How to Settle Down in Greece After Retirement?

Are you dreaming of sun-kissed beaches, a slower pace of life, and vibrant culture in your golden years? If so, making the move to Greece after retirement could be your perfect next chapter. Whether you're considering retiring in Greece from the U.S., U.K., Canada, or elsewhere, you need a clear path to getting well settled in a new country.

From permits and healthcare to real estate, it’s important to be well-prepared so that your transition to Greece is seamless. If you’re planning to retire soon and are considering settling in Greece, this guide outlines everything you need to know. Let’s explore what it really takes to relocate to Greece for retirement and enjoy a peaceful, rewarding lifestyle abroad.

Understanding Your Legal Path

The most suitable legal pathway for non-EU citizens who want to retire in Greece is the Financially Independent Person (FIP) Visa and the Golden Visa. 

1. FIP Visa

FIP visa allows individuals with passive income or larger savings, like pensions, investments, or rental income, to legally reside in Greece without needing to work.

FIP Visa Requirements

• Minimum passive income of €3,500/month (Add 20% for a spouse and 15% per child)

• Private health insurance that covers medical care in Greece

• Clean criminal record and medical certificate

• Valid passport and supporting financial documents

You can also qualify if you hold at least €126,000 in savings. This amount is equal to an average monthly income of €3,500 for three years. Once granted, the FIP visa is valid for one year, and after entering Greece, you can apply for a three-year residence permit, which is renewable.

2. Golden Visa

The other option is the Golden visa, which allows you to settle in Greece for a longer period of five years. You can secure long-term residency by investing in Greek real estate, government bonds, or other investments.

Golden Visa Real Estate Requirement

• If you want to settle in rural areas or less densely populated towns/islands, you must invest a minimum of €400,000 to become eligible for the golden visa.

• To settle in cities like Athens, Thessaloniki, or islands with over 3,100 inhabitants, you must invest a minimum of €800,00.

• Certain redevelopment projects still qualify under the old €250,000 threshold, though they are limited and competitive.

If you do not want to invest in real estate, a popular alternative is the purchase of shares in mutual or alternative investment funds of at least €350,000. Other financial investments, like government bonds, typically require higher amounts.

If you're not sure whether your financials or paperwork are sufficient, consider using relocation services for retirees or working with an immigration lawyer to avoid delays or denials. For a detailed comparison between the Financially Independent Person (FIP) Visa and the Golden Visa, refer to our guide on visa options.

Step-by-Step: How to Settle In Greece After Retirement

Here’s a simplified version of your checklist for moving to Greece after retirement:

1. Evaluate Your Finances

Ensure your passive income or savings meet the FIP or Golden Visa threshold. Whichever you choose, gather all the relevant documentation, like pension or savings account statements.

Pro Tip: Discover how Greece's 7% flat tax rate could benefit you by reading about the tax benefits available specifically for foreign retirees.

2. Get Your Documents Ready

Gather all of your important documents for the visa application, including income proofs, passports, insurance, medical certificates, and police clearance. Some documents need to be translated into Greek and may require an apostille.

3. Submit Application at the Greek Consulate

Once you have gathered and completed all the forms and documents, it is time for submission. Visit the Greek consulate in your home country. Processing a Greek visa can take a few weeks. In some countries, like the UK, a specific visa office was put in place to streamline applications outside of the Consulate.

4. Enter Greece and Apply for Residency

Once you receive the visa, enter Greece and apply for your residence permit. With this residence permit, you can extend your stay and in some cases bring your family along with you. 

Applying and settling in Greece can be overwhelming sometimes. But with the proper guidance and help, you can easily relocate to Greece after retirement and start this new chapter of your life seamlessly. 

If you’re planning a long-term move, explore everything you need to know about relocation to Greece, from paperwork to lifestyle.

Life in Greece After You Retire

1. Housing: Renting vs. Buying

Renting offers flexibility and is budget-friendly, especially outside of tourist hotspots. Buying can be ideal if you plan to stay long-term, but always consult with a legal advisor before making property investments.

2. Healthcare

Although you’re required to have private insurance, Greece offers affordable healthcare. Many retirees keep private plans for better service and access to English-speaking doctors.

3. Daily Life and Integration

Life in Greece is slow-paced and centered around family, food, and community. It may take time to adjust, especially if you're used to a fast-paced lifestyle. But learning basic Greek phrases, attending local events, and joining expat groups can significantly ease the transition.

Many retirees find comfort in connecting with other expats who have already navigated the hurdles of settling abroad after retirement. You'll find established expat hubs in places like:

• Athens and Thessaloniki (for city lovers)

• Crete, Rhodes, and Corfu (for island living)

• Peloponnese and Epirus (for a rural, peaceful life)

Understand why many choose Greece for retirement by exploring the retirement reasons that make it an attractive destination.

4. Cultural Adjustment

Adjusting to Greek culture can be one of the most rewarding parts of your relocation journey. Greeks are known for their hospitality, strong community bonds, and appreciation for life’s simple pleasures.

However, patience is key:

• Bureaucracy can be slow, so expect delays

• English is widely spoken in tourist areas, less so in rural towns

• Social norms may differ, as Greece values face-to-face interactions and community presence

Consider taking a local language class or participating in cultural workshops. These small efforts will make daily life smoother and help you connect with your new home.

5. Expat Support in Greece

Relocating can be overwhelming, especially if you’re managing it solo. Luckily, there’s a growing infrastructure of expat support in Greece, including:

• Local expat forums and Facebook groups

• Language schools and cultural centers

• Professional relocation assistance for retirees

• Legal advisors and real estate consultants

Working with professionals can streamline your experience, from finding a home to registering with the government. This support becomes invaluable if you're unfamiliar with Greece's legal or healthcare systems.

Your Retirement in Greece Starts Here

Most retirees seek a place where they can feel at home after retirement. The decision to move to Greece after retirement can be a positive shift that reshapes their future. With its affordable living, strong expat community, and beautiful surroundings, Greece offers a high-quality retirement life.

But planning is essential. There are many moving parts, from creating a financial plan to navigating immigration requirements and adjusting to Greek culture. With the right preparation and possibly help from professionals, you can make a smooth, rewarding transition.

Speaking of professionals, Mitos Relocation is always here to help you make this life-changing shift. From assisting you with a visa application to finding a new home to understanding healthcare regulations in the country, our relocation solution for retirees can really make a difference. 

Let Mitos Relocation guide your whole journey, from visa to village life. Book your free consultation today and start your retirement adventure.

FAQs

1. Can I move to Greece when I retire?

Yes, you can move to Greece when you retire. Many retirees from the US, UK, and other countries choose Greece for its warm climate, affordable lifestyle, and beautiful scenery. You’ll need a residence permit or retirement visa to stay long-term.

2. How much money do I need to retire comfortably in Greece?

You’ll need about €1,500 to €2,000 per month for a comfortable lifestyle. This covers rent, food, healthcare, and leisure. If you own property, your monthly costs may be lower.

3. How do I qualify for a retirement visa in Greece?

To qualify, you must show proof of steady income (usually at least €3,500/month), have valid health insurance, and provide a clear criminal record. You typically apply for a FIP visa and then apply for a long-term residence permit after arriving.

4. Is retiring to Greece a good idea?

Yes, due to Greece’s excellent weather, a relaxed Mediterranean lifestyle, lower cost of living, and great healthcare, Greece has become a top choice for multiple expats from the USA, the UK, Canada, and other nations.

5. Who is eligible for permanent residency in Greece?

You may be eligible if you:

• Legally reside in Greece for 5 continuous years,

• Have sufficient income and health insurance, and

• Show integration into Greek life.

The Golden Visa is also considered a type of permanent residency, to the extent the investment is maintained over time.

6. Will I be able to apply for citizenship?

Getting Greek citizenship by naturalisation is possible, but not easy. Greeks take the matter very seriously, and the application process is lengthy and has several requirements, including:

• Residing in Greece for at least 7 years 

• Showing a conversational level of Greek and demonstrating integration in local life