Golden visa is residency by investment into that particular country. Greece introduced this program for non EU citizens in 2013. So any foreigner can now be a resident in the country by way of investment.
Benefits of golden visa greece
- Travel within the Schengen Area of Europe without a visa
- It is not necessary to live in Greece
- Permits for residence can be obtained in 30–60 days.
- Residence permit has an indefinite expiration date
- Possibility of leasing the investment property
- Suitable residence for the entire family (married spouse, children under 21 years old, and parents of the main applicant and spouse)
- After seven years of residence, the ability to petition for citizenship
- Possibility of owning shares and earning money through dividends of a Greek company (but not to be employed in Greece)
How to acquire the golden visa
real estate options
- A purchase of property for investment purposes with a minimum value of EUR 250,000 plus any applicable taxes
- A 10-year lease contract for hotel rooms or furnished holiday homes in resort complexes (Article 8 of Law 4000/2001)
- A time-sharing arrangement lasting ten years for hotel lodging (Law 1652/1986)
- With the exception of portfolio investment companies and real estate investment companies, a capital contribution to a company with its registered office or establishment in Greece with a minimum value of EUR400,000 for the purchase of shares in a share capital increase or bonds that are, at the time of issue, permitted for trading on regulated markets or multilateral trading mechanisms that operate in Greece.
- A minimum capital beneficiation of EUR 400,000 must be made to a real estate investment company (Article 21 of Law 2778/1999), which will only invest in Greece, in order to purchase shares in a share capital increase.
- a capital contribution of at least EUR 400,000 made to a closed-end investment company (Article 5 of Law 2367/1995) or a closed-end mutual fund (Article 7 of Law 2992/2002) for the purchase of shares, provided that the aforementioned alternative investment institutions intend to invest only in businesses with Greek headquarters or establishments.
shares/ bonds/ government bonds
- Acquisition of Greek government bonds through a Greek credit institution that will also serve as the bonds’ custodian, with a minimum purchase value of EUR 400,000 and a remaining maturity of at least three years at the time of purchase.
- Purchase of Greek-operated shares or corporate bonds with a minimum acquisition value of EUR 800,000. These securities must be admitted to trading or traded on regulated exchanges.
- Purchase of units in a mutual fund with a minimum value of EUR 400,000 with the intent to invest solely in shares, corporate bonds, and/or Greek government bonds that are admitted for trading or traded on regulated markets or multilateral trading mechanisms operating in Greece. The mutual fund can be incorporated in Greece or another nation.
- Acquisition of units or shares of an alternative investment fund created in Greece or another EU nation with a minimum purchase value of EUR 400,000 and with the sole purpose of investing in real estate in Greece.
A term deposit of at least EUR400,000 for at least a year with a standing order for renewal with a domestic credit institution.
who is eligible for golden visa?
In order to qualify for a Greek Golden Visa, you must:
- One needs to be 18 years or above.
- You must not have a criminal background in any of the countries you’ve lived in.
- Greece requires a substantial investment from you (see the investment options above).
- You must have purchased health insurance.
To find out if you qualify for the Greek Golden Visa Scheme, you are welcome to request a free consultation from the professionals at Advision Overseas. If you are, we can assist you with both the Greek visa application process and the acquisition of the investment.