Greece has been a popular destination for tourists and investors in recent years.Launched in 2013, the Greece Golden Visa Programme offers foreign investors the opportunity to obtain a residency permit by making a significant investment in Greece.Integritas can assist you through the Greece Golden Visa Programme process if you are interested in getting a Greek residency permit. Read more about the programme here.
Benefits of the Greece Golden Visa
The Greece Golden Visa Programme has several benefits, including the ability to live and work in Greece, travel freely within the Schengen Area, and access to quality healthcare and education. The following are additional advantages of the program:
- Low investment threshold
- No residence requirement
- Opportunity to rent out or lease your property
- Indefinite renewal of residence permit (as long as you maintain your investment)
- Citizenship eligibility after seven (7) years of continuous residence
- Residence permits for your family
Who are Eligible for Greece Golden Visa?
To be eligible for the Greece Golden Visa program, you must:
- Be a non-EU citizen;
- Be at least 18 years old;
- Not have any criminal records;
- Have medical insurance from an insurance company based in Greece; and
- Make the required investment.
Greece Golden Visa Investment Options
- Purchasing real estate property in Greece worth at least €250,000;
- Lease agreement (10 years) for hotel accommodations or furnished tourist residences located in tourist resorts; and
- Time-sharing agreement (10 years) for hotel accommodation.
Capital Contribution, Treasury Bonds, Corporate Bonds, Purchase Shares, Mutual Funds
- At least €400,000 capital contribution to a company headquartered or established in Greece (except Holding Companies and Real Estate Investment Companies) for the acquisition of stock in a capital stock increase or bonds upon the issuance of a bond loan, which are listed for trading in regulated markets or multilateral trading facilities operating in Greece;
- At least €400,000 capital contribution to a Real Estate Investment Company (REIC), whose object is to invest exclusively in Greece, for the acquisition of stock in an increase of its capital stock;
- At least €400,000 capital contribution to a Venture Capital Company (VCC) for the acquisition of stock, or capital contribution to a Venture Capital Fund (VCF) for the acquisition of stock, provided that the object of the said Alternative Investment Funds (AIF) is to invest exclusively in companies headquartered or established in Greece.
- Purchase of Greek Treasury bonds, with an acquisition value of at least €400,000 and a residual duration, at the time of purchase, at least three (3) years, through a credit institution established in Greece, which is also their custodian;
- At least €400,000 term deposit in a domestic credit institution, for at least one year, with a standing renewal order;
- Purchase of shares, corporate bonds, or Greek Treasury bonds, which are listed for trading or traded in regulated markets or multilateral trading facilities operating in Greece, of an acquisition value of at least €800,000 eight hundred thousand;
- Purchase of shares of an acquisition value of at least €800,000 in a mutual fund, which has been established in Greece or another country and whose object is to invest exclusively in shares, corporate bonds or Greek Treasury bonds that are listed for trading or traded in regulated markets or multilateral trading facilities operating in Greece; and
- Purchase of shares or stock of an acquisition value of at least €400,000 in an Alternative Investment Fund (AIF), which has been established in Greece or another Member State of the EU and whose object is to invest exclusively in real estate in Greece, provided it is included, upon its request, in the list compiled by the Foreign Funds Directorate of the Ministry of Development and Investment in cooperation with the Hellenic Capital Market Commission.
The timeframe for the programme is flexible, allowing investors to obtain their visas within months of making their investments. The process for the Greece Golden Visa Programme is relatively straightforward:
1. Choose Your Investment Option
This step requires making the qualifying investment in Greece. The qualifying investment can take the form of purchasing property, investing in Capital contributions, Treasury Bonds, Corporate Bonds, Purchase Shares, or Mutual Funds.
2. Submit Application
Once the investment is made, investors must submit an application to the Greek government. This application must include supporting documentation. After the application is submitted, it will be reviewed by the Greek authorities.
3. Submit Biometric Data
This step requires visiting Greece for the submission of data to the authorities.
4. Greece Golden Visa Approval and Renewal
Successful applicants will be granted a Greece Golden Visa if everything is in order. The visa is good for five (5) years. It can be renewed indefinitely; the only requirement is maintaining the investment.
5. Applying for Greek Citizenship
You can apply for citizenship if you continuously reside in Greece for seven (7) years.