«Golden Visa» in Greece is the most affordable in EE. Its issuance provides flexible requirements regarding the properties and the family members of the applicant, while the residence permit card is issues as soon as possible. More than 23 thousand foreign citizens have already obtained residence permit in the country through property transactions. The advantages of this program include the possibility of renting real estate acquired in Greece, there are no non-refundable payments. The Public Authorities issue residence permit for 5 years, which in the future may lead to the acquisition of Greek citizenship.
Golden Visa was launched in 2013 and has established itself like a successful project. Thus, in 2014, 723 people received residence permit and until July of 2020 this number has reached up to 23 thousand (investors with their family members). At the same time, citizens of Turkey, China and Russia are among those applying for the residence permit Immigration to Greece give them the opportunity to gain access to the EU without a visa.
The program has a condition the minimum price of property (or properties) that must be obtained in order to calculate the issuance of a residence permit in Greece. The above minimum price is 250 thousand euros (less than in other EU countries). Families members are allowed to be included in the application.
The residence permit is issued for a period of five years and can be renewed indefinitely. The main condition is that the property has to remain in the acquisition of the applicant.
Who is entitled to a residence permit other than investors
The following relatives can apply for a residence permit together with the investor:
1. The spouse
2. Parents of any of the spouses, regardless of age.
3. Common children under 21, unmarried. When a child is incompetent and under judicial protection, included in the application together with the investor, regardless of his/her age.
Rights and obligations
Holders of residence permit acquire the following rights and obligations:
1. Accommodation in the country. In addition, there is no obligation stay in the country for a certain period of time, nor an obligation to change tax residence.
2. Possibility to visit other countries in Schengen area without obtaining the required entry visas, staying in these countries for 90 days per semester.
3. Right to access public health services in Greece.
4. Right to free education in schools, universities in Greece.
5. Right to buy and register a car or boat.
This residence permit does not provide to the investor, as well as his family members, the right to work. However, renting a property is allowed, which allow a passive income to be received.
Below you can find the statistics for obtaining a residence permit in Greece through the purchase of properties from 2014 until July of 2020.
Source: Ministry of Immigration
General Secretariat for Immigration Policy