Greece Golden Visa: A Guide to Residency through Real Estate Investment
Are you looking for an opportunity to invest in real estate while also securing a visa to Greece?
The Greece Golden Visa program may be the perfect solution for you. This program allows non-European Union citizens to obtain a residence permit in Greece by investing in real estate. In this article, we will explore the requirements for the Greece Golden Visa program, top locations for Greece Golden Visa properties, investment options, and tips for investing in Greece Golden Visa through the Real Estate route.
Introduction to the Greece Golden Visa Program
In 2013, Greece introduced the Greece Golden Visa program to invite foreign investments into the country. It's been pretty effective at attracting investors from all corners of the world, with a particular influx from China, Russia, and Turkey. The program offers non-European Union citizens a shot at getting a residence permit for themselves and their loved ones by investing in Greek real estate. To qualify, one needs to make a minimum investment of €250,000 in real estate. With the Greece Golden Visa program, investors enjoy a range of benefits. For instance, they can move around the Schengen area for up to 90 days during any 180-day stretch, without being tied down to a particular spot.
Greece Golden Visa Real Estate Requirements
To qualify for the Greece Golden Visa program, investors must invest in real estate in Greece. The minimum investment required is €250,000. The investment can be made in one or more properties, as long as the total value of the investment is at least €250,000. The investment must be made in a property that is new or has been built within the last 10 years. The property can be residential or commercial. It is important to note that the Greece Golden Visa program does not require investors to live in the property they purchase. Investors can rent out the property for additional income. However, investors must maintain ownership of the property for at least five years to keep their residence permit. From 31st July, the minimum investment amount for real estate in Regional Units of Northern, Central, and Southern Athens, Thessaloniki, Mykonos, and Santorini will be increased to €500,000.
Top Locations for Greece Golden Visa Properties
Greece has many beautiful locations for real estate investment. Some of the top locations for Greece Golden Visa properties include Athens, Thessaloniki, Crete, Santorini, Mykonos, and Rhodes.
Athens is the capital of Greece and is a popular destination for tourists. Thessaloniki is the second-largest city in Greece and is known for its beautiful beaches and rich culture. Crete is the largest island in Greece known for its beautiful landscapes and beaches. Santorini and Mykonos are two of Greece's most popular tourist destinations, known for their stunning beaches, picturesque villages, and vibrant nightlife. Rhodes is located in the Aegean Sea and is known for its historical significance and beautiful beaches.
Investment Options for Greece Golden Visa Real Estate
There are several investment options for Greece Golden Visa real estate. Investors can purchase a single property or multiple properties as long as the total investment is at least €250,000 till the 31st of July, after which it will be increased to €500,000 for real estate in Regional Units of Northern, Central, and Southern Athens, Thessaloniki, Mykonos, and Santorini. If you're keen on investing in Greek real estate through the Greece Golden Visa program, there are a few options available to you. For example, you can buy a property through a legal entity like a company or partnership. Another option is to invest in a Real Estate Investment Fund (REIF), which allows you to pool funds with other investors to invest in a variety of properties. This can help diversify your investments and potentially yield higher returns.
To help make the process smoother, here are some tips to keep in mind:
Work with a reputable real estate agent to help you find the right property and navigate the purchasing process.
Do your research thoroughly to understand the property, location, and seller before making an investment.
Consider additional costs, such as taxes, legal fees, and maintenance expenses.
Plan for the future by considering the long-term potential of the property, such as rental income and resale potential.
Be patient, as the purchasing process may take longer than expected.
Ultimately, the Greece Golden Visa program is a great opportunity to invest in real estate and obtain a residence permit in Greece. However, investing in real estate can be complicated, particularly in a foreign country. It's crucial to do your due diligence, work with trusted professionals, and consider all costs before making an investment. If you're interested in learning more about the program and investing in Greece Golden Visa properties, don't hesitate to contact our team of experts.
