Since its implementation in 2014 the Greek Golden Visa Program has been successful in garnering foreign interest from all over the world.
The Greek residency program is so well received and in high demand for 2 reasons:
1. It requires the lowest investment in the European Union (€250,000) through real estate purchase and
2. It provides visa – free access to the 27 European countries of the Schengen area.
What is the Greek Golden Visa Program (Residency by Investment in Real Estate)?
The Greek Golden Visa is a Permanent residence permit for investors that offers permanent residence permit to all non-EU citizens and their family members, who buy property/properties anywhere in Greece, the value of which exceeds €250,000.
It can be renewed every five (5) years indefinitely, as long as the real estate property remains entirely at the ownership of the main applicant. Family members may be granted a personal residence permit that is renewed and/or expires concurrently with the residence permit of the investor.
Benefits of the Greek Golden Visa Program (Residency by Investment in Real Estate)
Greece is a member of the Schengen area since 2000, a safe country with a relatively low cost of living.
Greece has one of the most diverse landscapes in the world where a potential investor can find a house, a cottage or even an apartment that ensures quality of life and meets all living needs. Places that combine mountain scenery with a spectacular view to the sea.
Flexibility in applying for a residency
Following the 2020 restrictions in travel due to Covid-19 Greece quickly responded with new amendments in its procedure for applying for a residency.
In order to limit frequent visits before the relevant authority the applicant is able to sign a Power of Attorney (P.o.A.) in order to complete the procedure remotely. Furthermore opening a Greek bank account which is a requirement of the Golden Visa Program can be also achieved remotely.
Steps to follow
Even before finding a property the most important aspect of this procedure is finding the best legal counsel thus avoiding any future legal issues and irregularities. Then you can choose the property/properties to invest in. Next steps would be to either visit Greece or provide a P.o.A. in order to initiate procedures for the purchase. During your stay in Greece or using your P.o.A. a Greek bank account must be opened and a Greek Tax Identification Number (T.I.N.) must be issued.
The requirements to receive a residency permit must be met before applying and therefore legal counsel is essential. The next step is to collect all the necessary documents and apply before the relevant authority. This would be the only time the applicant is needed to visit Greece in order to provide the necessary biometric data. Within a period of 2 months the authorities review the application and if all the requirements are met the residence permit is issued.
Don’t miss the chance to get your residence permit in Greece. Discover Central Greece, Volos, Mount Pelion, Skopelos, Skiathos, Alonnisos and apply for a Golden Visa.
For details on the Golden Visa Program and answers to your questions visit Law Office Stathaki.
