The Greece Golden Visa grants a five‑year residence permit to non‑EU investors who purchase real‑estate in Greece, with the option to extend the permit as long as the investment is maintained. The permit is issued as a plastic residence‑card rather than a passport sticker and allows the holder and their immediate family (spouse, children, and parents) to reside in Greece without any minimum stay requirement.
Program overview
- Investment threshold: €250,000 – €800,000, depending on the region and property type.
- Eligible properties: The minimum amount applies to non‑residential properties that are being converted to residential use; higher thresholds apply to residential or luxury projects.
- Family inclusion: The main applicant can include spouses, dependent children, and parents in the same application.
- Application submission: Can be filed remotely; applicants must travel to Greece once to provide biometric data for the residence‑card.
- Permit duration: Initially issued for five years, renewable provided the investment remains in place.
Main benefits
- Visa‑free travel throughout the Schengen Area.
- Access to the European banking system and the ability to receive rental income in euros.
- No mandatory physical residency or minimum stay requirements after the biometric appointment.
Eligibility and property selection
- The investment must be a single real‑estate purchase meeting the minimum amount for the chosen municipality.
- Projects must have the necessary documentation for the residence‑permit application; developers are required to provide proof of ownership and construction permits.
- Funds can be transferred directly to the developer; the program does not require verification of the source of funds.
Application process (simplified)
- Choose a qualifying property and sign a purchase agreement.
- Transfer the investment amount to the developer’s account.
- Submit the residence‑permit application remotely, including proof of investment, personal documents, and health‑insurance coverage.
- Travel to Greece for biometric collection (fingerprints and photograph).
- Receive the residence‑card and, if desired, a Greek tax identification number and local bank account.
Tax obligations for property owners
- Annual filing deadline: 15 July each year. All property owners, even those with properties under construction or without rental income, must file a Greek tax return.
- Property tax (ENFIA): An annual levy based on the property’s area, location, and assessed value; amounts range from a few hundred to several thousand euros.
- Income tax: Applies to rental income or other earnings derived from the property.
- Late filing or payment can adversely affect renewal of the residence permit.
Practical considerations
- Engage a qualified accountant familiar with Greek tax law to determine ENFIA and income‑tax liabilities.
- Ensure the selected municipality is not congested with applications, as processing times can vary.
- Maintain continuous ownership of the qualifying property to preserve eligibility for permit renewal.
Source article: apexcapital.one
