Launched in 2013, the Greece Golden Visa program offers a compelling residency-by-investment opportunity for non-EU citizens. By making a qualifying investment in Greek real estate or other eligible assets, applicants can obtain a Greek residency permit, granting them access to the benefits of living in the European Union.
There is no minimum stay requirement, and children up to the age of 21 are included in the family application. The visa is granted for five years and can be renewed every five years if the property investment is retained. While it is not necessary to live in Greece to retain and renew the visa, citizenship can only be granted after seven years of residency.
Key Facts about Greece
- Capital city: Athens (Αθήνα, Athína)
- Languages: Greek (official), English widely spoken
- Visa-free countries: 184 countries, including the US, Canada, UK, Australia, and most European countries
- Currency: Euro (€)
- Total area: 131,957 km² (50,949 sq mi)
- Population: Approximately 10.7 million people
- Nearest countries: Albania, North Macedonia, Bulgaria, and Turkey
- Seas: Aegean Sea (east), Ionian Sea (west), Mediterranean Sea (south)
- Time zone: Eastern European Time (EET, UTC+2) / Eastern European Summer Time (EEST, UTC+3)
Benefits of the Greece Golden Visa
- Fast Processing: Residency permits are typically issued within a few months of making the required investment.
- Low Costs: The government fees for the initial application and renewal are relatively low compared to other European Golden Visa programs.
- Flexibility: There is no minimum stay requirement, and the residency permit can be renewed every five years as long as the investment is maintained.
- Schengen Area Access: Greek residents can travel visa-free throughout the Schengen Zone, spending up to 90 days every 180 days in other member states.
- Asset Diversification: Investing in Greek real estate or other eligible assets can help diversify your portfolio.
Investment Options
To qualify for a Greece Golden Visa, you can invest in real estate or other assets:
Real Estate Investment:
- A minimum of €250,000 for properties outside Athens, Thessaloniki, Mykonos, and Santorini.
- A minimum of €500,000 for properties in Athens, Thessaloniki, Mykonos, and Santorini (as of July 31, 2023).
- 10-year lease agreements for hotel accommodations or furnished tourist residences.
Other Investment Options:
- A minimum of €400,000 in Greek government bonds.
- Bonds or shares in Greek real estate investment companies.
- Shares and bonds in Greek venture funds and private equity firms.
Conditions
If you purchase property:
- The property must be owned by you and still in your possession.
- If bought through a legal entity, you must own 100% of the company shares.
If you lease hospitality accommodation:
- The contract must cover at least 10 years and cost €250,000 in rent.
- The rent must be paid as a single payment for the entire lease period.
You can renew your Golden Visa every five years, provided you meet these conditions.
Conclusion
The Greece Golden Visa program offers a compelling opportunity for non-EU citizens to secure residency in the European Union. With its relatively low investment requirements, fast processing times, and the ability to travel freely within the Schengen Zone, the program presents an attractive option for those seeking a European foothold and the benefits of living in Greece.
Contact Dual Luxury World today to learn more about the Greece Golden Visa and how we can guide you through the application process.
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