Greece Offers an Effortless Residency Programme with Visa-Free Access to Schengen Countries
THE GREEK RESIDENCY PROGRAMME
The Greek Golden Visa is a residency-by-investment program that offers non-EU citizens a straightforward pathway to obtaining residency in Greece. By making a qualifying investment in the country, individuals and their families can secure a Greek residency permit with numerous benefits, including access to the Schengen Area for travel and the option to live, work, and study in Greece.
To qualify for the Greek residency by investment, applicants typically need to invest in Greece through real estate purchases, financial contributions, or other approved avenues. The minimum investment amount, particularly for real estate, has historically been set at €250,000, making it one of the most affordable residency-by-investment programs in Europe.
One of the main attractions of the Greek Golden Visa is its simplicity and the quick processing time compared to other European residency programs.
The visa is granted for five years, with the possibility of renewal, provided the investment is maintained. There are no mandatory stay requirements, meaning investors are not obligated to live in Greece full-time to retain their residency.
Investing in Greece offers additional advantages, such as potential rental income from real estate and the prospect of a vibrant lifestyle in a country known for its rich culture, history, and natural beauty.
Whether for business opportunities or a peaceful retirement, the Greek Golden Visa is an appealing option for global investors seeking Greek residency by investment.
INTERESTING INFORMATION
Greece was a founding member of the UN.
CAPITAL
Athens
OFFICIAL LANGUAGE
Greek
MEMBERSHIP
United Nations, Greece was the tenth member to join the European Communities (precursor to the European Union), EU (1981), Eurozone (since 2001), Schengen zone (2000), Council of Europe, NATO, OECD, OSCE, WTO.
CURRENCY
Euro (EUR)
POPULATION
11 million
TOTAL AREA
131 957 km2
RELIGION
Greek Orthodox
DIALING CODE
+30
INVESTMENT REQUIREMENTS
EUR 250 000
A minimum investment of €250,000 is required for properties that have been converted from commercial to residential, regardless of size or location. The conversion must be complete before the investor can submit his application.
A minimum investment of €250,000 can also apply for properties in listed / historical buildings that the investor has restored or rebuilt, regardless of size or location. The renovation must be complete before the fifth year of residency in order for the investor to renew his Golden Visa.
EUR 400 000
A minimum investment of €400,000 is required for properties in all other regions of Greece and on other islands. It must be a single property with a minimum size of 120m2.
EUR 800 000
A minimum investment of €800,000 is required for properties in prime areas, including the central, northern, and southern suburbs of Athens, Thessaloniki, and the islands of Mykonos and Santorini. This includes islands with populations of more than 3100 inhabitants.
INVESTMENT TIME FRAME
The investor must keep the property for at least 5 years. If the property is transferred before the end of the five-year term, the investor will lose the right to residency. The investor is permitted to rent the property out during the time and can earn a rental return.
The residency permit must be renewed every five years, however the investor must keep the property under his /her possession and ownership. In other words, if the investor wishes to renew his /her residency permit, they need to own a property.
FEES
Fees are between EUR 25 000 – EUR 35 000 depending on the value of the property purchased and the size of the family. This includes property registration, taxes and transfer duties, as well as professional fees.
CITIZENSHIP
There are 4 ways in which to acquire Greek citizenship:
Those who wish to become Greek citizens but do not have Greek ancestors must have legally lived in Greece for a period of ten years within the last twelve years in order to qualify. If they are a refugee and do not have another nationality, then the law is somewhat more lenient and they are only required to have five years of residency in the last twelve years. A non-Greek applicant must have sufficient knowledge of the Hellenic history, language and the civilization in general.
By Birth to Non-Greek Parents who are Long-Term Residents of Greece. If a child is born to two non-Greek parents who are legally living in Greece for a minimum of five consecutive years, the child can acquire Greek citizenship.
Through Greek education by attending a school in Greece. A child of long-term residents living in Greece can obtain Greek citizenship if he/she lives legally with the proper residency permit and has attended primary/secondary school in Greece for at least six (6) years before the age of 18. There are application deadlines to be aware of.
The government can bestow an honorary citizenship. This is a rare honour and is usually reserved for humanitarian reasons or for artists, athletes, or other world citizens who have done extraordinary things to promote Greece.
TRAVEL AND BENEFITS
A Greek residency offers the investor and their family the right to live and study in Greece. In addition, it allows the investor to spend a maximum of 90 out of every 180 days in any of the Schengen zone countries. With residency, the applicant and his / her family can immediately travel visa free to all the Schengen zone countries.
The permit does not include access to employment, however, the holders of the residency permit have access to public education like all Greeks nationals.
FAMILY REGROUPING
In Greek culture, family is very important and the programme allows flexibility to include direct family. The family members of the main applicant will be issued a residency permit for the same duration of time as his / her application.
Family members included in the application:
Spouse
Parents and parents-in-law
Children who are under the age of 21. After the age of 21 they can be granted an independent residency permit until they become 24
BENEFITS
- Affordable Investment Threshold: Minimum real estate investment starts at €250,000 in select areas, making it one of the most cost-effective programs in the EU.
- Schengen Area Access: Enjoy visa-free travel across 27 European countries within the Schengen Zone.
- Fast and Simple Process: Obtain your residency within 2-3 months with minimal bureaucracy and streamlined procedures.
No Residency Requirement: No need to live in Greece full-time to retain your residency status. - Five-Year Renewable Permit: Secure a five-year residency permit for you and your family, renewable as long as the investment is maintained.
- Family Inclusion: Extend the benefits to your spouse, children under 21, and even your parents.
- Path to Citizenship: Opportunity to apply for Greek citizenship after seven years of residency.
- Investment Flexibility: Options to invest in real estate, tourism, or government bonds for a customized investment approach.
Cultural and Lifestyle Benefits: Experience Greece’s rich history, stunning landscapes, and a relaxed Mediterranean lifestyle.
GREECE - COUNTRY INFORMATION
Greece is officially known as the Hellenic Republic, and since ancient times was known as Hellas. Situated on the southern tip of the Balkan Peninsula, Greece shares land borders with Albania, the Republic of Macedonia, Bulgaria and Turkey. The country consists of 9 geographic regions: Macedonia, the Peloponnese, Central Greece, Thessaly, Epirus, the Aegean Islands (including the Dodecanese and Cyclades), Thrace, Crete, and the Ionian Islands. Greece has a vast number of islands and has the longest coastline on the Mediterranean Basin and the 11th longest coastline in the world.
Greece was also the birth place of democracy, the Olympic Games, Western literature and philosophy, as well as Western Drama. Ancient Greece is also considered the cradle of Western Civilisation. Greece’s rich cultural heritage is also highlighted by its position as host to 17 UNESCO World Heritage Sites.
Greece joined the EU in 1981, the Eurozone in 2001 and the Schengen zone in 2000. Greece was also one of the founding members of the United Nations (founded 24 October 1945).
RESOURCES
Government of Greece: https://government.gov.gr/
Greece Tourism Authority: http://www.visitgreece.gr/
