Greece Golden Visa

Introduction

Greece is the birthplace of democracy and western philosophy. It is one of the oldest civilizations in Europe, with many historical sites, but also a place of natural beauty which beckons you with its emerald shoreline, pine trees, and olive groves. Greeks hold great pride in their traditions and heritage. They welcome you to its shores with the warmest hospitality.

As a full member of the EU, Greece provides a gateway to visa-free travel within the 27 countries of the Schengen Zone.

Investment Requirements / Options

  • Real estate investment starting from €250,000 for the restoration of listed buildings or conversion of commercial properties into residential use, regardless of location.
  • Minimum investment of €400,000 for a single property of at least 120 sqm located in areas outside of Zone A.
  • Minimum investment of €800,000 for properties located in high-demand areas (North, South, and Central Athens, Thessaloniki, Mykonos, and Santorini).
  • Investment of €400,000 in Greek government bonds.
  • Investment of €400,000 in shares or bonds of real estate investment companies operating in Greece.
  • Investment of €400,000 in shares or bonds of Greek companies listed on the stock exchange.
  • A 10-year lease agreement for hotel accommodations or furnished tourist residences within integrated tourist resorts, with a total lease value of at least €250,000.

Important Update -The Greek government has officially increased the minimum investment amounts for the Golden Visa Program, with the real estate threshold rising from €250,000 to €400,000 or €800,000, depending on the property’s location.

Investment Options

You may choose one of the following investment options:

Option 1 – Restoration Projects

Minimum Investment of €250,000: Specialized real estate investment allocated towards the conversion of commercial properties into residential use or the restoration of listed buildings, regardless of location or size.

Option 2 – Investment Thresholds by Zone

Minimum Investment of €400,000: For the purchase of properties in Greece, the investment must be made in a single property with a minimum size of 120 sqm.

Minimum Investment of €800,000: For the purchase of properties in Athens, Thessaloniki, and islands with more than 3,100 inhabitants.

By selling the property and returning the residency card, you are free to leave the programme at any time. It is possible to rent out the property and earn rental income.

Fees

All fees and expenses for the property purchase and the residence card are approximately 8% of the net property price. Real estate taxes on new property purchased is 3.09%.

Qualifying Dependants

As the main applicant, you must be able to prove the source of your funds along with show evidence of employment or income. You can add your spouse as a dependant. Like you, they must be over 18 years of age and be covered by a health insurance policy.

You can also include dependent children under the age of 21 who are eligible to remain in the programme until they turn 24. In addition, you can add your parents or parents in law as long as you are able to prove kinship.

Dual Citizenship

Greece has no restrictions on dual citizenship.

Process Overview

The Greek Golden Visa is a relatively straight forward application process, taking between six and 12 months for you to receive your residency card. This is assuming there are no areas of concern.

Taxation

A resident is not taxed on their worldwide income, only on the income produced in Greece. Rental income from property is taxed at a rate of 15% up to an income of EUR 12,000 and 33% for the amounts over EUR 12,000.

Summary of Key Advantages

Invest in property for as little as EUR 250,000

Obtain permanent residency from day one

Enjoy visa-free Schengen access

Seize an opportunity to live in an EU member state

Secure full family residency for your parents and children up to 21 years old

Take advantage of no minimum residency stay requirements

Experience a smooth application process of 6-12 months to receipt of Residence Permit

Benefit from a pleasant climate coupled with a relaxed lifestyle

Application Process

Month 1

Initial due diligence.

Following the successful screening, we will provide you with a Client Agreement (CA) to review and sign.

Upon receiving the signed agreement and retainer payment, our legal team will complete all necessary government forms and supporting documents.

You will need to execute a sales and purchase agreement with the developer. We will liaise with the property developer and the Hellenic Republic Ministry of Migration and Asylum on your behalf.

Months 1-2

Application review and submission.

Before submitting your documents, we comprehensively review your application to ensure your file complies with the Ministry of Migration and Asylum’s requirements. Our legal team will complete its final checks before submitting the relevant forms.

The Ministry will undertake its own due diligence and reviews all the paperwork. We will continue to work closely with them throughout the process to ensure your application is timely and efficiently processed. After applying, the Ministry of Migration & Asylum will issue a receipt that can serve as a temporary residence permit while awaiting the application decision.

Months 6-12

The Ministry will assess your application, and upon approval, you must make all necessary contributions and pay any applicable government fees. We will then arrange for all relevant residence certificates to be sent out.