Greece is a huge, complex, and visually gorgeous country with sun-drenched islands, towering mountains, busy cities, and ageless customs. It is bright, inviting, and full of surprises, wrapped in the warm embrace of the Aegean Sea. The sights and sounds of Greece captivate you from the moment you arrive: sparkling whitewashed buildings along tree-lined promenades, the legendary Parthenon standing tall above the bustle of the capital, wizened old fishermen mending nets along the seaside, the bright colors of produce in farmers’ markets, and the bleating of goats on the fringes of an age-old village. You can live there with the Golden Visa Greece.
Requirements to obtain the Golden Visa Greece
To be eligible for a Golden Visa in Greece, you must be a citizen of a non-EU/EEA nation, at least 18 years old, have a clean criminal background, and have health insurance. You no longer need to visit Greece in person to apply for your Golden Visa as of 2021. There are various sorts of investments that will qualify you for a Greece Golden Visa such as:
- A minimum of 250.000€ is required for the acquisition of a real estate property in Greece. The real estate property must be owned by you; if you purchased the property through a legal entity, you must hold 100% of the company shares.
- Ten years of a leasing arrangement, whether for hotel accommodations or furnished tourist homes in integrated tourist destinations. The contract must cover at least ten years and €250,000 in rental amount, and must demand a single payment of rent for the equivalent of the ten-year leasing of the property.
- A minimum investment of 400.000€ in Greek government bonds, bonds or shares of Greek real estate investment firms, or shares and bonds of venture capital and private equity funds with a Greek headquarters
Benefits of a Golden Visa
You and your family can live in Greece with the Greece Golden Visa. The Greece Golden Visa allows you to enroll your spouse and children under the age of 21, making all of them eligible for and may enjoy all of the benefits of a Golden Visa card. The primary applicant’s parents and parents-in-law are also eligible for cards with no further criteria.
The right to live in Greece includes access to public healthcare and education, and the Golden Visa also allows you to travel freely across the Schengen area. There is no time limit on how long you may remain, and there is no requirement for a minimum length of stay. Depending on your place of residency and the length of time you spend in Greece, your overseas income may or may not be taxed in Greece. You may continue to do business outside of Greece while benefiting from tax breaks. As of January 2021, Greece has also offered tax breaks to foreigners living in the nation as tax residents. The Golden Visa is valid for five years and can be renewed as long as the investment is maintained. You can apply for Greek citizenship after seven years of continuous residency.
Documents required in the application process
The application process is fairly straightforward. You must first determine your investment criteria and then choose the property where you’d like to invest. You can invest in a variety of features as long as the value is equal to or more than 250.000€.
You’ll need to get a Greek Non-Resident Tax ID and create a Greek bank account, and prepare all of the needed documentation for the Golden Visa application. It is recommended to hire a lawyer because this may be daunting. A lawyer must do the property’s “Legal Due Diligence” on your behalf. Following that, you’ll need to obtain a promissory sale and purchase agreement as well as the completion of a public deed. The following documents are necessary for the application:
- a photocopy of your passport
- a photocopy of your VISA.
- a copy of the property’s finalized contract.
- a copy of the contract’s record at Greece’s Land Registry and Cadastre.
- a Permanent Residence Permit, which costs 2.000€.
- A Residence Permit card, which costs 16€.
- photographs of the applicant
After submitting your documents and obtaining approval for your Golden Visa, you will be issued a Golden Visa Residence Card.
The Greek government issues Greece Golden Visa cards that are good for five years. Your residency permit must be renewed every five years. The criteria for renewing your visa are as follows: the real estate property must be completely owned by you, the principal applicant, or the applicable leases/contracts are still valid and meet the requirements. The following documents are necessary for renewing your Golden Visa:
- a completed application
- four colored passport photos taken recently
- a genuine copy of valid passport or other approved travel papers issued by Greece
- a certified copy of the prior permanent residence card
- an insurance company’s certification of the expense of hospitalization and medical services.
Under some circumstances, the authorities may need extra documentation in order to renew the residence permit.
Orience International offers complete solutions for residency and citizenship by investment programs in a variety of countries across the world. We deal with clients from all over the world who want to get Greece Golden Visas or make real estate investments in Greece. Contact us to speak with one of our legal professionals who can assist you with your inquiries.