Permanent Residency in Mykonos – Investment OptionsLuxury island residency with EU mobility and lifestyle

Residence and Citizenship in Mykonos

Why people seek residence and citizenship in Mykonos

Mykonos, part of Greece’s Cycladic archipelago, has emerged as one of Europe’s most desirable destinations for those seeking a residence permit in Mykonos and eventual citizenship by naturalization in Greece. Renowned for its cosmopolitan atmosphere, pristine beaches, and iconic whitewashed architecture under azure skies, Mykonos offers an unparalleled Mediterranean lifestyle. The island draws high-net-worth individuals, entrepreneurs, and creative professionals who value its exclusive marinas, world-class hospitality, and privacy. Under Greece’s Golden Visa program—introduced in 2013—investors secure a five-year residence permit by acquiring property from €250,000, with minimal annual presence requirements of just one day, while gaining full Schengen visa-free travel across 26 European countries. Alternatively, the D7 passive income visa serves retirees and remote workers demonstrating stable foreign income—pensions, dividends, or freelance revenues—above defined thresholds and maintaining valid health insurance, granting two-year residency renewable indefinitely. As a full EU member state, Greece extends robust legal protections, social benefits, and healthcare entitlements (EOPYY) to residents. Moreover, after five years of uninterrupted legal residence, holders of Mykonos residence permits may apply for permanent residence in Greece; citizenship by naturalization follows after seven years, subject to A2-level Greek language proficiency, a clean criminal record, and proof of integration. This unique combination of low-threshold investment routes, tax incentives under the non-habitual resident (NHR) regime—such as a flat 7% tax on foreign pension income—and a vibrant island community explains the growing demand for residence and citizenship in Mykonos.

Types of residence permits and citizenship programs

Greece’s immigration framework offers multiple pathways tailored to Mykonos applicants. The Golden Visa program grants a five-year residence permit to third-country nationals investing at least €250,000 in Greek real estate—whether a luxury villa overlooking Elia Beach or a boutique boutique hotel in Mykonos Town. Investors may also choose the €400,000 equity option—purchasing Greek government bonds or shares in Greek companies—or deposit €400,000 in a Greek bank under the deposit program. All Golden Visa investors benefit from renewals every five years as long as the investment is maintained, and minimal physical presence obligations. The D7 visa accommodates retirees and remote professionals showing stable monthly income—at least €2,000 for the main applicant and additional amounts per dependent—plus proof of accommodation on Mykonos and comprehensive health insurance. Student visas (D4) apply to non-EU students enrolling in programs at the Hellenic Open University or specialized marine studies institutes in the Cyclades, renewable annually for program duration.

Family reunification visas extend residency to spouses, minor children, and dependent parents of primary permit holders, granting them identical rights. After five years of continuous legal residence—under any qualifying permit—residents apply for permanent residence in Greece. This confers indefinite stay rights, unrestricted employment, and easier access to social benefits. Following seven years of legal residence—and meeting language, integration, and legal requirements—applicants may apply for Greek citizenship by naturalization. This includes A2-level Greek language exams, a civic interview evaluating knowledge of Greek history and culture, and an oath ceremony before municipal authorities. Successful candidates receive Greek citizenship certificates and can apply for Greek passports, thereby gaining full EU citizenship rights, including voting in national and European elections and access to consular protection by any EU member state.

Requirements and application process

Securing a residence permit in Mykonos involves precise documentation aligned with the chosen category. Core application materials include a valid passport with at least six months’ validity, two recent passport-style photos, proof of health insurance (covering Greece and Schengen countries), evidence of financial means (bank statements, pension or income certificates), and proof of accommodation (rental contract or property deed) on Mykonos. Additional requirements by visa type are as follows:

• Golden Visa: Property purchase agreement and title deed or bank deposit confirmation; for equity option, investment statements in bonds or shares; NIF (Greek tax identification number) issuance; confirmation of investment maintenance for the mandatory holding period.
• D7 Passive Income Visa: Bank statements or pension statements demonstrating regular passive income above the statutory threshold; signed declaration of intended residence on Mykonos; criminal record certificate apostilled by country of origin.
• D4 Student Visa: Official enrollment letter from a recognized Greek educational institution; proof of tuition payment or scholarship grant; financial guarantee statements.

Applicants submit their initial requests at local Aliens and Immigration Departments—Athens or Naxos offices serve Mykonos residents—or through the Ministry of Migration and Asylum’s online portal where available. Golden Visa investors typically engage certified legal and real estate professionals to ensure compliance with investment, anti-money-laundering (AML), and taxation regulations. Processing times vary by category: Golden Visa and D7 applications generally conclude within two to three months; student visas require six to eight weeks. Upon provisional approval, non-EU nationals obtain a national D-type visa from Greek consulates abroad for entry; in-country, they finalize residence cards (blue booklets) at local immigration offices. Renewals occur at least one month before expiration, supplying updated proof of maintained investment or ongoing passive income. Applications for permanent residence—or citizenship—are submitted after five or seven years, respectively, requiring additional integration evidence—annual tax filings, property ownership records, and language proficiency certificates—and conclude within six to eighteen months, depending on completeness and local backlog.

Legal framework and government policies

Greek residence permits and naturalization processes are governed by Law 4251/2014—implementing EU Directive 2011/98/EC on single permit procedures—Presidential Decree 106/2007 on entry and stay of third-country nationals, and Law 4605/2019 establishing the Golden Visa program. Oversight rests with the Ministry of Migration and Asylum, the Hellenic Police’s Aliens and Immigration Departments, and the Independent Authority for Public Revenue (AADE) for tax matters. AML and counter-terrorism financing (CTF) regulations mandate stringent source-of-fund verifications for investor categories, enforced by the Hellenic Financial Intelligence Unit (HFIU). Recent legislative amendments have expanded eligible Golden Visa investments—now including energy efficiency upgrades, vessel acquisitions, and corporate investments—and refined passive income thresholds for D7 holders. The digital “e-Kepis” platform and National Registry Portal (ARIS) facilitate electronic submission of criminal record certificates, application tracking, and appointment scheduling, enhancing transparency and reducing in-person processing delays for Mykonos residents.

Lifestyle, mobility, and long-term benefits

Residence in Mykonos unlocks a bespoke Mediterranean lifestyle balancing luxury and tradition. Exclusive beach clubs—such as Scorpios and Alemagou—offer wellness retreats, yoga classes, and holistic therapies by the sea. Iconic windmills and narrow Cycladic lanes in Mykonos Town (Chora) host boutique shops, art galleries, and tavernas serving fresh seafood and local delicacies. Health services combine EOPYY-covered public clinics on Syros with private facilities in Mykonos Town. International schools—such as the Mykonos Summer School—serve expatriate children, while the University of the Aegean in nearby Syros supports academic exchanges in marine sciences and hospitality management.

Transport connectivity is exceptional: frequent high-speed ferries and hydrofoils link Mykonos with Athens, Santorini, and other Cycladic islands; seasonal international and domestic charters land at Mykonos Airport, providing direct access to key European hubs. Residence permit holders enjoy up to 90 days’ visa-free travel within the Schengen Area in any 180-day period, facilitating business and leisure across Europe. Permanent residents and citizens gain full EU mobility rights—living, working, and studying across all member states, voting in European elections, and receiving consular assistance from any EU mission abroad.

Real estate investments on Mykonos—particularly in Agios Ioannis, Lia Beach, and Ano Mera—have demonstrated robust capital appreciation, driven by global demand for luxury rentals and boutique hospitality projects. Long-term residents benefit from property ownership protections under Greek law, inheritance rights, and participation in local co-ops and cultural associations, fostering community engagement and integration. Tax planning under Greece’s non-habitual resident regime—flat 7% tax on foreign-sourced pensions and exemptions on royalties and dividends—further enhances financial efficiency for retirees and high-earning professionals.

How VelesClub Int. helps

VelesClub International offers end-to-end, personalized services for clients seeking residence and citizenship in Mykonos. Our comprehensive approach begins with an in-depth eligibility analysis—aligning each client’s investment capacity, passive income streams, family structure, and professional goals to the optimal visa option (Golden Visa, D7, D4, or skilled work permits). We coordinate all document preparation: certified translations, apostilles, bank statements, criminal record clearances, health insurance policies, and proof of accommodation, ensuring full compliance with Greek and EU regulations.

For Golden Visa applicants, our real estate experts identify prime properties—sea-view villas, boutique hotel sites, or luxury apartment complexes—negotiate purchase agreements, liaise with notaries and banks, and manage capital transfers to Greek financial institutions under AML protocols. We submit complete applications via the National Registry Portal (ARIS), schedule biometric appointments at regional immigration offices, and monitor progress through to residence card issuance. D7 clients benefit from tailored financial documentation support and crafting of residency declarations, while student visa applicants receive university placement assistance and enrollment guidance.

As clients approach renewal, permanent residence, or naturalization milestones, VelesClub Int. compiles updated portfolios—proof of maintained investments or income, tax filings under favorable regimes, and language proficiency certificates—and arranges SEF and municipal appointments. For citizenship candidates, we coordinate Greek language training, civic integration workshops, dossier assembly for Conservatória dos Registos Centrais, and logistics for oath ceremonies. Post-citizenship, we assist with Greek passport applications, social security registrations, strategic tax planning under the NHR framework, and ongoing legal support to maximize EU mobility benefits.

Leveraging our deep local expertise, strategic government contacts, and a proven track record of successful approvals, VelesClub International ensures a seamless, efficient, and fully customized journey to secure residence and citizenship in Mykonos—empowering clients to embrace the island’s luxury lifestyle, cultural heritage, and expansive European opportunities.