Benefits of Golden Visa program
A residence permit for property owners is the most attractive type of residence permit in Greece. It is no coincidence that such permit is called Golden Visa or golden residence permit - the happy owner of foreign property immediately receives both a house by the sea and the right of permanent residence in a European country.
In addition, the conditions for obtaining such type of Greek residency are the most loyal in Europe: the price of real estate starts from 250,000 euros, and the process of permit obtaining is simplified as much as possible and does not
take much time.
A residence permit promises the owner a number of benefits:
- Age over 18
- Verified source of income
RESIDENCE PERMIT FOR FAMILY MEMBERS
NO OBLIGATION OF PERMANENT RESIDENCE
NO OBLIGATION TO REFLECT ACCOUNT BALANCE
GUARANTEE OF OBTAINING A RESIDENCE PERMIT
POSSIBILITY TO ACQUIRE CITIZENSHIP
Visa-free entry to all Schengen countries
Stages of obtaining a residence permit in Greece
Duration - depends on your timing
Selecting a property for subsequent purchase. We will select the best options for you, based on your goals: holiday, permanent residence, obtaining a residence permit or investment.
Duration - about 1 week
Includes: inspection of the property, costs negotiation, coordination of contract terms and arrangement of a deposit. In addition, the applicant has to open an account in a Greek bank and get an AFM - the Greek equivalent of taxpayer's identification number. At this stage, your presence is mandatory - first of all, to issue a power of attorney to a lawyer.
Duration – 1-2 months
The next step is to sign purchase and sale contract accompanied by the procedures: verification of property clean title, payment of state fees, collection and submission of necessary documents, registration of the contract, etc. Can be performed by proxy or in person.
Duration - about 2 weeks
Preparation of a residency documents package. The documents required can be collected personally or through a representative.
Duration – 1-2 months
The last step before issuing a residence permit will be the submission of documents to the Department of Migration. This is when your personal presence is necessary for the fingerprinting procedure. Once application is submitted, a blue certificate (μπλε βεβαίωση) is issued, which allows to stay in the country until the residence permit is issued.
Duration – 1-2 months
In a while after submitting your fingerprints you will receive a notification that the residence permit is ready. Residence permit will be issued for 5 years, allowing you to enjoy life in Greece and to freely travel throughout the Schengen countries.
Download a brief guide to residence permit
Get our full guide to residence permit, including:
- all stages of obtaining a residence permit
- list of documents required
- other details
Unlike the restrictions imposed by other EU countries, in Greece any type of real estate gives the right to obtain a residence permit. The only condition is that value of such real estate should exceed 250,000 euros. In any case, there are several subtle aspects to be considered.
The law does not distinguish between residential and commercial real estate. Whether it is a city apartment, a house by the sea for vacation or rent, a land plot, a hotel complex or an apart-hotel - any of these property types gives the right to obtain a residence permit. It is pretty common for the owner to purchase real estate for personal use, and to rent it out when not used. For this reason Greece Invest establisehd a department in charge of rental management.
Alternative option - 400.000 euros in the account
- Funds deposited in a Greek bank
- A residence permit can be obtained as well
- No profit can be gained
Benefits of Greece Invest
"Total package" approach
20 years of experience
Vadim Dolmenidis, CEO:
Founded in 2002 we have been dealing with real estate market for many years and have strong understanding of the local market. We focus only on high-quality cottages, villas and apartments. Whether searching for recreation, permanent residence, investment or obtaining a residence permit - our experts will understand your needs and help you find the right property.
We deal with every aspect of the region, offering properties in the best and most favorable Greek resorts. The most popular of them are the peninsula of Chalkidiki, Athens, Thessaloniki, Peloponnese, and the islands of Crete and Corfu. In addition, our database includes objects in the Olympic Riviera, on the islands of Zakynthos, Rhodes, Thassos, Evia, Santorini, Mykonos, etc.
Residence permit in questions and answers
In addition to the owner, the following family members can apply for a residence permit:
- partner under registered partnership agreement signed in Greece
- common children of spouses or partners under 21 who are not married
- foster children of one of the spouses or partners under 21 provided the custody of the children is legally executed
- parents of both owners and their spouses.
The number of family members eligible for residency does not affect the cost requirements.
The law does not impose any obligations on you in this regard. You are entitled to collect and submit documents both personally and by proxy / through a lawyer. However, given the language barrier and the need to stay in the country to collect and submit documents, general advice is to retain the services of an experienced attorney.
Residence permit holders have equal with Greek citizens access to the country's educational institutions. Education in Greece is free, including universities. As for medical care and services you and your family members shall maintain insurance to cover the related costs.
A residence permit for property owners does not allow the holder to seek employment in Greece. It does not allow access to the labor market and neither stipulates residence permit for family reunification, received by the relatives of the property owner.
Like other types of residence permits, this category guarantees the right of visa-free entry to the Schengen countries as well as stay within the member countries for three months out of every six. However, the border-free area makes it impossible to control how many months you lived in other Schengen countries. The number of entries is not limited by law.
Since 2018, this right has been enacted at the legislative level. The important is that Greece allows dual citizenship. The procedure for applying for Greek citizenship and the requirements for applicants are the same as for those on other grounds. However, it remains exclusive elegibility of the property owner. His family members shall first obtain long-term resident status.
As a general rule, the minimum value of any property (or the total value of several properties) is 250,000 euros. The property must be purchased with your own funds: no mortgage or use of other borrowed funds or payment by installments are allowed. The required value must be reflected in the purchase and sale contract. Therefore, VAT, transfer tax and other related costs are not included in the price. In case of joint ownership of property by spouses, the right to obtain a residence permit for property owners is granted to both of them while property value is not affected.
Definitely you can. The Ministry of Transport provides for the right to purchase a vehicle against any category of residence permit issued in Greece.
To finalize a transaction, the buyer of real estate must present evidence of his solvency. For this purpose you must provide documents certifying the source of funds origin. This can be a tax return transcript, confirmation of a bank account, a certificate of income from participating in a business, or other documents. Upon settlement payment is made by transferring a crossed check or other bank transaction.
Criminal record earned both in the home country and in Greece results in revocation of the valid residence permit.
A Schengen visa of another country grants the right to enter Greece to arrange residency-related issues and submit documents for residence permit. Thus, you do not need to secure a visa to enter the country.
The law does not impose any restrictions on transactions with your proprety. You are entitled to dispose of the property at your sole discretion.