Golden Visa Greece offering residency without citizenship

Launched in July 2013 the Greek golden visa programme grants a five year residency visa in return for an investment in real estate. There is no minimum stay requirement and children 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 necessary to live in the country in order to retain and renew the investor visa. However citizenship can only be granted after seven years of residency.

Investors in real estate in Greece must also budget for the additional taxes on real estate at 23%. However at €250,000 + taxes and fees (just over €300,000 in total) this programme offers the lowest cost to residency in Europe. The Greek residency programme is relatively fast, taking around 40 days until a residency card is issued.

Benefits:

– The residency right is permanent, renewed every 5 years. After 7 years of residency will lead to citizenship possibility.

– The investor may offer residency right to his parent’s, spouse, spouse’s parents and children under 21.

– The investor will be able to sell his/her property before the expiration of 5 years to another foreign citizen, and transfer the residency permit together with the property.

– There is no need to stay in Greece to maintain the residency right.

– The investor may establish his own business in Greece.

– The residency permit holder can travel freely to all Schengen countries. He can also travel directly from his country without the need to come to Greece first.