If you have been thinking about immigrating, you must have heard the name of Golden Visa in Greece. Greece is currently one of the countries for which many Iranians apply for study, work and investment visas. One of the types of visas and residence requests through it for Greece is the Greek Golden Visa, which we will explain in the following article about this visa and the methods and conditions for obtaining it. So, if for any reason your country of choice for immigration is Greece, we recommend you to read this article.

Methods of obtaining a golden visa

The Golden Residence in Greece is a good opportunity to receive significant benefits of residence in Greece by investing in this country. The people who receive the golden visa of Greece have obtained the residence of their spouse and children and can immigrate to this country with their family and if they wish, they can apply for Greek citizenship after five years.

Applicants with a minimum amount of investment can receive a Greek Golden Visa. The main way to get this visa is to invest in this country, especially in real estate. In order to receive a Greek Golden Visa, you must make one of the following investments in this country:

Buy a property in Greece with a minimum value of 250,000 euros. ( In selective areas until 31 august 2024  )
Rent a property for 10 years.
Make a minimum investment of 400,000 euros in a company registered in Greece.
Invest 400,000 euros in Greek government bonds.
Invest €400,000 in bonds or shares of companies in Greece.
Deposit 400,000 euros in a Greek bank.
Invest 800,000 euros in corporate or government bonds.

Conditions for obtaining a Greek Golden Visa

In order to receive a Greek Golden Visa as an investor, you must meet a number of conditions listed below:

• Be of legal age of 18 years.
• Do not have a criminal record in the country of origin or in Greece.
• He has health insurance from a company operating in Greece.
• After the approval of these general conditions by the Greek Embassy, you must complete the required documents and apply for the Greek National Visa. Your documents include the following:
• Complete the application form
• personal photo
• Passport
• Payment of government fees
• Proof of having a health insurance
• Proof of financial ability

After completing these documents, you should take them to the embassy and apply for a Greek national visa through the embassy. Of course, before obtaining this visa, you can enter Greece with a tourist visa and finalize your investment.

Further, after confirming your investment, it will take approximately 40 to 60 days for a golden visa to be issued to you. Finally, you will be issued a 5-year residence permit in Greece, and after 5 years, you can submit your residence request if you wish. Note that if you sell your property or withdraw your capital from Greece before 5 years, the golden visa will also be invalidated. In the following, it is not without grace to express this issue that you can by clicking on the phrase ”  What is a golden visa?” Details and methods of obtaining it in 2024 , increase your information about this type of passport.

Latest Golden Visa 2024 changes

According to the latest news published about the changes of the Golden Visa in Greece, it is very likely that the Golden Visa program will expire by the end of 2025; The main reason for this is that the European Union has become saturated enough and after a short period of time, it is better to remove the golden visa opportunity. By doing this, they can prevent overcrowding in the European Union and the issuance of Greek golden visas in large quantities.

In general, it can be said that there is not much time left so that you can use this wonderful visa and get a hassle-free residence in Greece just by buying a property. Therefore, if you intend to immigrate to the beloved country of Greece with your family, we recommend that you take action while this golden opportunity remains. It should also be noted that by receiving this residence, you can easily travel to all EU countries without obtaining a special visa.

by the way the latest changes for Greek golden visa has been approved by the Greek parliament by 31 of March is the following  2024

Property Value:

• In the prefectures of Attica, Thessaloniki, Mykonos, Santorini, and other areas with a population over 3,000, the minimum property value is €800,000.
• In all other areas, the minimum property value is €400,000.
• The investment must be made in a single property, not multiple properties, with a minimum area of 120 sq.m.

Conversion of Buildings:

• For buildings with a different use that are converted into residences (office buildings, shops, or industrial properties that will be converted into residential properties), the minimum investment amount is €250,000.
• The conversion of use must be completed before submitting the application for a residence permit.
• The use of the property as the registered office or branch of a business is prohibited.

Historic Buildings:

• In the case of investments through the purchase of a property that consists of a restorable or reconstructed listed building or part of a listed building or within which a listed building is located, the minimum value of the property at the time of acquisition is €250,000.
• Special attention must be paid to the transfer of the above property. According to the relevant provision of the above article, the transfer of the property of this case before the completion of the full restoration or complete reconstruction is invalid.

Rental of Properties:

• Investors can rent out the properties, but they are not allowed to rent them out on a short-term basis.
• In case of violation, the residence permit is revoked and a fine of €500,000 is imposed.

Extension for Certain Investors:

• Third-country nationals who pay the full price or a 10% deposit, or sign a preliminary contract with the relevant proof of crediting the amounts to the seller’s account by 31 August 2024, can complete their investment by 31 December 2024 under the conditions that were in effect until now.
• In these cases, if the purchase of the property is not completed, the buyer can complete the investment in another property, always under the conditions that were in effect from the entry into force of this Law, but in any case not later than 30 April 2025.

Procedures for obtaining a golden visa for Greece

Going through all the steps of the golden Greek visa means getting this valuable visa. In the first step, the applicant must go to the embassy of this country to obtain a tourist visa. Then he should travel to this country and purchase property. In the next step, the applicant must complete and submit documents such as financial resources, identity documents, lack of criminal record.

After completing the above steps, you have to wait for the case to be reviewed by Greece, which generally takes a few days. If all the cases are confirmed and the Greek government agrees, you will received the with papers. it is necessary for the applicant to travel to Greece again and complete the final steps of receiving the Greek Golden Visa by biometrics.

Documents required to obtain a Greek Golden Visa

1) Main Investor

a) Power of attorney signed at a Greek notary pubic or embassy or authorization with signature
verified from KEP ( government authority in Greece)
b) Passport (all pages)
c) Entry visa (of any type) and entry stamp to Greece
d) Real Estate purchase contract
e) Notary’s certificate on the method of payment of the price
f) Certificate of registration of property and certificate of encumbrances of the property
g) Health Insurance
h) Stamp duty fees 2000 + 16

2) Adult Family Member

a) Power of attorney signed at a Greek notary pubic or embassy or authorization with signature
verified from KEP ( government authority in Greece)
b) Passport (all pages)
c) Entry visa (of any type) and entry stamp to Greece
d) Certificate of birth, marriage, or family status certified by the consulate, showing the
relationship to the investor
e) Health Insurance
f) Stamp duty fees 150 + 16

3) Underage Family Member

a) Power of attorney signed at a Greek notary pubic or embassy or authorization with signature
verified from KEP ( government authority in Greece)
b) Passport (all pages)
c) Entry visa (of any type) and entry stamp to Greece
d) Certificate of birth, marriage, or family status certified by the consulate, showing the
relationship to the investor
e) Health Insurance
f) Stamp duty fees 16

What is the cost of Golden Visa Greece?

• The set of costs to receive the Golden Residence in Greece are:
• Investment in real estate: minimum 250,000 euros
• Document transfer tax: 3.09%
• Land Registration : 2%
• Notary: 1%
• Construction engineer to check the documents and register the property in the city planning department: 1%
• Real estate consultant: 2%
• legal fee, including the lawyer’s fee for the proper execution of relevant matters and obtaining a Golden Visa residence: 5%

Important points of the conditions for obtaining a golden residence in Greece

It is important to know that you do not need to be in Greece to renew your residence permit. Of course, on the condition that you keep your capital in Greece. In this case, you can renew it every 5 years. To renew your residence permit, you must prove that you still own the property you bought. One of the goals of people who immigrate to Greece or other countries is to obtain residency in that country.

By investing in Greece and getting a Greek Golden Visa, you can become a Greek citizen. You should note that it is not possible to apply for citizenship of this country without being in Greece and paying taxes.

Conditions for obtaining a visa with the Greek Golden Visa

One of the most prominent advantages of the Greek Golden Visa is the possibility of obtaining residence and visa for companions such as spouse and children. The conditions for obtaining a visa with this type of visa are that the applicant first obtains a 5-year residency for his wife and children and they are all able to live in Greece.

This type of visa allows the applicant’s companions to travel freely to all Schengen member countries. If the companions want to start studying and working in Greece, they need to live in this country for 5 years and after this period they are eligible to get Greek citizenship and they can do any work there.

Benefits of the Greek Golden Visa

Obtaining a Greek Golden Visa has the following benefits:

You can bring along like family members even parents of spouses.
There is no age limit.
There is no need to provide a language certificate.
If you have a child under the age of 23 who is a student, he may be able to be included in the visa program.
You can travel to Schengen countries without a visa.
There will be no requirement to live in Greece to extend your stay for a longer period of time.
After 7 years of residence, it is possible to apply for Greek citizenship.
Greece is a member of the European Union and you will be able to travel to more than a hundred countries without a visa.
It is possible to access Greek education and social care.
Access to  the best cities in Greece to live

Disadvantages of Greek Golden Visa

Of course, in addition to the mentioned advantages, the golden stay in Greece also has disadvantages and limitations:

Investors are not allowed to work in this country.
Until they receive citizenship, they are not allowed to sell their property.

Obtaining a Greek passport

One of the important goals of most people applying for investment in Greece is to obtain a passport of this country, because by obtaining this passport, they are able to travel to more than 170 countries without a visa. In addition, it is possible to study, work and live in EU member states by receiving this passport.

It is worth noting that in order to obtain Greek citizenship,  and you can only be outside Greece for three months of these seven years. In total, by buying a property in Greece, you will receive a 5-year residency, but if you sell this property, you will also lose the residency.

Golden visa comparison of Greece with Spain and Portugal

The countries of Greece, Spain and Portugal have implemented an interesting Greek Golden Visa scheme to encourage foreign investors and strengthen their domestic economy. Golden visa programs in these three countries have basic and similar benefits, such as living in the host country, the possibility of traveling to Schengen countries, and the possibility of having companions such as family members. But they also have differences that we will mention below.

Stay

• Greece: receiving a 5-year residence in Greece, without the condition of attendance.
• Portugal: For investment applicants, in order to maintain the golden visa conditions, it is mandatory to be in this country for 7 days a year.
• Spain: You have to go to Spain once a year for the validity of the Greek Golden Visa.

Golden stay in Greece

Golden Greek visa in Greece, Spain and Portugal indirectly leads to citizenship.

Stargate Institute Greece Golden Visa package

By buying a property worth at least 250,000 euros, you can get a permanent residence in Greece. In this type of residence, all family members, including the parents of the spouse and the applicant, will be eligible to receive permanent residence. This type of residence does not require permanent presence.

Conclusion

Today, the Golden Visa of Greece has attracted the attention of investors from different countries, including Iran, and one of the main reasons for this is the possibility of obtaining the citizenship of this country if the conditions are met. This visa allows the applicant and his companions to stay for 5 years immediately.

You will qualify for this program by purchasing a property for 250,000 euros. It is necessary to be fully aware of the conditions of the Greek Golden Visa before investing in this Greek country to see if it is suitable for you or not. For this, you can use the advice of expert lawyers in this field.

Frequently Asked Questions Golden Residence Greece

Among these items are:

What are the conditions other than the investment amount to receive the Greek Golden Visa?

Among these things are: being over 18 years old, not having a criminal record, having financial resources, not having EU/EEA nationality, having health insurance for the individual + family members, being able to provide all the documents.

Is it necessary to know the Greek language in order to receive a Greek Golden Visa?

No, there is no need to learn the language. Of course, after 7 years in Greece, you need to take the Greek language test.

Is it possible to find a job with a golden visa in Greece?

No, it is not possible to work in Greece with a golden visa. Because this type of visa is for residence and not work. It is not even possible to work in any of the member states of the European Union.