The Greece Golden Visa allows investors and their family to obtain residence permits in the European Union for a €250,000 real estate property investment, with a future potential rental yield of 4-7% via Airbnb.
How to Get a Greek Residence Permit Quickly: Golden Visa for Investment
One of the most popular investment visa programs in the EU is the Golden Visa for Greece. It is a residence-by-investment visa granted to non-EU citizens who contribute significantly to the Greek economy.
There are several investment options, but the most common is to buy real estate worth at least a quarter million dollars. Within two months of applying, successful applicants and their families will have visa-free access to Europe’s Schengen Area.
Golden Visas issued by EU Member States such as Greece are particularly sought after because they can lead to citizenship and thus access to the EU.
The Greece Golden Visa grants the investor and their immediate family members residence permits with immediate five-year residency, as well as free travel within the Schengen Zone.
Foreign nationals can obtain a Greek residence permit through the Golden Visa program in Greece by investing in national real estate.
The Golden Visa residence permits provide its holders with numerous advantages, including the ability to visit Greece even during travel restrictions and to travel across countries without a visa, indefinite residence in Greece, and the future right to obtain European citizenship.
Investment Options for the Greece Golden Visa
You must make one of the following investments to be eligible for a Greece Golden Visa:
- Purchase real estate worth at least €500,000.
- Sign a ten-year lease agreement with a hotel or tourist establishment.
- Make a capital investment of at least €400,000 in a Greek-registered company.
- Purchase €400,000 in Greek government bonds.
- Invest €400,000 in bonds or shares of real estate investment trusts.
- Deposit €400,000 in a Greek bank account.
- Invest €800,000 in corporate or Greek government bonds.
Although you should be in Greece to finalize your investment in most cases, you can do so remotely if you give Power of Attorney to a legal representative.
Who Qualifies for a Greece Golden Visa?
- You must be over the age of 18 to be eligible for a Greek Golden Visa.
- You must not have a criminal record in any country where you have lived.
- You must make a substantial investment in Greece (see the investment options above).
- You must have obtained health insurance from a Greek company.
The Advantages of the Greek Golden Visa
A Greek Golden Visa is one of the most competitive in the EU, and it comes with the following benefits:
- The investment thresholds are lower than in most other EU countries with Golden Visa routes.
- You can extend your visa to include family members such as your spouse, unmarried children under the age of 21, and dependent parents of either yourself or your spouse. If your child is over the age of 21, but under the age of 24, and a student, they may be eligible for the Golden Visa.
- You and your family members will be able to travel with residence permits to the Schengen Zone without a visa.
- There is no requirement to reside in Greece for any period of time in order to renew a residence permit.
- After purchasing your real estate property, you can choose to rent it out.
- After seven years of residence, you can apply for Greek citizenship. Because Greece is an EU member, you would have access to the EU free market as well as visa-free travel to over a hundred countries.
- You can live and invest in Greece.
- You can receive Greek education and healthcare.
Among similar European programs, the Greece Golden Visa offers one of the most favorable terms to foreign investors. Most importantly, it requires less investment than other European programs.
Investors can obtain a residence permit under favorable conditions by investing in the Greek economy, purchasing real estate, or entering into a long-term lease. Buying real estate property is easier and more profitable because the investment amount is only €250,000, whereas the minimum threshold for economic investments is €400,000.
Chinese, Russian, and Turkish citizens are the most interested in the residence for investment program. Thus, according to the Greek government, since 2014, 8,692 investors have received an investment residence permit, amounting to 26,123 people, if we include their family members.
How Do I Apply for the Greece Golden Visa program?
You must apply for a Greek Golden Visa at the Decentralised Authority’s Alien and Immigration Department.
You must first apply for an entry visa at one of Greece’s embassies or consulates abroad. The following is an outline of the Greek golden visa program application process:
- Apply for a Greek national visa at a consulate or embassy.
- Travel to Greece to complete your investment. It is entirely up to you whether you seek professional legal assistance during this stage.
- Gather the necessary documents for the Greek Golden Visa.
- Deliver the documents to your local Alien and Immigration Department.
- You must wait for the visa to be processed. A decision is typically made within three months.
- If the decision is favorable, you must return to Greece and provide your biometric information.
You will be issued a Golden Visa residence permit that is valid for five years.
