Greece Welcomes Investors For Golden Visa And Other Residency Programmes

The Greek Golden Visa Programme is the most successful, competitive, and affordable programme in Europe, with the lowest investment threshold of €250,000 for real estate investment, or €500,000 for fixed term deposit or purchase of Government Bonds, or €350,000 for purchasing shares in mutual funds (AIFS).

Key advantages include:
• Lowest entry cost amongst the other alternative EU programmes.
• The investment amount was raised to €800,000 (only for one property minimum 120 sq m) since September 2024 for Central, North, and South Athens, Thessaloniki, Mykonos and Santorini, and €400,000 (only for one property minimum 120 sq m) for the rest of Greece.
• For the Real Estate option, the main applicant may purchase one property for the investment amount of €250,000, in any part of Greece as long as it is a commercial or industrial property converted into residential. The same threshold applies to classified/national heritage buildings that are being restored.
• Plots of Land are eligible.
• Initial procedure to be done remotely by Power of Attorney.
• Only one visit is required for the biometrics of the residence permit.
• Permanent residency is granted in just two months for three generations (main applicant and spouse, children up to 21 years, and parents of main applicant and spouse).
• Minors can be main applicants.
• Property can be rented out. Only long term rental is permitted as of September 2024. Airbnb style short-term rentals are not permitted for new Golden Visa owners.
• Rental income is taxed locally.
• Golden Visa holders are considered Non-Greek Tax Residents unless they exceed 183 days per year in Greece.
• Fixed term deposit of €500,000 is easier and provides an easy way out and a capital guarantee. Can be easily converted to a property Golden Visa.
• No minimum residency/visit is requirement for renewal.
• Visa free travel to 27 EU countries.
• Eligibility for Greek Citizenship Application after seven years of residence.
• Main applicant can be the CEO of his company.

It is wise to directly employ a local lawyer for the due diligence of property purchase(s) and the opening of accounts, avoiding the all-inclusive offers of various promoters or agents. Currently, the real estate market is at the correct price entry level.

Financially Independent Persons (FIP) Visa

Those who can show a minimum monthly income of €2,000 are eligible for a two-year Residence Permit – the amount increases if family members are to be included in the application. There is a 180-day minimum stay requirement per calendar year. This programme is suitable for families who want their children to attend Greek or international schools.

The Non-Dom Tax Regime

This regime provides the exhaustion of tax liability for any foreign-sourced income by paying an annual flat tax of €100,000, plus €20,000 for every accompanying dependant, regardless of the amount of income earned abroad, with no obligation to declare any foreign income in Greece, and an exemption from any inheritance or donation tax for any property abroad. The Non-Dom tax regime benefits from the vast number of Double Taxation Agreements of Greece.

Family Offices

The Greek parliament approved a new law that sets the legal framework to secure transparency and provides incentives for Family offices to be set up in Greece. The government recently introduced a special visa for ‘digital nomads’, which would permit internationals engaged in remote jobs to work from Greece.

All the above procedures can be carried out remotely and only one visit to Greece is necessary for the biometrics.