Golden Visa Program of Greece – Greece Residence Program

Greece in recent years has become one of the most popular destinations for people to relocate. The country offers a perfect mix of privileges such as a good climate, freedom of movement, and ample amenities which makes it best for doing business. 

The Golden Visa Program of Greece today is counted as a prominent scheme for investors looking for better prospects. This residence-by-investment visa is issued to non-European citizens and helps in conducting business easily.

Let us now check the various ways in which one can get a residency permit in Greece.

What Are The Investment Options for Golden Visa Greece?

Like every other citizenship program, investment is a pertinent aspect of Golden Visa Greece too. The government of the country has thus churned out different investment schemes under which interested investors can apply for a residency permit. They are:

• Individuals can purchase real estate property worth at least €250,000.
• A lease agreement of 10 years with a hotel or tourist establishment also works.
• Making a capital investment of €400,000 in the companies registered in the country counts for another way.
• The Greek government also takes a sum of €400,000 in the form of government bonds, shares, real estate investment, corporate or bank deposits.

Who All Are Eligible For Golden Visa Greece?

The next most useful aspect of any visa program is checking for eligibility concerns. While almost all citizenship schemes have nearly the same criteria for eligibility, there are a few altercations that need to be considered. The Golden Visa Program Greece has outlined a list of norms that are listed below:

• Applicants seeking citizenship in the country must meet the age limit of at least 18 years.
• People with criminal records are not allowed citizenship in the country. 
• Individuals who are willing to relocate must be ready to make a significant investment.
• Obtaining health insurance from a company operating in Greece is also a mandatory term.

What Is The Exact Duration of a Greece Visa?

The Golden Visa issued by the government of Greece has a duration of 5 years. However, this can be renewed indefinitely as long as one continues to maintain investment.

However, for all those who want to permanently embrace the country, you will be eligible to do so only after 7 years of continuous residence. But what makes the country different from the rest is that unlike other nations you do not need to live in the country at all for renewing the residency permit.

You can enjoy the status of a Greek resident if you provide relevant proof that the investment is still going on. But to enjoy citizenship grant a minimum of seven years residency, along with knowledge about the language and culture on the basic level is a must.

Details of Applying for a Greek Visa?

To make sure investors get to the brass tacks of the process here is a complete guide for the Greek Visa:

• Once you get a permit to enter the country, finalize your investment strategy.
• Collect and go through all the documents for Golden Visa Program.
• The overall time for the visa to get processed takes about 3 months. 
• If the application goes through then the individual has to travel to the country for biometric submission.
• After all these processes are complete, immigrants are issued Golden Visa for 5 years.

Benefits of Living in Greece?

There are multiple benefits of choosing Greece as your permanent address, out of which some are given below:

• Greek citizenship grants freedom to live and travel throughout Europe and Schengen area all year round.
• Individuals have access to buy real estate and also conduct business.
• Citizens are granted an opportunity to study in any educational institute of the Schengen area.
• Investors acquire medical benefits from leading health systems in Europe.

The number of residence permits issued to non-European Union citizens, known as Golden Visas, in Greece in 2021 posted a moderate increase of 10.3% from 2020, with the issue of 1,035 new five-year permits, up from 938 the previous year. Even so, last year the performance of the Greece Golden Visa program remained well below the 2019 high (with 3,535 permits issue), or the 2018 level (1,893)

The latest data show that since the start of the Golden Visa program, Greece has issued a total of 9,610 permits to investors, or 28,767 permits including their family members too.

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This report/news/ranking/statistics has been prepared only for general guidance on matters of interest and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, CEOWORLD magazine does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.

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