Greece’s Golden Visa 2025: Startup Investments Now Eligible
Learn moreNovember 8, 2024
Greece has long been a sought-after destination for retirees. For those looking to make Greece their permanent retirement destination, there are specific visa paths available depending on your nationality and personal circumstances. This article provides an in-depth guide for retirees from both EU and non-EU countries on how to navigate the visa process and helps to understand the requirements for obtaining a retirement visa in Greece.
For many retirees, Greece offers a unique blend of ancient history, cultural richness, mild climate, and affordable living. With its laid-back Mediterranean lifestyle, retirees can enjoy a peaceful yet engaging life. The country's diverse landscapes, from mountains to islands, allow for various leisure and lifestyle options all year-round.
Greece provides several residency options for retirees, with programs tailored for both EU and non-EU nationals. Each program has specific requirements, duration limits, and benefits, offering flexibility based on budget, residency goals, and lifestyle preferences.
For EU citizens, the retirement visa process is relatively straightforward. As part of the European Union, Greece allows EU retirees to transfer their tax residency to Greece with ease. The key step is obtaining the EU Residency Card.
For a detailed guide on obtaining the EU Residency Card, check the EU Residency Guide for Greece.
For non-EU citizens, two main visa options are available for retirees: the Financially Independent Person (FIP) Visa and the Golden Visa Program.
The FIP Visa is ideal for retirees who have a steady income but may not be looking to make a substantial property investment.
The Golden Visa offers a more investment-oriented path to Greek residency, which may appeal to retirees looking to invest in property.
For a detailed guide on the recent changes of the Greece Golden Visa Program, check the Golden Visa Program Changes in 2024.
Whether applying for the FIP Visa or the Golden Visa, non-EU retirees must meet specific requirements:
For EU retirees, the requirements are simpler, focusing primarily on registering with local authorities and proving EU citizenship.
Once you become a resident of Greece, you can transfer your tax residency from your country of origin. Greek tax laws offer various benefits to retirees, including potential tax incentives on pension income. Be sure to consult with a tax advisor familiar with both Greek and international tax regulations to optimize your retirement income.
For more detailed information on the tax incentives that retirees can benefit from, read Flat 7% Tax on Foreign Income: Greece’s Attractive Offer for Retirees.
Greece’s healthcare system offers high-quality services to residents, with options for both public and private healthcare. EU citizens can typically access Greek healthcare by registering with the local authorities, or with their European Health Insurance Card (EHIC), while non-EU retirees must ensure they have adequate private health insurance.
Greece boasts a relatively low cost of living compared to other European countries. Housing, food, and transportation expenses are generally affordable, especially in regions outside of major urban centers like Athens. Retirees can comfortably budget for a relaxed lifestyle, with the added benefit of low-cost access to fresh, local food and activities.
For a full breakdown of how much you can expect to spend while living in Greece, The Cost of Living in Greece: Is It Expensive?
Residency permits like the FIP Visa are renewable every 3 years, while the Golden Visa offers 5-year renewal intervals. Applications for renewal must be submitted before the current permit expires and require up-to-date financial and insurance documentation.
1. Can non-EU citizens work in Greece on a retirement visa?
No, retirement visas do not typically permit employment in Greece, nor full market access to conduct business activities locally. Retirees must demonstrate financial independence.
2. Is healthcare free for retirees in Greece?
While public healthcare is affordable, private health insurance is usually required for non-EU retirees, as an individual must be employed to have access to the public healthcare system.
3. Can I bring my family with me under the Golden Visa program?
Yes, the Golden Visa allows family members to join the primary visa holder in Greece and apply as dependent members.
Greece offers a variety of residency options for retirees from around the world, each with its own advantages and requirements. Whether you’re an EU citizen seeking a simple registration process or a non-EU retiree interested in the Golden Visa program, Greece provides a welcoming pathway to residency.
By carefully assessing the visa options, financial requirements, and lifestyle considerations, retirees can look forward to a fulfilling and peaceful retirement in one of Europe’s most beautiful destinations.
Need help? We assist in gathering the necessary documentation to file and issue both EU and non-EU residency permits. To find out more, book a 15-minute discovery call to learn more about our services.
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