If you have ever been to Greece, you will never forget the colorfulness of this country. Cultural values, clean ecology, and many places to relax guarantee complete relaxation. All this attracts foreigners like a magnet. The country is the 4th most visited after France. Wherever you go, you will enjoy the delightful sandy shores of one of the eight seas surrounding the pearl country. Mediterranean cuisine, the purest air, and the absence of industrial factories contribute to people's longevity.
You will need to obtain a permit document if you want to spend unlimited time on the islands and later submit a request for a residence permit. It will take only a couple of months to wait for the result of the consideration, and then you can enjoy the sea coast, delicious cuisine, and hospitality of the locals for five years. It will be the beginning of the way to obtain citizenship and have legal grounds to work, recover, and study on the territory of the land.
Overview of Greek Residency Programs
The main requirements and conditions are specified in the ministerial law "Code on Immigration and Social Integration" of 2014. Amendments to this normative document legalize the current changes and innovations. The availability of the Greece Golden Visa for investors will help quickly obtain the status. Through the scheme, participants can get a temporary five-year status and, after the expiration of this period - a permanent one.
Investment Paths to Greek Residency
The main conditions that are important to fulfill to apply for Greece residency by investment are:
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being a citizen of a non-EU country;
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have health insurance;
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submit a package of documents with an application form to the embassy;
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invest in a particular sector of the economy (for guaranteed approval).
According to Vladlena Baranova, a specialist of Immigrant Invest, the waiting time is usually ten days, and a visa for 365 days is issued. After that, you can request a residence permit, which has a five-year validity of 5 years, and get citizenship if you wish. The Greek passport takes the honorable 7th place in the global ranking of passports.
Key Benefits of Greek Residency
Greek laws promise to get a passport after 7 years of residency. One of the other advantages of modern Hellas is the permission to include not only a spouse and children but also the applicant's parents in the application.
The main benefits:
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visa-free travel within Schengen and the EU;
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it is not one of the requirements to stay permanently in the island republic;
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you rarely have to go through the permit process, compared to other programs;
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mild tax system;
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renting out purchased real estate;
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and numerous other pros.
The mild climate and picturesque shores beckon tourists and bi-patriots to learn more about Greek culture. The pass is one of the most inexpensive compared to England and the USA. The applicant can get it even when applying online. This innovation was introduced during the quarantine period and is still in effect today.
Path to Greek Dual Citizenship
Long-term residence in the country guarantees the issuance of a passport. What should you do to start the path to dual citizenship in Greece? The minimum investment in real estate is about 250 thousand euros. A higher threshold applies to investments in Athens, Thessaloniki, Mykonos, and Santorini municipalities.
At the same time, you can start your journey with family reunification if one of your relatives is Greek or if you marry/remarry a country resident. This way, there will be no need for finances. But in these cases, there are nuances regarding the length of processing and naturalization and emphasis on a detailed study of your identity.
Tips for a Futured Investors
In addition to the standard set of documents, the applicant should submit a letter from the competent service of the Ministry of Development with the current offer.
Ways of investment required when using the Greece Golden Visa program are the following:
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capital contribution for 250 000 EUR to a local company, which is confirmed by a share certificate;
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purchase of government bonds for 400 thousand EUR with a validity period of at least 3 years;
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term deposit in a local credit institution of 400 000 EUR or more;
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purchase of shares or corporate bonds that are offered for sale on regulated markets in the state in the amount of 800 000 EUR;
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purchase of units in a local fund with a total value of 400 000 EUR or more;
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real estate in the amount of 250,000 EUR or higher.
The fact of making capital investments and their amount is fixed in certificates of the relevant financial institutions through which injections into the state economy are made. These organizations provide a letter of recommendation to the Ministry of Immigration Policy confirming the need to issue a second passport for greek investment residency
