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Greece Golden Visa

Property Investment from €250,000

GREECE - GOLDEN VISA

Situated at the crossroads of Europe, Asia, and Africa, Greece holds the esteemed title of the cradle of democracy and the birthplace of Western civilization. Its rich history, spanning back to 800 BCE, has profoundly shaped language, arts, philosophy, politics, and physical pursuits worldwide. Even today, echoes of Greece’s magnificent heritage resonate through its capital city, Athens, where ancient landmarks still stand tall.

Comprising a mainland on the Balkan peninsula and a plethora of islands scattered across the Aegean and Ionian seas, Greece has emerged as a prominent European business hub and a premier global holiday destination.

The allure of Greece lies not only in its balmy Mediterranean climate and famed gastronomy but also in its cosmopolitan cities, pristine beaches, and the genuine warmth of its local traditions and hospitality. Consequently, many discerning individuals have chosen Greece as their second home.

As a member state of the EU, Greece offers its residents and citizens a number of reassuring benefits including high levels of safety and security, excellent education opportunities, robust healthcare options, and a dependable rule of law.

GREECE GOLDEN VISA BENEFITS

  • Visa-free travel within Europe’s Schengen Area
  • No requirement to reside in Greece
  • Residence permits can be acquired within 90–120 days
  • 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)

REQUIREMENTS OF THE GREECE GOLDEN VISA PROGRAM

Real Estate Options

The Greece Golden Visa Program is a residence by investment program launched in 2013 that enables non-EU nationals and their family members to obtain permanent residence permits in Greece. The residence permits may be renewed every five years.

The program’s qualifying options are:

  1. An investment in real estate property with a minimum value of EUR 250,000, plus the applicable taxes. Alternatively, a minimum of EUR 500,000 in Mykonos, Santorini, Thessaloniki, and most municipalities in Athens
  2. A 10-year lease agreement for hotel accommodation or furnished tourist residences in tourist accommodation complexes
  3. A 10-year time-sharing agreement for hotel accommodation.
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MINIMUM REQUIRED INVESTMENT

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TOTAL APPLICATIONS 2018-20

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MONTHS PROCESSING TIME

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SCHENGEN TRAVEL COUNTRIES

GREECE REAL ESTATE

The Greek real estate market was growing steadily for almost a decade before the global financial crisis of 2008–2009 triggered a sharp decline around the world. Although recovery was slower in Greece than in stronger economies, buying property in the country is still regarded as a safe, almost-risk free investment. Today, after 10 years of trending downwards, the country’s property market is once again attracting foreign buyers.

According to the Bank of Greece, at the end of 2017, real estate in Athens was 44% below its peak in 2008. However, this drop in property prices has rapidly slowed in recent years. The square meter price fell by 5.3% in 2015, by 1.8% in 2016, and by only 0.9% in 2017. In quarterly terms, prices remained consistent in the last quarter of 2017, and in the first three quarters of 2018, house prices finally showed a marginal increase for the first time since 2008.

Over the past few years, the real estate market has been thriving, thanks mainly to investments related to a booming tourism industry; tourist arrivals increased from 15 million in 2009 to 35 million in 2018. Given the attractive Greece Golden Visa Program and the popularity of Greece as a holiday destination, demand for holiday homes is rising, especially on the popular Greek islands.

Would you like to receive our Greece Golden Visa brochure, cost breakdown and investment options?

WHY USE RESIDENCY INVEST FOR YOUR GREECE GOLDEN VISA?

Holding period of real estate

Necessary to maintain and renew residence permit

Type of ownership

Sole or shared ownership

Minimum real estate investment

EUR 250,000

Rental income opportunity

2.5–4.5% on residential property 5–7% on commercial property

VISA FREE TRAVEL TO 26 SHENGEN COUNTRIES

Austria Germany Lithuania Slovakia
Belgium Greece Luxembourg Slovenia
Czech Republic Hungary Malta Spain
Denmark Iceland Netherlands Sweden
Estonia Italy Norway Switzerland
Finland Latvia Poland
France Liechtenstein Portugal