Golden Visa in Greece
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Your Options for a Wealth Visa in Greece
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What is the Golden Visa?
The Golden Visa is a Greek residence permit and is one of the most popular investment visa programs in the European Union. It is a residence-by-investment visa and is issued to non-EU citizens who purchase in real estate in Greece.
It is exceptionally competitive as it offers the lowest cost option for residency in Europe. Applicants are granted a five-year residence permit in return for a property investment of as little as €250,000.
The Greek Golden Visa program’s minimum investment has increased to 500,000 EUR, effective May 1st, 2023. Greece Golden Visa change applies geographical limits to real estate investments, affecting properties in specific municipalities in Athens, Thessaloniki, Mykonos, and Santorini.
It also paves the way to citizenship if the holder resides in Greece for seven years and allows for visa-free travel throughout Europe’s Schengen region. Furthermore, there is no requirements to become a Greek tax resident.
How to obtain a Golden Visa?
For most applicants, there are two ways to apply for Greece’s Golden Visa. You can either submit the application for an entry visa at the Greek Consulate or Embassy in your home country or appoint a lawyer to act on your behalf via Power of Attorney.
With the entry visa, you can enter the country and decide upon your real estate investment. Our real estate lawyers can help ensure you select the right property for you by performing thorough due diligence. This process helps eliminate the risks of hidden debts or property defects.
After this, the applicant must file a Residence Permit application with the Ministry of Immigration, which can be executed in-person or via Power of Attorney, provide their biometric data once the application is approved.
One of the best things about the Golden Visa is that it can renewed indefinitely by simply maintaining the investment in Greece. That means keeping the asset and not selling or transferring it. You must also be able to show that you have sufficient financial means to live in Greece and have a valid medical insurance policy.
What’s more is that the renewal process doesn’t require any minimum stay within Greece, so holders only need to visit the country once during the validity of the residence authorisation.
Process of getting the Greek Golden Visa
1. Secure an entry visa
File an application for an entry visa in your home country’s Greek Consulate or Embassy. You can also use Power of Attorney to appoint a lawyer to act on your behalf to make the process faster and simpler.
2. Decide on your investment
Work with a trusted partner to make your €250,000 investment safely and securely. An experienced real estate lawyer will give you confidence in your investment decision so that you put your best foot forward in Greece.
3. Gather the documentation
Collect the necessary paperwork, like passport details and proof of sufficient funds, to support your application. All the documentation should be legalized and in many instances it may need to be translated into Greek.
You can also apply during a 90-day stay as a tourist. In this case, you can apply directly for the residence permit and receive a two-year visa.
4. Secure the Residence Permit
File the Residence Permit application at the Ministry of Immigration, which can be executed via Power of Attorney, and once submitted the applicant will receive a confirmation called a “Blue Certificate”. This is a temporary residence permit that is valid for one year. All applicants must provide biometric data, such as a digital photo, fingerprints and a signature.
Once approved, the Golden Visa is issued for five years and can be renewed indefinitely. The Residence Permit allows the applicant to live in Greece but not work, however they can set up a business locally.
Real Estate Investment
For this approach, you must invest at least €500,000 in one or more properties. The investment cannot includes taxes, fees or a mortgage.
Our team of Real Estate lawyers can assist you with the process of purchasing a property, in person or remotely.
What are the main requirements?
All non-EU citizens who enter Greece legally through any type of entry visa or already residing in Greece legally, are eligible to apply for the golden visa, through the following methods.
- Owning real estate property in Greece either privately or through a 100% privately owned legal entity. The property must have a minimum value of €250,000.
- Sign a timeshare agreement that’s at least ten years long. This can be for hotel accommodation or furnished tourist residences in a tourist resorts, provided that the lease has a minimum value of €250,000.
- Fully and legally own real estate property in Greece with a minimum value of €250,000 which was acquired through a donation or parental concession.
Move with your Family
The holder of a residence permit may be accompanied by their family members and enjoy their new life in the sun together. Greek Immigraion laws defines family members as the following:
- The direct ascendants of the investor and/or their spouses. This includes parents and parents-in-law.
- The direct descendants of the investors and/or their spouses, who are under the age of 21 years old. In some circumstances this be extended up to 24 years old.
What can a lawyer do for me?
Our office of Immigration experts is able to assist with the following:
- Assist you with the stage of selecting the most suitable property according to your particular needs and accompany you through all the steps of the transaction.
- Review all documentation and advise on the appropriate residence permit depending on your case.
- Arrange for the translation and certification of documents where necessary. We offer full assistance in English, French or Italian.
- Arrange for an appointment with the Ministry of Immigration, prepare the application to be submitted and accompany you on the day of submission.
- Keep track of your application process and collect your residence permit once it’s ready.
What are the benefits:
- The investment may consist of more than one properties, residential or commercial, and there are no restrictions regarding the location, the age or the exploitation of the assets.
- It can be renewed indefinitely provided that the ownership of assets is maintained.
- There is no minimum stay requirement for applicants to retain or renew the residence permits.
- Greece is a member of the EU Schengen Zone, so the holders of the Greek Golden Visa enjoy the privilege of free movement within the Schengen Zone, without any requirement for further visa applications. The stay in those countries cannot exceed 90 days in each 6-month period
- The application covers three generations (investor and spouse, parents of both the investor and his/ her spouse and any children up to the age of 24)
- Eligibility to apply for citizenship after seven years of residence.
Our Work Is To Make Clients Happy
We are a department formed by qualified legal experts who have been trained in the field of immigration law. We work on these requests every day and it’s our passion. For us, Lexidy is a way of life and what excites us the most is to be able to deliver the happiness and satisfaction of a successful immigration process. We want to help you achieve your goals and dreams.