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

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

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

Costs Incurred