Considering a strategic move to enhance your financial and personal stability? Greece’s Golden Visa program stands out as a premier choice for investors worldwide. As the world becomes increasingly globalized, the opportunity to live, work, and thrive in various countries has become a sought-after dream for many. With its rich history, stunning landscapes, and strategic location, Greece offers one such program that stands out in the European arena. Known as the “Greece Residency by Investment Program,” this initiative provides a myriad of benefits for investors and their families. In this article, we’ll delve into the program’s specifics, its advantages, and why it might be the perfect fit for you.
Understanding the Greece Residency by Investment Program
Greece introduced its Residency by Investment program in 2013, aiming to boost its economy by attracting foreign investments. Under this program, non-European Union individuals can obtain a five-year renewable residency permit by making a qualifying investment in Greece. The most common form of investment is real estate, but the program is flexible, allowing investments in other sectors of the Greek economy as well.
Criteria for the Greece Golden Visa (Residency Permit)
To be eligible for the golden visa – residency permit, prospective applicants should satisfy the following criteria:
- Be a minimum age of 18 years.
- Possess a clean criminal history.
- Have unrestricted access to enter EU nations.
- Provide evidence of health insurance coverage.
- Ensure their banking institution has a reputable standing.
- Demonstrate evidence of the necessary funds for the requisite investments.
- Show documented proof of the acquired qualifying investment.
Once the application is filed, biometrics will be conducted within Greece. Furthermore, it’s essential to note that the Greek permanent residency permit requires renewal every five years. Although the residence permits are initially valid for five years, they can be renewed indefinitely as long as the investment is retained.
Investment Options to Achieve Greece Residency
To qualify for this program, applicants can choose from the following investment options:
- Real Estate Investments
- A real estate property acquisition with a base value of EUR 250,000. In certain prime locations such as Mykonos, Santorini, Thessaloniki, and several Athens municipalities, the minimum investment stands at EUR 500,000.
- Entering a 10-year lease agreement for hotel amenities or furnished tourist lodging in recognized tourist complexes with a value of EUR 250,000.
- Alternative Investment Avenues
Direct Capital Contributions
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- A minimal EUR 400,000 capital allocation towards a Greek-exclusive real estate investment firm for share capital increase acquisition.
- A capital investment of at least EUR 400,000 into an investment entity for share acquisition or a mutual fund focused on companies based or operating in Greece.
Acquisition of Shares, Bonds, or Government Bonds
- Investment of a minimum of EUR 800,000 in shares or corporate bonds that are listed or traded on regulated Greek markets or multilateral trading platforms.
- A minimal EUR 400,000 investment in mutual funds established in Greece that primarily invest in shares, corporate, or Greek government bonds listed or traded within the country.
Benefits of the Greece Residency Program
- Strategic Location and Mobility: Greece serves as a bridge between Europe, Asia, and Africa, offering strategic business advantages. Once you have a Greek residency permit, you can travel visa-free within the Schengen Zone, comprising 26 European countries.
- Affordable Investment Threshold: The Greek residency program’s €250,000 minimum investment is relatively low compared to other European countries. This provides an affordable gateway to Europe for many investors.
- Quality of Life: Greece boasts a high quality of life, encompassing excellent healthcare, education, and infrastructure. The Mediterranean climate, rich cultural experiences, and famous Greek hospitality further enhance the living experience.
- Potential for Rental Income: If you choose to invest in real estate, there’s potential for rental income, especially given Greece’s booming tourism industry.
- Family Inclusion: The residency extends to the investor’s family, including the spouse, children up to 21 years, and dependent parents of both the main applicant and spouse.
Greece Citizenship through the Golden Visa Program
Dive into a realm of privileges and benefits with the Greece Golden Visa by Investment. A coveted EU membership ticket is awaiting you, granting visa-free travel to over 100 countries and unhindered access to the thriving EU-free market. With this powerful residency card, you can live and invest in the picturesque landscapes of Greece and be granted entry to top-tier Greek education and healthcare systems. But the perks don’t stop here.
The Greece Golden Visa stands out with its 5-year validity, with the unique benefit of unlimited renewals without any actual residency mandate, as long as the investment remains intact. And for those with an eye on a deeper commitment, the gates of Greek citizenship open up after seven years of residence. This path to citizenship offers a chance to weave deeper bonds with Greece, demanding an intimate connection with its rich culture and language. Upon securing citizenship, individuals have the liberty to manage or liquidate their investments, eliminating the need for subsequent visa renewals. The Greek Golden Visa program is primarily viewed as a residency investment initiative rather than a direct route to citizenship by investment. Nevertheless, the avenue towards citizenship is available for those genuinely interested in establishing a life in Greece.
Steps to Secure Your Greek Residency
While real estate is the most popular choice, it’s essential to research and decide what investment type aligns best with your financial and personal goals. It is essential to engage Legal Help. A local attorney can guide you through the legal procedures, ensuring that all documents are correctly prepared and submitted. After identifying the perfect investment, finalize the deal, ensuring that the minimum requirement of €250,000 is met. Once the investment is made, you can submit your application for a residency permit. After the authorities process and approve your application, you and your family can receive your residency permits and embark on your new European journey.
Required Documentation for Greece Golden Visa Application
When applying for a Greece Golden Visa, you’ll need the following documents:
- Completed application form.
- Recent passport-size photos compliant with Greek visa requirements.
- A valid passport with a copy, including the necessary entry visa.
- Evidence of payment for government fees.
- Health insurance proof for you and accompanying family members.
- Verification of available funds.
- Specific documents related to your investment type:
- Real Estate Purchase: A contract showing full payment details, proof from the Land Registry of the transfer, and a certificate confirming no purchase barriers.
- Hotel or Tourist Establishment Lease: A 10-year lease agreement and a National Tourism Organization certificate.
Additional notes
Additional documentation may be required Based on your business and life history.
All provided documents must be translated into Greek either by the Ministry of Foreign Affairs in Athens or by an attorney registered with a Greek bar association. Documentation should be certified by the nearest Greek Embassy or Consulate.
The Allure of the Greece Golden Visa Program
Famed for its stunning landscapes and sun-soaked shores, Greece also promises a robust and competitive Golden Visa program. This program offers a secure haven with excellent education and healthcare and grants rights like visa-free travel across Schengen Zone nations, access to the EU free market, and a high standard of living.
Notably, the Greek government has extended its residency by investment program, allowing investors to lock in property purchases in prime regions at the current €250,000 threshold. Greece’s program is attractive and flexible, with no mandatory residency, lucrative real estate investment opportunities, a favourable tax system, and a clear path to citizenship after seven years. The Greece Residency by Investment Program offers an unparalleled opportunity to gain access to the European lifestyle. By making a sound investment in the beautiful nation of Greece, you can secure a prosperous future for yourself and your loved ones. Whether you’re looking for a new home, a summer getaway, or a strategic business advantage, Greece is the perfect solution for you. CBF’s global experts are poised to guide you through this journey, ensuring a seamless transition to your new residency status. Book a complimentary consultation today.
Don’t miss your chance to tap into these expansive opportunities; the Greece Golden Visa is your golden ticket.
