Golden Visa Benefits: A Global Residence Index Guide to Greek Residency

Imagine owning a piece of paradise in Greece while gaining the privilege to explore Europe with ease. That’s the enchantment of the Golden Visa program in Greece. 

In this article, we’ll take you through different aspects of the Golden Visa Benefits to Greek Residency program, with insights from the Global Residence Index. 

The Golden Visa Program

The investment migration experts of the Golden Residency Index program are a gateway to residency for non-European Union citizens such as St. Lucia, Dominica, Vanuatu, St. Kitts & Nevis, Antigua & Barbuda, and Grenada.

The Golden Visa program provides a clear and direct route to acquiring Greek residency through investments in real estate. To attain Greek residency, fulfilling the minimum property investment criteria is essential. Upon making this investment, many advantages become accessible to you and your family.

The Global Residence Index: Your Trusty Advisor

The Global Residence Index is valuable for assessing international residency and citizenship-by-investment programs, analyzing application simplicity, investment prerequisites, and overall benefits. It aids potential investors in making informed and sensible decisions.

Unveiling the Benefits

Besides enjoying tourist hot spots with fresh seafood, stunning beaches, picturesque towns, and their historical significance, there are numerous unveiling benefits of the Greek golden visa residency program. 

Let’s dive into the perks of becoming a Greek resident through the Golden Visa program with insights from the Global Residence Index:

1. Travel Freedom 

Greek residency offers access to visa-free or visa-on-arrival travel within the European Union. You can now explore Europe without the fuss of visa applications.

2. Top-Notch Healthcare 

Obtaining Greek residency gives families access to the country’s outstanding educational institutions. The inner peace it brings is invaluable because of its top-notch healthcare system.

3. Education Excellence 

For families, Greek residency opens doors to the country’s excellent educational institutions. Your children can immerse themselves in Greek culture and excellent education.

4. Investment Opportunity 

Greece’s real estate market offers diverse opportunities. From blissful islands to bustling urban properties, investors have a lot of possibilities. Real estate represents more than just obtaining residency. It holds the potential for substantial financial gains.

5. Mediterranean Lifestyle 

Greece offers a Mediterranean lifestyle that’s hard to beat. Think laid-back living, delectable cuisine, and a pleasant climate while being part of the European Union.

6. Family-Friendly 

The Golden Visa program welcomes your family with open arms. You may include your spouse, children, and parents who can join you in your Greek residency journey, creating a secure and inclusive environment.

7. Tax Perks 

Greece offers a variety of tax policies. Obtaining Greek residency has the potential to provide opportunities for tax optimization. For tailored tax guidance, seeking counsel from a qualified tax professional is advisable.

8. Investment Flexibility 

The Golden Visa program bears flexibility in property investment. The various property types, from residential to commercial, are available for selection.

Travel Privileges of Greek Golden Visa Holders

One of the standout perks of obtaining Greek residency through the Golden Visa program is the grant to travel freely within the European Union. Apart from easy travel, the other benefits include:

• The Greek Golden Visa is the least expensive of the other EU  member states. 
• If they depend on the applicant, it may include family members such as spouses, children, parents, or the spouse’s parents.
• You can enjoy visa-free access to the entire Schengen Area 90/180-day rule.
• Remember, you must renew for every 5 years for the Greek Golden Visa.

New Rules for Greece Golden Visa

The Greek Golden Visa program has seen some changes recently. These new rules include:

Total Cost of Greece Golden Visa

The total cost of obtaining a Greek Golden Visa can differ for individuals. This is due to the factors, including the type of property you invest in and associated fees. Generally, you’ll need to consider the following costs:

1. Property Investment 

The primary investment, which must meet the minimum threshold, is the cost of the property or properties you purchase.

2. Legal and Administrative Fees 

The Greece golden visa costs include legal fees, application fees, and other administrative expenses associated with the visa acquisition process.

3. Property Transfer Tax 

On attaining Greece’s Golden visa, it imposes a property transfer tax, a percentage of the property’s value.

4. Value Added Tax (VAT) 

The additional cost will apply if your property purchase is subject to the value-added tax.

5. Real Estate Agent Fees 

If you use a real estate agent, you may incur agent fees, typically paid by the seller. Therefore, the Greece Golden visa covers real estate agent fees.

6. Notary and Registration Fees 

The notary and registration fees have a role in the legal transfer of property ownership as a crucial part of the Greece Golden visa.

7. Property Maintenance and Insurance 

Ongoing costs for property maintenance and insurance should also be considered.

However, you should consult with legal and financial professionals as it will help you to calculate the total cost based on your preferences.

Working in Greece with a Golden Visa

The Greek Golden Visa program primarily focuses on residency through property investment. While it doesn’t grant automatic work rights, as a resident yet, you may explore work opportunities in Greece. It is necessary to understand the visa requirements and the criteria for obtaining a work permit regardless if you intend to seek employment in Greece.

Eligible Properties for Golden Visa in Greece

The Golden Visa program in Greece offers flexibility in the types of properties that qualify for investment. Eligible property types typically include:

• Residential Properties: These can range from apartments to houses.
• Commercial Properties: They are such as offices, shops, and warehouses.
• Land: Land purchases with a minimum value can also qualify.

When contemplating property investments, verifying the current eligibility criteria and investment thresholds with Greek authorities is essential.

Bank Balance Requirement for Greece Visa

The Golden Visa program in Greece primarily focuses on property investments rather than imposing a specific bank balance requirement. However, it is essential to have sufficient financial resources to cover the costs related to the property, related fees, and ongoing financial obligations.

In Conclusion

The Golden Visa program in Greece, complemented by insights from the Global Residence Index, presents thrilling prospects for individuals searching for a change of environment and fresh opportunities. Greek residency offers much, from seamless travel across Europe to intelligent real estate investments and a Mediterranean lifestyle. 

Suppose you are thinking of participating in the Golden Visa program. In that case, it’s essential to conduct comprehensive research and seek advice from legal and financial experts to maximize the potential of this exciting opportunity.

Greece is waiting to welcome you with its rich history, stunning landscapes, and warm Mediterranean embrace – all as a Greek resident.