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.

The region is unstable, and European partners prefer cooperation anchored within EU jurisdiction. I needed a solution that would give my family freedom — and my business room to grow, Ahmed explains.

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.

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.

• 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

Total (excluding additional costs): €292,677

Note: Astons’ legal and service fees are calculated individually. Additional costs may include translations, medical insurance, or other minor administrative expenses.

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.

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.