How to obtain permanent residence status in Greece by investing
Secure Greece Permanent Residency by Investment: Your Gateway to a Sun-Soaked Lifestyle!
Are you contemplating relocating to the Mediterranean and immersing yourself in Greece’s rich culture and beautiful landscapes? Obtaining permanent residency in Greece through investment may be the best option for you. In this blog post, we provide valuable information and step-by-step instructions to obtain Permanent Residency in Greece through an investment.
Investment Options for Permanent Residence
The Golden Visa programme provides applicants with a variety of investment options. Real estate investment and business venture investment are the two most common approaches.
What is a Greek Golden Visa?
The Greek government launched the Golden Visa Programme in 2013 to encourage foreign investment and stimulate the economy. Under this programme, non-EU citizens can obtain a Greek residence permit by making an investment that meets certain criteria. The residence permit enables you to live and work in Greece and travel within the Schengen Area without a visa.
Eligibility Requirements
Certain requirements must be met to qualify for the Golden Visa programme in Greece
- Be a non-EU/EEA country citizen
- Above 18 years of age
- Clean Criminal record
- Have medical insurance for yourself and your family
- Proof of Income: You must provide evidence of sufficient funds to support yourself and any dependents during your stay in Greece
Investing in Greece Real Estate
Real estate investment is a popular option for acquiring permanent residency in Greece. By purchasing a property worth a minimum of €250,000 (except for the municipalities of Athens, Thessaloniki, Mykonos and Santorini where minimum investment is €500,000), you qualify for the Golden Visa. It is possible to invest in residential or commercial properties, as well as land. Additionally, you can rent out the property to generate additional income.
Investing in Business Ventures
Investing in business ventures is another method for obtaining permanent residency in Greece. An example is 10 years of a lease agreement, whether signed for hotel accommodations or furnished tourist residences in integrated tourist resorts. By establishing a company in Greece or investing at least €250,000 in an existing Greek company, you can qualify for the Golden Visa. This route is appropriate for entrepreneurs and individuals wishing to establish or expand business operations in Greece.
Other Investment options – Capital Transfer Investment
By engaging in a strategic financial transaction, such as transferring a significant sum of funds to a designated Greek bank account or making a prudent investment in Greek government bonds, individuals have the opportunity to secure permanent residence in Greece. This particular investment option presents a unique opportunity for individuals who may not be inclined towards real estate or business ventures yet still desire to reap the numerous benefits of obtaining permanent residence.
Tax Implications
Understanding the tax implications when relocating to Greece and acquiring permanent residency is essential. Greece provides foreign investors with favorable tax regimes, including exemptions and reduced tax rates on certain income categories. To ensure compliance with Greek tax laws and optimize your tax position, consulting with a tax expert is essential.
Application Process
Several stages are involved in submitting an application for permanent residency in Greece. These include collecting the necessary documents, submitting an application to the relevant authorities, undergoing a background check, and attending an appointment for biometric data collection. It is essential to adhere to the guidelines the Greek authorities provided and obtain professional assistance when necessary.
The chance to go to Greece and gain permanent residency by investing can be a game-changer for many people. You can start a new chapter of your life in this Mediterranean paradise by navigating the Golden Visa programme and integrating the investment possibilities and requirements.
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FAQ’s
1.Can you get residency in Greece by buying a property?
Buying property in Greece can lead to residency through the Golden Visa program, granting permanent residence to individuals by investing a minimum €250,000 in real estate.
Minimum amount increases to €500,000 for Greece real estate investments specifically in the municipalities of Athens, Thessaloniki, Mykonos and Santorini.
2.How long does it take to get PR in Greece?
The processing time for permanent residence applications in Greece can vary, but it typically takes several months to complete the evaluation and approval process.
3.Can I sell the property I purchased for the Golden Visa after obtaining permanent residence?
Yes, you have the freedom to sell the property at any time. However, you must maintain a minimum investment value to retain your permanent residence status.
