Lawyer
Specializes in international migration issues – registration of documents in Ukraine and abroad (Hungary, Romania, China, Türkiye, Israel, etc.) for citizens of Ukraine and foreigners.
Golden Visa to Greece
Greece, a country with a rich history, picturesque landscapes and a favorable climate, attracts not only tourists, but also investors from all over the world. One of the most popular ways for foreigners seeking to obtain a residence permit in this European country is the “Golden Visa” program.
The “Prikhodko & Partners” law firm offers professional support at all stages of obtaining a residence permit in Greece, ensuring safety and comfort for its clients. In this article, we will consider in detail the features of the program, its advantages, validity periods, investment opportunities and the procedure for registration.
What is a Golden Visa to Greece?
What is a Golden Visa to Greece?The “Golden Visa” program is a unique initiative of the Greek government aimed at attracting foreign investment. It allows citizens of countries outside the European Union to obtain a residence permit in Greece by investing in the country’s economy. Introduced in 2013, this program has become one of the most attractive in Europe due to its simplicity, speed of registration and low investment threshold compared to other EU countries. The main condition is investment in government-specified assets, the most popular of which is real estate.
The Greek Golden Visa opens the door to a comfortable life in Europe, providing investors and their families with the right to reside in the country, as well as freedom of movement within the Schengen area. The program does not require permanent residence in Greece, making it an ideal choice for those who want to combine investment opportunities with a flexible lifestyle and the ability to live in different countries around the world.
What are the benefits of a Golden Visa to Greece?
The Golden Visa to Greece has a number of significant advantages that make it attractive to foreign investors.
- Low investment threshold. Firstly, the minimum investment is €250,000 for the purchase of real estate in most regions of the country (from September 1, 2023, in some popular regions such as Athens, Thessaloniki and individual islands, the threshold has been raised to €500,000). This is one of the lowest thresholds among similar programs in Europe, making Greece more competitive compared to countries such as Portugal or Spain.
- Involvement of family members. The second important advantage is the possibility of including family members in the application, in particular, the Golden Visa allows for residence permits for spouses, children under 21 and parents of the investor, which ensures a family approach to immigration. In addition, Golden Visa holders receive the right to visa-free travel within the Schengen area, which significantly simplifies travel and residence in Europe.
- No requirement for permanent residence in Greece. Investors can maintain their residency status by staying in the country for only a few days a year. This is ideal for those who want to maintain their primary residence in another country or who need to move frequently due to their professional activities. In addition, after seven years of legal residence in Greece, the investor can apply for citizenship, although additional conditions must be met, such as knowledge of the Greek language and integration into society.
- Possibility of return on investment and rental of property. Housing in Greece available for investment includes a wide range of properties – from apartments in cities to villas on the coast. Real estate in Greece is not only affordable compared to other EU countries, but can also generate rental income, making the investment financially profitable.
Validity of Residence Permit and Citizenship of Greece
Validity of Residence Permit and Citizenship of GreeceThe Greek Golden Visa is issued for five years and can be extended indefinitely, provided the investment is maintained. This allows investors and their families to obtain stable residency status without having to renew their documents every year. After five years of temporary residence, an application can be submitted for permanent residency, and after seven years, for Greek citizenship.
To obtain citizenship, you must live in Greece for at least seven years, pass a B1 level Greek language exam, as well as an exam on the history, culture and political system of the country. Permanent residence in Greece (at least 183 days a year) is a prerequisite for naturalization. However, Golden Visa holders do not have to live in the country permanently if they do not plan to apply for citizenship. Our company’s lawyers provide full support at all stages from document preparation to consultations on citizenship exams, which significantly facilitates the naturalization process for clients.
Investment options and the possibility of their return
Investment options and the possibility of their returnThe “Golden Visa” program offers several investment options, allowing investors to choose the most convenient option. The most popular is the purchase of real estate worth at least 250,000 euros (or 500,000 euros in certain regions). This can be one property or several, as long as their total value meets the requirements. The property remains the property of the investor and can be rented out to generate passive income.
Other investment options include:
- Investments in companies that have a registered office or representative office in Greece, from €400,000;
- Investments in Greek shares, bonds or funds from €400,000;
- Deposit of €400,000 in a Greek bank for at least one year with the possibility of extension;
- Rent of a hotel or tourist facility for at least €400,000 and for 10 years;
- Starting in 2025, Greece plans to introduce a new investment direction – investment in startups from €250,000. The investment will be directed to Greek startups that meet the program criteria.
Investments in real estate can be returned after five years, while maintaining resident status, if the investor makes a new investment that meets the requirements of the program. For example, by selling real estate, one can invest in another property or assets provided by the program. Our company helps clients evaluate investment opportunities and provides legal support during transactions with real estate or other assets.
What is the procedure for obtaining a Golden Visa to Greece?
The process of obtaining a Golden Visa to Greece is clear and relatively fast, usually lasting from five months. We highlight the following main stages:
Verification of the source of funds and the identity of the investor. Before starting the process, careful preparation of documents is required, including confirmation of the source of funds, lack of criminal record and passing the Due Diligence procedure. This ensures that the applicant meets the program requirements and also minimizes the risks of refusal.
Selecting an investment form. The investor selects the type of investment (real estate, bonds, deposits, etc.) with the help of professional consultants. With our help, you can get support in choosing reliable objects and checking their compliance with the terms of the program.
Preparation of documents. It is necessary to collect documents in Ukraine and Greece, including a passport, proof of investment, European-style medical insurance and a receipt for payment of the state fee, as well as obtain a tax number in Greece.
Making an investment. After selecting an object or asset, the investor concludes a transaction (for example, a real estate purchase and sale agreement) and makes payment through a Greek bank.
Submitting an application for a residence permit. The application is submitted to the Department of Aliens and Migration in Greece. The investor only needs to visit Greece to submit biometric data (fingerprints), which is the last step of the process.
Once the application is approved, the investor and his family members receive residence permit cards.
We offer a comprehensive approach to the Golden Visa, providing clients with confidence in the legality, safety and efficiency of the process. Obtaining a Golden Visa, investment residence permit and citizenship in Greece is a painstaking process that requires the beneficial involvement of qualified lawyers. The law firm “Prikhodko & Partners” will help you:
- Prepare the necessary documents related to the investor and the source of funds to ensure compliance with Greek law and minimize the risks of refusal.
- Select the best and safest investment object, including real estate, taking into account your financial goals and program conditions.
- Prepare and check the necessary documents in Ukraine and Greece, minimizing the risk of errors and refusals.
- Support the process of concluding transactions, including the purchase of real estate or other investment transactions.
- Apply for a residence permit and arrange for the submission of biometric data in Greece.
- Provide advice on the conditions for obtaining Greek citizenship, including preparation for language and cultural exams.
- Provide legal support at all stages, from the initial consultation to obtaining a resident card.
To receive comprehensive legal advice on immigration law regarding the processing of a visa to Greece, fill out the form on the website and our lawyer will contact you shortly.
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Is it possible to get a consultation online if it is not possible to come to the office?
Of course. We provide consultations both online and in the office. Online consultation is possible in any convenient way for the client. It can be a video call through a convenient messenger or a video conference format.
Do we provide free consultations?
The answer to this question is no. We do not offer free consultations. If you have one or two questions, the lawyer/lawyer will of course tell you, but we provide detailed consultations on a paid basis.
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