In recent years, the Greece Golden Visa Program has become one of the most attractive residency-by-investment options in Europe. This program allows non-EU investors to obtain a renewable five-year residence permit by investing in Greek real estate.
Below, we explore the key details of this popular immigration route.
Main Conditions for Eligibility
To be eligible for the Greece Golden Visa, an applicant must:
- Hold a non-European nationality.
- Be at least 18 years old.
- Have no criminal record.
- Hold valid health insurance for themselves and their family in Greece.
Investment Options
As of September 2024, the minimum investment required depends on the property’s location:
- €250,000: For specific properties, such as converting commercial real estate to residential or restoring listed buildings.
- €400,000: For purchasing a residential property of at least 120 square meters in designated areas.
- €800,000: For purchasing property in densely populated regions like Athens, Thessaloniki, or islands with more than 3,100 residents.
Benefits of the Greece Golden Visa
- Renewable 5-Year Residency: Residency is extendable as long as the investment is maintained.
- Visa-Free Travel in Schengen Zone: Freely travel to all Schengen member states.
- Family Inclusion: Includes spouse, children under 21, and dependent parents.
- No Minimum Stay Requirement: There is no legal obligation to reside in Greece permanently.
Pathway to Citizenship
After 7 years of continuous residency (minimum 183 days per year), and passing Greek language and culture exams, applicants can apply for Greek citizenship.
Steps to Apply
- Select Suitable Property: Based on budget and investment goals.
- Prepare Required Documents: Including valid passport, health insurance, and criminal record certificate.
- Submit Application: Through a legal representative in Greece.
- Receive Residency: Upon approval, a five-year residence permit is granted.
Important Notes
- Rental Income Allowed: The investor may lease the purchased property.
- No Physical Presence Required: No need to be in Greece during the application process.
- Tax Benefits: If not a permanent resident, foreign income is not subject to Greek tax.
Conclusion
The Greece Golden Visa Program, with its flexible investment options and residency advantages, is an ideal opportunity for individuals seeking to live in Europe. Given the recent changes, it is highly recommended to consult legal and financial advisors to determine the best course based on your individual circumstances.
