Introduction
The Citizenship by Investment (CBI) programme offers the opportunity to legally acquire nationality in return for an investment in the Greek economy. The Citizenship by Investment programme helps you obtain nationality easier and faster than the traditional methods.
In order to obtain this status, you are required to provide all the necessary documentation, make a property investment of at least €250,000 and pass all the due diligence checks first.
SPACEERS™, as experienced buyers’ agents, can represent the potential investor during the whole procedure of property acquisition, without creating any major turmoil in your life. The buyers are not required to be present at the time of purchase and can be represented by our lawyers. SPACEERS™ can help you plan and find the property for your investment.
What you need to do is decide:
- How much capital you can afford and are willing to invest
- And if you are prepared to reside in Greece
Greek Citizenship by Investment
ULTIMATE GUIDE
Greek citizenship by investment is a lucrative option for many international investors. International business executives, investors, and VIPs who need to travel worldwide often consider an alternative citizenship and passport as a powerful tool for international tax planning and a safety net if the living conditions in their home country become unstable due to political or social factors.
Benefits of Citizenship by Investment Program:
There are plenty of benefits to having dual citizenship, they include:
- Easy global travel
- New economic opportunities, better quality of life
- Better personal security.
The Greek citizenship provides several benefits, including:
- Free travel to the Schengen zone area which includes 26 European countries, as well as the USA, Canada, and the rest of Europe.
- Holders of Greek citizenship have the opportunity to retire in a safe country with a mild climate and stunning beauty, as well as enjoying the hospitality and friendliness of the people.
- In view of the chaos covid-19 has created in all countries; Greece still has some of the best recorded numbers of infection rates, and is by far a safer place to live in.
- Children can have a better education in either private or international schools and even public schools.
- Children also enjoy visa free travel and the right to live, work, or study in select universities if they so wish.
- The whole family is entitled to better living conditions, including better healthcare and a safer environment.
What is required to obtain the Greek citizenship?
Greece Residency Golden Visa is the first prerequisite to acquire your Greek citizenship. To acquire this you need a minimum investment amount of €250,000 for real estate (property, timeshare, or plot of land) in Greece.
Maintain your residency -The residency is permanent; but it needs to be renewed every 5 years and you must maintain the property under your ownership. As a resident, Greece does not require you to stay or reside in Greece, unless you plan to apply for citizenship.
After 7 years – Having acquired your Greece Residency Golden Visa, and spent at least 183 days per year in Greece, you will be able to apply for citizenship (EU passport).
You must have a clean criminal record in Greece and your home country as well.
The main applicant of CBI may include his/her family as well; their spouses, both of their parents, and all children under 21 years of age.
Greek citizenship automatically grants you European citizenship. Since Greece is a member of the European Union, its citizens are automatically European citizens, which means you are allowed to live, work or study anywhere you wish in Europe.
Once you acquire your Greek citizenship under the CBI programme, you and your family can enjoy full citizenship for life, which can also be passed on to future generations by descent.
Application First you need to file your residency application. You need to send a list of documents such as birth certificates, marriage and divorce certificates, as well as police clearance all of which must be submitted with the application. All documents must be in Greek and documents issued by foreign authorities need to be certified. All documents must be officially translated by the Translation Service at the Ministry of Foreign Affairs or by a lawyer who is a member of the Bar Association of Greece.
Application Review. The Greek Authorities issue a receipt of application which may be used as a temporary permit before the final residence permit is granted. The document is valid for a year. The application is reviewed and due diligence checks are carried out. This step usually takes approximately two months.
Golden Visa Issued. The permanent residency document, ‘Golden Visa’ is issued after successful review of the application submitted to the Greek government.
Citizenship Application. Following seven (7) consecutive years of residency, you may file for Greek citizenship.
General Requirements for all those who wish to become Greek citizens:
- The main applicant must be over 18 years of age, at the time of the application.
- He/she must have a clean criminal record and not have been convicted of a crime/offence committed intentionally, in the last decade leading up to their application for citizenship.
- He/she must not be under a deportation order.
Unlike other countries, Greece lays down certain conditions for acquiring citizenship in the country. Namely the applicant must:
- Have an adequate knowledge of the Greek language, history and culture.
- Be integrated in the economic and social life of the country; own real estate in Greece, pay taxes, attend a Greek university, and so on.
After Acquiring your Greece Citizenship by Investment
- After becoming a citizen of Greece, you do not have any tax implications unless you continue to reside in the country. Individuals who spend more than 183 days per annum in Greece are considered to be tax residents.
- In Greece you are allowed to keep your original citizenship as there are no restrictions on dual citizenship with the country.
- Once you acquire your citizenship you are free to dispose of your investment as visa renewals are no longer required.
The Greek Golden Visa and how this could help British Nationals looking to avoid Brexit
Conclusion
Do not hesitate to contact SPACEERS™ to receive the complete list of application documents and cost estimate for you and your family. Now is the right time to invest in Greek real estate property and enjoy the benefits of the Greek Golden Visa Residency and eventually Greece citizenship by investment.
Fill this form and we’ll get back to you and arrange a complimentary consultation.