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Greece’s Golden Visa: Europe’s Cheapest Residency by Investment Program

26 February 2017

Greece’s Golden Visa: Europe’s Cheapest Residency by Investment Program
For many looking for more travel freedom, Europe offers some of the most enticing Residency by Investment Programs that afford eligible applicants and their dependants access to more than 160 countries worldwide, including the attractive Schengen region.

Foreign investment in real estate has become a top choice for business-minded men and women seeking immigration solutions in Europe’s lucrative property market.  Countries such as Greece, Malta, and Spain, among others, offer what is commonly known as a “Golden Visa Program” which grants foreign nationals permanent residency in exchange for an investment into a country’s economy. In this article, we will discuss the finer points of Greece’s Golden Visa Program and why Greek residency is so appealing.

Facts about Greece

Greece is situated in the southernmost part of Europe’s Balkan Peninsula, which includes over 1,400 islands beyond the country’s mainland. Greece celebrates a rich history in the birth of civilization and stunning architecture, where visitors from all over the world travel to see Athens’ famous Acropolis or admire the country’s picturesque seaside cities and mountainous landscapes. In addition, Greece is known as one of Europe’s “sunniest” countries, averaging more than 250 days of sunshine each year. With this combination alone, residency in Greece is hard to beat for those looking to permanently relocate or find the perfect holiday getaway.

As a member of the European Union, permanent residents of Greece can also enjoy the freedom of mobility between all participating states.

Greece Residency by Investment Program

Greece’s Residency by Investment Program, also known as a “Golden Visa Program,” was established in 2013 to assist in economic recovery for the country’s post-financial crisis of 2008. Like all European residency programs, Greece’s Golden Visa is designed to attract high-net worth individuals (HNWIs) willing to make an investment into the economy in exchange for a 5-year Greek permanent residency visa, which is renewable indefinitely.

Cheapest investment options for Greece’s Golden Visa Program

Why invest in Greece? For starters, Greece’s Golden Visa Program offers the cheapest route to residency through the country’s real estate investment options. For as little as EUR 250,000, eligible applicants can choose between the following:
  1. Make a minimum investment of  EUR 250,000 in a residential real estate property; OR,
     
  2. Sign a lease for a minimum of 10 years in hotel accommodation or other furnished tourist residences. The contract must require a single payment for the lease, with minimum investment of EUR 250,000; OR,
     
  3. Sign a timeshare agreement with minimum investment of EUR 250,000.
However, those choosing to invest in Greece’s Golden Visa Program through its real estate option must keep in mind that receiving and retaining Greek permanent residency is conditional. Property investments must be legally owned and maintained by the investor for the duration of residency. Should the investor choose to sell the property to another non-EU national, the new buyer is able to apply for residency while the initial investor’s residency is withdrawn. In short, this simply means that a foreign investor must own a property (i.e. a rental property) in his or her name in order to maintain permanent residency status.

Like many Residency by Investment Programs offering real estate options, applicants to Greece’s Golden Visa Program are not obligated to physically reside in the country year-round, but reserve the right to live, work, or study anywhere in Greece.

If applicants and their dependants choose to permanently live in Greece, full Greek citizenship can be obtained after 7 consecutive years of residency with dual citizenship recognized.

Additional benefits of Greece’s Golden Visa Program

If you’re not sold on Greek residency yet, added benefits of Greece’s Golden Visa Program include fast-track application processing, which means eligible applicants and their family can obtain Greek permanent residency in as little as 2 months. Even more, Greece’s residency program requirements do not include a net-worth minimum, making the Greece Golden Visa Program investment option an enticing and affordable deal for foreign nationals.

For more information of Greece’s Residency by Investment (Golden Visa) Program, please click here.

To see our European Golden Visa Program comparison table, please click here.

Fill out our Free Assessment to see if you qualify for any of the immigration programs offered.
 

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