The Greece Golden Visa which was launched in 2013, is one of the most affordable, popular and competitive investment visa programs in the EU.
The duration of this type of Residence Permit is 5 years and it can be renewed indefinitely (for a 5-year period each time), provided that property investment is retained. The investor will still have the right to renew the permit even if will stay outside Greece without any visits.
In September 2022, the Greek Prime Minister announced that the country would increase the investment amount from €250,000 to €500,000 in specific regions. Applicants investing in the regions that will be affected and who will proceed with the payment of a 10% deposit on the property value before 31/07/2023, they will be able to apply under the €250,000 scheme.
Golden Visa holders can travel visa free to all Schengen Countries and some of the EU countries which are not part of the agreement.
The residency program is available also to the close family members of the investor. Under the same investment, the spouse or registered partner (if partnership was registered in Greece), unmarried children under 21 years old, the investor’s parents of any age and the children of the spouse (if they are unmarried and under the investor’s custody), can acquire the residence permit.
Holders of the Golden Visa, can become tax residents of Greece and pay a fixed annual income tax of €100,000 for 15 years, instead of paying to 45% of the tax on global income. Close family members included in the application, can also take advantage of the rates and pay €20,000 per year. However, to become tax resident an investor has to spend more than 183 days a year within the country.
Right after the acquisition of the property, the investor can start renting the property and receive passive income.
Furthermore, Golden Visa holders can obtain the Greek Citizenship by naturalization, by continuously residing in Greece for at least 7 years and by establishing close ties with the country and the Greek community.
If you are interested to take advantage of the above program and the many benefits that it has to offer, our team of experts can guide you through the whole process by arranging the viewing of the properties and assisting with the residency application from A to Z.
(The content of the above information is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.)