25%. Finding stable work with a high salary is quite difficult for a foreigner, so it’s common to encounter digital nomads or businessmen who have their business abroad and receive passive income. However, the real estate market has already recovered and not only returned to pre-crisis figures but exceeded them.
How to get to Greece? Ways to obtain a Greek residence permit in 2024
A residence permit is a legal status allowing a foreigner to legally reside in the country for an extended period. In Greece, the grounds for obtaining a residence permit are established in Law No. 4251/2014 of the Immigration and Social Integration Code. Let’s examine the existing types of residence permits and conditions for obtaining them.
Family Reunification Residence Permit
Any Greek citizen, or a foreigner legally residing in Greece for 2 years or more, has the right to apply for a residence permit for their close relatives — spouse, children under 21, and parents. The applicant wishing to bring their family must be able to prove kinship and show ownership or rental of property. It will also be necessary to confirm the ability to financially support the invited family members: the inviting party must have a salary exceeding the country’s minimum level, plus 20% for each adult family member, and 15% for each minor child.
The minimum wage in Greece in 2024 is €910.
The validity period of the residence permit issued to family members cannot exceed the validity period of the main applicant’s status. This type of residence permit does not automatically grant the right to work for adult family members — a separate work permit will need to be obtained.
Student Visa Residence Permit
Any foreigner admitted to a Greek university and having sufficient means to live in Greece for the entire study period can legalize their status in Greece. A student residence permit is issued for 1 year and can be extended by confirming continued studies and financial well-being. Students with this type of residence permit have the right to work only part-time and only with the agreement of the educational institution. Time spent in Greece with a student residence permit does not count towards the required period of residence for obtaining permanent residency and citizenship, so it’s better to choose other options as a way to move to Greece permanently.
Employment-based Residence Permit
A residence permit through employment is not the most popular way to move to Greece: primarily due to the tense situation in the labor market and high unemployment.
The most in-demand areas in Greece are tourism, services, and agriculture. Specialists in engineering and construction, programming, and IT are no less in demand — but in this case, applicants will have to not only pass an interview with the employer but also prove the necessary qualifications and skills, as well as proficiency in English or Greek.
Nevertheless, official work can be a basis for obtaining a residence permit in Greece: it’s enough to present an employment contract and an official invitation from a Greek company along with the main documents to the Greek consulate in the country of residence, and obtain a D visa for relocation. The residence permit is issued for a year with the possibility of extension, but in any case, is limited to the duration of the employment contract.
Business Immigration
Business people opening a branch of their company in the country, as well as independent entrepreneurs, can obtain a residence permit in Greece. In the first case, it’s necessary to have an already functioning company in another country — sufficiently developed to open an international branch. It’s important to remember that maintaining an active branch will be required to maintain resident status. In the second case, it will be necessary to provide evidence of financial means to open a new business (from €600,000), a current business plan, as well as confirmation of the feasibility of opening the company, along with the standard package of documents. It’s best to choose a business that will contribute to the development of priority areas of the economy or will have interest and benefit for a specific region of Greece. The residence permit is issued for 2 years and can be extended for similar periods, provided the company functions successfully.
Residence Permit for Financially Independent Persons and Retirees
Like many other European countries, Greece provides an opportunity for legalization to foreigners with confirmed income received from foreign passive sources. To obtain such a residence permit, it will be necessary to confirm stable income of at least €2,000 per month per person, plus 20% for the spouse of the main applicant and plus 15% for each child. A tax declaration, or a statement from a local bank account, or pension accruals, or a property rental agreement will suffice. It’s also necessary to confirm the availability of real estate — rented or owned, and have medical insurance. The status is valid for 2 years, with the possibility of subsequent extension. An important point: it’s forbidden to work officially in Greece with this type of residence permit, but you can receive passive income (for example, by renting out real estate), or acquire a ready-made business or invest in an existing company and receive income from share ownership.
Residence Permit for Digital Nomads
This status is similar to a residence permit for financially independent individuals: a foreigner who is not an EU citizen and plans to move to the country must confirm official employment with a foreign company that provides for remote work and earnings of at least €3,500 per month per person. The status is also issued for 2 years with the possibility of extension and prohibits working and conducting business in Greece, even in a remote format. It is mandatory to spend at least 180 days a year in the country.
Residence Permit for Refugees
Upon arrival in Greece, you must contact any police department and provide evidence that returning to your home country is currently impossible. During the review period — from 3 months to a year — the foreigner is issued a temporary document allowing them to stay in Greece until the status is granted. If the application is approved, a residence permit for refugees is issued for 5 years, and extension is possible if the threat upon return to the home country persists; during the validity of the status, the refugee is provided with housing, free meals, and the opportunity to find employment. After 10 years, one can apply for Greek citizenship.
Residence Permit for Investors
The Greek government is interested in attracting foreign investments into the country’s economy, so foreign investors willing to invest at least €400,000 are granted a residence permit for 2 years with the right of subsequent extension. The main condition that must be met: the investments made should have a positive impact on the development of Greece’s economy. Investments can be made in shares of state-owned companies and enterprises traded on the local stock market; shares of Greek companies operating only in the local market; in government bonds — for at least 3 years until maturity, or the amount can be deposited in a fixed-term deposit for at least 1 year in a state bank. Besides the investor’s family members, a residence permit can be issued for the executives of the investment project who plan to manage it in Greece — up to 10 people.
Residence Permit for Real Estate Purchase — Greece’s “Golden Visa”
The Greek “Golden Visa” program has been successfully operating since 2013 and is one of the most popular and accessible immigration programs in Europe. A residence permit for 5 years can be obtained for the investor and their family within 3-5 months when purchasing real estate worth at least €250,000 or €500,000 in the most developed regions of the country – Greater Athens (most districts), Thessaloniki, Mykonos, and Santorini. This type of residence permit does not require fulfilling any residency conditions in Greece — neither before nor after obtaining the status, and does not check the source of financial funds. The “Golden Visa” does not grant the right to employment in local companies but is one of the most convenient options for moving to Greece with children.
The requirements for the applicant are minimal: over 18 years of age, no criminal record, and a medical certificate confirming the absence of infectious diseases. One can purchase either a single property or several properties for the specified amount; additionally, the property can be rented out, generating dividends of 5-7% annually. The “Golden Visa” program answers the question, “How to move to live in Greece?”
Another undeniable advantage for foreigners who have invested more than €500,000 is the possibility to use the Non-Domicile tax regime, reducing the tax burden for the next 10 years to a single payment of €100,000 per year.
From March 31, 2024, Greece has made changes to the program for obtaining a residence permit for real estate investments. Now, the minimum participation threshold in the program has increased to €800,000 in the Attica region, Thessaloniki, Santorini, and Mykonos. In other regions, the property must be worth at least €400,000. The minimum threshold of €250,000 is retained for buildings of historical value, provided the investor restores them at their own expense, and for commercial properties that are converted into residential under the investment residence permit program.
The good news is that a transition period is currently in effect: investors who pay a 10% down payment for the property by August 31, 2024, and complete the investment by December 31, 2024, can still obtain the “Golden Visa” under the old conditions: with a threshold of €500,000 for property in 36 municipalities and €250,000 in all other regions of the country.
Documents Required for Residence Permit Application
To obtain a Greek residence permit on any grounds, the following package of documents is required:
- Completed application form;
- Valid passport;
- 2 photos (3.5×4.5 cm);
- Certificate of no criminal record in the country of residence;
- Medical certificate confirming good health and absence of infectious diseases;
- Health insurance with coverage of at least €30,000;
- Lease agreement for property in Greece or proof of ownership of property;
- Documents confirming the grounds for obtaining a residence permit: university enrollment certificate, employment contract, invitation from a close relative, etc.;
- Documents of family members included in the application: passports, children’s birth certificates, marriage certificate, etc.;
- Receipt of payment of the state fee.
- Proof of the required level of income and financial stability;
During the process, consulates and migration services may request additional documents to clarify necessary information. Preparing an immigration package is a labor-intensive process that requires careful and serious attention; therefore, it would be beneficial to consult immigration specialists for Greece: this way, you can avoid mistakes and save time.
Requirements for Residence Permit Applicant and Conditions for Moving
The list of requirements for investors participating in the Greek “Golden Visa” program is small. The applicant must:
- Be an adult;
- Have no criminal record;
- Have no legal issues or restrictions under Greek and EU immigration law, and not pose a threat to national security;
- Have a certificate from a Greek medical institution confirming good health and the absence of infectious and severe diseases.
Greece’s Golden Visa Program is currently not accepting applications from citizens of Russia and Belarus. However, there is an option for Russians to obtain a residence permit in Europe: it is necessary to obtain an alternative citizenship of a neutral country — for example, a Vanuatu passport. Given the changes in the immigration program, you can manage to obtain Vanuatu citizenship (which takes 3-5 months) and Greece’s residence permit during the transition period: down payments for real estate are accepted from Russian passport holders, and the second passport will be needed when submitting documents for the residence permit application.
The Process of Obtaining Greece’s Golden Visa for Investment
It is best to process Greece’s Golden Visa through specialists: while it is not formally prohibited to do it independently, in practice it is almost impossible. A licensed lawyer who knows all the nuances of immigration law will help prepare the documents correctly, make requests to the relevant authorities, and select reliable and verified real estate, saving your time and nerves.
Step 1. Selection of Real Estate and Making Investments. This can be done remotely — it is enough to issue a power of attorney to represent your interests and the right to conduct transactions to a lawyer who will handle your application.
Step 2. Preparation of Documents for Submission to the Greek Embassy for Residence Permit.
Step 3. Submission and Review of Documents. The review period is 60 days. After processing the application, the investor receives official confirmation, based on which they can enter and exit Greece for a year.
Step 4. Trip to Greece for Biometrics.
Step 5. Obtaining a Resident Card.
Extension of Residence Permit and Path to Greek Citizenship
The obtained residence permit can be extended if the grounds on which it was issued are still valid. The application for extension must be submitted to the municipality of residence two months before the residence permit expires. Along with documents confirming the grounds for extending the status and the application, you will need to provide a passport, valid health insurance, proof of financial stability, and residence registration.
After 5 years of residence in Greece with a residence permit, you can obtain permanent residence (PR), and after another 2 years, you can apply for Greek citizenship. Spouses of Greek citizens can obtain a passport through a simplified procedure — after 3 years. A mandatory condition for obtaining a Greek passport is passing an exam on the Greek language at the B1 level, as well as knowledge of history, culture, customs, and social norms.
Golden visa holders are not required to reside in Greece to maintain their residence permit status. However, to obtain PR and citizenship, residency conditions must be met: you cannot leave the country for more than 6 months in total and more than 10 months over the entire period.
Greece recognizes dual citizenship, so you do not have to give up your first passport. Moreover, since Greece is part of the European Union, a Greek passport automatically makes its holder an EU citizen with all the accompanying benefits.
Immigration to Greece: Features and Specifics
When planning a move to another country, it is useful to find out more about what life will be like in a particular region and city: this will help avoid unpleasant surprises associated with immigration and adapt to life in a new place faster. When choosing a city and deciding how to move to Greece, determine your goals and plans: Athens, Thessaloniki, and other major cities have excellent infrastructure, but life here is more expensive compared to the periphery.
Moving to a New Country: Do You Need to Learn the Language?
Of course, you can move to Greece without knowing the Greek language even at a minimal level — situations vary, and in recent years, moves often happen in a short time frame, leaving no time for language study or other preparation. Immigration to Greece is a fairly common decision for Russians, so in major cities — in Athens, Thessaloniki — and on the islands, there are large Russian-speaking communities. And, of course, the locals speak English quite well. However, the further from tourist routes, the harder it will be to communicate: in small towns and villages, locals only speak Greek. Therefore, when planning a move, it is better to take language courses; there are quite a few in Greece, with programs tailored to different budgets, needs, and opportunities — improving your existing knowledge will not be difficult.
Employment
Finding a job in Greece is easiest in the tourism, agriculture, and shipping sectors during the season. The situation with high-paying jobs is more complicated: Greece has one of the highest unemployment rates in Europe at nearly 11%, and among youth — 25%. Getting a good job with a high salary will be helped by in-demand education, work experience, skills, as well as certificates of advanced training and additional courses. Knowledge of English is likely to be insufficient — even service staff must speak Greek at least at a basic level. For peace of mind, it is better to have passive income or remote work with a foreign company.
Healthcare
Greek public healthcare is funded by insurance contributions and taxes. Emergency assistance is provided to all residents, regardless of insurance, but diagnostics, therapy, and surgical assistance along with free medicines can only be obtained with a policy. Unfortunately, the public healthcare system is currently not in the best condition. The consequences of the crisis, which have not yet been fully overcome, result in long queues, a shortage of specialists, and a lack of resources.
The work of private clinics and hospitals is much better: most of them are equipped with the latest equipment, provide a wider range of services to patients, and the waiting time for a consultation with the required specialist is about a week. Therefore, most Greeks and foreigners prefer to arrange private health insurance: basic services cost €300-€400 per year.
Kindergarten and School
Children go to kindergarten from the age of 2.5: before this age — only private nurseries, as there are no public nurseries in Greece. It is quite difficult to get into a kindergarten due to long queues, so it is better to submit documents in advance. From the age of 5, a child must be enrolled in the nearest kindergarten, as one year of preschool education is mandatory.
From 6 to 15 years old, children must attend school: secondary education lasts 9 years and is compulsory. Public schools teach in Greek — with a residence permit, the child has the right to free education. Language skills can be improved through numerous language courses; there are also private schools where classes are held in English and Russian.
After the 9th grade, you can go to college to get a specific profession, or to lyceum (lykeio), where education is aimed at preparing for university admission. You can read more about the Greek preschool and secondary education system in our material.
Cost of Living
Living in Greece will cost slightly less than in other European countries, although it largely depends on where you plan to move and your lifestyle. Expenses for one person, excluding rent, average €800 per month, for a family of four — about €2,770 per month.
Rental prices for real estate can vary greatly depending on the location: in Athens and major tourist centers, a one-bedroom apartment will cost €600-€900 per month or more, and in small towns, a similar one can be found for €200-€350.
Utility bills for an apartment up to 85 sq.m., on average, will be about €200 per month, including heating, electricity, water, and garbage collection.
Climate
Greece mainly has a mild Mediterranean climate. Winters here are warm and humid, with temperatures rarely dropping below +10°C, and snow mainly falling in the mountains. In summer, temperatures rise to +35-40°C, and rain is rare. The best weather, according to the Greeks, is the velvet season in September-October when the air temperature and water temperature become almost the same.
Mentality
Greece is a country with friendly and welcoming residents: they love to communicate and have fun, not forgetting about rest and entertainment. Greeks are loyal and open to newcomers if they respect their traditions and customs. Greeks do not know how to envy and boast about achievements or wealth: simplicity, generosity, and optimism are their main qualities.
The pace of life in Greece is quite leisurely: locals do not make a tragedy out of small delays, so lovers of punctuality will have to get used to the afternoon siesta and systematic delays, especially in government and social institutions. Of course, this does not apply to tourism and service: during the season, the speed of work is very important. Nevertheless, many immigrants quickly adapt to the local rhythm and enjoy the leisurely and relaxed lifestyle.
And, of course, some clichés known worldwide have their basis: Greek families are indeed very large, sometimes it seems that in one village or small town everyone is distant relatives. Greeks love olive oil, olives, feta, oregano, and lemon juice — almost any dish contains at least one of these products. Also, Greeks very rarely use the phrase “I don’t know”: a Greek will definitely find something to say to almost any question.
Greece is a wonderful country for rest, travel, and living: here, visitors will find hot sun, clean beaches, and clear sea water, ancient history, cultural and architectural monuments, friendly locals, and a unique atmosphere. Many tourists, once they come to this country for a vacation, dream of staying here to live and start planning their move when they return home.
Astons can help with obtaining a Greek residence permit for real estate investments — contact our experts for a free consultation.