In just 60 days and for as low as €250,000, the fastest and lowest cost entry to Europe, international investors have the opportunity to obtain EU residence through the Golden Visa Greece. The country is known for its spectacular views and Mediterranean lifestyle, where famous historical locations, art, and gorgeous metropolis attract tourists from around the globe all year long.
Real estate experts have chosen it as a target for its potential in growing a business by investing in real estate, while having the chance to benefit from the various advantages of acquiring the Golden Visa Greece. Some of these advantages include: the primary applicant and members of his family have access to free healthcare and the prestigious educational system of the country, as well as to travel to the different countries in the Schengen area, such as Switzerland and Spain. In addition, Greece has been labeled as the new hot investment destination for its price drop since the crisis of 2010, offering plenty of top quality real estate in the market at an affordable price.
The different investment options under the Golden Visa Greece which possible international applicants may choose from are:
Purchasing real estate of €250,000, to be held for the duration of residence and for a minimum period of 5 years.
Lease real estate or timeshare of €250,000 to be held for the duration of residence and for a minimum of 5 years.
Some of the best neighborhoods to buy real estate in the country for a reasonable price are in Kerameikos, Psirri, Exarcheia, and Kypseli, for their easy access to public transportation and its proximity to the famous Acropolis.
Once you have decided which option to choose and the place you prefer to purchase real estate, it is time to determine the use of your new property. The return on rental investment in Greece usually varies between 4% and 6%, which is why many real estate investors that have purchased apartments in the tourist areas, such as the Cyclades (in particular in Santorini and Mykonos), Crete, Rhodes or Porto Heli choose to rent out their properties and become part of the popular Airbnb market. However, if you receive income in the country, you will have to pay for the “non-resident” income tax, wherein property income is taxable at 15% up to €12,000, 35% between €12,000 and €35,000, and 45% for annual rental income above €35,000. Nevertheless, if the duration of the rental does not exceed 90 days per year and 60 days on islands with less than 10,000 inhabitants, owners will not be subject to tax.
Another option for Golden Visa Greece holders is to turn the country into your home, where you will enjoy its amazing climate and marvelous landscapes, while spending an average of 30% less than many other EU countries. Moreover, many have chosen safe and welcoming Greece as their “plan b“, or their retirement haven, as owning an EU residency permit allows the whole family to benefit from its advantages, which include having access to a high standard of schooling and health service for free. This plan B for your family will give you the opportunity to enjoy a more prosperous life, wherein you will be able to choose freely to leave your country and move to Greece when in crisis situations, or in unexpected life-threatening situations that involve the country you are currently residing.
For global investors that may need to keep their investment safe, we offer a full service through the Orience Membership Club.