Schinder Consultant London Ltd.
Greece Golden Visa Program
The Country
Greece, the cradle of Western civilization, is immersed in a profound tapestry of
ancient history and a vibrant culture. It proudly hosts the renowned Acropolis, an emblematic ancient monument that stands as a symbol of Europe’s heritage. To the west, one encounters Olympia, the sacred birthplace of the Olympic Games, and the ancient Mycenaean citadel, Mani.
Dancing across the Aegean Sea are islands of unparalleled allure – Sporades, Rhodes, Mykonos, and Santorini – whispering tales of glory beneath the effulgent sun. In this celestial realm, sunlit days seamlessly weave through an eternal expanse of azure skies and sparkling seafoam. Here, pristine sandy beaches, as white as the driven snow, cradle verdant palm trees that sway gracefully in the zephyrs of a timeless breeze.
Embrace the allure of Greece as you traverse ancient Byzantine paths, ascend volcanic landscapes, engage in captivating swims with dolphins and sea turtles, or venture into lush forests. Greece unfolds as the ultimate odyssey, inviting you to explore its diverse landscapes and bask in the magic of its rich history and natural beauty.
The Program
In the year 2014, Greece initiated a groundbreaking program aimed at bolstering its national economy by enticing investors from non-EU countries through the provision of a sought-after “golden visa.” Distinguished for its appeal, this program stands as one of Europe’s most attractive, offering investors the opportunity to obtain a residence permit at a notably modest cost, setting it apart from many analogous initiatives across the continent.
Renowned for its modest minimum investment requirement, the Greek “golden visa” program not only provides an accessible entry point but also grants investors the comprehensive advantages associated with European Union residency. These benefits encompass an elevated standard of security, unparalleled educational prospects, state-of-the-art healthcare facilities, and robust legal safeguards. In essence, this initiative serves as a conduit for investors to seamlessly integrate into the European Union, unlocking the doors to a secure, well-rounded, and globally connected lifestyle.
Essential Program Criteria
- Acquisition of real property with a minimum appraisal of EUR 250,000, to be retained for no less than 5 years And
- Procurement of valid medical coverage in Greece
Stating from August 1st, 2023, the regions of Athens Central/North/South, Thessaloniki, Mykonos, Santorini, and Paros are open to Golden Visa applicants with a minimum investment threshold of EUR 500,000.
Primary Advantages
- Moderate financial commitment (acquisition of real property with a minimum valuation of EUR 250,000)
- Potential for supplementary earnings from invested capital
- Permission to dwell in Greece without constraints
- Granting of a residency license in Greece not only for yourself but also for your spouse, offspring, and reliant parents
- Travel to all Schengen nations without a visa
- Entitlement to petition for Greek citizenship following a 7-year residency in the nation
- Uncomplicated application procedure with reasonably swift processing durations (averaging about 3 months)
Vital Information
- A single obligatory visit to the country is necessary to secure a residence permit before document submission. Subsequent actions, including routine permit extensions, can be conducted from a distance.
- The maximum processing time for residence permit issuance is 60 days, but the benefits of holding a residence permit can be availed immediately upon confirmation of document acceptance.
- Renewal of the residence permit is possible every five years, without the requirement for a personal visit to Greece for extension. There is no set limit on the number of extensions.
Refined Application Process
- Property Investment Selection
Opting for property investment remains the most common avenue to secure a residence permit. This could involve acquiring a residence, apartment, or engaging in long-term leases for commercial real estate. Additionally, the program allows for the purchase of land or investment in construction. The acquisition of real estate or related rights through a legal entity owned by the investor is also permissible. To initiate the application, providing a valid sales contract is imperative. Furthermore, the acquired real estate holds the potential to be leased or utilized to generate income. - Visiting Greece
Entrance to Greece can be facilitated through a special invitation issued by authorities. A mandatory personal visit is required for the submission of biometric data. If needed, this visit also serves to appoint authorized representative(s) in Greece. These representatives are empowered to conduct all subsequent actions on behalf of the applicant without necessitating their physical presence. - Application Submission
Once all requisite documents are assembled, the applicant has the option to submit the application either in person or through a designated representative. Subsequent to submission, an expeditious issuance of an official certificate, equivalent to a 1-year residence permit, takes place. Consequently, from the moment of receiving the certificate, the applicant gains unrestricted entry and residence in Greece, or they can freely depart the country without any limitations. - Processing Applications and Obtaining the Residence Permit
Upon completion of the thorough processing and review of application documents by the Greek immigration authority, with a maximum processing time of 60 days, the applicant will be granted a residence permit valid for a 5-year duration. Notably, this permit holds the flexibility of unlimited extensions, irrespective of whether the applicant resides in Greece or another country (or countries). - Residence Permit Application for Dependent Family Member
The applicant’s family members have the opportunity to obtain a residence permit both at the same time as the applicant or at a later time, during their next visit to Greece. They will also need only one personal visit to the country to apply. - Completion
Upon the successful completion of the process, the applicant and all eligible family members can fully embrace the privileges associated with Greek permanent residence. This encompasses unrestricted movement within all European Union (EU) and Schengen countries.