The Greek Golden Visa Program, which began in 2013, offers a five-year residency permit in exchange for a €250,000 real estate investment in Greece. You are welcome to bring your family along to the residency program. One of the most popular investment visa programs in the EU is the Golden Visa for Greece. It’s a residence-by-investment visa for non-EU citizens who contribute significantly to the Greek economy. There are numerous ways to invest, one of which is to buy real estate worth at least a quarter of a million dollars.
Golden Visas awarded by EU member states, such as Greece, are highly sought after because they can lead to citizenship. The Greece Golden Visa grants the investor and their immediate family members instant five-year residency.
Why Greece?
- The investment thresholds are lower than in most other EU nations that provide Golden Visa pathways.
- You can extend the visa to include members of your family, such as your spouse, (unmarried) children under the age of 21, and your or your spouse’s dependent parents. If your child is between the ages of 21 and 24, and is enrolled in school, they may be included in the Golden Visa application.
- You and your family will be able to visit the Schengen Zone without needing a visa.
- To renew your residence permit, you do not need to stay in Greece for any period of time.
- After you’ve purchased your home, you can choose to rent it out.
- After seven years of residency, you can petition for Greek citizenship. Because Greece is an EU member, you’ll enjoy access to the EU’s open market and visa-free travel to more than a hundred countries.
- Greece is a place where you may live and invest.
- Greek education and healthcare are available to you.
Investment Options
Capital Contribution
A minimum capital contribution of EUR 400,000 to a company with its registered office or establishment in Greece (except portfolio investment companies and real estate investment companies) for the acquisition of shares in a share capital increase or bonds that are admitted for trading on regulated markets or multilateral trading mechanisms that operate in Greece at the time of issue.
A capital commitment of at least EUR 400,000 to a real estate investment company (Article 21 of Law 2778/1999) that would invest entirely in Greece for the purpose of acquiring shares in a share capital increase.
A capital contribution of EUR 400,000 to a closed-end investment company (Article 5 of Law 2367/1995) or a closed-end mutual fund (Article 7 of Law 2992/2002) for the acquisition of shares, provided that the aforementioned alternative investment institutions intend to invest exclusively in companies with headquarters or establishments in Greece.
Bonds & Shares
Purchase of Greek government bonds with a minimum acquisition value of EUR 400,000 and a residual maturity of at least three years at the time of purchase through a Greek credit institution that will also serve as the custodian of these bonds.
Purchase of shares or corporate bonds having a minimum purchase value of EUR 800,000 that have been admitted to trading or are traded on regulated markets or multilateral trading systems in Greece.
Purchase of units in a mutual fund incorporated in Greece or another country with the intention of investing exclusively in shares, corporate bonds, and/or Greek government bonds that are admitted for trading or traded on regulated markets or multilateral trading mechanisms operating in Greece with a minimum value of EUR 400,000. Purchase of units or shares in a Greek alternative investment fund with a minimum purchase value of EUR 400,000.
Transfer of Capital
Term deposit of at least EUR 400,000 with a standing order for renewal with a domestic credit institution for at least one year.
Documents Required When Applying for a Golden Visa in Greece
- Application form.
- Photographs of oneself that are recent and passport-size. Ensure that they adhere to the Greek visa photo standards.
- A copy of your valid passport is required. The appropriate entry visa must be included in the passport.
- Proof of payment of all applicable government fees.
- Proof that you and any family members have purchased health insurance in Greece.
- You must provide proof of your funds.
- Additional documentation may be required depending on the sort of investment you make, including:
- A purchase contract that attests to the absence of any limitations or exclusions in the purchase, stating the entire amount of the purchase, and the manner of payment (full payment, credit held in a Greek institution, or credit transfer).
- The responsible Land Registry Certificate provided by the Land Registry serves as proof of contract transfer.
For renting a hotel or tourist establishment,
- the following documents are required:
- A timeshare contract for a minimum of five years, stating the annual price
- Proof of transfer registration issued by the competent Land Registry; and
- A certificate issued by the National Tourism Organisation (EOT) stating that it has been informed of the conclusion of the particular timeshare contract.
For a business investment:
- Documents containing information about the company receiving the investment, whether it is established or not (must include name, type of legal entity, and share-holders)
- A document that describes the investment project in detail.
- The investment project’s location
- The investment’s budget and financing structure
- A timeline outlining how the investment will be implemented.
- Predictions for the first five years of investment results (feasibility study and cash flow forecast)
- A document that shows how many jobs will be created as a result of the investment.
Extra Documentation Guidelines
- The documents you provide must be translated into Greek by the Ministry of Foreign Affairs’ Translation Service in Athens, Greece, or by an attorney who is a member of a Greek bar association.
- If your country is a signatory to the Hague Convention, your documents must be validated by an Apostille Stamp or the nearest Greek Embassy.
- Within Greece and the Schengen area, travel medical insurance with a minimum coverage of 30,000 Euros is required.
- A cover letter outlining the objective of the trip to Greece as well as the itinerary
- Flight Dates and flight numbers for arrival and exit from Greece are listed on the itinerary.
- Proof of lodging in Greece for the duration of your visit is required.
- Proof of enough financial resources for the duration of your stay in Greece.
