Greece Retirement Visa - Eligibility and Requirements

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The Financially Independent Person (FIP) Visa allows you to move to Greece with your family, provided you have sufficient means to support yourself without working. This makes it an ideal option for retirees.

Greece Retirement Visa Requirements

To qualify for a Greek retirement visa, you have to meet the following requirements:

Sufficient independent income (at least €3,500/month or €84,000 in savings)
Proof of good health
Valid health insurance
Accommodation in Greece (rental or purchase)

The application process can involve detailed paperwork and specific financial proofs, so it’s important to ensure everything is in order before applying. Consulting with experienced immigration professionals can help streamline the process and avoid common mistakes.

Independent income

The main requirement for obtaining a retirement visa in Greece is independent income, proven in one of the following ways:

Monthly income of €3,500. This must be from passive sources, such as a pension (not through employment or a business). If you are bringing your family, you also need:
- An additional 20% (€700/month) for your spouse
- An additional 15% (€525/month) for each dependent child
Savings equal to two years’ worth of living expenses. If you cannot demonstrate the required passive income, you can qualify by maintaining a bank deposit equivalent to at least two years’ living expenses (€84,000). If you are bringing family members, this amount increases by 20% for a spouse (€16,800) and 15% (€12,600) for each dependent child. You must deposit this sum in a Greek bank account.

Health certificate and health insurance

Before applying for the visa, you must get a health certificate from a government-authorized medical center, public hospital, private clinic, immigration health clinic, or licensed general practitioner, depending on where you are from. The certificate must prove you do not have infectious diseases and do not pose a health risk to Greece.

You also have to obtain private health insurance, valid for the trip to Greece and at least the initial period of your stay. Afterward, you can sign up for public Greek insurance or for a private long-term insurance policy.

Accommodation in Greece

You have to find accommodation suitable for your family. This can be through renting or purchasing property. You have to submit property ownership documents or a rental agreement.

Applying for a Greece Retirement Visa

To retire in Greece, you have to apply for the Financially Independent Person (FIP) Visa at a Greek embassy or consulate abroad. Here’s a quick overview of the application process:

Fill out the visa application form. The first thing you have to do is print, fill out, and sign the application form for a long-stay visa.
Schedule a visa appointment. Next, schedule an appointment at your country’s Greek embassy or consulate. See Greek missions abroad here.
Collect the required documents. Make sure you have your financial documents, proof of accommodation, health certificate, and any other documents required by the embassy.
Attend your appointment. On the day of your scheduled appointment, you will have to:
- Submit your documents
- Pay the visa fee (payment methods differ depending on the consular office)
- Submit your fingerprint scans
- Enter a visa interview (not always required, depends on the consular office)
Wait for the visa to process. Once everything is in order, it usually takes around two weeks for the embassy or consulate to reach a decision. It may take longer (up to three months), depending on the workload and the specific circumstances of your application.
Get your passport and travel to Greece. If your application is approved, the visa will be affixed to your passport, and you can travel to Greece.

After you arrive in Greece with your visa, you have to get a residence permit. The residence permit is what allows you to live in the country long-term.

Required Documents for a Greek Retirement Visa

The documents you have to submit when applying for a Financially Independent Person visa for retirement are:

Valid passport.
Completed visa application form.
Passport-size pictures.
Proof of independent income (bank statements, pensions, etc).
Health clearance certificate issued by the relevant health authority in your country.
Police clearance certificate issued by the relevant authorities in your country.
Proof of travel health insurance, covering medical emergencies, evacuation, and repatriation.
Proof of accommodation in Greece (rental agreement, ownership certificate).
Proof of visa fee payment.

Please note that the documents may differ depending on your specific circumstances as well as the consulate and embassy in which you are applying.

After Arriving in Greece (Getting a Residence Permit)

Once you arrive in Greece, you have to apply for your residence permit at the local municipality office or the one-stop-shops of the Aliens and Immigration of the Decentralised Authority.

You will receive a temporary residence permit—initially for one year, but it can be renewed continuously as long as you still meet the initial conditions. After five years, you become eligible for a permanent residence permit, which is indefinite.

To maintain your residence, you have to live in Greece for at least 183 days out of the year.

Why Retire in Greece?

Greece is affordable, with good healthcare, a warm climate, and access to the Schengen Area. Here are some key reasons to consider retiring in Greece:

Residence Benefits

As long as you maintain residence (183 days per year), you have a clear path to permanent residence and, eventually, Greek citizenship.

Access to the Schengen Area

With a Greek residence permit, you can travel freely within the Schengen Area without additional visas.

Affordable Cost of Living

Compared to many Western European countries, Greece offers a high quality of life at a lower cost. According to Numbeo, the estimated monthly cost of living for a single person (without rent) is €795. For a family of four, you need around €2,800/month.

Here are some things to know when it comes to the cost of living in Greece:

Renting: €350 – €700 (one bedroom apartment), €550 – €1,200 (three bedroom apartment)
Monthly utilities: ~€200
Groceries per month (1 person): €150 – €200
Meal (for one) at an inexpensive restaurant: €15
Gym membership: ~€40/month
Preschool or kindergarten (monthly): ~€400
Public transport (monthly pass): ~€30

These are estimates for all of Greece in general. Naturally, there will be differences in the cost of living between large metropolitan cities and smaller towns. Additionally, the cost of living is largely determined by your lifestyle. However, the required minimum amount of €3,500 is more than enough to cover day to day expenses and lead to a comfortable living.

Pleasant Climate and Retiree-Friendly Lifestyle

Greece has a Mediterranean climate, with warm summers and mild winters. It is ideal for outdoor activities, which lead to a healthy and active lifestyle.

Additionally, the slower pace of life, especially in the islands and countryside, and the strong sense of community make Greece the ideal country for your retirement.

Rich Culture and History

As one of the oldest countries in the world, Greece is full of history, from ancient ruins to Byzantine churches. There are countless places to visit and explore, as well as traditions and festivals to enjoy.

Healthcare for Retirees in Greece

As a retiree, you have access to both public and private healthcare services. The National Health System (ESY) provides basic health care to all residents, including expat retirees. This includes medical examinations, hospitalizations, medicines, tests, and some specialist services. You and your family will receive access to the national health system if you contribute to the Social Insurance Institute (IKA), which is a public insurance company that oversees Greece’s social security.

However, although inexpensive, the public healthcare system can be slower and involve waiting times. Many expats opt for private insurance, which provides access to private hospitals and clinics and quicker access to healthcare.

Around 15% of the population has private health insurance coverage. Foreigners moving to Greece can choose health insurance policies with international coverage at online comparison marketplaces such as Insubuy.

Top Retirement Destinations in Greece

Greece is among the most beautiful countries in the world, and each part of the country is unique. Here are the top places to retire in Greece:

Santorini

Santorini is the most famous island in Greece and the number one tourist destination during summer. The natural beauty of the island is one of a kind, and the mesmerizing view is worth moving from the other side of the world to Greece. One of the reasons why Santorini is a popular destination is that life on the island is easy, and there are no worries. Although it might be a bit expensive, Santorini has everything you could wish for.

Corfu

Corfu is a beautiful island on the northwest coast of Greece, surrounded by mountains and a resort-studded shoreline. It is the perfect place to get away from everything and enjoy a quiet and relaxing life. The island is home to beautiful green scenery, idyllic white-sand beaches, historic landmarks, and great food culture.

Besides the laid-back lifestyle, there are many outdoor activities you can do in Corfu, like hiking, swimming, diving, boat trips around the island, snorkeling, sailing, etc.

Athens

The capital of Greece, also known as the heart of Ancient Greece, is a great retirement destination for foreigners who are looking for a place that offers great life quality and low costs of living. Athens is safe and a very peaceful place that holds history and culture in its heart, and there is so much to see and do that you will feel like you do not have enough time.

Rhodes

Spend your retirement in the sunniest place in Greece, under the warm weather and sunshine. Rhodes is a large island that offers the ideal climate to enjoy a great retirement. The island is known for its vibrant nightlife, bars, and cafeterias, dramatic scenery, and luxurious cuisine. Rhodes has many hot spots you can visit and explore and offers many activities for everyone.

Crete

With mild weather, pristine beaches, breathtaking landscapes, and hiking paths, Crete makes a great retirement destination. Crete is the largest island in Greece and has a unique history and culture. It is a top tourist attraction and welcomes thousands of tourists every year.

The pristine beaches are perfect for swimming and relaxing while tanning and enjoying a glass of wine.

Other Ways to Retire in Greece

Another option for retiring in Greece is through the investment visa, also known as the Golden Visa. Through this visa route, you will get residency for you and your family if you make a qualifying investment (typically in real estate) as follows:

€250,000: Investment in converting commercial properties to residential or restoring listed buildings, with no location or size restrictions.
€400,000: Purchase of a single property in Greece, minimum 120 sqm.
€800,000: Purchase of property in Athens, Thessaloniki, or islands with over 3,100 residents.

Other qualifying investments

€400,000–€800,000: 10-year lease or time-share agreement for hotel or tourist residences (threshold depends on location).
€500,000: Fixed-term deposit in a Greek bank.
€500,000: Capital contribution to a Greek real estate investment company, closed-end investment company, mutual fund, or company share/bond issuance for Greek markets.
€500,000: Purchase of Greek government bonds (minimum 3-year maturity) through a Greek bank.
€800,000: Purchase of shares, corporate bonds, or government bonds on Greek regulated markets.
€350,000: Investment in a mutual fund or alternative investment fund focused on Greece.

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Retirement in Greece: Comprehensive Guide