Greece Residence Permit (Golden Visa)
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Greece is one of the European countries that offers the opportunity to obtain the “golden visa” — in other words, to acquire Greek permanent residency permit for investors via property acquisition. The country is especially interested in foreign investments now that it went through the turbulence of financial crisis and was on the verge of default.
Greece launched its “Residence Permit by real estate acquisition or strategic investment” program in 2014. As of October 2017, over 1,700 foreign investors purchased their Greek Golden Visas, with record peak activity registered in June 2016. Around 40% of applicants are Chinese citizens, and a little over 300 applications were submitted by residents of the Russian Commonwealth, as of 2017.
The Greek residence permit via immovable property acquisition is one of the easiest ways to open the gateway to Europe. The program poses no requirements to stay in Greece before or after the permit is issued. The Greek Golden Visa is valid for 5 years and is further continuously renewed for 5-year periods. The foreign investor’s whole family can be included in the application.
Visa-free travel inside Schengen Area
Possible tax planning benefits
The spouse, dependent children up to the age of 23, dependent parents and grandparents of the main applicant or his spouse may apply for the residence permit
All family members may obtain the residency within 2-3 months
No requirement to reside in Greece before or after residence permit is granted
Only one visit to Greece required
The minimum Real Estate investment (excluding taxes and fees) € 250.000
Other costs:
A real estate sale and purchase agreement costs (includes all duties (including cadastral), taxes, the cost of transfers and certificates, notary services, lawyer and real estate broker fees)
approximately 10% of the value of the property
Issuance of Residence permit (per applicant over the age of 18)
€500
Medical insurance (per applicant)
from €300
Example of all expenses
Step by step procedure
Requirements
Checklist of documents
10 FAQ
Information about the country
Usually the process takes up to 3 months. Investors must meet following criterias:
Absence of sanctions, restrictions or prohibitions to entry the EU, USA, UK and Canada A background free of bankruptcies and previous convictions and a favorable credit history are welcomed
Good health
Who can obtain the residency of Greece with the main applicant?
The spouse
Children under the age of 18
Children who have reached the age of 18 but are under 23 years old, are studying at university and are fully supported by the main applicant
Parents or grandparents of the main applicant or his spouse, who are living with the main applicant and are fully supported by the main applicant
Before you apply for citizenship we will perform the background check for free
Want to apply for a free background check?
Guaranties
Residency by investments is the official state program We provide the preliminary background check, analyze risks and submit a preliminary report We charge our services fee after you receive the residence permit. You only pay for the results!
INTERESTING FACTS!
The economy of Greece is actively recovering after the crisis. The Hellenic Statistical Authority predicts a 2.7% growth in economic indicators by the end of 2017, and a 3.1% growth in 2018. The numbers point to a better environment for financial stability, asset security, and widening opportunities for international business. In May 2017, the Greek government announced their intentions to introduce some new investment options to the Golden Visa program, namely, the opportunity to obtain the residence permit through investing €250,000 in government securities. Nevertheless, migration experts are of the opinion that the real estate investment option will remain the most popular among foreign investors. The investor is free to choose which realty to invest in, be it residential or commercial property, bought via primary or secondary real estate market. To obtain a Greek residence permit, the chosen real estate object must cost at least €250,000. To ensure status retention and subsequent permit extension, the investor must hold the property without selling it. However, the object can be “replaced” by way of selling it and immediately purchasing another one for the same cost. The investor is allowed to rent out and receive income. There is a wide and compelling real estate selection in Greece in the price range of €250,000-€300,000, whereas in Portugal, for instance, finding a suitable option under €500,000 could be tricky. Within the period of 2008-2017, the economic crisis has knocked down housing prices by 42%, as well as property purchase or transfer tax from 10% to 3%. This is a great opportunity for non-European investors to obtain a European residence permit and strike a good bargain in property buying. In 2015, Cristiano Ronaldo, the multi-millionaire star of the Spanish Real Madrid FC, was best man at his agent Jorge Mendes’ wedding, and presented the newlyweds with a Greek island, with the price running into the millions, according to media reports. Johnny Depp, Hollywood’s A-list actor, has purchased Greece's Strongylo island for a reported €4.2 million. Julia Roberts, Bruce Willis, Emir Kusturica — all own luxury homes in Greece.
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We work with more than 20 programs of residence and second citizenship for investments.
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