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Greece

Residencyby Investment Program

Greece

Residency by Investment Program

Greece, the cradle of democracy and Western philosophy,stands as one of Europe’s most ancient civilizations, known for its historical treasures,natural splendour, and welcoming culture. This land of emerald shores, pine-clad hills, and olive groves has a profound heritage cherished by its people. As a proud member of the European Union and Schengen states, Greece not only entices international travellers but also serves as a gateway to visa-free exploration within the Schengen zone.

Introduced in 2013, the Golden Visa Program was crafted to encourage foreign residency in Europe through real estate investments. Notably, it is the sole European programme offering immediate permanent residency. Under the Immigration and Social Integration Code of 2014, provisions were established to facilitate the stay of non-EU nationals in Greece. They are granted a five-year residency visa in exchange for a real estate investment of EUR 250,000. This visa can be obtained within 90 days and is renewable every five years as long as the property investment is retained.

Requirements /Investment Options

The Golden Visa Program functions as a Residence-by-Investment programme rather than a citizenship-by-Investment Program. While applicants can reside in Greece indefinitely, there is no minimum stay requirement, and living in the country is not obligatory for retaining and renewing the investor visa. The visa permits the applicant to live andestablish a business but does not allow working in Greece

Applicants can submit their applications directly to the Immigration Department in Greece upon providing the required documentation confirming the purchase of real estate. The program extends to the applicant, spouse, their parents, and children under the age of 21 years. To qualify for residency, applicants must be over 18, have a clean criminal record, and possess medical insurance covering their stay in Greece.

Investment

Applicants may choose one of the following investment criteria:

  • A EUR 250,000 investment in real estate anywhereon the Greek mainland or the islands for residentialor commercial use

or

  • An investment of EUR 500,000 towards acquiring a single estate or property in Athens Central, South, or North, the municipality of Thessaloniki, Mykonos,or Santorini, is required.

Buyers also have the option to make joint purchases with other investors or acquire a combination of properties,totaling the investment at EUR 250,000. Prospective investors are encouraged to explore Greece, visit the properties of interest, and establish a bank account before initiating the Golden Visa application process.

Flexibility is a key feature of the program. Participants have the freedom to exit at any time by selling the property and returning the residency card. Additionally, property ownershave the option to generate rental income by leasing out theacquired property

Fees

Approximately 8% of the net property price covers all fees and expenses for the property purchase and the residence card. Real estate taxes on newly purchased properties amount to 3.09%.

Process Overview

The application process is swift and straightforward, withthe issuance of a residencycard often taking as little as 90days, assuming no areas of concern arise

MILESTONES

Week 1 - 3

Submit the application.Greek authorities issue areceipt of application thatcan serve as a temporarypermit before residency isgranted

Week 4 - 7

Application review anddiligence checks arecarried out

Week 8

The Golden Visa is issued.Citizenship eligibility may be sought after seven years of residency.

Interested & want to know more details?


Summary of Key Advantages

  • Visa-free travel to 152 countries, including the EU, the UK, Singapore, Hong Kong, and South Africa.
  • Full citizenship with passports granted to the main applicant, spouse, children, parents, or grandparents.
  • Financially dependent children up to 30 years old may be included without the need for full-time school enrollment. Unmarried siblings may also be included
  • No personal income, capital gains, inheritance tax, or tax on foreign income.
  • A minimal presence requirement of at least five days within the first five years of obtaining citizenship.
  • Antigua and Barbuda offer an exceptionally beautiful place to live or visit year-round, with over 365beaches and a temperate climate that makes the country a Caribbean gem

Dual Citizenship

Greece imposes no restrictions on dual citizenship.

Taxation

Residents are taxed solely on their income generated within Greece,not on worldwide income. Rental income from property is taxed at a rate of 15% for incomes up to EUR 12,000 and 33% for amounts exceeding EUR 12,000.

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