─── GREECE ───
PROGRAM OVERVIEW
I GREECE RESIDENCY LAW
On April 18, 2013, Greece enacted Law 4146/2013, enabling Non-EU citizens and their families to obtain Residency Permits through investment in Greek real estate. This provision was incorporated into the broader framework of Law 3386/2005, which governs the entry, residence, and integration of third-country nationals in Greece. As outlined in Article 36A of the law, Non-EU nationals who invest in Greek real estate valued at over 250,000 euros are eligible to receive a five-year residency permit. In 2015, additional amendments under Law 4332/2015 (and Law 4251/2014) allowed Non-EU citizens to apply for Greek citizenship after seven years of continuous residence, provided they spend at least 180 days per year in Greece.
VISA-FREE TRAVEL FOR GREECE GOLDEN VISA
The Greek residency permit allows visa-free travel to Europe including 29 countries in the Schengen zone.
33
COUNTRIES
╸VIEW LIST
EUROPE
- Austria
Belgium
Bulgaria
Croatia
Cyprus
Czech Republic
Denmark
Estonia
Finland
France
Germany
Greece
Hungary
Iceland
Italy
Latvia
Liechtenstein
Lithuania
Luxembourg
Malta
Monaco
Netherlands
Norway
Poland
Portugal
Romania
San Marino
Slovakia
Slovenia
Spain
Sweden
Switzerland
Vatican City
INVESTMENT TYPE & COST
The government has established particular residential real estate investment criteria that must be met in order to be eligible for Greek residency. To make sure that all required permits are in place and that applicants are eligible for the resident visa, IVS provides an inventory of pre-approved projects. This inventory is updated frequently in response to new opportunities and availability. Prior to submitting their application for residency, investors must buy a property.
APPLICATION PROCESS AND TIMELINE
PREPARATION AND PLANNING
- Initial Consultation: Contact an I VISA SERVICES for an initial consultation to
understand the Greece Golden Visa requirements and process.
- Document Preparation: Gather necessary documents
- Investment Decision: Decide on the investment option – typically real estate purchase
in Greece
Property SELECTION AND DUE DELIGENCE
- Property Search: With the assistance of the I VISA SERVICES, start searching for
properties in Greece that meet the investment criteria.
- Legal Due Diligence: Conduct legal due diligence on selected properties to ensure they
meet all legal requirements.
- Investment Decision: Finalize the property selection and begin the purchase process.
APPLICATION SUBMISSION AND FINAL STEPS
- Property Purchase: Complete the purchase of the selected property in Greece.
- Residency Application: Submit the residency application along with all required
documents to the Greek authorities.
- Biometrics and Interview: Attend any biometrics appointments or interviews as
required by the Greek authorities.
ELIGIBILITY REQUIRMENTS
REQUIRED DOCUMENTS
╸ Passport and Visa Requirements
- Certified copy of valid passport
- Schengen Visa
╸ Health Insurance Requirements
- International health insurance policy that provides full hospitalisation coverage in a Greek public hospital and covers medical care expenses for the entire duration of your stay.
- Valid Medical Travel Insurance for at least the duration of the Greek Tourist Visa (1 year) and covers medical costs and repatriation in all Schengen countries.
╸ Additional Documents Requirements
- To visit Greece, you need a birth certificate with Greek/English translation, legalized by the Greek Consulate. If your father’s name is missing, include a family address book. Flight ticket reservation is optional.
- Provide proof of accommodation or an invitation letter. Bring three passport-size photos.
╸ Documents required only from the main applicant
Proof of Address:
- Provide an official Utility Bill showing the residential address. And you must obtain an official English or Greek translation and legalise it with the Greek Consulate of Residence.
Proof of Work and Income:
- Proof of work or evidence of personal company and income is required.
- The official document should also prove the applicant’s work address, type of work, and annual income. And you must obtain an official English or Greek translation and legalise it with the Greek Consulate of Residence.
Bank Statements:
- Bank Statements for the last six months are required.
╸ If married couples are applying for a Greece Golden Visa together, they need to provide the following documents
- For marriage, provide marriage record or certified certificate with Greek/English translation, and consulate legalization.
- For divorce, provide a certified divorce document, also legalized by the consulate if divorced.
FAQ
╸ How much investment is required to qualify for the Golden Visa program in Greece?
The qualifying investment to obtain Golden Visa from Greece starts from EUR 250,000 in real estate. For properties located in the regions of Attica, which includes Athens and Piraeus, Thessaloniki, Central Macedonia, Mykonos, and Thira in the South Aegean Region including Santorini, as well as islands with a population exceeding 3,100, the minimum investment required is EUR 800,000. For properties in all other regions of Greece, the minimum investment is EUR 400,000. EUR 250,000 applies to industrial buildings or parts thereof which is not operating for at least five years and the property is converted into residential use OR listed buildings or parts of listed buildings that are to be restored or reconstructed. The residence permit is valid for five years from initial issue and remains perpetually renewable, subject to maintaining the investment.
╸ What are the requirements for obtaining a Golden Visa in Greece besides the investment itself?
Aside from the investment, you must meet the eligibility requirements of the Golden Visa in Greece. These criteria include being over the age of 18, not having a criminal record, and having the financial resources to invest. You must also be a non-EU/EEA country citizen, have medical insurance for yourself and your family, and provide the necessary documentation for Greece Residency by Investment.
╸ What is the validity period of a Golden Visa in Greece, and can it be renewed?
The Golden Visa for Greece is valid for five years and can be renewed forever as long as the investment is maintained. The Golden Visa residence visa can be renewed every five years if the Greek real estate investment is maintained. Unlike most other countries that offer Golden Visas, you do not need to live in Greece to renew your residence visa. Because the Golden Visa has no expiration date, it is also known as a residence permit. You can apply for Greek citizenship if you decide to stay in Greece after seven years of continuous residency.
╸Do I need to speak Greek to qualify for a Golden Visa in Greece?
You do not need to speak Greek to qualify for a Golden Visa in Greece. If you intend to apply for Greek citizenship after seven years in Greece, you must complete Greek language and civic tests.
╸ Can I work in Greece with a Golden Visa?
Obtaining a Golden Visa in Greece or any other EU country does not provide the right to work or take up employment. Unfortunately, the Greek investor visa does not entitle the holder to seek employment in Greece. Nevertheless, there are alternative means to make revenues, such as renting the property purchased or earning interest on the investment made.
╸ What risks are associated with investing in Greece through the Golden Visa program?
Like all investment programs, the Golden Visa program in Greece carries certain risks. Among these risks are the potential changes in the investment requirements, such as the increase in minimum investment from €250,000 to €500,000, which took effect on August 1st, 2023. Additionally, investors should also consider the possibility of facing difficulties with Greek banks.