Greece Golden Visa Program – Eligibility, Investment Option, Application Process and Benefits

Investment Options for the Greece Golden Visa

• Greece is a country that has been attracting a lot of attention from foreign investors due to its Greece Golden Visa program. This program provides foreign investors with the opportunity to obtain a residence permit by investing in the country.
• The Greece Golden Visa program has been in place since 2013 and has been popular with investors from all over the world. It is a great way for investors to gain access to the European Union and enjoy the many benefits of being a resident of Greece.
• There are several investment options available to investors who want to apply for the Greece Golden Visa. In this blog post, we will explore the investment options for the Greece Golden Visa.

Overview of the Greece Golden Visa Program

• Before we dive into the investment options for the Greece Golden Visa, let’s first take a brief look at the program. The Greece Golden Visa program is a residency-by-investment program that was launched in 2013.
• The program allows non-EU citizens and their families to obtain a five-year residence permit by investing in Greece. The investment can be in the form of real estate, business, or financial investment.
• The Greece Golden Visa program is considered to be one of the most attractive residency programs in Europe due to its low investment requirements and fast processing times.

Importance of Purchasing Real Estate for the Greece Golden Visa

• One of the investment options for the Greece Golden Visa is the purchase of real estate. This option is the most popular among investors because it is the easiest and most straightforward way to obtain a residence permit in Greece.
• In fact, 90% of all Greece Golden Visas have been granted to investors who have purchased real estate. Purchasing real estate is also a great way to invest in a tangible asset that has the potential to appreciate in value over time.

Eligibility Criteria for the Greece Golden Visa Program

• To be eligible for the Greece Golden Visa program, investors must meet certain criteria. These include:
  • The investor must be a non-EU citizen.
  • The investor must be at least 18 years old.
  • The investment must be made by the investor or a legal entity in which the investor holds the majority of shares.
  • The investment must be made with funds originating from outside of Greece.
  • The investment must be maintained for at least five years.
  • The investor must not have a criminal record.
  • The investor must have valid health insurance.
  • The investor must have sufficient funds to support themselves and their family.

Investment Options for the Greece Golden Visa

• As mentioned earlier, there are several investment options for the Greece Golden Visa. Six of them are related to the purchase or rental of real estate. Let’s take a closer look at each of these options.

• Real estate purchase €250,000+

  • Greece offers several investment options for foreign investors who wish to obtain a Golden Visa. One of the most popular and straightforward options is the real estate purchase option, which requires a minimum investment of €250,000. This investment option has become a popular route for foreign investors who are looking for a stable investment opportunity while obtaining residency in Greece.
  • The real estate purchase option for the Greece Golden Visa requires the investor to purchase real estate property in Greece that is worth at least €250,000. The property can be either residential or commercial, and it can be located anywhere in Greece. The investor must prove that they have made the purchase and paid for it in full before applying for the Golden Visa.
  • To ensure that the property is eligible for the Golden Visa program, the investor must ensure that it is free from any encumbrances or legal disputes. The property must also be located in an area that is suitable for residential or commercial purposes, and it must meet all the necessary building regulations and standards.
  • The investor must also provide proof of the purchase of the property, such as a purchase agreement or a notarial deed. The investor must also provide proof of payment, such as a bank transfer receipt or a cashier’s check. Once the property has been purchased and all the required documentation has been submitted, the investor can apply for the Greece Golden Visa.

• Real estate lease or timeshare €250,000+

  • Another investment option for the Greece Golden Visa is a real estate lease or timeshare with a minimum investment of €250,000. This option allows investors to lease or enter into a timeshare agreement for a property in Greece for a minimum duration of 10 years.
  • The property must be either residential or commercial, and it can be located anywhere in Greece. The investor must prove that they have entered into a legally binding lease or timeshare agreement for the property before applying for the Golden Visa.
  • Similar to the real estate purchase option, the property must be free from any encumbrances or legal disputes, and it must meet all the necessary building regulations and standards.

• Investment in real estate development projects

  • Investors can also choose to invest in real estate development projects in Greece to qualify for the Golden Visa.
  • This option requires a minimum investment of €400,000 in a development project, which can include the construction, renovation, or expansion of existing properties. The investment must be made in a development project that is approved by the Greek government.
  • The investor must provide proof of their investment in the development project, such as a bank transfer receipt or a cashier’s check. They must also provide documentation showing the approval of the project by the Greek government.

• Capital investment in Greek businesses or companies

  • Another option for the Greece Golden Visa is a capital investment in Greek businesses or companies.
  • This investment option requires a minimum investment of €400,000 in shares of a Greek company or €800,000 in corporate bonds or shares of a real estate investment company.
  • The investor must provide proof of their investment in the business or company, such as a bank transfer receipt or a cashier’s check.

• Investment in government bonds

  • Investors can also choose to invest in Greek government bonds to qualify for the Golden Visa.
  • This option requires a minimum investment of €400,000 in Greek government bonds with a maturity of at least three years.
  • The investor must provide proof of their investment in the bonds, such as a bank transfer receipt or a cashier’s check.

• Deposit in a Greek bank

  • The last investment option for the Greece Golden Visa is a deposit in a Greek bank.
  • This option requires a minimum deposit of €800,000 in a Greek bank for a fixed term of at least one year.
  • The investor must provide proof of their deposit, such as a bank transfer receipt or a cashier’s check.
• In conclusion, the Greece Golden Visa program offers several investment options for foreign investors who wish to obtain residency in Greece. These options range from real estate purchases and leases to investments in businesses, development projects, government bonds, and bank deposits. With a variety of investment options available, investors can choose the route that best suits their financial goals and objectives.

Application Process:

• Once the investor has chosen their preferred investment option and completed the required investment, they can proceed with the application process for the Greece Golden Visa. The application process generally involves the following steps:

1. 1. Preparation of documents: The investor must gather all the necessary documents required for their Golden Visa application. This includes proof of investment, passport copies, proof of medical insurance, a clean criminal record, and any other required documents depending on the chosen investment option.
   2. Translation and authentication: All documents must be translated into Greek and certified by the Greek authorities or an authorized translator. Additionally, some documents may need to be authenticated through the Apostille process or other legal methods, depending on the country where the documents were issued.
   3. Submission of application: The investor must submit their Golden Visa application, along with all the required documents, to the appropriate Greek authorities. This can be done either in person or through a legal representative or authorized agent.
   4. Biometrics and interview: The investor and their family members, if applicable, must provide their biometrics (fingerprints and photographs) at a Greek consulate or embassy in their home country or at the immigration office in Greece. They may also be required to attend an interview with the Greek authorities.
   5. Application processing: The Greek authorities will review the application and conduct background checks on the investor and their family members. This process can take several months to complete.
   6. Issuance of Golden Visa: If the application is approved, the investor and their family members will be granted a Greek Golden Visa, which allows them to live, work, and travel freely within the Schengen area. The initial Golden Visa is valid for five years, and it can be renewed indefinitely, provided that the investment is maintained and other requirements are met.
   7. Permanent residency and citizenship: After seven years of continuous residence in Greece, Golden Visa holders may be eligible to apply for permanent residency. After 10 years of continuous residence, they may be eligible to apply for Greek citizenship, provided they meet other requirements, such as language proficiency and integration.

• It is important to note that the Greece Golden Visa program does not offer a fast track to citizenship, and investors must meet the standard residency requirements to be eligible for permanent residency and citizenship.
• However, the Golden Visa program provides a valuable opportunity for investors and their families to secure long-term residency in Greece and enjoy the benefits of living and working in the European Union.

Benefits of Greek Golden Visa

• Once you have secured the Greek Golden Visa, you and your family can enjoy several benefits:

1. 1. Freedom of movement: The Greek Golden Visa grants you and your family members the right to live, work, and travel freely within the Schengen area, which consists of 26 European countries. This allows you to explore new business opportunities and enjoy a high quality of life in Europe.
   2. Access to education: With the Greek Golden Visa, your children can access high-quality education in Greece and other European countries. They may also be eligible for in-state tuition fees at European universities, making it more affordable for them to pursue higher education.
   3. Healthcare: Greece offers a comprehensive public healthcare system, which is accessible to Golden Visa holders. Additionally, you can access private healthcare services at a relatively low cost.
   4. Business opportunities: As a Greek Golden Visa holder, you can establish and run your own business in Greece, as well as in other European countries. This provides you with access to a large market and numerous opportunities for growth and expansion.
   5. Tax benefits: Greece offers several tax incentives to attract foreign investors, such as a reduced tax rate on dividends and capital gains for non-Greek residents. Additionally, there is a special tax regime for high-net-worth individuals who transfer their tax residency to Greece.
   6. Path to permanent residency and citizenship: After seven years of continuous residence in Greece, you may be eligible to apply for permanent residency. After ten years of continuous residence, you may be eligible to apply for Greek citizenship, provided you meet other requirements such as language proficiency and integration. Obtaining Greek citizenship would grant you and your family members all the rights and privileges of European Union citizenship, including the ability to live, work, and travel freely throughout the EU.

• The Greek Golden Visa program offers significant advantages for investors and their families, making it an attractive option for those seeking to establish a foothold in the European Union.
• It’s essential to work closely with a knowledgeable legal representative or authorized agent who can guide you through the application process and help you make the most of this valuable opportunity.