Undoubtedly, Greece has the most affordable Golden Visa program in comparison with other countries. Its astonishing natural beauty, invaluable historical heritage, famous Greek hospitality or “philoxenia”, and most importantly, the ideal climate conditions every year attract not only tourists but also those who want to invest in the Greek economy. In turn, Greece provides investors with the opportunity to obtain a residence by investing in the Greek economy.
The third-country nationals can obtain a residence permit either by making an investment or by acquiring real-estate property:
- Obtaining a five-year residence permit by purchasing a real estate property of a minimum of €250.000. It should be noted that any number of properties can combine to make up the €250,000 minimum amount of investment. The permit may be renewed and the right to stay in a country also applies to spouses and family members of the investor (parents and children).
- Residence permit for financially independent persons purchasing real estate property for less than 250,000 euros
- Starting a business in Greece
- Making an investment in the Greek economy
Among the aforementioned options the Golden Visa program, in other words, the concession of five-year residence permits to third-country nationals who invest at least 250,000 euros in Greek real estate, is definitely the most preferred one. It is remarkable that the number of issued residence permits has been growing steadily since the commencement of the program in 2013.
Here are some statistics based on data provided by the Hellenic Ministry of Migration Policy:
Number of residence permits issued since the commencement of the program
The total number of residence permits received by country for the period from January 2019 to March 2020
As showcased in the table, Chinese investors received a lion share of issued residence permits in Greece, obtaining an impressive 72% of said permits, followed by investors from Turkey (7%), and Russia (5%).
The process for the issuing of a residence permit for real estate property owners involves the following steps:
- 1) Issuing an entry Visa for Greek Territory
- 2) Collecting the documentation for the issuing of the residence permit
- 3) Submitting the documents
- 4) Obtaining a residence permit following all the related procedures
It should be mentioned that hiring a lawyer is optional. However, taking the Greek bureaucracy and lack of knowledge of the language into account, legal support is deemed necessary in order to facilitate the procedure and remove the unnecessary obstacles.
The DKG Development Company provides its clients with full support, from the moment of selecting a real estate, during the conducting of the transaction, and until obtaining a residence permit. Furthermore, highly experienced lawyers with excellent knowledge of Greek law, as well as all the subtleties of the immigration law, will find the most suitable option, taking all the client’s needs and requirements into account.
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