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Golden Visas have been offered by Greece since 2013. For an investment of €250,000, a residence permit is granted for any residential or commercial property in Greece. The premises can be rented out by the investor with immediate effect, thus offering good returns. Greek language proficiency tests are not required for residency purposes. To become a citizen, you must pass these tests as well as a general country history test. In addition, investors do not have to live in Greece in order to renew their residence permits.
The following requirements must be met by applicants for a golden visa residence permit:
The residency requirements
Applicants must be at least 18 years old
Have no prior criminal record
Entry into EU countries is not restricted
Documentation of health insurance
Assurance that the current bank is in good standing
Funding proof for qualifying investments
The proof that the qualifying investment has been acquired
The biometrics will need to be taken in Greece once the application has been submitted.It is important to keep in mind that Greece’s permanent residence permit is renewed every five years.
.How to become a citizen of Greece
In addition to permanent residency, the Golden Visa can also lead to nationality. Citizenship requires the following criteria:
- Become a taxpayer after living permanently in Greece for seven years.
- Obtain a Greek language proficiency test and demonstrate beyond doubt adequate knowledge of Greek history and culture by passing a citizenship test.
- In order to obtain citizenship, this is considered a naturalization process, which means there isn’t a fast-track option.
Make sure your family is included
- The spouse (including same-sex marriages);
- A child under 21 years of age who is not married, a full-time student, and is fully supported by the main applicant;
- The children of previous marriages;
- The main applicant’s parents and/or spouse can be included. Parents can be included regardless of their age or dependency.
3. €250,000 for a ten-year lease on a hotel or tourist residence
4. €250,000 for the purchase of a land plot for construction or agriculture
5. €250,000 when inheriting or receiving real estate as a gift
6. €250,000 for a 10-year timeshare
Step-by-step procedure for obtaining the Greece Golden Visa by purchasing real estate
- First, Migronis performs all personal due diligence and contracts with the client to provide all services
- Migronis will assist you in selecting your preferred investment route
- Even though it is helpful, you do not need to open a bank account in Greece before investing. Investments can be transferred directly to the developer
- Invest in the property or acquire the property. You can transfer funds directly to the developer or fund
- The next step is for Migronis to submit your application along with all the necessary documents (civil documents, police clearance certificates, birth certificates & marriage certificates) that need to be translated into Greek
- Upon approval, the Greek immigration department issues an invitation to come for biometrics
- Your biometric data must be submitted in Greece at the seventh step
- The Golden Visa has been approved, and the residency card has been issued. It is now possible to travel visa-free throughout the Schengen area and/or move permanently to Greece
- It is important to renew your Golden Visa Residence Permit every five years
- After 7 years of physical residency in Greece, apply for citizenship by naturalization