Greek Golden Visa vs Other Residency Options: Why It’s Gaining Ground Among Saudi Investors

Greek Golden Visa vs Other Residency Options: Why It’s Gaining Ground Among Saudi Investors

Residency by investment has become a reliable Plan B for Saudi nationals seeking safety, global mobility, and asset diversification. Among various options, the Greece Golden Visa stands out for its affordability, European lifestyle, and access to the Schengen Area. 

In this article, Anna Semenyuk, Citizenship by Investment Programs Advisor at Immigrant Invest, explains the advantages of the Greece Golden Visa and how it meets the expectations of Saudi investors.

What is the Greece Golden Visa?

The Greece Golden Visa is a residency-by-investment launched in 2014. It grants a five-year renewable residence permit to third-country nationals who make a qualifying investment in Greece.

Unlike many other EU Golden Visas, it does not require physical presence in the country to maintain the permit. This makes it attractive to Middle Eastern investors who value flexibility and travel convenience.

Why Investors from Saudi Arabia Choose Greece for Residency by Investment

Several factors make Greece a preferred destination for Saudi nationals:

visa-free travel in the Schengen Area;

family inclusion — spouse, children under 21, and dependent parents;
no language, education, or management experience requirements;

no stay obligation — residency can be maintained remotely;

fast-track processing — within 4 months.

Greece’s climate, Mediterranean lifestyle, and geographic proximity to the Middle East also appeal to Saudi families looking for a second home.

Investment Options and Greece Golden Visa Properties

The main investment route is by real estate. Investors can choose between:

purchasing residential or commercial property;

acquiring shares in a real estate investment company;

signing a long-term lease agreement for hotel accommodation or tourist housing.

Most investors prefer buying real estate, especially in popular regions like Athens, Thessaloniki, or Crete.

Minimum Investment Amounts and Regional Variations

As of 2025, the minimum investment in real estate is:

€250,000 — for properties bought for renovation in any Greece region.

€400,000 — for properties outside high-demand regions.
€800,000 — for properties in central Athens, Thessaloniki, Santorini, and Mykonos.

This dual threshold allows investors to choose based on their budget and preferences. For those aiming to rent out their property or resell it with profit, investing in tourist hotspots offers high returns.

Eligibility Criteria

Saudi nationals are eligible if they:

are over 18 years old;

have a clean criminal record;

hold valid medical insurance;
make the qualifying investment with legal funds.

There is no requirement to speak Greek or pass integration exams.

Step-by-Step Application Process

Preliminary consultation — eligibility assessment and selection of an investment route.

Legal and tax preparation — signing a power of attorney to act on behalf of the investor.

Investment execution — purchase of property or other qualifying investment.

Document collection and submission — including biometrics, if visiting Greece.

Permit issuance — temporary residence card issued within 2 months.

Renewal every 5 years — provided the investment is maintained.

The process can be completed remotely until biometrics are submitted.

Required Documents for Saudi Nationals

Applicants must provide:

valid passport;

proof of investment — property contract, bank transfer slip, etc.;

clean criminal record certificate;

health insurance policy valid in Greece;

birth and marriage certificates if applying with family.

All documents must be translated into Greek and legalised or apostilled.

Renewal of Greece Residence by Investment

The Greece Golden Visa is valid for 5 years and can be renewed indefinitely, as long as the investment remains in place.

There is no need to live in Greece to renew the residence permit. However, if the investor wishes to apply for Greek citizenship in 7 years, a stay is required.

Taxation and Financial Benefits

Golden Visa holders are not taxed on their worldwide income unless they become Greek tax residents by spending more than 183 days per year in the country.

Benefits include:

no inheritance or gift tax between close relatives;

no tax on rental income earned outside Greece;

access to double taxation treaties with over 57 countries, including Saudi Arabia.

Greece also offers a favourable Non-Dom Tax Regime for those relocating and declaring global income.

Comparison: Greece vs Other Golden Visa Countries

How does the Greece Golden Visa compare to other countries popular with Saudi investors?

Portugal:

minimum investment: €250,000;

stay requirement: 7 days per year;

citizenship: eligible after 5 years;

Portugal is more favourable for investors planning naturalisation, but the stay obligation and costs are higher.

UAE:

minimum investment: $545,000;

validity: 10 years;

stay requirement: once every 6 months;

tax: no income tax;
citizenship: extremely limited path.

The UAE is ideal for Saudi entrepreneurs and business owners but offers no direct path to EU citizenship.

Conclusion

For Saudi nationals, the Greece Golden Visa combines affordability, EU access, and minimal obligations. It is ideal for those who want a second home in Europe, a safe haven for their family, or a smart property investment with long-term potential.

Portugal may be better for citizenship-focused investors, while the UAE suits those seeking tax-free business opportunities. However, Greece remains one of the most balanced Golden Visa — easy to obtain, flexible to maintain, and valuable in both lifestyle and financial terms.