Greece Golden Visa Program

About Greece's Golden Visa Program

Live by the sea and travel across Europe without visas

Greece has a state Greece Golden Visa Program, which offers foreigners residence permits by investment. Since 2014, the Greek government has approved about 10,000 investors’ applications.
Program participants get residence permit cards valid for five years. Greece is the only EU country to issue first residence permits with such a long validity period. In comparison, Spain and Portugal issue their first residence permits for two years, and other countries — for a year.

Investors don’t have to live in the country, have any proficiency in the Greek language or take a history exam.
Law No. 4251 dated 1.04.2014 regulates the requirements of the Greece Golden Visa Program.

 

Conditions of the Greece Golden Visa Program

Investors choose between six investment options to participate in the Greece Golden Visa Programme. The most popular option is purchasing residential or  commercial real estate for at least €250,000. Investors can rent out the properties and sell them in 5 years to return the invested money.
It’s not necessary to live in Greece to maintain residency.

An investor becomes a Greek tax resident if they spend more than 183 days a year in the country. In this case, the new tax resident becomes eligible for incentives — to pay a flat tax of €100,000 per year on the global income. The investor’s close relatives can also benefit from the incentives and pay €20,000 annually.

And we’ll keep you updated, so you always know how your sale, buy, rent or let is progressing. You’ll receive detailed feedback after viewings, plus we’ll call at least once a week with an update. Whatever happens, you’ll know exactly what’s going on.

– 6 options

Available investments under the Greece Golden Visa Program.

– 5 years

Holding period before returning the invested money under most options.

Requirements for program applicants

Investor
Over 18
No criminal records
Legal income sources
Passed Due Diligence

Spouse
Or a partner if a domestic partnership agreement was registered and signed in Greece

Children
Under 21
Not married
Under the investor’s custody

Parents
No age limits

Benefits of the Greece residence permit

1. Freedom of travel — 30+ visa-free countries
Greek residents can visit the Schengen and EU countries without visas. The allowed period of visa-free stay is 90 days out of 180.
2. Choice of the place of living: the country of citizenship or Greece
Investors are not obliged to live in Greece to get and keep a residence permit.
3. Prospect of Greece citizenship
The investor can get permanent residency after five years of living in Greece and apply for citizenship after two more years.
4. European education for children
Investors’ children can study at Greek schools and universities without getting a special residence permit for students.
5. Tax optimisation
Foreign investors can benefit from tax incentives and pay a flat tax on global income.

Investment options and expenses

1. Purchasing real estate €277,300+

An investor buys residential or commercial real estate in Greece for at least €250,000. The property can be registered to the investor or a company if registered in the EU, and the investor owns 100% of the shares.

The minimum investment sum might increase if the investor includes a partner without being officially married. In this case, each partner invests at least €250,000, raising the minimum investment sum to €500,000. The increase can be avoided if the partners sign a domestic partnership agreement in Greece.

The total expenses depend on the property value and the number of additional applicants.

Associated costs like banking fees, delivery of documents, and other services depend on the investor’s place of residence and bank tariffs.

2. Renting a hotel or a touristic residence for 10 years €250,000+

3. Purchasing a land plot for construction or agricultural activities €250,000+

4. Timeshare for 10 years €250,000+

An investor concludes a contract, which gives the right to use the property within specific periods, for example, 1st to 30th of August each year for 10 years.

5. Inheriting or receiving property as a gift €250,000+

6. Purchasing securities or depositing money in a bank €400,000+

Individual cost calculation. Getting a residence permit by investment

The calculation includes all associated costs, a payment schedule, and charges for support services for obtaining a Greece residence permit. Investments must be of at least €250,000

Investing in Greek real estate

According to reports from the Bank of Greece, Greek property prices have been steadily growing for the last four years. For example, the prices increased by 10% in the third quarter of 2021 compared to 2019.

Investors often prefer properties in new buildings: their prices grow by 3—4% faster than the secondary real estate market.

The program rules allow investors to rent out properties. Thus, investors can receive additional income during the ownership period. Both short-term and long-term leases are in high demand in Greece. Long-term lease agreements are usually concluded for 3—4 years.

Obtaining a Greece residence permit with Immigrant Invest

We accompany our clients from the first consultation to the residence permit renewal five years later. Immigrant Invest is an official representative of the Greece Golden Visa Program.

We provide extra services: help to buy one more property, register tax residency, add new family members to the program, and prepare documents for obtaining a permanent residence card.

Some Facts about Greece

€250,000

is the minimum investment amount without including associated costs

6+ months

is the time frame for obtaining a Greece residence permit by investment

20%

of the Greek GDP comes from tourism

4 seas

wash the country: Ionian, Aegean, Mediterranean, and Cretan

300+ days per year

are sunny in Greece. The hottest months are July and August

$23,504

was GDP per capita in 2020

10.7 million

is Greece's population. The same amount of tourists visit Greece every year

545 Greek beaches

were awarded the Blue Flag in 2021 for the cleanest waters in the Mediterranean

6%

is the annual growth of property prices in Greece

BB

is the credit rating for Greece, which is assessed as positive

Services

AV Properties offers an array of real estate services for buyers, sellers and property owners. We are specialized in commercial properties, property management for short or long term rental, staging, photography, property renovation and many more.

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