Greece offers one of attractive residence visa option, to third country nationals, who cannot afford golden visa. This visa is known as ‘Financially/Economically Independent visa’ granted under article 20 of Immigration Law 4251/2014
While Golden visa scheme requires EUR 250,000 lump sum invested into property. This visa only requires applicants only to show living expenses of EUR 2000 per month, Spouse additional 20% (EUR 400), and children 15% (EUR 300) for each child.
This visa is issued in the form of long term residence permit valid for two years, which can be extended further. Self employed persons, entrepreneurs, retirees in Greece can make use of this visa option. There is no requirement to live permanently in Greece and can visit the country anytime.
Applicants have to show atleast EUR 50,000 ( 2000€ calculated for 24 months) and for families atleast EUR 67,000 for visa approval changes. Third country nationals must apply for D visa at the Greek consulate in their country
The examination of application procedure takes 10-14 weeks and if you hire a law firm, expect another 2000€ for legal costs plus more for families with children.
| Male | Female | Total | |
| Golden visa (Investment) | 8 | 2 | 10 |
| Golden visa (permanent residence) | 2,718 | 1,945 | 4,663 |
| Economically Independent visa | 878 | 540 | 1,418 |
Source: Hellenic Migration Office / April 2019
Top countries
The top countries for economic independent visa recipients are
- Iran – 313
- Russia – 256
- United States – 191
- Albania – 176
- Ukraine – 87
- Turkey – 57
- Syria – 42
