Golden Visa Greece

Your Ultimate Guide to Residency by Investment

Thinking of making a solid investment in Greece while simultaneously securing a plan B for your family’s future? The Greek Golden Visa Program might just be the ticket you’re looking for! Essentially, it’s a residency-by-investment program offering a plethora of benefits, including visa-free travel within the Schengen Area. 

To grab this opportunity, you’ll need to make a qualifying investment in Greece, commonly through real estate purchases. The beauty of the process lies in its simplicity and the enticing prospect of acquiring potential permanent residency down the line. Plus, you’re not just investing in any location; we’re talking about the land of myths, philosophy, and history! And don’t worry about the complexities; with clear eligibility criteria and a straightforward application process, setting sail toward your Greek residency is more accessible than you might think.

Key Takeaways

• The Greece Golden Visa offers residency in return for investment, with benefits like free movement in Schengen.
• Investments are typically made in real estate, with a minimum required investment of €400.000 (€800.000 in Athens, Thessaloniki, Mykonos, Crete, and Santorini).
• The program is designed with a clear and accessible process, aiming for simplicity in obtaining residency.

What Is A Golden Visa?

Curious about unlocking the doors to Europe with an investment? Let us walk you through the allure of the Golden Visa, your ticket to Greece and beyond!

A Residence-By-Investment Visa For Non-EU/EEA Nationals

The Golden Visa program it’s a type of residence-by-investment visa specifically designed for you if you’re not from the EU or EEA. By investing at least €400,000 in real estate (except in certain municipalities of Athens & Thessaloniki, Mykonos, Santorini, and Crete where you need to invest at least €800,000), you can snag a residence permit for yourself and your family. It’s like buying a home and getting a bonus travel pass to Europe’s captivating corners!

Offers Immediate Five-Year Residency

The visa offers a five-year pass to live in Greece with no yearly renewals. Once you’ve made your investment, you’ll receive a residence permit that’s valid for five years, and yes, it’s renewable.

Greece Golden Visa Changes in 2024

Have you heard about the recent updates to Greece’s Golden Visa program? Get ready to dive into the specific changes that could affect your investment plans and possibly pave the way to Greek citizenship!

The Minimum Investment Requirement Has Been Raised

For the granting of a five (5) year residence permit to citizens of third countries (“Golden Visa”), from March 31, 2024, the following conditions will apply:  

• In the Region of Attica, the Regional Units of Thessaloniki, Mykonos, Santorini, Crete, and on the other islands with a population of over 3,100 inhabitants, the value of the real estate that the interested party must own increases to 800,000 euros. (from 500,000 euros). 
• In the rest of the country, the value of real estate is 400,000 euros. In any case, the investment must be made in one property (not in several properties of lesser value) with an area of at least 120 sq.m. The purchase of a percentage of undivided co-ownership of a property is allowed, the minimum value of which is respectively 800,000 and 400,000 euros in the case of spouses or cohabitants with a cohabitation agreement.
• For buildings that currently have a different use and are converted into residences (industrial properties that will be converted to be habitable). The minimum investment amount is set at 250,000 euros. The conversion of use must be completed before submitting the request for the residence permit. Their use as a company headquarters or branch is prohibited.
• The limit is also set at 250,000 euros if it is an investment in a listed building that is to be restored.

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The Visa Duration Can Be Extended

Residence permits can be renewed for the same period of time (five years) as long as the real estate remains in the ownership of the investor. If it is an investment in a preserved building, an additional condition for the renewal of the residence permit is that the restoration of the building has been completed. If the investor sells the property then his residence permit is revoked and the buyer becomes entitled to obtain a residence permit.

Golden Visa Greece Benefits

Imagine having a home in a country that offers not only breathtaking landscapes but also a treasure trove of cultural richness—welcome to the many benefits of the Greece Golden Visa program. Let’s walk you through the advantages that could transform your life and global mobility.

No Minimum Stay Requirement In Greece

With Greece’s Golden Visa, you are not required to maintain a minimum stay to keep your investment visa valid. This means you can pop in for a holiday or a historical escapade whenever you want. The only requirement is you return every five (5) years to update your biometric data.

Enjoy The Rich Culture, History, And Natural Beauty Of Greece

Greece offers a variety of wonderful experiences. Visit ancient sites like the Acropolis and enjoy the beautiful blue waters of the Aegean Sea. The Golden Visa allows you to explore Greece’s rich history, culture, and natural beauty. This program also gives you access to many great travel opportunities that make each visit special. It’s truly magnificent!

The Warm Climate Enhances Your Lifestyle Investment

Greece’s warm climate stands as a significant allure for individuals seeking the Golden Visa program, offering more than just a gateway to Europe’s splendors. This Mediterranean haven boasts an enviable climate characterized by mild winters and sun-drenched summers, making it an ideal destination for those yearning for outdoor living and wellness. The abundant sunshine, averaging over 250 days a year, not only uplifts the spirit but also promotes a healthy lifestyle, encouraging activities such as swimming, sailing, and hiking in its breathtaking landscapes. This warm climate facilitates a year-round enjoyment of Greece’s rich historical sites, vibrant local culture, and exquisite cuisine, enhancing the quality of life for its residents. For investors and expatriates, the pleasant weather is a boon, turning Greece into a perfect blend of business opportunities and leisure, where one can seamlessly integrate into a lifestyle that balances work with the tranquil beauty and recreational offerings of the Mediterranean life.

Increase Your Global Mobility With A Greek Passport

Last but not least, imagine unlocking the world with a Greek passport. Yes, after a 7-year residency period, you could apply for citizenship and potentially travel visa-free to numerous countries.

Greece Golden Visa Statistics

Did you know that the Greece Golden Visa program has not just been a gateway to Europe but also a significant contributor to the Greek economy? Let’s take a closer look at the numbers that paint a picture of this program’s impact and popularity.

More Than 28,000 Golden Visas Have Been Issued

Since its inception, Greece’s Golden Visa program has seen a steady uptick in applicants. By 2022, over 28,000 Golden Visas have been granted to investors and their families.

China Is The Leading Source Of Applicants

Have you ever wondered where most of the applicants come from? China tops the list as the leading source, with numerous families investing their way to a European residency.

Real Estate Is The Most Popular Investment Option

It’s no secret that investing in real estate is a popular choice among Golden Visa applicants. The sunny skies of Greece and the allure of its historical sites have made property investment the go-to option for the majority of investors.

The Average Investment Amount Is Around €500,000

While the minimum investment threshold was originally set at €250,000, the average investment floats around the €500,000 mark. Quite the commitment, but it seems investors find the Greek lifestyle and EU access worth every euro!

There you have it! A dive into the statistics behind Greece’s enviable Golden Visa program. Whether you’re a statistic enthusiast or a potential investor, these figures are sure to give a comprehensive insight into this program’s reach and success.

Greek Golden Visa is the #1 golden visa program globally

Eligibility Criteria For Greece Golden Visa Program

Thinking about a sun-kissed future in Greece? To obtain  that coveted Greece Golden Visa, you need to tick a few boxes first. Let’s break down the must-haves that’ll put you on track to basking in the Mediterranean lifestyle.

Non-EU/EEA Nationals Who Are Over 18 Years Old

First things first, you’ve gotta be a non-EU/EEA national and 18 years or older. Simple, right? Just prove you’re of legal age and hail from outside the EU bubble, and you’re on your way.

Have A Clean Criminal Record In Their Country Of Origin And In Greece

In order to uphold high standards of integrity, Greece mandates that individuals must possess a clean criminal record, applicable both in their country of origin and within Greece itself.

Have A Valid Health Insurance That Covers Them And Their Family Members In Greece

Healthcare is significant, so make sure you have valid health insurance for you and any family tagging along. It’s like packing an umbrella — even if the sky’s clear, you’ll rest easier knowing you’re covered.

Make A Qualifying Investment Of At Least €400,000

You’ll need to invest at least €400,000 in Greek real estate. However, for properties located in Crete, the minimum investment threshold is higher, set at €800,000.

Investment Options Of Greece Golden Visa

Curious about making a sun-kissed investment in Greece that can also pave the way for residency? The Greece Golden Visa program offers you a range of investment options to choose from, ensuring that you can find the right fit for your financial goals! Here’s the scoop on the different ways you can invest:

Real Estate Purchase Or Lease Of At Least €400,000

If you’re imagining yourself with a property under the Greek sun, you can make it a reality—and get a residency visa to boot! Just purchase or enter into a lease agreement for a real estate property in Greece, and if it’s worth at least €400,000, you’re on your way.

What’s hot? Residential or commercial properties all over Greece.

Greece Golden Visa Renewal Process

Did you know that your Golden Visa isn’t just a one-time deal? You can renew it every five years! Let’s take a stroll through the renewal process that keeps your visa going strong.

The Greece Golden Visa Is Valid For Five Years

Your Greek Golden Visa lasts for five years, but you can renew it to continue enjoying its benefits.

The Renewal Process Is Simple And Fast

The process is simple and fast. It’s Greek hospitality at its finest; you provide the necessary documents, and the authorities will renew your permit.

The Renewal Requirements Are The Same As The Initial Application

Alright, before you gather your papers, let’s give them a quick once-over. Just like the initial application, the renewal requires you to:

• Have a valid passport.
• Maintain the same investment.
• Show proof of medical insurance.
• Keep a clean criminal record.

So, if you’ve got all that in check, renewing should be as smooth as a fine Greek olive oil!

The Renewal Fee Is €2,000 For The Main Applicant

A fee of €2,000 is required for the main applicant to extend their access to Greece for an additional five years. This fee is essential for maintaining the validity of one’s visa under the stipulated terms.

Greek Taxes

When you’re eyeing Greece for your investment, you’ll find the country’s tax regime quite welcoming. Let’s talk numbers and specifics, so you’re in the know before making a move!

Greece Has A Favorable Tax Regime For Foreign Investors

Foreign investors in Greece benefit from a favorable tax regime tailored to their needs. One notable example is the non-domicile (non-dom) scheme, which allows investors to pay a flat tax rate of €100,000 per year for up to 15 years, irrespective of their global income. This policy is designed to provide significant financial advantages and predictability for international investors.

Investors Are Not Considered Tax Residents In Greece Unless They Spend More Than 183 Days Per Year

Staying in Greece for less than 183 days annually means you’re not considered a tax resident. This means your tax obligations are pretty relaxed. 

Investors Are Only Taxed On Their Income Generated In Greece

If you’re making money in Greece, then that’s what you’re taxed on. Your income from other corners of the globe isn’t on Greece’s radar. So, if your Greek investments are more of a side gig, you’ll only need to check Greek income on your tax forms.

Investors Can Benefit From Various Tax Exemptions And Deductions

Investments often come with perks like tax exemptions and deductions. Make sure to ask for advice from a tax advisor to unwrap all the tax goodies Greece might have in store for your investments.

Investors Can Also Take Advantage Of The Double Taxation Treaties

No one likes being taxed twice, right? Greece has got your back with its double taxation treaties. These agreements provide relief so that the money you earn is taxed just once, either in Greece or your home country. It’s a win-win situation—you avoid getting tax-slapped twice, and it simplifies your financial planning.

With these details at your fingertips, you’re better equipped to navigate the Greek tax landscape like a pro.

Get a Golden Visa With BlueSkyline

Embarking on your Greek Golden Visa journey? BlueSkyline isn’t just about paperwork; think of us as your Golden Visa concierge, offering a hassle-free experience tailored to your needs. We are a real estate investment company in Crete with more than 25 years of experience! Working with us is making sure your real estate investment is in good hands!

Offers End-To-End Assistance

Have you ever wished for a genie to handle the daunting task of paperwork? BlueSkyline could be the next best thing! Here’s the deal:

• Pre-Application: We will help you understand eligibility and investment options.
• Application Process: From property search to submission, you’re covered.
• Post-Approval: Even after the visa is in your hand, our service continues.

Has A Team Of Experts With Extensive Knowledge

Who do you trust when navigating the complex terrain of immigration? How about a team that combines legal prowess with local expertise? We pride ourselves on a network of:

• Lawyers: Top-tier legal advice is our promise.
• Engineers & Accountants: Ensuring that every detail of your real estate investment is scrutinised and solid.
• Notaries: Your documents will be in impeccable order.

Provides Personalized And Transparent Guidance

Ever feel like you’re just another number? Not with us. We bring a personal touch to each client’s journey, offering clear-cut guidance on:

• Investment Thresholds: Keep in mind that for properties in Crete, the investment requirement is set at €800,000. This elevated threshold is indicative of Crete’s unique market value and aligns with the strategic objectives of the Golden Visa program to attract substantial foreign investment into the region.
• Program Nuances: Get insider’s advice on how to make the Greek Golden Visa Program work for you.

In the end, you’re not just gaining a visa but forming a partnership that listens, understands, and delivers success. Ready to start packing for Greece? We are on standby to turn your investment into a passport to the Mediterranean lifestyle.

Frequently Asked Questions

Curious about the Greece Golden Visa? You’ve got questions, and we’ve got clear-cut answers. Let’s dive into the details you need to know about the investment pathway to the Greek Isles.