Greece’s Golden Visa residency by investment program (RBI) is attracting an increasing number of applicants, offering visa-free travel in Europe for the entire family and a rentable second home in a European tourism hotspot in return for a real estate investment of EUR 250,000.
Globally, Greek residency by investment has emerged as one of the most popular investment migration routes with over 28,000 residence permits issued since its launch in 2013 worth about three billion euros in FDI.
Following a slump in 2020 brought on by the pandemic, Greece approved 1,035 main applicants and 3,383 family members in 2021, making it the most popular golden visa in Europe last year.
The second-placed RBI in terms of application numbers, the highly regarded Portuguese golden visa, registered 270 fewer applications during the year, a testament to the booming demand for the Greek Golden Visa.
Chinese investors make up about 67 percent of all applicants. However, out of the top ten foreign nationalities, four (Turkey, Lebanon, Egypt, and Jordan) are neighbours of Greece, which highlights the regional demand for the Greek golden visa.
Greek Residency By Investment at a Glance
- Greek residency for a property purchase of EUR 250,000
- Live and work in Greece when maintaining residence in another country
- Study in Greece
- Visa-free access to the Schengen area of EU countries
- Family members including children up to 21 are included
- Visa can be renewed every five years
What are the attractions of the Greece Golden Visa Program?
For people looking for a second home or a Plan B, residency by investment in an EU country ticks all the right boxes.
Greece’s temperamental climate, a wide range of choices in Greek property investments, stunning natural scenery, strategic location, fine cuisine, robust healthcare and great education system all play a major role in attracting investors from all around the globe.
By purchasing Greek property in touristic hotspots, investors can rent out the real estate for good returns, or add them to a tourism-driven portfolio within the realm of applications such as Airbnb or otherwise.
The Greek government allows investors to purchase any property within its borders on an open market, meaning investors have their pick of the bunch, allowing them to buy real estate that suits their needs, be it for returns, personal use, or otherwise. Greek golden visa applicants can create robust investment portfolios to expand profits, hedge against inflation, and diversify their asset base within a stable economic landscape.
The golden visa itself comes with a wide array of benefits regarding immigration purposes. It allows residence permit holders unlimited access (but not settlement) to the Schengen Area, greatly enhancing their global mobility in the process.
Holders of a golden visa can also maintain their residence without having to relocate to Greece, as the golden visa is tied to the investment and requires no physical residence on Greek land. As long as the golden visa holder maintains their investment, they maintain their residence permit.
For those looking to reside in the beautiful European nation, they can do so with Greek citizenship in mind, as residing as a tax resident for seven consecutive years allows residents to apply for naturalization.
Greece Golden Visa Requirements
While the golden visa has various investment options, the most affordable and most desirable is the real estate option, which requires investors to purchase a property (or a multitude of properties) for a sum of EUR 250,000, which they can then rent out for profit. This is way below Portugal’s Golden Visa minimum investment of EUR 500,000.
There is also an option to deposit EUR 400,000 in a Greek bank account. Investors have the flexibility to apply for the program via the bank deposit route and later switch to purchasing real estate.
The program is straightforward and user-friendly. The process takes a mere two to four months, while the documentation required is minimal. Applicants can also add their spouse and children below 21 to the same application.
For those looking for a robust contingency plan to hedge against political and economic turmoil in their home countries, the Greek golden visa offers one of the best options possible. The simplicity and potential profitability of the program, coupled with the massive benefits it offers, provide investors with a very attractive option.
If you are considering investing in your family’s future by obtaining an EU residency through investment, all you need to do to know more is contact us today. Our team of vastly experienced consultants will provide you with all the information you need, guide you through the process, and find you the investment options that meet your needs. If you would like to find out more about the Greek Golden Visa, make sure to visit our dedicated page for the program!
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