Greece - Golden Visa Program
In Southern Europe, bordering the Ionian, Mediterranean and Aegean Seas, lies the well-known and spectacular country of Greece. There are gorgeous mountains and valleys filled with fir and pine forests in the North, and oaks, olive and cypress trees in the South. Surrounding Greece, and in abundance, are around 6000 stunning islands, mostly uninhabited. There are many incredible beaches and coastal cities with postcard-worthy views. The beautiful landscape is graced with a temperate Mediterranean climate, which sees warmer temperatures in the Southern most regions. Greece is highly developed with excellent infrastructure and many different modes of transportation, allowing you to fully experience the vast country. Absolutely teeming with history, Greece has many ruins and sites from a robust ancient lineage with a feast for the eyes and the minds of visitors. Arts and culture are world-renowned, touching every part of life, from the warm hospitable Greeks themselves to the healthy and delicious cuisine. From exciting and bustling metropolises to peaceful, nostalgic hideaways, Greece offers a world of experiences within one border.
Greece is a member of the European Union and Schengen States with a parliamentary representative democracy. Greek is the official language with English, German, French and Italian being the most common other languages spoken. While most of the general tax rules are set collectively by the European Union, Greece sets the VAT which is a standard of 24% with reduced rates for food and pharmaceuticals (13%) and tourism facilities (6.5%). There are progressive taxes on personal income but no taxes on foreign income for residents. With the Golden Visa Program, instant permanent residency can be obtained allowing access to all Schengen states. Professionals at IRC can manage your permanent residency in less than 3 months.
Benefits of Greece Golden Visa Program
- Greece is the only EU member state that grants instant permanent residency
- Permanent residency is renewable every five years if investment is maintained
- After 7 years of residency, option to apply for full citizenship
- Full Residency granted to the applicant, their children up to age 21, spouse, and parents
- Visa-free travel to all of the Schengen states
- A relatively quick application process with many options available
- No restrictions on Dual Citizenship
- No minimum presence is required
How to Become a Resident
Making a significant monetary investment in Greece allows applicants to begin the process of applying for permanent residency. Real estate properties can be combined to equal the minimum investment and include other buyers. After a receipt for the purchased property or investment is secured, applicants can then apply for residency to the Immigration Department of Greece. Currently, there are several investment options available:
- A minimum of 250,000EUR residential or commercial real estate investment
- A minimum of 250,000EUR 10 year time share investment in a hotel or tourist residence
- A minimum of 400,000EUR deposit into a Greek bank account for at least one year with renewal
- A minimum of 400,000EUR investment in a Greek company, minimum 3 year government bond, or bonds or shares of a Greek real estate investment company
- A minimum of 800,000 EUR investment in trading government or corporate bonds
Current fees are as follows:
Government, due diligence and Resident Card fees are adjusted to 8% of the total price of the investment purchased. A real estate tax of 3.09%, as well as variable closing costs will apply to real estate purchases.
- Applicants must be 18 years of age or older and have Greek medical insurance
- Applicants must not be engaged in a criminal court case, or be identified as a security or reputational risk
For More Information
For additional information please don’t hesitate to contact the IRC. We provide professional assistance from the beginning to the end of the process and ensure a secure transaction. Additional assistance can be provided to find and acquire real estate.