INTRODUCTION
The Greek Golden Visa Program
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.
KEY TAKEAWAYS
The Greek Permanent Residency Program is the most cost-efficient in the EU and includes the entire family.
All you need to do is invest a minimum of €250,000 in Greek real estate and in 2 months you have your residence permit and visa-free access anywhere in the Schengen Zone.
Residence Permit in 60 days
A 5-year renewable residence permit.
Most economic entry in EU
Just a mere €250,000 investment
Travel without a visa
Visit Schengen Zone for 90 days during any six months
Investing in Property
Your Mediterranean summer paradise
The entire family shares the benefits
Spouses and children.
Top-notch living standards
Free Greek medi-care available
ACCESS
Visit 26 European Countries without a Visa
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.
CONDITIONS
Real Estate Purchase with just €250,000
Residence Permit Valid for 5 years
The investment may include more than one property provided the total value amounts to at least €250,000
The residence permit can be renewed for another 5 years, as long as the investor still owns the property
STEPS AND TIMELINE
Greek Residency Acquirement Procedure
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.
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.
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.
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