Ultimate Guide to Greece’s Golden Visa Scheme
The Greek Golden Visa was one of Europe’s cheapest routes to citizenship, with an investment in Greek real estate. Even with a recent increase the minimum to 500,000 Euros, the Greek Golden Visa scheme remains a popular choice.
Through the Greece Golden Visa scheme, you and your family will gain access to a wide range of benefits that come with the prospect of securing citizenship, allowing you the freedom to live, study, work, do business and retire anywhere in Europe. This guide will take you through all the key points to consider before you make an application.
What is Greece’s Golden Visa
The Greek Government launched their Golden Visa Programme in 2013. Successful applicants are granted a 5-year residence permit for an investment in Greek real estate of at least €500,000. A Greek Golden Visa allows you to live in Greece and provides visa-free travel within the Schengen region.
Key Benefits
Time limits – The Greek Golden Visa allows you and your family to live in Greece without any restriction on the length of your stay. Also, there is no requirement to stay within Greece for a minimum period.
Schengen Zone – visa-free travel within the 26 countries of the Schengen Zone.
Family – Your spouse and children (under 21) will also be permitted to enjoy the same benefits of the Greek Golden Visa. The Greek Visa Programme also provides an Extended Family Benefit, allowing the lead applicant’s parents and their spouse’s parents to receive a visa.
Tax benefits – The Greek Government provides a range of incentives for retirees, digital nomads and expats. A certified financial advisor can help you take advantage of these benefits.
Healthcare & Education – You will get access to Greece’s public healthcare system and education benefits.
Eligibility Criteria for Non-EU Nationals
Golden Visa applicants must meet the following requirements:
- Be a citizen of a non-EU/EEA country
- At least 18 years of age
- No criminal record
- Have medical insurance in place for yourself and your family
- Be of good character
Investment Options
Real Estate Investment
- €500,000 purchase of a real estate property in Greece
- 10-Year Lease Agreement – hotel accommodation or furnished tourist accommodation in a tourist resort
The applicant must retain full ownership of the property when applying through property purchase, whether direct ownership or through a legal entity. Leased accommodation must be for at least 10 years and €500,000, with the contract paid in a single payment.
Other Investment Opportunities
An investment of at least €400,000 in:
- Greek Government bonds
- Shares or bonds in Greek real estate investment companies
- Investment in a venture fund and private equity firms based in Greece
Applicants can renew their Golden Visa Permit every 5 years. The above conditions must be met to complete your renewal.
Greek Golden Visa Process
STEP 1: Establish the investment path and property
STEP 2: Get a Greek Non-Resident Tax number and open a Greek bank account
STEP 3: Buy the property – your lawyer undertakes due diligence on your planned investment property before completing the purchase of your property (promissory sale, purchase agreement and execution of a public deed)
STEP 4: Application – get all the documents together for the application. A lawyer is highly recommended to ensure there are no errors in the application
STEP 5: Provide biometric data in person to the Greek authorities
STEP 6: Greek authorities will approve the application issuing you a Golden Visa Residence Card
STEP 7: Remember, every 5 years, you will need to renew your Golden Visa, which is essential for a Permanent Residence application
STEP 8: After 7 years of living in Greece, you can apply for Greek citizenship and a Greek passport
Required Documentation & Submission
You will require the following documentation for your Golden Visa Application:
- 2 copies of the application document
- 4 current colour passport-style photos
- Copy of a valid passport
- Fees paid through the e-Paravolo platform (approximately €500)
- Certificate of Health Insurance Cover
Your lawyer can submit your application on your behalf, or you can submit it yourself. Greek authorities may request additional documentation.
Greek Citizenship
After 7 years, a Golden Visa Programme applicant can apply for citizenship, subject to the applicant meeting the following requirements:
- Lived in Greece for at least 7 years
- Pay taxes in Greece during the 7 years
- Pass a Greek language test
- Prove an interest and connection to Greece
To speak with a recommended independent advisor who can help you with any questions about a Greece Golden Visa – Contact Us.
