Greek Residency by Investment program
The Greece Golden Visa Scheme
The Greece Golden Visa scheme is granted by virtue of the Immigration and Social Integration Code. Pursuant to the Law 4136/2013 as amended by 4251/2014, Greece has introduced provisions to facilitate the residency of Non-EU nationals in Greece.
The Greece Golden Visa (permanent residency permit)(“PR”), is one of the most popular programsamongst the EU countries, granting residency in Greeceandenabling an entire non-EU family, includingdependent children, up to the age of 24 and the parents of both spouses, to obtain the PR within 3months, with a minimum investment of €250.000. Thisparticularschemeisone of the most competitivePR schemes in Europe, offeringthe applicant and his familyeligibility andfreedom to live freely in the EUand to travel with ease.
According to recent amendments in the Greek Permanent Residency Scheme (Greece Golden Viza), with effect as from May 1, 2023*, the amount for investment in properties in the following areas of Greece increases from EUR 250.000 to EUR 500.000:
- North, central and south regional units of the region of Attica;
- Municipality of Vari – Voula – Voyliagmeni in the Attica Region;
- Municipality of Thessaloniki in the Region of Central Macedonia; and
- Regional units of the islands of Mykonos and Santorini in the Region of South Aegean.
* In so far as the investments made in the above areas and with regards to which payment of at least 10% is made until April 30, 2023, the investors may complete their investment until December 31, 2023.
- Processing time: 2-3 months.
- Visa free travel: Visa free travelling to all EU and Schengen zone countries.
- Investment type: Real Estate.
- Investment cost: 250,000 EURΟ minimum
- Family dependents: Spouse and children below 21 years old.
- Flexibility: No minimum stay.
- Suspension of VAT: No VAT (24%) is applicable for properties that were constructed after 2006.
The Greece Golden Visa Program is a residence-by-investment program launched in 2013 that enables non-EU nationals and their family members to obtain permanent residence permits in Greece. The residence permits may be renewed every five years.
- Purchase a property of at least €250,000 (new or resale).
- Issuance of a Greek Tax Registration Number (TIN) - opening of a bank account.
- 4 photos per applicant and family member where applicable.
- Copy of the Applicants Passport and/or family members (certified by the Greece authorities with the relevant valid entry visa).
- Marriage and Birth Certificates where applicable.
- Medical Insurance.
The Greece Golden Visa Program is considered one of the most affordable residence-by-investment programs that provide access to Europe. Successful applicants and their families are able to benefit from visa-free access to Europe’s Schengen Area within two to three months of applying.
- Fast Track Procedure – Approximately 3 months.
- Eligibility for all family members including parents and parents-in-law of the applicant.
- Visa is renewed automatically every 5 years, provided that the property remains in the name of the applicant (applicant may also sell and buy a new property within this time frame).
- Visa free travelling to all European and Schengen countries.
- No obligation to reside in Greece.
- Entitled to Rent the Property & receive return.
- No VAT (24%) is imposed on the purchase of properties (provided that the building permit was issued after 01/01/2006).
All you need to know before you apply for the Greek Residency by Investment Program.
- A family member includes: Applicant’s wife/husband, their children, applicant’s parents, parents in law.
- Unmarried partners are not entitled to the Residence Permit.
- You may travel directly to any Schengen country after obtaining your Residency, without needing to return back to your home country.
- Applicants who have received the PR have access to public education equivalently to that of the Greek Citizens.
- Entitled to purchase a car in Greece with Greek license plates.
- The property acquired for the investment is allowed to be rented.
- The investment amount does not include value added tax.
- Τhe investment can be consisted of a combination of commercial and residential property including a plot of land.
- The PR does not allow any of the family members or the applicant to work.
- Family members are not obliged to submit their application for their initial residence permit at the same time as the investor and can apply at a later stage and within 12 months from the date of the submission of the main application.
- Fingerprints apply to applicants over 6 years of age.
- Digital signature applies to applicants over 12 years old.
Greece is strategically located at the crossroads of Europe, Asia and Africa and is comprised of 11 different geographical areas. Greece has the largest coastline on the Mediterranean Basin and has the 11th longest coastline in the world, with a climate of 300 days of sun per year with a short mild winter season, making it an excellent holiday destination for people all over the world.
Greece is surrounded by Albania, North Macedonia, Bulgaria and Turkey to the north, the Aegean Sea to the east, the Ionian Sea to the west and the Mediterranean Sea to the south. The capital of Greece, Athens, has been standing for over 7,000 years, making it one of Europe’s oldest cities. The population of Greece is roughly 11 million people, whereby 40% of the population live in Athens. Greece has been a full member of the EU since 1989 and a Eurozone Member since 2001.
Greece has a thriving culture and economy and has always been a budget-friendly destination. Greece & the Greek Islands are known for 3 things: ancient civilization, amazing landscapes and high developed tourism. Greece is a democratic and developed country with an advanced high-income economy, a high quality of life and a high standard of living.
Greece has been voted as one of the safest countries with the lowest crime levels in the EU, which is one of the many reasons that it is considered as an ideal destination for permanent residence for non-European Union nationals to migrate to, not forgetting to mention the high quality healthcare and education, as well as the stable political climate.
ABOUT US
Karitzis & Associates L.L.C is a full service, innovative and forward-thinking boutique Law Firm, situated in Limassol, Cyprus, with offices in Athens, Greece, staffed with a dedicated team of dynamic professional lawyers, providing integrity, efficiency and trust to all clients.
Specializing in all aspects of Greece, Cyprus and EU immigration law, our firm’s Immigration Department takes pride in its responsiveness, efficiency, reliability and diligence in servicing our clients in a cost-effective, time-efficient and highly qualitative manner. Our dedicated team is always eager to take on a new challenge, and our expertise in the field of immigration law guarantees that we are the right people to trust for achieving the desirable outcome, irrespective of the nature and degree of difficulty of your case. Over the years, we have had the pleasure of successfully representing various individuals and their families, interested in migrating to Greece by mean of acquiring the permanent residency status (“Golden Visa”).
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Overcome each and every obstacle
Cyprus – Greece
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10+
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Golden Visa Immigration Law
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Should you have any questions, or if you would like a detailed breakdown of the exact costs for your family, kindly contact us and we will be delighted to help you.
Andreas M. Damianou
Partner – Head of Litigation Department
Immigration Consultant