What is Golden Visa?
Many countries offer Residency by Investment (RBI) schemes as an incentive to attract investment from foreign nationals. These schemes are known as “Golden Visas” and provide residency rights to investors in exchange for specific investments in real estate or financial instruments.
More specifically, the Greek Golden Visa enables individuals to secure permanent residency in Greece by investing a specific amount of money in an authorized project, typically in real estate. Subsequently, you can use your permanent residency to pursue citizenship by fulfilling the necessary requirements.
When the Greek Golden Visa Law came into force in July 2013, it grants a five-year residence permit to non-EU nationals in exchange for as low as a €250,000 real estate investment in Greece. Nowadays, the minimum value of property required for gaining the Golden Visa is €500,000 (plus taxes).
Except from buying a property in Greece, there are also many other options to register for a Greek Golden Visa:
-10 years of a lease agreement, whether signed for hotel accommodations or furnished tourist residences in integrated tourist resorts
-Invest at least € 400.000 to a registered company in Greece
-Purchase government bonds valued at € 400,000
-Money transfer to a greek bank for at least one year
What are the benefits of the Greek Golden Visa?
The Golden Visa Scheme boasts an extensive list of benefits ranging from financial gains to visa-free travel. More specifically:
Right to live in Greece
The Greek Golden Visa allows you and your family to live in Greece, without limitation to how long you can stay. As a matter of fact, there is no minimum stay requirement either. The residence permit is practically granted for a lifetime, with consecutive 5-year renewals. There is no limit to how many times a residence permit can be renewed, provided that the applicant still be in full ownership and possession of the minimum investment The right to live in Greece comes with public healthcare and education benefits as well.
Freedom to travel in Europe without a Visa
The Golden Visa gives you the freedom to travel across the Schengen zone without the need for an additional visa. The Schengen zone consists of 27 European countries that have officially abolished their internal borders, for the free and unrestricted movement of people.
The 27 Schengen countries are Austria, Belgium, Czech Republic, Croatia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland.
No residency requirement
Living in Greece before or during the Golden Visa residence application is not an obligation. Or even living after the Greece residence permit has been granted.
Family Members who are eligible to apply for a greek Visa
-Children over 18 years of age
-Your spouse
-Your spouse’s parents
You won’t have to pay Greek tax
You can be a resident of Greece and not pay its tax if you don’t physically live there for at least 183 days a year. Depending on your country of residence and the amount of time you spend in Greece, it is likely that your international income may not be subject to taxation in Greece. In that case, you may maintain your business activities outside of Greece without any obligation to pay taxes in Greece. You will, however, be liable to pay tax for income derived in Greece and the rate for rental income from property.
Who is Eligible for a Greek Golden Visa?
In order to qualify for a Golden Visa in Greece, you must meet the following requirements:
– Be a non-EU/EEA country citizen
– Be at least 18 years of age
– Υou must not have any history of criminal records, in any country you have lived in
– You possess the financial means to establish and sustain your investment
– You (and your family) must have obtained health insurance from a company operating in Greece.
As of 2021, you no longer need to visit Greece in person in order to start your application.
Application process for a greek Golden Visa:
-Determine if an entry visa is required
-Seek guidance from a professional agency
-Select your investment
-Initiate the visa application process
Typically, the Golden Visa is granted within approximately 40 days. However, in some cases, processing times may extend.
How long does the Golden Visa last?
There is no minimum-stay requirement, by means that the Golden Visa holders are not required to stay in Greece, or visit Greece, to maintain their residency rights. Still, it is required to return every five (5) years to update your biometric data. However, to gain citizenship rights, you must fulfill a specified number of years of residency.
What can Prosperty do for you?
At Prosperty we don’t just find the right property in Greece that will provide you with a Golden Visa by proposing real estate opportunities, but we offer you a complete experience until the close of escrow.
How?
By providing you with a team of certified lawyers, engineers and notaries, who undertake the entire process until the keys are in your hand, while we coordinate their every action. This way, you don’t need to worry about anything, since not only do we take care of everything, but we also reduce the final cost for you! All you have to do is choose the property of your dreams and leave the rest to our team!
Discover some of the best Golden Visa properties for sale in Athens:
Apartment Ampelokipoi – Athens Center
See the property in detail by clicking here
Apartment Kipseli – Athens Center
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Apartment Kipseli – Athens Center
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Floor Koukaki – Athens Center
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Floor Alimos – Athens South
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Apartment Nea Smyrni – Athens South
See the property in detail by clicking here
