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Fabulous Greece | The most affordable Golden VISA program in Europe

Greece, the cradle of Western civilization, is where philosophy, democracy, literature, theatre, and the Olympic Games were born. There are few places on earth so enriched with history and blessed with astonishing natural splendour… and there is no better city to begin your love affair with this amazing country than its exciting, ultra-liveable capital: Athens.

Athens embodies everything wondrous about the Mediterranean lifestyle: brilliant cuisine, appealing weather, endless leisure activities, and a relaxed approach to day-to-day life that focuses on family, friendship, and tradition.

Athens is truly the pulsing heart of Greece. It’s accessible to Asia, Africa, and major European destinations. You can fly there non-stop from New York City in less than 10 hours. It’s also the gateway to the iconic Greek islands, a sun-swept wonderland of summer fun and azure seas where wild dolphins play and gleaming yachts bob at anchor.

Despite its size (more than 3,5 million inhabitants), many parts of Athens don’t feel like a big city at all. There are plenty of quiet neighbourhoods where you can find peace and serenity and enjoy the chilled-out Greek way of life.

Greece is famous for its turquoise waters and breathtaking sandy beaches. Whether you are looking for an organized beach with sunbeds, umbrellas, beach bars and tavernas where you can party all day long or more secluded beaches with a peaceful environment to sunbathe and read your book, Greece has it all.

The official language of Greece is Greek, spoken by 99% of the population. … The most common foreign languages learned by Greeks are English, German, French and Italian.

At the end of 2020, Greece’s Parliament passed a new law that caught the attention of digital nomads from every corner of the planet. As a matter of fact, this new law allows digital nomads to reduce their income tax by half, thus putting Greece among the most favourable places for digital nomads to live. For HNWs that are tax residents in Greece, irrespective of the size of their wealth or income their taxes are capped!

Why is the Greece Golden VISA Program so successful?

The Greece Golden Visa Program is considered one of the most affordable residence-by-investment programs that provide access to Europe. Successful applicants and their families are able to benefit from visa-free access to Europe’s Schengen Area within two months of applying.

What is the law that enables the Greece Golden VISA program?

The Greece Golden Visa Program is designed for non-EU/ EEA citizens to acquire Permanent Residency in Greece. The Program offers Permanent Residency to non-EU/ EEA citizens who purchase new property worth at least €250,000 (+ taxes). The legal basis of the program concerned (entry and residence for investment activity) is found in Article 16 of Law 4251/2014, as amended and completed by Article 8 (par. 21) of Law 4332/2015 and Article 84 (par. 1 to 6) of Law 4399/2016.

What are the key advantages of the Greece Golden Visa Program?

Visa-free travel within Europe’s Schengen Area
No requirement to reside in Greece
Residence permits can be acquired within 30–60 days
The unlimited expiry date of residence permit
Opportunity to rent out the investment property
Residence applicable to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse)
Eligibility to apply for citizenship after seven years of residence
Ability to hold shares and receive income from the dividends of a company registered in Greece (but not to be employed in Greece)

Do both spouses qualify?

The amount of €250.000 refers to the price indicated on the contract excluding Value Added Tax. In cases of joint ownership of the real estate property by spouses, the residence right is granted to both spouses.

Can I purchase more than one piece of property?

You are entitled to residency rights irrespective of whether you own one or more properties, provided that their combined value is equal to or greater than €250.000 excluding taxes.

Can I buy commercial property or a combination of commercial and residential properties or land?

The law states that €250.000 must be the stated price on the contract excluding taxes. It does not distinguish between commercial and residential properties.

The options are:

  1. An investment in real estate property with a minimum value of EUR 250,000, plus the applicable taxes
  2. A 10-year lease agreement for hotel accommodation or furnished tourist residences in tourist accommodation complexes (Article 8 of Law 4000/2001)
  3. A 10-year time-sharing agreement for hotel accommodation (Law 1652/1986)
Can the children of the residence permit holder attend a Greek public school?

The holders of the residence permit have access to public education, as do Greeks.

What is the arrangement regarding the access to health services?

Regarding access to health services, non-EU/EEA citizens and their family members who fall under the regulations of the current immigration law must have national or private (if provided by their national legislation) insurance that covers their healthcare and medical care expenses while they are in Greece. Emergency treatment is available through the public health system for all.

Can I purchase a car with Greek license plates for my transportation needs in the country?

Yes, under the specific regulations of the Ministry of Transport, which apply to non-EU/EEA citizens.

Can I take a mortgage out on the property in order to receive a loan?

You can take a mortgage out on the property, in the same way as Greeks, subject to requirements of the Greek Banking regulations.

Is it required by the investor to prove economic capacity?

The income of the applicant must be proven by documentation which proves their capacity to invest

If someone holds a long-term Visa for a different Schengen country, does this Visa need to be cancelled to obtain a visa in Greece?

A Schengen visa by a different country gives the applicant the ability to enter Greece and settle issues regarding the purchase of the property.

Does the residence permit continue to be valid if the real estate property is transferred/resold?

In cases when the real estate (property) is transferred, the non-EU/EEA citizen loses the right to residence. In case of resale of the property during the period of validity of the residence permit to another non-EU/EEA citizen, the right to a residence permit is granted to the new buyer along with a simultaneous revocation of the seller’s residence permit.

Is it possible to rent the real estate property to third parties?

Non-EU/EEA citizens who own real estate have the right to rent their property

Is it necessary to hire a lawyer to collect the documentation?

There is no legal requirement to collect and process the documents through a lawyer. In cases where the applicant does not speak Greek and/or is located outside of Greece, the process is smoother using a representative who is familiar with the process

Are unmarried partners entitled to a residence permit?

Currently, family members do not include unmarried partners. Ministry of Migration Policy is examining the possibility of reviewing the current legal framework in order to facilitate the admission of unmarried partners under certain conditions (civic partnership, durable relationship).

Can I travel to other countries within the EU with the residence permit for owners of real estate? Are there any conditions related to this?

Yes. The residence permit and long-term visas are valid as far as the free movement of the person in the Schengen area is concerned. Any citizen who holds a long-term visa (such as the residence permits for real estate owners) which has been issued by a member state and are valid for one year are able to travel to other member states for up to 3 months within a six month period, under the same conditions which apply to the holder of a residence permit, while they are also granted a right for multiple entries.

Can I travel in Schengen countries directly, after my residence permit has been issued, from my country, or do I need to first come to Greece?

You can arrive in any Schengen country you wish to

Can the residence permit be considered as a work permit? Can my spouse, the legal representative of my company, my children, or myself, work in Greece?

In no case does the residence permit provide access to any type of paid employment. Employment, according to paragraph 6, article 20, of Law 4251/2014, does not include the exercise of economic activity in the capacity of a shareholder or a Chief Executive Officer for an already existing company. The family members that have been issued a residence permit for the same duration as the sponsor are similarly not granted access to the employment market.

Does the residence permit give me the right to apply for citizenship?

Yes. According to the decision of the Minister of Interior no.130181/6353/27.3.2018, published in the Government Gazette
1208/Β/2.4.2018, the residence permits of Real Estate Owners and permanent residence permits for Investors have been added to the categories of residence permits that are eligible for citizenship.

GREECE | Golden VISA Residency Program | PR

with the option to evolve into EU Citizenship

The Process

Application Timeline

Step 1 - Review and Select Qualifying Investment

To receive a complete checklist of application documents and cost estimates for you and your family. If you apply for more than one family, ask us about a group discount. There is no fee for this initial consultation. Our team will advise you on unique/specific searches or present investment options taking into account your investment preferences.

Step 2 - Prepare Residency Application

Collection of documents such as birth certificates, marriage/divorce certificates, as well as police clearance that must be submitted with the application. This step takes approximately two (2) weeks once all documents are received. Liaise with us to ensure the correct documentation is obtained.

Step 3 - Application Review

The Greek Authorities issue a receipt of application which may be used as a temporary permit before the final residence permit is granted. The document is valid for a year. The application is reviewed, and due diligence checks are carried out. This step takes approximately two (2) months.

Step 4 - Golden Visa Issued

The permanent residency document (“Golden Visa”) is issued after a successful review of the application materials submitted to the government.

Step 5 - Citizenship Application

Following seven (7) years of residency, the applicant may file for Greek citizenship.
(A minimum of 180 days per annum)

The application process for residency is expected to take about two months. Government filing fees and attorney fees are in addition to the investment minimums.