Golden Visa Greece

WHAT IS THE GOLDEN VISA PROGRAM?

The Golden Visa for Greece is one of the most popular investment visa programs in the EU. It is a residence-by-investment visa, issued to non-EU citizens who make a significant contribution to the Greek economy. There are several investment options, but the most common route is through purchasing real estate worth at least 250.000€.

INVESTMENT OPTIONS

Purchase a real estate property worth at least €250,000
Sign a lease agreement with a hotel or tourist establishment for at least 10 years
Make a capital investment of at least €400,000 in a company registered in Greece
Make a €400,000 investment in Greek government bonds.
Make a €400,000 investment in bonds or shares of real estate investment companies.
Make a €400,000 deposit in a Greek bank.
Make an €800,000 investment in corporate or government bonds.

WHO IS ELIGIBLE FOR A GREEK GOLDEN VISA?

You must be a non-EU citizen.
You must be over the age of 18.
You must not have any history of criminal records, in any country in which you have lived.
You must make a significant investment in Greece (see the investment options above).
You must have obtained health insurance from a company operating in Greece.

BENEFITS OF A GREEK GOLDEN VISA

The threshold investment options are relatively lower than in most other EU countries with Golden Visa routes.
You can extend the visa to include your family members, like your spouse, (unmarried) children under 21 years of age, and dependent parents of either yourself or your spouse. If your child is over the age of 21, but no older than 24, and they are a student, they may also be included in the Golden Visa application.
You and your family members will enjoy visa-free travel to the Schengen Zone.
There are no requirements to live in Greece for any duration in order to renew the residence permit.
You can choose to rent out your property after purchase.
You can apply for Greek citizenship after seven years of residence. Greece is an EU Member State, so you would have access to the EU free market and visa-free travel to more than a hundred countries.
You can live and invest in Greece.
You have access to Greek education and healthcare

DURATION OF A GREEK GOLDEN VISA

The Golden Visa for Greece is issued for five years and can be renewed indefinitely as long as you maintain the investment.

If you ultimately choose to live in Greece, then after seven years of continuous residence, you can also apply for Greek citizenship.

Why choose Greece?

Greece has become a favorable investment destination in the last few years, mainly because of its natural beauty, mild climate and geographical position, but there are other things to consider that also help make the Greek Golden visa program the most appealing in Europe.

Greece is the only Schengen Area country that offers Golden Visas for a minimum property investment value as low as 250.000€, which is extremely appealing compared to the double amount (500.000€) required by most other European countries.

2023 Amendment

On December 21st, 2022 the Greek Ministry of Development submitted the amendment of the law into parliament to raise the Golden Visa minimum to €500,000, in certain parts of Greece.

The new minimum value at time of purchase will apply to the North, Central and South Sector of Athens in the Attica Region, the islands of Mykonos and Santorini and the Municipality of Thessaloniki.

For the other regions, the limit of 250,000 euros will remain.

The country has been blessed with a rich past, splendid scenery, and a treasure of Greek values. The Greeks emphasize family, tradition, and a love of the outdoors. Moreover, Greece offers an affordable lifestyle for all. From a small town to a big city, you will enjoy an improved quality of life.

For overseas residents, the country offers terrific tax deals. If your native country is under a tax treaty with Greece, you don’t have to pay double taxes. Moreover, income from Greece’s properties will be taxable in Greece only, and any income from abroad will be tax-free.

Provided you hire the right professionals that have already streamlined the process of acquiring a Golden Visa, it takes, in average, less than three months. Greece, in contrast with other EU countries, imposes no minimum stay-in-the-country requirement for the applicant, this way the investor is not bound to unnecessary travel.

Step by step Guide

1. Hire a trustworthy lawyer who will guide you through the whole process.

2. Collect the necessary documents and paperwork. Take time to research the property you want to buy. Keep an eye out for online and offline sources and, of course, local real estate agents that can be of great help.

3. Book your trip to visit the properties you have shortlisted for a thorough examination. Check the surroundings and make sure the property offers the amenities that you’re looking for in a house. A local guide will smooth out your task while consuming less time, which is another reason local real estate agents can be of great help.

4. Select the property to buy. Quote and negotiate the property price. Take exchange rates, mortgage availability, and rates into consideration, and make sure to check the extra charges adding up to the price of the property. After you have negotiated and settled on a final price, you are halfway there to buy property in Greece. From this point on your lawyer should have power-of-attorney, and should be able to handle all the legal matters of the procedure.

5. Get your Tax ID. The Greek Tax ID is called the AFM, which stands for Tax Registry Number. Also, get the access codes to the “TAXIS” online system.

6. Transfer funds to a Greek bank account. Reserve the property by depositing a small amount to the seller to affirm that you will buy the property. This deposit is usually 10 percent of the total price. You will get your preliminary contract.

7. Draft the Final Deed. Once the lawyer has examined all the regulations, taxes involved, and debts, you will get a copy of the contract from the seller. Your lawyer can represent you at the signing of the final deed in front of the notary, and the process will be registered in the public records. At this point you can be issued a temporary residence permit.

8. Submit the application for the Golden Visa.

9. At this point you will need to visit Greece again to submit your biometric data, using your temporary residence permit. Your Golden Visa should be ready three weeks after that.

10. Enjoy living in Greece!

What documents are required to apply for a Greek Golden Visa?

Document guidelines

The documents you submit have to be translated into Greek by either the Translation Service of the Ministry of Foreign Affairs in Athens, Greece, or by an attorney who is part of a Greek bar association.

The documents you submit must be certified either by an Apostille Stamp (if your country is part of the Hague Convention) or by the nearest Greek Embassy or Consulate (if your country is not part of the Hague Convention).