Step aside, Portugal and Spain; you’re old news. Greece just unveiled its Golden Visa program, which gives investors the chance to obtain residency status in exchange for investing in one of the Greek bond issues of a minimum of 50,000 euros ($56,000) each year. If you’re looking for the ultimate residency by investment option, consider Greece! Here are six reasons why Greece Golden Visa is superior to any other residency by investment option on the market today
Reasons to choose Greece as your preferred residency
By choosing Greece as your preferred residency, you can benefit from a wealth of advantages. The first and most obvious benefit of acquiring a Greek residence permit is that you will be permitted to legally reside in Greece. And just because you are an immigrant does not mean that you have to live in Athens. Because some people prefer more rural or suburban lifestyles, or perhaps even island hopping, Greece grants its legal residents specific flexibility when it comes to choosing where they live within its borders.
What are the investments that can help you get permanent residency in Greece?
Greece has been one of the most popular European countries due to its amazing beaches, historic sites, and high standards of living. The Greek government has introduced Greece golden visa or Greece’s residence permit programs. For investors that are looking to make Greece their home, Greece residence permit programs can provide a pathway to residency in Europe. One of many options available within these programs includes real estate investments, which can provide high returns for investors on all levels.
How to make an investment application
Before proceeding with your investment application you need to understand how Greece’s investment-based Golden Visa program works. First, it’s important to note that you can only apply for a residence permit using Greece’s new program if you plan on investing €250,000 in Greece or spending €16,800 annually on property rentals (or both). Second, you must choose between two types of residence permits: Permit A or Permit B.
Who is eligible to apply?
Applicants must purchase a property worth €250,000 or more. This amount can be lowered if an applicant purchases several properties that total €250,000 or more. For example, two apartments of €100,000 each and a house of €150,000 would qualify an investor to apply under these terms. Applicants must reside in Greece on a permanent basis (not as a tax loophole) and must also show good moral character to be eligible for residency by investment in Greece.
Is it safe?
Since January 2015, Greek authorities have made it clear that Greece’s golden visa scheme will no longer include a mandatory pre-purchase of real estate. In addition, there has been an increase in transparency in Greece’s investment program and a reduction in fees. When compared to other golden visa programs (such as Portugal), Greek citizenship by investment is less expensive and faster than many others on offer around Europe today. If you are considering applying for a residence permit in Greece, now might be your best chance to do so!
What are my rights after I have invested?
Greek golden visa investors are eligible to apply for long-term resident status in Greece (and thus EU citizenship). The residence permit of a Greek golden visa investor allows free travel within all Schengen areas, after five years of residency in Greece.
How long does it take for the investment approval decision?
The time required for an applicant to receive a residence permit can vary depending on factors such as whether they choose to invest in real estate or a company and whether they have obtained citizenship through investment. Once all of your documents are submitted, authorities should process your application within approximately 3-6 months.
The legal background of the Golden Visa in Greece.
The current legal framework of Greece’s visa program provides three investment options: (1) purchase a property of €250,000 minimum value; (2) pay in a lump sum of €250,000 to be deposited in a specially created bank account; or (3) establish a business(es) and/or employ(s) 3 full-time employees.
Which Nationality requires a VISA before applying for a Golden Card?
Nationalities from Europe, Asia, Africa, and South America do not require a VISA to enter Greece. For example, American citizens do not need a VISA when entering Greece. However, Canadian citizens will require a tourist visa in order to visit Greece. Note that visas are required regardless of whether or not you are using your passport when you arrive at ports of entry.
Every year, thousands of investors from all over the world are choosing Greece as their ultimate residency by investment option, mainly due to the attractive Golden Visa program in Greece as well as because of the country’s ideal geographic position and the economic benefits it provides. The Greek Golden Visa program, also known as the Residency by Investment Program, offers exceptional benefits to investors, who can get a residence permit by purchasing a property worth €250,000 or more in Athens or the islands of Crete, Rhodes, or Corfu.
Visit Inzeit Consultants today to understand all possible options for your desired country!