How to Obtain Greek Residency Through Property Investment: A Global Investor's Guide

The Golden Opportunity: Greece's Property Investment Program

Greece welcomes global investors with open arms, offering residency permits in exchange for property investments. Here's the current landscape:

• Minimum investment: €250,000 (valid until August 31, 2024)

• Future thresholds (effective September 1, 2024):

  • €800,000 in popular areas (e.g., Athens, Thessaloniki, Mykonos, Santorini)

  • €400,000 in other parts of Greece

• Special provision: €250,000 investment option remains available for:

  • Converting commercial properties to residential use

  • Restoring buildings of historical significance

This flexibility in investment options makes the program particularly appealing, especially for those interested in property development or restoration projects. The program doesn't require continuous residence in Greece to maintain your permit, adding to its attractiveness.

Key Benefits of Greek Residency

1. Visa-free travel within the Schengen Area

2. Option to rent out your property

3. Family inclusion (spouse, children under 21, and parents of main applicant and spouse)

4. Pathway to permanent residency and potential citizenship

Step-by-Step Guide to Greek Residency

1. Property Selection and Purchase

   • Choose from a wide range of eligible properties across Greece

   • Complete the purchase with a minimum investment of €250,000

2. Obtain Essential Documentation

   • Secure a Greek tax identification number (AFM)

   • Open a Greek bank account

3. Golden Visa Application

   • Gather required documents:

     • Proof of property investment

     • Clean criminal record

     • Valid health insurance for Greece

     • Standard immigration documents

4. Submit Your Application

   • Apply at a Greek consulate in your home country or directly in Greece

5. Await Processing

   • Typical processing time: 3-4 months

6. Receive Your Residence Permit

   • Valid for 5 years

   • Renewable indefinitely (as long as you maintain the property investment)

Important Considerations

• Property Taxes: Be prepared for a one-time 3.09% tax on property value and low annual property taxes

• Rental Income: If you choose to rent out your property, income is taxed appropriately

• Citizenship Path: After 7 years of residence, you may be eligible for Greek citizenship (additional requirements apply)

Why Choose Greece?

• Rich cultural heritage

• Beautiful Mediterranean climate

• Strategic location within Europe

• Potential for property value appreciation

• High quality of life

Expert Tip: While it's possible to start the process remotely, engaging a local lawyer specializing in property law and immigration is highly recommended to navigate the nuances of Greek bureaucracy and ensure a smooth transaction. Greece's Golden Visa program offers a unique opportunity to secure European residency while investing in a beautiful and historically rich country. Whether you're seeking a holiday home, a rental investment, or a potential future permanent residence, Greece welcomes you to become part of its story. Ready to take the next step towards Greek residency? Contact our team of experts today to start your journey to the Mediterranean lifestyle you've always dreamed of!