- Residency by Investment
Greece is a country with 131,957 km² area and with the population of 10.8 million people. Greece is one of the most influential and ancient civilizations of the world. It is a cradle of democracy, philosophy, western literature, drama, mythology, science, Olympic Games etc… In addition, the beautiful beaches, food and cultural heritage make it one of the most visited places on earth. Natural beauty, sunny weather, white sandy beaches and beautiful hills give opportunity to any investor to enjoy there with his/her family. Greece is a country which can satisfy any tasty of the world people.
In recent years, in 2009 the country had a big economic crisis (known as Greek depression), which significantly hindered the country development. The economic crisis was mostly obvious in real estate market. In order to overcome the real estate crisis, in 2013 the Greek government established the Golden Visa program through Real Estate investment.
Legal Basis and procedure:
The Greek golden visa can be applied by non-EU citizens, who will invest at least 250,000 Euro in real estate located in Greece. The amount can be separated into several real properties. As Greece is a European Union (EU) member state since 1981, the Golden visa entitles the applicant to enjoy the status of EU resident. It has to be mentioned that Greek Golden Visa program is the cheapest way to become the EU resident compare to other southern European countries. It means that applicant and his/her family will be entitled to travel visa free to EU and Schengen countries.
The application procedure is as follows:
- There is no need to reside in the country.
- To finalize the procedure, it needs approximately 40 days, after making investment.
- Spouse and children up to 21 years old can apply the program.
- The applicant must have a medical insurance an clear criminal record.
- Besides the mandatory amount of investment (250,000 Euro), the investor must pay additional taxes equal to 24 %.
- There is no income tax on the income derived outside Greece. Rental income is taxed at rate between 11-33 %.
- The residence permit is issued for five years. This five year period can be renewed with another five year.
- Parents of investor and his/her spouse can also be included.
The applicant should be aware that residence permit does not give investor right to work, but it does not deprive the right to establish a business. Golden visa is one of the ways to get Greek citizenship. After 7 years, the investor can apply for the Greek citizenship.
Located in the continent of Europe, Greece shares land borders with 4 countries: Macedonia, Albania, Bulgaria, Turkey.
Euro (€) (EUR)
Unitary parliamentary republic
EET (UTC+2), Summer (DST) EEST (UTC+3)
Reasons to choose Greece?
- Beautiful country with beautiful beaches
- Opportunity to study, live and do business in EU member state
- Family included
- No minimum residency rule
- Quick process that needs approximately 40 days
- Obtaining Schengen residence card
- Permanent residence permit, which renewable after 5 years. This leads to Greek citizenship after 7 years
- The cheapest residency Programme in Europe
- Free travel to EU Schengen member states
Visa-Free/Visa-on-arrival: Albania, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Austria, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Bermuda, Bolivia, Bonaire, Sint Eustatius and Saba, Bosnia and Herzegovina, Botswana, Brazil, British Virgin Islands, Brunei, Bulgaria, Burkina Faso, Cambodia, Cape Verde, Cayman Islands, Chile, Colombia, Comoros, Cook Islands, Costa Rica, Croatia, Curaçao, Cyprus, Czech Republic, Denmark, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Estonia, Ethiopia, Falkland Islands (Malvinas), Fiji, Finland, France, French Guiana, French Polynesia, Gambia, Georgia, Germany, Gibraltar, Grenada, Guadeloupe, Guatemala, Guyana, Haiti, Honduras, Hong Kong, Hungary, Iceland, Indonesia, Iran, Iraq, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kiribati, Kosovo, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Lithuania, Luxembourg, Macau, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Montenegro, Montserrat, Morocco, Mozambique, Nepal, Netherlands, New Caledonia, New Zealand, Nicaragua, Niue, Norway, Oman, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Romania, Réunion, Saint Barthélemy, Saint Kitts and Nevis, Saint Lucia, Saint Martin (French part), Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Samoa, Sao Tome and Principe, Senegal, Serbia, Seychelles, Singapore, Sint Maarten (Dutch part), Slovakia, Slovenia, Solomon Islands, South Africa, South Korea, Spain, Suriname, Swaziland, Sweden, Switzerland, Taiwan, Tajikistan, Tanzania, Thailand, Timor-Leste, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turks and Caicos Islands, Tuvalu, Uganda, Ukraine, United Arab Emirates, United Kingdom, Uruguay, Vanuatu, Venezuela, Wallis and Futuna, Zambia, Zimbabwe
Electronic Authorization: Australia, Canada, Gabon, Guam, India, Kenya, Myanmar, Norfolk Island, Northern Mariana Islands, Puerto Rico, Sri Lanka, U.S. Virgin Islands, United States
Visa required prior to arrival: Afghanistan, Algeria, American Samoa, Angola, Azerbaijan, Benin, Bhutan, Burundi, Cameroon, Central African Republic, Chad, China, Congo Republic, Cuba, Côte d'Ivoire, Democratic Republic of the Congo, Equatorial Guinea, Eritrea, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Mongolia, Namibia, Nauru, Niger, Nigeria, North Korea, Pakistan, Russia, Rwanda, Saudi Arabia, Sierra Leone, Somalia, South Sudan, Sudan, Syria, Turkmenistan, Uzbekistan, Vietnam, Yemen
Entry denied: Libya