Greece Permanent Residency by Investment

Greece Permanent Residency by Investment

Greece is a strategically located country at the crossroads of Europe, Asia and Africa. It is known for its charm and beauty and is considered the cradle of Western civilization. Greece is the birthplace of democracy, Western philosophy, the Olympic Games, major scientific and mathematical principles, and Western drama including both tragedy and comedy. 18 UNESCO World Heritage Sites also reflect Greece’s rich legacy. Greece offers a good quality of life to its residents.
 
Taxes in Greece are burdensome compared to other tax regimes. A residence permit in Greece allows for visa-free travel to all countries of the Schengen area.
 
Under the application process, an applicant must first apply for a national “D” visa for permission to enter Greece, in order to then apply for a residence permit and buy a property. This visa is issued at a Greek consulate or embassy in the applicant’s home country. It usually takes five to ten days and then requested to appear for interview.
 
Upon granting of the national “D” visa, the applicant must purchase a property/properties of a total value of at least €250.000 plus VAT, and start the permanent residency procedure within 90 days from first entry into Greece. In contrast to other global residence programmes, it takes a long time to gain residence in Greece. Due diligence processes are less strict than other countries.
 
The purchase of a single or multiple properties to a value of at least €250.000 value plus VAT is reasonable when compared with other investment programs. A residence permit is renewed every five years under the condition that the applicant continues to be the owner of that particular property or any other properties of the same value. 

Greece Permanent Residency by Investment features  
Visa Type Residence permit
Time Frame 6-12 months
Requirements Real estate of €250.000 for a residential property, or equivalent investment in either a timesharing agreement with a duration of at least 10 years or lease of at least 10 years of hotel facilities or furnished homes in combined tourist facilities, no criminal record, medical certificates, travel insurance
Minimum Investment €250.000
Taxation Personal Income Tax rate 42%; Corporate Tax rate 29%
Years to qualify for Citizenship 7 years
Language for Citizenship Yes
Permanent Residence Yes
Other requirements No pending decision for deportation
Dual Citizenship Yes

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