One of the most sought-after investment visa programs in Europe is the golden visa greece for Greece. This visa is granted to non-EU citizens, who have made a significant contribution in the Greek economy. There are many investment options available, but the most popular is to purchase real estate that is at least 25% of a million.
Golden Visas, issued by EU member states such as Greece, are highly sought after as they could lead to citizenship and access to the EU.
The Greece Golden Visa provides immediate residency for five years to the investor and their immediate family members. It also allows them to travel free in the Schengen Zone.
Who is eligible for a Greece Golden Visa
The following are the eligibility criteria for a Greek Golden Visa
- You must be at least 18 years old.
- In any country where you live, you must have no criminal record.
- It is necessary to make substantial investments in Greece (see below).
- You must have health insurance from a Greek company.
Optional Investments for the Golden Visa for Greece
You must make the following investments to qualify for a Golden Visa for Greece:
- Buy a property that is worth less than EUR250,000
- For a minimum of 10 years, sign a lease agreement for a hotel or other tourist establishment
- A minimum capital investment of EUR400,000 is required to establish a Greek company.
- Make an investment of EUR400,000 in Greek government bonds.
- You can invest EUR400,000 in bonds or shares in real estate investment companies.
- Deposit EUR400,000 in a Greek bank
- You can invest EUR800,000.
The benefits of the Greek Golden Visa
The most competitive Golden Visa in Europe is the Greek Golden Visa. It comes with the following benefits:
- The threshold investment options in EU countries with Golden Visa routes are lower than those in other EU countries.
- The visa can be extended to include family members such as your spouse (unmarried) and children under 21 years old. Dependent parents can also be included if you or your spouse are not present. You may be able to include your child in the Golden Visa application if they are over 21 but not older than 24 and a student.
- Your family members and you will be able to travel visa-free to the Schengen Zone.
- To renew your residence permit, you do not need to reside in Greece for more than a year.
- After you purchase your property, you can rent it out.
- After seven years of residency, you can apply for Greek citizenship. You can apply for Greek citizenship after seven years of residence in Greece.
- It is possible to live, work and invest in Greece.
- Greek healthcare and education are available to you
The validity of the Greece Golden Visa
The Golden Visa for Greece can be renewed for an indefinite period of five years, provided you keep the investment.
You can apply for Greek citizenship if you decide to stay in Greece after seven years of continuous residency.
What is the minimum time you must live in Greece to renew your Golden Visa?
You don't need to reside in Greece to renew your residence permit, unlike most countries that issue Golden Visas. It can be renewed every five years as long as your investment has not been lost.
You must provide evidence that the real property is still yours or a solemn declaration from the responsible representatives to renew your residence permit.
Is it possible to obtain citizenship in Greece by investing?
Yes, you can become a Greek citizen through an investment in Greece and the issuance of the Golden Visa. You cannot apply for Greek citizenship if you don't live in Greece and pay taxes. To be eligible for citizenship, you must have lived in Greece for seven years.
You must also be able show that you have connections to Greece and have some knowledge of the Greek language.
How do I apply for a Greece Golden Visa
Apply for a Greek Golden Visa from the Alien and Immigration Department of the Decentralised Authority in Greece. You must first apply for an entry visa to Greece at one of the Greek Consulates or Embassies abroad. Here is a summary of the Golden Visa application process:
- Apply for a Greek visa at an Embassy/Consulate.
- You can enter Greece to finalize your investment. This step is entirely up to you.
- Gather the necessary documents to obtain a Greek Golden Visa.
- Send the documents to the local Alien and Immigration Department.
- Wait for your visa to be processed. Usually, you will hear back within three months.
- If you are deemed positive, you will need to return to Greece to submit your biometric data.
- A Golden Visa residence permit will be issued to you, and it will be valid for five year.
What documents are required to apply for a Greece Golden Visa
When applying for a Greece Golden Visa, the following documents are required:
- Recent passport-size photos of you. You must ensure that they comply with Greek visa photo requirements.
- A copy of your passport is required. Your passport should contain the required entry visa.
- You must show proof that you have paid the applicable government fees.
- You must show proof that you have obtained Greek health insurance for yourself and your family.
- You must provide proof of funds.
- You may also need additional documents depending on the type of investment, such as:
- To purchase real estate
- A contract of purchase that attests that there are no conditions and exemptions in the purchase. It also states the total cost of the purchase and the payment method (it must be paid in full via credit in an institution in Greece or by credit transfer).
- The accountable Land Registry must provide proof of contract transfer
- The Land Registry issues a certificate proving that there was no obstruction to the purchase.
- You can rent a hotel or other tourist establishment.
- i) A timeshare contract for a minimum of five years, which should include the following:
- The annual price is the same.
- ii) A certificate of transfer registration from the Land Registry.
- iii. A certificate issued by National Tourism Organisation (EOT), confirming that it has received the appropriate certification.
- been notified of the conclusion of this particular timeshare agreement.
- To invest in a company
- Documents containing details about the company that received the investment (either established or not) must include the name, type, and share-holders.
- Document detailing the investment project
- The location of the investment project
- The investment budget and financing structure
- The timeline that details the execution of the investment
- Predictions of the results for the first five year investment (feasibility analysis and cash flow forecast).
- A document that details the job creation potential of the investment
- A brief CV
- Your position in the investment venture
- Other documents may be requested by the authorities.
Guidelines for document preparation:
- You must submit documents that are translated into Greek by the Translation Service of Athens' Ministry of Foreign Affairs, Greece or an attorney who is a member of a Greek bar association.
- If your country is a member of the Hague Convention, the Apostille Stamp must be used to certify the documents.