Great Opportunities, Greece has long been a beautiful destination for those people who are looking to immigrate, rich, and a lively lifestyle. The Greece Golden Visa, a residency-by-investment program, offers an outstanding opportunity for non-EU citizens to get residence in Greece.
One
of the main benefits of this program is that it agrees investors to bring their
family along, offering a way to live in Greece and travel the entire Schengen
Area visa-free. Moreover, Greece’s Golden Visa stands out likened to other EU
Golden Visas due to its comparatively low investment threshold and promising
conditions.
In
this post we will tell you regarding the benefits of the Greece Golden Visa,
the recent changes, and how to apply for it in 2024.
Greece’s
Golden Visa Program Purpose
Greece’s
Golden Visa program was announced to invite foreign investment in real estate
and bolster the Greek economy. By given residency rights in exchange for important
property investments, the program helps inspire the housing market and general
financial health. In return, investors can get to all the benefits that come
with being a citizen of an EU member state, containing the right to live in
Greece, access to education, healthcare, and visa-free travel across the
Schengen Zone.
Can
You Bring Your Family to Live in Greece?
Yes,
one of the main landscapes of the Greece Golden Visa is its lavish family
reunification policy. Along with the main applicant, the Golden Visa permits
for the inclusion of:
Spouse
of the applicant’s.
Dependent
children under the age of 21
The
parents of both the spouse and the main applicant.
The
Golden Visa is an eye-catching option for investors looking to shuffle their
families to a steady, beautiful country with access to Europe.
Can
You Work in Greece with a Golden Visa?
While
the Golden Visa permits residency, it does not routinely grant you the right to
work as an employee in Greece. However, you can involve in business events,
such as starting a company, and freelance work may be permissible under definite
conditions. If you’re an administrative of a company in which you’ve invested,
you may be capable to work in that capacity, but further work permits would be compulsory
for standard employment as per the Greece local labor protection law.
Minimum
Investment for the Greece Golden Visa 2024 Changes
The
Greece Golden Visa program has undertaken important changes as of August 31, 2024,
specially concerning investment thresholds:
An
Amount of €800,000 is required for properties in high-demand zones such as Thessaloniki,
Mykonos, Athens, Santorini, and larger islands.
€400,000:
Applies to properties situated in the rest of Greece.
€250,000:
The smallest investment remains for specific property types, including:
Commercial properties renewed to industrial buildings, residential use, inactive
for five years being converted to residential use, and registered buildings
undergoing restoration.
€400,000
or €800,000 Investments must be in properties with a minimum size of 120 square
meters.
However,
there is no smallest size for properties under the €250,000 beginning.
Additionally, short-term payments, such as Airbnb, are banned for Golden Visa
properties, although long-term payments are still allowed.
Step-by-Step
Application Method for Greece’s Golden Visa
1#
Choose Your Investment Path first (Property Purchase or Investment)
Decide
if you will invest in a government bonds, property, a company, or other
eligible choices.
For
real estate, decide between the €250,000, €400,000, or €800,000 thresholds
based on your preferences.
2#
Set Up Legal and Financial Infrastructure
Get
a Greek Tax Identification Number (AFM).
Open
a Greek bank account for transactions.
Applicant
have to appoint a legal representative to assist in property purchase and the
visa application process.
3#
Make the Investment
If
anyone chose opting for real estate, conduct due diligence on the property.
Complete
the purchase and get the possession title deed.
4#
Prepare Documentation: Gather required documents, including:
- Passport
- Recent passport-sized photos.
- Health insurance Proof.
- Financial documents showing the investment.
- No Criminal record certificate.
- All documents must be translated into Greek and certified.
5#
Submit the Application
Applicant
can submit his Golden Visa application as
https://migration.gov.gr/en/golden-visa/
Provide
biometric data and all compulsory documents at the local immigration office.
6#
Await Decision
A
decision will be confirmed within a few months.
After
approval, you’ll receive a residence permit valid for two years, with successive
renewals every two years.
7#
Maintain the Greece Golden Visa for 7 Years to Get Naturalized
Applicants
have to stay in Greece for at least 7 days per year to retain the visa.
Continue
to meet the investment and residency necessities to confirm renewal.
8# Pathway to Citizenship (Optional)
After 7 years of legal residency in Greece, candidate may apply for Greek citizenship, given you meet language and integration necessities.
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