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The Greek Golden Visa has been available since 2013 for foreigners who invest to boost the Greek economy and receive a golden residency visa. This is a privilege card that allows people to travel freely and stay in EU countries and 28 Schengen zone countries. So, are there any new conditions added to the latest Greek Golden Visa requirements? The following article will provide detailed answers!
The Greek Golden Visa program has garnered significant interest with 7,752 applications (as of November 2023). Aimed at attracting economically strong investors, the latest policy adjustments issued by the Hellenic Republic include:
Supplementary Provisions of the Greek Golden Visa Policy 2024
Increase in Minimum Investment Amount: Real estate investors in Greece have a minimum investment range of 500,000 to 800,000 euros.
Geographical Area Limitations: The increased real estate fees apply only to four areas: Athens, Thessaloniki, Mykonos, and Santorini. The rest of Greece maintains the old fee regulations
Transition Period: Investors can apply the old fee policy of 250,000 to 500,000 euros if they purchase real estate with an upfront payment, sign the contract before September 30, 2024, and complete the investment by December 31, 2024.
Currently, the Greek government has added several provisions to the Greek Golden Visa policy to attract national immigration. Foreign investors need to understand these details to prepare their applications to best meet the conditions.
To obtain the Greek Golden Visa, investors must meet the following mandatory conditions:
Have all necessary documents proving financial capacity and transparent source of funds.
Must be at least 18 years old, in good health, with no criminal record.
Be a citizen of a third country, not an EU or Schengen zone citizen.
Fully pay for insurance coverage of 30,000 euros, valid for the duration of residency in Greece.
When choosing any form of investment under the Greek Golden Visa program, investors can bring their family, including spouse, children (under 21), and parents. The following requirements apply:
Documents proving the dependent relationship with the investor.
Good health and a clean criminal record.
Valid insurance coverage for the duration of residency in Greece.
Understanding the conditions thoroughly will make the visa application process smoother
In addition to the necessary conditions mentioned above, the following binding terms are also required:
Greek Golden Visa investors can purchase real estate with a minimum value of 250,000 euros, including types such as apartments, land for construction, agricultural project development, or renting properties as hotels or accommodations for 10 years.
From July 31, 2023, onwards, if investors are purchasing real estate in areas such as Athens, Attica, Macedonia, or the Aegean, they need to invest at least 500,000 euros.
According to the latest statement from the Greek Prime Minister on March 31, 2024, investors in areas like Attica, Thessaloniki, Mykonos, Santorini, or any island with a population over 3,100 must purchase real estate valued at a minimum of 800,000 euros.
Other areas in Greece still require a minimum of 500,000 euros for high-end, large-area real estate.
Besides real estate investment, you can obtain the Greek Golden Visa by making a minimum fixed-term deposit of 400,000 euros in banks. Alternatively, you can invest in venture capital, purchase Greek government bonds with at least three years remaining to maturity, or contribute capital to establish a company in Greece.
After understanding the conditions for obtaining the Greek Golden Visa, you need to know the steps to participate in the Greek Golden Visa investment program as follows:
Depending on the financial conditions and actual needs of the individual, the investor needs to choose the appropriate form: real estate, bonds, company shares,...
Invest in real estate to operate tourist accommodation in Greece
Obtain a tax identification number for non-resident investors in Greece.
Open a bank account in Greece for convenient transactions.
Issue a power of attorney for a lawyer or legal representative in Greece.
Your lawyer/legal representative will conduct due diligence on the assets you intend to invest in.
After verification, they will proceed with the purchase agreements and notarize the ownership documents in Greece.
Prepare all necessary documents and procedures according to the latest guidelines.
Submit the application and wait for processing. If approved, the applicant will receive the Greek Golden Residence Permit.
The residency period for the Golden Visa is 5 years. After this period, you need to renew the card for an additional 2 years to obtain permanent residency.
Thoroughly preparing the conditions for the Greek Golden Visa will allow you to stay for 5 years
The greatest advantage of the Greek Golden Visa is the opportunity to obtain Greek citizenship after 7 years of studying, living, working, and paying full taxes in Greece.
When you have a residence permit through the Greek Golden Visa, you will enjoy the following legal benefits:
Freedom to travel within 27 European countries.
Opportunities to invest and work in potential sectors such as real estate, tourism, hospitality, food, and agriculture.
Family members receive residence permits for free.
Opportunity to become a European citizen after 7 years.
Low living costs, high quality of life, beautiful natural scenery, and well-cared-for living conditions with many convenient services.
Access to advanced European-standard healthcare and education.
To realize the dream of residing and settling in developed countries around the world, we are the leading immigration consultancy in Vietnam with many outstanding advantages:
Consultation and Processing for Greek Golden Visa at Second Citizenship
Providing consultation services for visa applications, immigration, and residence for thousands of successful cases.
Our team of lawyers and document processing experts has many years of experience and understands the legal procedures and paperwork thoroughly. Additionally, we closely monitor the process of completing investment and immigration applications to minimize errors.
We carry out consulting services, document preparation, and difficult procedure handling in a systematic and professional manner.
We regularly work with immigration departments of various countries to ensure progress, minimize risks for applications, and promptly address arising issues.
Our consulting team is enthusiastic, provides detailed quotes, and accurate information.
If you have any concerns, do not hesitate to contact us immediately for support, processing, and successful completion of your Greek Golden Visa application as soon as possible.
The above information outlines the conditions for obtaining a Greek Golden Visa for real estate investors. To acquire this powerful Greek Golden Visa, you need to invest a minimum of 250,000 to 500,000 euros, along with meeting the additional conditions. If you are interested in learning more about the investment program to receive the Greek Golden Visa, please contact https://quoctichthuhai.com/ for the fastest support with your application!
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