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  5. U.S. Investor Gains Greek Residency with a €400,000 Penthouse in Athens

U.S. Investor Gains Greek Residency with a €400,000 Penthouse in Athens

Program

Greece

Timeline

6 months

Investment

€423,226

Family Size

1 person

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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+357 97 424386

I wanted a European base as a Plan B. I found a home I love and secured long-term access to the EU.

James D.

Investor , USA

PROFILE

Investor

Main applicant 38 y.o.

goals

Primary Goals

  • EU residency
  • European base
  • Crypto for property

Situation

In 2024, a cryptocurrency investor from Oregon contacted Astons with a straightforward request: help him obtain EU residency with minimal hassle. The client was seeking simplicity: a qualifying property, remote processing, and a backup residency option. His initial plan was conservative: invest the minimum €250,000 in a hands-off rental property, ideally in a commercial-to-residential conversion project, and let a management company handle the rest.

Solution

Astons specialists offered a Greek residence by investment option. Initially, the client expected to pass the lower limit of the program, but while viewing the property, he reassessed his strategy during the process. During his viewing tour in Athens, he visited a penthouse in Piraeus that shifted his strategy.

With panoramic sea views, floor-to-ceiling windows, and a modern open layout, the top-floor unit was far more than an investment—it was a potential home. He decided to spend €400,000 on this two-bedroom penthouse and make Athens his European base.

Astons facilitated the entire purchase process, from property due diligence to residency application. A key advantage was Greece’s pragmatic stance on proof of funds, which allowed the investor to use his crypto assets to finance the purchase.
With Bitcoin on in the spring 2024, the transaction was financially efficient and legally compliant. Astons coordinated every step, ensuring a smooth experience from offer to residency.

Step-by-Step: How the Investor Secured Greek Residency

1. Initial Consultation with Astons
We reviewed his needs: legal EU status, crypto-friendly transaction terms, and fast processing.

2. Property Viewing Tour 

The client arrived in Greece for a short visit and was introduced to high-quality listings. He chose a penthouse in Piraeus and decided to move beyond his initial passive approach.

3. Legal Checks and Offer Submission

Our team performed due diligence on the penthouse, confirmed its eligibility, and prepared the purchase offer.

4. Crypto Liquidation and Fund Transfer

The investor sold part of his Bitcoin portfolio and transferred the required amount to Greece through a verified process.

5. Property Purchase Finalised

Within weeks, the property deal closed. Astons oversaw contract registration, coordinated with the notary, and ensured all tax obligations were met.

6. Golden Visa Application Submitted

All documentation was completed and submitted remotely. The client received his White Paper — a temporary residency document that enables legal stay and travel while awaiting the official residence card.

7. Biometrics and Residence Card Issuance

On a second visit to Greece, he completed biometric registration. A few months later, his five-year residence card was issued.

Current Investment Thresholds | Global Comparison of RBI 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

Hungary Hungary

Residency

 from €250,000 4 months Yes None

Investment Summary: Penthouse Golden Visa Route Item

Cost Penthouse in Piraeus

€400 000

Transfer Tax (3.09%) €12,360
Cadastre Registry Fee (0.6%) €2,400
Notary Fees (~1.5%) €6,000
Immigration Fee €2,150
Residence Card Fee €16
Private Health Insurance €300
Additional Costs:
Astons legal and service fees determined on a case-by-case basis
Total Investment: €423,226

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. How Astons Secured Greece Residence for Three Generations of a Turkish Family High-quality European education is one of the key priorities for many parents outside the EU. A diploma from an EU country provides strong career prospects worldwide. However, not every family is ready to send their child alone to a foreign country.

Result

The investor secured a five-year Greek residence permit and gained a premium penthouse that now serves as his European base. By using crypto assets during a market high, the acquisition was both financially and strategically timed.

The Piraeus property offers exclusive sea views, close access to marina and metro, strong demand in the luxury rental segment of Piraeus, long-term value growth, and the flexibility of visa-free travel across the EU. With no minimum stay required, the investor continues to operate globally while enjoying full access to his new Mediterranean home.

Why Greece?

  • Residency by investment from €250,000
  • Fast processing (3–6 months)
  • No obligation to live in the country
  • Visa-free access to the Schengen Area
  • Company registration, VAT, euro bank account
  • Income-generating real estate
  • Potential route to EU citizenship
  • Non-dom tax regime: €100,000 per year on all global income
  • Access to EU banking, healthcare, and education systems

At present, Greece’s Golden Visa is one of the most affordable ways to obtain EU residency by investment. The residence permit is valid for five years and can be renewed indefinitely — with no requirement to live in Greece.

Why Astons?

Astons was awarded Best Real Estate Agency in Greece (2024–2025) by the European Property Awards. With over 35 years of experience, our Athens-based team offers:

  • Local legal and financial expertise
  • Access to pre-screened properties
  • End-to-end support for U.S. and international investors

Whether you’re relocating, diversifying your portfolio, or securing a lifestyle upgrade, we guide you with confidence.

Contact Astons today to explore your EU residency options through property investment.

Residency by Investment

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

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

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

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

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

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

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

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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Susanna Uzakova

Susanna Uzakova

Senior Citizenship & Residency Advisor

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