Greece Golden Visa Program – Introduction
The Greece Golden Visa Program stands out as one of the most accessible and affordable residence by investment programs in Europe.
Launched in 2013, this program offers non-EU nationals and their families the opportunity to obtain permanent residence permits in Greece, providing a straightforward path to living and traveling throughout Europe.
Key Features of the Greece Golden Visa Program
The Greece Golden Visa offers several compelling benefits:
- Visa-free Access: Enjoy unrestricted travel within Europe’s Schengen Area.
- No Residency Requirement: There is no need to reside in Greece to maintain the visa
- Quick Processing Time: Residence permits can be obtained within three to four months from the application submission.
- Permanent Residence Permits with Unlimited Expiry: The permits do not have an expiration date and may be renewed every five years.
- Rental Opportunity: The investment property can be rented out for additional income
- Family Inclusion: The program covers the main applicant’s spouse, children under 21 years, and the parents of both the main applicant and spouse.
- Path to Citizenship: Eligibility to apply for Greek citizenship after seven years of residence.
- Investment Flexibility: Ability to hold shares and receive income from dividends of a company registered in Greece.
Investment Criteria and Options
The Greece Golden Visa Program requires a qualifying investment in one of several categories:
Real Estate Investment
Purchase property worth a minimum of EUR 250,000, with higher values required in prime location’s like Mykonos and Santorini.
- Enter into a 10-year lease agreement for hotel accommodations or furnished tourist residences.
- Secure a 10-year time-sharing agreement for hotel accommodations.
Capital Transfer Options
Deposit at least EUR 400,000 into a Greek credit institution for a minimum of one year, with a standing order for renewal.
Capital Contribution Options
Invest a minimum of EUR 400,000 in a Greek company for share capital increase or bonds.
Contribute to a real estate or closed-end investment company with the intention to invest exclusively in Greece.
Shares, Bonds, and Government Bonds
Purchase Greek government bonds, corporate bonds, or shares with minimum specified values, ensuring investment in regulated markets within Greece.
Application Process and Timeline
The application process for obtaining a Greece Golden Visa is streamlined into several clear steps:
- Step 1: Visit Greece to select the preferred investment.
- Step 2: Submit the application along with all required documentation.
- Step 3: Undergo the final verification process to receive the residence permit.
The entire process, from choosing the investment to receiving the permit, is designed to be completed within three to four months, making it one of the fastest and most efficient programs of its kind.
Greece Golden Visa – Conclusion
The Greece Golden Visa Program offers a lucrative opportunity for non-EU nationals seeking a permanent residence in Greece with the added benefit of visa-free travel across the Schengen Area.
With its flexible investment options, minimal residency requirements, and quick processing times, the program is an excellent choice for investors looking to expand their global mobility and access the European lifestyle.
Update on Minimum Investment
The cost of the Visa Program will increase from the current EUR 250k minimum investment to a new minimum of EUR 400k.
Investors may still apply under the current threshold as long as they pay a 10% deposit by 31 August 2024. They will also need to finalise the investment by 31 December 2024.
Final thoughts
If you have any queries about Greece’s Golden Visa, or tax matters in Greece, then please get in touch.