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  5. Case Study: Securing Schengen Mobility via the Greece Golden Visa Real Estate Investment

Case Study: Securing Schengen Mobility via the Greece Golden Visa Real Estate Investment

Program

Greece

Timeline

7 months

Investment

€290,000

Family Size

3 persons

Names and photos have been changed to protect client privacy.

Case study by an 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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After heart surgery, regular check-ups became part of my life. We wanted to know that if I needed to see my doctors in Germany, I could arrange the trip without first having to go through another visa application.

Karim A.

Business owner , Cairo

PROFILE

Entrepreneur & Family

Applicant 49 y.o.
Spouse 44 y.o.
Daughter 17 y.o.

goals

Client Requirements

  • Maintain regular access to the medical team in Germany following heart surgery
  • Travel within the Schengen Area without applying for a visa before each visit
  • Obtain a long-term residence status for the whole family
  • Maintain the family’s main home and business interests in Egypt
  • Invest in Greek property suitable for long-term rental

Situation

Karim is a business owner from Cairo. Several years ago, he underwent heart surgery at a specialist hospital in Germany and has since returned regularly for follow-up examinations and consultations.

The family was accustomed to planning these trips in advance, but their dependence on Schengen visas became increasingly inconvenient. Routine check-ups could be scheduled several months ahead, but medical care was not always predictable. If Karim’s doctors requested additional tests or an earlier consultation, the family still had to factor a visa application into their plans.

After his surgery, Karim and his wife Nour wanted a more reliable long-term solution. Their objective was not to relocate from Egypt: Karim continued to manage his business in Cairo, while their daughter was still at school.

Instead, they wanted a European residence status that would give the family greater flexibility to travel within the Schengen Area and allow Karim to organise medical visits around his doctors’ recommendations.

Solution

During the consultation, Astons reviewed European residence options based on the family’s priorities: Schengen access, long-term status for the family and no requirement to relocate permanently.

The Greece Golden Visa met these requirements. The program provides qualifying non-EU nationals with a five-year renewable residence permit and does not impose a minimum stay requirement for maintaining the status.

Greek residence permit holders can also travel to other Schengen countries for up to 90 days within any 180-day period. For Karim, this meant being able to travel to Germany for follow-up examinations and consultations without applying for a separate Schengen visa before each trip.

The next step was to select a qualifying property. The standard minimum real estate investment is €800,000 in Attica, Thessaloniki and other designated high-demand locations, and €400,000 in other eligible areas. A separate €250,000 threshold applies to specific property categories, including qualifying commercial properties converted to residential use.

Astons presented the family with several properties eligible under the €250,000 route. As Karim and Nour did not plan to live permanently in Greece, they wanted a modern property that could be rented out on a long-term basis.

They selected a two-bedroom apartment for €290,000 in a residential development near The Ellinikon. The property had been converted from commercial to residential use and therefore qualified for the Golden Visa under the €250,000 threshold.

The apartment can be rented on a long-term basis when the family is not using it. Short-term rentals of properties used to qualify for the Golden Visa are not permitted.

Steps with Astons

1. Consultation and profile assessment
Astons reviewed the family’s objectives, financial profile and source of funds and confirmed their eligibility for the selected Golden Visa route.

2. Property selection
The family reviewed qualifying properties in Athens and selected a €290,000 two-bedroom apartment near The Ellinikon.

3. Property purchase and documentation
Astons’ legal team conducted due diligence on the property and coordinated the documentation required for the purchase. The transaction was completed and ownership was registered in Greece.

4. Golden Visa application
After the qualifying investment was completed, Astons prepared and submitted residence permit applications for Karim, Nour and their daughter. Medical insurance was also arranged for all applicants.

5. Biometrics
The family travelled to Greece to provide their biometric data and complete the required in-person stage of the application.

6. Residence cards
Around 9 months after starting the process, the family received their five-year Greek residence cards.

Comparison of Residency by Investment Programs

Program Investment Threshold Processing Time Schengen Access Minimum required stay

Greece Greece

Residency

 from €250,000 4 months Yes None

Portugal Portugal

Residency

 from €250,000 18 months Yes 14 days every 2 years

Malta Malta

Residency

 from €169,000 4 months Yes None

Cyprus Cyprus

Residency

 from €300,000 8 months No 1 visit every 2 years

Italy Italy

Residency

 from €500,000 3 months Yes None

Hungary Hungary

Residency

 from €250,000 4 months Yes None

Expenses

Apartment near The Ellinikon

€290,000

Property transfer tax at 3.09% €8,961
Land Registry registration fee at approximately 0.6% €1,740
Notary fee at approximately 1.5% €4,350
Residence permit government fees for three applicant €6,450
Residence card issuance (€16 × 3) €48
Additional Costs:
Astons’ services and other transaction-related expenses are calculated individually
Total Investment: €311,549

Personalised Cost Breakdown for Program Participation

Get your investment estimate

Similar Success Stories

Indian Investor and Family Obtain Greek Golden Visa via Piraeus Property Investment The Greek Golden Visa program allows non-EU nationals to secure EU residency through real estate investment. Investors can include their spouse, children under 21, and parents, obtaining a renewable 5-year residence permit without the need for physical presence or tax residency in Greece. How the Greece Golden Visa Became a Gateway to Europe for an Egyptian Property Developer Ahmed has spent more than two decades in Egypt’s construction industry, successfully delivering large-scale residential projects across Cairo and Alexandria. As his company prepared to enter the European market, he required consistent, secure access to the EU and the ability to attend high-level negotiations without delays or visa constraints. Family’s Fast-Track to Dominica Citizenship: $264K Investment Secures Global Backup Plan in Just 5 Months Over the past five years, the global atmosphere has become increasingly tense. Political situations in many countries have worsened, prompting a growing number of people to create a “Plan B” for themselves and their families. Today, having an alternative citizenship has become a valuable form of security and freedom.

Result

Around seven months after beginning the process, Karim, Nour and their daughter received their Greek residence cards.

The family continues to live primarily in Cairo, and Karim remains involved in his business in Egypt. Their apartment near The Ellinikon can be rented out on a long-term basis when they are not using it.

For Karim, the main result is greater flexibility when organising his medical follow-ups in Germany. Regular check-ups no longer require a separate Schengen visa application before each trip, making it easier to schedule visits according to his doctors’ recommendations.

The family’s Greek residence permits are valid for five years and can be renewed as long as the qualifying investment and other applicable requirements are maintained.

For the family, the Greece Golden Visa was not primarily a relocation solution. It provided long-term Schengen mobility for a practical reason: ensuring that Karim could continue accessing the medical team that had treated him when necessary.

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 in the EU
  • Visa-free access to Schengen countries
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

~4 months

Processing time

  • Non-refundable contribution and property rental or purchase
  • No residency requirements
  • Visa-free access to Schengen countries
Explore Program

Portugal Portugal

Residency

from €250,000

~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
  • Right to live in Turkey
  • Eligibility for citizenship after 5 years
Explore Program

UAE UAE

Residency

from $100,000

~2 weeks

Processing time

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

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Nasos Fousias

Nasos Fousias

Head of Property Department in Greece

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Susanna Uzakova

Susanna Uzakova

Senior Citizenship & Residency Advisor

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