Greece Golden Visa Without Real Estate in 2026: Funds, Shares, Government Bonds, Deposit

Why the Greece Golden Visa Is About More Than Real Estate

When people talk about the Greece golden visa, one image springs to mind: a sea-view apartment, a villa on Crete, a buy-to-let flat in Athens. That is understandable - real estate remains the most common route, and the overwhelming majority of investors take it. Yet from the very outset the Greek residence-by-investment law was broader: what matters to the state is attracting capital into the economy, while the exact form that capital takes is a secondary question.

That is why, alongside buying property, there is a whole range of financial options. They share one thing in common: you invest in Greek assets - government bonds, fund units, shares, company capital or a bank deposit - and in return you receive the same five-year renewable residence permit for the whole family as you would with a property purchase. Only the amount, the type of asset and the procedural details differ.

These routes are chosen less often - the sums are higher and entry is technically more complex than simply "buying a flat and moving in". But for a certain type of investor they are the better fit: someone who does not want to deal with managing a property, who is wary of price falls in premium areas, or who simply prefers to hold capital in liquid financial instruments. In this guide we break down the Greece golden visa without real estate across all five routes.

Five Routes Without Real Estate: The Big Picture

Before diving into the details of each option, let us bring the whole range together in a single picture. In 2026 there are five financial Greece golden visa routes that do not involve buying property. They differ in their entry threshold and asset type, but they deliver the same result - an investor residence permit.

• Investment fund units - from €350,000. The lowest threshold among all the options without real estate. The money goes into a regulated Greek fund that invests solely in local securities.
• Greek government bonds - from €500,000. The purchase of government bonds with a maturity of at least three years through a Greek bank.
• Bank deposit - from €500,000. A term deposit in a Greek bank for a minimum of one year with automatic renewal.
• Investment in company capital - from €500,000. A contribution to the capital of a Greek company, a real estate investment company (REIC) or a closed-end fund.
• Shares and corporate bonds - from €800,000. The purchase of securities traded on Greece’s regulated market.

Note that none of these routes requires you to find a property, undergo a valuation, pay real estate transfer tax or comply with the 120 m² minimum-area rule that applies to housing. You transfer money into the asset and apply for the residence permit. A detailed breakdown of the amounts and associated costs of all the routes is in our article on the cost of the Greece golden visa.

Table: Route - Threshold - Asset

The central table of this guide. It brings together every way to obtain the Greece golden visa without real estate, along with each route’s minimum entry threshold and exactly what the money is invested in. It is a framework for making your choice: each route is then examined separately below. The figures are a guide for 2026; some government-bond thresholds are stated differently by different sources, so the exact amount should always be verified before the transaction.

As you can see, the most affordable route without real estate is the fund at €350,000. That is even below the standard real estate threshold of €400,000 in most regions. And in premium areas, where real estate starts at €800,000, the financial options at €500,000 may work out cheaper.

Investment Fund Units: From €350,000

The investment-fund route is the most interesting of the options without real estate, because it has the lowest threshold: just €350,000. That is less than standard real estate and noticeably less than all the other financial options. So for anyone who wants a Greek residence permit through investment in a fund rather than in concrete, this is often the optimal entry point.

How it works. The investor buys units (shares) in a special fund - this may be a mutual fund or an alternative investment fund (AIF). The fund must be licensed, regulated under EU rules and invest exclusively in Greek securities: exchange-listed shares and Greek corporate and government bonds. The money is transferred to a dedicated fund account at a Greek bank.

The key conditions of this route:

• A minimum of €350,000 to purchase units.
• The fund must be Greek in terms of what it invests in - it invests exclusively in local assets, not foreign ones.
• The money must be put to work. To rule out "dormant" capital, the manager is required to keep the bulk of the fund actively invested - on average over a year no more than 20% of the fund’s value may sit idle.
• Holding for the term of the residence permit. The units must be held for the entire time the residence permit remains valid and is renewed.

The upside of this route is professional management: a management company runs the fund, so the investor does not have to select the securities themselves. The downside is market risk: the value of the units fluctuates and there is no guaranteed return. This is an investment, not a bank deposit, and it should be treated accordingly.

Greek Government Bonds: From €500,000

The government-bond route is the choice of the conservative investor who wants a clear and relatively predictable instrument. The Greece golden visa via government bonds involves purchasing Greek government bonds worth at least €500,000 with a maturity of no less than three years. The bonds are acquired through a Greek credit institution (a bank), which acts as the intermediary for the transaction.

Why bonds specifically appeal to some investors:

• A clear asset. A government bond is the state’s debt to you: it pays coupon income and returns the principal at the end of the term. It is not a share with an unpredictable price.
• A maturity of at least 3 years. The law requires long-dated securities - short bonds do not qualify. In practice this means the capital is "locked in" over a horizon of at least three years.
• Purchase through a Greek bank. The transaction is carried out officially, which matters for proof of source of funds and compliance.

An important caveat on the amount. Some sources cite a €500,000 threshold for government bonds, while others mention a lower bar - this stems from how different categories of debt securities are interpreted and from reforms to the programme. So the exact current amount and the list of eligible issues must be verified before purchase - we do this at the transaction-preparation stage. Bonds, like any other golden visa asset, must be held for the entire validity period of the residence permit; selling them early without replacing the asset puts the status at risk.

Bank Deposit: From €500,000

The most straightforward route to understand is the Greece golden visa via a deposit. The investor places a term deposit in a Greek bank or national credit institution worth at least €500,000. The minimum term is one year, subject to automatic renewal (rollover). In essence you park your capital in a deposit and in return receive an investor residence permit for the whole family.

What makes the deposit attractive:

• No market risk. Unlike shares and fund units, a deposit does not lose its principal value - the money sits in the bank and earns interest.
• Simple to arrange. There is no need to select securities, find a property or carry out a valuation. You open an account, place the deposit and prepare the supporting documents.
• Liquidity once the residence-permit term ends. When the investment commitment has been fulfilled and you exit the programme, a deposit is easier to recover than selling real estate or fund units.

The flip side is the size. Half a million euros must simply sit in a deposit rather than working in higher-yielding instruments. For some this is an acceptable price for peace of mind and the absence of risk; for others it is lost opportunity. The deposit must be maintained for the entire residence-permit term: you cannot withdraw the money and keep your status, and a deposit with automatic renewal is a mandatory condition. For Russian and CIS nationals, opening an account in a Greek bank comes with enhanced source-of-funds checks - a normal part of the procedure for which documents should be prepared in advance.

Investment in the Capital of a Greek Company: From €500,000

The fourth route is investment in the capital of a Greek company. This is the path for those who want their money to work in a real business or a specialised investment structure rather than simply sit in a deposit or bonds. The threshold is from €500,000.

Several types of investment qualify for this route:

• A contribution to the capital of a Greek company - an increase in the share capital of an operating company that is registered and active in Greece.
• Investment in a REIC - a publicly listed Real Estate Investment Company that invests exclusively in Greek assets.
• Investment in a closed-end fund or a mutual fund focused exclusively on Greek business.
• Corporate bonds of a Greek company issued for trading on Greece’s regulated markets.

This is the most "entrepreneurial" of all the paths: it is the closest to the idea of investing in the country’s economy. But the risks here are broader too - they depend on the state of the particular company or fund. Selecting the target of your investment therefore calls for legal and financial due diligence: you need to be sure that the structure genuinely meets the programme’s requirements and that the investment is protected. This is not a route where you can act blindly - here expert guidance is especially important. The capital, as with the other options, is held for the entire validity period of the residence permit.

Shares and Corporate Bonds on the Exchange: From €800,000

The most expensive of the financial routes is the purchase of shares, corporate bonds or government bonds traded on Greece’s regulated market, worth at least €800,000. This is the option for a large investor who wants to hold capital in liquid exchange-traded instruments while also obtaining a residence permit.

What you need to understand about this path:

• A high threshold - €800,000. That is twice the standard real estate figure and more than double the fund entry point. The route makes sense when the investor already intends to hold a large portfolio of Greek securities.
• Greece’s regulated market only. The securities must be traded on the official Greek exchange or a multilateral trading facility - foreign shares do not qualify.
• Maximum market risk. The value of the portfolio fluctuates with the market. This is a full-fledged exchange investment, with all its ups and downs.

In practice this route is chosen less often than the others - because of the amount and the market risk. More often, large investors prefer either a professionally managed fund (from €350,000) or combine an exchange portfolio with other instruments. Even so, the option exists and works: for someone who confidently navigates the Greek stock market, it is a viable way to obtain a residence permit without buying real estate.

General Conditions Common to All Financial Routes

Whichever route without real estate you choose, the set of basic Greece golden visa conditions stays the same. That is convenient: once you understand one, you grasp the logic of them all.

• A 5-year renewable residence permit. The investor residence permit is issued for five years and is renewed for further five-year periods for as long as the investment is retained.
• Holding the asset for the residence-permit term. The bonds, units, shares, deposit or capital contribution must be held for the entire time you wish to keep the status. Sell the asset without replacing it and you lose the basis for the residence permit.
• Virtually no residency requirement. This is a key advantage of the Greek programme: you do not need to live in the country permanently. Minimal presence is practically not required, which sets Greece apart from many other countries.
• The whole family at once. The residence permit is granted to the main investor, their spouse, children under 21 (with the possibility of extension for students) and the parents of both spouses with no age limit.
• Proof of source of funds. All routes require you to show a legal source of the money. For Russian and CIS nationals this means enhanced compliance - strictly legal, with no circumvention of sanctions.
• A path to permanent residence and citizenship. After 5 years of legal residence, the path to long-term resident status opens up, and beyond that - to naturalisation.

One important shared feature: none of the financial routes falls under the 120 m² minimum-area rule, and none requires the hassle of a property - its upkeep, ENFIA tax or finding tenants. That is the core conceptual advantage of the "real-estate-free" options. Current programme conditions should always be verified on the official portal of the Greek migration service (migration.gov.gr).

Financial Options vs. Real Estate: Which to Choose

The investor’s central question: which is more advantageous - buying real estate or taking a financial route? The answer is that it depends on your goals and the amount. Let us compare them on the key parameters.

In favour of real estate:

• A lower threshold in most regions - the standard €400,000 versus €500,000 for the deposit, bonds and capital.
• The asset can be used - you can live in it yourself (short-term Airbnb-style letting is prohibited for a golden visa property, but long-term letting and personal occupancy are possible).
• A tangible physical asset - psychologically, many feel more at ease owning square metres than paper.

In favour of the financial routes:

• The fund is cheaper - €350,000 versus €400,000 for real estate in standard zones and versus €800,000 in premium zones.
• No hassle with a property - no need to search, vet, renovate, let, pay property tax or handle the transfer.
• Liquidity and diversification - a deposit and exchange-traded instruments are easier to turn back into cash than selling a flat.
• No 120 m² rule and no tie to specific threshold zones.

The conclusion is simple. If you want to use the asset (live in it, let it long-term) and stay within the minimum amount, look at real estate - the details are in our guide to the Greece golden visa via real estate. If what matters more to you is avoiding the hassle of a property, holding capital in liquid form, and you are comfortable with a financial route - the €350,000 fund or the €500,000 deposit will make more sense.

Who the Routes Without Real Estate Suit

The financial options are not for everyone, and that is fine. They beat real estate in specific life situations. Let us sketch the profiles of investors who should take a closer look at the routes that do not involve buying property.

• Someone who does not plan to live in Greece. If you don’t need a property for your own use, why take on the burdens of ownership? A deposit or a fund solves the residence-permit task without the extra load.
• Someone wary of the housing market. Real estate prices in premium areas are high, and growth prospects are not guaranteed. A financial instrument lets you avoid tying yourself to a single property.
• An investor who thinks in terms of a portfolio. For someone used to funds and bonds, the exchange route or fund units are a natural and familiar form of investment.
• Someone for whom liquidity matters. A deposit and exchange assets are easier and faster to turn back into cash than selling a flat in a not-especially-liquid market.
• Large capital. When the sums are €500,000-800,000, the threshold gap with real estate is no longer so critical, and the convenience of holding the asset comes to the fore.

And conversely: if your budget is capped at €400,000, you want to live in Greece or let a property long-term, and you psychologically prefer to own square metres, then real estate is the better fit. There is no universal answer - there is a right choice for your specific objective.

Pitfalls and an Expert’s Perspective

There are more subtleties behind the financial golden visa routes than meets the eye. Let us go through the typical mistakes we see in practice so that you can sidestep them.

• Underestimating compliance. Transferring half a million euros to a Greek bank or fund triggers a serious source-of-funds review. Russian and CIS nationals need to prepare for it in advance: documents on the source of capital and a transparent history of how the money moved. Without this, the money can get stuck and the application can stall.
• Choosing the "wrong" fund or company. Not every fund and not every company meets the programme’s requirements. The instrument must be licensed and invest strictly in Greek assets. A mistake in choosing the structure means a risk of refusal.
• The illusion of a guaranteed return. Fund units and shares are an investment with market risk, not a deposit. Only a deposit - and, with caveats, government bonds held to maturity - guarantees the preservation of the principal.
• Exiting the asset early. Selling the bonds or units, or closing the deposit before the residence-permit term ends, means losing the basis for the status. The asset is held for the entire time the residence permit is needed.
• Confusion over thresholds. The figures for government bonds differ across sources. We always verify the exact amount and the list of eligible instruments before the transaction, not against old articles.

A financial route is technically more complex than buying a flat, but with competent guidance it delivers a residence permit without all the burdens of property ownership. The key is not to cut corners on vetting the asset and preparing the source-of-funds documents.

Taxes on the Financial Golden Visa Routes

A separate and important topic is taxes. Here the financial routes have a welcome difference from real estate: there is no annual ENFIA property tax and no 3.09% real estate transfer tax paid on a housing purchase. But they have their own tax nuances.

• Investment income. Bond coupons, share dividends, deposit interest and income from fund units are all potentially taxable under Greek rules if you become a Greek tax resident.
• Tax residency does not arise automatically. The residence permit alone does not make you a Greek tax resident - you become one by living in the country 183+ days a year. Since the golden visa hardly requires any presence, many investors remain tax residents of their own countries.
• Special regimes for those who relocate. If you plan to genuinely live in Greece, the country offers preferential tax regimes - the non-dom flat tax (a fixed tax on worldwide income for a large investment) and 7% on foreign income for pensioners. That is a substantial topic in its own right.

A full breakdown of rates, regimes and conditions is in our article on taxes in Greece. Here let us fix the main point: the financial routes free you from taxes tied to property ownership, but the income from the investments themselves is taxed under the general rules, and the tax consequences depend on whether you become a Greek resident.

How to Obtain the Residence Permit Without Real Estate: Step by Step

Let us bring the whole process together into a clear sequence. On the financial routes the order of steps differs from a property purchase, but the logic is the same: first the investment, then the residence-permit application.

• Step 1. Choosing the route. We determine what suits you best - the €350,000 fund, a deposit or bonds at €500,000, company capital or an exchange portfolio at €800,000. We factor in the amount, your attitude to risk and your goals.
• Step 2. Obtaining an AFM and opening an account. A Greek tax number (AFM) is issued and an account is opened at a Greek bank - all the investments pass through it.
• Step 3. Preparing the source-of-funds documents. The key stage for Russian and CIS nationals - proving the legal origin of the capital, and the compliance checks of the bank and the fund.
• Step 4. Making the investment. Purchasing units, bonds or shares, placing the deposit or making the capital contribution - strictly in line with the programme’s requirements and with the correct documentation.
• Step 5. Submitting the residence-permit application. With proof of the investment and the document package, the application is filed and biometrics are taken.
• Step 6. Receiving the residence card. After approval, a five-year card is issued to the investor and the family members.

Timelines depend on the route and the workload of the authorities, but on average the process takes a few months. The most time-sensitive stage is not the filing itself but compliance and the preparation of the source-of-funds documents. That is why we start work on them first.

Conclusion: The Greece Golden Visa Without Real Estate in 2026

Let us draw the line. In 2026 there are five alternatives to the real-estate Greece golden visa, and they genuinely work, even though they are chosen less often. The most affordable path is investment fund units from €350,000, which is even cheaper than standard real estate. Next come the deposit, government bonds and investment in company capital - from €500,000 - and exchange-traded shares and bonds from €800,000 round off the range.

The main advantages of the routes without real estate: no hassle with searching for, vetting and maintaining a property, no 120 m² minimum-area rule, no property tax and no transfer tax on purchase, and capital held in a liquid financial form. The main drawbacks: the thresholds (apart from the fund) are higher than for standard real estate, and shares and units carry market risk.

The result, however, is the same: a five-year renewable residence permit for the whole family, with virtually no residency requirement and a path to permanent residence and EU citizenship. Which route works out best for you depends on the amount, your attitude to risk and whether you actually need the asset to live in. If you want to weigh the options against your own situation and avoid a mistake in choosing the instrument, start with our core guide to the Greece golden visa and the breakdown of the full cost of the programme, and then discuss the details with an expert.