Greece is one of the top destinations for retiring from all over the world. The estimated number of expat retirees living in Greece as of 2025 is approximately 30,000 to 35,000. This figure includes retirees from the United States, the United Kingdom, Canada, Australia, Germany, and other European and non-European countries who have chosen Greece as their retirement destination. Data from the U.S. Social Security Administration (SSA) shows that around 13,251 retired American workers receive their U.S. Social Security benefits while residing in Greece. This makes Greece the fifth most popular European country for American retirees, trailing only the UK, Germany, France, and Italy. Greece is also a top destination for British retirees, particularly since the Brexit referendum. Estimates suggest that more than 17,000 British citizens have made Greece their permanent home.
Retirees choose Greece for its welcoming culture for expats, relaxed lifestyle and good quality of life, affordable cost of living, good healthcare, and attractive tax incentives. Expat retirees are concentrated in urban centers like Athens and Thessaloniki, as well as on popular islands such as Crete, Rhodes, and Corfu.
In this article, we will discuss the key considerations for retiring in Greece, beginning with an assessment of whether the country offers favourable conditions for retirees seeking a stable and high-quality lifestyle. We will outline who is eligible to retire in Greece, the applicable retirement age, and the available residency pathways for both EU and non-EU nationals, including UK citizens. A structured, step-by-step overview of the retirement process will also be provided to clarify procedural requirements.
The article will then examine practical aspects of life in Greece as a retiree, including the cost of living, access to healthcare services, banking arrangements, and the tax framework applicable to retirement income. In addition, it will present an overview of the most attractive regions for retirement and address important regulatory considerations, such as the extent to which work is permitted under a retirement residence permit.
Finally, we will review potential challenges associated with retiring in Greece and compare the country’s retirement proposition with other leading destinations such as Portugal and Spain, offering a balanced perspective to support informed decision-making
Is Greece a Good Place to Retire?
Yes, Greece is one of the best places in the world to retire, offering an exceptional blend of lifestyle, affordability, and cultural richness. Retirees enjoy a high quality of life, shaped by a warm Mediterranean climate, relaxed daily rhythms, and a strong emphasis on family, community, and outdoor living. With more than 250–300 days of sunshine per year, Greece offers ideal weather for retirees seeking an active and enjoyable lifestyle year-round.
Culturally, Greece is known for its hospitality, welcoming expat communities, and rich heritage, making it easy for foreign retirees to integrate, form social circles, and embrace local traditions. Food is another major attraction. Greek cuisine is globally recognized for its freshness, health benefits, and affordability, with retirees enjoying everything from local markets and tavernas to Mediterranean dishes rich in olive oil, vegetables, and seafood.
Financially, Greece remains more affordable than many Western countries, with a lower cost of living, accessible housing options, and reasonable daily expenses even in major cities. Healthcare is another strong point: Greece provides high-quality medical care, with public healthcare available to insured residents and affordable private healthcare widely used by expats. Retirees also benefit from tax incentives, including a flat 7% tax rate on foreign pension income for qualifying retirees who transfer their tax residency to Greece.
Who Can Retire in Greece?
Both EU and non-EU citizens are eligible to retire in Greece, making the country an accessible destination for a wide range of retirees, including those from the US, UK, Canada, Australia, and beyond. For EU/EEA citizens, retiring in Greece is straightforward; you can move freely under EU mobility rights, register your residence locally, and access public services, including healthcare, as long as you meet basic income and insurance requirements.
What Is the Retirement Age in Greece?
The official retirement age in Greece is generally 67, provided an individual has completed at least 15 years (4,500 days) of insured employment. Alternatively, retirees can qualify for a full pension at age 62 if they have accumulated 40 years (12,000 days) of social insurance contributions. These standards apply to Greek citizens and residents participating in the national insurance system and are part of Greece’s structured and regulated pension framework. Additional pension benefits may be available for dependents under specific circumstances, offering further support to eligible families.
It is important to note, however, that Greece’s Retirement Visa (Financially Independent Person Visa) has no minimum age requirement. This means that non-EU citizens such as retirees from the US, UK, or Canada can apply for residency in Greece regardless of age, as long as they meet the financial criteria. This flexibility makes Greece an attractive choice not only for traditional retirees but also for early retirees seeking a Mediterranean lifestyle.
How to Retire in Greece as a Non-EU Citizen?
Retiring in Greece as a non-EU citizen is very achievable, and there are two main residency pathways designed specifically for retirees and financially independent individuals: the Greece Retirement Visa (FIP – Financially Independent Person Visa) and the Greece Golden Visa. Both options allow long-term residence in Greece, access to its lifestyle and healthcare system (once eligible), and the ability to live in the EU Schengen Area, but they differ significantly in requirements, flexibility, and benefits, as shown below:
- Greece Retirement Visa (FIP Visa) Requirements
- Proof of stable passive income (usually €2,000/month for single applicants, more for dependents).
- Acceptable income sources: pensions, rentals, dividends, savings, or other passive income.
- Clean criminal record.
- Health insurance valid in Greece.
- Proof of accommodation in Greece (rental contract or property ownership).
- Bank statements showing sufficient funds.
- Must reside in Greece full-time to maintain the permit.
- Renewal every two years.
- Greece Golden Visa Requirements
- Property investment starts at €250,000–€500,000 depending on the region (Athens center, Thessaloniki, Mykonos, and Santorini require €500,000).
- Can also qualify through shares, bonds, or strategic investments.
- Clean criminal record.
- Health insurance valid in Greece.
- No minimum income requirement.
- No residency requirement (you can live outside Greece and still keep the visa).
- A 5-year renewable residency is linked to maintaining the investment.
Comparison Between Greece Retirement Visa and Greece Golden Visa
| Feature | Retirement Visa | Greece Golden Visa |
| Primary Requirement | Proof of sufficient passive income (pension, savings, rental income) | Minimum qualifying investment (real estate or other approved assets) |
| Income Requirement | At least €3,500/month (higher for dependents) | No income requirement beyond proving financial means |
| Investment Amount | No investment required | Starts at €250,000 or €400,000+ based on property location |
| Purpose | Allows retirees to live in Greece using their financial independence. | Attracts foreign investors and grants residency through investment. |
| Path to Citizenship | Not a direct citizenship route; must satisfy standard residency + physical presence rules. | Eligible for citizenship after 7 years of residency. |
| Visa Type | Type-D National Visa (Financially Independent Person Visa). | Residency permit issued through the Investment Program. |
Choosing between the Greece Retirement Visa and the Greece Golden Visa depends on your finances, lifestyle, and residency goals: the Retirement Visa suits those with stable passive income who plan to live in Greece full-time and want a low-cost, non-investment option, while the Golden Visa is better for those seeking flexibility, no residency requirement, and residency through real estate or capital investment, offering added benefits such as family inclusion, EU mobility, and a clearer path to citizenship after seven years of actual residence.
Can UK Citizens Still Retire to Greece?
Yes, UK citizens can still retire to Greece after Brexit, but the process is no longer automatic. Since the UK is now considered a non-EU country, British retirees must apply for a residency visa, just like Americans, Canadians, and other non-EU nationals. The two main pathways for British retirees are the Greece Retirement Visa (Financially Independent Person Visa) and the Greece Golden Visa, both of which allow long-term residence in Greece. After Brexit, UK citizens must show proof of income, health insurance, and accommodation for the retirement visa, or make a qualifying investment for the Golden Visa. Despite the added steps, thousands of Britons continue to retire in Greece because of its warm climate, relaxed lifestyle, cultural familiarity, and relatively low cost of living.
Retirement Process in Greece: Step by Step
Retiring in Greece as a non-EU citizen involves a structured but documentation-heavy process. Whether you choose the Financially Independent Person (FIP) Retirement Visa or the Greek Golden Visa, the steps below outline the general pathway from applying abroad to receiving your residence permit.
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Apply for a National Entry Visa at the Greek Consulate
Begin your retirement journey by applying at the nearest Greek consulate in your country of residence. You must submit required documents such as a valid passport, proof of income or pension, private health insurance, proof of accommodation, and a clean criminal record. All documents must be translated into Greek and, in most cases, apostilled or officially legalized.
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Enter Greece and Prepare Your Documents
Once your visa is approved and issued (usually valid for 12 months), travel to Greece. Upon arrival, gather all documents for your residence permit application, including updated proof of income (e.g., pension, savings, Social Security), Greek-compliant health insurance, and your tax number (AFM). For the FIP Retirement Visa, you must show at least €2,000/month or equivalent financial resources. For the Golden Visa, you must complete the qualifying real estate or investment purchase before applying.
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Submit Your Application for the Residence Permit
Submit your complete application at the local immigration office (or digitally, if available). After submission, you will receive a temporary blue certificate, which allows you to live legally in Greece while your application is being processed. Golden Visa applicants typically submit through lawyers, while FIP applicants file in person.
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Complete Your Biometrics Appointment
You will then be scheduled for a biometric appointment, where your fingerprints and photo will be taken. This is a mandatory step for both retirement and Golden Visa applicants.
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Receive Your Residence Permit
- FIP Retirement Visa → residence permit valid for 3 years, renewable as long as financial and residency requirements are met.
- Golden Visa → residence permit valid for 5 years, with no minimum stay requirement, renewable indefinitely as long as the investment is maintained.
Processing time for residence permits typically ranges from 6 to 8 months, depending on the region.
Important Requirement
To maintain FIP residency, you must spend at least 183 days per year in Greece. For the Golden Visa, no minimum stay is required.
Legal precision is crucial at every stage; translations, apostilles, investment contracts, and residency filings must be accurate. Professional legal support can significantly reduce delays or rejection risks.
Daily Life in Greece for Retirees
Daily life in Greece for retirees is defined by a slow, healthy, and enjoyable rhythm that naturally supports wellbeing. The Mediterranean lifestyle emphasizes fresh food, outdoor living, and regular social interaction, making it easy for retirees to maintain good physical and mental health. Whether strolling along seaside promenades, enjoying morning coffee at a local café, or visiting open-air markets, everyday life feels relaxed and community-centered.
Greece’s culture places strong importance on family warmth and inclusion, and retirees often find themselves welcomed into neighborhood life with ease. Locals are friendly, social, and patient with foreigners, creating an environment where older adults feel valued and respected. Social gatherings, community festivals, and simple moments of connection like chatting with neighbors or joining walking groups quickly become part of a daily routine.
The country’s mild climate also plays a major role in the quality of life for retirees. With more than 250–300 sunny days per year, retirees can comfortably enjoy year-round outdoor activities such as swimming, gardening, walking, and sightseeing. The pleasant weather contributes to lower stress levels, reduced health risks, and an overall improved sense of well-being.
Furthermore, Greece’s affordability allows retirees to enjoy a high quality of life at a reasonable cost, especially in comparison to Western Europe or North America. Dining out, fresh food, public transportation, and leisure activities remain accessible even on moderate budgets. This balance of comfort, community, natural beauty, and cultural richness makes daily life in Greece exceptionally rewarding for retirees seeking both peace and fulfillment.
Cost of Living in Greece
Greece offers a notably affordable cost of living compared to many Western European and North American countries. According to recent data, the average single person (excluding rent) can live on approximately €750–€810 per month. For a family of four, basic monthly living expenses (excluding premium housing) are estimated at around €2,700–€2,800.
When including rent in major cities or tourist-popular islands, single-person monthly budgets rise to about €1,100–€1,150, while families may require €3,300 or more. Given these figures, Greece ranks among the most budget-friendly EU destinations for retirees and expatriates seeking a high quality of life without high living costs.
Healthcare for Retirees in Greece
Healthcare in Greece is generally considered high-quality and accessible, making it an attractive destination for retirees. Greece operates a universal healthcare system (ESY) similar to those in the UK and Canada, offering essential services such as primary care, specialist consultations, hospital treatment, and prescription medications. Public healthcare is funded through taxes and social insurance contributions, which means that legal residents, including retirees with long-term residency, can access services at a low or subsidized cost. However, healthcare availability can vary by region; while major cities like Athens, Thessaloniki, and Heraklion offer strong medical infrastructure, smaller islands often lack fully equipped hospitals and may rely on emergency transfers to the mainland.
Most retirees, especially expats, choose to complement public care with private health insurance due to shorter waiting times, wider provider choice, and better comfort. Private hospitals in Greece are modern, well-equipped, and staffed with English-speaking doctors, making them especially appealing for foreign retirees. Private insurance typically covers faster access to specialists, elective surgeries, diagnostic tests, dental care, and upgraded hospital accommodations. Private insurance plans vary in price depending on age and coverage, but they remain more affordable than similar plans in the US or UK.
It is essential to note that health insurance is mandatory for both the Retirement (Financially Independent Person) Visa and the Greek Golden Visa. Applicants must show proof of valid private health insurance that meets Schengen requirements (minimum €30,000 medical coverage including repatriation) before receiving approval. Once they obtain residency, retirees can either continue with private insurance or later enroll in the public system by obtaining an AMKA (Greek social security number) and contributing to national insurance.
Overall, retirees in Greece benefit from a dual healthcare system: public healthcare provides affordable essential services, while private healthcare ensures convenience, speed, and personalized treatment. For most expat retirees, combining both systems offers the best balance of quality, accessibility, and peace of mind.
Banking in Greece for Retirees
To open a local bank account, retirees must first obtain a Greek tax ID (AFM), followed by submitting their passport, a valid visa or residence permit, and proof of address. Most major banks, such as Alpha Bank, Eurobank, National Bank of Greece, and Piraeus Bank, offer English-speaking staff, online banking, and mobile apps, making financial management easier for expats. The setup process typically takes 1–2 weeks; however, full activation and documentation verification may extend to several weeks, depending on the branch and workload.
For accessing pensions or retirement income from abroad, many retirees rely on international transfer services like Wise, Revolut, or Western Union, which offer better exchange rates and lower fees than traditional bank transfers. US, UK, and Canadian debit or credit cards work widely across Greece, but using a local Greek debit card often reduces transaction costs and avoids foreign exchange charges. ATMs are available in virtually all Greek cities and tourist areas, and contactless payments are widely accepted, even in small cafés, pharmacies, and local shops.
Greece uses the euro (EUR), and exchange rates fluctuate around 0.90–0.95 EUR per USD (mid-2025). Retirees are advised to avoid exchanging money at airports due to unfavorable rates and instead time larger transfers during favorable market movements. Paying directly in euros, whether through a local bank card or euro-denominated account, helps simplify budgeting, reduce costs, and ensure smoother day-to-day financial management while living in Greece.
Taxes for Retirees in Greece
Greece offers a highly attractive tax framework for retirees, especially those relocating from non-EU countries such as the US, UK, Canada, and Australia. The country’s overall tax system follows a progressive structure for Greek-sourced income, but foreign retirees benefit from a special 7% flat tax regime introduced in 2020. Under this scheme, eligible retirees who transfer their tax residency to Greece pay a fixed 7% tax on all foreign-sourced income, including pensions, rental income, dividends, and business proceeds for 10 consecutive years. To qualify, applicants must not have been Greek tax residents in the previous five years and must relocate from a country that has a Double Taxation Treaty (DTT) with Greece.
Greece currently holds Double Taxation Treaty (DTT) agreements with more than 60 countries, including the United States, the United Kingdom, Canada, Australia, Germany, and France, ensuring that retirees do not pay tax twice on the same income. High-net-worth retirees may also explore the Non-Dom Tax Regime, which allows them to pay €100,000 annually on global income, regardless of the amount.
Retirees will also need to obtain a Greek Tax Identification Number (AFM) to handle their tax filings. The AFM is required for opening a bank account, buying property, filing taxes, and completing most administrative procedures. Applying for an AFM is straightforward and can be done at the local tax office with a passport and basic documentation.
Does Greece Tax US Retirement Income?
Yes, U.S. retirement income can be taxed in Greece. Once you spend more than 183 days in Greece or establish your center of vital interests there, you become a Greek tax resident and are generally taxed on worldwide income, including most U.S. private pensions. Under the U.S.-Greece Tax Treaty, however, U.S. government pensions remain taxable only in the United States. Treaty provisions and foreign tax credits help prevent double taxation, and eligible retirees may opt for Greece’s 7% flat tax regime to reduce the tax burden on their foreign pension income.
Best Places to Retire in Greece
Greece offers an exceptional variety of retirement destinations, ranging from vibrant cities and peaceful coastal towns to charming mountain villages and stunning islands. Each location provides a different lifestyle, cost level, and pace, allowing retirees to choose based on their priorities such as affordability, healthcare access, nature, and more. Below is a curated list of some of the best places to retire in Greece, along with the unique advantages each offers.
- Athens: Athens is best for retirees who want excellent healthcare, cultural attractions, international communities, and an active city lifestyle; moderately expensive but convenient.
- Thessaloniki: A youthful coastal city with rich culture, strong healthcare, and a relaxed pace; more affordable than Athens and great for social, active retirees.
- Crete (Chania & Heraklion) – Ideal for retirees seeking warm weather, great healthcare, and a mix of beaches, villages, and modern amenities; affordable to mid-range.
- Rhodes: Sunny, historic, and friendly; perfect for retirees who want mild winters, vibrant expat groups, and access to beaches; moderately priced.
- Corfu: Known for greenery and Venetian charm; excellent for nature-loving retirees who want quiet living with strong British expat communities.
- Santorini: Luxurious and scenic, ideal for retirees who want premium living, iconic views, and peace; one of the more expensive options.
- Nafplio (Peloponnese): A beautiful seaside town with elegant architecture and a relaxed lifestyle; perfect for retirees wanting charm, walkability, and mild living costs.
- Kalamata: Affordable coastal city in the Peloponnese; great for retirees seeking low living costs, modern amenities, and excellent climate.
- Pelion Peninsula: A nature paradise between mountains and sea; ideal for retirees who enjoy quiet rural lifestyles, hiking, and traditional Greek culture.
- Chryso (Evrytania): A serene mountain village surrounded by forests and rivers; best for retirees seeking peaceful living and cooler summers.
- Polydroso (Thesprotia): Perfect for nature-loving retirees wanting tranquillity, streams, and affordable homes in a remote setting.
- Steni Dirfys (Euboea): Great for hikers and nature enthusiasts; cool climate, lush forest surroundings, and easy access to the Aegean Sea.
These places collectively offer a range of options depending on your lifestyle goals, whether you’re seeking affordability, international amenities, nature, vibrant culture, or the best balance of everything Greece has to offer.
Can a Retiree Work With a Greek Retirement Visa?
No, retirees in Greece who hold a Financially Independent Person (FIP) retirement visa are not eligible to work, as the visa is strictly for individuals who can support themselves without employment. However, retirees may earn passive income from sources such as pensions, investments, or property rentals, as long as these earnings come from outside Greece.
Can I Retire to Greece Without Speaking Greek?
Yes, you can retire to Greece without speaking Greek, especially in popular expat areas like Crete, Rhodes, Corfu, Athens, and Thessaloniki, where English is widely spoken. Daily tasks such as shopping, dining, and basic services are manageable in English, particularly in semi-touristic regions. However, learning even basic Greek will significantly improve your integration, help with bureaucracy, and make communication smoother with locals, especially in smaller towns or villages. Most retirees find that life becomes easier and more enjoyable once they learn essential phrases, even if they never become fluent.
Do U.S. retirees have to pay Greek taxes on Roth IRA withdrawals?
Yes, U.S. retirees may be required to pay Greek taxes on Roth IRA withdrawals, because Greece does not treat Roth IRAs as tax-exempt in the same way the U.S. does. Even though these withdrawals are tax-free in the U.S., Greece may classify them as taxable foreign income. Retirees should consult a U.S. Greece cross-border tax specialist to avoid unexpected tax liabilities.
Cons of Retiring to Greece
While Greece offers an exceptional lifestyle for many retirees, it also comes with challenges that should be considered before relocating. Some difficulties stem from the country’s bureaucracy, language barriers, and economic structure, which may require patience and careful planning, especially for non-EU retirees navigating long-term residency processes.
Key disadvantages include:
- Persistent bureaucratic hurdles: Processes like visa applications, property purchases, and residence permit renewals often move slowly and involve extensive paperwork. Many retirees rely on legal support to avoid delays.
- Greek is not easy to learn: English is widely spoken in big cities, but rural areas and day-to-day errands may require basic Greek. This language gap can affect comfort with healthcare access, banking, and local interactions.
- Economic volatility & tax complexity: Although the economy is improving, Greece still presents financial unpredictability. Understanding how retirement income, pensions, and foreign assets are taxed requires expert cross-border guidance.
- Higher costs on some islands: Popular islands such as Santorini, Mykonos, and Rhodes can be expensive due to tourism-driven pricing in housing, dining, and transportation.
- Limited access to medical services in remote areas: While major cities offer excellent healthcare, smaller islands or rural villages may lack specialists or advanced facilities, requiring travel to Athens or Thessaloniki for serious care.
Retiring in Greece vs Portugal: Which Is Better?
Retiring in Greece and Portugal both offer excellent lifestyles, but the best choice depends on your priorities. Portugal is generally easier for English speakers and has more streamlined bureaucracy, which can make settling in quicker for many retirees. Greece, however, offers a lower cost of living in many regions, warmer weather, and a more traditional Mediterranean lifestyle. Portugal’s healthcare ranks slightly higher, but Greece provides strong care in major cities and is improving rapidly. When it comes to taxes, Greece’s 7% flat tax on foreign pension income is one of Europe’s most attractive incentives, often beating Portugal’s current tax regime. Portugal is ideal for retirees seeking modern infrastructure and large expat communities; Greece is better for those who value affordability, climate, and cultural depth. Both countries are excellent. Your choice depends on lifestyle, budget, and personal comfort.
Retiring in Greece vs Spain: which is better
Retiring in Greece vs. Spain comes down to lifestyle preferences, cost, and how much structure you want in your daily life. Spain offers stronger infrastructure, larger expat communities, and a more organized public system, making it easier for many retirees to settle in quickly. Greece, on the other hand, generally provides a lower cost of living, a more relaxed day-to-day life, and quieter, less-crowded retirement destinations, especially on its islands and coastal towns. Spain’s healthcare system ranks higher globally, but Greece still offers good-quality care, particularly in major cities. Tax-wise, Greece’s 7% flat tax on foreign pensions is more advantageous than Spain’s standard tax regime for retirees. If you prefer a highly developed, structured environment, Spain may be better; if you value affordability, tranquility, and a slower Mediterranean lifestyle, Greece is often the more appealing choice.
Final Word
Retiring in Greece offers a rare combination of affordability, Mediterranean beauty, a relaxed lifestyle, and attractive residency options for both EU and non-EU citizens. From its warm climate and welcoming culture to its favorable 7% flat tax regime for foreign pensioners, Greece has become one of the most appealing retirement destinations worldwide. Whether you’re drawn to peaceful island living, lively coastal cities, or historic mainland towns, Greece provides a lifestyle that balances comfort, safety, and financial accessibility.
Navigating Greece’s visa options, tax planning, relocation logistics, and long-term residency requirements can be overwhelming, especially for international retirees seeking a smooth transition without legal complications. This is where GICG (Global for Citizenship and Residency) can serve as your most valuable partner.
GICG’s experts assist retirees from the US, UK, Canada, the Middle East, and around the world with every step of their Greek relocation, including:
- Choosing between the Retirement Visa and the Golden Visa
- Handling documentation, translations, legalizations, and applications
- Navigating Greek tax systems and optimizing pension income
- Securing housing, healthcare guidance, and local registrations
- Providing long-term support for renewals, real estate investment, and future citizenship planning
Ready to retire in Greece with confidence?
Contact GICG today for a free consultation and let our specialists guide you every step of the way.