Greece Golden Visa

Eligibility Criteria

To be eligible for a Greece Golden Visa, applicants must meet certain criteria:

• Be a non-EU/EEA foreign national interested in investing in Greece OR a non-EU/EEA company executive involved in the implementation and/or operation of an investment project
• Prove they are at least 18 years old.
• Be in Greece legally under one of the following categories:
  • Hold a national visa (Type D) issued for investment purposes (valid for up to one year)
  • Legally reside in Greece with a definite residence permit or a visa 
  • Legally reside in Greece with a residence permit granted by another EU Member State
  • Legally reside in Greece with a long-term residence permit (2003/109/EC) granted by another EU Member State
    
• Be in good financial standing and possess the minimum investment amount
• Pass the due diligence process and be of good moral character
• Have a clean criminal and professional record
• Be able to sustain themselves and any dependents for the duration of their residency
• Be able to maintain the investment amount for the duration of  their residency
• Prove the investment money was acquired lawfully
• Be able to obtain all required documents for the Golden Visa application
• Possess valid insurance certified by the national insurance agency 

Investors can include dependents in their application provided they fall into one of the following categories:

• Spouse
• Partner with whom the applicant has entered into a registered partnership in Greece or before the competent Greek Consular Authority
• Unmarried children under the age of 21
• Unmarried children of the dependant or his/her spouse or partner under the age of 21, provided that the right of custody has been legally granted to the applicant and to their spouse or partner for their own children 
• Direct first-degree ascendants of the spouses or partners. They are granted residency under family reunification and are not permitted to engage in employment in Greece.

Investment Options

The Greece Golden Visa program offers several investment options for applicants to select from. These options include the construction of new facilities, business acquisitions, the expansion of current projects, and real estate investment, provided it contributes to the growth of the national economy.

The following are the official options for investors in the Golden Visa program:

• Invest in real estate at a value of at least €250.000 (or €500.000 in 36 selected Greek municipalities).
• Sign a lease agreement with a hospitality establishment (hotel, restaurant, spa, etc.) at a value of at least €250.000. The lease agreement must be valid for a period of at least 10 years.
• Invest at least € 400,000 in an alternative investment fund based in Greece or another EU Member State that invests in permanent property in Greece.
• Invest at least €400,000 in Greek government bonds through a Greece-based credit institution. The bonds must have a maturity of at least three (3) years from the date of purchase.
• Invest at least € 400,000 in the acquisition of shares in share capital increase or bonds that can be traded on regulated markets or multilateral trading mechanisms based in Greece.
• Invest at least € 400,000 in a mutual fund incorporated in Greece or another country. This investment must be intended for corporate bonds, shares, or Greek government bonds.
• Invest at least € 800,000 in corporate government bonds that can be legally traded or are traded on regulated markets or multilateral trading mechanisms based in Greece.

Each investment option has unique benefits for the investor. Real estate purchases can provide additional income through rental agreements and property appreciation if the investor decides to sell later on. Lease agreements with hospitality institutions can be very lucrative in a country as popular with tourists as Greece. Investments in government or corporate bonds can provide high returns on the initial investment and require minimal interference from the investor. In addition to the minimum investment, investors will pay the administrative fees for the Golden Visa program. First, they must pay the fee for the national entry visa which is €180. There is also a €2000 fee to process the five-year residence permit. At the time of renewal, investors and company executives will pay another fee of €2000, as well as an additional €150 for their dependents. This fee does not apply to dependents under 18 years old. Lastly, there is a €16 fee for the issuance of the electronic residence permit.

Benefits of the Greece Golden Visa

Holding a Greece Golden Visa is very advantageous to the investor or company executive, and their dependents. Here are some of the key benefits of obtaining a Greece Golden Visa:

The Greece Golden Visa program serves as a stepping stone to permanent residency in Greece and, eventually, citizenship. After five years of holding a Golden Visa, investors can apply for permanent residency. This status grants them all residency rights apart from the right to vote. Permanent residency is a more stable and secure means of residing in Greece.

After holding continuous residency in Greece for seven (7) years, investors are eligible to apply for citizenship provided they meet any eligibility requirements such as language proficiency, integration, or national commitment.

Required Documents for Greece Golden Visa Application

All applicants for the Greece Golden Visa and subsequent renewals must submit several required documents that are complete and verified by the necessary authorities.

The following documents are required of all Golden Visa applicants for the various stages of application:

Initial Application

*Company executives must also submit their contract of employment.

**Family members/dependents must submit a declaration of their marital status, if applicable.

Investment Verification

Greece Golden Visa and Naturalization Pathway

The Greece Golden Visa can serve as a stepping stone on the path towards citizenship through naturalization. Investors and their family members can obtain citizenship after maintaining continuous residency for seven (7) years. They can obtain their initial residency permit for five (5) years which can be renewed for the same duration. After seven (7) years, they can transition from the Golden Visa to full Greek citizenship with bestows them with all the rights and privileges of all Greek citizens, not to mention all the benefits and travel mobility of holding an EU passport.

In order to transition from Greek citizenship applicants must meet all the eligibility criteria. First, they must have held continuous residency for at least seven (7) years and have held a Golden Visa during that time. There are additional naturalization requirements. Applicants must have a basic grasp of Greek and be able to demonstrate their knowledge of Greek society and ability to integrate. They must also have maintained a clean criminal record for the duration of their residency in Greece.

There are many advantages to obtaining Greek citizenship. First, applicants will hold Greek passports giving them the same mobility as all EU nationals. They can live, work, and study in any EU Member State and travel to a huge list of international destinations. Greek citizenship will also allow holders to access more visa-free and visa-on-arrival destinations. This will allow them to expand their business and professional opportunities as well as their travel mobility for tourism. Greek passport holders can also vote and actively participate in political and social change throughout the EU.

The application process for Greek citizenship is fairly straightfoward for Golden Visa holders. First, they must submit their application to the Ministry of Interior. The application must show proof of continuous residency in Greece for at least seven (7) years. They must also include the required documents including proof of their Greek language proficiency and knowledge of Greek society. If the application is approved, they will be able to obtain a certificate of citizenship and, eventually, a passport.

Of course, holding a Greece Golden Visa residence permit is not the same as having Greek citizenship. The Golden Visa allows the holder to live in Greece and invest in the local economy, but does not mandate certain obligations that full citizens have like certain taxes. The Golden Visa is a launching pad for investors to access better business opportunities and an improved quality of life, while Greek citizenship opens up doors to become an active member of Greek society and a participant in EU politics and governance.  The travel mobility is less with a Golden Visa as well. It gives the holder access to the EU, but not as many international destinations as full citizenship. The Golden Visa is a great, flexible option for investors to start with before they decide whether they want to commit to full citizenship, which may, for some nationalities, involve giving up their original passport.

Living in Greece

Life in Greece means more than 300 days of sunshine and gorgeous weather nearly all year. Holders of the Golden Visa residence permit are not obligated to reside in Greece, but they might consider spending more time there once they visit! There are exquisite beaches, stunning mountains, and vibrant cities dotted all over the Greek islands. As a popular tourist destination, Greece is very hospitable to foreigners and has excellent infrastructure to accommodate new residents. Anyone living in Greece can benefit from the limitless opportunities for leisure, outdoor sport, nightlife, and relaxation.

Greece has long been known as a picturesque destination with unbeatable natural landscapes and a long, very rich history. Residents can experience ancient history and futuristic innovation in the same small country. Today, Greece is a popular investment destination because of its strategic location and the varied topography that supports a huge range of commercial activities. Due to its proximity to the Middle East and Europe, Greece has a robust trading economy that arracts businesspersons of all kinds.

One of the best parts of living in Greece is being able to choose from a variety of incredible natural topographies from gorgeous islands to some of the most famous mountain ranges in Europe. These natural features are amazing to visit on their own and also accommodate outdoor activities and sports such as hiking, water skiing, camping, cycling, and much more. Greece is also a popular sailing and boating destination.

For a more urban experience, residents can head to some of Greece’s bustling cities like Athens and Thessaloniki for the excellent nightlife that is blended with a long history of hospitality. Traditional music and food can be experienced side-by-side with brand new restaurants and clubs.

Once of the more practical benefits of holding a Greece Golden Visa is having access to the country’s excellent EU-standard healthcare system. Greece’s healthcare sector is very internationally friendly and many of the physicians, nurses, and specialists speak English. The National Health Service is well organized and there are private providers for patients who need specialist care. Residents who eligible for employment may be able to choose complementary private healthcare coverage through the National Social Security System.

In addition to healthcare, Golden Visa holders and their dependents can also benefit from the wide range of educational opportunities. This is especially important for investors with kids who plan to attend school or university in Greece. There are elementary, high school, and university programs that cater to foreign nationals speaking English, French, German, and other languages. Students can access the International Baccalaureate (IB) track which has a precedent for getting students placed at good international univerities.

There are also plenty of opportunities to experience the Greek culture from art museums to ancient ruins. Greece is the birthplace of many aspects of Western civilization and therefore has some of the world’s best archaeological sites and museums where the country’s heritage can be experienced first-hand.

Living in Greece is very accessible to foreign residents and is known for being affordable and easy to navigate. Living costs tend to be lower than other EU countries and transportation is accessible. The local cuisine comes from a long tradition rooted in local agriculture. Residents can enjoy all the best of the Mediterranean offerings, from the local cuisine and meat to world-class olive oil.

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