Why Greece Golden Visa is the Best Choice for Investors in 2024? (2024)

What is the Greece Golden Visa Program about?

The Greece Golden Visa program, launched in 2013, offers a residency-by-investment opportunity for non-EU citizens seeking Greek residency by investing in real estate or other assets in Greece. This program grants a five-year residence permit in exchange for a minimum €250,000 real estate investment in Greece and extends the residency opportunity to include your family members. With the Greek Golden Visa, you can reside in Greece and travel freely across the Schengen region without needing a visa.

Take the initial steps in your journey by understanding the Greece Golden Visa program, eligibility criteria, investment requirements, and other pertinent details before making your decision. Let's embark on this journey together.

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Benefits of the Greece Golden Visa Program

• Most Affordable Residency Option: Greece offers one of the most cost-effective Golden Visa programs in Europe, providing investors with an affordable pathway to residency in the European Union.
• Right To Live in Greece: Immerse yourself in Greece's captivating landscapes and rich cultural heritage by enjoying the privilege of residing in this beautiful country.
• Visa-Free Travel With Greece Residence Permit: With your Greece residence permit, explore Europe hassle-free, benefiting from unrestricted travel within the Schengen area and beyond.
• Family Reunification: Bring your loved ones together under one roof in Greece, as the main applicant can extend the residency benefits to their spouse, children, and even parents, fostering a sense of unity and belonging.
• Low Investment Threshold in a Promising Real Estate Market: Access the Greek property market with ease through a minimum investment threshold, providing opportunities for lucrative investments in sought-after locations.
• Double Taxation Treaty Benefits: Benefit from optimized tax arrangements under the Double Taxation Treaty, ensuring favorable taxation for individuals with financial interests in both Greece and their home country.
• Quality Healthcare Access: Gain access to Greece's high-quality healthcare system, ensuring peace of mind for you and your family's well-being with comprehensive medical services and facilities.
• Fast Processing (90-120 Days): Experience streamlined procedures with a residency permit issued within 90 to 120 days, allowing you to start enjoying the benefits of Greek residency sooner without unnecessary delays.
• Citizenship Eligibility in 7 Years: Lay the foundation for Greek citizenship eligibility after seven years of residency, providing a pathway to European citizenship for you and your family, opening up a world of opportunities.
• Diverse Island Haven: Explore the diverse beauty of Greece's islands, from the stunning beaches of Mykonos to the tranquil landscapes of Santorini, offering residents and visitors unforgettable experiences and a serene lifestyle.

Unveiling the Figures: Greece Golden Visa Statistics

Between 2014 and 2021, a total of 9,610 main applicants received their Golden Visa in Greece. As of 2023, over 31,000 Greek Golden Visa permits were granted to the main applicants and their dependents in total. These applications directed in excess of €2.6 billion of global funds into Greece.

28,767 residence permits in total have been granted to investors/real estate owners and their families in Greece as of 31 December 2021.

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Top Nationalities for Greece Golden Visa

• China: 7,186 applicants
• Turkey: 912 applicants
• Russia: 756 applicants
• Lebanon: 592 applicants
• Egypt: 419 applicants
• Other nationalities: 807

In order to qualify for a Golden Visa in Greece, you must meet the following requirements:

• Be a non-EU/EEA country citizen
• Be at least 18 years of age
• Have a clean criminal record
• Have medical insurance for yourself and your family
• Be of good character

As of 2021, you no longer need to visit Greece in person in order to start your application.

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Investment Options of Greece Golden Visa

There are several investment types that qualify you for a Greece Golden Visa. These include real estate and government bonds investment.

Real Estate Investment

• A minimum of €250,000 to purchase a real estate property in Greece except in municipalities in Athens, Thessaloniki, Mykonos, and Santorini. This can be invested in one or across multiple properties.
• A minimum €500,000 to purchase a real estate property in municipalities in Athens, Thessaloniki, Mykonos, and Santorini as of July 31st, 2023. This needs to be invested in one (1) single property.
• 10 years of a lease agreement, whether signed for hotel accommodations or furnished tourist residences in integrated tourist resorts.

Other Investment Options

• A minimum of €400,000 investment in Greek government bonds, bonds, or shares of real estate investment companies in Greece, shares and bonds of venture funds and private equity which have headquarters in Greece.

Revisions to the Greece Golden Visa Program in 2024: What's Changing?

The Greek Minister of Finance revealed significant adjustments to the Greek Golden Visa program, set to take effect from March 31, 2024. Under the revamped regulations, there will be two distinct zones with varying minimum property value requirements. In high-demand regions like Attica, Thessaloniki, Mykonos, Santorini, and select islands, the minimum property value for eligibility will be 800,000 EUR, while in other areas, it's set at 400,000 EUR.

Furthermore, there are exceptions to the rule. Properties undergoing conversion from commercial to residential use or those involved in the restoration of listed buildings will maintain the existing 250,000 EUR threshold. However, for such conversions, full transformation must be completed before application. Additionally, strict usage restrictions apply, prohibiting short-term rentals via sharing platforms and the use of conversion scheme properties as Company Registered Seats.

Investors still have a transitional period to navigate. Until September 30, 2024, they can apply under the current 250k threshold by paying a 10% deposit and finalizing the investment by December 31, 2024. Alternatively, if the property purchase isn't completed on time, they have until April 30, 2025, to invest in another property. While these changes aim to refine the Golden Visa program, the fundamental aspects of the current law remain unchanged.

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Join Soland, where every investment is a stepping stone to a life of culture, grace, and distinction. Your journey with us is not just an experience - it's the beginning of a legacy that defines majestic living.

Visit www.solandworld.com or reach out to us at info@solandworld.com to discover how you can embark on a transformative journey. Whether you're interested in acquiring luxurious real estate, establishing a thriving business, or securing your future through citizenship and residency, Soland is here to guide you every step of the way.

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