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How the Greece Golden Visa Became a Gateway to Europe for an Egyptian Property Developer

Program

Greece

Timeline

9 months

Investment

€292,677

Family Size

4 person

Names and photos changed for client privacy

Case provided by Astons expert

Susanna Uzakova

Susanna Uzakova

Senior Citizenship & Residency Advisor

Contents

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Susanna Uzakova

Susanna Uzakova

Senior Citizenship & Residency Advisor

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My main goal was securing residency for business purposes, but the programme also made my family very happy with unrestricted access to the Schengen Area. My wife and eldest daughter are particularly delighted.

Ahmed A.

Developer , Egypt

PROFILE

Developer & Family

Applicant 45 y.o.
Spouse 42 y.o.
Children 17, 12 y.o.

goals

Client Requirements

  • EU real estate expansion
  • EU banking & tax access
  • Schengen-wide mobility

Solution

During his initial consultation, Astons provided Ahmen with a full comparison of Europe’s residency-by-investment options. Portugal and Italy required higher contributions and significantly longer timelines, while Cyprus, though attractive from an investment perspective, does not offer Schengen access, which was essential for Ahmed’s family and business travel needs.

Greece emerged as the most strategic choice, offering:

  • Attractive property investments from €250,000
  • A 6–12 months processing timeframe
  • Favourable tax conditions
  • Full Schengen Area access
  • Ability to include spouse, children under 21, and parents of both spouses

From Astons’ portfolio, Ahmed selected an apartment within a commercial building that had been fully converted into modern residential units. All redevelopment work had already been completed, enabling him to participate at the lowest qualifying investment threshold ( €250,000)  while securing a centrally located asset in Athens.

Since his primary goal was obtaining EU residency rather than generating rental income, Ahmed opted for a €270,000 studio in a former commercial project, fully modernised into residential accommodation.

Step-by-Step Process with Astons

1. Initial Consultation with an Astons Immigration Specialist
Within 24 hours, Astons assessed Ahmed’s profile and confirmed full eligibility for the program. For Egyptian investors, timely preparation of financial documentation is essential, so our specialists reviewed all funds and compliance requirements in advance to ensure a smooth process.

2. Property Selection and Reservation
Astons curated a portfolio of modern apartments in Athens and coastal Attica. Ahmed selected a 50 m² studio in a new;y renovated complex near the business district for €270,000. A 10% deposit was paid to secure the property.

3. Document Preparation
Using a power of attorney, Astons’ legal team signed the sale contract at the notary, registered the title deed, and completed all required formalities. Ahmed did not need to travel to Greece at this stage.

4. Application Submission
Once the balance of the property, taxes, government fees were paid, and family health insurance obtained, Astons submitted the complete application package to the Greek migration authorities.

5. Application Processing
Astons lodged the application electronically. Verification took approximately two weeks after the developer confirmed payment of the investment.

6. Temporary Residence Approval
The family received the White Paper, granting temporary residence and entry rights to the EU. They were required to travel to Greece within one year to complete biometrics.

7. Biometrics Appointment
Several months later, Ahmed, his wife, and both children travelled to Athens to submit fingerprints and photographs. Biometrics are mandatory for all applicants aged six and above.

8. Issuance of Residency Cards
Six months after submission, Astons collected the family’s 5-year residence permits and couriered them directly to Cairo.

Comparison of Residency by Investment Programs

Program Investment Threshold Processing Time Schengen Access Physical Presence Requirement

Greece Greece

Residency

 from €250,000 4 months None None

Cyprus Cyprus

Residency

 from €300,000 8 months None None

Malta Malta

Residency

 from €169,000 9 months None None

Portugal Portugal

Residency

 from €500,000 18 months None None

Hungary Hungary

Residency

 from €250,000 4 months None None

Italy Italy

Residency

 from €500,000 3 months None None

Costs Incurred

Apartment in Athens

€270,000

Property transfer tax (3.09%) €8,343
Land registry fee (0.6%) €1,620
Notary fee (~1.5%) €4,050
Government fees for residency (4 applicants) €8,600
Residence card issuance (€16 × 4) €64
Additional Costs:
Astons’ legal and service fees are calculated individually. Additional costs may include translations, medical insurance, or other minor administrative expenses.
Total (excluding additional costs): €292,677

Personalised Cost Breakdown for Program Participation

Get your investment estimate

Similar Success Stories

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Result

Within six months, Ahmed and his family successfully completed the full process, from initial consultation to receiving their residency cards.

The program provided significant benefits:

  • Family mobility: His wife and daughters spent two months travelling across the EU, and his eldest daughter is considering a European university.
  • Business advantages: Greek residency enabled Ahmed to establish a company in Athens, providing:
  • An official EU business address
  • Access to Greek and international banking facilities
  • Eligibility to participate in European tenders
  • A secure base for long-term development projects

Greece now functions as a stable operational hub for expanding Ahmed’s real estate ventures across the European Union.

Benefits of the Greece Residency by Investment Program

The Greece residency-by-investment program offers the following advantages:

  • Low minimum Investment: From €250,000, the most affordable threshold in the EU.
  • Fast processing: Typically completed within six months.
  • Renewable residency: Five-year permits, extendable as long as investment is maintained.
  • Family inclusion: Spouse, children up to 21, and parents can be included under a single application.
  • No minimum stay requirements: Residency maintained without mandatory physical presence.
  • Pathway to EU citizenship: Eligible after meeting residency conditions and other legal requirements.
  • Access to EU facilities: Ability to open bank accounts, enroll in education, and access healthcare across the EU.

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Residency by Investment

Cyprus Cyprus

Residency

from €300,000

~8 months

Processing time

  • Purchase of new property
  • Eligibility for citizenship after 8 years
  • Non-Dom tax regime
Explore Program

Greece Greece

Residency

from €250,000

~4 months

Processing time

  • Real estate purchase
  • Eligibility for citizenship after 7 years
  • Most accessible and fastest program
Explore Program

Hungary Hungary

Residency

from €250,000

~4 months

Processing time

  • Investment in a fund / non-refundable donation
  • Visa-free access to Schengen countries
  • Eligibility for citizenship after 8 years
Explore Program

Italy Italy

Residency

from €500,000

~3 months

Processing time

  • Investment in shares or bonds / non-refundable contribution
  • Eligibility for citizenship after 10 years
  • Visa-free access to Schengen countries
Explore Program

Malta Malta

Residency

from €169,000

~9 months

Processing time

  • Rental or property purchase
  • No residency requirements
  • Visa-free access to Schengen countries
Explore Program

Portugal Portugal

Residency

from €500,000

~18 months

Processing time

  • Investment in a fund
  • Eligibility for citizenship after 7–10 years
  • Visa-free access to Schengen countries
Explore Program

Turkey Turkey

Residency

from $200,000

~2 months

Processing time

  • Real estate purchase
  • Visa-free access to 115+ countries
  • Eligibility for citizenship after 5 years
Explore Program

UAE UAE

Residency

from $204,000

~2 weeks

Processing time

  • Real estate purchase
  • Rental income ~7% per year
  • Possible domestic staff inclusion
Explore Program

USA USA

Residency

from $800,000

~12 months

Processing time

  • Investment in a regional fund
  • Returnable investment
  • Eligibility for citizenship after 5 years
Explore Program

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Tamara Chetcuti

Real Estate Expert, Head of Greek Office

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