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Greece Residency

Greece Residency By Investment

Greece is the birthplace of democracy and western philosophy. It is one of the oldest civilizations in Europe, steeped in artifacts and historical sites, but also a place of natural beauty which beckons you with its emerald shoreline, hills of pine trees, and olive groves. The Golden Visa Programme was launched in 2013 to attract foreign residency in Europe via a real estate purchase. As a full member of the EU and Schengen states, Greece not only attracts international tourism but also provides a gateway to visa-free travel within the Schengen zone. The visa enables the applicant to live and setup a business, but not work in Greece.

Greece has a mild climate, warm waters and friendly people. But those are not the only reasons to choose it for life. doing business and making a profit from renting out real estate are also among the benefits to consider. Other reasons for obtaining a residence permit and then Greek citizenship include travelling around the world without visas or the ability to open an account with a European bank.

The Greece Golden Visa Program allows investors to get a residence permit and then Greek citizenship by naturalization. Applicants invest in real estate, stock or deposits. The money can be returned after five years.

Investment Options for the Greece Golden Visa:

  1. Purchase a real estate property worth at least €250,000
  2. Make a capital investment of at least €400,000 in a company registered in Greece
  3. Make a €400,000 investment in Greek government bonds
  4. Make a €400,000 investment in bonds or shares of real estate investment companies
  5. Make a €400,000 deposit in a Greek bank
  6. Make an €800,000 investment in corporate or government bonds

Eligibility criteria for a Greek Golden Visa are:

  1. You must be over the age of 18
  2. You must be in good health
  3. You must not have any history of criminal records, in any country in which you have lived
  4. You must make a significant investment in Greece (from available investment options)
  5. You must have obtained health insurance from a company operating in Greece

Benefits of Greece Residency (Golden Visa):

  • Residency for lifetime, renewable every 5 years as long as you retain the property
  • No requirement to live in Greece to retain or renew the Residency cards
  • Right to apply for Greek citizenship after 7 years
  • Visa Free travel to Schengen Countries during Residency, after getting Passport, Visa-Free travel to 170+ countries including EU, UK, Schengen, USA
  • Dependents: Spouse, Unmarried Children up-to the age of 21, children till age of 24 who are student, dependent parents and parent in-laws regardless of the age
  • Only 2-3 month processing time, straightforward process
  • You can choose to rent out your property after purchase
  • You can live and invest in Greece
  • Access to healthcare and the educational system of the country is another benefit of residency
  • The PR entitles the investor to register and operate his own business in any Schengen country
  • Opening bank accounts in Greece will be easier if you have a residence permit in the country

FAQs:

If the investor having a family will they get the resident at the same time?

Yes, the Investor and the family members can all apply at the same time.

What is the limit age for the dependent’s children?

21 years old, kids till the age of 24 can also be included if they are unmarried, student, and financially dependent.

What are the steps to get the residency?

The main steps to get the residency are the following:

  • Power of Attorney to a Greek Lawyer (we cannot book an appointment without a POA)
  • Booking an appointment for the G.V.
  • Paying the expenses for the purchase contract (transfer tax / notary fee / land registry fee / legal fee etc.)
  • Paying the purchase price for the property
  • Signing the purchase contract
  • Filing the Deed (purchase contract) with the Land Registry
  • Translating the documents / certificates & buying the insurance
  • Filing for the residency.

Do you need to renounce your first citizenship to get a Greek passport?

Greece allows its citizens to have multiple citizenships. Thus, investors mustn’t refuse their first passports unless their motherland countries allow dual citizenship, too.

When will I get my Greece Citizenship?

To get a Greek passport by naturalisation, investors should permanently live in the country for seven years — so they become tax residents for that time, and their global income is taxed in Greece. After becoming a Greek citizen, they may move to another country.

Can the investor include his parents or parents in law?

Yes, parents and parents in law can also apply for a Golden Visa.

If the investor has divorce will the spouse still keep the residency?

In case of divorce, the spouse will be able to keep the residency as long as the Investor doesn’t remarry, and the new spouse doesn’t also apply for the residency. The spouse will not be able to file for renewal of the residency.

How Long Do I Need to Live in Greece to Renew the Golden Visa?

Unlike most other countries that issue Golden Visas, you do not need to live in Greece at all in order to renew the residence permit. You can keep renewing it every five years, as long as you maintain your investment.

Can I Get Greece Citizenship by Investment?

Yes, you can become a Greek citizen by investing in Greece and obtaining a Golden Visa. However, unlike residency, you cannot apply for Greek citizenship without actually living there and paying taxes. You must live in Greece for at least seven years before being eligible to apply for citizenship.

In addition, you must also be able to prove you have ties to the country and knowledge of the Greek language and culture, at least on a basic level.

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