Welcome To The Greek Residency By Investment Program
The Greek Residency By Investment Program (or Golden Visa Program) is considered one of the most affordable residency programs, providing access to Europe within 2-3 months.
Greece is a South-Eastern European country comprising a large mainland and thousands of small islands throughout the Ionian and Aegean Seas. The country enjoys a Mediterranean climate, beautiful landscapes, waterfalls, mountain ranges, and the beautiful lagoons of Messolonghi, Gialova, and Porto.
About Greece
Greece’s influence on philosophy, arts, culture, and politics is unparalleled. The cradle of one of the world’s oldest civilizations, it has a legacy stretching from the Minoans in 3000 BC to the present day. The principles of modern democracy, including government by the people and equality before the law, are deeply rooted in Greek history.
CAPITAL
Athens
POPULATION
10,321,698
TOTAL AREA
131,957 km2
CURRENCY
Euro (€)
Geographical Location and Climate
Situated in southeastern Europe, Greece is home to over 6,000 islands, 227 of which are inhabited. Its diverse landscape ranges from mountainous areas to sandy beaches. The country enjoys a mild Mediterranean climate, with sunny summers perfect for exploring ancient ruins or relaxing on its beaches.
Language and Culture
Greek, with its origins in the Mycenaean civilization, is spoken by approximately 12 million people worldwide. Greek culture is a rich tapestry of artistic styles, from ancient music to Byzantine frescos, showcasing the nation’s aesthetic diversity.
Economic Overview
Greece’s economy is dynamic, showcasing its resilience and versatility across various sectors. Notable for its agriculture, Greece is famous for its delicious, seasonal produce that enriches its celebrated culinary tradition. Tourism is a key economic driver, attracting people worldwide with its rich historical heritage.
The Golden Visa program stands as a testament to Greece’s commitment to foreign investment, inviting non-European citizens to partake in and contribute to the economy. Greece’s wine industry, with its 6,000-year history, offers unique experiences, while its film industry has made notable advancements since the post-war era. These diverse achievements highlight Greece’s ability to adapt and thrive, balancing heritage preservation and modern economic trends.
Why Chose greek residency by Investment
FAST ACCESS TO EUROPEAN RESIDENCY
Obtain your Greek residency in just two to three months without the need to reside in Greece.
EASY EUROPEAN TRAVEL
As a Greek resident, you and your family can enjoy visa-free travel across Europe and the 26 Schengen states.
SECURITY FOR YOU AND YOUR FAMILY
Greece is highly regarded for its quality of life and standard of living. Greek residency includes your spouse and dependent children under 21, enabling them to work or study in the country.
RESIDENCY FOR LIFE
The Greek Residency By Investment Program does not require you or your family to reside in Greece. It also provides an unlimited residence permit and allows you to apply for full citizenship after 7 years.
How to Qualify
for the Greek Residency by Investment Program
Experience the essence of Europe through Greece’s Residency By Investment program, commonly known as the Greek Golden Visa Program. Greece, a pivotal member of the European Union, opens its doors to foreign investors, offering the unique opportunity to obtain permanent residency in a country rich in history and natural beauty.
To embark on the journey toward Greek residency, potential candidates must navigate a series of steps and fulfill certain criteria. The process involves making significant investments in Greece’s real estate or other approved sectors, complying with legal and financial prerequisites, and interacting with the appropriate Greek authorities to ensure all requirements are met.
This route not only leads to residency in Greece but also offers access to the wider Schengen Area, marrying investment opportunities with the allure of the Mediterranean lifestyle.
Recent changes to the Greek Residency By Investment Program include
- The minimum investment in certain areas, including Athens, Thessaloniki, Mykonos, and Santorini, has increased from €250,000 to €500,000. This change aims to spread investments more evenly across Greece.
- Applicants can now complete their Greek Residency By Investment applications remotely by granting Power of Attorney to a representative in Greece.
- New Immigration Code (Effective January 1, 2024):
- Blue Card Eligibility: Highly skilled individuals from non-EU countries can apply for Blue Cards.
- In-Country Blue Card Applications: Non-EU nationals already in Greece on a C Visa, with a residence permit, or holding a valid passport can apply for a Blue Card within the country if they meet the criteria.
- Blue Card Holders from Other EU States: Those with a Blue Card from another EU Member State who have lived there for at least 12 months can apply for a Greek Blue Card residence permit.
Eligibility Criteria for the Greece Golden Visa Program
- Applicants must be over 18 years old
- Applicant must not be a citizen of an EU/EEA country
- Possess a clean criminal record
- Show good character
- Comprehensive health insurance from a company in Greece is required for the applicant and their dependent family members.
- Applicants should demonstrate financial stability and the capability to support themselves and their family members without employment in Greece.
- A clean history regarding the Schengen visa application.
Investment Options For Greek Residency By Investment Program
1. Real Estate Investment
Standard Option: An investment in property with a minimum value of €250,000.
Areas with increased minimum investment (Effective May 1st, 2023): For specific municipalities, including Athens, Thessaloniki, Mykonos, and Santorini, the minimum investment requirement has increased to €500,000.
Additional Fees
| Category | Main Applicant | Spouse | Children between the ages of 12-17 | Children 18 and over |
|---|---|---|---|---|
| Property transfer tax | 3.09% of the property’s value | - | - | - |
| Notary public fee | 1-1.5% of the property’s value | - | - | - |
| Land registry fee | 0.6-0.8% of the property’s value | - | - | - |
| Application fee | USD 2180.00 | USD 2180.00 | - | USD 2180.00 |
| Residence permit card | USD 17.44 | USD 17.44 | USD 17.44 | USD 17.44 |
2. Capital Investment
- An investment of €400,000 (USD 445,231) in government bonds, kept for at least three years.
- An investment of €400,000 (USD 445,231) in shares, corporate bonds, or shares of mutual funds established in Greece and invested in projects within Greece.
- A capital contribution of €400,000 (USD 445,231) to a real estate investment company aiming for investments exclusively in Greece.
Additional Fees
| Category | Main Applicant | Spouse | Children between the ages of 12-17 | Children 18 and over |
|---|---|---|---|---|
| Transaction fees | 0.5-1% | 0.5-1% | 0.5-1% | 0.5-1% |
| Application fee | USD 2180.00 | USD 2180.00 | - | USD 2180.00 |
| Residence permit card | USD 17.44 | USD 17.44 | USD 17.44 | USD 17.44 |
3. Bank Deposit
A term deposit of €400,000 (USD 445,231) into a Greek bank for at least one year, with a standing order for renewal.
Additional Fees
| Main Applicant | Spouse | Children between the ages of 12-17 | Children 18 and over | |
|---|---|---|---|---|
| Transaction fees | 0.5-1% | 0.5-1% | 0.5-1% | 0.5-1% |
| Application fee | USD 2180.00 | USD 2180.00 | - | USD 2180.00 |
| Residence permit card | USD 17.44 | USD 17.44 | USD 17.44 | USD 17.44 |
4. Securities or Venture Capital Investment Options
- €800,000 (USD 865,788) investment in Greek government bonds, held for at least three years.
- Purchase of shares, bonds, or treasury bills in a portfolio worth at least €800,000 (USD 865,788)
- A €400,000 (USD 445,231) investment in a capital company or venture fund established in Greece or based in another EU country but aiming for investments in Greece.
Additional Fees
| Main Applicant | Spouse | Children between the ages of 12-17 | Children 18 and over | |
|---|---|---|---|---|
| Transaction fees | 0.5-1% | 0.5-1% | 0.5-1% | 0.5-1% |
| Application fee | USD 2180.00 | USD 2180.00 | - | USD 2180.00 |
| Residence permit card | USD 17.44 | USD 17.44 | USD 17.44 | USD 17.44 |
Greek Residency By Investment Steps And Timeline:
The Greek Residency By Investment Program process usually takes three to five months to complete. This timeline, while approximate, relies heavily on timely document submissions and swift correspondence with consular offices. Here is a step-by-step guide on how to apply for the Greek Residency By Investment Program:
Consultation and Investment Selection
Consult with our experts to select a suitable investment option from the available choices, which includes real estate, business ventures, or financial investments. Our team will assist you in making an informed decision, considering your specific requirements and investment goals.
Legal Compliance
Acquire a Non-Resident Tax number in Greece and open a local bank account. Consider granting power of attorney, which allows you to complete the process remotely, regardless of the investment type chosen.
Securing Your Investment
For real estate investments, conduct ‘Legal Due Diligence’ through an experienced lawyer and sign a sale and purchase agreement to secure public deed rights over the property. Follow the relevant legal and financial procedures for other investment types to ensure a secure and compliant investment.
Launching Your Application
Proceed with the Greek Residency By Investment Program application after finalizing your investment. Compile all necessary documentation, with legal assistance recommended, to ensure compliance with all requirements, regardless of the investment type.
Visit Greece
Travel to Greece to submit biometric data, a step that must be completed in person for all types of investments.
Receive Your ‘Golden Visa’
Upon completing all formalities, you’ll receive a Residence Card, granting benefits like profitable returns and unrestricted travel across Europe. This applies to all investment types under the Greek Residency By Investment Program.
Golden Visa Renewal
Renew your Greek residency permit every five years. For property investments, maintain full property ownership and ensure all leases and contracts are valid for renewal eligibility. For other investment types, adhere to the specific conditions and requirements related to your investment to ensure continued eligibility.
Benefits of the Greek Golden Visa Program
The Greek Residency By Investment Program is an attractive scheme that gives non-European Union citizens a unique opportunity to gain permanent residence in this historic, sun-soaked country and access the benefits below.
Unrivaled Access to Europe
Greek residency permit holders can enjoy visa-free travel across 26 Schengen area countries.
Flexible Investment Options
Multiple investment routes are available, including real estate (minimum €250,000), government bonds (minimum €400,000), and investments in corporate bonds, shares in Greek corporations, or venture funds.
Guaranteed Family Inclusion
The program extends to your spouse, dependent children under 21, and direct ascendants, ensuring family unity.
No Requirement For Continuous Stay
The Greek Residency By Investment Program allows flexibility in residency without impacting your resident status, as there are no minimum stay requirements.
Potential Pathway to Citizenship
While initially offering permanent residency, meeting specific conditions over 7 years, including language and cultural fluency, could lead to citizenship eligibility.
High Acceptance Rates and Remote Application Facility
Since 2014, over 9,000 main applicants have been granted Golden Visas. This directed over €2.6 billion (USD 28,957,630,000) into the country’s economy.
Remote application options since December 2020 have enhanced accessibility and convenience, reducing costs and inconvenience for potential investors.
Affordable Investment Thresholds
Compared to other global programs, the Greek Residency By Investment Program is relatively affordable, allowing investment in multiple properties with a cumulative value of at least €250,000.
Renewal System Considerations
The Greek Golden Visas acquired from the Greek Residency By Investment Program are valid for five years and can be renewed if investment criteria are continuously met.
Greece Golden Visa FAQs
Does the Greek Golden Visa Lead to Citizenship?
While the Greek Residency By Investment Program does not directly grant citizenship, after 7 years of continuous residence in Greece, holders of a Golden Visa are eligible to apply for Greek citizenship. They will need to meet additional criteria, including a demonstration of their fluency in the Greek language.
How Much Do You Have to Invest in Greece to Get a Golden Visa?
As of now, the minimum mandatory investment within this scheme involves purchasing a property worth €250,000 (USD 278,504) or more, excluding taxes and fees, which would make the total cost around €300,000 (USD 334,052), but in Athens, Thessaloniki, Glyfada, Santorini, and few other precincts the investment amount is €500,000 (USD 556,435).
Is the Greece Golden Visa Worth It?
Whether the Greece Golden Visa is “worth it” depends mainly on personal circumstances and objectives. The Greek Residency By Investment Program is attractive due to its affordability (compared to other European nations’ programs), facilitated travel throughout Europe’s Schengen Area, family inclusion up until 21 years old with no minimum stay requirement, and renewal option open-endedly provided that your initial investment is retained.
Did the Greece Golden Visa Change?
The primary changes introduced were regarding significant investments required under the Greek Residency By Investment Program. Since May 2023, the basic threshold for real estate investment and investments doubled from €250,000 to €500,000 (USD 278,504 to USD 556,435) within specific municipalities. This policy adjustment aims to distribute foreign investment more evenly across the country. However, restrictions remain unchanged outside the specified areas, maintaining the original limit of €250,000.
