Greece welcomes investors GOLDEN VISA AND OTHER RESIDENCE PROGRAMS – News

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Alexandra Botsiou

Know your criteria before applying to the island nation



By Alexandra Botsiou

Posted: Thu, 28 Oct 2021, 12:28 PM

The Greek Golden Visa program is the most competitive and affordable program in Europe, with the lowest investment threshold of € 250,000 for real estate investment or € 400,000 for term deposits or purchase of government bonds.

Greece welcomes investors GOLDEN VISA AND OTHER RESIDENCE PROGRAMS

The main advantages include:

– The lowest entry cost among other EU alternative programs.

– Initial procedure to be carried out remotely by proxy.

– Only one visit is required for the biometrics of the residence permit.

– Permanent residence is granted in just two months for three generations (main applicant and spouse, children up to 21 years old and parents of the main applicant and spouse).

– The most recent improvement allows minors to be the principal applicants.

– For the Real Estate Option, the principal applicant can buy several properties in order to complete the investment amount of € 250,000, in any part of Greece.

– The goods can be rented.

– The term deposit of € 400,000 is simpler and offers an easy solution and a capital guarantee.

– No minimum residency / visit requirement for renewal.

– Visa-free travel to 27 EU countries.

– Eligibility to apply for Greek citizenship after seven years of residence.

– The principal applicant can be the CEO of his company.

It is wise to employ a local attorney directly for due diligence on purchasing property and opening accounts, avoiding all-inclusive offers from various promoters or agents. Currently, the real estate market is at the right price entry level.

Visa for financially independent persons (FIP): Those who can prove a minimum monthly income of € 2,000 are eligible for a two-year residence permit – the amount increases if family members are to be included in the application. There is a minimum stay requirement of 180 days per calendar year. This program is suitable for families who want their children to attend Greek or international schools.

The tax regime of NON DOM provides for the exhaustion of tax liability for any income from foreign sources by paying an annual lump sum tax of 100,000 €, regardless of the amount of income earned abroad and without the obligation to declare any foreign income in Greece and an exemption from all inheritance or gift tax for any property abroad.

Family offices: The Greek parliament has approved a new law which defines the legal framework to guarantee transparency and provides incentives for the creation of Family Offices in Greece:

The Greek government recently introduced a special visa for digital nomads, which would allow internationals in remote jobs to work from Greece.

All of the above procedures can be performed remotely and only one visit to Greece is required for biometrics.

Vardikos & Vardikos is a fully-fledged law firm headquartered in Athens, with offices in the Caribbean islands of Dominica and Saint Lucia, providing among other things vessel / yacht registration services and is a provider of government approved services for the respective two islands investment citizenship programs.

– Alexandra Botsiou is a lawyer – Vardikos & Vardikos

For more information, visit www.vardikos.com

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