Greece offers 10 year golden visa for strategic investment

Greece offers a ten year Golden visa residence permit for strategic investment in Greece for up to ten investors starting from €250,000.  The permits issued is same as €250,000 property investment are issued for five years maximum in Greece but the difference is ten years. While most are aware of only property investment, investment activity also qualifies for residence permit under golden visa scheme.

Greece, a full EU Member State with over 300 days of sunshine per year, for relocation, such as quality of life, regulated environment, secure living conditions, access to efficient services, residence privileges for family members, freedom to travel .

• EU member country: since 1 January 1981
• Currency: euro.
• Euro area member since 1 January 2001
• Schengen: Schengen area member since 1 January 2000

Holders of a Greek residence permit are able to travel to other Member States for up to three months within a six-month period according to Schengen Borders Code.

Strategic Investment

Non-EU/EEA nationals have the right to receive permanent residence permit for investment activity in Greece

There are no restrictions regarding the sector of activity or the location of the investment project.

Investor applying for a residence permit under this program should contribute to the investment with an amount of at least €250,000, available through own funds. The investment must have positive impact on national development and the Greek economy.

Joint Investors

The total number of residence permits allowed for an investment project cannot exceed 10 (for investors and executives).

Each investor who participates in the financing of the project with an amount of his own funds of at least €250,000 is entitled to a residence permit. So if the investors participate equally with the above amount (i.e. each one by €2,000,000/8 = €250,000), all of them are entitled to a residence permit (provided that the total number of permits for investors and executives does not exceed 10).

However, if one investor participates more than the others, investors participating with own funds of less than €250,000 cannot be granted a residence permit under this program. According to legislation, for investments (investors’ contribution) from €1,000,001-€3,000,000, 2 residence permits may be issued for executives (provided that the total number of permits for investors and executives does not exceed 10). Therefore, even if residence permits are granted to all eight investors, residence permits can also be issued to 2 executives since the total number (8+2) does not exceed 10.

Greek Citizenship

According to the decision of the Minister of Interior no. 130181/6353/27.3.2018, published in the Government Gazette 1208/Β/2.4.2018, the residence permits of Real Estate Owners and Investors have been added to the categories of residence permits that are eligible for the submission of an application for the acquisition of Greek citizenship. In this case, the applicants must fulfill all the preconditions of the Greek Citizenship Code applied for the acquisition of Greek citizenship by naturalization. The above ministerial decision applies only to investors themselves, and not to company executives and family members, who must first obtain the long-term residence status, which is a prerequisite for naturalization.