GOLDEN VISA
GREEK PROPERTY OWNERSHIP BY NON EU NATIONALS OFFERS SCHENGEN VISA
- Buying one or more properties with a minimum total value of 250.000 Euros.
- 5 Years Residence Permit in Greece and Schengen Area countries ( Schengen Area consists of 22 European Union member states and four European Trade Association member states).
- Renewal every 5 years for the same period under the circumstance that the ownership status remains unchanged.
- Legal right to rent the property.
- Free Entry and Exit in Schengen Area which includes : Greece, Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland.
- No required minimum or maximum period of staying in Greece or number of revisits.
- Joint ownership is allowed, if each of the co-owners invests at least 250.000 Euro.
- No knowledge of Greek Language is required as most of the people speak English. ( English language is mandatory taught at Greek schools, starting from elementary school).
- Freehold ownership; No time limit to the period of ownership.
- Fast Track Procedures; only 2-3 months estimate time for the initial grant of residence permit.
* Foreigners who buy properties for visa immigration in non Schengen countries like Cyprus, UK, Ireland need additional permissions to travel in Schengen Area.
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COMPARISON OF REAL ESTATE INVESTMENT IMMIGRATION PROGRAMS OF SOUTHERN MEDITTERANEAN COUNTRIES: GREECE, CYPRUS, SPAIN, PORTUGAL
GREECE | CYPRUS | SPAIN | PORTUGAL | |
Schengen Country | Yes | No | Yes | Yes |
Free travel to Shengen Area | Yes | No | Yes | Yes |
Minimum Investment (in Euro) | 250,000 | 300,000 | 500,000 | 500,000 |
Compulsory period of staying | No | Yes | Yes | Yes |
Minimum period of staying | No | No | 183 days 1st year | 7 days 1st year/ 14 days the following 2 years |
Number of Revisits | None | Once every 2 years | - | Once 1st year/ once |
Additional Notes:
Renewal period of the Residence in Greece is every five years.
The issuance of the Title Deed in Greece will take 4 to 6 days while in Cyprus can take months.
In Greece there is no minimum bank deposit to open a bank account while in Cyprus it is required to deposit 30.000 euros at least.