If you are considering relocating to Greece or establishing ties with the country, two of the most popular residence permit options are the Financially Independent Person (FIP) Residence Permit and the Golden Visa. While both offer legal residency in Greece and access to the Schengen Area, they differ in ways that go far beyond investment thresholds and duration — differences that can have significant legal and tax consequences for you and your family.
The Basics: Requirements and Duration
The Golden Visa is granted to non-EU nationals who make a qualifying investment in Greece, most commonly through real estate purchases starting at €250,000 (or €800,000 in high-demand areas). It is initially granted for five years and is renewable indefinitely, provided the investment is maintained. There is no requirement to reside in Greece.
The FIP Residence Permit, on the other hand, requires no investment. Instead, applicants must demonstrate sufficient financial resources from abroad — specifically a minimum monthly income of €3,500, increasing by 20% per additional family member — to support themselves without working in Greece. It is granted for two years and is renewable.
Who Can Join You: The Family Reunification Gap
One of the most overlooked differences between the two permits concerns family reunification — specifically, who qualifies as a dependent family member.
Under the Golden Visa, the definition of family is broad. Holders can include their spouse, minor children, and importantly, ascendants — meaning the parents and parents-in-law of the main applicant — in their application. This makes it a particularly attractive option for applicants who support elderly parents or wish to relocate their extended family to Greece.
The FIP Residence Permit does not extend to ascendants. Parents and in-laws of the main applicant are not eligible for inclusion under this route. For families where multi-generational relocation is a priority, this distinction alone may be decisive.
The Residency Requirement and Its Tax Consequences
This is perhaps the most critical practical difference between the two permits — and one that is frequently underestimated at the application stage.
The FIP Residence Permit is designed for individuals who genuinely intend to live in Greece. Greek immigration law requires FIP holders to actually reside in the country, and this requirement becomes directly relevant at the time of renewal. Applicants seeking to renew their FIP permit must be able to demonstrate actual physical presence in Greece during the preceding period. In practice, this means providing evidence such as utility bills, lease agreements, school enrollment for children, or other documentation that confirms continuous residence.
This residency requirement carries a significant tax implication. Under Greek tax law, an individual who spends more than 183 days per year in Greece — or whose primary centre of vital interests is in Greece — may be classified as a Greek tax resident. For FIP holders who genuinely live in Greece as required by the permit, this threshold is easily met. Once classified as a Greek tax resident, the individual becomes liable to pay income tax in Greece on their worldwide income, not just income earned within the country. Depending on the applicant’s financial situation and country of origin, this can represent a substantial and unexpected tax burden.
The Golden Visa operates entirely differently in this regard. There is no minimum stay requirement attached to the Golden Visa. Holders are not required to reside in Greece for any minimum number of days per year in order to maintain or renew their permit. As a result, Golden Visa holders who do not establish genuine residence in Greece will not, under normal circumstances, meet the threshold for Greek tax residency — and will therefore not be subject to Greek taxation on their global income.
For high-net-worth individuals, investors, and those with complex international income structures, this distinction is not a technicality — it is a fundamental consideration in choosing the right permit.
Which Route Is Right for You?
The FIP Residence Permit is well-suited for individuals who genuinely wish to live in Greece on a long-term basis, do not require investment-linked residency, and whose tax position is not adversely affected by Greek tax residency. It is a straightforward and cost-effective pathway for those who are prepared to make Greece their primary home.
The Golden Visa is the preferred option for investors, individuals who divide their time between multiple countries, those who wish to include their parents in the application, and anyone for whom avoiding Greek tax residency is an important consideration.
Navigating these differences requires careful legal and tax planning. At D-Law Greece, we advise clients on both pathways and help them identify the option that best aligns with their personal, family, and financial circumstances.
Contact us today to discuss your situation and explore the right route for your relocation to Greece.