One of the most attractive golden visa programs worldwide, and progressively taking the number one spot in Europe. The Greece Golden Visa program has the lowest qualifying minimum among European Golden Visa programs, there is no stay requirement to obtain Greek permanent residency and citizenship can be obtained in seven years.
Booming — is the best word to describe the Greece property market. The country never ceases to be an attractive destination for tourists from around the world. The real estate market offers investors the potential for generous returns on appreciation and rental income.
Recently, Greece has established itself as a popular destination for medical tourism and business travel.
Investors can qualify for the Golden Visa in Greece by purchasing a minimum value of €500,000 into real estate property located in more popular areas of Greece such as: North, South, and Central Athens, Mykonos, Santorini and the Municipalities of Thessaloniki and Vari. In total these areas make up approximately only 10% of Greece.
The minimum investment requirement is reduced to €250,000 for all other areas across Greece, including Piraeus, on the outskirts of Athens.
Investors can qualify for the Greek Golden Visa by investing €250,000 in real estate outside of popular areas with a €500k minimum. As you’ll see by the map above, 90% of Greek territory qualifies for a minimum investment of €250k. Many of the €250k areas are up-and-coming and will likely turn over an exceptional profit for investors.
Investors can qualify for the Greek Golden Visa by investing €250,000 – €500,000 (depending on area) in a timeshare lease or furnished hotel residence. Investors must sign a 10-year lease on an eligible property. These properties must be certified as an eligible used hotel accommodation or tourist residence.
Foreign investors can also qualify for the Greek Golden Visa by depositing €400,000 into a Greek bank account. The investor must maintain this minimum amount in their bank account for the entire duration of the year.
Foreigners can also obtain the Greek Golden Visa by purchasing Greek government bonds totaling €400,000. The bonds must mature in at least three years.
Foreigners can also invest €400,000 into an established Greek business to qualify for the Greek Golden Visa. Qualifying investments include Greek companies, real estate investment companies, and closed-end funds.
When investing in Greek companies, the company must have its main registered office in Greece to qualify.
When investing in real estate investment companies, the company must invest exclusively in the local, real estate investment company market. They cannot be an international real estate company, and they must operate solely in Greece.
Similarly, those investing in closed-end funds must invest in funds that invest only in Greece. Eligible funds include hedge funds and closed-end investment funds.
Foreign investors can also qualify for the Greek Golden Visa by making a combined investment of €800,000 into shares, corporate bonds or Greek government bonds.
Like the above corporation investments, regulations exist in terms of qualifying companies and bonds. The investments must be legally registered and admitted for trading in Greece.
To qualify for the Golden Visa, the duration of these bonds must be five to seven years each.
Again, it’s important to confirm eligibility before making an investment.
Foreigners can invest €400,000 into a Greek mutual fund that invests solely in Greece to qualify.
Or, foreigners can obtain the Greek Golden Visa by investing at least €400,000 into an alternative investment fund that operates solely in Greece and invests in Greece property.
Selling your investment is not prohibited however in order to maintain and renew your residency permit you will need to prove that you have maintained your investment.
With its rich culture that stretches back millennia, Greece is one of the timeless jewels of Europe. Composed of the mainland peninsula and an archipelago of stunning islands that adorn the Eastern Mediterranean Sea, much of Greece is made up of mountainous rocky terrain surrounded by turquoise seas.
In an effort to raise funds and kick-start investment in the country after the global financing crisis, the Greek government launched the golden visa program in 2013. The Greece Golden Visa program has since become the most popular Golden Visa program on the market.
Greece who dealt much better with the Covid-19 pandemic than other European countries is once again welcoming tourists!