How to Get Golden Visa with Buying Property in Greece?

The Greek Golden Visa program allows non-EU/EEA citizens to obtain temporary residence in Greece and visa-free mobility across Schengen countries, via an investment in the country. In this blog, we will walk you through the benefits of obtaining such a visa, which are the eligibility criteria and some of the investment options that you can choose from. Lastly, we will walk you through the process and the required documentation. Given we are not lawyers, or any form of government entity, please use the below information as directional guidance and please advise your lawyers for more details. Hellenic Residences does have a lawyer team that can help you go through the Golden Visa process, so feel free to reach out. Always happy to help.

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^{Greek Golden Visa Benefits}

There is so much goodness in having the Greek Golden Visa. First and foremost, it allows you to reside in the country for as long as you want. This means you can experience 300 days of sun, a magical natural beauty across islands and mountains, an excellent healthcare and education system and the financial benefits that are all laid out in our “Why Invest in Greece?” blog. However, one is not required to reside even one day in Greece to maintain the visa, or else there are minimum stay requirements in place. In addition, you are free to travel without any visa needs across the Schengen Zone. And that’s not only for you, but for all your direct family members like your spouse, children under 21 years old, as well as your parents. This visa is also a great path for you and your family to become citizens and thus get a passport in Greece that is an EU member state. Last but certainly not the least, all this is offered in one of the most competitive minimum investment requirements across the EU.

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^{Investment Options to Obtain the Golden Visa}

To be eligible for the Golden Visa in Greece, you must invest in one of the following ways:

• Purchase one or more real estate properties that in total worth of €500,000 and above
• Sign a lease agreement with a hotel or a touristic organization for at least 10 years
• Invest at least €500,000 in a company registered in Greece
• Invest at least €500,000 in Greek government bonds
• Invest at least €500,000 in bonds or shares of real estate investment companies
• Deposit €500,000 in a Greek bank

Keep in mind that to finalize such investments you can either be physically present or give Power of Attorney to a legal representative.

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^{Eligibility Criteria}

Any non-EU individual that satisfies the below criteria is eligible to apply:

• Must be above 18 years old
• Must not have any criminal record in any of the countries they have resided
• Must have invested the required amount in one of the above-mentioned investment options
• Must have obtained health insurance from a company operating in Greece

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^{Duration, Renewal Requirements and the Path to Citizenship}

The Greek Golden Visa is issued with a 5 year expiration date, but it can be renewed indefinitely as long as the investment that granted the visa has remained. In addition, if you choose to reside in Greece, after 7 years of active residency in the country, you become eligible to apply for Greek citizenship and thus obtain an EU passport.

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^{Golden Visa Application Process & Timeline}

To obtain the Greek Golden Visa, you must apply at the Alien and Immigration Department at the Decentralized Authority in Greece. In some cases, depending on your country of residency and/or country of citizenship, you may need to apply for an entry tourist visa at one of the Greek Embassies or Consulates abroad. In general, it is advisable to hire a lawyer that can help you through the end to end investment and visa process. With regards to the Golden Visa application process, below are the most common steps and the overall timeline. 

1. Once you obtain a tourist visa from the closest Greek Consulate or Embassy (if needed), you must visit Greece to finalize your investment.
2. You must collect the required documents (as mentioned above).
3. You must submit the documents to the local Alien and Immigration Department.
4. You will then need to wait for the visa to be processed. On average, decisions are made within 3 months.
5. Once the visa is approved, you will have to travel back to Greece to submit your biometric information.
6. Lastly, will receive a Golden Visa residence permit, which will be valid for five years.

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^{Required Documents to Apply for a Greek Golden Visa}

For your application, especially when to comes to applying for visa given your investment in one or more real estate properties, the following paperwork is needed:

• A filled application form.
• Recent passport-size pictures of yourself that abide by the Greek visa photo requirements.
• Your valid passport and a photocopy. The passport must include the entry visa in Greece (if applicable).
• Proof of payment for the relevant government fees.
• Proof of obtaining health insurance in Greece for yourself and any family members.
• Proof of your funds.
• A purchase contract stating no conditions or exemptions in the purchase, showing the total purchase price, and indicating the method for the full payment, via credit held in an institution operating in Greece or via a credit transfer.
• Proof of contract transfer by the accountable Land Registry
• Certificate issued by the Land Registry proving there has been no impediment related to the purchase.

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All in all, getting a Greek Golden Visa is not only a worthy endeavor for you and your family, but it’s also a very straightforward and quick process. In a few months, you can benefit from the Golden Visa and start living the flexible life you dreamt of. The Hellenic Residences team is always here to help you make the investment as well as guide you through the end to end Golden Visa attainment process along with our partnering lawyers. Feel free to contact us anytime.

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