Watch our most recent webinar on Greece, and learn about the latest news on how to get your Greek Golden Visa.
QUICK FACTS
Full name: Hellenic Republic
Capital city: Athens
Population: 1,260,138
GDP in current prices: USD $250 billion (2023)
Area: 132,049 km²
Currency: Euro (€) (EUR)
Greece is one of the oldest countries in Europe and is generally considered to be the cradle of Western civilisation. Situated in Southeast Europe on the southern tip of the Balkan Peninsula, the country shares land borders with Albania to the northwest, North Macedonia and Bulgaria to the north, and Turkey to the northeast. The rest of the mainland is washed by the Aegean Sea to the east, the Mediterranean and the Cretan Sea to the south, and the Ionian Sea to the west.
Residency and Citizenship by Investment
Requirements under the new rules:
1.New Investment Tiers: The Golden Visa now has tiered investment requirements based on geographic zones:
- Tier 1 (€800,000): Applies to high-demand areas such as Athens, Thessaloniki, Mykonos, Santorini, and other islands with populations over 3,100 residents. The property must be at least 120 square meters.
- Tier 2 (€400,000): Covers all other regions of Greece, promoting investment outside the major urban centers. Properties must also be at least 120 square meters.
- Tier 3 (€250,000): Targets properties converted from commercial to residential use before applying for the Golden Visa. There are no specific size requirements.
- Tier 4 (€250,000): Focuses on properties of historical or cultural significance that have been fully restored or reconstructed by the investor, without size restrictions.
Fast Track: Greece Golden Visa: Residence Permits for investment in securities or a bank deposit in Greece
The entrance and residence of third country nationals is permitted in Greece, for the purpose of making an intangible investment in Greece in specific forms of securities or a bank deposit exceeding the value of €400,000, either as individuals or through legal entities. The process for fast track takes approximately 60 days
Advantages of the Greece Golden Visa Program include:
- No requirement to actually reside in Greece
- Residence permits can be acquired within 30–60 days
- Visa-free travel within Europe’s Schengen Area
- Unlimited expiry date of residence permit, subject to continued property ownership
- Opportunity to rent out the investment property
- Residence applies to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse)
- Permit holders may hold shares and receive income from the dividends of a company registered in Greece; however, they are not allowed to be employed in Greece.
Why invest in Greece?
Greece is a leading destination for tourism worldwide thanks to its cultural heritage, extensive beaches and Mediterranean climate.
Greece has no fewer than 18 UNESCO World Heritage Sites and its island Santorini – a favourite destination for cruise passengers as well as direct holiday-maker.
The total number of international tourists to Greece reached 34.2 million during 2019, almost 20% higher than 2018’s total of 28.7 million and more than double the number of arrivals in 2009.
Greece has an advanced high-income developed economy with a high standard of living. The country went through a period of rapid economic growth after joining the EU, averaging over 2.5% real year-on-year growth between 1984 and 2007, by which time Greece had climbed into the World Bank’s list of top 30 largest economies by nominal GDP.
The economy, which now ranks 51th in terms of nominal GDP, is largely based on services, tourism and shipping. The GDP and all economic factors are on a constant rise since 2015, and according to economists, this will keep getting better and better. FocusEconomics forecasts a GDP growth 5.1% in 2021, and of an additional 4.0% in 2022; all these figures indicate that it is the ideal time to start investing in Greece.
Get in touch with our team or sign up to our CBI Newsletter and get the latest information on Greece Golden Visa or Residency Visa. Email us now info@blsmedia.co.uk or Register now your interest for a Greece Golden Visa
