Greece Golden Visa (GIRP)
The Greece Golden Visa program is a residency-by-investment program that requires a Minimum investment of €800,000 in a property in the entire Administrative Region of Attica (includes Piraeus and most of the capital region), the Regional Units of Thessaloniki, Mykonos, Santorini, islands with a population of over 3,100 inhabitants; or minimum investment of €400,000 in a property in other areas.
Greece Golden Visa (GIRP) Benefits
Residency and Family Inclusion
- Member of EU/Schengen.
Dependents included:
- Spouse.
- Children under 21.
- Parents of the investor and spouse.
Travel and Quality of Life
- Right to reside indefinitely in Greece.
- High standard of education and healthcare, and children have access to free education.
- Free travel within Schengen zone 90 days out of every 180 days.
- Right to establish a business.
Ease of Access
- Fast processing, typically within 6-9 months.
- No physical residency requirement.
- No language requirement.
- Can apply for Greek citizenship after 7 years subject to meeting actual residency and language requirements.
- No wealth tax.
- Low property tax.
- No education or management/ business experience required.
- The GIRP is valid for 5 years and can be renewed.
Greece Golden Visa Requirements
- The applicant must be a Non-EU citizen.
- The applicant must be over 18 years old & in good health.
- Must have medical insurance.
- Make a qualifying real-estate investment which must be held for the entire duration of the residence permit.
Greece Golden Visa Investment Options
Property Investment
- Minimum investment of €800,000 in a property in the entire Administrative Region of Attica (includes Piraeus and most of the capital region), the Regional Units of Thessaloniki, Mykonos, Santorini, islands with a population of over 3,100 inhabitants; or
- Minimum investment of €400,000 in a property in other areas
- The investor must buy a single property with a minimum area of 120m2, and can’t offer the property for short-term rentals.
- The investor can qualify for a minimum investment of €250,000 if the investor converts commercial properties to residential use; or restore listed buildings of historical or cultural significance, regardless of size or location.
Greece Golden Visa (GIRP) Process
Processing time 6 Months
Due Diligence And Application
- Select property in Greece and sign Power of Attorney.
- Complete property purchase.
Approval And Investment
- Book submission date in Greece for application.
- Lawyer submits application documents and obtains temporary residence permit (TRC) for applicant which is valid for 1 year.
- The applicant and dependents must visit Greece to submit biometrics within the validation period of TRC.
Residency
- Approval of the residence permit is typically granted within 2 months.
- May renew every 5 years providing the investment is still held.
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Frequently Asked Questions
How much does a Golden Visa in Greece typically cost?
In order to obtain a Golden Visa in Greece investors must make a minimum property investment of EUR 800,000 in high-demand areas like Attica, Thessaloniki, Mykonos, Santorini, and larger islands; alternatively, they can invest EUR 400,000 in other less popular regions.
Do family members of the applicant also receive benefits from the residence permit?
The Greece Golden Visa allows inclusion of the investor’s spouse, children under 21, and both the investor’s and spouse’s parents.
What occurs when a dependent turns 21 years old? Do they retain their residence permit?
Dependents of Greece Golden Visa holders must renew their permit annually from ages 21 to 24. After the dependent becomes 24 years old, they must invest independently to retain residency.
Is an interview required during the application process for the Greece Golden Visa?
The application process for the Greece Golden Visa does not require an interview.
With the Greece Golden Visa, which countries can the holder travel to without a visa?
Holders of the Greece Golden Visa can travel visa-free within the Schengen Area for up to 90 days within any 180-day period.
Can the holder of a Greece Golden Visa work in other EU countries automatically?
The Greece Golden Visa does not grant the right to work in other EU countries.
Is there a residency requirement in Greece after receiving the residence permit?
Residency in Greece is not required for Greece Golden Visa holders, though a visit is necessary during the application process.
What happens after the initial 5-year validity of the residence permit expires?
The Greece Golden Visa is renewable every 5 years if the investment is maintained.
Does the holder of a Greece Golden Visa receive subsidized healthcare, education, or other social benefits in Greece?
Greece Golden Visa holders receive benefits similar to Greek citizens, including access to subsidized healthcare and free education.
Are there specific areas in Greece where the investment must be made, or can it be anywhere?
Investments for the Greece Golden Visa can be made anywhere in Greece, with varying minimum amounts based on location.
Can the investor reside in the property they have purchased under the Greek Golden Visa?
Investors own and can reside or rent out their purchased property under the Greece Golden Visa.
Is the investor allowed to make additional investments in Greece following the qualifying investment for the visa?
Additional investments in Greece are permitted for Greece Golden Visa holders.
How long must the initial investment be maintained in Greece?
There is no minimum period for holding the investment; the Greece Golden Visa remains renewable as long as the investment is maintained.
How to get Greek citizenship through investment?
Greece does not offer direct citizenship by investment like some Caribbean countries. However, you can become eligible for Greek nationality through the Greece Golden Visa Program (GIRP), which is a residency-by-investment scheme.
The Greece Golden Visa offers visa-free travel in the Schengen Zone, family inclusion, and access to public healthcare and education. It does not require physical residency to maintain the permit, but you must reside in Greece to qualify for citizenship.