GREECE
GREECE
GDP
POPULATION: 10.72 Million
Population Growth: -1.01%
$17,654 (2021 est.)
GDP (per capita)
GDP (purchasing power parity)
$189,259 million,(2020est.)
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VISA FREE COUNTRIES: 184
LOCATION
Greece is a country in southeastern Europe with thousands of islands throughout the Aegean and Ionian seas.
CAPITAL
Athens
TIME DIFFERENCE
(GMT+3)
TOTAL AREA
131,957 km²
AGE DEMOGRAPHICS
0-14: 24.5%, 15-24: 16.5%,
25-54: 40.3%, 55-64: 9.2%,
65+: 9.2%
LANGUAGES SPOKEN
Greek (official), Macedonia,
Turkish, Albania
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RELIGIONS WORSHIPPED
Orthodox Christianity (90%)
Other Christians (3%)
Unaffiliated (4%)
Islam (2%)
GOVERNMENT TYPE
Parliamentary Republic
CURRENCY
EURO
EXCHANGE RATE
1 USD = EUR 0.84
Greece
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Greece’s Golden Visa Program, launched in 2013, is one of the popular residency-by-investment programs among investors seeking for new financial opportunities. The Greek government aims at leveraging its residency programs to create a positive impact on national development and economy.
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Over 20 thousands of residence permits have already been granted to investors and real estate owners along with their families in the first half of 2020. Under the program, investments can be made through a number of channels to qualify residency, ranging from real estate to capital investments.
Why Greece?
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“Greece – The feeling of being lost in time and geography with months and years hazily sparkling ahead in a prospect of unconjecturable magic.”
Greece, a country of rich history and tradition, has always been an ideal place of residence for those craving for the unique culture and civilization. With its ancient ruins, white churches with blue domes and Mediterranean breezes, there is no wonder why the number of immigrants to this beautiful island has been on a rise.​​
Benefits
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Visa-free travel
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No residency requirement
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Fast Application Processing
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Permit renewable every 5 years
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Eligible for family
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Citizenship after 7 years
Eligibility
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Over 18 years old
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No criminal record
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Presence of a health insurance
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An entry visa to Greece
Minimum Investment Requirements
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Greece’s Golden Visa Program provides numerous investment options for potential investors from foreign countries. The following is an overview of the possible investment pathways that can be taken.
Real Estate Property Acquisition
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A permanent residence permit will be granted to real estate owners, subject to the fulfillment of any of the following:
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An ownership of a real estate property in Greece, either directly or indirectly, with a minimum value of €250,000
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An entry of a 10-year lease agreement with a minimum cost of €250,000 for hotel accommodations or furnished tourist residences in integrated tourist resorts
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An entry of a 10-year timeshare agreement with a minimum cost of €250,000 for hotel units and authorized tourist facilities
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A purchase of a plot of land or acreage valued at a minimum of €250,000 for construction of a building
Investment Activities
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Implementation of an investment project will also entitle investors to apply for residence permits. There are generally no restrictions regarding the sector of activity or location of the investment project, as long as it creates positive impacts on national development and the economy.
No limits has been set as to the total cost of the investment project. However, an amount of at least €250,000 shall be generated from the investor’s own funds. The total number of residence permits allowed for an investment project is capped at 10.
Capital Contribution
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Investors may also acquire a residence permit following a minimum investment of €400,000 to:
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a company headquartered or established in Greece (except for Holding Companies and Real Estate Investment Companies) for the acquisition of stock in a capital stock increase or bonds upon the issuance of a bond loan, which are listed for trading in Greece
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a Real Estate Investment Company whose object is to invest exclusively in Greece, for the acquisition of stock in a capital stock increase
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a Venture Capital Company for the acquisition of stock or Venture Capital Fund for the acquisition of shares provided that the object of the said Alternative Investment Funds is to invest exclusively in companies headquartered or established in Greece
Shares, Bonds, Treasury bonds
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Further, investors can opt for investments in securities, including an investment of at least €400,000 in:
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Greek Treasury bonds with a residual duration of at least 3 years
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a mutual fund established in Greece or another country whose intention is to invest exclusively in stock, corporate bonds, and/or Greek Treasury bonds that are admitted for trading in Greece
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an Alternative Investment Fund established in Greece or another country of the EU whose intention is to invest exclusively in real estate in Greece
Alternatively, invest at least €800,000 in:
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stock, corporate bonds, or
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Greek Treasury bonds admitted for trading in Greece
Bank Deposit
The final channel in which an investor can resort to in obtaining residency will be to deposit a minimum of €400,000 to a domestic credit institution for at least 1 year.
Validity
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The residence permit granted will last for 5 years. It can be renewed every 5 years, provided that the holding of the specified investment is certified, and the other requirements for granting the permit are met.
Family Members
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In addition, investors can be accompanied by family members, such as spouse, unmarried children up to the age of 21 and first degree ascendants of the spouses. All of them will have the right to enter and obtain residence permits along with the investor. Family members are then granted a residence permit of the same duration as the applicant.
Brief Procedures
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Issue an entry visa for Greece
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Prepare the required documents for the application of the residence permit
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Submit an application to the Department for Migration Policy at the Ministry of Migration and Asylum
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Receive decision as to whether a residence permit will be granted
Time Frame
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The time required to process the application depends on the authority where it has been submitted but will not exceed 2 months upon receival of all necessary documents.