How to get Greece golden visa.
The Golden Visa of Greece explains how to get a residence visa via investment.
The Golden Visa of Greece is a scheme run by the Greek government that offers residency permits in exchange for financial investments.
In return for making an investment in real estate, public stocks, Greek enterprise, or creating a bank account, the investor and their family are granted residency in Greece.
Those who are granted a Golden Visa are exempt from the requirements of living in Greece and passing a Greek language exam.
Those eligible for a Greece golden visa were outlined, as was the application process.
Greece golden visa
What exactly is meant by the term “Greek residency by investment”?
The term “golden visa” refers to a residency permit that is obtained via investment. The Golden Visa Program in Greece, which is funded by the government, is responsible for regulating the procedures under which investors get residence visas.
Analysis of housing costs in relation to investment initiatives
Golden Visa Programs
Since 2014, participants have been able to take advantage of the Greece Golden Visa Program. There have already been thirty thousand persons successful in obtaining a golden residency permit.
Greece is the only nation in the world that grants first-time visa applicants a golden visa valid for a full five years.
For instance, the initial residence permit granted by investment card in Portugal and Spain is valid for a period of two years. In order to renew the validity of the residence permit, the holder must complete documentation and pay state charges.
The applicant must spend at least 250,000 euros in the economy of Greece in order to be eligible for a residence visa in that country.
They have the option of purchasing a property, making a deposit in a bank in Greece, or investing in other assets. The majority of investors buy a property with the intention of renting it out in order to generate passive income.
Within a period of three months, the investor and their immediate family members may be issued residence permission cards.
Comparisons between the Golden Visa for Greece and other forms of residency permits
- Residence permits based on capital contributions
- Permits to remain in the country in other categories
- The length of time that the residency permit is valid for
- 5 years
- 1—2 years
- Annual required amount of time spent inside the borders of the nation
- No
- 183 days a year
- Visa-free travel is permitted inside the Schengen area.
- Yes
- Yes
- Establishing a financial presence in a European institution
- Yes
- Yes
- Including a spouse and any children who are under the age of 18 in the application
- Yes
- Yes
- Including the applicant’s parents and any adult children who are less than 21 years old
- Yes
- No
- Profits from the income tax
- Yes
- No
- Employement in Greece
- No
- It is dependent on the kind of residency permit that you have.
- Ultimate comparison
- of Golden Visa
- programs
The advantages of having a residency permit in Greece
Visa-free travelling. Investors who have a residence permit from Greece may go to any other Schengen country without the need for a visa and can stay for up to 90 days out of every 180.
All of the Advantages of the Golden Visa Program in Greece
Being a resident of Greece. Even if the borders are locked, however, the investors and their families are still allowed to enter the nation. At any point in the year, you might visit Greece for a vacation. In the event of an emergency, it is also feasible to make arrangements for a “safe haven” in Greece and go there.
Tax planning and minimization. Rates of taxation that are more favorable are made available to the inhabitants of Greece. The investor is subject to a single tax rate of 100,000 euros per year on their total annual income.
The investor’s immediate family members are eligible to take advantage of the favorable rates as well, and the annual fee is €20,000.
use the products and services offered by Greek banks. An investor is able to utilize any and all financial services in Greece, as well as create accounts and make deposits in the country.
Obtaining citizenship in the EU. When an investor has been residing in Greece for a total of five years, they are eligible to apply for permanent residency. Another two years after that, they are eligible to apply for citizenship.
Citizens of Greece are permitted to hold citizenship in more than one country at the same time. Investors are not required to give up their first citizenship if the nation from which they originally hail does not mandate that they do so.
Greece resident permit — medical treatment in Europe
Residents of Greece are able to get high-caliber medical care inside the nation. Take, for instance, the situation at the Athens Medical Center. The General Hospital, the Paediatrics Centre of Athens, and the Maternity Clinic are some of the amenities that are available there.
Patients may use any and all of the center’s services at any time, day or night, throughout the whole year. Athens Medical Group, Inc. is cited as the source.
Who is eligible to get a residence visa by making an investment in Greece
A golden visa for Greece may be requested by anybody who is at least 18 years old and does not have a significant criminal history.
Family members of the investor who are eligible to be included in the application:
a spouse or partner who has an agreement to live together that has been signed and is registered in Greece;
unmarried children under 21;
children of the applicant’s spouse or partner who are under the age of 21 and who have not married, provided that the applicant possesses legal parental rights over them;
spouses’ parents.
Applicants are responsible for preparing and submitting all of the necessary documentation, as well as successfully passing the state’s Due Diligence check.
Obtaining residence in Greece via property purchase
The acquisition of real estate in Greece is by far the most common way for applicants to participate in the Golden Visa Program in Greece. The investor has the option of purchasing either residential or commercial real estate in Greece. The other choices demand a total investment of €400,000, whereas real estate investments just require €250,000.
€250,000+
The minimal amount of money required to apply for a golden visa in Greece
After then, the property is available for rental. Ten to twelve percent is the minimum return that may be expected from renting out a property. After five years, the investor will have the opportunity to recoup their investment by selling the property.
The process of purchasing a home typically takes a total of two months to complete. Lawyers from Immigrant Invest may assist in making property selections and registering sales and purchases of real estate.
Residence permits in Greece may be obtained via property investments.
Obtaining a residence permit to live in Greece via the purchase of property
Purchasing either residential or commercial property as an investment. A person or a legal body may make a purchase of a real estate in any part of Greece, regardless of the location they choose. The following terms and conditions are applicable when making a purchase via a legal entity:
It is required that the company’s headquarters be situated inside the EU.
The investor is required to have a share in the firm that gives them control.
A person who has either inherited or been given real estate in Greece worth more than €250,000 is eligible to apply for a golden visa under Greece’s residency requirements. They will need to satisfy the requirements of Due Diligence and provide the papers that are specified in the application for the residence permit.
The amount of money that must be invested in real estate is proportional to the number of family members that are included in the application:
- children: the total amount of the investment will not change;
- a spouse: a minimum of 250,000 euros, provided that both parties sign a joint residency agreement in Greece and hold indivisible shares of real estate;
- parents: a minimum investment of 500,000 euros, provided that both parents sign a joint residency arrangement at the same time.
Imagine for a moment that some of the people listed on the application do not sign a communal housing contract with the primary applicant. In such scenario, the amount of the minimum investment is raised by a factor of €250,000 for each individual who is included in the application.
acquiring a piece of vacant land. The investor purchases a piece of land on which to eventually construct a home or farm.
The whole cost of the land as well as the labor and materials provided by the construction contractors are included in the investment.
Real estate available for rent. The investor can decide to rent a room in a hotel or an apartment that’s already furnished in a tourist complex as an alternative to purchasing a piece of real estate.
Ten years is the length of time covered by the rental or lease agreement. Before being granted permission to live in the country, the investor must submit a one-time payment.
The typical monthly rent for a three-bedroom apartment ranges from €360 in Lamia to €770 in Corfu. However, the cost may be much lower in other areas.
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