Greek Residency Golden Visa Services

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Greek Residency Through The Golden Visa Program

 

Do you want to enter the European Market?
The Greece’s Permanent Residence Scheme/Program is one of the most attractive residence scheme currently available to non-European investors seeking to enter the European Market.

Our Golden Visa Services team is composed of lawyers, tax advisors and in-house accountants serving a significantly big client base from abroad and we are ready to support you holistically.

Key Facts of Greek Residence Permits

 

The Greek golden visa programme launched in July 2013 and grants a five year residency visa in return for an investment in real estate. There is no minimum stay requirement and children up to the age of 21 are included in the family application. The visa is granted for five years and renewed every five years if the property investment is retained. It is not necessary to live in the country in order to retain and renew the investor visa.Expanding Residence Permit for three more years can be received by the children, when reaching 21 years of age by submitting the previous Residence Permit. However, citizenship can only be granted after seven years of residency.

  • Investment in property from €250,000.
  • Full family residency (spouse/partner, children up to 21, mother/father and their spouses/partners).
  • No requirement to reside.
  • EU Schengen visa travel.
  • Citizenship requires residency.

Investors in real estate in Greece must also take under consideration the additional taxes on real estate:

  1. Real estate transfer tax (ΦΜΑ) 3% payable by the buyer or VAT (ΦΠΑ) 24% payable by the buyer on newly built properties (suspension decision is issued, it is valid until 31/12/2022).
  2. Capital Gains Tax (ΦΥΑ) payable by the seller (suspension decision is issued, it is valid until 31/12/2022).

Despite this at €250,000 + taxes and fees (just over €300,000 in total) this programme the lowest cost to residency in Europe.

Investment

An investment of at least 250.000 € in real estate property in Greece is required. The property can be located anywhere in the Greek mainland or on the islands and it can be residential or commercial.

A number of properties can be combined in order to make up of the 250.000 € minimum investment. It should further be noted that a new announcement is expected about the required investment capital.

Process

The application process takes approximately 3 to 6 months from the time of investment to be completed and for the Residency Permit to be issued. The applicant is necessary to purchase the property prior to applying for the visa. Once a property has been selected, our experts, lawyers and tax consultants will take care of the application process, conveyancing and other legal and bureaucratic work concerning the property.

The investor(s) might need a few meetings with our experts firm, a week visit to Greece to review their selected and preferred properties, meet with our consultants and open a bank account. The procedure can be processed by our company under the Power of Attorney.

Requirements

The Greek residency applicants is prerequisite to have a clear criminal record and medical insurance to cover any stay in Greece. No minimum stay is required. The Greek residency visa can be renewed after five years under the condition that the investment is maintained.

Fees

Government, notary, accountant and lawyer fees for the property purchase and Greek Residency/visa application can cost up to €15,000.

Family - Career

The Greek Residency Program allows the applicant’s family to apply for Greek Residence. After the permanent residence permit is issued, the investors along with their families (spouses, their children and parents of the spouses) will be able to live in Greece if they desire.

Taxes - Obligations

The Greek residents pay taxes on their income in Greece. Then Non-residents in Greece pay taxes on income earned in Greece but not on income earned outside the country.

Travelling

Travelling in Europe and the Schengen zone has become easier and more convenient for those that come from countries in the Middle East, Asia and Africa.

After the VISA is issued, the investors can travel inside the EU and the Schengen zone. The Greek Residency – Golden Visa holders are able to travel to an extensive list of countries all over the Europe.

Alternatives

However, there are also other ways to acquire the Golden Visa:

  • At least one-year forward deposit of 400.000€ in a bank account.
  • Purchasing of 400.000€ in Greek Government bonds with three-year engagement.
  • Acquisition of 800.000€ in shares and corporate bonds or Greek Government bonds.
    as well as in other ways.

Life-Style Benefits of Greek Residence Permits

 

  • A pleasant climate and hospitable English-speaking people.
  • A peaceful and safe way of life.
  • A rich cultural and historical heritage.
  • Freedom of movement into & out of Greece.
  • Easy repatriation of capital & income out of Greece.
  • Excellent & safe banking center with the presence of major international banks.
  • Excellent access by Sea and International Airports.
  • A crossroad of three continents.

Frequently Asked Questions

 

What advantages do the holders of a residence permit, have in Greece?

  • The holders of the residence permit can reside in Greece during the entire period of validity of the residence permission.
  • They can travel to every country of the Schengen area – They have access to the public health and education services, same as the Greek citizens.

Golden visa lasts for 5 years and it may be renewed perpetually for an equal period each time provided that the real estate remains in the ownership of the third-country national.
Golden visa holders are now entitled to apply for greek citizenship after 7 years of residence in Greece.
The amount of €250.000 is referring to one only property?

No, the investor could buy one property or more, which their total value exceeds the amount of €250.000.

Do the holders of residence permit have the right of employment in Greece? No, but they can be entitled as a shareholders, members of a management board of a company or the Managing Director.

Why Greek Golden Visa?

 

You can compare the real estate immigration programmes for GreeceCyprusSpain and Portugal and see by yourself why to choose Greek Golden Visa over the programmes of other countries.

Greece Cyprus Spain Portugal
Schengen Country yes no yes yes
Free travel to Schengen Area yes no yes yes
Minimum Investment (€) 250000 300000 500000 500000
Compulsory period of staying no yes yes yes

Consulting & Support Services

Phase 1: Primary Consultancy on Greek long term Residency Program
Our support normally begins with consulting sessions before your first visit. We give you all the necessary guidance and consulting on the preparation and essential paperwork to bring with them as well as send over some property options. You can either want to acquire the Long term Visa either as a person or as an entity. We provide you with the necessary information about this.
Phase 2: Before the acquisition of the property
  • Evaluation of the property
  • Legal and Engineering Due Diligence
  • Tax Budgeting for the property

We can help you check the property that you want to invest in Greece that will provide you with a Golden Visa. We provide you with due diligence checks by our legal and engineering team and engineers.

Phase 3: Completion of the procedures of Property Acquisition
  • Bank Account Opening Services
  • Notarial Services
  • Legal Services
  • Tax Services
Phase 4: Issuance of the long term European Residence Permit
  • Documents Collection
  • Visa Application Submission
  • Issuance of Golden Visa

We help international investors all the way through to issuing residence permits. We accompany you to the Bank and Tax office for the necessary formalities and then submit your application and collect your Golden Visa once it is issued.

Phase 5: After Visa Acquisition Support
  • Tax Consulting
  • Tax Filing
  • Business Consulting
  • End to end Business entity support (when it comes from an investment through a business entity).

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Do you want to enter the European Market?