How to Secure the Golden Visa in Greece: Unlock Your Mediterranean Dream

Wondering how to secure residency in Greece with an investment? The Golden Visa in Greece offers a straightforward path. With a minimum real estate investment of €250,000, non-EU individuals can obtain residency, enjoy Schengen Area access, and open the door to potential citizenship. Explore the qualifications, investment options, and application steps in this detailed guide.

Key Takeaways

• The Greek Golden Visa Program, established in 2013, allows non-EU citizens to secure residency by investing a minimum of €250,000 in Greek real estate, providing visa-free Schengen Area access, and a potential path to Greek citizenship after seven years without mandating that investors permanently reside in Greece.
• Eligibility for the Greek Golden Visa requires a minimum investment in real estate, clean criminal record, health insurance, and proof of financial ability, with the option to include family members without additional investment, and offers diverse investment opportunities in residential, commercial, and tourist-orientated properties across Greece.
• Investors can renew their Greek Golden Visa every five years, obtain permanent residency after meeting residency requirements, and pursue Greek citizenship after seven years of continuous residence and integration, with the process facilitated by hiring a reputable specialist or agent to provide guidance and manage legal and administrative tasks.

Understanding the Greek Golden Visa Program

Launched in 2013, the Greek Golden Visa Program has emerged as an enticing pathway for non-EU citizens to gain residency in Greece. Designed to attract global investors, this program opens doors to a world of benefits, such as visa-free access to the Schengen Area. And all this comes at a minimum investment of €250,000 in Greek real estate—a comparatively affordable option in the realm of investment programs.

But that’s not all! This program also caters to various investor lifestyles, as it does not necessitate permanent residency in Greece. So whether you wish to reside in Greece permanently or visit this Mediterranean delight from time to time, the Greek Golden Visa Program has you covered.

Key Features and Benefits

The Greece Golden Visa Program, also known as the Greek Golden Visa Program, is an embodiment of benefits. Successful applicants of the Greece Golden Visa Program can enjoy:

• Visa-Free Access to Schengen Area: One of the standout advantages of the Greece Golden Visa Program is the privilege of visa-free travel within the Schengen Area. This means holders of Greek residence permits can freely explore 26 European countries without the need for additional visas, facilitating seamless travel and business opportunities across the continent.
• Short Visits to Croatia, Cyprus, and Romania: In addition to access to the Schengen Area, participants in the Greece Golden Visa Program can enjoy short visits to Croatia, Cyprus, and Romania without the hassle of visa requirements. This expanded travel freedom enhances the program’s appeal by opening doors to additional European destinations for leisure or business purposes.
• Residency Benefits for Family Members: The Greece Golden Visa Program extends its benefits beyond the primary applicant by offering residency rights to close family members. This means that spouses, children, and dependent relatives can also obtain Greek residence permits, granting them access to Greece’s acclaimed healthcare and education systems. This provision underscores the program’s commitment to family unity and well-being, making it an attractive option for investors seeking to relocate with their loved ones.

With such affordability, the Greek Golden Visa Program is one of the most accessible routes to obtaining a Greek residence permit, thereby gaining residency in Europe.

Eligibility Criteria

Before you start dreaming of your life in Greece, it’s worthwhile to familiarize yourself with the eligibility criteria for the Greek Golden Visa Program. The eligibility criteria include:

• Minimum Investment Threshold: To qualify for the Greek Golden Visa Program, applicants must make a minimum investment of €250,000 in real estate, excluding taxes and fees.
• Legal Entry into Greece: Applicants must provide evidence of legal entry into Greece, demonstrating compliance with immigration laws and regulations.
• Clean Criminal Record: A clean criminal record is a fundamental requirement for eligibility.
• Health Insurance Coverage: Health insurance coverage is mandatory for both the applicant and any family members included in the application. This requirement ensures access to healthcare services during the residency period.

• Additional Criteria: Applicants must be non-EU/EEA citizens, at least 18 years old, and able to provide proof of income and financial capacity through proper documentation. This documentation helps assess the applicant’s ability to meet financial obligations associated with residency in Greece.

Real Estate Investment Opportunities in Greece

The Greek Golden Visa Program allows your investment to become your ticket to your dream Mediterranean home, making it the perfect opportunity to visit Greece. Greece offers a myriad of real estate investment opportunities, including:

• Athens: Immerse yourself in the vibrant energy of Greece’s capital city, Athens. With its rich history, bustling streets, and cultural landmarks, Athens offers a dynamic urban lifestyle ideal for both investment and living.
• Thessaloniki: Discover the charm of Greece’s second-largest city, Thessaloniki, nestled along the tranquil shores of the Thermaic Gulf. With its blend of historical architecture, vibrant nightlife, and thriving cultural scene, Thessaloniki is a sought-after destination for real estate investment.

• Mykonos: Experience the epitome of island luxury on the picturesque shores of Mykonos. Renowned for its stunning beaches, cosmopolitan atmosphere, and iconic whitewashed architecture, Mykonos offers unparalleled investment opportunities in upscale residential properties and holiday villas.
• Santorini: Delight in the breathtaking beauty of Santorini, with its iconic cliffside villages, crystal-clear waters, and awe-inspiring sunsets. Investing in real estate in Santorini allows you to own a piece of paradise and capitalize on the island’s thriving tourism industry.

The Greek real estate market caters to a diverse range of preferences and investment goals. Whether you’re interested in residential properties, commercial spaces, or furnished tourist residences, Greece offers a wealth of options to suit every investor’s needs.

By leveraging the Greek Golden Visa Program, investors can turn their real estate investment into a pathway to residency in Greece while enjoying the unparalleled beauty and lifestyle offerings of this Mediterranean paradise.

Popular Destinations

You might be curious about the most sought-after destinations for real estate investment in Greece. Central Athens, with its historical attractions and thriving commercial environment, is a prime location for investors. Smaller properties here are particularly easy to rent, making them an attractive investment option. But if you prefer the island life, Santorini, with its distinctive architecture and high tourist traffic, presents lucrative rental opportunities for investors.

South Athens, known as the ‘Chest of Athens,’ is popular for its sea view properties, while North Athens boasts large villas in a wealthy enclave thriving with embassies, offering a high standard of living. And let’s not forget Crete, the largest Greek island. Exquisite seaside villas here command strong rental yields, making it a favorite among investors.

Types of Properties

In Greece, the types of properties available for investment are as diverse as the landscapes themselves. Residential properties, especially in urban centers like Athens and popular tourist destinations like Crete and Santorini, are highly sought after due to strong demand and rewarding rental yields. Commercial real estate, such as office spaces and retail areas, offers significant investment opportunities, particularly in urban business districts and regions with high tourist visitation.

Mixed-use properties, which combine residential and commercial elements, are becoming increasingly popular due to their flexibility and potential to generate returns from diverse income streams. And with Greece’s robust tourism industry, properties tailored for short-term rentals are in high demand, with investors often using platforms like Airbnb to capitalize on this sector.

Alternative Investment Options

Though real estate investment is a commonly chosen route to the Greek Golden Visa, there are other options available for foreign investors. The program offers several alternative investment options that can be just as rewarding, including:

• Capital Contribution
• Shares
• Bonds
• Government Bonds
• Capital Transfer

There’s an investment option to suit every investor’s needs.

Shares, Bonds and (or) Government Bonds

If you’re a keen investor, government bonds, shares, and corporate bonds may be right up your alley. The Greek Golden Visa Program allows for investment in:

• Greek government bonds valued at a minimum of €400,000 with a remaining maturity of at least three years
• shares or corporate bonds valued at a minimum of €800,000, which are eligible for trading on Greek regulated markets or multilateral trading mechanisms
• units of a mutual fund or an alternative investment fund, each valued at least €400,000

Whichever option you choose, you’ll need to provide certificates from the relevant financial institutions detailing your investment.

Capital Contribution

Capital contributions present another alternative investment option for the Greek Golden Visa. You could consider making a minimum contribution of €400,000 to a company registered in Greece—barring portfolio investment companies and real estate investment companies—for acquiring shares during a capital increase or bonds eligible for trading on regulated markets or multilateral trading mechanisms in Greece.

Alternatively, you could make a similar contribution to a real estate investment company planning to invest exclusively in Greece for share capital increase. Contributions can also be made to a closed-end investment company or a closed-end mutual fund for share acquisition, provided these entities plan to invest solely in Greek companies.

Capital Transfer

Lastly, a capital transfer through opening a deposit account at a Greek bank is another alternative investment option. A term deposit valued at a minimum of €400,000, held for at least a year with a standing order for renewal, can pave the path to your Greek Golden Visa.

Application Process and Timeline

After determining the investment that best fits your needs, the next step is to go through the application process. The process for the Greek Golden Visa involves obtaining an entry visa, selecting a property or investment, and submitting the necessary documents. While the process may seem daunting, it’s made more manageable with a clear understanding of the steps involved.

Preparing for the Application

Starting your journey towards the Greek Golden Visa begins with preparation. To do this, you will need to obtain a Greek Non-Resident Tax number and then proceed to open a Greek bank account. While personal presence in Greece is not required to start the application process, engaging a professional company for assistance can make the process smoother and more efficient.

Submitting the Application

After preparing all the necessary documents and finalizing your property or investment choice, you can proceed with the application submission. The application, along with the necessary documents, must be submitted to the Aliens and Immigration Department in Greece. These documents include personal identification, proof of investment, and other required documents.

After submission, the application process typically takes between 2-3 months.

Post-Approval Steps

Your journey doesn’t stop at the application approval. After the Greek Golden Visa application is approved, successful applicants and their family members must submit biometric data, which includes fingerprints, for the issuance of the residence permit card. Once this data is collected and processed, the Aliens and Immigration of the Decentralized Authority issues a Golden Visa Residence Card.

During this period, the holder can take necessary actions to address any potential issues with their investment.

Renewal, Permanent Residency, and Citizenship

Securing your Greek Golden Visa opens up a world of possibilities. Here are some key benefits:

• No Residency Requirement: There’s no obligation to reside in Greece to maintain your Golden Visa status, providing flexibility for your lifestyle and travel plans.
• Expedited Residence Permits: Residence permits can be obtained swiftly, typically within 60 to 90 days of application, allowing you to establish your presence in Greece without delay.
• Renewable Visa: The Golden Visa can be renewed every five years, ensuring continuous residency status and stability for you and your family.

• Option for Permanent Residency: Golden Visa holders have the option to pursue permanent residency in Greece, offering a secure and long-term solution for residency needs.
• Pathway to Greek Citizenship: After seven years of uninterrupted residency in Greece, Golden Visa holders become eligible to apply for Greek citizenship. This pathway provides a route to full integration into Greek society and access to all the privileges and rights of Greek citizenship.

By obtaining your Greek Golden Visa, you unlock a gateway to a brighter future, with the opportunity to build a prosperous and fulfilling life in Greece.

Renewing the Golden Visa

The process of renewing the Greek Golden Visa is fairly simple. Here are the steps to follow:

1. Maintain full ownership of the real estate property.
2. Uphold valid lease contracts that match program requirements.
3. Continue not to be obligated to reside in Greece.

As long as you meet these requirements, the renewal is usually a smooth process. An agent can assist with this process, ensuring that all necessary documents are provided in a timely manner.

Obtaining Permanent Residency

Upon obtaining a Greek Golden Visa, residence permits can be renewed every five years. This renewable status ensures continuous residency in Greece, providing peace of mind and security for you and your family.

With the option to renew residence permits, Golden Visa holders can maintain their presence in Greece and continue to enjoy the benefits of residency, including access to healthcare, education, and employment opportunities.

By securing permanent residency, individuals can establish deeper roots in Greece, fostering a sense of belonging and integration into Greek society. This pathway lays the foundation for long-term residency and potential pathways to citizenship in the future.

Applying for Greek Citizenship

The Greek Golden Visa provides an avenue for those who aspire to become Greek citizens. After seven years of continuous residency in Greece and becoming tax residents during this period, Golden Visa holders can apply for Greek citizenship. This involves:

• Establishing close ties with Greece
• Passing a language test
• Demonstrating a genuine connection with Greek culture, history, geography, and government structure.

The citizenship application process commences after sustaining the seven-year residency, and applicants must prepare and submit their naturalization application.

Choosing the Right Partner: Working with a Reputable Specialists

Selecting the right partner to assist you in obtaining a Greek Golden Visa is crucial for a successful and stress-free experience. Here’s why working with a reputable specialist like Imperial Citizenship is beneficial:

• Personalized Support: A specialist understands that each applicant has unique needs and circumstances. They offer personalized assistance tailored to your specific requirements, ensuring that you receive the guidance and support you need throughout the entire process.
• Expert Guidance: Navigating the complexities of the Greek Golden Visa program can be challenging. With the expertise of a reputable specialist, you gain access to valuable insights and advice from professionals who are well-versed in the intricacies of the program. They can provide clarity on eligibility criteria, investment options, and documentation requirements, helping you make informed decisions every step of the way.

• Comprehensive Services: From preparing your application to selecting the right investment opportunity and submitting biometric data, a reputable specialist offers comprehensive services to streamline the process. They handle all administrative tasks on your behalf, ensuring accuracy and compliance with program requirements.
• Efficiency and Confidence: With the support of a specialist, you can navigate the Greek Golden Visa process efficiently and confidently. Their experience and knowledge of the program minimize delays and maximize the likelihood of a successful outcome, giving you peace of mind throughout the journey.

By choosing to work with a reputable specialist like Imperial Citizenship, you can expedite your path to obtaining a Greek Golden Visa and unlock the many opportunities that residency in Greece has to offer.

Benefits of Hiring Right Partner

Engaging the services of an agent can significantly streamline your Greek Golden Visa journey. An agent with a proven track record and demonstrated expertise can:

• Navigate the complexities of the application process
• Assist with document translation and notarization
• Handle application submissions

By working with an agent, you can make the process effortless and efficient.

Tips for Selecting Firm Specialized in Helping Investors Obtain a Residencies

In choosing a company, prioritize those with a solid track record, transparent practices, and proven efficiency in managing biometric data collection. Whether it’s handling document translation, notarization, and application submissions or conducting thorough preliminary due diligence, the right agent can simplify the process and enhance the chances of success.

Contact us

Feel free to reach out to us with any questions or if you require a detailed breakdown of the costs for your family. We are here to assist you and would be delighted to help. Please don’t hesitate to contact us today.

Summary

The Greek Golden Visa Program is a golden opportunity to turn your Mediterranean dream into reality. With an array of investment options and straightforward application process, this program is a beacon of hope for non-EU citizens aspiring to call Greece their home. With the right preparation and guidance from a reputable specialist, the journey towards your Greek residency can be as rewarding as the destination itself!

Frequently Asked Questions

What are the eligibility criteria for the Greek Golden Visa Program?

To be eligible for the Greek Golden Visa Program, you need to make a minimum investment of €250,000, be a non-EU/EEA citizen, have a clean criminal record, and show proof of income and financial capacity.

What are the alternative investment options for the Greek Golden Visa?

For the Greek Golden Visa, alternative investment options include government bonds, business investments, corporate bonds, and bank deposits. These options provide flexibility for investors seeking the visa.

What is the application process for the Greek Golden Visa?

The application process for the Greek Golden Visa involves obtaining an entry visa, selecting a property or investment, and submitting the necessary documents, with a processing time of 2-3 months.