The Real Cost of a Greek Golden Visa

Most people assume that the Greek Golden Visa only costs the minimum investment amount—but that’s not the whole picture.

Yes, you need to invest in real estate or another approved asset.

But beyond that, there are government fees, legal costs, taxes, and other expenses that can significantly impact the total cost.

So, how much do you really need to budget for a Greek Golden Visa?

This guide breaks down every cost involved—from investment requirements to hidden fees—so you know exactly what to expect.

Let’s start with the minimum investment amount, which is the first and biggest expense.

Minimum Investment Amount: What You Need to Qualify

The biggest cost of the Greek Golden Visa is the investment itself.

This is the minimum amount you must commit to in order to qualify for residency.

But how much do you actually need?

1. Real Estate Investment Route: €250,000 or €500,000

If you’re applying through real estate investment, the minimum amount depends on the property’s location.

€250,000 Minimum – This applies to most regions of Greece, including Crete, Peloponnese, and many islands.
€500,000 Minimum – This applies to high-demand areas such as Athens, Thessaloniki, Mykonos, and Santorini.

This means that if you want to invest in a major city or a tourist hotspot, you’ll need at least €500,000 in eligible real estate.

But real estate isn’t the only way to qualify.

2. Alternative Investment Routes: €400,000 Minimum

If you don’t want to buy property, Greece offers other ways to invest, but they require a higher minimum amount:

Government Bonds – €400,000 investment in Greek government bonds.
Bank Deposit – €400,000 deposit in a Greek bank for at least 1 year.
Business Investment – €400,000 in Greek company shares, venture capital funds, or corporate bonds.

While these options don’t require managing property, they lock up your funds for a set period and don’t generate rental income like real estate can.

So, choosing the right investment depends on your budget, financial goals, and risk tolerance.

But investment isn’t the only cost.

Next, let’s look at the government fees and processing costs you’ll need to pay.

Government Fees and Processing Costs

Beyond the investment itself, every Greek Golden Visa applicant must pay mandatory government fees.

These cover the processing, approval, and issuance of your residence permit.

So how much does this add to the total cost?

1. Application Fee

Every main applicant must pay a €2,000 application fee when submitting their Golden Visa request.

If you’re applying with family members, each dependent (spouse, children, parents) has a separate fee of €150 per person.

For example:

Single applicant – €2,000
Family of four (main applicant, spouse, two children) – €2,450 (€2,000 + 3 x €150)

This fee is non-refundable, even if your application is rejected.

2. Residence Permit Issuance Fee

Once your Golden Visa is approved, you need to pay for the actual residence permit card.

This costs €16 per person.

It’s a small amount, but it’s still part of the overall budget.

3. Renewal Fees

The Greek Golden Visa is valid for five years, after which you need to renew it if you want to keep your residency.

Renewal fees include:

€2,000 for the main applicant
€150 per dependent

This means that if you plan to maintain your Golden Visa long-term, you should budget for renewal costs every five years.

How Much Do Government Fees Add to the Total Cost?

Family Size	Application Fees	Permit Fees	Renewal Fees (Every 5 Years)
Single Applicant	€2,000	€16	€2,000
Couple (Main Applicant + Spouse)	€2,150	€32	€2,150
Family of Four (Main Applicant + Spouse + 2 Children)	€2,450	€64	€2,450

While government fees aren’t as high as the investment itself, they are a necessary cost that must be factored into your overall budget.

Next, let’s break down legal, notary, and administrative costs, which can also add up.

Legal, Notary, and Administrative Costs

Applying for a Greek Golden Visa involves more than just paying government fees.

You’ll also need to cover legal services, notary fees, and administrative costs to complete your investment and residency application.

These costs aren’t fixed and can vary depending on your situation, but here’s what you should expect.

1. Legal Fees: Do You Need a Lawyer?

Hiring a lawyer isn’t legally required, but it’s highly recommended.

A lawyer will handle the application, ensure compliance with Greek laws, and speed up the process by avoiding common mistakes.

Legal fees typically range between €2,000 and €5,000, depending on:

The complexity of your application (single applicant vs. family application).
Whether you’re buying property or choosing an alternative investment.
Whether you need additional legal work, such as a power of attorney.

Some law firms charge a flat fee, while others charge a percentage of the investment value (usually 1% to 1.5% for property purchases).

2. Notary and Property Registration Costs

If you’re buying property, you’ll need to cover notary and registration fees, which are mandatory for all real estate transactions in Greece.

Here’s what to expect:

Notary Fees – Typically 1% to 1.5% of the property value.
Land Registry Fees – Usually 0.5% to 0.7% of the property value.

For example, if you buy a €250,000 property, these costs could total around €4,000 to €6,000.

3. Translation and Certification Costs

Since all documents submitted for the Golden Visa must be in Greek, you may need official translations and notarization for:

Passports and identification documents.
Investment proof (property contracts, bank statements, etc.).
Legal authorizations, such as a power of attorney.

Translation fees vary, but expect to pay €50 to €200 per document, depending on complexity and urgency.

How Much Do Legal and Administrative Fees Add to the Total Cost?

Service	Estimated Cost	Required for Real Estate Investors?	Required for Alternative Investors?
Legal Fees	€2,000 – €5,000	Yes	Yes
Notary Fees	1% – 1.5% of property value	Yes	No
Land Registry Fees	0.5% – 0.7% of property value	Yes	No
Translation & Certification	€50 – €200 per document	Yes	Yes

As you can see, real estate investors have slightly higher administrative costs, while alternative investors (bonds, bank deposits, business investments) mainly deal with legal and translation expenses.

Next, let’s break down taxes and hidden costs, which are often overlooked but can significantly impact your budget.

Taxes and Hidden Costs You Should Know

Beyond legal fees and government charges, there are taxes and additional costs that many applicants don’t factor into their budget.

These can significantly impact the total cost of your Greek Golden Visa, especially if you choose to invest in real estate.

Let’s break down what you need to be aware of.

1. Property Purchase Tax (If Buying Real Estate)

If you’re investing in real estate, you’ll need to pay a property transfer tax when purchasing the property.

3.09% of the property value – This is a one-time tax paid to the Greek government upon transfer of ownership.

For example, if you purchase a €250,000 property, the property tax will be around €7,725.

2. Annual Property Taxes (ENFIA)

Owning property in Greece means paying an annual real estate tax, known as ENFIA.

For most properties, ENFIA is typically €2 to €4 per square meter per year, depending on location and value.
A 100m² apartment could cost between €200 and €400 per year in property tax.

It’s not a huge expense, but it’s an ongoing cost that you’ll need to consider.

3. Banking Fees and Transaction Costs

Regardless of which investment route you choose, you’ll need to transfer funds to Greece, which may involve banking fees.

International wire transfer fees vary depending on the bank but can range from €20 to €100 per transaction.
Some Greek banks charge account maintenance fees for non-residents, typically €100 to €300 per year.

Additionally, if you’re purchasing real estate, banks may charge fees for currency conversion if you’re transferring funds in a currency other than euros.

4. VAT on New Properties (If Applicable)

If you purchase a newly built property (with a construction permit issued after January 1, 2006), there is a 24% VAT on the purchase price.

However, the Greek government has temporarily suspended this VAT until 2026.

This means if you buy a new property now, you won’t have to pay it—but if this suspension ends, VAT may become a major expense.

5. Other Unexpected Costs

While not required, some additional costs can come up depending on your situation:

Furnishing & Renovation – If you plan to rent out your property, you may need to furnish or upgrade it.
Property Management Fees – If you don’t live in Greece, you might hire a company to manage your property, which can cost 5% to 10% of rental income.
Travel Costs – If you visit Greece to complete your investment, factor in flights, accommodation, and living expenses.

How Much Do Taxes & Hidden Costs Add to the Total?

Cost Type	Estimated Cost	Required for Real Estate Investors?	Required for Alternative Investors?
Property Transfer Tax	3.09% of property value	Yes	No
Annual ENFIA Tax	€2 – €6 per m² per year	Yes	No
Banking & Transfer Fees	€20 – €100 per transaction	Yes	Yes
VAT on New Properties	24% (currently suspended)	Yes (if applicable)	No
Travel Costs	Varies	Yes	Yes

For real estate investors, property taxes and banking fees can add thousands of euros to the total cost.

Alternative investors don’t have to worry about property taxes but still need to factor in banking fees and potential currency conversion costs.

So, if you’re looking for the most cost-effective way to get a Greek Golden Visa, what’s the best option?

Let’s compare the different routes next.

What’s the Cheapest Way to Get a Greek Golden Visa?

By now, you’ve seen that the total cost of a Greek Golden Visa isn’t just about the investment itself.

There are government fees, legal costs, taxes, and other expenses that add up quickly.

But if you’re looking for the most cost-effective way to qualify, what’s your best option?

Comparing the Investment Routes

Let’s break down the main Golden Visa routes and see which one costs the least overall.

Investment Route	Minimum Investment	Additional Costs	Best for Those Who…
Real Estate (€250,000 areas)	€250,000	Property tax, legal fees, land registry	Want the cheapest option and a tangible asset
Real Estate (€500,000 areas)	€500,000	Higher purchase tax and fees	Want a prime location in Athens, Mykonos, or Santorini
Government Bonds	€400,000	Banking fees, legal fees	Prefer a low-risk, hands-off investment
Bank Deposit	€400,000	Banking fees, legal fees	Want liquidity and no property management
Business Investment	€400,000	Legal fees, transaction costs	Are comfortable with higher financial risk for potential returns

Which Option is the Most Affordable?

If minimizing costs is your priority, real estate in a €250,000 zone is the cheapest route.

Here’s why:

You only need €250,000, while all other routes require at least €400,000.
Ongoing costs like annual property tax and maintenance are manageable.
Unlike bank deposits or bonds, real estate can generate rental income.

For those wanting flexibility, the bank deposit or bond investment route can be a good alternative—though they require a higher initial investment.

But while cost is an important factor, there’s another question to consider:

Is the Greek Golden Visa actually worth the price?

Let’s take a final look.

Is the Greek Golden Visa Worth the Cost?

Now that we’ve broken down every investment requirement, fee, tax, and hidden cost, the big question remains:

Is the Greek Golden Visa worth what you pay?

For most investors, the answer is yes, and here’s why:

1. You Get EU Residency for a Fraction of the Cost

Compared to other European Golden Visa programs, Greece offers one of the lowest-cost residency options.

Portugal requires at least €500,000 for real estate (with stricter rules).
Spain also has a €500,000 real estate minimum, with high taxes.
Italy doesn’t even have a property investment option.

In contrast, Greece lets you qualify for just €250,000—making it one of the most affordable routes to EU residency.

2. No Residency Requirement

Many Golden Visa programs require you to live in the country for months each year. Greece doesn’t. You can:

Live anywhere you want—Greece or abroad.
Keep your tax residency in another country if you prefer.
Renew your visa indefinitely as long as you maintain the investment.

This makes it perfect for investors who want EU access without relocation.

3. It’s a Solid Investment, Not Just a Visa

Unlike other residency programs where your money is tied up in government fees, a Greek Golden Visa actually gives you a valuable asset.

If you choose real estate, you’re not just buying a visa—you’re buying property in a growing market that can:

Appreciate in value over time.
Generate rental income.
Be resold later, allowing you to recover your investment.

Even the non-property investment options give you access to government bonds, business shares, or bank deposits, meaning your capital isn’t just sitting there—it’s still working for you.

4. It Opens the Door to Citizenship

The Golden Visa itself doesn’t grant Greek citizenship.

But after 7 years, investors can apply for naturalization if they meet the residency and integration requirements.

For those looking for an EU passport in the long run, this can be an important stepping stone.

Is It Worth It?

For those looking for an affordable, flexible way to gain EU residency, the Greek Golden Visa is one of the best options available today.

Yes, there are fees and taxes, but the ability to live, travel, and invest freely in the EU makes the cost worthwhile for most applicants.

And if you need help navigating the process, having the right expert guidance can make everything much easier.

Need Help With Your Greek Golden Visa?

At Totsi, we guide investors through every step of the process—from choosing the right investment to securing your residence permit.

Get in touch today and let’s make your move to Greece simple.