| 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:
- 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).
- 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.
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.
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.
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.
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 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.
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?
– 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?
WHY GREEK GOLDEN VISA?
You can compare the real estate immigration programmes for Greece, Cyprus, Spain and Portugal and see by yourself why to choose Greek Golden Visa over the programmes of other countries.
|Free travel to Schengen Area||Yes||No||Yes||Yes|
|Minimum Investment (€)||250,000||300,000||500,000||500,000|
|Compulsory period of staying||No||Yes||Yes||Yes|
| Consulting and Support Services
REAL ESTATE SERVICES
BANK ACCOUNT SERVICES
| OUR SERVICES
How can we be of assistance?
Phase 1: Primary Consultancy on Greek long term Residency Program
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
End to end Business entity support (when it comes from an investment through a business entity).