A Golden Visa allows individuals to obtain residence or citizenship.
Greece Golden Visa – How to Get Permanent Residency and Citizenship
The Golden Visa for Greece is one of the most popular investment visa programs in the EU. It is a residence-by-investment visa, issued to non-EU citizens who make a significant contribution to the Greek economy. There are several investment options, but the most common route is through purchasing real estate worth at least a quarter of a million.
Golden Visas issued by the EU Member States such as Greece are especially coveted, as they may eventually lead to citizenship and thus access to the EU.
The Greece Golden Visa offers immediate five-year residency to the investor as well as their immediate family members, as well as free travel in the Schengen Zone.
Who Is Eligible for a Greece Golden Visa?
Eligibility criteria for a Greek Golden Visa are:
- You must be over the age of 18.
- You must not have any history of criminal records, in any country in which you have lived.
- You must make a significant investment in Greece (see the investment options below).
- You must have obtained health insurance from a company operating in Greece.
Investment Options for the Golden Visa for Greece
To qualify for a Golden Visa for Greece, you must make one of the following investments:
- Purchase a real estate property worth at least €250,000
- Sign a lease agreement with a hotel or tourist establishment for at least 10 years
- Make a capital investment of at least €400,000 in a company registered in Greece
- Make a €400,000 investment in Greek government bonds.
- Make a €400,000 investment in bonds or shares of real estate investment companies.
- Make a €400,000 deposit in a Greek bank.
- Make an €800,000 investment in corporate or government bonds.
Benefits of the Greek Golden Visa
A Greek Golden Visa is one of the most competitive Golden Visas in the EU and is accompanied with the following benefits:
- The threshold investment options are relatively lower than in most other EU countries with Golden Visa routes.
- You can extend the visa to include your family members, like your spouse, (unmarried) children under 21 years of age, and dependent parents of either yourself or your spouse. If your child is over the age of 21, but no older than 24, and they are a student, they may also be included in the Golden Visa application.
- You and your family members will enjoy visa-free travel to the Schengen Zone.
- There are no requirements to live in Greece for any duration in order to renew the residence permit.
- You can choose to rent out your property after purchase.
- You can apply for Greek citizenship after seven years of residence. Greece is an EU Member State, so you would have access to the EU free market and visa-free travel to more than a hundred countries.
- You can live and invest in Greece.
- You have access to Greek education and healthcare
Duration of a Greece Golden Visa
The Golden Visa for Greece is issued for five years and can be renewed indefinitely as long as you maintain the investment.
If you ultimately choose to live in Greece, then after seven years of continuous residence, you can also apply for Greek citizenship.
How Long Do You Need to Live in Greece to Renew the Golden Visa?
Unlike most other countries that issue Golden Visas, you do not need to live in Greece at all in order to renew the residence permit. You can keep renewing it every five years, as long as you have still maintained your investment.
To renew the residence permit, you have to provide proof that the real estate property is still in your ownership or a solemn declaration by the relevant representatives that the investment is still ongoing.
Can You Get Greece Citizenship by Investment?
Yes, you can become a Greek citizen by making an investment in Greece and obtaining a Golden Visa. However, unlike residency, you cannot apply for Greek citizenship without actually living there and paying taxes. You must live in Greece for at least seven years before being eligible to apply for citizenship.
In addition, you must also be able to prove you have ties to the country and knowledge of the Greek language and culture, at least on a basic level.