Eligibility Requirements for Greek Golden Visa

To be eligible for the Greece Golden Visa, you must meet the following criteria:

• Be a non-EU citizen.
• Possess a valid passport.
• Be at least 18 years old.
• Have a clean criminal record.
• Additionally, the family members of the main applicant can be included in the same application, including
  • Spouse or Partner of the Main applicant
  • Minor Children or Dependent Children under the age of 21
  • Parents and Parents-in-law

Greece Golden Visa Application Process

Step-by-step application guide for Greece Golden Visa:

1. Understand the program requirements: Before making an investment decision, understand what the Greece Golden Visa program offers, and the documentary requirements to apply. We, at My Golden Pass, provide one Free Consultation to help you understand the program requirements and renewal conditions.
2. Complete KYC and Background checks: Before we agree to work with you, we require you to complete our KYC, and detailed background check. This way, you will know, if any adverse records or information shows up on your background, even before you get to the investment stage.
3. Choose your investment option: We will provide you with several investment options based on your requirements. Finalize the option that aligns with your objectives.
4. Complete the investment after necessary due diligence: Our lawyers (or the lawyers appointed by you) will complete legal diligence on the property. Upon DD completion, you will complete the investment by paying the Developer or the Seller, directly from your bank account.
5. Application submission: Prepare the required documents and submit to the Greek immigration authorities for approval.
6. Visa Approval: Normally, one can expect to receive the Golden Visa in 3 to 4 months from application. In 2024, depending on the immigration office, application processing timelines for Greece Golden Visa may be further stretched by a few months.

Remote application process for Greece Golden Visa

Investors are able to complete the property investment, and Golden visa application visa process, remotely, by appointing a proxy via a registered Power of Attorney.
The investor, and family members must travel to Greece within 12-month period to submit their biometrics required for the Golden Visa. Applicants are granted 1-year, multiple entry visa for Greece, to enable them to travel to Greece and complete the biometrics procedure.

Greece Golden Visa Investment Options

Real Estate Investment:

In March 2024, the Greek government announced significant amendments to the Golden visa regime, particularly to the real estate investment route. While the minimum investment threshold continues to be EUR 250,000, it applies only to exempted properties. In popular investment regions, the investment threshold has been substantially raised to EUR 800,000. Conversely, in other regions of Greece, a lower threshold of EUR 400,000 applies.

Other Investment Options:

Non real estate investment options for Greek Golden visa and their applicable thresholds from March 2024 are as follows

• EUR 500,000 capital contribution to a Greek company (for acquisition of shares or bonds)
• EUR 500,000 purchase of Greek bonds with a residual maturity of at least 3 years at the time of purchase
• EUR 500,000 fixed-term deposit with a Greek credit institution
• EUR 350,000 purchase of shares in mutual fund, which is established in Greece or another country and is intended to invest exclusively in shares, bonds or Greek government bonds
• EUR 350,000 purchase of shares in Alternative Investment Fund (AIF), which is established in Greece or another country of the EU and has the objective of investing exclusively in Greece.

Benefits of Greece Golden Visa

Greece Golden Visa offers the following advantages

1. Cheapest Golden Visa in Europe, for a Schengen Country – At EUR 250,000 the investment amount remains the lowest for a Schengen Country.
2. Return on Investment: As the properties can be rented out, investors can earn healthy annual return and capital appreciation from the investment.
3. 5-year residency: Greece Golden Visa is a 5-year residency card that can be renewed for lifetime, provided the Applicant continues to hold the investment properties. Holders are not required to learn the language or pass any exam.
4. Visa-free travel: Greece Golden Visa allows the holder to travel visa-free across the Schengen region, for up to 90 days in every 180-day period.
5. Permanent Residency and Citizenship: Golden Visa holders living in Greece for at least 5 years, can apply for Permanent Residency (PR). 2 years from obtaining PR, they can apply for Citizenship. Investors can sell the investment properties after obtaining PR.
6. Right to travel and live in Greece, but no obligation: The Greece Golden Visa permits its holder to travel to Greece at their discretion and provides the right to reside in Greece for any period during the visa’s validity. Importantly, there is no mandatory minimum stay requirement to maintain the visa’s validity or for its renewal. This is contrast to Portugal or Spain, where minimum residency is required for renewal of the visa.
7. Access to public healthcare and Education: Residency right of Greece is also accompanied with access to public healthcare as well as other education benefits offered by the country.

Greece Golden Visa FAQs

1. Does Greece restrict any specific country nationals from applying for the Greek Golden Visa?
   Since March 2022, Russian nationals are not permitted to apply for the Greece Golden Visa. All other non-EU nationals may apply.
2. Has Greece increased the investment threshold for Golden Visa?
   Effective 31 March 2024, real estate investment threshold is increased to either EUR 400,000 or EUR 800,000, depending on where the property is located. Minimum investment required to apply for Greece Golden Visa still continues to be EUR 250,000, although it applies only for specific exempted properties.
3. Have all European countries scrapped the Golden Visa?
   Greece continues to offer its Golden Visa to investors at a starting investment of EUR 250,000. While Portugal has passed a law to annul real estate from eligible Golden Visa investments, investors can make alternative investments to obtain its Golden Visa.
4. Is Greece Golden Visa really worth it?
   Greece Golden Visa is a great investment for those seeking unrestricted mobility throughout the Schengen region, for work or leisure, and simultaneously earn a great return on their investment.
5. How can one apply for Greek citizenship?
   To apply for Greek citizenship, one needs to live in Greece for at least 7 years, and pass the mandatory exam. There is no mandatory residency requirement or exam to maintain or renew the Golden Visa.

Book a Free Consultation to commence your European residency with Greece Golden Visa!