Golden Visa
A Short Guide to Obtaining Greece's Golden Visa Through Real Estate Investment
The Golden Visa program in Greece is a residency-by-investment scheme that allows non-EU/EEA citizens to obtain a renewable five-year residency permit in exchange for a significant investment in the country, most commonly through real estate. Here's an overview of the procedure:
To qualify for the Greek Golden Visa, you must make a minimum investment in real estate valued at €500,000. This can be through the purchase of one or multiple properties that together meet the minimum investment amount. Alternative investment options also exist, such as investing in Greek government bonds, shares of Greek companies, or making a capital contribution to a Greek company.
Applicants need to gather various documents, including a valid passport, proof of the investment (such as a property deed or contract), a clean criminal record from the country of origin, health insurance that covers medical expenses in Greece, and other personal documents.
It's advisable to hire a lawyer in Greece to navigate the legal process. The lawyer can help with the property purchase, ensure all documents are correctly prepared, and submit the residency application on your behalf.
Once you've selected a property and completed the purchase, your lawyer can proceed with submitting your application for the Golden Visa. The application can include family members, such as a spouse, children under 21, and parents of both spouses.
After submitting the application, you and your family members included in the application must visit Greece to provide biometric data (fingerprints and photographs) necessary for the residency cards.
The processing time can vary, but once approved, you will receive a five-year residency permit. This permit allows you to live in Greece, travel freely within the Schengen Zone, and includes access to public healthcare and education.
The Golden Visa can be renewed every five years, provided the investment is maintained. There is no minimum stay requirement in Greece to renew the visa.
While the Golden Visa does not directly lead to Greek citizenship, it's possible to apply for citizenship after seven years of residency, subject to meeting other criteria, including language proficiency and integration measures.
The Greek Golden Visa program is attractive due to its relatively low investment threshold, the inclusion of family members, and the freedom of movement within the Schengen Area. However, potential investors should consider the implications, including tax residency and the need for careful legal and financial planning.
Crete’s Up-and-Coming Areas. Where to Invest in Real Estate Now
Discover Southern Crete | The Prime Investment Destination for Real Estate
Southern Crete is rapidly emerging as a hot spot for real estate investment, offering a blend of pristine landscapes, unspoiled beaches, and rapidly growing market opportunities. This enchanting region, known for its rich history and vibrant culture, is now catching the eye of investors and homebuyers alike, looking for promising locations outside the more developed areas of the island.
In comparison to the Northern part, Southern Crete boasts a more laid-back atmosphere, with untouched natural beauty and traditional Cretan villages. This tranquility, combined with the area's growing accessibility, makes it an ideal location for those seeking a serene lifestyle or a profitable investment in vacation homes and rental properties.
Southern Crete is standing out as a promising real estate market with its blend of natural beauty, investment opportunities, and lifestyle benefits. Whether you're looking for a holiday home, a rental property, or a commercial investment, now is the time to explore what this enchanting region has to offer. With the right guidance and local expertise, you can unlock the potential of Southern Crete and make a strategic investment in one of Greece's most captivating areas.
For those considering an investment in Southern Crete, partnering with a knowledgeable local agency like A&D Real Estate can provide invaluable insights and access to prime listings. With a deep understanding of the local market dynamics and a commitment to personalised service, A&D is equipped to guide you to the best investment opportunities in this up-and-coming region.