The Greece Golden Visa boasts the cheapest and fastest residence for investment scheme in Europe, for non-EU nationals willing to invest in real estate. These factors, among others, make it one of the most competitive programmes available, as individuals, families and business people seek even more effortless and easy ways to relocate and reach life goals. The programme has grown exponentially since it was first launched and trends show that this growth will continue.
The Golden Visa has a number of characteristics that make the programme highly attractive and sought after – a fast 2-month application process, Visa-free access to the 26 countries in the Schengen zone, family eligibility, and no minimum physical residency before the application is submitted or after it is granted. Moreover, the programme offers the valuable possibility to apply for citizenship after 7 years of continuous residency in Greece.
Of course, for those wishing to live and stay in Greece, the country boasts a Mediterranean lifestyle like no other, where friendly communities are eager to welcome foreigners to share in the local traditions, environment, society and culture.
Benefits
FACT BOX: BENEFITS
- Fast 2-month track to residency
- The right to reside, settle and live in Greece
- Easy no-Visa travel across the Schengen zone
- No minimum residency requirements
- Family eligibility
- Right to apply for citizenship after 7 years continuous residency
Costs
FACT BOX: COSTS
- Purchase property for €250,000
- Lease timeshare for €250,000 for 10 years
- Purchase land and build for €250,000
Taxation
FACT BOX: TAXATION
- No estate duty
- No wealth, gift, retirement gratuity or inheritance tax
- No municipal tax
- No tax on capital gains
Eligibility
FACT BOX: ELIGIBILITY
- Be a third country, non-EU national
- Be 18 years of age
- Have a clean criminal record
- Pass a ‘fit and proper’ test
- Pass due-diligence tests
- Fulfill the monetary obligations established by the Programme
What are the benefits of the Greece Golden Visa?
The Greece Golden Visa gives holders the right to live, invest and do business in Greece, after a very fast processing time of 40 days. Since Greece is part of the European Union, the Eurozone and Schengen, then it becomes easier for residency holders to acquire easy movement across Europe.
Family members are eligible under this programme, making it ideal for family resettlement and retirement.
An important benefit under this programme is that no minimum physical residency is requested at any time – an enticing factor for those who deem movement and mobility important to their personal and business needs.
The Greece Golden Visa issues a permanent permit, renewable after 5 years. It is possible for residency holders to apply for citizenship after 7 years of continuous residency.
What are the costs involved under the Greece Golden Visa?
Applicants for the Greece Golden Visa have three investment options open to them.
They can either purchase property of a minimum value of €250,000 or invest in timeshare for a minimum of 10 years, where the lease has a minimum value of €250,000.
The third option is an investment in a plot of land and a commitment to build, provided that the total value of the project as quoted by the construction contractor is €250,000.
The property can be bought from a legal entity, provided s/he has 100% share ownership.
Eligibility for the Greece Golden Visa
For a main applicant to be eligible for the Greece Golden Visa, s/he must be a non-EU national and at least 18 years of age with a clean conduct. Family members are eligible and these include spouse, children and parents.
Applicants undergo a ‘fit and proper’ test as part of the government’s due diligence programme.
Steps, procedures and timeline to apply for the Greece Golden Visa Programme
The Greece Golden Visa employs simple, rapid procedures that give applicants a fast-track to residency rights.
STEP 1: Prepare application and submit
The application for residency is prepared including all supporting documents. The residency application is submitted.
STEP 2: Temporary residence permit issued
The Greek authorities issue a receipt of application. This document doubles up as a temporary residence permit valid for a year, until the final permit is granted.
STEP 3: Application is processed.
The information in the application is validated and the government’s due diligence exercise takes place.
STEP 4: Certificate is issued
The Golden Visa is issued.
LEGAL BASIS
The Greek Government by virtue of the Immigration and Social Integration Code of 2014 introduced provisions to facilitate the stay of non-EU nationals. By virtue of this law, residence permits could be granted to third country nationals and to their family members, who proceed to purchase real estate property in Greece, the value of which must exceed €250,000.
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