Full conditions for obtaining Greek residence by investment 

These days we hear from many people around us who intend to immigrate and invest in other countries. In the meantime, the choice of some is Greece. A Eurasian country in the southeast of the European continent, which is currently considered one of the best destinations for investment purposes in the world.

Obtaining a residence in Greece by investment, with an amount of 250 thousand euros investment in this country through the purchase of property, starting a start-up, there are conditions and methods of investment in Greece. Greece has gained a special place among the citizens of other countries by offering many benefits, including affordable investment, the possibility of obtaining a valid passport of this country and obtaining a Schengen visa.

It should be said that obtaining Greek residence by investment is one of the best and easiest ways to obtain a residence visa by investment method compared to other European countries, so in recent years there have been many applicants to immigrate to Greece by investment. But before taking action, you must obtain comprehensive information about its conditions and its various methods to obtain Greek residence by investment.

In this article, we have tried to compile a complete source of what you need to know about it. So if you intend to immigrate to Greece through investment, stay with us.

What are the investment standards in Greece?
In Greece, foreign investors should familiarize themselves with the investment standards available in this country. In general, the Greek government requires foreign investors to invest in projects that fall under the following categories:

Projects that are useful for the economic development of the country.
Projects that create jobs and increase the production of products in the country.
Projects that help improve the country’s economic infrastructure.
In addition, investment in certain sectors, including technology industries, tourism and development of production infrastructure, are attractive for foreign investors. However, before investing in any sector, the necessary research should be done to ensure the success of the investment and compliance with the relevant standards.

In Greece, some investment standards include property rights, necessary permits, development plans, market research and financial information. For example, before investing in real estate, one should pay attention to the permits, development plans and taxes related to real estate in Greece. Meanwhile, the Greek government tries to attract investors by providing financial and tax facilities as well as banking facilities.

As a foreign investor, you should be familiar with the financial concepts, tax and laws related to investing in Greece. For this reason, we suggest you consult with our financial and legal experts so that you can make your investment more confidently.

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Conditions for obtaining residence through investment in Greece (2024 update)
Like other countries, immigration to Greece is also possible in various ways, such as immigration by birth, marriage, becoming a refugee, work, study and investment. One of the most popular ways to immigrate to Greece is by investing in it. As we know, in some countries, investing in them will lead to the investor receiving residence.

Greece is also an attractive destination for investors all over the world due to its immigration status and its geographic location, which is the bridge between the continents of Asia, Europe and Africa, as well as its presence in the European Union.

In the meantime, one of the most important methods that Greece has considered for applicants to enter this country is investment, which is possible in different ways. Among these methods, we can mention buying property, registering a company, entrepreneurship, buying bonds, etc. Therefore, you should read all these things before doing anything to find out which method suits your conditions and choose the best option.

Important : According to the latest changes in 2023 , the purchase price of a property in Greece may change from 250,000 euros to 500,000 euros. This is the minimum amount of investment in Greece, which will increase to 532 thousand dollars in the coming months. ( Source )

Investigating investment opportunities in Greece
Greece is one of the most popular destinations for tourists due to its history and geography. In addition, as one of the member states of the European Union, with a dynamic buying and selling market and a strong support system, this country is considered as one of the top investment regions in Europe.

Greece has more than 200 islands and attractive coastal areas that can be a very good place to invest in this country. Despite this, investment in Greece has faced problems in the last two decades, but with the implementation of support programs for various industries in the country, tourism facilities and very good infrastructure, and the boom in the housing sector, today the investment conditions in this country are much better. has been

Among the investment opportunities in Greece, we can mention the real estate and construction market. Currently, the housing market in Greece is very dynamic and buying and selling property in this country is considered one of the best investment opportunities in Europe. Also, due to the prosperity of the tourism sector and the existence of attractive islands and coastal areas, investment in the tourism industry is also considered as one of the very good opportunities in Greece.

In addition, due to the location of Greece in the European continent and the existence of sea ports, export and import are also other investment opportunities in this country. Also, the information and communication technology industry is also growing strongly in Greece and there are investment opportunities in this field. In addition, due to the reasonable price of manufactured goods in Greece, creating a company and producing products in this country can also be an attractive investment opportunity.

To attract foreign investors, the Greek government has implemented programs that include providing financial facilities, exemption from value added tax for investment in certain sectors and facilities for obtaining visas. Also, this country has provided a suitable platform for the establishment of startup companies.

With all the investment opportunities in Greece, it is recommended that you do your research and consult with your trusted financial experts before making any decisions. In this case, your investment in this country can become an attractive and successful proposition. In the following, we will further examine each of these investment opportunities.

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1. Obtaining Greek residence by registering a company in Greece

Another method of investing in Greece is to register a company in this country. Registering a company in Greece does not result in obtaining a residence permit and it is only considered as an investment there. There are several ways to register a company in this country, which are:

Company limited by shares AE
In Greece, the company limited by shares is the best type of business from the company registration method, and the minimum required share capital for this company is 60,000 euros, which must be paid in full at the beginning of the business, and the minimum personal capital in shares must have a nominal value between 0.30 euros and be 100 euros. Note that the amount of shares invested by each person will determine his liability.

EPE Limited Liability Company
In Greece, a limited liability company is more welcomed by applicants due to the need for the lowest share capital, i.e. an amount of about 4500 euros, and having fewer formalities for establishment. This type is also like a company limited by shares, the responsibility of each shareholder depends on the amount of his investment.

2. Obtaining Greek residence by doing business in Greece

The point is that for applicants who are not citizens of the European Union, they can work in the field of tourism and tourism while continuing their education in Greece, if they are not graduates of the field of tourism. People who are interested in investing in Greece through entrepreneurship in order to carry out economic activities must prove their financial ability and present it to the government.

After submitting the relevant application, an interview meeting will be scheduled for him, and his attendance is mandatory. Hotels, restaurants, travel agencies, tours, etc. are among the things that are suitable for entrepreneurship in this country, and the cities of interest for this purpose are: Santorini, Mykonos, Rhodes, Les Paros, Kefalonia, Athens, etc.

3. Investing in Greece by launching a startup

One of the best ways to invest in Greece is to start a startup, which the government of this country also supports a lot. In this country, in order to start a startup, in addition to having a suitable business plan, people must have initial capital and work experience in their desired field. Today, due to the economic stability and the increase in the unemployment rate, this Greek investment method has attracted the attention of investors from other countries.

In order to create a startup in Greece, it is necessary that your business plan is such that you can convince the government and related officials that your action will be profitable for their country. If your work plan is approved, you are required to comply with certain regulations in order to be able to extend your temporary visa.

For example, you must be able to create eight jobs for Greek citizens by setting up your startup, and if you fail to do so, your visa will not be renewed after five years, and as a result, you will not be able to obtain permanent residency in Greece.

4. Obtaining residence by purchasing government bonds

Another way to invest in Greece is to buy government bonds, which is more risky than other methods. Due to its large debts, Greece has made it possible to get residence by buying bonds so that it can pay its debts.

With this method, you will receive a 5-year residency for yourself and your family members, and after 7 years, you will convert it into Greek citizenship. Because of the high risk and possible dangers of this method, be sure to get the necessary information from lawyers and experts before taking action.

5. Obtaining a self-supporting residence in Greece

Note that one of the easiest ways to immigrate to Greece with investment is obtaining a Greek residence with financial capability or self-support (FIP), which allows you to obtain a 2- or 3-year residence together with your family members.

In this way, the applicant must open an account with a balance of at least 25,000 euros in one of the reputable Greek banks and prove by providing the necessary documents that he can cover the living expenses in Greece for 2 years for himself and his companions. These documents should show that you have real estate, dividends, fixed monthly income, pension and the like.

A person applying for Greek residency with financial ability must prove that he/she has a monthly income of 2000 euros. In case of applying for residence for spouse and children, it is necessary to add 400 euros for spouse and 300 euros for each child. With this method, you will be able to easily extend your stay and apply for Greek citizenship after a few years. It should be noted that in this way, the Greek government will not give you permission to work in this country.

Permanent residence in Greece with investment, purchase of real estate
One of the attractive ways to invest in Greece is to buy property because the price of property in this country is relatively low. Investing by buying a property in Greece has many advantages, one of which is obtaining residency in this country. Investors can  obtain a Greek Golden Visa by investing at least $250,000 and buying real estate  .

One of the advantages of this visa and  residence in Greece  is the possibility to bring your spouse and children under 18 years old, as well as your parents and your spouse. It is worth mentioning that investment in Greek real estate must be done within the framework of the laws specified by the government of this country due to its many positive conditions.

Documents required to invest in Greece
In order to invest in Greece, you should first have the help of a lawyer specializing in immigration matters. Some of the necessary documents for investing in Greece are:

• Having a valid passport.
• Education documents and records.
• Resume (CV).
• Proof of sufficient capital.
• paying tax.
• Health certificate and health insurance in Greece.
• Identity documents of yourself and your spouse and children.

How to get a passport through investment in Greece

One of the biggest advantages of investing in Greece is that you can get a European passport by investing in this country. In order to get a European passport, you need to make minimum investment amounts in Greece. Currently, the minimum investment amount to obtain a passport through investment in Greece is 250,000 euros, and a person can apply for a passport after 7 years of investment.

If you invest directly, you should invest your capital in different sectors of the Greek economy. This includes investing in commercial land, real estate, stocks, securities, manufacturing of industrial goods, etc. If you invest indirectly, you can get a European passport by allocating your capital to an investment company.

In this case, you allocate your capital to the investment company and the company invests in different sectors of the Greek economy.

What are the benefits of investing in Greece?

It is worth noting that investing in Greece has advantages that we will mention below:

By investing and obtaining a residence in Greece, you will also receive a Schengen visa, by which you can travel to and from EU member states.
The cost of investing in Greece is much lower than in other European countries.
In addition to other problems, the existence of the economic crisis in Greece provides a good opportunity for the applicants to receive residence so that they can buy property for investment in Greece at a lower cost than in other countries. Also, due to the decrease in the amount of tax for the transfer of real estate in Greece, a unique opportunity has been provided for investors.
Greece is actually a bridge between Europe, Asia and Africa in terms of geographical location. This special geographical location provides the possibility to reach each of these three continents in less than an hour by plane.
Regarding the provision of medical services, Greece is in a good position. In 2000, this country was able to rank 14th among 191 member countries of the World Health Organization, which was significant compared to countries such as Germany, England and Cyprus. Also, Greece is in favorable conditions from the point of view of social security.
One of the advantages of investing in Greece is enjoying the beautiful nature of this country,  the best cities in Greece to live in  are Athens and Thessaloniki, but the good cities in Greece are not just limited to these two.

Disadvantages and risks of investing in Greece

One of the biggest disadvantages that people face when investing in Greece is the lack of work permits in the country. In addition to this, there are other disadvantages and risks that we will discuss below. Among these disadvantages, we can mention capital market fluctuations, economic instability of the country, financial and administrative problems in the field of business.

One of the risks of investing in Greece or any other country is the risk of confiscation of property, which according to research conducted in 2019, this risk is at the lowest possible level in Greece, but in general, investing in Greece has disadvantages, which are:
• Rate 45% income tax, which is a high rate compared to other European countries.
• High investment risk in the bond sector.
• High property prices.

The cost of investing in Greece
To obtain a Greek investment residence, the following fees must be paid:

Investment tax in Greece

Buying a property in Greece, in addition to the cost of the property purchase tax, there are other costs ahead, which include:

Deed transfer tax (FMA) fee.
Department of Urban Development.
Office in Greece.
Construction engineer to review documents and register the property in the city planning department.
Real estate consultant.
In this section, we will examine the amount of each of these costs. First of all, a person must pay the equivalent of 3.09% for the document transfer tax. In addition, it is equivalent to 2% for the urban development department, 1% for the office, 1% for the construction engineer and property registration in the urban development department, and 2% for the real estate consultant, which in total should pay 9% of the purchased property for taxes and administrative matters. pay more

Capital management in Greece

Capital management in Greece includes how to manage the money and assets of individuals, businesses and the government. This issue is like paying allowances. For capital management in Greece, people need to decide where to invest their money; Like putting it in a bank account, buying real estate, or investing in stocks and bonds. These choices will directly affect their financial well-being and future security.

Capital management in Greek businesses should also be done carefully. They decide how to finance their business, expand or invest in new financial markets. Effective capital management can be the key to the success or failure of a business. Therefore, it is of great importance.

As a result of the things mentioned, capital management in Greece has a great impact on the economic health of the country. Greece has a special focus on the well-being of citizens, the growth of jobs and the overall stability of the country, and for this reason, if you manage your capital in this country well, Greece will consider benefits for you; In order to manage capital in Greece in the best way, you can get help from Stargate, which provides comprehensive services in Greece.

Residency package with investment in Greece

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

In this article from  Stargate  , we found out that Greece is one of the attractive destinations for foreign investment. One of the best ways to invest in Greece is to buy a property because it has the lowest risk. There is no attendance requirement for this type of residence, and it is possible to receive residence for children up to 21 years old and the applicant’s spouse and parents as well as his spouse’s parents.

In addition, the applicant receives benefits such as free education for children under the age of 18, and after 7 years of residence in Greece, if he wishes, he can apply for a passport and citizenship there.

Frequently asked questions about staying in Greece with investment