Legality
The Greece Golden Visa Program was launched in 2013 that enables non-EU nationals and their family members to obtain permanent residence permits in Greece, the program is the most sought-after European residency program. Investors in areas with a threshold of EUR 500,000 will only be able to invest in one property, while those in areas with a threshold of EUR 250,000 will still have the option to invest in multiple properties.
Investment Options
All non-EU citizens who conduct an investment activity may apply for a golden visa, one of the opted options is the following.
REAL ESTATE
1
The purchase of real estate property with a minimum value of EUR 250,000, plus the applicable taxes (minimum investment has increased to EUR 500,000 effective 1st May 2023)
HOTEL ACCOMMODATION LEASE
2
10 years agreement in tourist accommodation complexes starts with a minimum value of EUR 250,000
TIME SHARE
3
10 years agreement starts with a minimum value of EUR 250,000
CAPITAL CONTRIBUTION
4
Capital contribution with a minimum value of EUR 400,000
SHARES, BONDS, AND/OR GOVERNMENT BONDS
5
Purchase of government bonds with a minimum acquisition value of EUR 400,000 and outstanding maturity of at least three years at the time of purchase.
CAPITAL TRANSFER
6
Term deposit of a minimum value of EUR 400,000 to a domestic credit institution, for at least one year, with a standing order for renewal.
Eligibility
To qualify for residency by investment, the main applicant must meet the following criteria.
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Be of outstanding character.
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18 years or above of age
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Hold no criminal record.
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Have excellent health.
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Have a high personal net worth.
Eligible Dependent
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Spouse
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Children below 21yrs of age.
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Parents above 55yrs of age.
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Siblings
Timeline
INITIAL CONSULTATION
ONBOARDING
Our Investment Migration Advisors will have detailed discussions with you to understand your need, the budget and goals, they will discuss pros and cons of the proposed RBI “Residency by Investment” programs.
Our Investment Migration Advisors will propose a program that suits your investments and is aligned with your goals (i.e., Global Mobility, Kids Education, Access to Healthcare Tax Planning, Asset Protection, Plan B etc.) and share detailed action plan that is carefully designed as per your individual situation. This includes complete costing (i.e., investment required, consultation fees, government fees, due diligence cost “if applicable”, tax representation, application/processing fees residence renewal of your residence cards etc.),
INITIAL DUE DILIGENCE
We collect basic documents and perform initial Due Diligence check to eliminate the risk of failure. In case if we find any risk involved that causes application rejection, we offer a suitable alternative or decline to proceed further with your consent.
COLLECTION OF DOCUMENTS
You sign the retainer, and our Investment Migration Advisors will assist you on selecting the property or other approved investment option, obtaining the document(s) required as per concerned authority, dedicated staff will be assigned throughout the application process that will assist you on services (i.e., sourcing and viewing of the property, obtaining tax number, opening bank account, purchasing of the property, legalizing/notarizing the documents and filling up the application form etc.)
APPLICATION SUBMISSION
Complete application including purchase deed of the property (or the confirmation from the bank for funds transfer such as in case of Türkiye), application forms and legalized documents are submitted with the concern Government agency responsible for migration.
GOVERNMENT DECISSION
Upon clarence of the Due Diligence, the Government approves the application, and you are advised to proceed with required biometrics depending on the country offering you the Residency by Investment (unlike the Caribbean, Turkish Citizenship by Investment and European Residency / Golden Visa programs require you to make investments prior to submission of the application).
ISSUANCE OF GOLDEN VISA & RESIDENCE PERMIT
Once the Government approves the application (the naturalization certificates and the passport(s) are issued in case of Türkiye or the residence cards are issued in case of Residency by Investments.
Our services are not limited until you receive the required Citizenship and Passport, our after sales team remain in touch with you until your initial investment is returned depending on the investment route (i.e., Government approved real estate option, investment in Government approved bond etc.). We help you renew your residence permit & second passport(s), assist you further in case of a lost passport or passport replacements in case if all pages have been used, and much more.
About Country
Greece is one of the world’s top holiday destinations, that has become a major European business center, and is considered to be the birthplace of Western civilization, its history dates back to 800 BCE, Greece is a member state of the EU, that offers its residents and citizens a number of reassuring benefits including high levels of safety and security, excellent education opportunities, robust healthcare options, and a dependable rule of law.
This golden visa is a pathway to Greek citizenship, but one must fulfill the residency condition of seven years in the country (according to Law 3284/2004). In addition, you must also be able to prove you have ties to the country and knowledge of the Greek language and culture, at least on a basic level.
Visa Free List
The list of countries can vary due to government policies, and access to these countries may be restricted or subject to changes.
FREQUENTLY ASKED QUESTIONS
WILL I BE REQUIRED TO TRAVEL TO GREECE DURING THE PROCESS?
Yes, the applicant must visit Greece for selection of property, opening bank account, and biometrics. There is no requirement of physical stay during 05 years of residence permit. However, if you are looking to obtain citizenship than you must live in the country.
WHAT IS THE MINIMUM CONTRIBUTION/INVESTMENT REQUIRED FOR THE RESIDENCE PERMIT?
There is not option of contribution while obtaining the Residency in Greece, the lowest possible investment in real estate starts with EUR 250,000 plus other related fees.
WHAT ARE THE CONTRIBUTION/INVESTMENT OPTIONS?
Presently, there are six qualifying investments: -REAL ESTATE investment starts with a minimum value of EUR 250,000 -HOTEL ACCOMODATION LEASE 10 years agreement in tourist accommodation complexes starts with a minimum value of EUR 250,000 -TIME SHARE 10 years agreement starts with a minimum value of EUR 250,000 -CAPITAL CONTRIBUTION with a minimum value of EUR 400,000 -SHARES, BONDS, AND/OR GOVERNMENT BONDS with a minimum acquisition value of EUR 400,000 -CAPITAL TRANSFER term deposit with a minimum value of EUR 400,000
HOW LONG DOES IT TAKES TO OBTAIN RESIDENCE PERMIT IN GREECE?
Normally it takes 2 months, however depending on each applicants own criteria the processing time may vary.
WHAT IS THE VALIDITY OF GREECE RESIDENCE PERMIT?
Residence permit that is valid for five years, renewable. Permit holders can live in the country as much as they wanted and are allowed to travel to Schengen area for 90 days in 180 days.
WHAT ARE THE ELIGIBILITY CRITERIA?
Principle applicant must be over 18 years of age or more must, be of no criminal records, principal applicant can include spouse, and unmarried children financially dependent on him or her if they are below 21 years of age, the parents that are fully dependent on principal applicant may also be include.
CAN THIS RESIDENCE PERMIT BE CONVERTED TO CITIZENSHIP?
Yes, the investor needs to live in the country for 7 years in order to become a Greek citizen. In addition to physical stay all applicants are required to pass language proficiency, history, and geography. For further information please contact one of our experts.
DO I NEED TO PAY TAX?
No, if you are not residing and not generating income in Greece. However, if you chose to reside in Greece you will be required to pay minimum of 15% tax on annual income up to EUR 12,000 generated within the country (for instance rental income in case you rent out your property.
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