Greece Golden Visa Benefits
Greece Residency by Investment program, popularly known as Greece Golden Visa, is for non-European Union applicants, their families, including dependent children upto 24 and parents of both spouses to acquire permanent residency status in Greece within just three months. The minimum threshold for real estate investment is currently among Europe’s most competitive permanent residency schemes at 250K euros. Still, it is set to double to 500K euros post-April 30, 2023. The high-net-worth individuals can invest minimum 400,000 euros in government bonds and shares to qualify for golden visa program.
Greece golden visa benefits include a five-year residency permit and visa-free travel to 27 countries of the Schengen area in Europe for up to 90 days each six months. It also offers an insurance policy for the future, ensuring you always have a second place to call home. Permanent Resident holders can apply for Greece (EU) citizenship as well.
Is Greek Golden Visa worth it?
There are several golden visa programs in many European nations, like Portugal, Malta, Spain, etc., and the question arises among investors whether is Greece Golden Visa worth it. The answer is yes, as Greece’s golden visa program currently has a minimum threshold of investment, easy process, and affordable properties. The country has seen a massive rush of golden visa applications (2,432) in the last quarter of 20022 from wealthy investors worldwide after announcing changes in the program last September, which will be effective after April 30, 2023.
There was an increase of 125 per cent in the number of applications for this program in 2022 compared to the data from the same period in 2021, per the figures provided by the Ministry of Immigration and Asylum.
Greece Golden Visa Advantages
Greece golden visa advantages are significant in Europe due to the below mentioned reasons:
The minimum amount of 250,000 euros required to buy property for Golden Visa program is the lowest in Europe.
Affordable Real Estate
The property prices in Greece are cheaper than other countries in Europe offering golden visa programs. For minimum threshold investment, investors can buy various flats, houses, or commercial properties.
An applicant can purchase a property and submit residence permit application online. The investor needs a physical visit to the country for biometrics data only. The processing time for residence card is usually three to six months.
An investor can rent out their properties to generate returns on investment in a tourist country like Greece.
Greece allows residency card for family members of the investor also, which includes a spouse, children under 21 years of age, and parents of both partners.
The investor can maintain the permanent residence during their entire life if they do not sell the property. They are eligible for citizenship in Greece after seven years.
No minimum stay
No minimum stay is required in Greece to keep a permanent residence card. However, you must fulfil the stay criteria to apply for citizenship.<
No extra taxes
Due to double taxation treaty of Greece with various countries, such as the UK, the US and Russia foreigners pay taxes on property in Greece in the country only. Greek residence permit does not make an investor a tax resident if they live in the country for less than 183 days per year.
Contact DM Citizenship by Investment consultants in the UAE to know more about the benefits of the Greece Golden Visa. Our legal experts provide the best investment options and visa process assistance based on your requirements.