What are the benefits of a Greek Golden Visa?

The Greece golden visa presents an opportunity to invest in real estate and acquire residency in Europe. It offers several advantages which we’ll explore in this post.

Aside from the benefits of a Greek golden visa, we’ll also talk about the latest updates of the scheme.

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What is a Greek golden visa?

Through significant investments, non-EU nationals as well as their families can apply for residency by investment under the program.

Those looking to access Greece and the wider European Union will find this program very appealing.

Because of the comprehensive nature of the scheme, applicants may include members of their immediate family.

This offers a full option for families wishing to migrate together by including dependent parents and children below the age of 21 in addition to spouses.

Benefits of Greece Golden Visa

1. Golden Visa holders are eligible to seek for Greek citizenship after living in Greece for seven years. This enables one to enjoy all of the benefits of EU citizenship. Such includes the freedom to reside, work, and pursue education in any member state.
2. The program permits the primary applicant to submit a residency request on behalf of their spouse, parents, and children 20 years old and below. In other words, having a residence in Greece can benefit the whole family without requiring a lifelong stay.
3. Holders of golden visas can travel within the Schengen Area without a visa. They can spend up to 90 days in other member nations in a 180-day period. That makes it so much easier to travel throughout Europe.
4. For individuals who meet the requirements to become tax residents, Greece offers a competitive tax regime with an annual fixed tax rate of 100,000 euros on international income. Compared to conventional income tax rates, which may hit 45%, this is substantially lower.
5. Long-term leases on properties owned by investors offer a chance to earn rental revenue. They can additionally market the real estate and possibly recover their investment once they get citizenship.
6. Living in Greece gives residents access to first-rate healthcare and educational opportunities, which improves families’ quality of life in general.
7. Greece boasts affordable living expenses vs many other EU nations, which attracts retirees and people looking for an excellent way of life without being too hard on the pocket.
8. Rich cultural history, breathtaking scenery, and a comfortable Mediterranean climate are all part of living in Greece.
9. One of Europe’s more accessible residency-by-investment options, the Golden Visa application process is very simple and may be finished within four months.

Greek golden visa news

Significant changes have been made to the Greece Golden Visa program with the goal of improving the property and investment conditions.

In particular, certain investment minimums and acquisition rules have been modified as of September 1, 2024.

Raising the minimum investment requirements in some places has resulted in higher qualifying costs, which is one of the main changes. So as to guarantee that only larger, more significant investments qualify for the scheme, properties must now be at least 120 square meters.

For foreign investors, the minimum investment needed to purchase real estate in desirable areas like Athens and Santorini has reportedly increased to 800,000 euros from 500,000 euros.

The goal of this adjustment is to alleviate Greece’s acute housing scarcity and growing pressure on the rental market.

Stricter guidelines regarding real estate acquisitions and rental alternatives have been implemented by the program too.

The Golden Visa can be obtained through several means on top of the recently implemented property investment regulations.

Property that is at least 120 square meters can be purchased for 400,000 euros, while commercial structures can be converted to residential use for 250,000 euros. Investing in government bonds or making deposits, from 500,000 euros, is another way to contribute financially.

It’s likely that the goal of these modifications is to improve investment quality and increase market supervision for properties.

As they develop their investment strategy, prospective applicants will need to take these new rules very seriously.

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Adam is an internationally recognised author on financial matters, with over 760.2 million answer views on Quora.com, a widely sold book on Amazon, and a contributor on Forbes.