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Why Greece

Sunny days and outstanding landscapes in one of the most visited countries worldwide. Greece is a place that meets all visitor’s expectations. Those who are interested in discovering the unique traditional culture and glorious masterpieces of ancient times, to those who are seeking for sandy beaches and lively nightlife. Athens the capital of the country combines the characteristics of an emerging metropolis and the historical significance of the oldest city in Europe.

Greece consists of

Peninsular Mainland

The peninsular mainland (extending from the southern region of Central Greece to the northern region of Thrace)

The Peloponnesian Peninsula

The Peloponnesian peninsula is separated from the mainland by the Corinth Canal

Archipelagos

The archipelagos of approximately 6,000 islands and islets, scattered in the Aegean and Ionian Sea, of which 227 are inhabited. Most of them are located in the Aegean Sea and divided into seven clusters: Northern Aegean islands, Sporades, Evia, Argosaronic islands, Cyclades, Dodecanese and Crete. The Ionian islands cluster is located in the Ionian Sea.

Greece in numbers

131,957 km2

The total area of Greece

10,815,197

Population (2011 estimate)

13,676 km

Length of Greece’s coastline, according to the CIA World Factbook, 7,500 km of which surround the thousands of islands in the Greek archipelago

80%

Of the country consists of mountains or hills, making Greece one of the most mountainous countries in Europe
Greece has recently emerged from a financial crisis that lasted more than ten years. Real estate value that was highly affected with abnormally low demand and a significant drop in prices, is currently on the rise following a healthy upward trend with a steady increase in demand for residential and commercial properties. It is also the focus of many international investing firms that aim to include a significant portion of their real estate portfolio in Greek properties. Moreover, the Greek Golden Visa program has attracted many individual investors who obtain residential and commercial properties as an investment. Coupling that to the significant rise in demand due to tourism and short-term lettings and also a recovering domestic market, results in a healthy growing market with many investment opportunities.

Residence Permits – Golden Visa

The Immigration and Social Integration Code (Law 4251/2014, Government Gazette 1, no 80) contains provisions that facilitate the stay of third-country investors, whose investments are characterized as strategic investments, via the provision of extended stay time limits for the representatives of investment bodies and their partners. Moreover, it allows the granting of residence permits to third country nationals and to members of their families, who purchase real estate property in Greece.

Golden Visa is an investment scheme gives to foreign investors and their families the ability to travel freely across all EU countries and the option to live in Greece. It is a type of permanent residence permit given to non-European citizens that invest their money in Greece

It is worth noting that Greece’s Golden Visa Program has the competitive advantage of having the lowest required amount in Europe. Any foreigner over eighteen (18) years old with a real estate investment of € 250,000 and above, can apply for the Greek program. Any number of properties, residential or commercial, located anywhere in the country can combine to make up the minimum amount of € 250,000. Additionally, more than one investor can combine capital in one property.

Getting the Golden Visa and the benefits that comes with it is really easy but some hierocracy is required. The time needed to issue a Golden Visa in Greece is approximately two (2) months. The potential applicant must have made the investment before applying and will need a clear criminal record and medical insurance to cover any stay in Greece. The investor’s lawyer and investment consultancy are usually needed for the process to be efficient, quick and hassle-free.

Please download here a Brief Guide to Residence Permits for investment activity in Greece, edited by Enterprise Greece, in the following languages: English, Greek, Chinese (to be updated) and Russian (to be updated).