Retiring in Greece is less expensive than you think, the locals earn $922 a month on average

Photo by Tânia Mousinho on Unsplash — Unfortunately this is not one of the areas with a low cost of living!

The Greek government does not issue retirement visas, but there are other ways to retire in Greece. Two of the most common retirement options are:

1. Greece Golden Visa, and
2. Greece Residence Permit.

A Golden Visa is a visa issued to financially independent individuals with sufficient financial resources to make and maintain investments in Greece. The Golden Visas are valid for five years and can be renewed every five years. A Golden Visa is the fastest way to become a citizen of Greece.

Greece Golden Visa holders cannot engage in gainful activities but can open a business there.

If you are not financially independent, you will need a residence permit if you plan to stay in Greece for a year or longer. You can apply for permanent residency after living in Greece for five consecutive years.

The following criteria must be met in order to qualify for retirement in Greece:

You must have enough funds to support yourself during your stay.

It is necessary that you receive a monthly passive income from a source outside of Greece.