Are you craving sunshine, beaches, and delicious food? Thinking of visiting the beautiful country Greece?
Well, you can do more than just visit the country. Greece offers a Golden Visa program, which is specifically designed to attract foreign nationals who want to become citizens by investing in the country’s economy.
By becoming a citizen, you can explore this wonderful country and take advantage of the many opportunities it offers.
Besides beaches, the country is also rich in cultural heritage!
This article will discuss Greece’s Golden visa and its specific requirements. It will also elaborate on the culture and heritage of the country. So, if you are curious, then read this article thoroughly. It will give you a better understanding of the country and its visa program.
About Greece’s Golden Visa
The Greece Golden Visa program is a residence-by-investment scheme. It was launched to grant permanent residency to non-EU nationals and their families in exchange for qualifying investments in Greece. Let’s learn more about the Greece’s Golden Visa in detail:
Eligibility
Look at the eligibility requirements for the Greek golden visa:
- The EU citizens cannot apply for this program. Only the non-EU nationals are eligible to apply for the Golden Visa
- The applicant must be over 18 years of age
- Applicants have to show proof of a clean criminal record
- The program allows the inclusion of dependents in the application. But there are certain criteria
- The required investment threshold must be contributed
- Applicants must be financially stable
- Arrange for private health insurance priorly that covers your entire stay period
Investment Options
Real Estate: This is the most popular option. The investment amount required depends on the location:
- Minimum of €250,000 for most areas of Greece
- Minimum of €500,000 for specific areas like Athens, Thessaloniki, Mykonos, and Santorini
- It can be a single property, or multiple properties can be combined to reach the minimum threshold
Government Bonds: Applicants can invest a minimum amount of €400,000 in Greek government bonds.
Contribution to Greek Company: Invest a minimum capital of €400,000 in a Greek company.
Corporate Bonds and Stocks: Applicants can also invest in corporate bonds and stocks. The minimum amount should be €800,000.
Benefits
- Permanent Residency: After the visa application is approved, applicants are granted permanent residence. The visa can be renewed as long as the investment is maintained. After a certain period, people can apply for citizenship; however, specific criteria must be met to qualify.
- Visa-Free Travel: In this program, visa holders are allowed to travel visa-free in a number of countries, including the Schengen area. This eliminates the need for a visa application every time you need to travel.
- Fast Processing: The visa processing is faster and generally takes 2-3 months.
- No Minimum Stay Requirement: It is not mandatory to live in Greece for a specific period every year to maintain residency. However, investors must visit at least once every two years.
- Path to Citizenship: After seven years of permanent residence, applicants can apply for citizenship. However, there are some eligibility criteria to fulfill.
Things to Consider
- Investment Costs: In addition to the main investment, additional costs like legal, administrative, and property taxes must also be charged. Look over the cost requirements beforehand.
- Maintaining Investment: To retain residency, you must maintain the qualifying investment for a certain period.
- Tax Implications: Research the tax implications of Greece. The country has a residency-based taxation system.
- Professional Advice: Consult immigration lawyers and advisors to navigate Greece’s Golden Visa application process and understand other program details.
Greece Culture and Heritage
Besides beautiful beaches and delicious foods, the country is well known for its culture and heritage, which dates back thousands of years. Here’s a glimpse into what makes Greece special:
- History
Greece has been influenced by different empires throughout history, which is why people experience a mix of cultures in everything from food to architecture.
The country has been known for its famous philosophers and has open-air museums with iconic landmarks that remind us of its glorious past.
- Food
When you think of Greece’s famous cuisines, you think of fresh and local ingredients. Think of sunshine-ripened tomatoes, salty olives, and crumbly feta cheese drizzled with delicious olive oil. Seafood lovers will be in heaven with all the tasty dishes.
Coffee is also a big deal in Greece. Whether you prefer a strong espresso or a frothy frappe, the perfect coffee will be waiting for you.
- Hospitality
Greeks are well known for their hospitality. The locals welcome newcomers with open arms and offer genuine smiles.
Festivals are a big part of Greek culture. Throughout the year, villages celebrate various festivities with traditional music, dance, and delicious food.
- The Artistic Spirit
As we all know, art has always been a core part of Greek life. From the dramatic plays of ancient Greece to stunning Byzantine mosaics, people can experience the country’s artistic spirit.
Even today, the country continues to produce talented artists, filmmakers, and musicians who keep the creative spirit alive.
- Island Adventures
Thousands of islands are scattered around Greece like jewels. Each island has its own unique charm and culture.
People get the chance to hop from island to island, explore villages, relax on beaches, and enjoy the island vibes.
Wind-Up
Hope this article gave you an understanding of Greece’s Golden Visa Program. As mentioned above to proceed with the program, you must fulfill certain eligibility and investment requirements.
Greece is definitely a good choice for second citizenship. So, without further delay, research the country, its program, and growth opportunities, and start applying if it aligns with your goals.
