The allure of a beachfront vacation property often comes to mind when contemplating investments in Europe for a Golden Visa. The concept of a charming Mediterranean “home away from home” sounds enticing, but the reality of arriving in a country you may have never visited, or only spent limited time in, can be overwhelming for the average foreign investor. Numerous considerations arise, including the choice of location, property size, selection of an agent, deciding between resale or off-plan, and navigating local laws and taxes. Before getting captivated by this dream, ask yourself this: Realistically, how much time each year are you going to be spending in this country? If you are subject to the usual 2-4 weeks annual leave per year, then the answer is probably very little time. If you’re a busy entrepreneur, your spare time may be even more scarce. Even with a more flexible schedule, do you want to feel obligated to revisit the same place and property annually when there’s a whole world waiting to be explored? Probably not. Moreover, obtaining a golden visa residency permit grants you the freedom to travel within the entire EU Schengen zone. This opens up the possibility of spending your annual travel window exploring various countries in the region, rather than feeling tied to just one.
Another crucial factor to consider is the pricing. Take Greece, for instance, where the minimum investment threshold for a Greek Golden Visa stands at €250,000. However, within this price range, luxury vacation homes are often elusive. Typically, one can expect a basic one or two-bedroom apartment, likely in need of modernization and situated in a less appealing part of town. For beachfront, modern residences with a pool, a realistic budget would need to exceed €600,000-700,000 on mainland Greece or surpass a million on sought-after islands like Santorini or Mykonos. Lastly, the question of property management arises: who will oversee your property when you’re not there? Imagine you are in your home country about to walk into a important business meeting when you receive a call from your Greek neighbour saying your washing machine is leaking, or similar. Do you really want the stress of trying to rectify such issues from millions of miles away? Probably not!
Increasingly, Golden Visa investors are gravitating towards low-maintenance, hassle-free passive investment opportunities ,and these come in all shapes and sizes. Options range from commercial units and hotel shares to student accommodation, providing a variety of avenues to qualify for a Golden Visa. Developers specializing in passive investments often tailor packages to simplify the process for Golden Visa investors. La Vida collaborates closely with several partners offering fully managed options, frequently accompanied by either a guaranteed buy-back or a guaranteed rental yield. In some instances, developers sweeten the deal with incentives or discounts on Golden Visa fees.
If the allure of a vacation home still captivates you but you’re unsure where to begin, our recommendation is to start with a managed passive investment option as mentioned earlier. This strategy allows you to secure your Golden Visa permit. Once residency is established, you can take your time exploring different aspects and locations within the country before making a more permanent property investment commitment. For further insights into the best investment options available, consult with La Vida’s experts.
From €500,000 + costs
Private Equity investment
EU Schengen Zone Travel
Apply Citizenship 5 years