Greece Golden Visa - Five Reasons Why

Greece’s Golden visa programme is one of Europe’s most popular and cost-effective permanent residency options requiring a real estate investment of just €250,000 + fees. Following the investment, applicants are granted a permanent residency visa which can be renewed every five years. There are several attractions of the programme, below are five of the major highlights:

Visa-free – Schengen access

A Greek permanent residency visa entitles the holder to travel freely throughout the EU Schengen area, spending up to 90 days out of every 180 days in the zone. For those who travel regularly and have to apply for a travel visa each time, this provides a longer-term solution as the Greek PR visa only has to be renewed every five years.

Include Four Generations

This is a fantastic option for large families as the main investor and their spouse have the right to include dependent children up to the age of 21 years old, dependent parents and dependent grandparents.

Five Year Validity

Many of the other EU golden visa residency programmes have shorter validity periods of 1-2 years per visa. Because the Greek golden visa programme offers a direct permanent residency visa, the validity period is longer at five years. This saves investors both time and money with the ongoing renewal process. The initial processing time is also just 90 days which is very quick compared to some of its competitors. 

Minimal Stay Requirement

Many golden visa investors do not intent to live in Greece full time, they are usually just interested in holding a second residency in the EU for various other benefits, such as travel reasons. The minimum stay requirement is just one day per year for permanent residency holders, which means golden visa investors are not required to spend long periods of time in the country, should they not wish to. Of course, as a PR holder you have the right to reside in Greece full time, if you please. If you intend on applying for Greek citizenship later down the line, please note that you are required to reside full-time in Greece for seven years and complete an advanced language test. 

TAX Incentives

Greece recently introduced a flat tax rate incentive of 7% to pensioners who move their tax residency to Greece. This covers the applicant’s worldwide income so is ideal for retired HNW investors looking to benefit from a lower tax rate. The tax programme is valid for 15 years and can be extended after that time. Only applicants from nations that hold a double taxation treaty with Greece are eligible. 

For more details on the Greek Golden Visa programme, please do not hesitate to contact our team.