Investing in real estate in Greece guarantees foreigner property owners access to the country’s Golden Visa program. A major selling point is that this also means that the foreign investor is exempt from the country’s normal visa requirements

This visa allows the holder residency in Greece for five years with the option to renew or extend their residency. Considered another major advantage by foreigners who already have this visa is the fact that the visa holder has very few obligations and restrictions related to their visa. Besides not having to meet all the regular visa requirements Golden visa holders also need not spend a minimum number of days a year in Greece and their visa is extended to their children up to the age of 21.

An added bonus is that this visa, under certain conditions, could lead to citizenship.

Key Facts:

• Investors qualify for this visa when they purchase property with a value of €250,000 and more
• The investor and their family (including children up to 21 years old) are entitled to Greek residency
• The visa holder need not reside in the country for a minimum number of days a year
• Having residency in Greece means the visa holder will be able to travel easily across
•  All Greek citizens qualify for residency and it is no different for Golden Visa holders
• The Greek residency program is relatively fast, taking around 40 days until a residency card is issued.
• Investors in real estate in Greece must also budget for the additional taxes on real estate at 24%

However at €250,000 + taxes and fees (just over €300,000 in total) this program still offers the most cost effective way of obtaining European residency.