You may have already heard about the Greek Golden Visa Program and the benefits you can have by investing in real estate in Greece. Did you know though, that the Law changed just on 23 December 2020 and from now on you can apply for the program completely remotely? Yes, it is true. In fact, not only you but neither your dependents -who also can take advantage of the benefits of this very promising program- need to enter Greece prior or during to the application process.
Well, what you are waiting for? You only need to read the following guide and find the perfect location and building which will grand you with this absolutely Golden Visa, a real golden door to Greece and the whole Europe.
Our office, as an expertise in the Greek real estate market will help you become a new Greek resident by obtaining this Golden Visa and will be at your side during the whole process. Follow us by finding out just what the Greece Golden Visa program is, how one can apply, what are the requirements for the investment and other details before you make your decision.
What is exactly the Golden Visa Program
The Greek Golden Visa Program launched for the first time in 2013 by granting a five-year residence permit in exchange for a real estate investment in the country, of at least, 250.000 Euro – a very low price considering the beauty of Greece and the promising real estate market.
In this residency program one can include also first grade relatives as of course children and mother/father in law as well. The investor and his dependents would then have the extraordinary chance to live in Greece, a majestic country known all over the world about the beauty and the great way of living. Moreover, the Golden Visa is a kind of ticket that gives you the freedom to travel without a VISA across Europe and in particular the Schengen zone – an area comprising 26 countries that have officially abolished all passport and all other types of border control.
The benefits of the Golden visa program
First of all, Greece is famous for her unique beauty and culture heritage and the fact that is a country with some of the highest tourism records in the world is indeed for a good reason. Fantastic beaches, incredible mountains and forests and those countless islands, each one with its own beauty, Greece is an irresistible place to buy a property.
To this unique environment, add that Greece, as a member state of the EU, offers its residents and citizens a number of reassuring benefits including high levels of safety and security. In addition, Greece is well known as a country with a quite good healthcare system and excellent education opportunities.
Now, of course, with the chance to invest in real estate in Greece remotely, you can enjoy the benefits of the residence’s permit whenever you decide to live in the country. The residence permit, is indeed, permanent. You only have to renew it every five years – as long as you are the owner of your acquisition.
But the benefits don’t’ limit to you. Also your family can enjoy all the benefits of you decision to invest in Greece, since the program allows you to include your spouse and children under 21 years old. If though your children are over the age of 21, but no older than 24, and they are students, they may also be included in the Golden Visa application.With the Extended Family benefits the principal applicant’s parents and parents in law can also be covered without any further requirements. That means that the application process is the less you can do to give this incredible present to you whole family.
Even if you, or your dependents prefer to continue living in your own country, you can always freely rent out your property in Greece.
If you ultimately choose to live in Greece, then after seven years of continuous residence, you can also apply for Greek citizenship. Keep in mind that unlike the permit residence, you can’t obtain greek citizenship if you don’t live in the country.
Last but not least, there is also another one great benefit: The Greek Double Taxation Treaty which states that income from outside Greece while residing there is not subject to taxation. Believe it or not, this means that you can maintain any business you have outside of Greece while you can enjoy a tax-free external income!
The lowest investment at a promising market
If you flirting with the idea to obtain a Greek Golden Visa you may also wander: Why particularly in Greece and not at another European country? That is a good question. And the answer, except the above mentioned, incredibly good reasons to prefer Greece –unique environment, high tourism standards, great level of living conditions and of course taxation- is really unrivalled: The threshold investment options are relatively lower than in most other EU countries with Golden Visa routes.
Indeed, with only 250,000 Euros, you can invest in one of the world’s highest growth markets, the real estate. And not any real estate market, but that of Greece. Invest in a property on one of the famous or less famous islands, on a mountain region, where nature grows unencumbered, or down by the beach where the beauty is everlasting. In a village or in a big city, the opportunity to invest in Greece is really too good to miss.
In order to apply for a Greek Golden Visa one must
- Be over the age of 18
- Be a non-EU country citizen
- Have a clean criminal record in any country
- Make a significant investment in Greece
- Have a health insurance
Possible beneficiaries of the Program are investors who:
- Own a real estate property in Greece, either personal or through a legal entity, provided that the minimum value of the property is no less than 250.000 euros
- Have signed a timeshare agreement (lease), whether for hotel accommodations or furnished tourist residences -always of value no less than 250.000 euros- for a minimum of 10 years.
- Reside in Greece with a residence permit or those who want to live in the country and have full ownership and possession of real estate property in Greece, provided that they have purchased the real estate property for a minimum of 250,000 euros. Or at least, the current objective value of their property is at a minimum of 250,000 euros.
- Fully and legally own real estate property in Greece, the minimum value of which is 250,000 euros which was acquired through a donation or parental concession
- Purchase a plot of land and proceed to erect a building, provided that the cumulative value of the land purchase and the contract’s worth with the construction company is a minimum of 250,000 euros.
All the family members of the investors described above are also eligible to apply for the Greek Golden Visa, except in the case of a donation or parental concession, in which the right to the program can only be exercised by the receiver of the donation/parental concession.
The Greek Golden Visa step by step
In order to obtain the Greek Golden Visa, one can take the steps described below:
- Apply for an entry visa to the Greek consulate authority
- Collect and provide the necessary documents
- Submit the documents to the one-stop service of the Alien and Immigration Department at the Decentralised Authority
- Wait for the visa to be processed, usually within 3 months
- Undertake legal acts and transactions with the competent authorities in the country, using their entry visa
Of course, you can always get in touch with our real estate consulting agency, one of the best in the field in Greece in order to find the appropriate property and help you during the whole process of acquiring this really Golden Visa.
Of course, you can always get in touch with our real estate consulting agency RE/MAX Plus, one of the best in the field in Greece in order to find the appropriate property and help you during the whole process of acquiring the golden “ticket” which will change your life.
A full team of experienced realtors and other specialists in the field, including the prestigious Athens based lawyer Dimitris Stamoulis, is ready to offer you all the services that are needed for getting this valuable Visa. Most of all, you can feel more than confident knowing that the whole procedure is under the aegis of the RE/MAX, the number one Real Estate company worldwide.