What is the Greece Golden Visa program?

• The Greece Golden Visa is a residency-by-investment program that grants a five-year residency permit to non-EU citizens who make a significant investment in Greece, most commonly in real estate. It offers visa-free travel within the Schengen Area.

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Can I still obtain the Greece Golden Visa with a €250,000 investment, particularly in commercial real estate?

• Yes, absolutely. The increased €500,000 threshold primarily targets residential properties in popular, high-demand areas like Central, North, and South Athens, Thessaloniki, Mykonos, and Santorini. For commercial converted properties across Greece, the minimum investment remains €250,000. The €250,000 threshold also still applies to residential properties in all other areas of Greece not listed as high-demand.

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What are the potential advantages of choosing a commercial property over residential (in a €250,000 area)?

• Broader Location Availability: Commercial properties at €250,000 are available in a much wider range of locations across Greece, including major cities and regional centers, without the "hotspot" restrictions of residential properties.

• Potentially Higher Rental Yields: In some cases, commercial properties can offer more stable or higher rental yields compared to residential, depending on the market and tenant.

• Diversification: For investors looking to diversify their portfolio beyond residential, commercial real estate offers a different asset class.

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Can I include my family in the application?

• Yes, the main applicant can include their spouse, financially dependent children under 21 (or up to 24 if they are students and financially dependent), and financially dependent parents of both the applicant and their spouse.

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Does the Golden Visa lead to Greek citizenship or a passport?

• The Golden Visa primarily grants residency. While it doesn't automatically lead to citizenship, applicants can apply for citizenship after seven years of legal residency in Greece, provided they meet specific criteria, including demonstrating sufficient ties to Greece and passing a Greek language test.

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What are the main benefits of the Greece Golden Visa?

• Key benefits include visa-free travel within the Schengen Area, residency in an EU country, potential for future EU citizenship, the right to rent out purchased property, and a relatively low investment threshold compared to other similar programs (especially in the €250,000 areas).

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What documents are required for the application?

• Required documents typically include a valid passport, proof of investment (e.g., property title deed), health insurance, a criminal record certificate from your home country, and various application forms and administrative documents. Specific requirements can vary and should be checked with a legal professional.

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How long does the application process take?

• The processing time can vary, but generally, it takes between 3 to 6 months from the submission of all required documents to the issuance of the residency permit. This can be influenced by administrative backlogs.

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Can I work in Greece with a Golden Visa?

• The Golden Visa grants the right to reside and reside in Greece but does not grant the right to work as an employee. However, you can establish and operate a business in Greece or be a shareholder in a Greek company

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What are the tax implications of obtaining a Golden Visa?

• Obtaining a Golden Visa does not automatically make you a tax resident of Greece. Tax residency is typically determined by spending more than 183 days in Greece within a calendar year. If you become a tax resident, you will be liable for Greek income tax on your worldwide income.

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What happens after five years? How do I renew my permit?

• The permit is valid for five years and can be renewed indefinitely, provided the investment is maintained. For real estate, this means still owning the property. The renewal process involves submitting an updated application and proof that the investment is still held.

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Are there any additional costs besides the investment?

• Yes, applicants should factor in additional costs such as property transfer tax (currently 3.09%), legal fees, notary fees, due diligence fees, government application fees, health insurance, and potentially real estate agent fees. These can add approximately 10-15% to the total investment.

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Do I need to visit Greece to apply for the Golden Visa?

• Yes, you typically need to enter Greece at least once to submit biometric data (fingerprints) for the residency card. It is also advisable to visit at least once during the application process for property viewing and to sign necessary documents.

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What happens after five years? How do I renew my permit?

• The permit is valid for five years and can be renewed indefinitely, provided the investment is maintained. For real estate, this means still owning the property. The renewal process involves submitting an updated application and proof that the investment is still held.

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Can I finance the investment with a loan?

• The investment must be fully funded from outside Greece. Loans or mortgages from Greek banks are not eligible for Golden Visa qualification.

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Can the Golden Visa be revoked?

• Yes, if you:

  • Sell the property without replacing it with another qualifying property

  • Engage in illegal activities in Greece/EU

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Why choose Greece over other EU Golden Visa countries?

• Lowest entry point in Europe (€250,000)

• No stay requirement (unlike Portugal/Spain)

• Quick process and family inclusion

• Lifestyle benefits: Mediterranean climate, Athens Riviera, islands, culture, and education opportunities

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