Greece Residency – IPC

Greece Residency

LIVE AND WORK IN GREECE

GREECE PERMANENT RESIDENCY:

Investment options
Real Estate Options
  • An investment in real estate property with a minimum value of EUR 250,000, plus the applicable taxes
  • A 10-year lease agreement for hotel accommodation or furnished tourist residences in tourist accommodation complexes with EUR 250,000 in rental amount (Article 8 of Law 4000/2001)
  • A 10-year time-sharing agreement for hotel accommodation with EUR 250,000 in rental amount (Law 1652/1986)
Capital contribution:
  • A capital contribution with a minimum value of EUR 400,000 to a company that has its registered office or establishment in Greece
  • A capital contribution with a minimum value of EUR 400,000 to a real estate investment company (Article 21 of Law 2778/1999) that will invest exclusively in Greece
  • A capital contribution with a minimum value of EUR 400,000 to a closed-end investment company (Article 5 of Law 2367/1995) provided that the aforementioned alternative investment institutions have the intention to invest exclusively in companies that have headquarters or establishments in Greece
  • €400,000 contributed to an established & registered company in Greece for the acquisition of shares in bonds itemized in trading on controlled markets or joint trading mechanism operating in Greece
Shares / bonds / government bonds:
  • With a minimum time, deposit of €400,000 in a national credit institution for at least one year with a standing order for its renewal
  • Purchase of Greek government bonds with a minimum acquisition value of EUR 400,000 and residual maturity of at least three years at the time of purchase, via a credit institution established in Greece
  • Purchase of shares or corporate bonds with a minimum acquisition value of EUR 800,000, which are admitted for trading in Greece
  • Purchase of units with a minimum value of EUR 400,000 of a mutual fund incorporated in Greece or Greek government bonds that are admitted for trading in Greece
  • Purchase of units or shares with a minimum purchase value of EUR 400,000 of an alternative investment fund established in Greece
  • € 400,000 Greek government bonds and residual maturity for a minimum period of 3 years via a credit institution established in Greece being the custodian of these bonds
Benefits of Permanent Residence program
  • Visa free travel across Schengen countries.
  • The whole family (including parents and in-laws) have the right to live in Greece and any country of the Schengen area during the period of visa validity.
  • Inclusion of dependent Children up to 21 years old and it may covers children up to 24 years old if they are still financially dependent and students.
  • There is no residence requirement in Greece for a certain period of time (prior to or after residence permit has been granted).
  • The right to study in any of the Schengen countries.
  • The right to obtain Greece Permanent Residence after five years from the date of obtaining residence permits.
  • The residence permit can be renewed indefinitely every 5 years, without any stay requirements, if you maintain your investment.
  • Access to the Greek health public services for free.
  • Qualifies for EU passport after 7 years of residence and living in Greece.
  • Fast and transparent procedure (within 2 months).
  • No language criteria when applying for Greek Residency permit.
  • Opportunity to rent out the investment property.
  • Varieties of investment options available.

WHY INVEST IN GREECE:

  • Member in EU since 1981.
  • Member of Schengen since 1992.
  • Greece has been ranked as the fifth best tourism brand in 2020.
  • Public education is ranked among the highest in the EU.
  • High Yield for rental.
  • There is no country in which you can find over 3,000 islands (227 inhabited) with the blue water of the Mediterranean Sea combined with such special architecture.
  • The economy of Greece is the 51st largest in the world, with a nominal gross domestic product (GDP) of $189.410 billion.
  • High Gross National Income.
  • High Human Development Index.
  • Greece is super-affordable in matter of cost living, especially when compared to North America and much of the rest of Europe.
  • High Yield for renting properties.
  • Greece is a proud nation that emphasizes family, tradition, and a love of the outdoors. Because tourism plays such an important part in the Greek economy.
  • English is widely spoken in many areas and the country’s infrastructure caters well for locals and visitors alike.
  • The quality of medical care in Greece is generally excellent, especially in major centers like Athens and Thessaloniki.
  • Excellent Mediterranean climate.
  • Greece is one of the safest countries in Europe, and has an easy-going, relaxed feel. I felt 100% safe wandering all over Athens.
  • 16th worldwide most visited country.
  • Greece offers stunning museums, sightseeing, and monuments from some of the most important parts of all human history.
  • Greece has a double taxation treaty.

ABOUT GREECE:

  • Official Name: Hellenic Republic
  • Form of Government: Parliamentary Democratic Republic
  • Capital: Athens
  • Population: 10,375,456
  • Official Language: Greek
  • Currency: Euro
  • Area: 131,940 sq.km
  • Education: Pre-school to Higher Education, Centralized and governed by the Ministry of Education and Religious Affairs, Greek/English Language
  • Culture: Western Culture and democracy - Key Fields: Architecture, Literature, Theater,Music
  • Environment: Mountainous with micro-climates
  • Health Care: National Health System(ESY) - Public and Private - Free for residents
  • Taxation: Direct and indirect Taxation system 22-45%
  • Tourism: International Tourism
  • Weather: Mediterranean
  • Politics: stable
  • Schengen: Included
  • Religion: Greek Orthodox

QUALIFICATION & INVESTMENT CRITERIA:

The requirements for the Greek Golden Visa:
  • Be a non-EU citizen
  • Be at least 18 years of age
  • Have a clean criminal record
  • Marriage certificate
  • Great customer support: accessible in different languages via phone and email
  • Be of good character
  • Make a qualifying investment
  • Maintain the investment for as long as you have a Golden Visa
  • Application form
  • Recent, passport-size pictures of yourself
  • Your valid passport along with a copy of entry visa as required
  • Proof of having paid the relevant government fees
  • Proof of having obtained health insurance in Greece for yourself and any family members.
  • Proof of source of wealth: documents providing from where the wealth has been derived
  • Proof of source of investment funds: supporting with bank statements for last 12 months, owned properties contracts, etc.
  • Proof of annual income –Audited accounts for business owners, HR letter, bank account interest rental contracts, etc.


Additional documents according to the type of investment you make:
For purchasing real estate:
  • A contract of purchase that attests to the fact that there are no conditions or exemptions in the purchase, states the total price of the purchase, and the method of payment (it must be in full, via credit held in an institution operating in Greece or via a credit transfer
  • Proof of transfer of the contract by the accountable Land Registry
  • Certificate issued by the Land Registry proving there has been no impediment related to the purchase


For renting a hotel or tourist establishment:
  • Timeshare contract for a minimum period of five years which should state the corresponding price per year;
  • Proof of transfer registration issued by the competent Land Registry;
  • A certificate issued by the National Tourism Organization (EOT) that it has been informed of the conclusion of the particular timeshare contract

For investment in a company:
  • Documents with details of the company receiving the investment, whether it is established or to be established (must include name, type of legal entity, and share-holders)
  • A document detailing the investment project
  • The location of the investment project
  • The budget and financing structure for the investment
  • A timeline detailing the implementation of the investment
  • Predictions for the results on the first five years of investment (feasibility study and cash flow forecast)
  • A document detailing the number of jobs that will be created by the investment
  • Your position in the investment project

Document guidelines:
  • The documents you submit have to be translated into Greek by either the Translation Service of the Ministry of Foreign Affairs in Athens, Greece, or by an attorney who is part of a Greek bar association
  • The documents you submit must be certified either by an Apostille Stamp (if your country is part of the Hague Convention) or by the nearest Greek Embassy or Consulate (if your country is not part of the Hague Convention)
  • There are some administrative costs that you will need to pay in order to apply for the Greek olden Visa
  • At the initial application and each renewal, the principal applicant must pay €2000. In addition, each family member older than 21 must pay €500, and for under 21, it is €150

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