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The Greek government launched the Golden Residence Permit Program or Golden Visa in 2012 to stimulate the economy and resolve the European debt crisis it had in 2010. The Greek Golden Visa is a long-term residence visa obtained by buying a property for a period of 5 years, renewed in every 5 years. The Greek prime minister recently announced that he would raise the threshold for the golden visa from 250,000 euros to 500,000 euros.

  • The investment amount for Greece Golden Visa property acquisition route will be increased to €500,000 from €250,000.
  • With this change, the Greek government aims to make Greece’s real estate market more affordable for the locals.
  • No geographical changes or restrictions for property acquisition have been announced.
  • The exact date when the changes will come into effect is to be clarified soon.
Eligibility Criteria for Greece Golden Visa Program

In order to qualify for a Golden Visa in Greece, you must meet the following requirements:

  •  Be a non-EU/EEA country citizen
  •  Be at least 18 years of age
  •  Have a clean criminal record
  •  Have medical insurance for yourself and your family
  •  Be of good character

As of 2021, you no longer need to visit Greece in person in order to start your application.

Family members allowed
  • Mates
  • Spouse and mother
  • Unmarried children under the age of 18
  • Over the age of 18, unmarried and attending full-time school, financially dependent on their parents’ children
Golden Visa Greece Program Steps and Timeline

The Greek Golden Visa application process has a fairly straightforward order.

Step 1. Speak to Get Golden Visa Team and Choose Your Property 

To complete this step, you’ll need to determine the investment criteria and select the property you’d like to invest in. You can choose various features to invest in so long as the added value thereof is equal to or above €250,000. Our team can help you find the property that suits your needs.

 

This step can be completed by obtaining a Greek Non-Resident Tax number and opening a Greek bank account. And as an optional step, you can have the execution of power of attorney.

 

Step 3. Acquire the Property

This step consists of executing the ‘Legal Due Diligence’ of the property by a lawyer on your behalf. Afterwhich, you’ll need to acquire the promissory sale and purchase agreement and the execution of a public deed.

 

Step 4. Start Your Application

To get through this step, you’ll need to prepare all the required documents regarding the Golden Visa application. Usually, hiring a lawyer is a smart idea because this might be overwhelming.

 

Step 5. Visit Greece

Here you’ll need to submit all the biometric data to the relevant authorities in Greece.

 

Step 6. Get Your Greece Golden Visa Approval

The authorities do this step, your Golden visa application will be approved, and then you’ll be issued a Golden Visa Residence Card.

 

Step 7. Renew Your Golden Visa in Greece

Every five years, you can apply to renew your Golden Visa residence card, making it easy to access the permanent residence.

 

Step 8. Apply For Citizenship

Living there for seven years and paying taxes would make you eligible to apply for citizenship and a Greek passport. However, this is an opportunity with not much information on it.

 

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Simard & Associates brings together a team of experienced immigration lawyers and consultants team with years of experience in the industry and strong multi-dimensional channels to help you succeed in your immigration journey. Stay tuned to Simard & Associates for more information on immigration life abroad. If you are interested, please feel free to contact us.