15/01/2024
What is a Golden Visa?
The Golden Visa program in Greece is a residency-by-investment program that offers a path to obtain Greek residency and eventually citizenship for foreign investors. The program was introduced by the Greek government in 2013 to attract foreign investment and stimulate the economy.
Under the Golden Visa program, non-EU citizens and their families can secure Greek residency by making a qualifying investment in Greece. The investment options include purchasing real estate property with a minimum value of €250,000, making a capital investment in a Greek company, or investing in government bonds or bank deposits.
Once the investment is made, applicants and their families are granted a five-year residence permit, renewable every five years as long as the investment is maintained. The residence permit allows them to live and travel freely within the Schengen Area, which includes 26 European countries.
One of the key advantages of the Golden Visa program is that it does not require applicants to reside in Greece or have a physical presence in the country. This flexibility makes it an attractive option for individuals seeking to obtain residency in Europe while maintaining their lifestyle and business interests in other parts of the world.
After maintaining the residency permit for seven years, investors and their families become eligible to apply for Greek citizenship, subject to meeting additional requirements such as proficiency in the Greek language and passing a citizenship examination.
The Golden Visa program in Greece has been successful in attracting foreign investors and boosting the real estate market. It offers an opportunity for individuals and families to obtain residency and potentially citizenship in Greece, while also benefiting from the advantages of being a part of the European Union.
