Founder of Global Residence Index
Last updated: February 21, 2024
Owning the privilege to live and work freely in the European Union has its undeniable charms. The Golden Visa in Greece offers just that and more, with the potential for long-term EU residence and citizenship.
At Global Residence Index, we’ve perfected simplifying the application process, guiding clients to their dream European Union residence in record time.
In this article, I’ll share the ins and outs of obtaining the Golden Visa in Greece and how you can avoid the common pitfalls many encounter along the way.
As enticing as it sounds, the Greek Golden Visa does not happen without some need for knowledge of the investment migration industry and the investment options in Greece. Applying for a Golden Visa can be an intricate maze of paperwork and bureaucratic hurdles. That was my realization when I first ventured into this industry, assisting clients to navigate this daunting task.
Years of experience and countless success stories later, my team and I have honed a method to streamline the Golden Visa application for Greece.
We’ll explore how obtaining Greek residence can improve your global mobility by diversifying your asset portfolio into a new country and continent.
While several investment options are available, the most popular for the Greece Golden Visa program is the €250,000 real estate investment. Greece’s property market has seen substantial growth over the past decade and 90% of Golden Visa holders have opted to invest in real estate.
Investors have made significant annual yields from short and long-term rentals and the capital appreciation of their real estate investment. The investments for real estate are:
Global Residence Index has selected partners in Greece to process real estate investments Golden Visa clients. Our team researches and uses real estate data from the Bank of Greece and the Global Property Guide to ensure our advice correlates to the data available. We won’t sell you promises of doubling your real estate investment in five years, but our research provides insight into stable regions to provide consistent long-term growth.
We are agnostic as to the investment routes available to our clients. Our advisory service reviews each client’s needs individually. Real estate is a popular investment for the Golden Visa, but we can advise clients on other capital transfer investment options. The Greek program has several capital transfer options with pros and cons.
The capital transfer investment option has multiple options depending on the investor’s risk appetite.
The capital transfer does allow for speculative investments in individual companies, which can significantly increase a return on investment. Conversely, this is a riskier investment to take on time. Alternatively, investors can make very safe investments in government bonds, which are almost guaranteed to hold their value with some small upside.
If you want to learn more about all the investment options and how the Greek Golden Visa can benefit you and your family, visit our webpage and book a consultation with our expert team.
Having completed multiple Greek Golden Visa applications, our team has developed a step-by-step processing guide to ensure your case management experience is as smooth as possible. I have ironed out each step and know how to identify potential mishaps that can lead to delays or rejection.
Greece has no further physical presence requirements, from submitting biometrics to renewing the residence five years later. That said, holders can travel freely through Europe’s Schengen zone on their Greek ID card for up to 90 out of 180 days.
There is one caveat to the renewal process under the Golden Visa program. If the applicants have been physically present in Greece for four of the previous five years and more than 183 days per year, they can apply for Permanent Residence without restrictions. The investment may be sold in this scenario.
The route to citizenship is slightly longer than permanent residence. After seven years of continuous residence, a resident can apply for naturalization. Applying for citizenship does not guarantee it being approved; meeting other criteria is necessary to receive Greek citizenship.
If your application is successful, you will be issued a naturalization certificate and can apply for a Greek passport. Greece is a European Union member state and provides freedom of movement. Citizens can freely live, work and study in any other EU country.
The Greek Government passed a new law in October 2022 that changed the investment requirements for the Golden Visa starting July 2023. The minimum amount required for real estate purchases will increase from €250,000 to €500,000 in certain municipalities of the country.
The Golden Visa by real estate purchase has been the most popular route. Even with the higher investment requirement in certain municipalities, demand for the Golden Visa is unchanged in Greece.
The Greek Government made the changes to shift focus towards drawing investments that support the national economy in regions outside of those mentioned above and other investment options at €400,000 start to be attractive. New investment categories include research and development, renewable energy, and strategic acquisitions.
During our initial consultation process, we work with you to fully understand your goals and need to give the best possible advice and information relevant to your case. We ensure that you will appreciate all of the benefits of the Golden Visa in Greece.
To list a few valuable pieces of information, see below:
The Greece Golden Visa real estate investment is currently €250,000 and one of the lowest among Europe’s popular residency by investment programs. The real estate market in Greece is strong, and there is consistent demand from overseas investors to own their piece of brick and mortar of this idyllic Mediterranean nation.
The Government has a particular immigration unit dealing with applications, speeding up processing by months. Applicants can obtain their residence permits within a few months. This starkly contrasts other Golden Visa programs that can take up to twelve to eighteen months to approve.
Our unique relationships with developers and real estate lawyers in Greece allow us to get the best locations and real estate on offer. Apart from a Golden Visa, you will invest in an asset that can yield long-term returns.
I hope this guide might have been helpful to you. Feel free to book a consultation with our advisory team if you’d like to know more about Greece and other similar golden visa and citizenship programs.
Founder of Global Residence IndexCONTACT
Navigating through golden visa & citizenship by investment programs can be complex and overwhelming, regardless of the country or program you’re interested in. If you’re struggling to find clear, accurate information, you’re not alone. Our team is here to offer you clarity and reliable advice across a wide range of immigration programs.
By scheduling a consultation, you’ll receive personalized guidance tailored to your unique situation. We’re dedicated to helping you understand the details of various immigration programs, making them more straightforward so you can proceed with confidence.
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