September 25th, 2023 at 06:27 pm
Retirement Visa for Greece
Comprehensive advice on how to apply for a retirement visa to Greece, what paperwork is needed, and where’s best to live for retirees.
Everything you could possibly want for retirement is available in this land of spectacular scenery, green valleys, immaculate beaches with crystal-clear blue waves, and gorgeous islands.
Greece is a terrific destination to retire on a monthly budget because of its wonderful food, rich history, pleasant weather, safety, and inexpensive cost of living.
Greece does not, regrettably, offer retirement visas or programs to foreigners who seek to live here in retirement; yet, there are still ways to live in Greece.
How Can I Live in Greece and Retire Permanently?
Although retirement permits are not issued by Greece, there are still ways to retire there. In Greece, the two most popular and practical retirement choices are:
Greece Golden Visa
Those who are financially independent and have the means to establish and sustain an investment in Greece are granted this kind of visa. Every five years, the Greece Golden Visa is renewable for an additional five years. One of the easiest ways to become a citizen is to apply for a Golden Visa.
Greece Residence Permit
Anyone intending to stay in Greece for a year or more must obtain a residency permit. After five years of continuous residence in Greece, you can apply for permanent residency.
NOTE: While they are permitted to establish businesses in Greece, holders of a Greece Golden Visa are prohibited from engaging in any profitable activity.
What Are Greece’s Retirement Eligibility Requirements?
You have to fulfill the following requirements in order to be qualified for retirement in Greece:
- You have to be able to support yourself financially while visiting Greece.
- You have to receive a monthly income in the form of passive savings from a source outside of Greece.
- Also, you must not pose a risk to Greece’s and its citizens’ national security.
- Your criminal record must be unblemished.
- You must possess a current Greek health insurance policy.
- You need to be in excellent health and free of any illnesses that could be fatal.
How do I apply to Greece for retirement?
You should find out if you require an entry visa in order to enter Greece, depending on how you intend to retire there. For visits lasting longer than ninety days, like in this instance, you require a Greece visa in order to enter the nation. In other countries, however, entry is permitted without a visa.
After receiving the visa, you can enter the nation and submit an application for a Greece Golden Visa or Residence Permit.
Does Greece allow US citizens to retire?
Yes, retiring to Greece is quite easy for US citizens. You can enter Greece without a visa as an American citizen for a period of 90 days, during which you can apply for a residency permit. However, you will want a Greece visa if you intend to stay for more than ninety days.
How much cash is needed in Greece for retirement?
Greece has a reputation for being pricey, although that isn’t quite accurate. Due to their popularity with tourists, locations like Mykonos and Santorini are regarded as some of the most costly islands in Greece. However, there are still reasonably priced islands, like Lefkada, Hydra, or Kavala, where living expenses are reasonable.
A single person’s monthly expenses for utilities, heating, water, and other necessities typically come to about $700, while a family of four may get by on about $2500. In terms of rental costs, you can find apartments for as little as $230 to $600 in some neighborhoods, or larger apartments for $500 to $1200.
The average cost of living in Greece is shown here:
| ACCOMMODATION (rent) | Monthly Cost |
|---|---|
| Apartment (1 bedroom) in City Center | $400 |
| Apartment (1 bedroom) Outside of Center | $335 |
| Apartment (3 bedrooms) in City Center | $700 |
| Apartment (3 bedrooms) Outside of Center | $645 |
| ACCOMMODATION | PRICE per m2 |
|---|---|
| Price of purchasing an apartment in the City Centre | $2020 |
| Price for purchasing an apartment Outside of Centre | $1720 |
| FOOD | COSTS |
|---|---|
| Milk | $1.30 |
| Rice | $1.80 |
| Eggs | $3.20 |
| Tomato | $1.60 |
| Potato | $0.90 |
| Apples (kg) | $1.70 |
| UTILITIES | MONTHLY COSTS (85m2) |
|---|---|
| Electricity, Water, Heating, Cooling, Garbage | $180 |
Greece’s Health System
Both private and public health insurance are available in Greece, which has a universal healthcare system. All Greek citizens should have free and equitable access to high-quality healthcare services through the National Healthcare Service, also known as ESY (ΕΣY).
The primary, secondary, and tertiary tiers of service delivery in the ESY system are made up of public and commercial health service providers.
The medical services provided by the Greek public healthcare system include:
- Treatment of infectious diseases
- Hospitalization
- Laboratory services
- Maternity care
- Medical appliances
- Transportation
- General and specialist care, etc.
Approximately 15% of Greek citizens have private health insurance, despite the country’s free healthcare system. Internationally covered health insurance packages are the best option for foreigners relocating to Greece.
Do I Want to Retire in Greece?
You don’t need to consider carefully why it is the best decision to go to Greece. Greece is the ideal destination for retirement for the following reasons.
Medical care
Greece provides free medical treatment to all of its residents. Greeks no longer have to pay exorbitant fees to receive treatment in contemporary medical facilities thanks to the National Healthcare Service. High standards of healthcare are provided by both public and private institutions, with a multitude of specialists on staff.
Housing
Greece’s real estate market is not what you may anticipate. Greece’s housing costs are actually rather reasonable, so if you have a good budget, you may purchase a fantastic apartment right in the center of Athens. For foreigners, buying a property in Greece can be the greatest choice.
Natural
Without question, Greece boasts some of the most magnificent scenery that anyone have ever seen. The captivating nation is incredibly varied, featuring a plethora of stunning mountains, woods, rivers, caverns, and volcanoes, but its perfect beaches with glistening clean waters are its greatest feature.
Cooking
Greek food is renowned for being healthful and for using a lot of fish, vegetables, lean meats, and olive oil. You won’t go hungry in Greece since they adore eating and feeding others. If you want to taste the best flavors, you must try several well-known and delectable foods like souvlaki, koulouri, fasolada, and moussaka.