Greece Golden Visa

The Golden Visa Program in Greece is a scheme that was introduced by the government in 2013. In the first half of 2020, over 22,500 residence permits were granted to non-European Union (EU) and non-European Economic Area (EEA) investors and their families who had invested a minimum of €250,000 in real estate.

With the Greece Golden Visa, investors and their families can stay in Greece and travel freely in the Schengen area for a period of five years, provided that they maintain ownership of the investment property. The renewal process can be done online, and there is no requirement for holders to reside in Greece.

During the application process, investors only need to travel to Greece once to appoint a proxy with an in-person signature. This program provides all the benefits of EU/Schengen residency, with one of the lowest investment requirements.

It is important to note that if an investor wishes to apply for a Greek passport, they must reside in Greece for a minimum of seven years.

Which Family Members Receive Automatic Residency Permit Along with the Investor

Under the Greece Golden Visa Program, the following family members are eligible to receive an automatic residency permit along with the investor:

• Spouse
• Dependent children of both spouses below the age of 21
• Dependent parents and parents-in-law

It’s important to note that each family member will need to apply for their own separate residency permit and meet the eligibility criteria, but they can do so under the umbrella of the investor’s application.

Greece Overview

Greece is a country known for its rich history, beautiful landscapes, and delicious Mediterranean cuisine. Situated at the crossroads of Africa, Asia, and Europe, Greece is a highly desirable location for individuals seeking to relocate. Approximately one-fifth of its land is comprised of stunning islands that are home to magnificent beaches and ancient sites.

Greece is renowned for its groundbreaking ancient civilization and is home to numerous UNESCO World Heritage sites, including the Acropolis in Athens and the historic city of Rhodes. In addition to its ancient history, Greece boasts breathtaking natural scenery, from the towering cliffs of Meteora to the crystal-clear waters of the Aegean Sea.

The country’s cuisine is also celebrated for its use of fresh, locally sourced ingredients and healthy Mediterranean diet. With its combination of natural beauty, cultural heritage, and exceptional cuisine, Greece offers an attractive destination for travelers, expats, and investors alike.

Greek Golden Visa Benefits

The Greek Golden Visa program offers a range of benefits to non-European Union (EU) and non-European Economic Area (EEA) investors and their families who invest a minimum of €250,000 in real estate, including:

• Visa-free access to all Schengen countries, allowing for easy travel throughout Europe.
• The ability to access major European cities within one to four hours by plane.
• A streamlined application process that only requires one trip to Greece.
• The right to apply for Greek citizenship after seven years of residency.
• Automatic residency for children up to the age of 21, which allows families to relocate together.
• High potential for return on investment from the vibrant real estate market in Greece.

The program offers a pathway for individuals seeking to gain residency and access to the benefits of living and doing business in Europe. With the ability to travel freely, access to top European cities, and the potential for high returns on investment, the Greece Golden Visa program is an attractive option for those looking to establish a foothold in the European market.

Greece Real Estate Investment

The Greek Golden Visa program allows non-European Union (EU) applicants to obtain a five-year residency permit in return for a real estate investment of at least €250,000. This investment option enables investors to purchase one or more properties, with the residency permit being granted and renewed every five years as long as the property investment is maintained.

In addition to purchasing real estate, investors can also opt to purchase a 10-year lease for furnished tourist apartment complexes or a hotel. They can also buy a 10-year time-share agreement for hotel accommodation. The property can be located anywhere in mainland Greece or on one or more Greek islands, providing flexibility for investors to choose the location that best suits their needs.

The program also allows for joint buyers to purchase real estate together, which may provide added flexibility and opportunity for shared investment. Overall, the Greek Golden Visa program offers a straightforward and attractive option for non-EU investors to gain residency in Greece through real estate investment.

Greece Golden Visa Cost

The cost of obtaining a Greece Golden Visa through the real estate investment option involves several fees and expenses, including:

• Minimum Real Estate Investment: €250,000
• Taxes, Legal Fees, and Administration Costs (approximately 6.4% of the property value): €16,000
• Golden Visa Stamps (€2,000 for each applicant and the main investor)
• Property Background Check (€250 plus 24% VAT)
• Real Estate Purchase Contract Fees (€1,000)
• Residency Application Fee (€300 plus 24% VAT for the main investor and every other applicant)

It’s important to note that applicants can expect additional costs to amount to 8-10% of the property value. These costs may include property inspection fees, notary fees, translation fees, and other related expenses.

Overall, while the investment amount required for the Greek Golden Visa program is relatively low compared to other European countries, applicants should consider all associated fees and expenses when calculating the total cost of the program.

How to Qualify for Greece Golden Visa

To qualify for the Greece Golden Visa program, applicants must meet the following eligibility criteria:

• Investors must be at least 18 years old.
• Applicants must have a valid visa for Greece at the start of the application.
• Applicants must have a clear criminal record and provide relevant documentation as proof.
• Applicants and their dependents must have health and hospital insurance from an authorized Greek insurer for the duration of their stay in Greece.
• Applicants will undergo a due diligence process, which includes a fit and proper test, to ensure that they have a good reputation and are of good character.
• Applicants must furnish proof of their ability to support themselves and their dependents while in Greece from sound financial sources.
• Any documents that support the application must be certified and translated into Greek.

It’s important to note that meeting the above requirements does not guarantee approval of the application. Each application is reviewed on a case-by-case basis, and additional documentation or information may be requested during the review process.

Greek Citizenship and Passport

Investors who hold a Golden Visa can apply for Greek citizenship and passport after residing in Greece for at least seven years. During this time, they must have maintained their investment property and satisfied all other requirements.

Upon obtaining Greek citizenship, investors are entitled to sell their investment property and enjoy all the rights of a Greek passport, including visa-free travel to over 180 countries, access to better job opportunities, and the ability to live and work anywhere in the European Union.

It’s important to note that applicants for Greek citizenship must pass a Greek language test to demonstrate their proficiency in the language. Additionally, applicants must meet other requirements related to their financial status, character, and criminal record. The process for obtaining Greek citizenship can be lengthy and complex, and applicants should seek professional advice to ensure that they meet all the necessary criteria.

Golden Visa: Your Fast Track to Residency and a New Life Adventure