The Golden Visa is a five-year residence permit offered to third country nationals who invest in Real Estate in Greece, or in Greek Businesses / Startups .

The Golden Visa Law is a flexible and affordable Program for Investors and their Families who seek to obtain residency through investment and secure a second passport.

Many countries offer Residency by Investment programs (Golden Visas) to encourage foreign investment. In exchage, these programms grant residency rights, with many benefits and minimal stay requirements.

In Greece there is no mandatory stay requirement, meaning Golden Visa holders are not obligated to reside in or visit Greece in order to maintain their residency status. However, they must return every five years to update their biometric data.

In order to obtain the license of Golden Visa in Greece, investors have these options:

> Buy Real Estate worth at least €400,000 or €800,000 depending on the area, or €250,000 in certain cases, / or

> Invest 3 million euros plus, in infrastructure projects/ Greek businesses, creating at least 150 job positions, / or

> Invest in Greek Startups an ammount of at least 250,000 euros.

The residence permit is granted for life, with renewals every five years. There is no limit to the number of times the permit can be renewed, as long as the applicant continues to fully own and hold the required minimum investment (in real estate or financial assets).

The Greek Government has announced that it is moving forward with significant amendments to the MINIMAL AMMOUNTS of INVESTMENT for the Greek Golden Visa program, after a 10 - year period of successful Golden Visa applications

The New Minimal Ammounts that Golden Visa Legislation Amendment has set, have been increased as following:

The minimum investment amount for applicants has been raised to 800,000 euros for main regions: 

> for the whole region of Attica (Athens), Thessaloniki & Central Macedonia region, Mykonos, Santorini, south Aegean region, all islands of over 3.100 inhabitants (Crete, Euvoia, Rhodes, Corfu, Lesbos, Chios, Zakynthos, Salamina, Kos, Kefalonia, Samos, Lefkada, Syros, Naxos, Kalymnos, Lemos, Paros, Thassos, Aegina, Tinos, Ikaria, Andros, Leros, Karpathos, Skiathos, Milos, Skopelos, Spetses, Kythera, Patmos, Poros, Alonissos).

The minimum investment amount for applicants has been raised to 400,000 euros for:

> the rest country not mentioned in 800,000 euros Investment Zone, such as small Islands less than 3.100 citizens or other places in the countryside. 

The minimum investment amount for applicants stays at 250,000 euros for a Special Investment Category, including all locations or sizes of property: 

> Industrial and Commercial assets which are converted to Residential Use. 

[The basic terms in this case are that]:

-The investment must be on a single property.
-The conversion from Commercial to Residential use must be completed before the Golden Visa application.
-The property must not have been operated as an industrial building in the last five (5) years.

> Restoration of listed buildings (buildings with historic interest under special protection)

Inludes a single property (building) that will be fully restored/ reconstructed by the Investor. The full restoration is a prerequisite for the first renewal of the golden visa after five (5) years.

There are rules and certain restrictions regarding the acquisition of a property as an investments in Greece, such as:

> The property purchased must be used as the investor's personal residence.

> Only long term tenancy agreements are allowed.

> Short term rentals are not allowed (such as AirBnb).

> The property cannot be used as company's headquarters/ branch. 

> If an applicant has acquired the property through a legal entity, he must own 100% of the company shares. 

> In case of joint ownership, the residence permit is only granted if the owners are spouses with undivided ownership of the property.

> The investment must be on a singe property and with minimum square meters 120m² (except for €250,000 Investment Zone)

> An applicant must buy only one property that covers the entire amount required (eg €800,000). He cannot buy many properties adding the total value for the required sum (eg €800,000).

How long does the Golden Visa residence permit in Greece last?

> The duration of the Golden Visa is five years, with renewals (every five years).

Can family members apply for a residence permit?

> Yes, family members of a Golden Visa holder can also apply for a Golden Visa for themselves. Includes spouses, children, parents.

Does the Golden Visa provide the right to work in Greece?

> No, this permit does not allow work in Greece.

What are the basic benefits of the Golden Visa to its holder?

> The Golden Visa in Greece provides the right of permanent residence and free movement in the countries of the Schengen zone, access to the education system and healthcare.

How long does it take to issue a Golden Visa in Greece?

> Usually, the Golden Visa is issued within two-three months of submitting the application.

Can I travel to Greece until my Golden Visa is issued?

> Yes you can travel to and from Greece, with a certificate of submission of the application.

How long does the certificate of submission lasts?

> The duration of the certificate is one year.

Can I Apply For A Citizenship In Greece?

> Permanent residents can apply for  Greek citizenship after living in Greece for 7 years.

Can my children apply For A Citizenship In Greece?

> They can apply if they attend any school in Greece for 9 years, or if they attend a secondary school in Greece for 6 years, or if they attend a University in Greece.

What is the disadvantage of a Greece Golden Visa?

> There are not serious disadvantages since Greece has a stable investment and politically environment, with low risk. The only problem is big taxation for people who work or own a small company.

What are the advantages of a European Citizen?

An European Citizen is free to live, work, travel, receive healthcare or pursue education anywhere within the EU.

Required documents for a Golden Visa in Greece

Our company Blackbird Group will assist you with every step of the Golden Visa acquisition process, through our team [Consultants, Accountants, Brokers, Translators and independent Lawyers].

The Golden Visa issuance process includes certain supporting documents and requires several steps:

• Issue Entry Visa and Visit Greece To Find The Right Property
• Purchase Property and Signing The Sales Agreement (and any power of attorney documents if needed)
• Filing Documents For A Greece Golden Visa

Below we have prepared a basic guide with all the information and the supporting documents you should know. We are at your disposal, if you need to further analyze.

> Required documents for the issuance for the Beneficiary

• Four passport photos and a CD with the photos in digital format.
• Copy of passport or other document certifying legal entry into the country.
• Private life insurance, preferably from a Greek insurance company, with full hospital coverage.
• Copy of the property purchase deed worth at least 250,000 / 400,000 / 500,000 / 800,000 euros depending on the region.
• Notarial deed certifying compliance with the law's specifications for the property.
• Certificate of transfer of the property to the Mortgage Registry.

> Required documents for the issuance for Family Members

• Four passport photos.
• Copy of passport with entry visa to Greece.
• Birth certificate (where required).
• Private life insurance as for the beneficiary.
• Certificate of marital status from a competent authority, authenticated with an "Apostille" stamp or translated and authenticated by a Greek consulate or the Ministry of Foreign Affairs of Greece.

> Required documents for the issuance for a Bank Account in Greece

In order to complete the process of issuing a Golden Visa in Greece, you will need a bank account in a Greek bank.

• Valid passport considered for entry into the country as well as a copy thereof.
• Documents confirming the legitimacy of the buyer's income. This includes tax return, certificates of income from inheritance, dividends, income from rental or sale of property, etc. The translation of the documents into Greek or English is mandatory.
• Translated Utilities' bill showing your residential address.
• Translated document with information about the place of work or pension certificate.
• Mobile number certification document from the respective company.
• Statement of the applicant's account from the sending foreign bank.

In order to open an account in a Greek bank, physical presence is mandatory, or by representative.

Our Company BlackBird Group can help you at all steps of the procedures.

> You can proceed without your physical presence in Greece: By signing a Power of Attorney (P.O.A) in your country of origin at the Greek Consulate, or at any foreign notary public (provided that the Power of Attorney is certified with the Apostille Stamp or legalized by the Greek Consulate).

If have any questions please do not hesitate to contact us.

> 0030 210 802 8330 [Athens] 

> 0030 2810 823 002 [Crete]

> 00306974828995 [mobile / whatsApp / viber]

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