Greece's Residency by Investment program, commonly known as the Golden Visa, is one of the most attractive options for investors seeking European residency. With a relatively low investment threshold, fast processing times, and numerous benefits, it has become a top choice for non-EU nationals. This article explores the key benefits, costs, and requirements of obtaining Greek residency through investment.

Benefits of Greece's Residency by Investment Program

1. Visa-Free Travel in the Schengen Zone

One of the biggest advantages of Greece's Golden Visa is the ability to travel freely within the Schengen Area, which includes 27 European countries. Holders can stay in any Schengen country for up to 90 days within a 180-day period without needing additional visas.

2. Pathway to Permanent Residency and Citizenship

After maintaining residency for five years, investors may apply for permanent residency. While Greece does not offer direct citizenship through investment, after seven years of legal residence, applicants may be eligible to apply for naturalization.

3. Family Inclusion

The Greek Golden Visa allows investors to include spouses, children under 21, and dependent parents in the application, providing the whole family with residency rights in Europe.

4. No Physical Residency Requirement

Unlike some other European residency programs, Greece does not require investors to live in the country to maintain their visa. Only a short visit every few years is needed to renew the residency permit.

5. Favorable Tax Regime

Greece offers a non-dom tax regime, allowing foreign residents to benefit from low tax rates on foreign-sourced income. Additionally, property owners may qualify for tax incentives.

Investment Options and Costs

1. Real Estate Investment (Most Popular Option)

The most common way to obtain Greek residency is by purchasing property worth at least €250,000 (as of 2024). This can be residential or commercial real estate, and investors can buy one or multiple properties to meet the threshold.

2. Alternative Investment Routes

While real estate is the primary route, Greece also offers residency through:

  • €400,000 investment in Greek government bonds
  • €400,000 deposit in a Greek bank
  • €400,000 investment in Greek company shares or mutual funds

However, real estate remains the most popular due to its lower minimum requirement and potential for rental income.

Requirements for Greece's Golden Visa

1. Eligibility Criteria

  • Applicants must be non-EU/EEA/Swiss citizens.
  • They must have a clean criminal record.
  • The investment must be legally documented and maintained for the duration of the residency.

2. Required Documents

  • Valid passport
  • Proof of investment (property deed, bank deposit certificate, etc.)
  • Health insurance covering Greece
  • Clean criminal record certificate
  • Application forms and fees

3. Application Process

  • Choose an investment option (real estate, bonds, etc.).
  • Complete the purchase or investment and gather all legal documents.
  • Apply for residency at a Greek consulate or inside Greece.
  • Biometric data collection (fingerprints and photo).
  • Receive the Golden Visa, typically within 2-6 months.

Conclusion

Greece's Residency by Investment program offers a cost-effective and flexible way to gain European residency with minimal stay requirements. With benefits like Schengen access, family inclusion, and a potential path to citizenship, it remains one of the most sought-after Golden Visa programs in Europe. Whether through real estate or alternative investments, Greece provides a straightforward and rewarding option for global investors.