Greece - Golden Visa - Touchstone Lifestyle

Greece - Golden Visa

The Greece Golden Visa is a residency-by-investment program that allows non-EU citizens to obtain Greek residency by investing in real estate or other assets in Greece

Program Overview:

The Greek Golden Visa program is an initiative introduced by the Greek government to attract foreign investors, entrepreneurs, and high-net-worth individuals by offering them residency permits in exchange for specific investments in Greece.

Basically, it provides a pathway for non-EU citizens and their families to obtain residency in Greece by investing in real estate, business, or other qualifying sectors of the Greek economy.

Program Benefits:

Right To Live in Greece
Visa-Free Travel With Greece Residence Permit
Family Reunification
Low Investment Threshold in a Promising Real Estate Market
The Double Taxation Treaty

Eligibility:

In order to qualify for a Golden Visa in Greece, you must meet the following requirements:

Be a non-EU/EEA country citizen
Be at least 18 years of age
Have a clean criminal record
Have medical insurance for yourself and your family
Be of good character

As of 2021, you no longer need to visit Greece in person in order to start your application.

Investment Options:

Real Estate Investment

A minimum of €250,000 to purchase a real estate property in Greece except in municipalities eg: Athens, Thessaloniki, Mykonos, and Santorini. This can be invested in one or across multiple properties.
A minimum €500,000 to purchase a real estate property in municipalities eg: Athens, Thessaloniki, Mykonos, and Santorini as of July 31st, 2023. This needs to be invested in one (1) single property.
10 years of a lease agreement, whether signed for hotel accommodations or furnished tourist residences in integrated tourist resorts

Other Investment Options

A minimum of €400,000 investment eg:

Greek government bonds
Bonds or shares of real estate investment companies in Greece
Shares and bonds of venture funds and private equity which have headquarters in Greece

Family Inclusion:

Under the Greece Golden Visa program, family inclusion is an essential aspect, allowing the primary applicant to extend residency benefits to immediate family members. The program typically includes provisions for including the following family members under the same residency permit as the main applicant:

Spouse:

The spouse of the primary applicant is eligible for inclusion in the Golden Visa, enabling them to reside and enjoy the same rights and benefits as the main applicant.

Children:

Dependent Children: Typically, dependent children under a certain age limit specified by the program guidelines can be included in the Golden Visa. Therefore this usually covers biological children, adopted children, or stepchildren.

The benefits of Greece Golden Visa.

Launched in 2013, the Greek Golden Visa Program grants a five-year residence permit in exchange for as low as a €250,000 real estate investment in Greece.

You can include your family in the residency program. The Greek Golden Visa allows you to live in Greece and travel across the Schengen region, without a visa.

Residency
Rights

Successful applicants and their families receive residency permits, usually valid for five years or more, allowing them to live in Greece and move freely within the country.

Access to
Services

Golden Visa holders and their families gain access to public services, including education and healthcare, similar to Greek citizens. Ensures access to essential public services and facilities within Greece, enhancing the quality of life for residents.

Family
Inclusion

Immediate family members, including spouses and dependent children, can be included in the Golden Visa, allowing them to reside under the same permit as the primary applicant.

Investment Options

Investors can qualify for the Golden Visa by making a minimum investment in Greek real estate, which can be residential or commercial property.

FAQ's

Can I get Residency if I buy a house?

Yes, you can get a residence permit in Greece if you buy a house. However, the house you’re going to buy should be €250,000 or €500,000 minimum (depending on the location) to be able to qualify for Greece residency. If the house you’re buying costs less, you’ll not be able to apply for Greece Golden Visa program.

How do I get permanent Residency?

Greece Golden Visa is one of the most popular methods to get permanent residency in Greece. You don’t have to live in Greece to maintain your residency status. However, if you want to apply for citizenship, you should live in Greece most of the year. If you do, you can be eligible to apply for citizenship at the end of seven years. To get citizenship, you’ll need to pass a language and culture test.

How do I get Citizenship?

To obtain Greek citizenship by investment, you must first make a significant financial investment in the country, such as purchasing real estate or making a business investment. The exact amount required varies, but it is generally around €250,000. After completing the investment, you can apply for residency in Greece, and once you have been a resident for seven years, you can apply for citizenship.

Who is considered family members?

According to the country’s law, family members of foreign investors entering Greece are:

Spouses,

The direct descendants of the spouses, who are under the age of 21,

The direct relatives of the spouses in the ascending line.

Can I purhcase a commercial property?

The country’s law states that €250,000 or €500,000 (depending on the location) must be the stated price on the contract. It does not distinguish between commercial and residential properties.

Do I need to travel to Greece to apply?

Thanks to a change made in the Greek Golden Visa program on December 23rd, 2020, you can now make a remote application for Greek Golden Visa program. You need to provide your law firm in Greece with a Power of Attorney (PoA) to be able to do this. How long do I have to live in Greece?

This program doesn’t require the investor to live there. However, if you wish to apply for citizenship, then you have to live there for seven years.