The Residency by Investment Program for Greece

Greece has emerged as a prominent destination for people seeking to invest in a second citizenship. Introduced in 2014, the Greece Golden Visa Program allows non-European Union individuals and their families to obtain permanent residency in Greece through a qualifying investment.

The program is part of Greece's strategy to attract foreign investment and boost its economy, offering potential investors opportunities to diversify their assets and secure their family's future while enjoying the benefits of living in one of the world's most historical and culturally rich countries.

The Greece Golden Visa Program offers many benefits, making it an attractive option for investors. Firstly, it provides the right to live, work, and study in Greece, with free access to the Schengen area, which includes 26 European countries. This means visa-free travel within the Schengen zone, making business and leisure travel convenient.

Secondly, there is no requirement for continuous residency in Greece, providing flexibility for investors who cannot relocate immediately or for long periods. The investment threshold is also relatively low compared to other European countries. These features and the country's natural beauty, rich history, and warm climate make the Greece Golden Visa Program appealing to investors seeking a European residency.

The Greece Golden Visa Program is a highly advantageous scheme for investors seeking to expand their global footprint. It offers an impressive range of benefits, making it a top choice among the many residency by investment programs available worldwide. The program's unique blend of investment opportunities, lifestyle advantages, and migration benefits sets it apart.

Moreover, the Greece Golden Visa Program presents an excellent personal and business growth opportunity. It allows investors to establish a strong presence in the European market, take advantage of the region's robust economic framework, and enjoy Greece's high standard of living.

While it is possible to go on to become a Greek citizen, for the majority of investors, a Greek residence permit is sufficient to provide all the benefits that Greece provides.

There are many benefits to gaining citizenship in Greece. As part of the Greece Golden Visa Program, you’ll enjoy:

Easy Access to the USA and EU Schengen Area

Greece residency certificate will entitle you to travel throughout the EU Schengen Area for up to 3 months in a 6-month period. Greek citizens have full access to the EU Schengen Area which includes Austria, Belgium, France, Germany, Denmark, Greece, Estonia, Spain, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Hungary, Poland, Portugal, Slovakia, Slovenia, Sweden, Czech Republic, Finland, as well as additional Schengen member areas like Iceland, Norway, Switzerland, Liechtenstein, which you will also obtain, if you go on to become a citizen after the seven year qualification period.

Residency for the Whole Family

The Greece Golden Visa Program is not just an investment for an individual. The comprehensive scheme extends its reach to include the investor’s spouse, ensuring both partners can reap its benefits. Furthermore, the privileges of the program cascade down to the children, up to the age of 21, and also cover the parents and in-laws, truly making this a family affair.

Simple 3 step Application process

The Greece Golden Visa Program application process is designed to be straightforward, eliminating complexities and providing applicants with a seamless experience. The process is also fast-tracked, significantly reducing waiting times and accelerating the visa's attainment. This hassle-free approach ensures applicants can focus on their investment and future plans in Greece, rather than getting bogged down with paperwork.

3 Primary Routes for Residency by Investment

The Greece Golden Visa Program presents three core pathways for investment, each tailored to provide a variety of options and substantial flexibility, catering to the unique circumstances and preferences of its diverse pool of applicants. Please note, for your application for the residency certificate to be accepted, you will require full health insurance with a private health care provider.  This requirement will remain in place for as long as you retain resident status.

As part of our Greece Golden Visa Overview, let's delve into the various options for residency by investment. The Greece Golden Visa Program offers a range of investment routes, providing flexibility and choice for applicants. This program is designed for Non-EU/EEA citizens who are seeking to obtain Greek residency or citizenship through investment.

Real Estate Ownership

One of the primary routes to obtaining a Greek Golden Visa is through real estate investment. Applicants must own property in Greece with a minimum value of €250,000. This investment can be spread across multiple properties and locations, offering flexibility in terms of investment strategy and potential returns.

Long-term Lease Agreement

Another option is signing a lease agreement for hotel accommodations or furnished tourist residences in an integrated resort. The minimum cost of the lease should be €250,000, and the agreement must be signed for at least 10 years. This is an excellent option for those interested in the hospitality industry or tourism sector.

Land Purchase and Construction

Applicants can also opt to purchase a plot of land or acreage and erect a building on it. The total value of the land and the construction must amount to at least €250,000. This route allows investors to design and build a property that suits their specific needs and preferences.

Inheritance or Parental Concession

There is a less common but still just as valid opportunity to gain Greek residency through inheritance. Adults who fully and legally own real estate property in Greece, acquired through intestate succession, will, or parental concession, are also eligible for the program. The property's minimum value (Cadaster Price) should be €250,000.

It’s a simple three step process to become an investor in the country and obtain a Greek residency permit. You’ll then go on to be eligible for citizenship after 7 years, providing you with all the benefits of borderless travel and trade in the Schengen area. Here are the steps:

Choosing and Purchasing Real Estate

The first step in the Greek Residency by Investment application process is to select and purchase real estate within the country. This is a crucial phase, as it's the foundation of your investment strategy. The minimum investment threshold starts at €250,000. This can be an attractive option for many, given Greece's rich history, breathtaking landscapes, and promising real estate market.

When choosing your property, consider location, potential return on investment, and personal preferences. You may opt for a holiday home on one of Greece's idyllic islands, a city apartment in bustling Athens, or a tranquil countryside retreat. It's essential to engage the services of a reputable real estate agent and solicitor to ensure a smooth transaction.

Applying and Receiving Your “Certificate of Submission”

Once you've purchased your property, the next step is to apply for your Golden Visa. This involves submitting an application to the Greek authorities and all the necessary documentation, including proof of investment. A key document you will receive at this stage is the "Certificate of Submission".

This certificate serves as a temporary residence permit, allowing you to reside legally in Greece while your Golden Visa application is being processed. It's important to note that the application must be done correctly to avoid any delays or complications. Employing the services of an experienced immigration lawyer can be invaluable during this stage to guide you through the complex legal processes.

Obtaining Your Residency Permit

Upon successful review of your application, you will receive your Greek residency permit. This usually happens within sixty days, making the Greece Golden Visa Program one of the fastest routes to European residency. The permit provides you with numerous benefits, including the right to live in Greece, freedom to travel throughout the Schengen Zone for up to 3 months within a six-month period, and access to Greece's healthcare and education systems.

The permit is initially valid for five years and can be renewed indefinitely, provided the property investment is maintained. It's important to remember that while the permit grants you residency, it doesn't automatically confer citizenship. However, after seven years of legal residency, you become eligible to apply for Greek citizenship.

Onward To Greek Citizenship

After seven years of holding your residency permit, you become eligible to apply for Greek citizenship. This is a separate process and involves meeting additional requirements, such as demonstrating proficiency in the Greek language and passing a test on Greek culture and history. Upon successful completion of this process, you will be granted a Greek passport.

Obtaining a Greek passport opens up new opportunities, including the right to live and work anywhere within the European Union. It also allows for visa-free travel to over 180 countries worldwide. The Greece Golden Visa Program is an excellent pathway to European citizenship, offering a straightforward application process and substantial benefits for investors.