Greece Golden Visa

Investors looking for investment opportunities in Europe always keep Greece on their radar. Greece is an old EU member. It holds a strategic position in Europe, making it an attractive destination for foreign investors. The Greece Golden Visa program is a residence by investment program launched in 2013. It enables non-EU nationals and their family members to obtain permanent residence permits in Greece.

Benefits of the Greece golden visa program

• Visa-free travel within Europe’s Schengen Area
• No requirement to reside in Greece
• Residence permits can be acquired within 30–60 days
• Unlimited expiry date for residence permit
• Opportunity to rent out the investment property
• Residence is applicable to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse).
• Eligibility to apply for citizenship after seven years of residence
• Ability to hold shares and receive income from dividends of a Greek company (but not employed in Greece).

Greece Golden Visa Requirements and Routes

For investors seeking a foothold in the European Union, Greece’s Golden Visa program offers a compelling opportunity to secure residency through strategic investments. This residency-by-investment scheme provides multiple pathways for foreign nationals to obtain permanent residency permits, each with its own set of qualifying criteria and investment thresholds.

Qualifying Investment Options

To be eligible for the Greece Golden Visa, non-EU applicants must fulfill one of the following investment requirements:

Real Estate Investment Options

• Property Acquisition: Invest at least €250,000 in the purchase of real estate property in Greece, plus applicable taxes and fees.
• Long-Term Leases: Secure a 10-year lease agreement for hotel accommodations or furnished tourist residences within a tourist accommodation complex.
• Timeshare Investment: Obtain a 10-year timeshare agreement for hotel accommodations.

Capital Contribution Options

• Company Investment: Contribute a minimum of €400,000 to a Greek company for the acquisition of shares during a share capital increase or the purchase of corporate bonds traded on regulated markets or multilateral trading platforms.
• Fund Investment: Invest in a Greek real estate investment company, closed-end investment fund, or mutual fund that focuses exclusively on Greek companies and assets.

Securities and Bonds

• Government Bonds: Purchase Greek government bonds with a minimum acquisition value of €400,000 and a residual maturity of at least three years.
• Corporate Securities: Invest a minimum of €800,000 in the purchase of shares or corporate bonds issued by Greek companies.
• Alternative Funds: Acquire units of mutual funds or alternative investment funds with a minimum investment value set by the fund’s regulations.

Capital Transfer

• Bank Deposit: Maintain a term deposit of at least €400,000 in a domestic Greek credit institution for a minimum of one year, with a standing order for annual renewal.

Once the qualifying investment is made, applicants can proceed with the formal application process to obtain their Golden Visa residency permit.

Procedures

For an immigration permit application, all necessary documentation should be certified and translated into Greek. The following steps need to be taken to acquire a permit:

1. Complete the initial due diligence checks.
2. Contact the authorised partner
3. Sign the client agreement and pay the retainer
4. Collect the necessary documents
5. Visit Greece with a valid visa and assign a legal representative to conclude the process
6. Choose and acquire a preferred property
7. Pay the government residence fees and balance of Henley & Partners fees
8. Submit the application for Greek residence to the government
9. Capture the client’s biometrics, either the same day or within the next six months
10. Complete the due diligence checks
11. Upon approval, the Greek residence permit will be issued, with the possibility to apply for citizenship after seven years of residence

Popular locations for property investment

Some of the most popular locations for property investment in Greece include Athens, Thessaloniki, and the Greek islands. These locations offer a variety of investment opportunities, from residential to commercial properties. Investors should research the market and consider factors such as accessibility, demand, and potential for growth when selecting a location to invest in.

Types of properties to invest in

Investors have a range of options when investing in real estate in Greece. They can invest in apartments, villas, and commercial properties, among others. It is essential to conduct market research and understand the risks and rewards associated with each type of property before making an investment decision.

Navigating the Greek real estate market

The Greek real estate market can be complex, and it is advisable to work with a reputable real estate agent who knows the local market. A real estate agent can provide guidance and support throughout the investment process, from finding the right property to completing the transaction. Due diligence is also crucial when investing in real estate in Greece. Investors should research the property thoroughly and review any associated costs before investing.