Launched in 2013, the Greek Golden Visa is one of the most popular EU investment visa programs. Issued to non-EU citizens, this residence by investment program can be secured by those who make a sizeable contribution to the economy of the country. There are numerous investment alternatives, but the most popular is to invest in real estate valued at least €250,000.
The EU’s Golden Visas, issued by member states such as Greece, are highly sought after since they may lead to citizenship and thus lead to access to the European Union. The investor and their immediate family members will be granted five-year residency rights, which can be renewed at the end of the tenure, as well as free travel in the Schengen Zone, making Greece a golden destination for investors.
Greece citizenship by investment – Investment options
You must make one of the following investments to be eligible for a Greece investor visa:
- Purchase a real estate property that is worth a minimum of €250,000
- Sign a contract with a hotel or tourist business for at least ten years.
- Invest a minimum of €400,000 in a company that is duly registered in Greece
- Purchase Greek government bonds worth €400,000
- Make a €400,000 investment in a real estate investment firm’s bonds or shares.
- Deposit a minimum of €400,000 in a Greek bank.
- Invest in corporate or government bonds worth €800,000.
Although it is better to be present in Greece to finalize your purchases in most cases, it is also possible to do so remotely by giving a Power of Attorney to a legal representative.
Securing Greece residency by investment – Eligibility criteria
- The applicant must be at least 18 years of age.
- The applicant must not hold any criminal record
- The applicant should be of good health and possess health insurance from a company operating in Greece.
What are the benefits of the Greek golden visa?
The benefits of the Greece investor visa are many and varied. Perhaps most importantly, it allows the holder to live in Greece without having to obtain a separate visa. Additionally, holders of the Greek golden visa are entitled to travel freely within the Schengen Area – which includes 26 European countries – for up to 90 days. As Greece is a member of the European Union, holders of the Greece golden visa also have the right to reside in any other EU country for up to three months at a time. A few other benefits of securing the Greek golden visa include:
- The threshold investment options are less expensive than those available in most other EU countries with Golden Visa options.
- You may extend your visa to include family members, such as your spouse and unmarried children under the age of 21, as well as dependent parents of either yourself or your spouse.
- After you have purchased a property, you have the option to rent it out.
- You may acquire Greek citizenship after seven years of residence.
How to apply?
To obtain a Greek Golden Visa, you must first apply with the Alien and Immigration Authority of Greece’s Decentralised Authority. You must first apply for an entry visa at one of Greece’s embassies or consulates abroad. The following are the steps required to apply for a Golden Visa:
- Submit an application at a Consulate or Embassy for a Greek national visa.
- Visit Greece and finalize the investment you are interested in. You have a lot of options at this stage, including whether to hire expert legal assistance.
- Collect the documents that are required to apply for the Greek Golden Visa.
- Make sure that the documents are submitted promptly to the local Alien and Immigration Department.
- Wait for the visa to be processed. You should generally hear within three months of submitting your application whether you’ve been accepted.
- If the decision is in your favour, you must return to Greece and provide your biometric information.
- You will be granted a Golden Visa residence permit that will be valid for five years.
Is it the easiest European visa to apply for?
The Greek Golden Visa is certainly one of the easiest European visas to apply for. The requirements are relatively simple and straightforward, and the application process is relatively quick and easy. There are several excellent reasons to consider applying for a Greek Golden Visa, and if you are looking for an easy and convenient way to obtain a European visa, this may be the perfect option for you.
For more information or to apply for your Greek Golden Visa, please feel free to connect with us at Passport Legacy at +971 50 139 5377.