If you’re looking for an ideal destination to enjoy your retirement, Greece stands out as an unbeatable option. With its Mediterranean climate, affordable cost of living, and quality healthcare, the Hellenic country is attracting more and more international retirees. In this article, we explore the advantages of retiring in Greece and how Orience can help you obtain residency with ease.
Why choose Greece for retirement?
Greece offers many reasons to be an attractive destination for retirees:
- Exceptional climate: Mild winters and more than 300 days of sunshine a year.
- Affordable cost of living: Housing, food, and services are more economical than in other European countries.
- Quality healthcare system: Access to public and private hospitals with highly qualified professionals.
- Culture and gastronomy: Historical heritage, paradisiacal beaches, and a healthy diet.
- Tax incentives: Attractive tax regime for foreign pensioners.
Residency options in Greece for retirees
1. Residency visa for individuals with passive income
This visa allows retirees to obtain residency in Greece if they can demonstrate sufficient passive income. The requirements include:
- Minimum income of €2,000 per month (increased for each dependent).
- Private health insurance.
- Proof of accommodation in Greece (purchase or rental of a home).
2. Tax program for foreign pensioners
Greece has implemented a special tax regime for retirees who transfer their tax residency to the country. Benefits include:
- Flat 7% tax on foreign pension income.
- Validity of 15 years under this regime.
- Possibility to pay taxes only in Greece, avoiding double taxation.
3. Golden Visa for investors
Although the Golden Visa is aimed at investors, retirees who wish to purchase property can benefit from this visa if they invest at least €250,000 in real estate in Greece.
Process to obtain residency in Greece
1. Choose the best residency option
Depending on your financial situation and goals, you can opt for the passive income visa, the tax regime for retirees, or the Golden Visa.
2. Gather the documentation
Key documents include:
- Valid passport.
- Proof of passive income or pension.
- Private health insurance.
- Rental contract or property deed in Greece.
- Residency application form.
3. Submit the application
Visas can be applied for at the Greek consulate in the applicant’s country of residence. Once in Greece, it is necessary to register residency at the immigration office.
4. Obtain the residency card
Once approved, you will receive your residency card, which is renewable and allows you to legally live in Greece.
Benefits of residency in Greece
- EU mobility: Ability to travel freely within the Schengen Area.
- Quality of life: Pleasant climate, healthy food, and relaxed atmosphere.
- Ease of settling in: Large community of expats and foreign residents.
- Path to citizenship: After 7 years of continuous residence.
How Orience facilitates your residency in Greece
At Orience, we guide you through every step of the process, offering:
- Personalized advice to choose the best residency option.
- Complete management of procedures and documentation.
- Support in purchasing or renting a home.
- Assistance in obtaining tax benefits for retirees.
Frequently Asked Questions (FAQs)
1. How long does it take to process residency in Greece?
Processing time varies, but generally takes between 2 and 4 months, depending on the visa and documentation.
2. Can I obtain residency if I’m not yet retired?
Yes, as long as you meet the requirements for passive income or invest in real estate.
3. Can I keep my tax residency in my home country?
It depends on the double taxation agreement between your country and Greece. However, if you opt for the tax regime for pensioners, you must pay taxes in Greece.
4. Is it necessary to speak Greek to obtain residency?
It is not a mandatory requirement, but learning Greek can help with integration into society.
5. Can I access public healthcare in Greece?
Residents can register in the Greek public healthcare system, although many retirees prefer to have private health insurance for added convenience.