Greece Residency
by Investment

Greece’s allure lies in its rich historical significance, breathtaking landscapes, and vibrant cultural tapestry. From the ancient ruins of Athens to the sun-kissed beaches of the Greek islands, the country offers a mesmerizing blend of history, natural beauty, and Mediterranean charm. Its economy has rebounded in recent years, showcasing steady growth, reduced unemployment rates, and improved fiscal health. This economic stability, coupled with its thriving tourism sector, makes Greece an enticing destination for investors seeking both financial opportunity and lifestyle enhancement.

NTL Trust offers expert advice and assistance with Greece’s popular Golden Visa (Residency by Investment) programme.

Benefits of Greece
Residency by Investment program

The Greece Golden Visa offers a streamlined and efficient application process, making it one of the easiest routes to obtain a European Union residence permit. This simplicity reduces bureaucratic hurdles and expedites the path to residency for investors and their families.

Unlike some residency programs, the Greece Golden Visa does not impose a mandatory residency requirement. This means that holders are not obliged to reside in Greece to maintain their residency status, providing them with the freedom to manage their investments and lifestyle preferences without being tethered to a specific location.

Golden Visa holders enjoy the freedom to live, work, and pursue educational opportunities within Greece. This unrestricted access to the Greek economy and society enables investors and their families to fully immerse themselves in the local culture, pursue career opportunities, and access world-class education and healthcare services.

As European Union residents, Golden Visa holders benefit from the Schengen area. This allows for hassle-free travel across multiple European countries, facilitating business ventures, leisure travel, and cultural exploration.

Holders of the Greece Golden Visa have the option to pursue Greek citizenship after seven continuous years of tax residency in Greece. This pathway to citizenship opens up a range of additional benefits, including full voting rights, eligibility for public office, and unrestricted travel and residence rights within the European Union.

Greece recognizes and accepts dual citizenship, allowing Golden Visa holders to retain their original citizenship while enjoying the benefits of Greek residency and citizenship. This flexibility is particularly valuable for individuals who wish to maintain ties with their home country while availing themselves of the opportunities offered by Greek residency and citizenship.

Golden Visa holders may qualify for beneficial tax regimes available to non-habitual residents in Greece. These tax advantages can include reduced income tax obligations, exemptions from wealth taxes, and other incentives designed to attract high-net-worth individuals and investors to Greece.

The Greece Golden Visa serves as an excellent contingency plan for individuals and families seeking to hedge against political and economic instability in their home countries. By providing a secure pathway to European residency and citizenship, the Golden Visa offers peace of mind and financial security in uncertain times.

Residency Routes

Real estate for individuals and families:

Since the latest update starting September of 2024, real estate route is undergoing a division to following categories:

High-demand areas: Contribution of at least €800,000 in areas such as Attika (including Athens), Thessaloniki, Mykonos, Santorini, and islands with populations around 3,100 residents. This substantial increase reflects the growing demand and exclusivity of these regions.

Low demand areas: Contribution of at least €400,000 for properties in other parts of the country. This aims to promote investment across a broader range of locations, balancing growth between urban centers and more rural areas.

Commercial conversions: Contribution of at least €250,000 for industrial or commercial properties, provided they are converted into residential units. Notably, this category does not have a minimum size requirement, making it an attractive option for investors looking to capitalize on smaller properties or those in need of renovation.

Property Requirements: To qualify for the Golden Visa, properties must meet specific criteria, including a minimum size of 120 square meters and a long-term lease requirement (exception is the commercial conversion category). This ensures that the properties are substantial in both size and use, aligning with the government’s focus on sustainable development.

Routes for individuals:

The Residency by investment program offers multiple investment options for obtaining Greek residency for individuals:

A. Contribution of at least €400,000 to a company headquartered or established in Greece
B. A contribution of at least €400,000 to a real estate investment company (REIC) whose purpose is to invest exclusively in Greece, to acquire shares in order to increase its share capital
C. A contribution of €400,000 or more to a venture capital company (VCC) for the acquisition of shares or a capital contribution to a venture capital fund (VCF)
D. Purchase of Greek treasury bonds with a purchase price of at least €400,000 and a remaining duration at the time of purchase of at least three years through a credit institution established in Greece, which is also, their custodian
E. Term deposit of at least €400.000 in a local credit institution for a period of at least one year with a standing order for renewal
F. Purchase of shares, corporate bonds or Greek treasury bonds listed for trading or traded on regulated markets or multilateral trading venues operating in Greece for an amount of at least €800,000
G. Purchase of shares with an acquisition price of at least €400.000 in a mutual fund that was established in Greece or another country and whose purpose is to invest exclusively in shares, corporate bonds or the Greek treasury
H. Purchase of shares worth at least €400,000 in an Alternative Investment Fund (AIF) which has been established in Greece or another EU Member State and whose purpose is to invest exclusively in real estate in Greece.

Non-Dom Alternative Tax Regime Annual Flat Tax Rate:

Participants in the Non-Dom Alternative Tax Regime are subject to an annual flat tax rate of 7% for a period of 15 years, regardless of the size of their total global income. Investment Requirement: To qualify for the Non-Dom Alternative Tax Regime, participants must make an investment of at least €500,000 in real estate, securities, or shares of Greek entities.

Timeline & Process

The process of obtaining Greek residency through the residency by investment program involves several key steps

Selecting Property for real estate route

Investors can choose to select a property remotely or through a personal visit to Greece. Once a property is selected, a legal verification process is conducted, and a booking is made.
Registration and Tax Procedures for all routes

This step involves obtaining a Greek tax number, opening a bank account, signing purchase agreements, and completing necessary registrations with the relevant authorities.
Residence Permit Application for all routes

Investors submit an electronic application for a residence permit through the Ministry of Migration and Asylum's online portal. This application is accompanied by required documents and supporting evidence of the investment.
Biometrics for all routes

Within two months of submitting the application, investors and their family members undergo biometric data collection at a designated migration service center in Greece.
Obtaining Residence Permit for all routes

Upon successful completion of the application process and biometrics, investors receive a plastic residence permit card, granting them and their families the right to reside in Greece and enjoy the benefits of European Union residency.

FAQS

Can I renew my residence permit for property ownership?

Yes, holders of the Permanent Residence Permit for Property Owners can renew their permits every five years, provided that the property remains owned by the applicant and contractual agreements remain valid.

What are the investment categories for the Greek Golden Visa?

The Greek Golden Visa program offers several investment categories, including contributions to companies, venture capital, real estate investments, securities, bank deposits, and more. Each investment category has its own minimum investment requirements and eligibility criteria.