The Greece Golden Visa Program is one of the most popular residency-by-investment programs in Europe, offering non-EU citizens the opportunity to obtain permanent residency in Greece through a variety of investment options. This visa provides a pathway to live, work, and study in Greece, with the added benefit of visa-free travel within the Schengen Zone.
Key Features
- Permanent Residency: Grants a five-year residency permit, renewable indefinitely as long as the investment is maintained.
- Schengen Access: Visa-free travel to all Schengen countries for 90 days within a 180-day period.
- Family Inclusion: The visa covers the applicant, their spouse, children up to the age of 21, and dependent parents.
- No Minimum Stay Requirement: There is no requirement to reside in Greece to maintain or renew the residency permit.
- Citizenship Pathway: Possible after seven years of residency, subject to meeting eligibility criteria, including Greek language proficiency.
Overview of Investment Visa Streams
Real Estate Investment
Capital Investment
Investment in Strategic Projects
Investment in Greek Companies
Real Estate Investment
- Purpose: Encourages investment in Greek real estate.
- Eligibility:
- Minimum investment of €250,000 in residential or commercial property.
- Duration: 5-year residency permit, renewable indefinitely.
- Others: Ownership of the property must be maintained to renew the permit.
Capital Investment
- Purpose: Attracts foreign capital into Greece’s financial and business sectors.
- Eligibility:
- Minimum investment of €400,000 in Greek government bonds, shares, or deposits in Greek banks.
- Duration: 5-year residency permit, renewable indefinitely.
- Others: Investment must be maintained for the duration of the residency.
Investment in Strategic Projects
- Purpose: Supports significant projects that contribute to Greece’s economic development.
- Eligibility:
- Minimum investment determined on a case-by-case basis by Greek authorities, typically around €500,000.
- Duration: 5-year residency permit, renewable indefinitely.
- Others: Project must be approved by the Greek government.
Investment in Greek Companies
- Purpose: Promotes investment in Greek businesses.
- Eligibility:
- Minimum investment of €400,000 in a Greek company, either through equity or bonds.
- Duration: 5-year residency permit, renewable indefinitely.
- Others: The investment must be maintained for the duration of the residency.
General Eligibility Criteria
- Minimum Investment: Varies by investment type (e.g., €250,000 for real estate, €400,000 for financial instruments).
- Clean Criminal Record: Applicants must provide a police clearance certificate from their country of origin.
- Health Insurance: Proof of health insurance covering the applicant and their family members.
- Investment Maintenance: Investments must be maintained to renew the residency permit.
Required Documents
- Valid Passport: Copies of the applicant’s passport and those of dependents.
- Proof of Investment: Documentation proving the source and transfer of investment funds.
- Income Evidence (if applicable): Proof of income from abroad, depending on the investment stream.
- Police Clearance Certificate: Issued by the applicant’s country of origin.
- Medical Insurance: Proof of health insurance covering all family members.
- Property Title Deeds (if applicable): For real estate investments, proof of property ownership.
Application Process
- Select an Investment Stream: Choose the appropriate investment option, such as real estate, capital investment, or strategic projects.
- Prepare Documentation: Gather all required documents, including proof of investment, income, and identity.
- Submit Application: Applications can be submitted to the relevant Greek authority or through a legal representative in Greece.
- Investment Commitment: Complete the investment process after receiving approval in principle.
- Receive Residency Permit: Upon confirmation of the investment, the five-year residency permit is issued.
Cost (Approximate)
| Visa Type | Application Fees | Investment Amount | Additional Costs (Legal, Admin, etc.) |
|---|---|---|---|
| Real Estate Investment | €2,000 – €3,000 | €250,000 | €10,000 – €20,000 |
| Capital Investment | €2,000 – €3,000 | €400,000 | €10,000 – €20,000 |
| Strategic Projects | €2,000 – €3,000 | €500,000 | €10,000 – €20,000 |
| Investment in Greek Companies | €2,000 – €3,000 | €400,000 | €10,000 – €20,000 |
Visa Processing Time (Approximate)
| Visa Type | Processing Time |
|---|---|
| Real Estate Investment | 2-3 months |
| Capital Investment | 2-3 months |
| Strategic Projects | 2-3 months |
| Investment in Greek Companies | 2-3 months |
Key Points to Remember
- Investment Maintenance: The investment must be maintained for as long as the residency permit is valid.
- Family Coverage: The visa covers the primary applicant, spouse, dependent children, and parents.
- Citizenship Pathway: Permanent residents can apply for Greek citizenship after seven years of residence.
Conclusion
The Greece Golden Visa Program is an attractive option for investors seeking permanent residency in a European Union country with access to the Schengen Zone. With a range of investment options, from real estate to strategic projects, the program offers flexibility and a clear pathway to citizenship. Greece’s rich culture, favorable climate, and strategic location make it an ideal destination for global investors.
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