The Greece Residency by Investment Program, also known as the Greece Golden Visa offers a fast track route to permanent residency with a €250,000 investment
The Greece Golden Visa is a residency by investment programme open for non-EU nationals. This Golden Visa Programme was launched in with the aim of granting permanent residency to applicants who invest at least €250,000 in real estate. In addition, applicants will enjoy the right of visa free travel within the 26 Schengen Countries. The latest amendments to the programme also makes it possible for beneficiaries under this scheme to apply for citizenship aftery 7 years of continuous residency in Greece.
Legal Basis for the Greece Golden Visa
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.
Eligibility & Requirements
The Greece Golden Visa is available to those non-EU nationals looking to invest in Greece.
A Greece residence permit is issued for five years to those non-EU nationals provided that one satisfies the following investment criteria:
- Invest in real estate property in Greece, provided the minimum value of the property is €250,000, or
- Invest in a timeshare agreement for a minimum of 10 years, provided the minimum value of the lease is €250,000, or
- Invest in a plot of land amd erect a building, provided that the cumulative value of the land purchase and the contact with the construction company is €250,000.
The applicant can also decide to acquire the property from a legal entity, provided that he owns 100% of the company shares.
This residence permit is granted for life, however the holder of the residence permit is required to renew it every 5 years, provided that the real estate property is held by the applicant in full ownership.
Benefits
The main benefits of the Greece Golden Visa are the following:
- The right to live, invest and do business in Greece
- Greece is a member of the European Union and the Eurozone
- Visa free travel to the Schengen Countries
- Family members may be included
- Investment in a promising real estate market
- Connected with the main international airports
- No minimum physical requirements
- May lead to citizenship after 7 years of residency
Why Work With Us
We are able to advise you on the requirements and tax and legal implications of the Greek Golden Visa programme and indicate the expected time frames based on the specific cicumstances and nature of your applation.
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