What is a Golden Visa in Greece?
The Greece Golden Visa Program is a residence-by-investment program launched in 2013 that enables non-EU nationals and their family members to obtain permanent residence permits in Greece. The residence permits may be renewed every five years. The minimum investment must be 250.000 euro.
What is the Schengen Agreement?
The Schengen Agreement signed on June 14, 1985, is a treaty that led most of the European countries towards the abolishment of their national borders, to build a Europe without borders known as “Schengen Area”.
The Schengen Area operates very much like a single state for international travel purposes with external border controls for travelers entering and exiting the area, and common visas, but with no internal border controls.It currently consists of 26 European countries covering a population of over 400 million people and an area of 4,312,099 square kilometres.
Τhese countries are: Austria, Belgium, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland.
How can I obtain a residency permit in Greece, if I am not a citizen of the European Union?
The residency permits in Greece for you and your family,is graded upon purchasing a property as an individual.
The property must have a value of 250.000 € or higher. If the owner has acquired the property through a legal entity, the applicant must own 100% of the company shares.
Can I share the investment with another party ?
Only spouses can share the investment and jointly own the property of total value 250.000 €. Τhe right of residence is granted only if the amount invested by each co-owner is a minimum 250.000 €.
Can 2 families buy one property and get 2 Residency Permits?
Yes they can. The property must have a Property Purchase Contract of 500.000 € and up and the ownership must be 50%-50%.
In general, for every 250.000€ invested a new Residency Permit can be obtained.
How I start?
You must visit the Greek consulate in your country and apply for a special purpose VISA to Greece. You will have to prove your funds for the property purchase. This can be verified by your bank.
What documents do I need to bring with me for my first visit to Greece before I buy a property?
Essential paperwork needed for your Golden Visa application and opening of Greek bank account before the property acquisition include the official issuance & translation of the following documents in English:
– Proof of home permanent address.
– A mobile phone bill.
– Proof of profession and annual income.
– Proof of funds such as bank statements.
Citizens of Which Countries need Visa to travel to Greece?
Passport holders coming form the following countries do not need a Visa in order to visit Greece :
Vatican City, San Marino, Andorra, Antigua & Barbuda, Argentina, Australia, Venezuela, Brazil, Guatemala, El Salvador, USA, Japan, Israel, Canada, Costa Rica, Croatia, Malaysia, Mauritius, Mexico, Monaco, Barbados, Bahamas, Brunei, New Zealand, Nicaragua, South Korea, Honduras, Uruguay, Panama, Paraguay, Seychelles, Singapore, Chile.
If you are a citizen of a country that is not listed above then you need a “Type D—national visa” in order to enter Greece. Please contact the Greek Consulate of your country to obtain it.
Are there extra expences?
Yes there are extra purchase costs. There is a transfer tax. From January 1st, 2014 the transfer tax became 3%. You will also be charged for the notary (1%) and if you choose to have a Greek lawyer (not mandatory but we always recommend to have a Greek lawyer, we can introduce you to one) another 1%. There is also charge of land registry if it is about a single house that ranges from 0,5-0,7%.
The amount charged for service fees depends on the value of the property and it goes down as the property value rises. Note that the minimum amount of €250.000 refers to the price indicated on the contract and does not include taxes.
Can I buy more than one property?
Yes. You are entitled to a European Residency permit irrespective of whether you own one or more properties, commercial and residential. However their combined value must be equal to or greater than 250.000 €.
Can I rent the property after purchase?
Yes, you have the right to rent your property immediately after the acquisition and enjoy income from the rent.
Which family members can benefit from the same Golden Visa investment?
Spouses who are over the age of 21, as well as unwed children under the age of 21.Family members are issued a residence permit of the same duration with the main applicant. Important to note that unmarried partners are not entitled to a residence permit.
Who deals with the authorities for the residency permit ?
Your Greek lawyer does. We will propose you the lawyers we cooperate with successfully for years.
The lawyer will take care of:
-The application process for the initial residence permit,
– the submission of any additional required documentation – and finally the collection of the receipt of the residence permit.
Greek Exclusive deals with all aspects regarding the purchase of the property.
As soon as your lawyer submits the residency application you will receive a confirmation receipt that serves as a one year provisional residency permit. You can reside legally in the country for the duration of the confirmation receipt (one year) and you are entitled to all the benefits of the final permit. In the mean time (around two months) you will receive the final residency permit certificate.
Is it obligatory to go through your company for the Gold Visa apllication?
Of course not, but we have the experience and the means to do it fast and effectively.
What documents do I need for my residency application?
The main document that is required is the proof of purchase for the property. Also a health insurance that will cover your medical expenses if needed. You may obtain the insurance coverage in Greece from a local company.
How long is the residency permit valid ?
The Golden Visa for Greece is issued for five (5) years and can be renewed indefinitely as long as you maintain the investment (property) .
Does the residence permit leads to a citizenship ?
No. The years covered by the residence permit for real estate owners are not taken into account for the years required for obtaining citizenship by residents.
However, if you ultimately choose to live in Greece, then after seven years of continuous residence, you can also apply for Greek citizenship.
In this case you must also be able to prove you have ties to the country and knowledge of the Greek language and culture, at least on a basic level.
Does the EU Residency Permit provides access to education and health services ?
Yes, The holders of the residence permit have access to public education, exactly as Greek citizens do.
Residence permit holders and their family members, must have insurance that covers their healthcare and medical care expenses.
Can I purchase and drive a car with Greek license plates ?
Yes, under the specific regulations of the Ministry of Transport, which apply to non EU citizens.
Can I travel to other European Union countries as a Residency Permit Holder?
Yes, You can travel with your passport and the residency permit to all countries that are part of the European Union, as well as, to all countries that belong to the Schengen Area:Austria, Belgium, France, Germany, Denmark, Estonia, Spain, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Hungary, Poland, Portugal, Slovakia, Slovenia, Sweden, Czech Republic and Finland.You may also travel to these Non-EU countries that belong to the Schengen Area:Iceland, Norway, Switzerland and Liechtenstein.Please note that after the residence permit has been issued, you may also travel to any Schengen country directly from your country. You do not need to go through Greece first.
What are my obligations as a property owner in Greece?
You must apply for a tax registry number. As a property owner you are required to have it. You must declare your property by filing the E9 form with the local tax office. You do this only once. Every property has a yearly tax called ENFIA that is calculated from the State according to the size and the location of the property.
If my new property needs some services like cleaning, maintenance etc. Can you take care of all these?
We can suggest you the best management offices in the location of the property. You can discuss with them independently the services you need.
We cooperate with the best management offices and the best professionals for every need you may have, From bookings to total management to property renovation.
What are the main benefits of the Greek Golden Visa ?
- Investment needed is relatively lower than in most other EU countries with Golden Visa programs.
- You can extend the visa to include your family members, like your spouse, (unmarried) children under 21 years of age, and dependent parents of either yourself or your spouse.
- You and your family members will enjoy visa-free travel to the Schengen Zone.
- There are no requirements to live in Greece for any duration in order to renew the residence permit.
- You can choose to rent out your property after purchase.
- You can apply for Greek citizenship after seven years of residence. Greece is an EU Member State, so you would have access to the EU free market and visa-free travel to more than a hundred countries.
- You can live, work, and invest in Greece.
- You have access to Greek education and healthcare