Since 2013, the Greece Golden Visa Program has provided residency for more than 27,000 investors and their families. They have benefited from the program through investing in the country.
Through this program, the country has received foreign direct investment of more than €6 billion.
The program offers non-EU/EEA citizens to get Greek residence in exchange for a qualified investment.
Find the main features of the program below.
A Minimum of €250,000 Investment is Sufficient To Apply
The minimum required investment amount is €250,000 to be eligible to apply. It’ll be sufficient for you and your family members to get a Golden Visa.
Furthermore, this amount is the lowest threshold in Europe to get residency. You need to buy real estate worth at least €250,000 to become eligible.
You Don’t Need To Stay in The Country
Greece Golden Visa doesn’t require you to stay in the country to maintain your residence, not even one day
Also, you can renew your residency every five years indefinitely.
You Can Include a Wide Range of Family Members
Your family members can benefit from the same rights you do. The eligible family members include your spouse and children under 21. Furthermore, you, as the main applicant, can include your parents and parents-in-law as well.
Visa-Free Travel Within The Schengen Countries
Your Greek residence card allows you to travel visa-free across Schengen countries. You don’t need an additional visa.
Note that Golden Visa Greece does not grant you the right to work in the EU. Still, you can set up business as a Greek resident.
Double Taxation Treaty is Another Benefit
Greece has signed double taxation treaties with around 60 countries. The Double Taxation Treaty spares you from paying taxes twice. So, if you earn income outside of Greece, you’ll not be subject to taxation on the foreign income. You can be a resident of Greece but maintain business outside of Greece. Still, you can be exempt from the tax on your income received outside of Greece.
Note that tax residency is another issue. If you stay in Greece most of the year, you become a tax resident in Greece. In that case, you need to pay taxes on the income you earn in Greece.
Safety and Quality Lifestyle are Other Attractions of Greece
Greece offers stability in a positive sense and a low cost of living. The climate also attracts its residents and tourists as well. Especially the islands and beaches enable Greece to boast very high tourism records in the world.
Good education and healthcare services are other benefits you can enjoy in Greece.
Investment Options To Be Eligible for Greece Golden Visa
You can choose one of the following options to qualify for the program:
- A minimum investment of €250,000 in a Greek real estate property
- A minimum capital transfer of €400,000 in Greek government bonds
- A minimum capital contribution of €400,000 in bonds or shares of real estate investment companies in Greece
- A minimum contribution of €400,000 in bonds or shares of a Venture Capital fund, a Private Equity fund, or a Mutual Fund headquartered in Greece
- A minimum contribution of €400,000 in specific forms of securities or a bank deposit in Greece
- A minimum contribution of €800,000 in shares, corporate bonds, or Greek Treasury bonds, listed in trading facilities operating in Greece.
Other Requirements To Fulfill
You need to meet all of the requirements below to apply for the program:
- Be a non-EU/EEA/Swiss citizen
- Be at least 18 years of age
- Have a clean criminal record
- Be of good character
- Have medical insurance for yourself and your family
- Maintain your investment for as long as you have a Golden Visa
While applying for the visa, you need to pay some administrative fees as well. For the first application and each renewal, you need to pay €2,000 as the principal applicant. Each family member under 21 pays €150. Each family member older than 21 pays €500.
It Does Not Offer Direct Access to Greek Citizenship
The program entails seven years of tax residency to apply for citizenship. However, Greek Golden Visa came into effect only seven years ago. So, there’s not enough data to inform you about its details. Still, the program allows you to become a long-term resident. This is one of the qualifications for citizenship.