Non-EU investors who are interested in obtaining a golden visa in Greece should observe the main regulations in this matter for which complete legal support is provided by our local lawyers in Greece. With the help of our advisors, foreigners can easily apply for a golden visa in Greece with all the documents provided to the authorities in charge. Also, you can receive information about how to obtain citizenship by investment in Greece.
If you are interested in buying a golden visa in Greece, our specialists can explain all the details and can help you with the application procedure. If you need advice on other citizenship by investment countries, our agents are at your service.
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The Greek program for foreign investors seeking to relocate
Greek Prime Minister announced on September 10th, 2022, that in some places, the minimum investment amount for purchasing real estate under the Greece Golden Visa program will be increased to €500,000. The dignitary underlined in his remarks that this move will make Greek real estate more affordable. Among the popular residence by investment programs in Europe, the Greece Golden Visa property acquisition investment amount is now €250,000, making it one of the lowest sums. By investing in Greek real estate as of May 1, 2023, a new €500,000 threshold will be imposed for acquiring the Greece Golden Visa. The €250,000 requirement will remain the same for the remaining areas, while the aforementioned threshold update will be introduced in the Athens Area, Thessaloniki, Mykonos, and Santorini.
The Greece Golden Visa program is considered one of the most affordable residency by investment schemes in Europe, because of the relatively low investment requirements. As mentioned above, the program addresses investors from non-EU countries who want to relocate to a European Union country.
If you want to buy a golden visa and need support, we have agents in most European countries that have such programs.
We can assist with information on the golden visa/citizenship by investment in Cyprus.
What is a golden visa in Greece?
The golden visa program for Greece was introduced in 2013 and it is a permanent residency visa offered for non-EU investors who decide for real estate purchases in this country. The permanent residence visa is granted for five years and then renewed before the expiration date. Here are a few of the requirements linked to a golden visa for Greece:
- the residency visa is issued in approximately 40 days from the date of application;
- a real estate investment of EUR 500,000, is necessary for this type of visa;
- the properties can be purchased in mainland Greece or in the islands;
- an investment of EUR 400,000 in government bonds is also accepted;
- a clear criminal record is mandatory when applying for a golden visa for Greece;
- medical insurance available for the entire stay in Greece is necessary.
We invite you to talk to our local attorneys and find out complete information about the legal conditions for obtaining a golden visa in Greece in 2023.
Among the countries that offer golden passports in Europe, there is also Italy.
Who can apply for a golden visa in Greece in 2023?
Non-EU citizens who would like to make investments in Greece, particularly in the real estate field, whether interested in residential or commercial buildings, can apply for a golden visa in Greece in 2023.
Requirements for applying for a Golden Visa in Greece
The persons applying for a Golden Visa for Greece must comply with the following criteria:
- the applicant must be 18 years old at the time the application for the visa is filed;
- they can bring family members to Greece, as long these dependents have valid health insurance policies;
- a valid travel free visa is required at the beginning of the application procedure for all applicants;
- all the documents to be filed with the immigration authorities in Greece must be translated into Greek and certified by a notary;
- the source of money to be invested in the Greek property must come from legitimate sources.
We can also help you buy golden visas in other European countries, such as Cyprus and Malta which have similar conditions to the golden visa/citizenship by investment in Greece.
We can also offer advice on the golden visa program in Bermuda.
Investment options under the Golden Visa Program in Greece in 2023
Those who want to move to Greece based on a residence by investment scheme have several choices. It is true that the most common choice is that of buying real estate, however, other options are available for those who want to make other investments. For example, it is possible for an investor who wants to move to Greece to use this program for doing business. Among the investment options available are the purchase of government-approved bonds and the purchase of shares in Greek companies.
If you decide to buy a Golden Visa for Greece and need advice on the investment options, our local consultants can help you.
We can assist if you want to apply for golden passports in other European destinations.
Some golden visa countries do not require the applicant to live in them, however, even if you don’t plan to relocate, you still need to prepare enough money to support yourself and any family members for the timeframe you need to visit the country. Generally speaking, you still must visit the respective state for a few days or weeks per year.
Documents required to obtain a Golden Visa in Greece
The applicants and their dependents must prepare a not very extensive set of documents when applying for a Greek Golden Visa. Among these are:
- a copy of the valid passport (the passport must be valid for at least 6 months when the application is lodged in);
- 3 recent passport-size photographs;
- a copy of the sale-purchase contract of the property bought in Greece (the contract must clearly indicate the value of the property);
- the property title issued by the Greek Land Register;
- proof of payment of the residence permit application.
It is important to note that for each dependent, the same passport, photographs and residence permit application fees apply.
Greece is of the most sought golden visa countries in the European Union at the moment.
Our golden visa specialists can help you prepare the documents related to obtaining residence by investment in Greece in 2023.
Less known facts about the Golden Visa Scheme in Greece
Foreign citizen interested in applying for a Greek Golden Visa can acquire more properties which cover the minimum amount of money necessary as an investment requirement. In case an applicant buys more than one property, the sale-purchase agreement and the title of property for each real estate must be submitted with the application.
When it comes to the family members who can relocate to Greece with the applicant, these can be the spouse and the children under the age of 21, but also the parents and in-laws of the applicant are accepted.
Once permanent residency has been obtained, the holders of Greek golden visas can apply for citizenship after 7 years of living here. Children of the applicants must have been enrolled in a Greek school for at least 9 years, or 6 years if they are in secondary school, but also if they attend a university in Greece.
In May 2019, the Greek government announced the extension to 8 investment options to those seeking to apply for a Golden Visa. Among these, applicants have the option of depositing at least 400,000 euros in a credit institution in Greece.
When discussing citizenship by investment countries, you can obtain updated information from our specialists.
The benefits of a golden visa in Greece
The permanent residency visa in Greece allows foreigners to bring the family members in this country. Moreover, investors can also start a business in Greece and take advantage of the tax benefits offered by this state, among which, the ones related to the double tax treaties for the avoidance of the double taxation on incomes. The freedom of travel is granted for investors who obtained the Greek citizenship, and they have the possibility of entering countries from Africa, Asia, and from the Schengen zone without any restrictions.
Why move to Greece through the golden visa in 2023?
The Greek golden visa targets foreign citizens seeking to move to other countries by making significant contributions to their economies and in 2023, the requirements for this program have remained unchanged compared to previous years. So, if 2023 seems like a good year for investments, you can choose to move to Greece and obtain residence by investment with the help of our specialists who will draft the documents you need to file.
If you have any questions about the Golden Visa in Greece for 2023, we invite you to address them to our agents.
Golden Visa statistics in Greece
Greece is a very appealing European country to move to based on a golden visa, and according to statistics:
- in 2018, the Greek authorities issued 3,892 golden visas to non-EU citizens;
- between January and June of 2019, the authorities have issued 645 golden visas to non-EU investors;
- by the end of 2019, it is expected for around 1,550 visas to be issued to investors;
- since the start of the program, the Greek authorities have issued 4,537 golden visas.
We invite you to contact our team of lawyers in Greece and find out complete information about how to buy a golden visa in Greece. We can also advice on other citizenship by investment countries.