Greek Golden Visa (Residence Permit by Real Estate Acquisition)
Lift the restrictions off free movement throughout the Schengen area when you and your family apply under the Greek Golden Visa programme. Greece welcomes you to become one of its warm residents by investing in Greece’s promising and rich property sector. Requirements to renew your visa are only every five years for life – even if you choose to live elsewhere!
Europe’s most affordable Golden Visa
Unlock visa-free travel across the Schengen area with an investment of €250,000 in Greece’s real estate market. This is the lowest investment requirement of any Golden Visa scheme throughout Europe. Thanks to its simple application process and high approval rate, the Greek residence permit is much more accessible in comparison to other EU member states.
A residency programme for the whole family
Greece’s Golden Visa secures residency for you and your spouse, along with any of your dependent children up to the age of 21. You can even request permits for your parents plus your spouse’s parents, which makes this an exceptionally attractive Golden Visa for families.
Applicants and their family members are not permitted to work under the Greek residence permit. However, you, as the applicant, have unrestricted access to both education and healthcare sectors, and are free to establish as well as run a business in Greece.
From investor to resident in just two months
If speed is essential, the Greek residence permit is an ideal match for you! Once you have made your real estate investment, Coates Global can assist you through the application process which usually takes between 6 to 8 weeks. We liaise with our office based in Athens to ensure that your documents are filed with the relevant immigration authority as quickly as possible.
All the benefits without having to reside
Although this is a residency programme, there is no official requirement to reside in Greece for any amount of time. In fact, the only time you must visit Greece is to complete the biometric capturing process so that your European ID card may be issued. However, with over 300 days of sunshine annually, a rich cultural heritage and countless seductive beaches, it would be a crime not to visit this beautiful country at least once a year!
A range of property investment options
From slick city apartments to dreamy island villas, Greece offers a diverse property portfolio to suit any investor needs. Whether you are looking to purchase a single property or invest in multiple properties situated all over the mainland of Greece or its surrounding islands – the choice is yours! You can even buy commercial property if you so wish and the only requirement is that the total value of your property or properties is at least €250,000.
Since your residency permit must be renewed every five years, you will need to retain your property for as long as you wish to remain a Greek resident. But there are no restrictions on letting your property as either a holiday rental or fixed-term tenancy – this allows you to generate an average rental yield of around 5% per year!
But isn’t Greece’s economy still struggling?
Although Greece has struggled over the past decade, its GDP has now grown for six consecutive quarters since the beginning of 2017. Greece successfully exited its bailouts in August 2018 and the European Commission has predicted annual economic growth of 2.5% in both 2018 and 2019.
Greek real estate prices have still not recovered from pre-recession levels with Athens property still 42% below its 2007 value. However, the latest figures recorded by the Bank of Greece for Q2 2018 confirm the first year-on-year property price increases since 2008. This means that now is the perfect time to take advantage of rock-bottom prices before the market grows any further.
Choose the Greece residency by investment programme if you:
- Have at least €250,000 to invest in real estate;
- Want to gain residency for you and your family;
- Are not planning to spend a lot of time in Greece;
- Would like to earn rental income on your investment property
You should consider a different Golden Visa route if:
- You or your family wish to be employed;
- You want to apply for citizenship without having to fully reside in the country;
- You do not want to hold onto your property indefinitely
For more information you can download our Greek Golden Visa e-brochure. Alternatively, if you are ready to discuss the requirements tailored to your personal needs, contact our Greece representative today!
Take an in-depth look at the requirements of Cyprus’ Citizenship by Investment programme