Greek Golden Visa

 

The Greek Golden Visa Programme offers an affordable real estate investment route to a residency permit in Greece. It only requires an investment of €250,000.

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The Greek Golden Visa Programme was introduced by the Greek Government in 2013 to encourage foreign investment into Greece. An investment of €250,000 in real estate in Greece allows the investor to obtain a five-year Residency Permit. This is renewable every five years. The programme does not automaticly offer permanent residency or citizenship. 

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The process generally takes between 6 to 8 weeks from the time of investment until the Residency Permit is issued.

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Benefits:

• Visa-free travel to the Schengen countries

• No extra tax on your income in either your home country or any other country

• You don’t need to reside in Greece

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The key requirements for the property investment route are:

• Buying a property or properties valued at a total of at least €250,000

• The property can be located anywhere on the Greek mainland or the islands and can be either residential or commercial. 

• The property or properties must be retained during the residency

 

Disadvantages:

• The programme does not allow the investor to work in Greece. This is only a residency programme allowing investors to reside in Greece

• Citizenship is difficult to apply for and requires full residency for at least seven years (10 months each year)

• The visa must be renewed every five years, which means the investor most hold the property for life.

• Property and purchase taxes are very high

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Fees

Legal fees, government duties, notary expenses, visa application fees and property search fees will amount to around €25,000. Furthermore, the applicant will be responsible to pay VAT (24%) if the property is new built.

 

Capital gain tax is 15%.

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Property purchase tax is between 3 and 8% depending on the value of the property.

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The disadvantages mentioned above make Greece less attractive than the programmes of Portugal and Cyprus.

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PLEASE CONTACT US FOR MORE INFORMATION ON +44 20 7799 1600