What Is a Golden Visa in Greece?

Share:

In this article, we’ll answer the question: what is a golden visa in Greece? Latitude is an investment migration authority, so we have the expert knowledge to advise on such matters. You can rely on us for the most comprehensive Residency and Citizenship by Investment overview.

What Is a Golden Visa?

Before answering that question, let’s break up your query: what is a golden visa in Greece? So, we’ll take Greece out of the equation for the time being. Don’t worry, we’ll return to Hellenic matters later.

In our A-Z of Investment Migration, we define what a golden visa is. According to this glossary, G is for golden visa: “Golden Visas are Residency-by-Investment programmes offered by various countries, granting foreign investors and their families the right to live in the host country.” “You must make a significant financial contribution, such as real estate investment or capital transfer, to qualify for the visa.”

If you can easily visualize a golden visa, Residency by Investment is just as straightforward. You earn a residency permit, golden visa, by investing. It’s a you-scratch-my-back-I’ll-scratch-yours arrangement.

Our Step-by-Step Guide to Qualifying for a Greek Golden Visa

Picture a Greek Golden Visa fixed to the top rung of a ladder or stuck to the ground at the end of a path. Fortunately, we can point you in the right direction on how to ascend or progress. By returning to our A-Z of Investment Migration which reveals that whilst a golden visa is “the unofficial title for many RBI programmes, it is the official name of both Greece Residency by Investment and UAE Residency by Investment.”

Step 1: Be a Third-Country National of Legal Age

Eligibility for the Greek Golden Visa starts at 18 years of age. You can only apply if you’re a third-country national. That means you can’t be a citizen of any country in the European Union.

Step 2: Certify Your Application

You need to provide evidence of health insurance to cover any stay in Greece (there is no minimal physical residence requirement). In addition, you must provide proof that your children are dependent on you. On the other hand, parents are automatically considered dependent on their children. You can include dependent children up to the age of 21, your spouse, parents, and in-laws.

Furthermore, you must establish that your funds come from a legal source. There is no need to provide an employment contract. The Greek Golden Visa is popular with pensioners who either live in their investments or lease them out and receive rental income.

Step 3: Select a Property to Buy

The main Citizenship by Investment option in Greece is the real estate avenue. You can purchase either commercial or residential units. They can be on the Greek mainland or islands.

The common denominator is that properties must be worth at least €250,000, although that minimum price increases to €500,000 in certain areas. These include North, South, and Central Athens, Mykonos, Santorini, and the municipality of Thessaloniki. Once you’ve bought real estate, you need to maintain ownership for as long as you wish to maintain residency in Greece.

Step 4: Fill in an Application Form

The final stage to obtaining a Greek Golden Visa, AKA initial permanent residence permit for investors (art. 20B), is completing some paperwork. You’ll need to supply 4 recently-taken digital passport photos. Add a certified copy of a valid passport or other travel document recognized by Greece.

What Next?

We’ve told you what a Greek Golden Visa is. Your next step is to apply. To avoid any complications with the Hellenic Republic Ministry of Migration and Asylum, don’t delay and contact RIF Trust, Greek Residency by Investment specialists, today.