In January-November this year, 898 investors, as well as 2.658 members of their families, became holders of the Greek "golden visa". These statistics for 2021 residence permit in Greece were published by the Migration Service of the country. It is noteworthy that the program remains in great demand even during the pandemic. At the same time, Russian, Chinese, and Turkish citizens are showing a particularly high interest in it.
The Greek golden visa began to be issued back in 2013 and from the very beginning proved to be very popular. In 2014, 723 foreigners had already acquired the residence permit, but by November 2021 this figure had grown to 28 thousand ( investors with their families).
Significant changes have recently taken place in the operation of the Greek Immigration Office. This institution receives applications from investors applying for the residence permit processing. Starting from May 2021, the documents required to obtain the residence permit are examined in a special "window", except for other issues related to immigration. Due to such innovations, the time for examining the documentation has been reduced - now the procedure takes one month instead of the three needed previously.
What privileges do investors acquire along with a Greek residence permit?
Along with a Greek residence permit under the program, investors in the country have the following benefits:
1. Travel within the Schengen area without a visa (again, with the family) for 90 days within half a year. What is more, an investor holding a Golden Visa is not required to reside permanently in Greece.
2. The Residence Permit is granted immediately for a five-year period. This feature favorably distinguishes the Golden Visa program among similar programs of other European countries that issue a residence permit in exchange for investment for only 1-2 years with the possibility of further extension.
3. Possibility to obtain the EU citizenship in the future. The investor has the right to apply for it after 7 years.
4. Right to purchase and register a personal car or boat in the country.
5. Right to study in Greek schools and universities free of charge.
Obtaining a Greek residence permit through investment
The investment program of Greece, which allows you to apply for a residence permit, assumes the fulfillment of one of the following conditions:
- purchase of real estate in the country with a total value of 250 thousand euros and more, it can be a residential or commercial property, a building area.
- open a deposit in any bank of the country with the amount of at least 400 thousand euros
- purchase securities of Greek companies (for example, stocks or bonds), as well as shares in investment funds for the same amount, 400 thousand euros.
Who has the right to apply for a residence permit on an equal basis with the investor
In addition to the investor, his close relatives are applicants for a residence permit:
2. Common children who are not 21 years old yet, while not married. If the child is recognized as incompetent, he /she is included in the application, regardless of age.
3. Parents of each of the spouses, regardless of age.
Bear in mind that the indicated residence permit does not give the investor or his family members the right to work in Greece. But the real estate owner can count on passive income by leasing his residential or commercial property.