Greece Citizenship by Investment provides a Golden Visa Program as an avenue or method of obtaining Permanent residence in Europe by investing in real estate in Greece. The Greek Government established this program in 2013 as a means of supporting foreign investment. It has been a profitable investment to investors, which allows them to live permanently and travel freely in the Schengen zone. Greece is a Country in South-western Europe, and it is being recognized for its beaches and serene environment.
Benefits of Citizenship by investment
A resident who applies for citizenship by investment is liable to numerous benefits in Greece. The applicant enjoys numerous benefits, and here they are:
1. Living Condition:
The applicant can travel visa-free and move freely around the Schengen area which covers 26 countries for 3-months, and within a period of 6-months. The resident is also able to live in Europe and create a business where there’s no job.
Read also: Who Else Wants Invitation Letter for a Schengen Visa?
2. Business Investment:
This permit allows an individual to establish businesses in Greece. The cost of living in this country and running a business is affordable. There are various areas of investing and creating a development that includes tourism, energy, logistics, and so many others.
3. Language and Education:
There are various languages spoken in Greece without restrictions. Greek and English are widely used with English as the second language in Greece. The Country also offers quality education with excellent English speakers for both public and Private Schools.
Greece Citizenship by Investments
Permanent residence in Greece is offered through citizenship by investment for foreigners to obtain residence in Europe.
1. Real Estates investment:
This means involves an individual investing in real estates in Greece; it requires a minimum value of €250,000 which can be achieved in diverse ways such as
- The property can serve as residential or commercial purposes and it can be situated on the mainland or Island in Greece.
- Investment into several properties is allowed, when the properties are combined it can emanate into a value of at least €250,000.
- The investment of €250,000 can be invested in a lease that covers a minimum of 10 years. Business like hotel accommodation or well-decorated tourist residence can be added.
- An Individual can own his property or have legal representatives to obtain his or her shares.
- There can be joint ownership on a property, but the individual must invest €250,000.
2. General investment
This is another means of investment in Greece that provides a means of obtaining permanent residence in Greece. It is required the individual or applicant invests to make a useful impact on the national development and economy of Greece for job creation, production of domestic resources, innovation, etc. The needed investment is a value of €250,000 into any business venture chosen by the investor.
Required Document needed for Application
- Two copies of application documents
- Two recent color photos
- Medical certificates provided by a medical hospital in Greece or the home country
- Medical Insurance
- copies of valid passport or travel documents
Greece Citizenship and Passport
An applicant who has invested €250,000, owns a permanent residence, and has lived in Greece for 183 days in a year can apply for Greece Citizenship and Passport after seven years. Once the applicant gets Citizenship, the applicant can discard the investment and no further continuous investment or renewal is needed.
- Non-residents in Greece pay tax for whatever income they have in Greece but not from another Country.
- Income tax begins from 22% with rental income taxed at 11% to 33%
- Capital Gain Task (CGT) is charged at 15% on sales of property
Processing Time and Fee
The processing time for the application takes a period of 1- 2 months; the applicant needs to make an early investment in Greece before applying for a visa. Application costs vary as the applicant needs to make payment for Government fees, legal fees and others which might give a value of €15,000
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Greece citizenship by investment provides a means for foreigners to obtain residence either through real estate or other means like a business venture. It is highly profitable for investors to be entitled to social benefits in the country.