Buying property in Greece as an Indian: the Golden Visa property guide
Indian citizens buy a Greece Golden Visa property under the same rules as other non-EU buyers: €250,000, €400,000 or €800,000 depending on the area and the type of property. The main difference is funding. The LRS limit of $250,000 per person per financial year is below even the lowest route, so most families buy as co-owning spouses or spread the payment over two financial years.
Which property route fits your budget
The rules are the same for Indian citizens as for every other non-EU buyer. What changes is how you plan the money, the paperwork and the viewings from India. Start with the route, because it decides where you can buy and how large the property must be.
| Minimum | Where | Property |
|---|---|---|
| €800,000 | Attica (including Athens), the Thessaloniki regional unit, Mykonos, Santorini and islands with more than 3,100 residents | One home of at least 120 m² |
| €400,000 | Most of mainland Greece and the smaller islands | One home of at least 120 m² |
| €250,000 | Anywhere, including central Athens | A commercial building converted to homes, or a listed building restored |
Each route is explained in the zones guide, the €400,000 guide and the €250,000 guide.
Sending the money from India
For most buyers living in India, the first practical question is the Liberalised Remittance Scheme (LRS). It allows a resident individual to send up to $250,000 abroad in each financial year, from 1 April to 31 March, and buying property outside India is a permitted purpose.
The limit is in dollars and the property price is in euros. Because the euro has been worth more than the dollar, $250,000 converts to less than €250,000. In practice, one person cannot fund even the lowest Golden Visa route within a single financial year.
The Reserve Bank of India allows relatives resident in India to combine their LRS limits for a property abroad, on condition that each of them is a co-owner. That fits the Greek rules well in one case:
- Spouses. In Greece, spouses who co-own the property count as one investment, so the permit is granted for the family. In India, each spouse can use their own LRS limit for their share.
- Other relatives. Parents, children or siblings can also combine limits in India, but in Greece any co-owner other than a spouse needs a share worth the full minimum to qualify. A father and son who each own half of an €800,000 home would not both qualify.
- Two financial years. Some buyers spread the payment across the end of March. The full price has to be paid before the permit application, so plan this timing with the seller and the lawyer before you sign anything.
Your bank may also collect tax at source (TCS) on large remittances. It is usually credited against your income tax, but it ties up cash until then. Check the current rates and your own position with your chartered accountant before you commit to a price.
Not tax or legal advice. LRS and TCS rules change often. Confirm the details with your bank and chartered accountant in India and with the lawyer in Greece.
If you live outside India
If you are a non-resident Indian, LRS does not apply to you in the same way, because you are not resident in India. Most NRI buyers pay from the country where they live and earn. The Greek rules are the same: the money must reach the seller by bank transfer, from your own account or from a Greek account opened in your name.
Buying from India without travelling
You do not need to be in Greece to buy. The tax number, the Greek bank account and the signing at the notary can all be handled by a lawyer with your power of attorney. The power of attorney is signed before a Greek consulate or before a notary in India with an apostille. India is part of the Apostille Convention, so a local notary is often the faster option. The permit itself usually needs one visit, to give fingerprints for the card.
The full sequence of steps is in the buying process guide.
Choosing a property you have not seen
When you buy from far away, the risk is not the paperwork. It is choosing a property from photos. Photos do not show a building where half the owners stopped paying the shared costs, a lift that is out of order, or a street that is noisy every night.
- Ask for a live video viewing of the apartment, the entrance, the stairs and the street, not only an edited video.
- Ask about the building: the year it was built, the monthly shared costs, whether a management company runs it, and whether the roof and the lift have been maintained.
- Check eligibility before the price: the zone, the main floor area and whether the title and permits are clean. A property that fails one of these is not a Golden Visa property, however good the price.
The full list is in how to choose a Golden Visa property, and every buying cost is in the costs guide.
Common questions
Can an Indian citizen buy property in Greece?
Yes. There are no restrictions on Indian citizens buying residential property in Greece, apart from a few border areas that need a permit, and the Golden Visa rules are the same as for any other non-EU buyer.
Is the LRS limit enough to buy a Golden Visa property?
Not for one person in one financial year. $250,000 is less than €250,000, the lowest route. Spouses can each use their own limit as co-owners, or the payment can be spread across two financial years.
Can my parents and I buy together?
You can combine LRS limits as co-owners in India, but in Greece only spouses count as one investment. Any other co-owner needs a share worth the full minimum, so a parent and child sharing one property would not both qualify.
Do I have to travel to Greece to buy?
No. A lawyer with your power of attorney can open the tax number and bank account and sign at the notary. The residence permit usually needs one visit, to give fingerprints.