Greek Golden Visa: How to Invest in Real Estate and Obtain Residency

Dreaming of a Mediterranean lifestyle, rich history, and the opportunity to reside in Europe? Look no further than Greece’s Golden Visa program. This unique initiative offers foreign investors a pathway to both invest and reside in this beautiful country. In this article, we will provide you with an overview of the Greece Golden Visa program, the benefits it offers, and how you can participate.

What is the Greece Golden Visa?

The Greece Golden Visa is an immigration program introduced by the Greek government in 2013. The program allows non-European Union (EU) citizens and their families to obtain a residence permit in Greece by investing in qualifying real estate. By investing in Greek property, individuals can secure the right to live, work, and study in Greece, as well as travel freely within the Schengen Area.

Benefits of the Greece Golden Visa

Residence and Freedom of Movement

The program grants residency permits to the main applicant, their spouse, and their dependent children up to the age of 21. With this residency right, you can enjoy the benefits of living in Greece and traveling freely within the Schengen Area.

Real Estate Investment Opportunities

Greece offers a variety of diverse real estate investment options, from stunning beachfront properties to historic city apartments. The program requires a minimum investment of 250,000 Euros in residential real estate, making it an attractive and accessible option for investors.

Favorable Taxation

Greece has implemented a favorable tax regime for Golden Visa holders. Income generated outside Greece is not subject to Greek tax, making it an attractive option for individuals with international business interests.

Access to Europe

Acquiring the Greek Golden Visa will provide you with a gateway to Europe. As a Greek resident, you can benefit from the many opportunities available in the EU, such as access to world-class education and healthcare systems.

How to Participate in the Greece Golden Visa Program

Choosing a Qualified Investment Consultant

To ensure a smooth and successful application process, it is advisable to work with a reputable consultant specializing in Greece’s Golden Visa program. They will guide you through the procedure, assist you in selecting suitable properties, and ensure compliance with all legal requirements.

Identify Suitable Property Types

Greece offers a variety of real estate investment opportunities, including apartments, houses, and commercial properties. Take time to explore different areas and consider factors such as location, potential rental income, and capital appreciation prospects.

Conduct Due Diligence

Before making a purchase, conduct thorough due diligence on the property, including checking for ownership titles, permits, and any legal restrictions. Seek assistance from experienced professionals, such as real estate agents and immigration lawyers, to ensure a sound and secure investment.

Submit Your Application

Once you have selected a property, your chosen experts and immigration lawyers will assist you in preparing and submitting your Golden Visa application. The application includes supporting documents, such as proof of investment, valid passports, and health insurance.

Receive Your Residence Permit

Upon approval of your application, you will receive a 5-year residence permit. This permit can be renewed as long as you maintain your real estate investment.

Choosing the Right Property for Investment and Obtaining the Greek Golden Visa

Changes to the Greek Golden Visa Investment Thresholds

Before August 31, 2024: According to the Greek government’s announcement, investors have time to prepare and submit applications under the current investment levels (€250,000 – €500,000 depending on the region) before the new regulations take effect.

After August 31, 2024: The minimum investment amount will increase depending on the region:

• €800,000 for regions such as Attica (including Athens and Piraeus), Thessaloniki, Mykonos, Santorini, and islands with a population over 3,100 (including Crete).
• €400,000 for the rest of Greece.

Potential Real Estate Investment Locations

• Major cities: Athens and Thessaloniki are the two largest cities in Greece, with high rental potential due to the large demand for housing from students, workers, and tourists.
• Tourist areas: Islands like Mykonos, Santorini, Crete, and Rhodes attract a large number of tourists throughout the year, offering opportunities for short-term rental income.
• Emerging areas: Some areas like Peloponnese and Halkidiki are developing rapidly with the potential for future property value appreciation.

Property types

• Apartments: Suitable for long-term or short-term rentals, especially in major cities and tourist areas.
• Houses: Typically have higher values and good appreciation potential, but location and market demand should be carefully considered.
• Commercial properties: Such as hotels, shops, or offices, can generate high returns but require specialized knowledge and management.

Legal considerations

Ensure the property has all legal documents: Such as a certificate of title, building permits, and no disputes.

Check the property history: To avoid potential legal issues.

Investment Potential

Evaluate average rental rates in the area and calculate projected rental yields. Conduct market research and forecast real estate price growth in the region.

Investors should consult with real estate experts for advice on options that align with their investment goals and budget. Work with an attorney to ensure the legality and transparency of the transaction.

Portico and Bridge is proud to be a leading provider of European settlement and investment solutions, based in Malta with nearly 40 years of experience in the industry and 5 representative offices worldwide.

Over the years, through the efforts of the entire staff and the trust of our clients, Portico and Bridge has helped over 1,700 settlement applications to be successful. Currently, the application success rate in Vietnam is 100%.

If you are an investor interested in Greece investment settlement, contact us immediately at 0909 898 758 for the most detailed support and advice!