March 16, 2024

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Discover the Benefits of Greece Golden Visa Program: a Full Guide for 2023

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Discover the Benefits of Greece Golden Visa Program: a Full Guide for 2023

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Greece Golden Visa is a residency permit that allows investors to stay in Greece for an extended period of time. This visa is attractive to many investors, as it offers many benefits, including access to the Schengen area, Greek citizenship, and tax incentives. In this article, we will cover all the aspects of the Greece Golden Visa, its requirements, the process of obtaining a Greece Golden Visa, etc. 

What is Greece Golden Visa?

The Greece Golden Visa program was launched in 2013 with the aim of attracting foreign investment and boosting the country's economy. The program offers various types of visas, including investment visas and residence visas. The investment visas are designed for investors who want to make an economic contribution to Greece from EUR 250,000, while the residence visas are for individuals who want to stay in Greece for an extended period of time.

The Greece Golden Visa program has been successful in attracting foreign investment. Since its launch, the program has attracted over €4 billion in foreign investment and created more than 20,000 jobs.

Benefits of Greece Golden Visa

The Greece Golden Visa offers many benefits to investors. These include:

  • Access to the Schengen area: The Schengen area is a group of 26 European countries that have abolished the need for passports and visas between them. A Greece Golden Visa allows investors to travel freely within the Schengen area for up to 90 days in a 180-day period.
  • Greek citizenship: Investors who hold a Greece Golden Visa for a period of twelve years are eligible for Greek citizenship. This gives investors the right to live, work, and travel in any of the Schengen area countries.
  • Tax incentives: Investors who are granted a Greece Golden Visa are eligible for a reduced tax rate on their income from Greek sources, as well as a tax exemption on any foreign income.There is alternative or lump-sum tax of €100,000 per year on non-Greek income for 15 years. 
  • Access to education: Investors who are granted a Greece Residence Permit are eligible for access to the country's education system. This allows investors to take advantage of the excellent educational opportunities in the country.
  • Low cost of living: Greece is one of the most affordable countries in Europe. This makes it an attractive destination for investors, as it allows them to enjoy a high standard of living at a low cost.
  • Rich culture and history: Greece is a country with a rich culture and history. This makes it an attractive destination for investors, as it allows them to experience the unique culture and history of the country.
  • No requirements on the duration of stay in the country. No minimum stay requirements to maintain and extend the residence permit. 
  • Return on Investment. Option to purchase commercial or residential rental property with an annual return of up to 5%, and a return on initial investment in 5 years.
  • Access to the EU banking system. The right to open and service accounts in reliable class A EU banks.

Requirements for Greece Golden Visa

The following requirements apply for a Greece Golden Visa application submission: 

  • 18 years of age or older; 
  • No criminal record; 
  • A valid passport: All applicants must have a valid passport in order to be eligible for a Greece Golden Visa;
  • Sufficient funds to support oneself: All applicants must have sufficient funds to make the investment;
  • A health insurance policy: All applicants must have a valid health insurance policy in order to be eligible for a Greece Golden Visa;
  • Positive Due diligence conclusion;
  • Purchasing real estate from €250,000, or 10-year lease agreement for a hotel or tourist residence starting at €250,000, or purchase of development or agriculture land starting at €250,000, or securities purchase or deposit of €400,000 into a Greek bank account, or inheritance or a gift acceptance that includes real estate starting at €250,000.

How to apply for Greece Golden Visa

The process of applying for a Greece Golden Visa is relatively straightforward and takes around 6 months. All applicants must first complete an online application form and submit the required documents. 

Once the application for a Greece Golden Visa has been approved, the applicant must complete the remaining steps in order to obtain the visa. These steps include:

  1. Paying the application fee: All applicants must pay the application fee in order to complete the application process.
  2. Attending an interview: All applicants must attend an interview with the Greek authorities in order to prove that they meet the requirements for the visa.
  3. Submission of your biometric data: The applicant visit Greece and register fingerprints and has a photo taken. 
  4. Obtaining a residence permit: Once the applicant has attended the interview and submitted the biometric data, they must obtain a residence permit in order to stay in Greece.
  5. Sending your residence permit card via DHL express: Golden Harbors can pick your residence permit up without your presence and send it to you anywhere. 

The Golden Visa is valid for five years and can be renewed for an additional five years.

What you need to know about Greek Citizenship by Naturalization

Greece Citizenship by Naturalization is available to investors who have held a Greece Golden Visa for a period of twelve years. This gives investors the right to live, work, and travel in any of the Schengen area countries. In addition, investors who are granted Greek Citizenship by Naturalization are eligible for a range of benefits, including access to free education and social security.

To get Greek Citizenship, you have to pass an exam for basic knowledge of the Greek language, live 183 days a year for 12 years and file tax returns for 12 years (i.e. you need to be a Greek tax resident). There is no need to renounce previous citizenship.

The process of obtaining Greek Citizenship by Naturalization is relatively straightforward. All applicants must first complete an online application form and submit the required documents. Once the application has been approved, the applicant will be granted Green Citizenship by Naturalisation.

Ending Note

A Greece Golden Visa can open up a wealth of opportunities for investors. It offers access to the Schengen area, Greek citizenship, and tax incentives. In addition, it is relatively straightforward to apply for a Greece Golden Visa, and the process of obtaining the visa is relatively simple and fast. 

Contact Golden Harbors and apply for your Golden Visa right now.

Greece

Residence Benefits

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Visa-free entry

To the EU and the Schengen Area countries

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Global mobility and freedom

Within 6 months.

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An opportunity to live in any EU country

No residence limits in Greece, and up to 90 days per year in other EU countries

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Global mobility and freedom

Alternative or lump-sum tax of €100,000 per year on non-Greek income for 15 years

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Return on investment

Option to purchase commercial or residential rental property with an annual return of up to 5%, and a return on initial investment in 5 years

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Global mobility and freedom

The right to open and service accounts in reliable class A EU banks

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The clear path to EU citizenship in 12 years

For investors who keep their assets and, as part of the Golden Visa program, get their residence permit extended

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Global mobility and freedom

No need to renounce your existing citizenship in the future when obtaining Greek passport

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No requirements on the duration of stay in the country

No minimum stay requirements to maintain and extend the residence permit

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Global mobility and freedom

Greece

Golden Visa

Processing Time and Terms

Enter your estimated application start date and get a clear timetable for each step.

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1

Sign a service agreement, fill out application forms, and pay the initial service and due diligence fees.

60

We apply you for Greek tax ID (A.F.M.), open a bank account on your behalf and finalize the real estate purchase.

60

We prepare the document package, and your application is submitted to the Greek immigration service.

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Greek government reviews the application and documents and grants preliminary approval

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You visit Greece and submit your biometric data.

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We receive the final decision and send your residence permit card via DHL express.

There are Always Options to EXPAND YOUR BOUNDARIES! Let's Discuss Yours

Every client is unique

Every case requires an individual approach and solution. Our years of experience in the industry allow us to provide both.

We will answer all your questions and provide detailed information about the available second passport and residency programs to help you make the right choice.

Victoria

Lead Attorney at Golden Harbors

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Victoria

Lead Attorney at Golden Harbors

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