Why Greece Golden Visa?
Greece Golden Visa - The Most Attractive Golden Visa Program
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If you’re considering taking positive steps to ensure your financial and personal security through obtaining a second residency, it’s important to understand why Greece offers one of the most effective Golden Visa programs in the world.
When assessing the ideal country and residency program for investment, several factors come into play. These include location, ease of travel, safety and security, amenities at the destination if you plan to relocate or spend significant time there, as well as financial considerations such as taxes and overall cost.
Greece, a stunning country, is highly sought after as a second residency destination for several reasons. Its pleasant climate, picturesque landscapes, and reputation as a secure and sophisticated nation with excellent education and healthcare systems make it an appealing choice. Moreover, Greece boasts a diverse and competitive Golden Visa program, further adding to its attractiveness for investors.
Important Greece Golden Visa News
The Greek government has recently announced an extension of the transitional period for their residency by investment program. Originally scheduled to conclude on April 30th, it will now be prolonged until July 31st, 2023.
This extension grants investors additional time to acquire properties in Greece in highly sought-after regions like Greater Thessaloniki, Greater Athens, Mykonos, and Santorini, which encompass a total of 36 municipalities. Notably, the initial investment threshold of €250,000 remains unchanged.
To secure their residency, investors are required to make a 10% deposit based on the property value before the deadline. Furthermore, they must finalize their property contracts and apply for a residence permit by the year’s end. These measures ensure that investors can fully capitalize on this opportunity while adhering to the established guidelines.
Here are 10 compelling reasons to select the Greek Golden Visa for your second residency:
- Diverse participation options: Investors have the choice to purchase real estate starting from a minimum of €250,000 or opt for a Real Estate Lease or Timeshare option with the same investment threshold.
- Inclusion of family members: The Golden Visa application allows for the inclusion of the applicant’s spouse, any unmarried children under the age of 21 (up to 24 if they are a student), and parents of the applicant and their spouse.
- Right to reside: Upon becoming a resident of Greece, you gain the right to live, work, and invest not only in Greece but across all 27 countries of the Schengen Zone, including France, Germany, Sweden, and Switzerland.
- Visa-free travel: As a member of the European Union, obtaining residency in Greece grants you the privilege of visa-free travel throughout the Schengen Zone, encompassing all 27 EU countries.
- Access to the EU free market: Being a resident of Greece and, consequently, an EU member, grants you unrestricted access to numerous European markets, providing significant potential and financial security.
- No residency requirement: It is not mandatory to reside in Greece in order to obtain or maintain the visa.
- Real estate profitability: Real estate investments can be rented out, offering a consistent income. Rental income is subject to a sliding scale tax ranging from 15% to 45%, while property tax is aligned with other EU countries, starting at 3.09%.
- High standard of living: Greece, with its captivating surroundings, is a sophisticated and developed country enriched with a fascinating history. Relocating or spending considerable time in Greece rewards individuals with a thriving infrastructure, highly regarded education and healthcare systems, all set within an ancient and breathtaking landscape.
- Competitive Tax System: Greece boasts a favorable tax system compared to other European countries. Greek income is taxed progressively ranging from 9% to 45%. Alternatively, High Net Worth Individuals (HNWIs) may choose a fixed payment of €100,000 per year, irrespective of income level. Greece has double-taxation treaties with 46 other countries, safeguarding against excessive taxation.
- Renewable visa and pathway to citizenship: The Greek Golden Visa can be renewed every five years, provided the financial investment is maintained. Greek citizenship can be obtained after just seven years of residency, granting all the rights and benefits of a full citizen in this beautiful country and the EU.
Greece is a welcoming and alluring country, offering an elevated standard of living and the advantages of EU residency in exchange for participation in a competitive Golden Visa program that provides flexible options to investors.
The Greek residency by investment program is open to individuals who:
- Are over 18 years of age
- Have no criminal record in any country resided in
- Have obtained health insurance in Greece
- Can demonstrate the funds required for investment
However, please note that the real estate requirement is soon to change, with an increase in the investment amount. Therefore, individuals considering investment for residency are advised to act promptly.
Our team of international experts at Greece Visa Homes is well-positioned to provide guidance on all aspects of second residency and assist you throughout the entire process. We are more than happy to discuss your requirements in a no-obligation, free consultation.
To get started, CONTACT us today.