Greece is a superior destination not only for vacations but also for living. If you are a foreigner, you can stay legally in the country easily. The Greek Golden Visa is an immigration opportunity much appreciated by many expats who are already residing in this astonishing state and enjoying their lives.
Overall, this is a 3-in-1 program. It envisages one application but an opportunity to apply for the family members of three generations at once! Aside from that, the Greek Golden Visa can also provide expats with a huge number of benefits.
In this brief review, professional lawyers from Astons are ready to share with you first-hand information about the key highlights and benefits of this exceptional immigration opportunity.
Why Choose the Greek Golden Visa?
The Greek Golden Visa is a 100% comprehensive immigration program that fewer people know about. However, it is a huge achievement to succeed with the application for this visa for the following reasons:
- EU-residency provided. Since Greece is an EU Member State, once you get its Golden Visa, you automatically get EU residency as well. It is provided for 5 years and is renewable.
- Comparatively low entry threshold. Given the jurisdiction’s prestige, the minimum investment amount is quite reasonable. It starts at €250,000 but may increase in some very popular Greek destinations. We will learn the details about this issue further.
- The applicable legislation allows three generations to apply at once. The expats can apply along with their spouses, children, and parents.
- There are no relocation requirements. You do not need to relocate physically to Greece or have physical residency there at the time of applying. Any requirements of this kind are not applicable before or after obtaining the Greek Golden Visa.
- Tax benefits. Domestic taxes apply to expats, which makes the program very beneficial per se.
- Visa-free travel to the Schengen Zone countries. The Greek Golden Visa has a very pleasant bonus: the opportunity to attend and stay for 90 days during any six-month period without a visa.
- World-class living standards. The Greek Golden Visa allows expats to enjoy the most advanced medical facilities, attend prestigious universities, and enjoy superior shopping opportunities. Greece’s overall quality of life is very high, which makes it very comfortable to live.
In addition, there is another valuable feature—fast turnaround time. It takes approximately 6 months to get a decision after submitting the application, provided that you fulfill all application requirements correctly. If you need more detailed help assessing the scope of benefits available in your case, contact Astons professionals for personalized and detailed advice.
Eligibility Requirements for the Program
Obtaining the Greek Golden Visa requires following some strict requirements, including procedural. In this section, we will review the essential requirements to comply with and succeed with your application:
- Property investment and holding. The Greek Golden Visa program is property-oriented. The major applicant needs to acquire local property, which may be commercial or residential, for personal use. If the application is approved, the Visa owner needs to hold this property for the entire time the visa is effective.
- Investment value. As noted above, the minimal entry threshold for applying to this visa program is €250,000. In fact, there are three investment zones in Greece. The mentioned threshold applies when expats acquire real estate property for restoration or conversion.
There are also very popular destinations, such as Athens, Thessaloniki, and the Greek Islands, where expats must purchase property valued at least €800,000. A basic minimal threshold to file documents for the program is €400,000 in all other areas.
- Physical presence is not required. There is no requirement to reside in this state for some time prior to applying for its Golden Visa, and there is no requirement to live there temporarily or permanently after getting the visa. The single trip that will be required in the course of the application is to visit Greece to provide biometrics.
- Health. Before filing the documents for their Golden Visa, the expats must confirm good health and arrange local Greek health insurance in advance.
- Due diligence. In addition to completing documents correctly, applicants must pass some background checks during the application. However, local officers never request sensitive information about applicants. Applicants are primarily required to provide identity documents, prove the absence of criminal records, and prove the legal origin of the funds used to acquire real estate in Greece.
Additional Fees to Keep in Focus as Well
If you want to set your budget for this program, there are essential aspects to keep in mind. Aside from the property value itself, the application process is always associated with some minor extra expenses:
- Taxes — the real estate acquisition in this jurisdiction leads to the application of the 3.09% tax, which is calculated from the agreement price.
- Registration fee — 0.6%, however, in some regions, it may be different.
- Notary fee — around 1.5% of the property value (VAT is charged in this case as well).
- Health insurance — it is needed for each applicant and costs around €150 per person.
- Immigration fees — the major applicant pays €2,000, while any additional family member should pay €150 per person.
- Card issuance — €16 per person
- Translation of documents — starting from €200.
If you want to obtain more precise calculations of your supposed application expenses, contact Astons lawyers for a detailed assessment.
Bottom Line
Immigration is sometimes a forced and sometimes a backup solution. Regardless of your life circumstances, there are exceptional immigration programs in Europe.
The Greek Golden Visa is always shortlisted among the best options in this case. It allows applicants to get this visa for three generations at once. It is simple, clear, and straightforward, provided that you follow all of the legal and bureaucratic formalities.
No Regrets Booking Advice
If you have chosen to favor this immigration program and want to streamline the process, contact Astons lawyers for professional advice. Experienced immigration attorneys will help you reach your beloved destination, but as a legal resident, no longer as a tourist only.