Greece Residency by Investment

Greece Golden Visa

Residence permit in Greece

The Greece Golden Visa Program offers an affordable real estate investment route to permanent Residency in Europe.

The country can be considered as the ideal place for non- EU/EEA investors, who wish to obtain an entry visa due to its plenty of investment opportunities and its flexible and fast procedure.

No restrictions regarding sector or the location of the investment. The project must create a positive effect on the national development and the economy of the country.

(Adoption of new technology, innovation, creation of employment opportunities, export orientation, promotion of the domestic resources as well as the vertical integration of domestic production).

The total number of residence permits allowed for an investment project cannot exceed 10 (for investors and executives).

No upper limit regarding the total cost of the investment project. Minimum contribution amount of €250,000 for Real Estate in specific areas, available through own funds, for an investor applying for a residence permit.

The designated areas, where an investment of €500,000 is required are the Municipality of Thessaloniki, the Regional Units of Mykonos and Santorini, the Municipality of Vari - Voula – Vouliagmeni as well as the following Regional Units of North, Central and South Athens:

1. Penteli
2. Kifisia
3. Metamorfosis
4. Chalandri
5. Agia Paraskevi
6. Vrilisia
7. Nea Ionia
8. Irakleio
9. Cholargos - Papagou
10. Psychiko
11. Pefki
12. Marousi
13. Agios Dimitrios
14. Alimos
15. Glyfada
16. Elliniko - Argyroupoli
17. Kallithea
18. Moschato - Tavros
19. Nea Smyrni
20. Palaio Faliro
21. Athens Center
22. Philadelphia
23. Galatsi
24. Zografou
25. Kaisariani
26. Vyronas
27. Ilioupoli
28. Dafni

Very importantly, under the new regime of €500.000, in the aforementioned areas, the investment shall totally be for One Property.

Furthermore, in regards to the adaptive period, a Buyer and potential candidate of the Golden Visa can still invest in any area of Athens (including Thessaloniki, Mykonos, and Santorini) and invests 250.000€, if s/he makes an advance payment of 10% of the agreed property price before the date of 30/04/2023, and simultaneously s/he signs a private reservation agreement with the lawyer certifying this private agreement.

Additionally, we would like to recall that an investor is allowed to proceed with the signing of POA in their country of origin, without visiting Greece, at a) the Greek Consulate, and b) at any foreign public notary, provided that the power of attorney (POA) is certified with the Apostille Stamp or legalized by the Greek Consulate.

Greece Golden Visa Program

The benefits of the Investment Program are:

Lowest required investment amount in Europe.

No need to reside in the country.

No minimum stay is required

EU residency

Fast procedure (less than 3 months)

Valid for 5 years-renewable

Family members can join the program

Ascendants can benefit from the program

Right to travel within the 26 EU Schengen countries with a max stay of 3 months per semester

Right to travel alsoto travel to Albania, Antigua and Barbuda, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Georgia, Kosovo, Mexico, Montenegro, North Macedonia, Romania, Sao Tome and Principe, Serbia

An excellent place to relocate to:

High Quality of Life
Regulated Environment
Secure Living Conditions
Efficient services – Easily accessible
Recreational Opportunities
Mediterranean Culture

REQUIERED DOCUMENTATION

The personal requirements for the program are:

4 colour photos

Copy of a valid passport or other travel document recognized in Greece

Travel Insurance with expiry date after the expiry date of the visa period

Certificate of clear criminal record

Health certificate

The investor must be 18 years of age or over

Family members have the option of entering the country at the same time with the applicant from whom they derive their residence rights (sponsor) or at a later date and should also be issued the appropriate entry visa.

PROPERTY REQUIEREMENTS

The purchase title of each property must show a minimum value of 250.000 euros. In addition, the number of permits for executives allowed for each investment project depends on the amount of the total investor contribution. Moreover, the number of permits for executives allowed for each investment project depends on the amount of the total investor contribution. The total number of residence permits allowed for an investment project cannot exceed 10 (for investors and executives).

Transaction Fees

Notary fees 1%
Lawyer’s fees for contract
For transactions ≤€500,000 the fee is 1% plus 24% VAT with a minimum of €2,500
For transactions ≥€500,000, the fee is 0.8% plus 24% VAT with a minimum of €5,000 whichever is higher

Administration Fees (When accompanied with a property)

Lawyers’ Administrative Fees €1,500 euros plus 24% VAT
Out of the pocket expenses e.g. entry fees, stamp duty paid to the State
€2,000 Fees for the issue of a 5 year residence permit for real estate owners
€180 for the issue of a national entry visa in case the person is interested to visit Greece in order to select the properties & make arrangements in person
€150 per person for the application of the dependent members - not for the primary applicant - of the family, e.g. wife, kids & parents (minor children under 18 years old are exempted from this fee)
€16 per applicant for the printing of the electronic residence permit

Procedure fees for the whole process

Fees upon request

Greece has set up a flexible and fast process for non- EU/ EEA foreign investors who wish to obtain an entry visa and a residence permit for the purpose of investment activity in Greece. In cases where the applicant does not speak Greek and/or is located outside Greece, it may be preferable to ask for assistance from a representative in Greece to facilitate the process.

OTHER OPTIONS TO ACCESS RESIDENCE PERMIT

The conditions of the Investment Program are:

Implementation of strategic Investment projects that shall affect positively the national developmentas well as the economy of the country such as adoption of new technology, innovation, creation of employment opportunities, exportorientation, promotion of the domestic resources as well as the vertical integration of domestic production. There are no restrictions regarding the sector or the location of the investment.

Capital contribution of at least €400,000 to Alternative Investment Funds, Venture Capital Funds provided that the funds intend to invest exclusively in companies established in Greece.

Purchase of Greek government bonds with an acquisition value of at least €400,000 and a residual maturity of at least 3 years, through a credit institution established in Greece, which is also its custodian.

A term deposit of at least €400,000in a domestic credit institution of at least one year duration with a standing renewal order.

Purchase of shares, corporate bonds, Greek government bonds that are listed for trading in Greece of at least €800,000.

Purchase of at least €400,000 worth of equity shares, established in Greece or another country, with the objective of investing exclusively in equity, corporate bonds, trading in regulated markets or multilateral trading mechanisms that operate in Greece, provided that the fund's assets amount to at least €3,000,000 and the fund and its administrator are licensed by an EU competent authority. For non-EU countries the competent authorities have to be a member of the International Association of Capital Market Commissioners and to have a bilateral information exchange agreement with the Hellenic Capital Market Commission.

Purchase of at least €400,000 worth in Alternative Investment Funds established in Greece or in another EU Member State and aims to invest exclusively in real estate in Greece, provided that the AIF's assets are at least €3,000,000 and the AIF and its administrator are licensed by the authority overseeing the capital market of the country in which it is established.

FREQUENTLY ASKED QUESTIONS

FAQ 1: Why should apply for the Greek Golden Visa?

For the time being, Greece is working on an economic recovering scheme from which various investment opportunities arise. The country offers the most affordable investment programme in Europe, with the minimum required investment amount of 250,000 Euros. The low cost of leaving, its strategic geographical location and its low real estate prices are just some of the advantages that accomplished the country as one of the most competitive and attractive destination for worldwide investors.

FAQ 2: What are the personal requirements for the Greek Golden Visa?

a) Four (4) colour photos Copy of a valid passport or other travel document recognized in Greece.
b) Travel Insurance with expired day after the entire visa period.
c) Certificate of clear Criminal Record
d) Health Certificate
e)The investor must be older than18 years old.

FAQ 3: What are the property requirements for the requirements for the Greek Golden Visa?

The purchase title of the property/ies worth of at least €250,000 in real estate in Greece, unless the property is located at designated areas, where the threshold has been increased by the new Law 5007/2022 to the amount of €500,000. In addition, the number of permits for executives allowed for each investment project depends on the amount of the total investor contribution. Moreover, the number of permits for executives allowed for each investment project depends on the amount of the total investor contribution. The total number of residence permits allowed for an investment project cannot exceed 10 (for investors and executives).

FAQ 4: What is the Greek Golden Visa procedure like?

Greece has set up a flexible and fast procedure for non- EU/ EEA foreign investors who wish to obtain an entry visa and a residence permit for the purpose of investment activity in Greece. In cases where the applicant does not speak Greek and/or is locatedoutside Greece, it may be preferred to ask for assistance from a representative in Greece to facilitate the process.

FAQ 5: How long would the Greek Golden Visa take to be accepted?

Approximately between two to four months from the investment. It depends on the authority of the application and on the heavy demand of request.

FAQ 6: How long does the Greek Golden Visa last for?

By decision of the Secretary General for Decentralized Administration, a five-year-long stay permit shall be granted to a third country national holding a valid visa with automatic renewal.

FAQ 7: Where a holder of Greek Golden Visa can travel?

Schengen area countries:

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

Countries where Schengen Visas are valid:

Albania	Croatia	Montenegro*30 days
Antigua and Barbuda	Cyprus	Romania
Belarus	Georgia	Sai Tome and Principe*15 days
Bosnia and Herzegovina	Gibraltar*21 days	Serbia
Bulgaria	Kosovo*15 days	Turkey
Colombia	North Macedonia*15 days	Mexico

FAQ 8: Can I bring my family members with me on the Greek Golden Visa?

Family members have the option of entering the country at the same time with the applicant from whom they derive their residence rights (sponsor) or at a later date, and should also be issued the appropriate entry visa.

FAQ 9: Can I apply to become a Greek citizen?

Residence Permit allows its holder to access long-term residence status, which is a qualification required for naturalization. In order for a person to obtain a residence permit of a long-term resident, the conditions of Articles 89 and 90 of Law 4251/2014 must be cumulatively met.

FAQ 10: Is there a minimum stay required?

There is no minimum stay requirement and the residency visa can be renewed after five years providing the investment is maintained.

FAQ 11: Who is considered a family member?

According to the law, family members of non-EU/EEA citizens entering the country are:

The spouse
Their unmarried children up to the age of 21
The unmarried children of the dependant or his / her spouse up to the age of 21, provided that the right of custody has been legally granted to the sponsor for his/her children and to the other spouse for the children thereof
The first-degree ascendants of the spouses.These family members are granted residence permits for family reunification.

FAQ 12: From whom I can receive funds for this investment?

Funds can be transferred directly from applicant or/and from the following related persons:

Wife/husband, wife/husband in law, son/daughter, son/daughter in law.
Father/mother, Father/mother in law.
Grand Parents, Grandchildren.
Brothers/sisters, and brothers/sisters in laws.

FAQ 13: From whom I can receive funds for this investment? Can someone acquire a property and register it in my name?

Yes, it is possible for investment, the payment methods can also be made by a spouse and / or by blood (1st degree) or relatives to a buyer in (2nd degree).

Also, investment can be done by a family member and registered on the name of one of the first-degree family and/or second-degree

First degree