Greece Golden Visa for UK Citizens
Greece Golden Visa for British Citizens - Complete Guide
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With the recent launch of new visa programs, foreign investors now have greater ease in pursuing their dream lives. Among these programs, the Golden Visa offered by European countries like Portugal, Spain, and Greece stands out as one of the most popular choices. This visa allows holders to live, work, study, and freely travel throughout the European Union.
These countries extend residency by investment opportunities to eligible candidates from around the globe. Notably, the United Kingdom has also joined this list. Therefore, before delving into the details of the Greece Golden Visa for UK citizens, let us gain a comprehensive understanding of what the Greece Golden Visa entails.
Greece Golden Visa Program
The Greece Golden Visa program stands out as an affordable and expeditious residency-by-investment initiative ever introduced in the EU. This program grants a residence permit to real estate buyers surpassing a predetermined threshold. Experience the benefits of this exceptional program while investing in Greece’s real estate market.
To be eligible for the Greece Golden Visa, there are certain minimum investment requirements that must be met. Applicants must meet one of the following requierments:
- Purchasing a property valued at least €250,000
- Entering into a ten-year lease agreement for accommodations or furnished tourist residences
- A minimum investment of €800,000 in Greek government bonds for a five-year holding period.
- A minimum investment of €400,000 is required for real estate bonds or shares in investment companies, to be held for at least three years
- At least €400,000 investment in bank deposits.Required Documents
Important Note: as of 1 May 2023, new regulations will come into effect, increasing the minimum real estate investment amount for the Greece Golden Visa to a total of €500,000 from the previous €250,000. However, this regulation will only apply to selected regions, namely the Municipality of Thessaloniki, the Greater Area of Athens, and the islands of Mykonos and Santorini.
Greece Visa Homes is your trusted partner for finding your dream property in Greece. Our dedicated team of expert advisors specializes in assisting global investors and families in their property acquisition journey. From guiding you through the process to ensuring you have a clear understanding of tax obligations, we are here to support you every step of the way. Feel free to reach out to us with any inquiries; we’re committed to providing comprehensive assistance tailored to your needs.
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All The Required Documents
To apply for the visa, you will need the following documents:
Copies of the application document.
- Recent passport photos.
- Valid passport or travel documents recognized by Greece.
- Proof of payment for the application fee.
- Health insurance that covers the entire duration of your stay.
Once you have fulfilled these requirements, you can proceed to apply for the visa with the assistance of a Greek lawyer. It is important to note that the application process may take approximately 1-2 months for approval.
The Greece Golden Visa is initially granted for a period of five years and can be renewed as long as the property investment is maintained. If you would like to learn more about the program, we invite you to explore our comprehensive guide, the Ultimate Guide to Greece Golden Visa.
Are British citizens eligible for Golden Visa in Greece?
British citizens and foreign investors now have the opportunity to apply for the Golden Visa in Greece. Since the Brexit deal in January 2021, where the UK officially exited the EU, many UK citizens have been concerned about the implications. The agreement brought about changes in rules pertaining to living, working, and trade between the UK and EU.
Previously, as part of the EU, UK companies enjoyed the privilege of tax-free buying and selling of goods across EU borders. They had the freedom to engage in unrestricted trade and business activities. However, with the end of the freedom to work and live between the UK and the EU, British citizens now require a visa to stay in the EU for more than 90 days within a six-month period.
Nevertheless, this change does not hinder UK nationals from applying for the Greece Golden Visa. Once they obtain their visa, they can continue to work and reside in Greece for the designated duration.
Greece Golden Visa: The Benefits for UK Citizens
The Golden Visa presents numerous advantages for UK citizens, benefiting both individuals and their entire families. Let me outline just a few of these exceptional perks.
Visa-Free Travel to EU Schengen Countries
Individuals holding the Greece Golden Visa are not obligated to obtain an additional visa for traveling to Schengen countries. The visa system and border control have been officially abolished among the 26 countries within this zone. This facilitates seamless movement and enhances convenience for visa holders across the region.
The Option and Right to Live in Greece
The visa provides the holder and their family with the opportunity to reside in Greece. It grants access to healthcare and educational benefits for the entire family. Notably, unlike certain other countries, Greece does not impose a minimum stay requirement to be eligible for the visa. Furthermore, the individual can enjoy an indefinite stay in the country.
Residency for the Whole Family
Moreover, the residence scheme allows the spouse and dependent children (under 21 years old) to accompany the applicant. All of them are eligible to enjoy the advantages of a Golden Visa card.
Additionally, the Greece Golden Visa for UK citizens offers an extended family benefit. This means that the applicant’s parents and parents-in-law can join the family in Greece. Furthermore, there are no additional requirements for this provision.
High Quality of Life and Low Cost of Living and Healthcare
The cost of living in Greece is significantly lower compared to many European countries. For instance, average monthly living expenses for individuals are around €600. However, for students, €500 per month is sufficient.
Moreover, as an expatriate, you have access to both private and public healthcare facilities. While public healthcare services are free of charge, private services may be a bit expensive. Additionally, if you have public healthcare insurance, you can benefit from state medical facilities completely free of cost.
In summary, a regular visit to a family doctor without insurance costs approximately €40.
Excellent International Schools with British Curricula
When relocating to a new country, parents are understandably concerned about their children’s education. In Greece, both expatriate and local children have the privilege of receiving free education from public schools and universities. Additionally, there are several international schools that offer the renowned British academic curriculum. Although these institutions may come with a higher tuition fee, they provide exceptional, world-class education.
Benefit from Greece’s Tax Treatments for UK Citizens
Residing in Greece automatically makes an individual a tax resident, but to prevent visa holders from being taxed on income from both countries, the UK and Greece have entered into a double tax treaty. This treaty ensures that residents only need to pay taxes in one country.
However, it is highly recommended to seek guidance from an income tax advisor when applying for the Greece Golden visa as a UK citizen. This will help you gain a better understanding of the tax system and ensure compliance.
More Sun and Fewer Crowd than the UK
Greece boasts the finest climate in Europe, basking in nearly 3000 hours of sunshine each year, surpassing even the UK. The warm and inviting weather adds to its charm. Furthermore, Greece has a relatively low population, promising a higher quality of life for its residents. This low-density environment also presents excellent prospects for business expansion and thriving amidst competition.
Greece Visa Homes: We Can Help
Greece Visa Homes is a comprehensive investment immigration agency and investment advisory firm. We specialize in providing end-to-end solutions for residence and citizenship through investment programs in multiple countries worldwide.
With a local office in Athens, Greece, our team comprises legal professionals and chartered real estate experts. We cater to clients from across the globe who are interested in obtaining Greece Golden Visas or making real estate investments in Greece.
Get in touch with us and have a conversation with one of our knowledgeable team members who can assist you with any and all of your inquiries.