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Greece Golden Visa (Permanent Residence Permit by Investment)

Government program. Investment from €250,000. Residency for the whole family

Terms and requirements for obtaining the residency

Normally, the process takes from 3 to 5 months. Investors must meet the following criteria:

  • Absence of sanctions, restrictions or bans on entry to EU countries, the USA, the UK and Canada

  • Absence of a criminal record and criminal proceedings for serious crimes

  • Ability to confirm the legality of the source of income

  • Regular income to support the dependants

Golden Visa of Greece can also be obtained by:

  • A spouse

  • Dependent children under 23

  • Dependent parents and grandparents

Advantages of Greek Golden Visa

  • Visa-free entrance and residency in Schengen Area

  • Possibility to reside in Greece all over the year

  • Social and political security

  • All family members can receive residency within 2-3 months

  • Dependent parents & children under 23 can obtain the residence permit together with the main applicant

  • New business development opportunities

  • No requirement to reside in the country

  • Possibility of tax planning

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Investments in Greek real estate

When investing in Greek real estate, it is important to consider the rise of prices. It is already very difficult to find a decent object for 250,000, so the price often starts from 300,000.

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The market trend forces to rush, as in the future the cost will be even higher. At the same time, the costs pay off. Greece annually attracts millions of tourists who need to live somewhere. This guarantees a stable demand for real estate for rent.

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Investment for obtaining a Greek residency

 

Investment in real estate

250,000 – the minimum investment in any type of real estate

Examples of calculations:
For 1 applicant — €269,000
For a family of 4 — €270,000

Stages of Greek residency application process

The following steps are described for reference purpose only. The main thing that we want to underline is that Migronis takes care of the preparation and submission of your case. You only need to provide the original documents. We will do all the paperwork ourselves.

01
CONTRACT SIGNING

Free preliminary background check (due diligence) of an applicant (1 day) and contract signing in one of our offices or remotely. At this stage, it will be sufficient to provide the passport copies of all family members who will be included in the residency application.

Result of the stage: background check report + signed contract.

02
PREPARATION OF DOCUMENTS

We receive Police Certificates, fill out government forms, arrange notarization, translation and apostilization of all the necessary documents, and send the package to a migration agency in Greece.

You submit the original documents and sign the forms and other documents that we prepare by ourselves.

At this stage, you’ll be required to visit Greece to submit your biometric data.

Result of the stage: Confirmation of documents received by the government.

03
REVIEWING THE CASE

The migration agency of Greece carries out the processing of the case during the period of 4 to 7 months.

Result of the stage: Approval in principle is issued.

04
OBTAINING THE RESIDENCE CARD

After paying the investment and fees, you will need to visit Greece to get your residence card. The card is issued for 2 years. To meet the requirements, you must stay in the country for at least 7 days a year. We will remind you to renew the card 6 months prior to its expiration date.

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Media

Every year we publish more than 200 articles in world-leading mass media so that you do not miss important updates the latest news from the world of immigration.

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Answers to frequently asked questions and information about Greece

Who can obtain residency together with an investor?

A spouse;
Children under 18 years of age who are not married and who are fully supported by the main applicant;
Children from 18 to 23 years old, unmarried, in full-time attendance at a recognized institution of higher learning, and fully financed by the main applicant;
Dependent parents or grandparents of the main applicant and/or spouse;
A former spouse cannot obtain citizenship.

Can children from previous marriages be added in the application?

Yes, children from previous marriages can be added to the application.

How is the financial dependence of children and parents on the main applicant confirmed?

Financial dependence of children is confirmed by a certificate of full-time learning, and of parents by a birth certificate.

Can married children obtain residency together with the main applicant?

No, in this case, they do not fall under the category of dependents.

How long is a Greece "Golden Visa" issued for?

A "Golden Visa" of Greece is issued for 5 years and can be renewed for the same period.

Do I need to visit the country to obtain residency?

Yes, you need to visit Greece to submit biometrics before applying for a residency.

Do I need to submit biometric data to obtain a Greek residency?

Yes, it is required to submit biometric data.

Does the residence permit give me the right to apply for citizenship?

Yes. After 7 years of continuous residency, the permit holders may apply for Greek citizenship.
[law No. 4332/2015, Greek Government Gazette Number 76 A’, July 2015]

For the citizenship eligibility there are certain criteria to be met:
- Knowledge of Greek language. Knowledge of Greek history and elements of civilisation.
- The applicant must live in Greece for most of the time before the application.

With the approval of the application the investor receives:
- Greek – European Union passport;
- Voting rights.

How to submit the documents if our office is not in the client's city?

All documents are sent by mail.

Do I need to pay extra fees to obtain & renew my residency?

Fees to obtain a residency (for each applicant over 18) - €500;
+Health insurance (for each applicant) - at least €300;
+Fees on the sales contract - about 10% out of the full cost of a real estate object.

Can I use the residency permit in order to travel to other European Union countries?

You may travel with your passport and the residency permit to all countries that are part of the European Union and belong to the Schengen Area:
Austria, Belgium, France, Germany, Denmark, Estonia, Spain, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Hungary, Poland, Portugal, Slovakia, Slovenia, Sweden, Czech Republic and Finland.

You may also travel to these Non-EU countries that belong to the Schengen Area:
Iceland, Norway, Switzerland and Liechtenstein.

Please note that after the residence permit has been issued, you may also travel to any Schengen country directly from your country. You do not need to go through Greece first.

If I own the property and reside in Greece, can I and the people that accompany me work?

Holders of this type of residence permit are allowed to set up their own business in Greece.
They are not allowed to work under any type of employment.

As a Greek passport holden do I need a visa to the US and Canada?

You must register in ESTA before you travel to the US;
To travel to Canada and the UK you don't need a visa.

Which documents confirming the origin of funds are required?

Confirmation of employment and/or ownership of business is required. The following documents may be requested:
- certificate of salary, dividends received;
- certificate from the tax authorities;
- documents on the sale of real estate or other assets;
- an extract from the brokerage account on the sale of securities or income received;
- sale or gift contract;
- other documents confirming the acquisition of income.
One or several documents can be provided, the checklist is agreed when preparing the case.

Is it possible to transfer investment money not from my own bank account?

No, the funds should be transferred only from a personal account.

What additional documents may be obtained?

Driver's license;
Individual tax number.

Is it obligatory to visit Greece to obtain residency?

Yes.

What is a minimal investment in real estate?

€250,000.

How long should I own a real estate object to keep residency status?

You must own a real estate object permanently if you wish to keep the status.

How long does it actually take to obtain a residency?

2-4 months.

What happens in case of concealment of information or providing false data?

A residency application will not be approved.
If an applicant committed a serious crime or doesn't own a real estate worth at least €250,000, a residency status might be canceled.

In what cases can a refusal be issued?

- provision of false information;
- involvement in terrorism, money laundering, crimes against humanity or crimes that violate human rights and freedoms, or admission of guilt in such crimes;
- availability of a criminal record or criminal proceedings for serious criminal offenses;
- posing a potential threat to public order, national security or the reputation of Greece.

Greece Passport Rating

Greece passport is ranked 7th (out of 106) in the 2018 passport rating in terms of freedom of movement.

Information about Greece

GDP 2017 - $200,69 bln. (increased by 4.11% if compared to $192,77 bln. in 2016);
Population 2018 - 10,812,745 people;
The capital is Athens;
Sectors of the economy - tourism (15% GDP), industry (10% GDP), agriculture (7% GDP);
Doing Business 2017 ranking - 67rd out of 190 in the World Bank's ranking of ease of doing business.

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