On December 23, 2020, the Greek government revised the Golden Visa Law. The update allows candidates to apply for a Greek Golden Visa without actually visiting Greece. After that, one may expect to receive the “blue certificate,” or temporary residency card, in the post.
What Is Greece Golden Visa?
Enterprise Greece started the Greece Golden Visa in 2013. In return for property investment, the program provides a 5-year residency permit. A family application is for kids under the age of 21 who do not need to live in the nation. If the real estate investment is maintained, the permit is up to 5 years and can be extended every five years.
The Greek authorities grant a Greek resident permit, which allows the possessor to lawfully remain in Greece. That is possible to obtain this by accomplishing a property investment worth more than €250.000. There are many sorts of resident permits in each type, as well as numerous types of residence permits. The sort of permission given determines the type of occupational privileges.
How to Get Golden Visa in Greece?
Non-EU citizens having a clean criminal background, a stable income, and sufficient financial resources to meet the program’s minimum investment criteria, which are:
- Buying a property with a € 250,000 least investment value
- 10 years from the date of signing a lease agreement for hotels or furnished tourist apartments in combined tourist resorts.
- Invested €800,000 in Greek government bonds over 5 years.
- Purchase of €400,000 in bonds or stocks of real estate investment trusts, held for three ( 3 ) years
- Investing in bank deposits of €400,000
These are the basic conditions for Greece’s Golden Visa.
Golden Visa Greece: Benefits
You can find the benefits of the Golden Visa Greece below;
Greece’s Right to Live
You and your family can live in Greece with the Greek Golden Visa. You are not limited in how long you can remain. In reality, there is no necessity for a certain length of stay. This right to reside in Greece also includes access to public education and healthcare.
Visa-Free Travel With Greece Residence Permit
Greece Golden Visa passes freely inside the Schengen area without the requirement for a second visa. The Schengen zone is a collection of 26 European nations that have eliminated visas and border controls at their shared borders.
Low Investment Threshold
Greece has the lowest investment criterion of the European Golden Visa programs. To be eligible for the program, you must make an investment of €250,000 in Greek real estate. During the financial crisis of 2008, the Greek real estate market took a major hit and has been suffering for more than 10 years. The Greek real estate market is predicted to shift in a positive direction by 2022. It’s all going to be thanks to Golden Visa in Greece.
The Treaty on Double Taxation
Your overseas earnings may or may not be liable to taxation in Greece, according to your place of residency and the duration you spend there. In such a situation, you can continue doing business outside of Greece while also getting some rest.
Documents Required for Investment Residency in Greece
The following documents are considered an essential Golden Visa Program application:
- A total of 2 copies of the registration paper is required.
- Four passport-style color pictures taken recently
- A certified true copy of a passport or other travel papers that Greece recognizes.
- A charge that is paid and acquired via the “e-Paravolo” platform.
- For up to a 5 years residency visa, the cost is around €500.
- Payment of a processing charge using the “e-Paravolo” portal.
- The printing of a single document costs around €16. (electronic residence permit)
- A health insurance agency’s verification of the expense of hospitalization and medical services;
- Agreements are written outside of Greece, as long as they expressly state that they include the interested party for the period of their stay in the country.
- Contracts for insurance were signed in Greece.
Officials may ask for further documents in specific instances.
Greece Citizenship by Investment
Golden Visa in Greece is not a citizenship-by-investment scheme. But, if you satisfy certain qualifications, you may be allowed to apply for citizenship in Greece after 7 years.
The following are the prerequisites for applying for Greek citizenship:
- For at least seven years, you must reside in Greece.
- Throughout this time, you must be a tax resident of Greece.
- Take a Greek language test and pass it.
- Have a strong desire to learn more about Greece and its culture.
