Greece
In 2014, Greece Golden Visa program. Investments in residential or commercial real estate costing €250,000 are the most popular. The minimum amount of real estate investment required for a residence permit in Greece is the lowest among EU countries. Additionally, the property can be rented out. Investing in real estate for five years will allow the investor to become a permanent resident and sell the property. The Greek language proficiency test and the history exam aren’t required for investors. Renewal of their residence permits does not require them to live in Greece. Real estate in Greece can be purchased by investors for residential or commercial purposes.
Renting out the property is then possible. The investor can sell it and return the money five years later. The investor can own the property. possible to register real estate to an EU-based company in which the investor owns 100% of the shares. It is only possible for a couple to own one property together if each of them invests at least €250,000. As an example, let’s say a couple buys a property for €500,000. If the property was purchased before 2014, it could qualify for the program. The property price must have been at least €250,000 when the investor purchased it or applied for the Golden Visa.
Please note:
According to the new law 5007/2022, the main regulations governing the GV are as follows:
Urban zones with a minimum investment requirement of 500,000€. These areas are:
Athens’ Northern, Central and Southern Sectors and the Municipality of Vari-Voula-Vouliagmeni.
The Municipality of Thessaloniki and the islands of Mykonos and Santorini. In these regions a single propertymust be bought.
If an agreement is signed and a 10% deposit is paid up to the 30th April 2023, one can still buy a property or properties of the value of 250,000 Euros total value up to the 31st December 2023 in the above areas.
The rest of Greece has a 250,000 Euros investment requirement and multiple properties may be bought.
Get Residence in Greece
ADVANTAGES
– By investing in Greece, you become a resident of a European Union (EU) member country.
– Fast processing: For successful applicants, the GIRP is issued within 6 months from the date of submission.
– No language, education, residency or business experience requirements.
– Very flexible investment options.
– Full residence rights in Greece for the applicant, spouse, and children under 21 and parents of the investor and spouse.
– Children have access to free education.
– The GIRP is valid for 5 years and can be renewed for a further 5 years if the investment is still held.
BENEFITS OF LIVING IN GREECE
– Free movement within Schengen countries.
– Cradle of western civilization.
– One of the least polluted regions of the world.
– Spectacular Mediterranean Sea and beaches.
– Unsurpassed quality of life.
REQUIREMENTS
– The applicant must be a Non-EU citizen.
– The applicant must be over 18 years old & in good health.
– Make a qualifying real-estate investment.
– The investment must be held for the entire duration that the residence permit is required.
– Proof that the applicant has no criminal records.
INVESTMENT OPTIONS
– Minimum investment of €250,000 in property. This amount will be increased to €500,000 in major metro areas after May 1, 2023.
– Property can be held Freehold or Leasehold.
– Property can be either Commercial or Residential.
– Investment can be made singly or jointly providing each applicant invests at least the minimum amount.
– The investment can be made personally or through a wholly owned company.
– The investment can be made in a single property or multiple properties providing the combined value of the properties is at least the minimum amount.
– A wide range of high-quality beachfront properties are available in beautiful locations such as Chania, Santorini and Paros.
PROCESS
– Visit Greece to open a local bank account, select property and pay property deposit.
– Transfer funds for property purchase and application fees to Greek bank account.
– Complete property purchase and request application submission date.
– On appointment date submit application documents, health certificate and copy of contract for qualifying investment.
– Approval is typically granted within 2 months.
– Following approval, the applicant must obtain an entry visa and visit Greece for issuance of the GIRP
– Family members have the option to visit Greece at a later date to collect their permits
PLEASE NOTE:
The much talked about increase in investment amount for Greece’s Golden Visa in popular and high-demand areas of the country to €500,000 applies in areas like Athens, Mykonos, Santorini, Thessaloniki. The investment amount in other areas will remain unchanged at €250,000.
The decision was anticipated to come into effect this May 1, but following a parliament vote, the deadline on the old threshold will now be pushed to July 31, 2023. This new development will give new investors adequate room to finalize their applications and payments.