Rasheed Alkhanji QICMS
Published 12:22 PM 2 September 2021
Updated 12:50 PM 2 September 2021
Greece Residency by Investment Program | EU Immigration
More than ever international investors are looking to Greece to invest and gain Greece Residency and Citizenship by Investment. The fact that one is not required to live in Greece prior to or during the application, or even after Greece Golden Visa has been granted, makes the Greece Golden Visa Program very practical.
Greece Investment Residence Permit (GIRP) has been stipulated in the Immigration and Social Integration Law of Greece (Numbered 4251/2014) in order to attract investors all around the world, who are searching for free trade & travel opportunities within the EU.
Why Golden Visa Program in Greece?
Greece has a loaded culture that has developed over thousands of years. In addition to the culture, Greece enables first-class education and healthcare services. It is allowed dual citizenship and the passport is renewable for life and passed onto future generations.
Greece is a trade link between Europe, the Middle East, and North Africa. The country’s main sectors are tourism and agriculture. Since it provides Visa-Free entry to all the countries of the Schengen without time limitations, to have a permanent residence allows the permit holder to move freely in the trading world.
Greece Residency by investment (RBI) program - Investment options
Greece RBI requires non EU applicants to make an economic contribution to Greece. Within this context, investors have following investment options:
Make a minimum investment of EUR 250,000 in a residential real estate property, OR;
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;
Sign a timeshare agreement with minimum investment of EUR 250,000.
Note that investments must be held for the duration of residency. Resale of the property to another non-EU national, allows the new buyer to apply for residency while vendor’s residency is withdrawn.
Apart from the abovementioned requirements, the principal applicant must be over 18 years of age and her/his family members shall have a clean personal background, shall be in good health and of character.
How many family members can apply for Greece Residence Program along with the principal Applicant?
All family members; spouses, the direct descendants of the spouses, who are under the age of 21 (children), the direct ascendants of the investor or her/his spouse (parents and parents-in-law) as well as the main applicant can be extended Greece Golden Visa application.
How long does the process take?
Greece residence permit process takes 2-6 months from submission of the application to approval.
What are the advantages of Golden Visa Program in Greece?
Main advantages of Greece Residency by Investment Program are;
Visa-free travel throughout Schengen zone.
Visa holders may apply and obtain Greece Citizenship by Investment after 7 years of lawful residency.
The real estate may be rented to third parties.
Greece Golden Visa Program offers the lowest required investment amounts for residency in Europe.
Greece does not ask for tax payment if the investor does not plan to live in Greece. Nevertheless, the Greek government collects several taxes from money earned in the country, such as income tax & property tax.
Applicants do not have to take any language test.
Today, foreign nationals from all over the world are showing an increased interest in obtaining Greek residency through real estate investment opportunities. From large offshore corporations investing hundreds of millions in the Greek economy to affluent global citizens purchasing personal residences, the historic southeastern Mediterranean country will continue to see a rise in economic gain.
For more information about Greece’s Golden Visa Program, please click here.
To view our European Golden Visa Program comparison table, please click here.
If you would like to see our Residency and Citizenship Programs through Real Estate Investment comparison table, please click here.
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