Greece

The Greek Golden Visa Program: Residence Permit by Investment

The Golden visa program in Greece was launched five years ago, currently the popularity of the program soaring, amid new wave of investor interest.
 
Launched in July 2013 the Greek golden visa program grants a five year residency visa in return for an investment in real estate. There is no minimum stay requirement and dependents up to the age of 21 are included in the family application. The visa is granted for five years and renewed every five years if the property investment is retained.

It is not obligatory to live in the country in order to retain and renew the investor visa. Nevertheless , citizenship can only be granted after seven years of residency.

Foreign nationals have invested €1 billion to purchase Greek real estate under Greece’s Golden Visa program. Since the program’s inception in 2013.
 
Greece Golden Visa Program via Property
 
Greece golden visa program requires EUR 250,000 investment in property currently, cheapest and most popular golden visa in Europe,  attracting major investor interest from China, Russia and Middle East.
 
As announced by Enterprise Greece, the Golden Visa program in Greece is considered to be more successful than the corresponding Cyprus programs as it grants a permanent residence permit and access to 26 Schengen countries to individuals and their dependents who invest at least EUR 250,000 for a property purchase in Greece.
 
The investors may imagine that for a minimum investment of only EUR 250,000 , they will obtain most attractive free pass to 26 Schengen countries in Europe, without in terms any visa further requirement, by just showing the original passport with the GOLDEN VISA GREECE. At the same time , the investors get the right of permanent stay in its territory.
 
Key facts about Greece Golden Visa Program
 

• Investment in property from EUR 250,000;
• Spouse, dependent children up to 21 and parents can also be included.
• No requirement to reside; the investors are not required to live in Greece prior or during the application, or even after residency has been granted.
• EU residency : As Greece is a member of the European Union, you will be an EU resident;
• EU Schengen visa free travel : Greece is part of the Schengen Zone of Europe allowing you to move freely;
• Citizenship requires residency ; After 7 years of continuous residency, the investors can apply for the Greek Citizenship (passport).

 
Key Facts about Greece:
 

• Greece is located in southeast Europe, close to both Africa and Asia;
• Unique weather;
• Worldwide famous culture;
• Greece is a developed country with a high standard of living. Important industries include the service sector, agriculture and tourism.
• Healthy Mediterranean food;
• Safety;
• High level education;
• Low real estate prices.

 
Foreign investment in Greece through Golden Visa program soar in 2017
 
The Demand for Greece golden visas are at all time high . In the year 2017, foreigners approved of Golden visa in Greece has soared by 42.5 % compared to 2016 .  2170 golden visas were issued in 2017. 16% golden visas were issued to Egypt , Lebanon , Iraq , Jordan and Syria .  However, Most of the residence permits for homeowners have so far been given to buyers from China (945), Russia (387) and Turkey (191). In comparison to other countries the Greek Golden Visa Program appears to be one of the most competitive programs. Its financial requirements are the lowest as well as appear to be more convenient and flexible for the investors from third countries since there is no requirement for physical presence.
 

• Golden Visas issued by nationality

 

The People's Republic of China (PRC)	945
The Russian Federation	387
The Republic of Turkey	191
The Arab Republic of Egypt	97
The Lebanese Republic	89
Ukraine	72
The Republic of Iraq	69
The Syrian Arab Republic	50
Hashemite Kingdom of Jordan	49
United States of America (USA)	19
Other countries	202

 
 

• Golden visas issued

 

Year	Golden Visas
2013	16
2014	435
2015	940
2016	1522
2017	2170

 

• Source: Data as of 30 Nov 2017.  Ministry of Migration Policy, Enterprise Greece

 
Today, foreign nationals from all over the world are showing an increased interest in obtaining Greek residency through real estate investment opportunities. From large offshore corporations investing hundreds of millions in the Greek economy to affluent global citizens purchasing personal residences, the historic southeastern Mediterranean country will continue to see a rise in economic gain.  

For more information about Greece’s Golden Visa Program, please click here.

To view our European Golden Visa Program comparison table, please click here.

If you would like to see our Residency and Citizenship Programs through Real Estate Investment comparison table, please click here.

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