Living in Greece
Situated at the junction of Europe, Asia, and Africa, Greece is regarded as the cradle of democracy and the birthplace of western civilization. The country’s history dates back to 800 BCE and has significantly influenced the language, arts, philosophy, politics, and physical pursuits of the modern world. Remnants of Greece’s illustrious past can still be seen in its capital city Athens, which still retains the city’s ancient landmarks.
Consisting of a mainland on the Balkan peninsula and thousands of islands spread throughout the Aegean and Ionian seas, Greece has become a major European business center and is regarded as one of the world’s top holiday destinations.
Greece’s warm Mediterranean climate, world-renowned gastronomy, and cosmopolitan cities, coupled with the country’s exquisite beaches and authentic local traditions and hospitality, have led many upwardly mobile individuals to make this country their second home.
As a member state of the EU, Greece offers its residents and citizens a number of reassuring benefits including high levels of safety and security, excellent education opportunities, robust healthcare options, and a dependable rule of law.
Investment
Real estate investment of EUR 250,000
Processing time
One–two months from submission of the application to approval
Key benefit
The right of free movement to Greece, the EU, and Europe’s Schengen Area
The Greece Golden Visa Program is considered one of the most affordable residence-by-investment programs that provide access to Europe. Successful applicants and their families are able to benefit from visa-free access to Europe’s Schengen Area within two months of applying.
Key advantages of the Greece Golden Visa Program
- Visa-free travel within Europe’s Schengen Area
- No requirement to reside in Greece
- Residence permits can be acquired within 30–60 days
- Unlimited expiry date of residence permit
- Opportunity to rent out the investment property
- Residence applicable to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse)
- Eligibility to apply for citizenship after seven years of residence
- Ability to hold shares and receive income from the dividends of a company registered in Greece (but not to be employed in Greece)
Requirements of the Greece Golden Visa Program
The Greece Golden Visa Program is a residence-by-investment program launched in 2013 that enables non-EU nationals and their family members to obtain permanent residence permits in Greece. The residence permits may be renewed every five years.
The program’s qualifying options are:
Real estate options
- An investment in real estate property with a minimum value of EUR 250,000, plus the applicable taxes
- A 10-year lease agreement for hotel accommodation or furnished tourist residences in tourist accommodation complexes (Article 8 of Law 4000/2001)
- A 10-year time-sharing agreement for hotel accommodation (Law 1652/1986)
Other options
CAPITAL CONTRIBUTION
- A capital contribution with a minimum value of EUR 400,000 to a company that has its registered office or establishment in Greece (with the exception of portfolio investment companies and real estate investment companies) for the acquisition of shares in a share capital increase or bonds that are, at the time of issue, admitted for trading on regulated markets or multilateral trading mechanisms that operate in Greece
- A capital contribution with a minimum value of EUR 400,000 to a real estate investment company (Article 21 of Law 2778/1999) that will invest exclusively in Greece, for the acquisition of shares in a share capital increase
- A capital contribution with a minimum value of EUR 400,000 to a closed-end investment company (Article 5 of Law 2367/1995) for the acquisition of shares or to a closed-end mutual fund (Article 7 of Law 2992/2002) for the acquisition of shares, provided that the aforementioned alternative investment institutions have the intention to invest exclusively in companies that have headquarters or establishments in Greece
SHARES, BONDS, AND/OR GOVERNMENT BONDS
- Purchase of Greek government bonds with a minimum acquisition value of EUR 400,000 and residual maturity of at least three years at the time of purchase, via a credit institution established in Greece, which will also act as the custodian of these bonds
- Purchase of shares, corporate bonds, and/or Greek government bonds with a minimum acquisition value of EUR 800,000, which are admitted for trading or are traded on regulated markets or multilateral trading mechanisms, operating in Greece
- Purchase of units with a minimum value of EUR 400,000 of a mutual fund incorporated in Greece or another country and with the intention to invest exclusively in shares, corporate bonds, and/or Greek government bonds that are admitted for trading or are traded on regulated markets or multilateral trading mechanisms, operating in Greece
- Purchase of units or shares with a minimum purchase value of EUR 400,000 of an alternative investment fund established in Greece or another country of the EU, which intends to exclusively invest in immovable property in Greece
CAPITAL TRANSFER
- Term deposit of a minimum value of EUR 400,000 to a domestic credit institution, for at least one year, with a standing order for renewal.
Procedures and time frame of the Greece Golden Visa Program
Step 1: Visit Greece
Step 2: Choose the preferred property
Step 3: Submission of the application
Step 4: Final verification
Step 5: 3 months period to issue the Golden Visa
