Golden Visa Greece
Residency By Investment
Second Passport Through Business and Real Estate Investment
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Greece Residence by Investment
Greece will double the minimum investment required for the Golden Visa for some regions From May 1st, 2023, some regions of Greece, including municipalities of Athens, will require a minimum of €500,000 instead of €250,000. Other areas affected by these changes are Thessaloniki municipalities and the Mykonos and Santorini islands. Investors who purchase real estate in the areas listed above and have already paid 10% of the property value as a deposit by April 31st, 2023, will be able to conclude their contracts until December 31st, 2023, and apply under the scheme that requires the €250,000 investment. Investors who have already paid their deposit will have the option to replace the initial property with another one and still apply under the €250,000 threshold, provided they conclude the transaction before the end of the transition period. Under the new rules, you must purchase a single property to qualify for a Golden Visa. In cases of joint property ownership, the minimum value of the ownership share must be €500,000 and must again affect a single property.
Greece Overview
The Greece Golden Visa is, in fact, the Greece Residency by Investment Program that was introduced by the Greek government in 2013 to enable genuine investors to acquire residency in Greece by investing in real estate.
The five-year residence permit may be renewed every five years thereafter provided the applicant still owns the property. Greece offers a straightforward residency route, with no minimum stay requirement. The application process is quick with further opportunities to apply for citizenship after a set period.
Investment
Minimum investment of EUR 250,000
Processing Time
Processing time of two to three months.
Key Benefit
Visa free travel to over 190 countries
Residence by Investment Greece
- An investment in real estate property with a minimum value of EUR 250,000 plus applicable taxes
- A 10-year lease agreement for hotel accommodation or furnished tourist residences in tourist accommodation complexes
- A 10-year time-sharing agreement for hotel accommodation
- Not only does the investor himself receive a residency permit, but so do all his family members:
- children under 18
- spouses or civil partners who are financially dependent on the investor
- parents of both spouses.
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Benefits of Greece Residency
Process
- Greece’s Golden Visa application process is one of the fastest, with a processing time of 90 to 120 days from submission to approval.
- Eligibility to apply for citizenship after seven years of residence.
- Residence permits can be acquired within 30–60 days
- Unlimited expiry date of residence permit
Global Mobility
- Greece Golden Visa program offers the lowest real estate investment threshold among similar European countries, and also has great family rules.
- Visa-free travel within Europe’s Schengen Area
- No requirement to reside in Greece
- Opportunity to rent out the investment property
- Residence applicable to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse)
Wealth Protection
- One of the most attractive advantages a resident of Greece receives is a flat 7% tax rate incentive to pensioners who decide to move their tax residency to the country.
- Favorable tax regime for residents is the advantage used by investors who decide to establish tax residency in the country.
- In terms of residency requirements, Greece’s Golden Visa program requires only a one-day stay per year, making it an attractive option for investors who are not looking to relocate to the country permanently.
Country Information
Greece boasts amazing Mediterranean landscapes, a warm climate, and abundant opportunities for economic growth.
The Golden Visa gives you the freedom to travel across the Schengen zone without the need for an additional visa.
A Greek Passport allows you to travel Visa-Free to 190 countries.
The Greek government stimulates investments in tourism, hospitality, the digital sphere, farming, and construction.
Greece is one of the safest countries in Europe and has an easy-going, relaxed feel.
Athens, the capital, operates under the Euro (EUR) as its currency, with an exchange rate of 1 USD equal to 0.89 EUR. As of 2020, the population stands at approximately 10.72 million. The government functions under a Parliamentary System, and the official languages spoken are Greek and English.
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FAQs about Greece
The duration of the Greek residence permit is 5 years.
Yes. The may request individual residence permits . They must though submit separate applications. Their own permit expires at the same date that the investor’s permit expires.
Ascendants are included in the provision above but not children over the age of 21. Children of third country nationals, who have been admitted to Greece under the terms and requirements of residence permit for property owners, are granted a residence permit for family reunification until the age of 21. After that, it is possible to acquire a renewal as a 3-year independent residence permit until they reach the age of 24 and then it is possible to renew it further according to pertinent immigration legislation..
Yes. The residence permit and long-term visas are valid as far as the free movement of the person in the Schengen area is concerned. Any citizen who holds a long-term visa (such as the residence permits for real estate owners) which has been issued by a member state and are valid for one year, are able to travel to other member states for up to 3 months within a six month period, under the same conditions which apply to the holder of a residence permit, while they are also granted a right for multiple entries.
In no case does the residence permit provide access to any type of employment. Employment, according to paragraph 6, article 20, of Law 4251/2014, does not include the exercise of economic activity in the capacity of a shareholder or a Chief Executive Officer for an already existing company. The family members that have been issued a residence permit for the same duration as the sponsor are similarly not granted access to the employment market.
