Greek Golden Visa Program: New Minimum Investment Amount
The Greek Golden Visa program has undergone several changes over the years, including the recent ones. What is new? How to invest?
Minimum investment - what are my options?
The most common investment route for obtaining a Golden Visa or residency in Greece is through real estate. Investors who opt for this route can choose from different investment tiers based on the amount they are willing to invest.
Real Estate Investment
€250,000 Tier: Under this tier, investors are required to make a minimum investment of €250,000 in Greek residential or commercial property. The property can be new or old and located anywhere in Greece. This tier is suitable for individuals seeking to acquire a property for personal use or investment purposes while gaining residency benefits.
€400,000 Tier: In this tier, investors are required to invest a minimum of €400,000 in real estate. However, this investment must be made in areas characterized by high tourism or areas that contribute to national development. The properties in these areas are usually located in popular tourist destinations or regions undergoing significant infrastructure development.
€800,000 Tier: This tier caters to investors seeking to make a more substantial investment. It requires a minimum investment of €800,000 in real estate, which can be spread across multiple properties. This tier opens up opportunities for acquiring larger or multiple properties, providing investors with greater flexibility and potential for higher returns.
Business Investment
Apart from real estate, Greece also offers an alternative investment tier for individuals interested in business ventures or investment opportunities.
€250,000 Tier: Under this tier, investors can obtain a Golden Visa or residency by making a minimum investment of €250,000 in a Greek company. This investment can be in the form of purchasing shares, establishing a new business, or contributing to an existing enterprise. This option enables investors to actively participate in Greece's business landscape and benefit from potential returns on their investment.
Additional Benefits and Considerations
Family Inclusion: Both the real estate and business investment tiers allow investors to include their immediate family members, such as spouse, children, and dependent parents, in the Golden Visa or residency application.
Visa-Free Travel: Regardless of the investment tier chosen, successful applicants enjoy visa-free travel within the Schengen Area for up to 90 days within a 180-day period.
Residency and Citizenship Pathway: While the Golden Visa program grants residency, investors who wish to pursue Greek citizenship must meet additional criteria, including maintaining residency for a specified period and demonstrating proficiency in the Greek language.
Why Golden Visa?
The benefits of the Golden Visa program in Greece are numerous. Successful applicants and their family members receive residency permits that allow them to live and work in Greece. Residency permit holders can travel freely throughout the Schengen Zone without the need for a visa. They also have access to high-quality education and healthcare services in Greece.
Additionally, residency permit holders can start or invest in businesses in Greece, take advantage of Greece's favorable tax regime for non-domiciled individuals, and invest in real estate in the country. Greece's low cost of living and beautiful beaches make it an attractive destination for real estate investment.
Investors who obtain residency in Greece through the Golden Visa program can take advantage of Greece's favorable tax regime for non-domiciled individuals. This regime allows for significant tax savings and can be a significant advantage for investors looking to minimize their tax liability.
Additionally, the program's straightforward application process and relatively low investment amount make it an accessible option for those looking to invest in Greece.
The Greek Golden Visa program also offers visa-free travel throughout the Schengen Zone, access to high-quality education and healthcare services, and the ability to start or invest in businesses in Greece. These benefits make the program an attractive option for investors looking to establish a foothold in Europe.
Consider Greece
The changes to the Greek Golden Visa program in 2023 reflect the government's desire to ensure that the program continues to attract high-quality investors and to maintain the program's reputation. Despite the changes, the program remains an attractive option for investors looking to obtain residency in Greece. The program's benefits, including visa-free travel throughout the Schengen Zone, access to high-quality education and healthcare services, and favorable tax treatment, make it a unique opportunity for investors seeking alternative residency options. With the deadline for applications extended until the end of 2023, now is an excellent time for potential investors to take advantage of the program.