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Greece is one of the safest and most friendly countries, always considered a top destination for residency and vacation in Europe. The Greek Golden Visa program provides a low-cost investment pathway to achieve European residency for the entire three-generation family. Below is the detailed process, conditions, and costs of the Greek Golden Visa program to give you a clear view of this residency program.
Greece is a top immigration destination in Europe
Greece is one of the great cultural centers of humanity with a profound influence on the Mediterranean region. With a glorious ancient history, Greece has left many historical, cultural, scientific, and artistic legacies and achievements to this day. Greece’s tourism industry is always in the top 20 destinations worldwide and the top 5 in Europe, with more than 6,000 large and small islands and archipelagos.
In recent years, Greece has consistently topped the list of the most popular residency by investment programs in Europe. Unlike many international residency by investment programs like those in the US, Australia, and Canada, which face processing time issues due to the Covid-19 pandemic, European Union Golden Visa programs are increasingly popular due to the simplicity of passive investment in real estate, government donations, or purchasing project shares.
Additionally, the Greek Golden Visa is relatively affordable, with simple and easily approved application processing, offering high convenience without requiring investors to actively manage a business or reside frequently. Children and families still enjoy the full benefits as European Union residents.
The Golden Visa is a coveted ticket for many
The background and family conditions for applicants participating in the Greek Golden Visa program are as follows:
Applicable for investors over 18 years old, their spouses, unmarried children under 24 years old, and dependent parents of both spouses.
No criminal record in your current country.
Must have health insurance from a Greek insurance company for each family member participating in the program.
Investment costs for the Greek Golden Visa
Investment costs for the Greek Golden Visa can be in the following forms:
A minimum of €250,000 to purchase real estate in Greece, excluding autonomous cities like Thessaloniki, Athens, Mykonos, and Santorini. This amount can be invested in one or multiple properties.
A minimum of €500,000 to purchase real estate in the autonomous cities of Thessaloniki, Athens, Mykonos, and Santorini, from July 31, 2023, onward. This amount must be invested in a single property.
Sign a minimum 10-year lease agreement for furnished hotel rooms or tourist residences in integrated tourist resorts.
Other investment options you can consider include:
A minimum investment of €400,000 in Greek government bonds.
Investment in bonds or shares of Greek real estate investment companies.
Investment in stocks and bonds of venture capital funds and private equity firms headquartered in Greece.
Conditions for participating in the Greek Golden Visa program
The conditions set by the government for investors applying for the Greek Golden Visa program are as follows:
The property must be owned by the investor and remain in the investor’s ownership.
If purchasing real estate through a third party (real estate company/agent), the investor must own 100% of the company's shares.
The lease agreement must be for a minimum of 10 years with a lease amount of €250,000.
The lease agreement must require a one-time payment of the lease amount equivalent to the 10-year lease term.
Investors can renew the Greek Golden Visa residence permit every 5 years. To renew at the end of each 5-year period, investors must meet the specified conditions.
Greece is an ideal destination for many immigrants
The processing time and fees for the Greek Golden Visa can vary depending on the workload of the authorities and the complexity of the submitted documents. Typically, the processing time for a Greek Residency by Investment application can take 8 to 12 months to complete and get approved. A supplementary fee may be applied to expedite the process.
In addition to the investment requirements, the Golden Visa program applies various fees, including application fees, processing fees, and legal fees. The exact amounts of these fees can vary depending on the type of investment and associated services. It is essential for investors to estimate the total costs in detail before starting the application process to avoid surprises later.
Estimated costs when investing in real estate under the Golden Visa program include:
Property transfer tax: Approximately 3.09% of the property value.
Notary fees: Approximately 1 to 1.5% of the property value.
Land registry fees: Approximately 0.6 to 0.8% of the property value.
Payment to the Greek government: Approximately €2,000 for the primary investor and €150 for each additional family member.
Greek health insurance: Approximately €100 for adults and around €80 for children, depending on their age.
Golden Visa application fee: Approximately €300 per person.
Golden Visa renewal fee: Approximately €500 at the time of renewal.
Designated lawyer fees: Dependent on the lawyer and provided services.
Please note that the above figures are estimates and may vary depending on specific circumstances and actual conditions.
Residency by investment program in Greece
The application process for the Greek Golden Visa investment program includes the following six detailed steps:
Consultation and File Assessment with Quốc tich thứ hai: Quốc tich thứ hai’s immigration experts and international lawyers will evaluate your file and advise on the program and the most suitable real estate options.
Contract Signing with Quốc tich thứ hai: Based on your requirements, Quốc tich thứ hai will select the most suitable properties and assist you in visiting these properties in person.
Document Preparation and Investment Funding: You will receive a detailed list and instructions on how to collect the documents. Immigration consultants will check each document to ensure it meets all requirements, including proof of investment in real estate.
Residence Application Submission: The application will be completed by purchasing real estate and related supporting documents, then submitted to the Immigration and Foreign Citizens Directorate.
Application Processing and Receipt of Submission Proof: The application process typically takes about 60 days. Once the application is submitted, you will receive proof of submission, valid for one year, allowing the owner to travel in and out of Greece multiple times.
Receipt of Greek Residence Permit: After the application is reviewed and decided by the Secretary General of the Decentralized Administration Agency, you will be notified of the results. You will then receive a 5-year Greek residence permit, allowing you to live and travel visa-free in the Schengen Area.
Quốc tich thứ hai is a leading provider of residency and investment solutions in Europe, with many years of industry experience. With the continuous efforts of our staff and the trust of our clients, https://quoctichthuhai.com/ has successfully supported over 2000 residency applications, currently achieving a 100% success rate.
Investors interested in residency investment and the costs of the Greek Golden Visa can contact us immediately for the most detailed support and consultation!
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