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Greece Golden Visa - Greece Ultimate Guide | Greece Residency By Investment
Residency By Investment - Greece Ultimate Guide
Table of Contents
Introduction of Greece Golden Visa
Greece is a beautiful country, rich in culture and history, with stunning landscapes and a mild climate. The Greece Golden Visa program is one of the most popular residency by investment programs in Europe. The Greece Golden Visa allows non-EU citizens and their families to obtain a residence permit in Greece by investing in real estate or other assets. In this guide, we will provide a comprehensive overview of the Greece Golden Visa program, its benefits, eligibility criteria, investment options, application process, and fees.
About Greece and Why It’s the Perfect Fit for You!
Greece is a country in southeastern Europe, located on the Balkan Peninsula. It is known for its rich history, stunning architecture, beautiful beaches, and warm climate. Greece is also a member of the European Union and the Schengen area, making it an attractive destination for travellers and investors alike.
Greece has a lot to offer, from its stunning natural beauty to its vibrant culture and lifestyle. It is also an affordable country to live in, with a low cost of living compared to other European countries. With a Greece Golden Visa, you and your family can enjoy all that Greece has to offer, including its beautiful beaches, delicious cuisine, and friendly people.
What is Greece Golden Visa?
The Greece Golden Visa is a residency by investment program that allows non-EU citizens and their families to obtain a residence permit in Greece by investing in real estate or other assets. The program was introduced in 2013 as a way to attract foreign investment and boost the Greek economy.
The Greece Golden Visa program is one of the most popular residency by investment programs in Europe. It allows investors to obtain a residence permit in Greece for themselves and their families, including their spouse, children under 21, and parents.
Benefits of Greece Golden Visa
The Greece Golden Visa program offers several benefits for investors and their families, including:
Residence permit:
The Greece Golden Visa program provides a residence permit that allows investors and their families to reside in Greece and travel freely within the Schengen Area.
Easy travel:
With a Greek passport, you can travel the world visa-free to over 180 countries including to the EU, US, and UK. Take a last-minute business trip or a spontaneous vacation with your family.
Access to education:
Investors and their families can access high-quality education in Greece, including primary and secondary schools, universities, and vocational schools.
Healthcare:
Investors and their families have access to Greece’s public healthcare system, which provides high-quality medical care at a low cost. Private healthcare is also available for those who prefer it.
Business opportunities:
Greece is a member of the European Union, and investors can take advantage of its business opportunities and access to the EU market. The country has a growing economy, and there are many opportunities for investment and entrepreneurship.
Real estate investment:
Real estate investment is the most popular option for the Greece Golden Visa program, and it provides investors with the opportunity to invest in one of the most beautiful and historic countries in the world. The property market in Greece is stable, and investors can choose from a wide range of properties, including apartments, villas, and commercial properties.
EU citizenship:
After holding a Greece Golden Visa for five years, investors and their families can apply for Greek citizenship and become EU citizens. This provides them with the right to live, work, and study in any EU member state and access to social benefits, including healthcare, education, and pensions.
Tax benefits:
Greece offers several tax benefits for investors, including a flat tax rate of 7% on income from foreign sources for non-residents and a tax exemption on income from foreign sources for residents who spend less than 183 days per year in Greece.
Quality of life:
Greece is known for its beautiful beaches, historic landmarks, and delicious cuisine. It is a popular destination for tourists and offers a high quality of life for residents.
How Much Time Does It Take To Obtain A Greece Golden Visa or Greece Residency By Investment?
The time it takes to obtain a Greece residency by investment depends on several factors, including the type of investment and the processing time of the authorities. On average, the Greece Golden Visa application process takes between 3 to 4 months.
Eligibility for Greece Golden Visa:
To be eligible for the Greece Golden Visa program, you must meet the following criteria:
Nationality:
Be a citizen of a non-EU/EEA country.
Investment:
Applicants must make an eligible investment in Greece. The investment can be in the form of real estate, a business, or a government bond. The minimum investment amount for the Golden Visa program is €250,000 for real estate or €400,000 for a government bond.
Valid passport:
Applicants must have a valid passport from their home country.
Clear criminal record:
Applicants and their family members over the age of 14 must provide a police clearance certificate from their country of origin or any country where they have lived for more than six months in the past ten years.
Health insurance:
Applicants must have health insurance coverage for themselves and their family members for the duration of their stay in Greece.
Financial means:
Applicants must demonstrate that they have the financial means to support themselves and their family members during their stay in Greece. This can include income from employment, business ownership, or investments.
Residency in Greece:
Applicants must spend at least 90 days per year in Greece to maintain their residency status. After five years, they can apply for Greek citizenship and become EU citizens.
Age:
Have a minimum age of 21.
It is important to note that the eligibility requirements for the Greece Golden Visa program can change at any time, and it is recommended that applicants consult with a reputable immigration lawyer or consultant to ensure that they meet all the current requirements.
Greece Golden Visa Investment Options:
There are several investment options available for the Greece Golden Visa program, including:
Real estate investment:
The most popular investment option for the Greece Golden Visa is real estate. Investors must invest a minimum of €250,000 in real estate in Greece. The property can be a residential or commercial property, and investors can purchase multiple properties as long as the total investment amount is at least €250,000.
Government bonds:
Investors can purchase Greek government bonds worth at least €250,000. The bonds must be held for at least three years.
Corporate shares:
Investors can invest at least €250,000 in shares of Greek companies. The investment must be held for at least three years.
How to Get a Golden Visa in Greece: Application and Process
The application process for the Greece Golden Visa program involves several steps, including:
Choose an investment option:
The first step is to choose an investment option that suits your needs and budget.
Find a property:
If you have chosen real estate investment, you must find a property that meets the investment requirements.
Open a Greek bank account:
You must open a Greek bank account and transfer the investment amount to the account.
Obtain a tax ID number:
You must obtain a Greek tax identification number.
Apply for the Golden Visa:
You must submit your application to the Greek authorities along with all the required documents, including proof of investment, legal source of funds, clean criminal record, and health insurance.
Attend an interview:
You and your family members may be required to attend an interview with the Greek authorities.
Wait for approval:
The processing time for the Greece Golden Visa application is between 2 to 3 months.
Fees and Costs of Greece Golden Visa:
The fees and costs associated with the Greece Golden Visa program include:
Application fee:
The application fee for the Greece Golden Visa is €2,000.
Legal fees:
You may need to pay legal fees to a lawyer to help you with the Greece Golden Visa application process.
Real estate fees:
If you have chosen real estate investment, you must pay additional fees, such as property taxes, notary fees, and registration fees.
Maintenance costs:
You must also factor in the maintenance costs of the property, such as utility bills, property management fees, and repairs.
Documents Required for Greece Residency by Investment
A successful application for the Greece Golden Visa Programme necessitates the following materials:
- Two copies of the application form are required
- Four recent passport-style photographs in colour
- Copy of a legitimate passport or other travel documents accepted by Greece
- A charge paid and acquired via the “e-Paravolo” platform.
Approximately €500 for residence permits with a maximum duration of five years.
- On the “e-Paravolo” platform, a processing charge was paid and received.
The printing of the distinct document (electronic residence permit) costs approximately €16.
- Certification by an insurance company for hospitalisation and medical care expenses;
Insurance contracts executed outside of Greece, so long as they specify coverage for the duration of the interested party’s stay in Greece, are valid in Greece.
- Insurance policies that were signed in Greece.
In certain instances, authorities may require additional documentation.
Conclusion
The Greece Golden Visa program is an excellent opportunity for investors and their families to obtain a residence permit in Greece and enjoy all that the country has to offer. The program offers several investment options, including real estate, government bonds, and corporate shares, and provides a range of benefits, including easy travel, access to education and healthcare, and business opportunities. If you are considering the Greece Golden Visa program, be sure to research the investment.
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