Greece Golden Visa Overview
Launched in July 2013 the Greek Golden Visa programme grants a five-year residency visa in return for an investment in real estate. 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 renewed every five years if the property investment is retained. It is not necessary to live in the country in order to retain and renew the investor visa. However, citizenship can only be granted after seven years of residency.
Greece Golden Visa Benefits
Greece offer one of the most cost-effective Golden Visa programmes in Europe. The main benefit of Greece’s Golden Visa programme is that applicants will be granted Greek Permanent Residency within just a few months, following a real estate investment of €250,000. A Greek residency permit will enable the holder to live, work and study in Greece, should they wish to, although this is not a requirement of the Golden Visa programme. As Greece is part of the Schengen Zone, Greek residents can to travel visa-free to the rest of the EU Schengen Zone, with the ability to spend up to 90 days every 180 days in other Schengen states.
- Fast processing of residency permit
- Low government fees
- Low renewal fees
- Own Greek real estate – diversify your assets
- Visa-free travel throughout the EU Schengen zone
Permanent Residency and Citizenship in Greece
Greece’s Golden Visa programme grants Permanent Residency from the start. Permanent Residency permits need to be renewed every five years through retaining the property investment.
Although it is technically possible to apply for citizenship in Greece after seven years of full-time residency, Greek law also requires citizenship applicants to speak fluent Greek, which makes this process difficult for most. Investors looking for potential European citizenship are advised to consider alternative options such as the Portugal Golden Visa programme, which provides a more flexible route to citizenship.
HOW MUCH Does a Greece Golden Visa COST?
Following an investment of €250,000 into Greek real estate the process for obtaining a Greek Golden Visa is relatively straightforward and quick.
From May 2023, the real estate requirement is set to increase from €250,000 to €500,000 in certain Municipalities of Greece, such as Athens, Thessaloniki, Glyfada, Mykonos and Santorini. La Vida is monitoring the situation closely and will provide further updates when available.
Government, notary and legal fees for the property purchase and visa application will amount to around €15,000. In addition, there is VAT to pay in Greece on the property purchase.
GreeCe Golden Visa Requirements
In addition to making the necessary real estate investment there are several requirements that applicants must meet:
- A clean criminal record
- Sufficient funds and healthcare to cover their stay
- No previous Schengen visa refusals
- Applicants will need to be non–EU residents
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Greece Golden Visa through Property Investment
Real estate investors in Greece must also budget for the additional taxes on real estate at 3%- 24%. At €250,000 + taxes and fees (just over €300,000 in total) this programme offers one of the lowest cost residency programmes in Europe. La Vida offers real estate options in several locations in Greece. Athens has proven to be one of the most popular locations for foreign investors due to its international flight connections, and strong ROI’s.
For further details on the procedures and to see our property portfolio enquire here.
We have listed below some of the frequently asked questions we receive regarding the Greece Golden Visa programme. However, it is impossible to cover everything in depth here. Please contact our advisors for further details.
How Can La Vida Help You?
La Vida has extensive experience of all the Golden Visa programmes in Europe. In addition to Greece we can advise on Portugal, Malta, Spain and Turkey. We also offer citizenship by investment options in the Caribbean. La Vida has extensive global reach with our expert team having helped clients in over 150 countries worldwide.
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