Greece is the first on the list for those who want sun, sea, unique excursions, excellent accommodation, and fantastic local cuisine. It is a European country and is often a key factor for those looking to move here permanently. If you wish, you can always find a business that will provide a reasonable income.
As in some other countries, for example, in Malta, Italy, it is possible to get a Greece Residence by investment. However, some requirements will have to be met first. This opportunity is also available to citizens of non-EU countries. Their families can also acquire a residence permit by investing in this state’s growing real estate market.
Overview of the Greece Golden Visa Program
There are several ways of immigration to the specified country and becoming its citizen. One of the most common ones for wealthy persons is to participate in the official state program for obtaining a residence permit by purchasing real estate or investing money in bonds or bank deposits. It is relevant for citizens who have reached the age of majority and have no criminal record. Only 3 months will be needed to collect documents, pass a security check and get a residence permit card.
Many Greece Golden visa benefits include traveling in Schengen countries visa free, entry and exit even at closed borders, opening an account in local banks, receiving high-class medical services, and vacationing at the best European resorts.
You have to choose one of the following to obtain a residence permit:
- investments in securities;
- opening a deposit in a Greek bank;
- renting or buying a house/apartment.
The specifics of the chosen option and the number of family members in the application will affect the final amount. If it is an investment in real estate, it is necessary to allocate a minimum of 250 thousand euros. As for other options, they require from 400,000 euros. In addition, buying a land plot to construct a house or for farming is possible.
It is necessary to focus in detail on the program’s pros to understand what you can get. As noted by expert Zlata Erlach, who works at Immigrant Invest, the advantages are numerous. You need to fulfill all the conditions to get them.
Benefit 1: Freedom of Movement
A person has no obligation to reside on the territory of the island state for the entire period of validity of the residence permit. In addition, residents have the right to visit without additional visas to the rest of the Schengen zone and the European Union throughout the year. There is no need for a visa or other specific documents.
If the applicant resides in this country for 7 years, he can apply for citizenship.
Benefit 2: Real Estate Investment Opportunities
It is worth mentioning this point in the list as well. You can invest in the real estate market, which is actively growing and thriving. For example, there was an increase in the inflow of foreign capital by 60% in 2022 compared to the previous year. The historical maximum reached the mark of 1.277 billion euros.
The property can be located anywhere in mainland Greece, on one or more islands. Co-buyers are allowed to buy a property together.
Benefit 3: Path to Permanent Residency and Citizenship
Applicants get many advantages of Greece golden visa. These include visiting the country even when the borders are closed for ordinary tourists, indefinite stay, and the opportunity to acquire European citizenship. And the latter applies not only to the visa holder but also to his closest relatives. It can be obtained after 7 years of residence.
Benefit 4: Quality of Life and Social Services
It is impossible not to mention the decent standard of living. It is manifested by free first aid and the close attention of the state to the safety and quality of food and medicines.
Benefit 5: Taxation Benefits
The essential aspects of Greece residence by investment benefits include tax prospects. There is an opportunity to become a tax resident and pay income tax at a fixed preferential rate of 100,000 euros per year for 15 years.
The applicants see this program as an effective way for optimization of tax payments and a backup option in case of obstacles or problems in their home country. In general, it is a rational decision to change your life for the better. And if you also turn to a specialized company for help, you can be 100% sure of a successful result. In this case, the process will be as fast and comfortable as possible for you.