Greece is famous for its ground-breaking ancient civilisation, magnificent scenery and Mediterranean cuisine. Located at the juncture between Africa, Asia, and Europe, Greece is among the most attractive European countries for people looking to relocate. A host of stunning islands with glorious beaches and ancient sites make up one-fifth of its total area. The Greece Golden Visa Program delivers all the benefits of EU/Schengen residency along with one of the lowest investment requirements.
Unitary Parliamentary Republic
The Greek government set up its Golden Visa Program in 2013. Between January and June 2020, over 22,500 residence permits were granted to non-EU and non-EEA investors and their families who made a property investment of at least €250,000.
A Greek Golden Visa allows holders to remain in Greece and travel freely within the EU and Schengen for five years as long as they maintain the investment property. Holders do not need to reside in Greece as renewals are possible online. During the application process, investors only need to travel to Greece once to appoint a proxy with an in-person signature.
Investors who wish to go onto applying for a Greek passport need to reside in Greece for at least seven years.
With an affordable real estate property investment requirement, the Greek Golden Visa Program offers fast and easy access to permanent residency in the EU and access to the entire Schengen Area. Investors can reap multiple benefits for themselves and their families:
Children of both spouses below the age of 21
Parents of the spouses
The Greek Golden Visa real estate investment option offers non-EU applicants the possibility to purchase one or more properties worth at least €250,000 in return for a five-year residency permit. Throughout the five years, Golden Visa holders must maintain their investment property.
Apart from purchasing real estate, investors can also purchase a 10-year lease for furnished tourist apartment complexes or for a hotel. Moreover, it is also possible to buy a 10-year time-share agreement for hotel accommodation.
The property can be located anywhere in mainland Greece or on one or more Greek islands. Joint buyers can purchase real estate together.
Applicants can expect the additional costs to amount to 8-10% of the property value.
Only investors who are willing to reside in Greece can apply for citizenship after seven years of doing so. Once Golden Visa holders become Greek citizens, they can resell their property and enjoy all the rights of a Greek passport. Applicants also have to pass a Greek language test.