Golden Visa

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In 2013, the Greek government introduced the “Greek Golden Visa” program. This entitles foreign property owners in Greece to obtain a residence permit in the country.

The residence permit is valid for five years after which the holder may renew it provided he or she still owns the property. It is a simple process, with no further requirements, it is not even necessary to stay in the country. It also offers the opportunity to apply for citizenship soon after it is renewed.

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Greek Residence by Investment offers visa-free travel anywhere in the Schengen Zone — travel visa-free to 26 EU Countries, including Switzerland, Norway, and Iceland.

Go on an urgent business trip or surprise your family with a dream holiday in Europe.

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PREPARATION

1. Choice of Investment Course and Property

To accomplish this step, you must set your standards and select the property you wish to invest in. There is a wide range of options you can choose from. But remember the total value must amount to €250,000 or more.

2. Legal Steps

Before completing this step you need to obtain a Greek Non-Resident Tax number and open a Greek bank account. At this point it is advisable to draw a Power of Attorney.

IMPLEMETATION

3. Property Purchase

At this stage, the lawyer will complete the ‘Legal Due Diligence’ of the property as designated in the Power of Attorney. Hereafter, you need to acquire the promissory sale and purchase agreement and the execution of a public deed.

4. Before Applying

All the required documents regarding the Golden Visa application must be prepared, by now. Assigning a lawyer is a wise decision as all the paper work may be too complicated.

5. Visit Greece

All the original documentation must be submitted to the Greek authorities involved.

ISSUANCE

6. GOLDEN VISA Approval

Once your Golden Visa application is approved, you are issued a Golden Visa Residence Card.

7. Renewal

Your Golden Visa residence card must be renewed every five years, so as to maintain your residence in the country.

8. Applying for Citizenship

After seven years of residence in the country and paying taxes you are eligible to apply for citizenship and a Greek passport. However, the program only started seven years ago, so getting citizenship is rather new and there is not much information available on it, for the time being.