Golden Visa through real estate construction in Greece: an investor's guide

Opportunity to obtain a Golden Visa through construction

Obtaining a Golden Visa through real estate construction in Greece is a legal pathway for foreign investors. The process involves purchasing a plot of land, signing a construction contract for a residential property, and fulfilling the statutory requirements to apply for a five-year residence permit.

It is important to note that the program does not grant residency solely for paying construction costs. The investor must become the full owner of the plot and the completed property, verify the legality of the construction process, and document that the investment volume meets the program’s requirements.

Investment thresholds

The minimum investment amount depends on the region where the property is located:

• 800,000 euros: Attica, Thessaloniki, Mykonos, Santorini, and islands with a population of over 3,100 (including Crete).
• 400,000 euros: other regions of Greece.
• 250,000 euros: for special cases, such as converting commercial property into residential or restoring protected historical buildings.

The deal structure must be agreed upon with a specialized lawyer and notary before purchasing the plot and starting construction to ensure the property meets the program’s requirements.

Required documentation

To apply for a residence permit through construction, the following documents are typically required:

• Land purchase agreement.
• Construction contract.
• Official building permit.
• Invoices and proof of payment for construction works.
• Property title registration documents.
• Proof of meeting the established investment threshold.

The Greek Ministry of Migration allows the submission of a document package including the land purchase agreement, construction contract, permit, and contractor invoices. Each project is reviewed on an individual basis.

Advantages and risks

Advantages

Construction allows the investor to tailor the property to a specific strategy: choosing the size, number of bedrooms, presence of a pool and parking, as well as controlling the budget and selecting locations with high growth potential.

Risks

The main risks are related to site selection and administrative procedures. Before starting work, it is critical to verify:

• Land zoning and plot boundaries.
• Availability of access roads.
• Absence of forestry and archaeological restrictions.

Errors at the planning stage can lead to delays in obtaining permits or budget overruns.

Professional support

AILIT Group provides comprehensive services, combining site selection, design, construction, and legal support for investment projects.

• Explore ready-made solutions in the AILIT Group project catalog.
• Learn more about project management in the real estate construction in Greece section.

Conclusion

Obtaining a Golden Visa through construction is an effective tool that requires careful preparation. The legal structure of the deal must be confirmed by a Greek lawyer and notary before making major payments to ensure the final investment meets the program’s requirements.