How to get a Golden Visa in Greece
Our company has extensive experience helping families find real estate and apply for the Golden Visa in Greece. Before making any decisions, it’s crucial to understand the program fully, including eligibility, investment prerequisites, and other essential details. That’s why today, we created this article & video about the Greek Golden Visa Program – to answer the most popular questions about this program. We will delve into this program in detail, discussing its requirements, benefits, and more.
Let’s get started:
The Greece Golden Visa is a residency-by-investment program that allows non-EU citizens to obtain Greek residency by investing in real estate or other assets in Greece
This program started in 2013 and works like this: If you spend as little as €250,000 on real estate in Greece, you can get a five-year permit to live there. And guess what? You can bring your family along too! With this permit, you can live in Greece and travel around the Schengen area without needing a visa.
Please note that as of May 1st, 2023, there are new rules regarding the minimum investment amount. You can now qualify for the program by investing as low as €250,000 in Greek real estate, except for municipalities in Athens, Thessaloniki, Mykonos, and Santorini. In these specific areas, the minimum investment threshold increased to €500,000 starting from July 31st, 2023. For example, on Corfu and Paxos, the minimum investment remains at €250,000
The Greece Golden Visa Program offers a variety of benefits for investors.
1) The lowest entrance amount along Europe
2)Freedom to travel in Europe without a Visa
3)Quick process to get a European residence permit
4)3 generations of family members included – Children under 21, Parents & In-laws, partners
5)No requirement to live in Greece
6)Flexible investment options (Land, one big property, 2-3 properties together) *
7)Unlimited renewals of residence permit – As long as the investment remains in possession
8)Citizenship option – After a minimum 7-year stay (min 180 days per year)
9)Free education for kids in school
10)Free access to European, high-level education and health systems
11)Immediate income from investment
12)The lowest state fees
13)Applicants’ spouses or blood relatives up to second degree are allowed to fund their investment
The initial Golden Visa is typically valid for five years. However, it can be renewed as long as the investment is maintained.
The Greece Golden Visa program allows for the inclusion of three generations of family members. This includes:
- Children under 21 (unmarried): If you have children under the age of 21, they can be included in your Golden Visa application.
- Spouse/partner with whom the investor is married or has concluded a contract of cohabitation in Greece.
- Parents: Your parents can also be included, allowing them to benefit from the Golden Visa program.
- In-laws: In addition to your parents, the program permits the inclusion of your spouse’s parents (your in-laws).
Please note that children must be under the age of 21 to be eligible for inclusion in the Golden Visa application. If they are 21 or older, they would need to apply separately. Children must be unmarried.
No, there is no requirement for Golden Visa holders to live in Greece. You have the flexibility to live wherever you choose, and you can visit Greece as often as you like while maintaining your Golden Visa status.
You can obtain Greek citizenship through an investment Golden Visa Program. First, you’ll need to purchase the property through an investment Golden Visa Program. Once you’ve fulfilled the investment requirement, you can initiate the process to become a resident in Greece. After residing in the country for 7 years (this is very important), you become eligible to apply for Greek citizenship.
Yes, co-ownership is allowed as long as each person invests at least €250.000. You may own a property with one or more people – even if they are not family – and all of you may apply for a Greek residence permit under the above condition. In case of co-ownership between spouses the above condition does not exist and one property of €250.000 is enough to ensure a Golden Visa for the couple.
For example, you and your friend can buy a villa in Corfu or Paxos for 500.000 € for your summer holidays. From that, your family & and the family of your friend will get a golden visa. A bonus: You have the right to rent your property immediately after the acquisition and enjoy income from the rent.
Yes, the holders of the residence permit under the Golden Visa program, as well as their family members, have access to Greek public education, and this includes attending public schools and universities. The good news is that public education in Greece, including universities, is entirely free.
Regarding access to health services, it’s important for third-country citizens and their family members covered by the program to have health insurance that covers their medical expenses while in Greece. This can be demonstrated through insurance contracts signed either outside of Greece or within the country. The insurance must explicitly state coverage for the duration of their stay in Greece. This ensures that healthcare needs are met while residing in Greece.
No, the Golden Visa program does not grant the right to work in Greece for the main applicant or the family members included in the application. But, you can purchase a villa and become an owner, earning passive income from renting it out.
There is no legal requirement to hire a lawyer for collecting and processing the necessary documents for a Golden Visa application. However, in certain situations, it may be advisable to seek the assistance of a legal representative, especially if the applicant does not speak Greek or is located outside of Greece.
Having a legal representative or proxy in Greece will facilitate the application process by 100%.
In our experience, most applicants prefer to have professional guidance and support, as navigating the bureaucracy and paperwork can be challenging, especially if you are not familiar with the Greek government processes. This can simplify the process and ensure that all documentation is accurately prepared and submitted.
Due to the pandemic, Greece has simplified the conditions for participation. It is now possible to buy property and apply for a residence permit online without having to visit the country. The only requirement is to visit for fingerprinting, which can be done within one year from the purchase date.