Invest in Skyros – Buy in Greece

The “Golden Visa” program in Greece, officially known as the Greece Golden Visa Program, is a residency-by-investment program that allows non-European Union (EU) citizens and their families to obtain a Greek residence permit by investing in real estate or other qualifying investments in Greece. This program has become popular among individuals seeking to live, work, or study in Greece or travel freely within the Schengen Area.

Here are some key details about the Greece Golden Visa Program:

  1. Investment Options: To qualify for the Golden Visa, investors have several investment options, including:

    • Real Estate: Investing a minimum of €250,000 in residential property in Greece. This can be one or multiple properties.
    • Real Estate Leasing: Signing a 10-year lease for hotel accommodation or furnished tourist residences, with a minimum total cost of €250,000.
    • Bank Deposit: Depositing a minimum of €400,000 in a Greek bank account.
    • Capital Investment: Investing at least €400,000 in Greek bonds or shares of Greek companies.
    • Entrepreneurship: Creating a business or making an investment in an existing business in Greece with a minimum capital investment of €250,000.
  2. Residence Permit: Once the qualifying investment is made, investors and their family members (spouse, children under 21, and dependent parents) are eligible to apply for a Greek residence permit. The permit allows for residence in Greece but does not grant citizenship.

  3. Benefits: The Golden Visa provides several benefits, including:

    • Freedom to live and travel within the Schengen Area without a visa.
    • Access to Greece’s healthcare and education systems.
    • The opportunity to eventually apply for permanent residency or citizenship, subject to specific conditions and timeframes.
  4. Application Process: The application process involves providing the necessary documentation and proof of investment, undergoing background checks, and paying application fees. It is typically processed through the Greek Consulate or Embassy in the investor’s home country.

  5. Renewal and Duration: The initial residence permit is valid for five years and can be renewed as long as the qualifying investment is maintained. After five years, investors and their families can apply for a long-term residence permit, and after seven years, they can apply for permanent residency.

  6. Tax Considerations: While the Golden Visa program offers residency benefits, it does not automatically make participants tax residents of Greece. Tax residency is determined by different criteria, and individuals should consult with tax advisors to understand their tax obligations.

  7. Legal Assistance: Many investors seek legal assistance or consult with immigration experts to navigate the application process and ensure compliance with all program requirements.

It’s important to note that the rules and requirements of the Greece Golden Visa Program can change over time, so it’s essential for potential investors to check the latest regulations and consult with immigration and legal professionals before making any investments or applying for the program. Additionally, the program’s popularity has led to increased competition for eligible properties, so it’s advisable to research investment options carefully.