Greece Golden Visa: Requirements & Online Application Process

The Greece Golden Visa Program was launched nine years back, in 2013. It is a residence permit allowing you to live in Greece for 5 years. Moreover, you can include your family as well. However, in exchange, you need to make real estate investments in Greece.

Given below are the eligibility requirements for Indians to qualify for Greece Golden Visa –

• You need to be of a minimum of 18 years
• You shouldn't have any criminal record
• As an applicant, you need to be of good character
• You need to have the finances to invest. Importantly you need to have the resources to maintain the investment
• You will be eligible for Greece Golden Visa if you have bought medical insurance from a Greek company

Given below are the details of the investment options that qualify for this visa:

1. Real Estate (Purchase)
   A Greece Golden visa applicant needs to invest a minimum of €250,000 in real estate property in Greece, with 3% to 24% taxes.
2. Real Estate (Lease)
   Additionally, if the applicant wishes to invest in hotel accommodation or tourist residences, he/she would need 10 years of lease agreement.
3. Government Bonds
   The applicant can invest in government bonds. He/she needs to buy Greek government bonds valued at € 400,000 from an authorised institution in Greece. One can also buy corporate bonds or shares, the valuation of which will have to be € 800,000.
4. Capital Contribution
   If someone wishes to opt for a capital contribution, he/she needs to submit a minimum of €400,000 to an authorised Greek company. These companies can include close-ended investment companies, real estate companies or any Greek-government authorised company.
5. Capital Transfer
   A person can deposit a minimum of € 400,000 at a bank in Greece. But he/she needs to hold the deposits for a minimum of one year.

Given below are the terms and conditions associated with the purchase of properties in Greece:

• You must own 100% of the company shares if you have purchased the property through a legal entity
• You need to own and possess the real estate property
• If you have opted for hospitality accommodation, the agreement needs to be of 10 years. Additionally, the rental amount has to be €250,000.
• If you lease a property for 10 years, the rent amount must be paid in a single payment.

Given below are the steps you can follow for applying for this visa:

Step 1: Determine Whether You Need an Entry Visa

You might be required to apply for a Greek Schengen Visa for visiting Greece. This visa is valid for 90 days. You can use this visa to visit the country and explore investment possibilities. You can opt for a national D visa, valid for 365 days, in case you need more time. Please remember that you need to submit the Greece Golden Visa application before the current visa expires.

Step 2: Consult a Golden Visa Advisor

This is optional. You can choose to deal with the entire application and investment on your own. But many agencies provide free consultations. These agencies analyse whether you are eligible to invest in Greece or not. They also check investment options for you. These agencies ensure that your Greece Golden Visa application doesn't get rejected.

Step 3: Select Your Investment

It's time to visit Greece and check the properties that are suitable for you to invest in. Depending on your preferences and circumstances, you can opt for options other than real estate. Now, you also have the option to select the properties remotely.

Step 4: Complete the Legal Formalities

You can obtain a Greek Non-Resident Tax Number. Open a bank account in Greece. You can opt for the execution of power of attorney.

Step 5: Acquire the Property

Your legal representative can execute the property's 'legal due diligence'. Then you need to obtain the promissory sale, the purchase agreement and the execution of a public deed.

Step 6: Apply for Greece Golden Visa

Once you have finalised your investment option, collect the required documents and apply for a Greece Golden Visa. Make sure you have filled up all the details accurately. Submit the application with the required documents.

Step 7: Wait for Minimum 3 Months

The processing of the visa application will take a minimum of 3 months. If you receive a positive response from the consulate, you must travel to Greece to submit your biometric information.

Step 8: You will Receive the Residence Permit in Greece

After the entire process is completed, you will receive the Greece Golden Vis

Given below is the list of documents required for the visa application:

• Application form
• Passport – original and a copy
• Passport size pictures following the Greek visa photo requirements
• Proof of income or financial resources
• Proof of payment of applicable fees
• Proof of purchase of medical insurance in Greece
• All the requisite documents related to your investment

The application costs up to €300 to process your request. However, there are associated expenses as well. For example, you need to invest a minimum of €250,000 in Greece. However, if you wish to invest in shares and government bonds instead, you must spend €400,000.

Only if you have made investments of the required amount will you become eligible for applying for a Greece Golden Visa.

This residency program enables you to travel across the Schengen Area countries without a visa. But this is one of its many benefits. Let's delve deep.

It's time to take a look at benefits of Greece Golden Visa –

• Visa Free Travel: This permit allows you to freely travel across Schengen countries in Europe without a visa.
• No Special Resident Requirement: There's no requirement that you have to reside in Greece.
• Residence for Family: The entire family is eligible to avail of residence in Greece. Here, family means the applicant's spouse, children under 21 years and the applicant's parents).
• Income and Holding of Shares: Greece Golden Visa enables people to hold shares and receive earnings from the dividends of a company located in Greece. However, it doesn't permit an individual to seek employment in Greece.
• Opportunity to Rent Out: This particular visa allows people to rent out the property they have invested in.
• Citizenship Eligibility: Greece Golden Visa holders who have resided in the country for seven years become eligible for Greek citizenship.

The validity period of this particular visa is five years. You can easily renew the visa after five years.

Moreover, if you fulfil the requirements, you can apply for Greek citizenship after seven years.

This blog provided the crucial details related to Greece Golden Visa, which carries many benefits. People, who wish to apply for this particular visa, need to first invest in Greece. The specified investment amounts have been detailed in the blog.