Invest in Greece: Best Ways to Make the Most of Your Money

Investing in Greece presents an attractive opportunity, combining a rich history with modern economic potential. The Greek economy shows steady growth, and the country’s strategic location, government incentives, and emerging sectors make it an appealing destination for global investors.

Whether you are interested in the robust real estate market, renewable energy projects, or the thriving tourism sector, Greece offers diverse opportunities within a pro-business environment.

This guide explores the advantages, challenges, and practical steps for investing in Greece. It aims to help you navigate the legal framework and maximize your investment in this vibrant country, strategically positioned at the crossroads of Europe, Asia, and Africa.

Why consider investing in Greece?

Investing in Greece presents high potential returns and strategic advantages, offering diverse opportunities for investors with the right approach and thorough market understanding.

Economic recovery and growth prospects

Greece has been undergoing a steady recovery since the economic crisis of the early 2010s. The economy has shown signs of robust growth, supported by strong tourism, a rise in exports, and a healthy shipping sector. International investors are increasingly seeing the potential in Greece’s markets, driven by improvements in economic stability and policy reforms that foster a more business-friendly environment.

Strategic location and infrastructure

Greece’s strategic location at the crossroads of Europe, Asia, and Africa makes it an attractive hub for businesses looking to expand their reach. The country boasts a modern infrastructure, including major ports, airports, and a reliable road network, which facilitates easy access to the rest of the European Union and beyond. Investing in Greece provides a gateway to the broader European market and the growing economies of the Balkans and Eastern Europe.

Investment incentives and government policies

The Greek government has introduced various incentives to encourage foreign investment. These incentives encompass tax breaks, subsidies, and expedited procedures for large-scale projects. The Greek Golden Visa program, which grants permanent residency to non-EU citizens who invest in real estate, is especially sought after. This initiative not only stimulates the Greek property market but also grants investors access to the Schengen Zone, thereby increasing their freedom of movement within Europe.

Emerging sectors and opportunities

Several sectors in Greece are ready for investment, including tourism, renewable energy, technology, and real estate. The Greek real estate market offers various opportunities, from residential properties to commercial real estate. Additionally, sectors such as agriculture, food processing, and pharmaceuticals are experiencing growth, driven by both domestic demand and export potential. The ongoing digital transformation across industries also creates opportunities for technology and innovation investments.

How to Invest in Greece

For investing in Greece, it’s important to have a good understanding of the local legal and regulatory framework such as property laws, business regulations, and tax obligations. It will also be helpful if you are aware of all the investment options available, and which specific legal requirements non-EU investors need to meet.

Greece Golden Visa

The Greece Golden Visa program was introduced by the Greek government in 2014 to boost the Greek economy. It is a residency-by-investment scheme that allows non-EU/EEA nationals and their family members to obtain permanent residence permits in Greece. The program has been one of the most successful investment programs in Europe.

To qualify for the Greek Golden Visa program, applicants must have a clean criminal history and make an investment in Greece with a minimum value of €400,000.

The government changed the rules for real estate investing in early 2024, with a minimum of €800,000 being implemented for regions including the entire Administrative Region of Attica, Thessaloniki, Mykonos, Santorini, and islands with populations exceeding 3,100. The €400,000 minimum investment applies to the rest of Greece and these investments are restricted to single properties with a minimum of 120m².

If you want to invest in commercial property with the aim of converting it into habitable real estate, the minimum investment is €250,000, applicable irrespective of the property’s location or size.

The conversion needs to be completed before applying for the visa. As part of the new regulations, the government also stipulates that golden visa properties can’t be used for short-term rentals like AirBnB or as registered company headquarters.

After holding the visa for seven years, the holder can apply for Greek citizenship through naturalization. To be eligible, the applicant must have continuously resided in Greece for at least 183 days per year for each of the seven years. Additionally, applicants must demonstrate fluency in the Greek language.

Other Investment Options

The golden visa scheme is the best for investments in Greece, but if you don’t want to tie your money up in property, several other options can yield the same results.

Capital contribution

You can invest at least €400,000 in a Greek registered or operating company (excluding portfolio and real estate investment firms). This investment can be used to acquire shares during a capital increase, or bonds listed on regulated markets or multilateral trading platforms in Greece.

Another option is to invest at least €400,000 in a real estate investment company focused exclusively on Greece, specifically for acquiring shares in a share capital increase. You can also invest a minimum of €400,000 in a closed-end investment company or a closed-end mutual fund, provided that these entities exclusively intend to invest in companies based or established in Greece.

Share, corporate bonds, or government bonds

You can acquire shares or corporate bonds with a minimum investment of €800,000. These securities should be listed for trading or actively traded on regulated markets or multilateral trading platforms in Greece.

You can also invest in Greek government bonds with a minimum investment of €500,000 and a remaining maturity of at least three years at the time of purchase. This investment should be facilitated through a domestic credit institution established in Greece, which will also act as the custodian for these bonds.

Another option is to invest €350,000 in units from a mutual fund incorporated in Greece or another country, with the explicit purpose of exclusively investing in shares, corporate bonds, and/or Greek government bonds listed for trading or actively traded on regulated markets or multilateral trading platforms in Greece.

Lastly, you can acquire units or shares with a minimum value of €350,000 from an alternative investment fund established in Greece or another EU country, dedicated exclusively to investments in immovable property within Greece.

Capital transfer

A fixed-term deposit of at least €500,000, held in a Greek bank account or another national credit institution, maintained for a minimum of one year with an automatic renewal arrangement in place.

General Steps to Investing in Greece

Investing in Greece requires a strategic approach, encompassing thorough research, legal compliance, and financial planning. Here are some of the essential steps to ensure a successful investment, from understanding the legal framework and conducting due diligence to securing financing and executing your investment strategy.

Research and Due Diligence: Understand the market dynamics, identify potential investment opportunities, and assess risks.

Legal and Financial Advisory: Engage with local legal and financial advisors to navigate regulatory requirements and optimize tax implications.

Investment Structure: Decide on the structure of your investment, whether through direct acquisition, joint ventures, or other financial instruments.

Property Purchase: For real estate investments, ensure all legal documentation is in order and consider employing a notary to oversee transactions.

Business Setup: For business investments, register the company, obtain necessary licenses, and comply with local employment laws.

Financing: Secure financing through local or international banks, venture capital, or government grants.

Financing Your Investment in Greece

In Greece, investors have access to a variety of financing options to support their investment projects. Bank loans from both local and international banks offer competitive terms, particularly for real estate and business investments, with some banks providing specific products tailored for international investors.

Additionally, various EU funding programs and grants are available for projects in sectors such as renewable energy, technology, and agriculture, aiming to boost economic development and innovation. The Greek government also provides incentives, including grants and subsidies, for investments in strategic sectors through initiatives like the Investment Incentives Law.

Moreover, Greece’s venture capital and private equity market is emerging, with funds focusing on startups and expanding businesses in high-growth areas such as technology and renewable energy. The Golden Visa program offers another financing avenue, allowing non-EU investors to obtain residency by investing in real estate, which can also provide access to favorable financing options through local banks.

Lastly, crowdfunding and alternative financing platforms are becoming increasingly popular, offering another route for raising capital, especially for innovative and smaller-scale projects.

Challenges and Considerations

Investing in Greece presents numerous opportunities, but it also comes with specific challenges that investors should consider.

Bureaucracy and Regulatory Complexity: Navigating Greece’s bureaucratic processes can be time-consuming and complex. Investors may encounter delays and administrative hurdles in obtaining permits and approvals, which can slow down investment projects.

Economic Volatility: Although Greece has made significant strides in economic recovery, residual volatility and uncertainty remain. External economic shocks or internal fiscal issues could impact investment returns and economic stability.

Property Rights and Legal Issues: Securing clear property titles can be challenging due to historical land ownership disputes and unclear zoning regulations. This can complicate real estate transactions and increase legal risks.

High Taxation and Compliance Costs: Greece has relatively high taxes on property and income, which can affect the profitability of investments. Additionally, the cost of compliance with local tax laws and regulations can be significant, particularly for foreign investors unfamiliar with the Greek tax system.

Infrastructure and Service Quality: While major urban centers like Athens have well-developed infrastructure, some regions may lack modern amenities and services. This can affect the attractiveness and viability of investments, especially in rural or underdeveloped areas.

How Can Global Citizen Solutions Help You?

Global Citizen Solutions is a boutique migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments. 

We guide you from start to finish, taking you beyond your citizenship or residency by investment application. 

Frequently Asked Questions About Investing in Greece