Navigating the Greece Golden Visa Program: A Comprehensive Guide to Residency Through Investment 

The Greece Golden Visa program has recently undergone significant changes, designed to boost revenue and tackle housing shortages in the real estate market. This residency-by-investment initiative offers a lucrative opportunity for non-EU citizens to secure Greek residency by investing in real estate or other qualifying assets.

Understanding the Greece Golden Visa Program 

The Golden Visa program allows foreign investors to obtain residency in Greece through various investment options. Here are some of the primary pathways available:

Investment Tiers for Golden Visa Eligibility

1. Minimum €250,000 Investment: If you invest in specialized real estate aimed at converting commercial properties into residential units or restoring registered buildings, you can qualify with a minimum purchase of €250,000, regardless of the location or size.

2. Minimum €400,000 Investment: For those looking to buy property in rural areas or less densely populated cities and islands, a minimum investment of €400,000 is required. This investment must be directed towards a single property of at least 120 m².

3. Minimum €800,000 Investment: If your goal is to invest in major cities like Athens or Thessaloniki, or to purchase property on islands with populations exceeding 3,100, you will need to invest at least €800,000.

Golden Visa Application Process: Steps and Timeline 

Step 1: Consult the Experts 

Begin your journey by speaking with the knowledgeable team at Mohsin Estate & Builders, who can guide you in determining your investment criteria and selecting the perfect property. Whether it’s a chic apartment in the city or a serene retreat, we are here to help you find the right fit for your needs.

Step 2: Complete Legal Formalities

Next, acquire a Greek Non-Resident Tax Number and open a Greek bank account. Additionally, consider granting power of attorney for smoother transactions.

Step 3: Property Acquisition

Conduct thorough legal due diligence with the assistance of a qualified lawyer. Secure your property by obtaining a promissory sale agreement and executing a public deed.

Step 4: Start Your Application

Gather all necessary documents for your Golden Visa application. Engaging a lawyer during this stage can alleviate the stress of managing paperwork.

Step 5: Visit Greece

During your visit, you’ll submit biometric data and finalize your application process with the local authorities.

Step 6: Receive Your Golden Visa Approval

Once your application is processed, you will receive approval and your Golden Visa Residence Card, granting you access to Greece’s rich culture and stunning landscapes.

Step 7: Renew Your Golden Visa

Every five years, renew your residence card effortlessly, paving your way towards permanent residency.

Step 8: Apply for Citizenship

After seven years of living in Greece and fulfilling tax obligations, you can apply for Greek citizenship and a passport—an incredible opportunity with benefits beyond your imagination!

Key Benefits of the Golden Visa 

Golden Visa holders enjoy visa-free travel throughout the European Union, enhancing accessibility for both the investor and their first-degree relatives, who also receive a five-year residency visa. However, it’s crucial to note that properties purchased under the Golden Visa program must be used as permanent residences—not “holiday homes” on platforms like Airbnb.

Recent changes to the Greece Golden Visa program aim to address housing shortages while generating additional revenue for the national treasury. Understanding these new criteria and processes is essential for prospective investors.

For personalized guidance on the Greece Golden Visa and to explore promising real estate investments, visit us at Mohsin Estate. Let us help you embark on this exciting journey towards residency in Greece!