Family – Every investor is entitled to include their spouse, underaged children and adult children up to 21 if studying and dependent. Since 2014 program was extended and allows including parents regardless their age of both investor and spouse.

Living, Working, Studying and Traveling – After resident status is obtained investors and their families are free to live and study in Greece. Setting up business is allowed, yet labour market is not accessible for neither main investor nor family members. Resident status grants visa-free movement within Schengen area for up to 3 months in half a year.

If citizenship is successfully received applicants can live, work and study in EU and Schengen countries. Moreover visa-free or visa on arrival destinations expands to more than 170 countries including USA, Commonwealth countries, Hong Kong and etc.

Real estate – Minimum investment level of 250 000 EUR is required to purchase real estate or enter 10-year accomodation lease contract. Besides the principal investment government applies € 500 residency application fee per person.

Investors, buying real estate should as well on average fund 15 000 EUR to cover investment and governmental fees.

*Property must be maintained until citizenship is obtained. Lease contract period is 10-years.

Taxes – Despite the value added tax on purchased real estate, Greek government applies income (derived within country) taxes on non-residents starting from 22%. Investors willing to rent their properties pay taxes on property income in range of 11 – 33%, deducted incurred expenses  from gross income. Capital gains tax (in case of real estate sale) has 15% rate.

Step 1 (3 – 5 days)

Pre-due diligence allows avoiding possible issues and assure eligibility. It also allows ineligible applicants saving unnecessary costs, time and effort.

Step 1 requires:

• Contract form (fill and sign)
• Passport copies (including dependants)
• Residential address
• Full information about dependants
• Full details on profession or business
• Origin of finances
• Banking details (name, address, SWIFT/BIC code, IBAN No, account number

In cases of questionable pre-due diligence outcomes, enhanced background checks may be required, including possible cooperation with the relevant authorities.

Step 2 (1 month)

Collection and preparation of documentation usually takes approximately 1 month to prepare all documents which must be translated to English or Greece and certified if applicable. At this step is also recommended to visit Greece and meet our lawyers, open bank account, view properties and authorize legal representative with local notarization to apply for residency permit on behalf of applicant.

Step 2 requires:

• 2 copies of application document
• Proof of residency application payment
• Property lease or purchase contract and payment transfer proof
• 2 recent colour photo
• Certified copy of passport
• Health insurance to cover any period of residence in Greece (all applicants)

Step 3 (1 – 2 days)

After committing investment and collection of required documents application is submitted in the Alien and Immigration department in person or by legal representative. Application in person allows providing biometric data in advance so it will entitle us collecting residency cards once approval is issued (see step 5).

Step 4 (2 – 3 months)

Once documents are submitted, application processing takes up to 2 months. On average decision to approve, deny or request additional documents takes 40 days.

Step 5 (3 months)

Approval from immigration office. In case biometric data is provided during application process, ready-made cards might be collected by authorized legal representative and sent by courier. Collection in person is available as well.