Golden Visa Law
Golden Visa Law
The Greek Golden Visa Law sets out the requirements for granting residence permits to foreign investors in Greece. It provides a flexible and low-cost scheme to investors and their family members who wish to acquire residency by investment or a second passport.
Key Notes of the Golden Visa Law
The investment should be made directly in the name of the investor and Main Applicant of the Golden Visa. If the investment is made through a legal entity, the natural person applying for the Golden Visa should own 100% of the company shares. Offshore and Non-EU companies do not qualify for the Golden Visa through real estate investment.
Joint investment is only permitted for the real estate option. Yet, each investor should meet the minimum investment amount to be eligible for a Greek Golden Visa (i.e. two friends can buy a property of €250,000 jointly, and both their families shall qualify).
Spouses, however, when investing the minimum amount (i.e. €250,000) to buy a property jointly, are both qualified for a residence permit. Still, this exception for joint investment by spouses does not apply to financial investments.
It is possible to switch from the Golden Visa through term deposit or other financial investments to Golden Visa through real estate, and vice-versa, without losing your residency rights.
Joint investment is only permitted for the real estate option. Yet, each investor should meet the minimum investment amount to be eligible for a Greek Golden Visa (i.e. two friends can buy a property of €250,000 jointly, and both their families shall qualify).
Spouses, however, when investing the minimum amount (i.e. €250,000) to buy a property jointly, are both qualified for a residence permit. Still, this exception for joint investment by spouses does not apply to financial investments.
It is possible to switch from the Golden Visa through term deposit or other financial investments to Golden Visa through real estate, and vice-versa, without losing your residency rights.
How Long Does the Golden Visa Last?
The residence permit is practically granted for a lifetime, with consecutive 5-year renewals.
There is no limit to how many times a residence permit can be renewed, provided that the applicant still be in full ownership and possession of the minimum investment (real estate or financial).
There is no minimum-stay requirement, by means that the Golden Visa holders are not required to stay in Greece, or visit Greece, to maintain their residency rights. Still, it is required to return every five (5) years to update their biometric data.