Greece citizenship by investment is a residency program offered to non-EU citizens. It provided residency permits for more than 28,000 applicants and their families until 2022. To be able to get this permit, you need to invest in one of the required investment options. The lowest option is to buy real estate that values at least €250,000 in Greece.
Greece Golden Visa offers other benefits, too. Bringing your family members and the right to travel in the Schengen area are among them. Let’s find out more about the program below.
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What are The Benefits of Golden Visa Greece?
First of all, you’re no longer required to go to Greece physically to begin your application. As of 2021, you can start your application process remotely. Once you get your Golden Visa, you can travel within the Schengen countries without needing another visa. This means that you’re free to travel to 26 countries whenever you want.
Certain family members can benefit from the program like you. These members include your spouse and children under the age of 21. Also, your parents and parents-in-law can be included as well.
Greece residence permit allows you to live in Greece no matter how long you want. Also, it doesn’t require you to stay here for a certain period like other programs. You’re free to live in Greece or anywhere else you wish. You and your family can enjoy public healthcare and education benefits, too.
There are some possible tax benefits awaiting you with double taxation treaties. This depends on the period you stay in Greece. It also depends on whether your country of residence has signed this treaty with Greece. In that case, your foreign income may not be taxed in Greece. There are also tax benefits for foreign tax residents. Several programs are available for this. Consulting your financial advisor in assessing these programs may prove helpful. So, investment in Greece for citizenship means more than getting a residency right.
Are You Eligible for Greece Golden Visa?
There are some requirements to fulfill to be eligible for Greece citizenship by investment. Let’s find out if you qualify:
- Being a national of a non-EU/EEA country
- Being at least 18 years of age
- Being of good character
- Having a clean criminal record and
- Holding medical insurance for both you and your family.
It’s a straightforward process to apply for Golden Visa Greece.
Here are the steps:
- Choose the investment type, and select the property if you choose the real estate option.
- Then comes the legal work. Get your Greek Non-Resident Tax number, and open a bank account in Greece. This step can also be done through a power of attorney on your behalf.
- Then, a lawyer executes the legal due diligence of the property, on your behalf. You’ll get the sale and purchase agreement, and the execution of a public deed. Then, prepare all other related documents, and start your application.
- At this step, you need to go to Greece for the submission of your biometric data. If you include your family, they need to go with you, too.
- After the approval of your application, authorities will issue a residence card. Renewal is available every five years.
What About Citizenship?
Theoretically, you can become eligible to apply for Grek citizenship after having lived here for seven years. Paying taxes and passing a Greek language test are other eligibility criteria. There may be other requirements as well. So, although it’s called Greece citizenship by investment by some, it doesn’t directly offer citizenship.
Greek citizenship by investment offers alternative routes when it comes to choosing your investment option. Find them below.
- Real estate: You can buy a property that is worth at least €250,000. Or, you can make 10 years of a lease agreement. The lease can be either for a tourist residence or hotel accommodation.
- Making an investment of €400,000 in some bonds in Greece. These can be government bonds or shares/bonds of real estate investment companies. They can also be shares/bonds of venture fund and private equity if they’ve headquarters in Greece.
In short, you can make an important step in your life by getting your Golden Visa in Greece. If the aforementioned criteria are suitable for you, start your application process today!