Advantages of Getting a Golden Visa in Greece and How the Process Progresses
Greece has become a center of attraction for both holidaymakers and investors over the years as the shining pearl of the Mediterranean. The Golden Visa program, which is an important part of this attraction, has been offering free movement and living rights in Europe to investors who make high amounts of real estate investment since 2013. Here is an in-depth look at the advantages of this program and the application process that we have prepared for you.
What is Golden Visa?
Golden Visa is a program that offers residence permit or citizenship to investors in return for a certain investment. The program in Greece requires the purchase of real estate worth at least 250,000 Euros and provides a five-year residence permit in return for this investment, which can be renewed if desired.
Detailed information: What is Golden Visa?
Advantages
1. Free Movement
Golden Visa holders can travel visa-free to 26 European countries in the Schengen Area. This provides great convenience for business and tourism purposes.
2. Inclusion of Family
The program covers the investor's spouse, children under 21 and parents from both sides.
3. Low Investment Threshold
It has one of the most favorable investment limits compared to similar programs in Europe.
4. No Residence Requirement
There is no permanent residence requirement in Greece, investors can spend the whole year in another country.
5. Education and Health Services
Golden Visa holders can benefit from public education and health services.
6. Potential Citizenship
Golden Visa does not directly grant citizenship; however, citizenship application can be made when long-term residence and integration conditions are met.
7. Investment Return
Especially in tourist regions, real estates can provide high rental yield and value increase.
How Does the Process Progress?
1. Selection of Investment
Real estate worth a minimum of 250,000 € is selected.
2. Purchase Process
The purchase is completed by obtaining a tax number (AFM), notary and lawyer are involved in the process.
3. Type D Visa
After the real estate purchase, an application is made to the Greek consulate for a Type D visa.
4. Golden Visa Application
After entering Greece, the residence permit application is made.
5. Obtaining the Residence Permit
After the documents are completed, a five-year residence permit is given.
6. Renewal and Citizenship
At the end of five years, if the investment continues, the residence permit can be renewed. Citizenship application can be made with long-term residence and integration.
Additional Information
The regions where Golden Visa is most intensely used in Greece are tourist cities such as Athens, Thessaloniki and Crete. Investors generally prefer apartments in central locations suitable for short-term rental. This both enables the residence permit to be obtained and shortens the investment return period.
In addition, Greece, being an EU member, has made double taxation agreements with other countries, which is financially advantageous. In some cases, it becomes possible to engage in commercial activities by establishing a company with Golden Visa.
Conclusion
Greece's Golden Visa program not only offers the opportunity to live in Europe; it is also a strong investment tool with high rental yield, tax advantages and citizenship perspective. In the last 5 years, a total of more than 17,500 applications have been made to the Greece Golden Visa program, of which approximately 1,200 are Turkish citizens. From the perspective of investors, the program stands out as both an opportunity that increases the quality of life and a long-term strategic move. However, the entire process should be carried out with experienced consultants and every step should be planned in detail.
