Greece Golden Visa
Greece, renowned for its rich history, stunning landscapes, and vibrant culture, is a top destination for global investors. The country offers a high quality of life with its Mediterranean climate, exquisite cuisine, and excellent healthcare and education systems. Through the Golden Visa program, non-EU citizens can invest and gain residency in Greece. This blog explores the investment options, requirements, application process, and benefits of obtaining residency in this beautiful country.
What is the Greece Golden Visa
The Greece Golden Visa is a residency-by-investment program launched in 2013 to attract foreign investment and boost the Greek economy. With a low investment requirement and a five-year renewable residency permit, it offers resident visas to non-EU citizens who make significant investments in Greece. People from all over the world are drawn to this program since it permits them to travel inside the Schengen Area.
Types of Investments
When considering the Greek Golden Visa, it's important to explore the various investment options available. Greece offers several pathways to secure residency, including real estate purchases, business investments, and financial contributions. Each investment type provides unique opportunities, allowing you to choose the option that best aligns with your financial goals and interests.
Residency by Investment Greece
Real estate investments are the cornerstone of the Greek Golden Visa program, offering a straightforward and popular route to obtaining residency. Investors are required to purchase property in Greece worth at least €250,000. This investment can encompass residential, commercial, or a mix of properties, providing flexibility to suit different investor preferences. Greece's real estate market is diverse, with options ranging from luxurious villas on the islands to modern apartments in vibrant city centers. This type of investment not only grants residency but also promises potential rental income and long-term capital appreciation, making it a sound financial choice.
Other Investments
Beyond real estate, the Greek Golden Visa program includes several other investment options, catering to those who prefer different avenues for their capital. One option is entering into a lease agreement for hotel accommodations or furnished tourist residences, with a minimum lease period of ten years. Another route involves making a capital investment of at least €400,000 in a Greek company, supporting local entrepreneurship and economic growth. Investors can also opt to purchase Greek government bonds or shares in mutual funds, each requiring a minimum investment of €400,000. These varied options provide flexibility and the opportunity to choose an investment that aligns best with the investor's financial goals and risk tolerance.
Greece Golden Visa Requirements & Eligibility Criteria
To obtain the Greek Golden Visa, applicants must meet specific requirements and eligibility criteria. This section outlines the necessary investments, documentation, and other key factors needed to successfully apply for residency in Greece.
Investment Amount:
Real Estate: Purchase property in Greece worth at least €250,000.
Other Investments: Invest a minimum of €400,000 in Greek companies, government bonds, or mutual funds.
Investment Type:
Eligible investments include real estate, long-term lease agreements for hotel accommodations, capital investments in Greek companies, or financial instruments like government bonds and mutual funds.
Documentation:
Proof of investment or lease agreement.
Valid passport.
Health insurance coverage in Greece.
Clean criminal record from the applicant's country of origin.
Proof of payment for any associated fees.
Additional Requirements:
Applicants must be able to demonstrate that they have sufficient financial resources to support themselves and their dependents during their stay in Greece.
Health insurance coverage must be valid in Greece.
No requirement for a minimum stay in Greece, but maintaining the investment is necessary for visa renewal.
Family Members:
The main applicant can include their spouse, children up to 21 years old, and dependent parents in the visa application.
After gathering all the required documents, you can submit your application to the relevant Greek authorities. Typically, this involves submitting your application in person at a Greek consulate or embassy.
The authorities will review your application, and if everything is in order, you will be granted a residency permit.
Benefits of Obtaining Greek Golden Visa
The Greek Golden Visa provides notable advantages, such as visa-free travel within the Schengen Area, a high quality of life, and access to top-notch healthcare. Explore why this program is an excellent choice for those seeking European residency.
Access to the Schengen Area for Visa-Free Travel
One of the most significant benefits of the Greek Golden Visa is the ability to travel visa-free within the Schengen Area. This includes 26 European countries, allowing for easy and unrestricted travel across much of Europe. This benefit is especially appealing to business travelers and families who enjoy exploring different cultures and destinations.
High Quality of Life, Healthcare, and Education in Greece
Greece offers a high quality of life, characterized by its beautiful landscapes, rich culture, and excellent cuisine. The country also has a well-developed healthcare system and a range of educational opportunities, including international schools and prestigious universities. This makes Greece an attractive destination for families looking for a safe, healthy, and enriching environment.
Potential for Citizenship After a Certain Period
After maintaining their investment and residency status for a specific period, investors may be eligible to apply for Greek citizenship. This provides long-term stability and the full benefits of being an EU citizen. Citizenship opens up even more opportunities for travel, work, and education within the European Union.
FAQ about Greece Golden Visa Program
Here you'll find essential information about the Greece Golden Visa Program, including details on investment requirements, residency benefits, and more.
Question 1: How Long is the Golden Visa Valid For?
The Golden Visa is initially valid for five years from the date of issuance. This period offers significant stability for investors and their families, allowing them to establish a home, work, or pursue education in Greece without the need for frequent renewals. After the initial five-year period, the visa can be renewed indefinitely as long as the qualifying investment is maintained. This renewal process ensures that investors can continue to enjoy the benefits of Greek residency for as long as they meet the program's requirements, making it a long-term solution for those looking to live in Greece or use it as a base for travel within the European Union.
Question 2: Can Family Members Be Included in the Visa?
Yes, the Greek Golden Visa program allows for the inclusion of family members, making it a comprehensive solution for those seeking to relocate with their loved ones. The primary applicant can include their spouse, children up to 21 years old, and dependent parents. This inclusive policy ensures that families can stay together and enjoy the benefits of residency in Greece. For children, this means access to Greece's education system, while spouses and parents can benefit from the healthcare system and overall quality of life. Additionally, the family members included in the visa enjoy the same travel freedoms within the Schengen Area, enhancing the overall appeal of the Golden Visa.
Question 3: Is It Possible to Renew the Visa?
Yes, the Greek Golden Visa can be renewed indefinitely, provided the initial investment is maintained and all other program requirements continue to be met. The renewal process is straightforward and typically requires proof that the investment, whether in real estate, business, or financial instruments, remains intact. Additionally, applicants must continue to demonstrate that they have health insurance and a clean criminal record. The ability to renew the visa indefinitely ensures long-term security and stability for investors and their families, allowing them to plan their futures with confidence and without the worry of losing their residency status. This long-term renewability is a key feature that makes the Greek Golden Visa an attractive option for international investors.
Going Forward
The Greek Golden Visa program provides an exceptional opportunity for non-EU investors to secure European residency. With a variety of investment options—including real estate, business ventures, and financial instruments—the program offers flexibility to suit diverse financial goals. Key benefits include visa-free travel across the Schengen Area, high-quality healthcare and education, and the potential for obtaining citizenship.
Investing in Greece not only contributes to local economic growth but also offers a secure pathway to European residency. Whether you're interested in purchasing luxury real estate or exploring other investment avenues, the Golden Visa program is designed to help you achieve your objectives.
At Kredium, we are committed to making your investment journey seamless. Our expertise in international real estate and investment, combined with our ability to assist you in securing a mortgage, ensures that you receive comprehensive support tailored to your needs. To learn more and start your application, register on our site. Let us help you turn your dream of living and investing in Greece into a reality.
Photo credits:
Spencer Davis | Pexels
Hert Niks | Pexels
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