As a UK citizen, you may have encountered limitations on the freedom to move, reside, or work within the European Union due to the Brexit Withdrawal Agreement. However, there are alternative avenues available to continue enjoying these benefits. One option is the Golden Visa offered by countries like Portugal, Spain, and Greece.
The Greece Golden Visa program allows you to live, work, study, and move freely across the EU, and the opportunity is open to foreign investors, including those from the UK. If you’re looking for a cost-effective and practical option, consider the Greek Golden Visa available.
This article will explain the Greece Golden Visa, the documents you need to apply, and how it can benefit UK citizens. Let’s get started!
From access to world-class healthcare and education to the freedom of movement within the Schengen Area, these golden visa and citizenship by investment programs are tailored to meet the needs of discerning foreign investors, seeking a stable and prosperous future.
With Bondtilli, you embark on a journey of informed decision-making. We provide detailed insights and comparisons, ensuring that your choice of a Golden Visa program aligns perfectly with your aspirations and lifestyle goals.
f you’re a non-EU citizen looking for a quick and affordable way to obtain residency in the EU, the Greece Golden Visa program may be just what you need. This program grants a residence permit to real estate buyers who make a significant investment in the Greek economy, and it’s one of the most cost-effective and efficient residency-by-investment programs in the EU.
With a golden visa, foreign investors can obtain permanent residence status in Greece by investing in the country’s real estate sector. Various investment options are available, but the most popular is to buy real estate valued at a minimum of $250,000. You will receive a permanent residence permit and free travel in the Schengen Zone within a few months. You’ll need to renew the permit every five years, and you can apply for citizenship after seven years.
Other investment requirements include
● Sign a ten-year lease agreement for accommodations or furnished tourist residences.
● Invest at least €800,000 in Greek government bonds and keep them for five years.
● Invest at least €400,000 in real estate bonds or buy shares in investment companies and hold them for at least three years.
● Have a minimum investment of €400,000 in bank deposits.
Other non-investment criteria are stated below.
You must:
● Be aged 18 or above
● Not be a citizen of an EU/EEA country or Switzerland.
● Meet international anti-money laundering standards by passing a due diligence check.
● Have a clean criminal record.
● Have full medical insurance cover for the family, covering the entire duration of stay. This must be obtained from a company operating in Greece.
After meeting any of the necessary qualifications, you can apply for the Greece Golden Visa.
Investors must submit several documents to be considered for a residence permit. These documents include the following:
● The official application form
● A valid Schengen Visa (if applicable) for applicants and their family members.
● Four recent passport photos
● Greece-recognized passport or travel document
● Proof of payment of the application fee (€16 for printing the electronic residence permit).
● Proof of residency permit fee payment (€500)
● Health insurance payment proof
● Stable income proof, whether in the form of a salary, pension, or dividends
● An original copy of the final sales contract for the property, showing a minimum value of €250,000
● Title deed transfer certificate from the land registry
● Greek bank account and tax number
● Proof of a Greek residential address (you may use the property you bought under the golden visa)
It’s important to note that these documents must be certified with an apostille stamp or by the nearest Greek Embassy or consulate before submission. Additionally, they must be translated into Greek.
To obtain certified translations, you can contact either the Translation Service of the Ministry of Foreign Affairs in Athens or a Greek Bar Association member attorney.
Below are the steps to follow when applying for a Greece Golden Visa.
Step 1. Choose Property
Establish your investment criteria and select a property for purchase. Make the reservation fee and complete a reservation agreement to secure the property.
Step 2. Complete Legal Procedure
Obtain your Greek non-resident tax number and initiate a Greek bank account opening. This can be accomplished by utilizing power of attorney, eliminating the necessity of personally visiting Greece.
Step 3. Acquire the Property
Engage the services of a lawyer to perform comprehensive legal due diligence on the property. Subsequently, obtain a promissory sale-to-purchase agreement and proceed with the execution of a public deed.
Step 4. Complete the Pre-Submission Process
Collect all the required documents. It’s recommended to seek assistance from a lawyer during this phase.
Step 5. Travel to Greece
Submit your biometric data to the Greek authorities, including fingerprints, electronic signatures, and photographs.
Step 6. Get Approval
Your application will be carefully reviewed and approved by the Greek authorities. Once this process is completed, you will be issued your residence permit.
Step 7. Renew Residence Permit
It is necessary to renew your residence card every five years by providing evidence of maintaining your investment to ensure the continuity of your Golden Visa.
Step 8. Apply for Greek Citizenship
To apply for Greek citizenship, you must have physically resided in the country for seven years and paid taxes. Additionally, you will need to pass a B1 level Greek language test and a civics test.
The Greece Golden Visa for UK citizens provides numerous advantages beyond the individual, benefiting the entire family. Here are just a few notable benefits:
1. Visa-free travel to and employment opportunities in Schengen Countries.
2. Privileged access to the EU public funds and banking sector.
3. Right to live in Greece with your family
4. Comprehensive healthcare and educational advantages for the entire family.
5. Affordable living expenses and accessible healthcare.
6. An abundance of sunshine and a tranquil atmosphere, setting it apart from the bustling crowds often experienced in the UK.
Retiring to Greece from the UK after Brexit is possible, but if you plan to stay for over 90 days, you must apply for residency. You can invest at least €250,000 through the Greece Golden Visa program or by proving financial independence with a stable income source, like a UK pension.
A double taxation treaty exists between Greece and the UK, allowing you to select the country you prefer to fulfill your tax obligations. The intricacies of this matter exceed the scope of this article, and we recommend seeking guidance from the appropriate authorities, legal services, or the nearest Greek Consulate. It’s important to note that if your stay in Greece is less than six months per year, you are exempted from paying taxes on your foreign income regardless.
Greece: Offers a 7 year path to citizenship.
Portugal: Possible after 5 years holding Residency.
Spain: Possible after 10 years of legal Residency.
Greece boasts many top-notch international schools that provide excellent education based on the British curriculum. The most notable ones are located in Athens and Thessaloniki. While the fees may be higher than other educational institutions in Greece, they are considerably cheaper than UK schools.
Criteria | Greece Golden Visa | Portugal Golden Visa | Spain Golden Visa |
Investment Threshold | €250,000 in real estate | Starting from €500k in Funds or D2 Visa | €500,000 in real estate |
Path to Citizenship | Possible after 7 years | Possible after 5 years | Possible after 10 years |
Family Reunification | Includes spouse, children, parents, and parents-in-law | Includes spouse, children, and dependent parents | Includes spouse, children, and dependent parents |
Visa-Free Travel | Within Schengen Area | Within Schengen Area | Within Schengen Area |
Lifestyle and Culture | Historic sites, islands, Mediterranean climate | Vibrant cities, coastal towns, rich culture | Diverse landscapes, rich cultural heritage |
Economic Stability | Growing real estate market, tourism-focused | Diverse investment options, growing economy | Robust real estate market, diverse economy |
Legal and Tax Implications | Specific legal procedures and potential tax benefits | Legal procedures, NHR program benefits | Legal procedures, tax implications for investors |
At Bondtilli, we understand that the decision to apply for a Golden Visa involves numerous considerations and personal circumstances. To ensure that you receive the most tailored and informed guidance, we offer interactive consultation sessions. These sessions are designed to delve into your specific needs, answer your queries, and provide you with a clear roadmap for your Golden Visa application process.
Our consultations are more than just informational sessions; they are a deep dive into your aspirations and concerns. Whether you are contemplating the investment options, wondering about the residency requirements, or have questions about the application process, our experts are here to provide you with bespoke advice. We take the time to understand your situation, offering insights and solutions that align with your individual goals.
Our team of experts, with their extensive knowledge and experience in Golden Visa applicants and programs, will be available to you during these consultations. They will provide up-to-date information, practical advice, and strategic planning tailored to your objectives. This one-on-one interaction ensures that you have all the information and confidence you need to proceed with your Golden Visa application.
Scheduling a consultation is straightforward and can be done through our website. You can choose a time and date that suits your schedule, and we will arrange a meeting, whether it’s a phone call, a video conference, or an in-person meeting, depending on your preference and location.
In the world of Golden Visas and European residency by investment, your journey towards a brighter future starts here at Bondtilli. Throughout this comparison guide, we have explored the opportunities offered by the Golden Visa investment programs of Greece, Portugal, and Spain. We’ve provided you with insights, comparisons, and case studies to help you make informed decisions that align with your aspirations.
Your choice of a Golden Visa program is not just an investment; it’s a life-changing decision that shapes your future and that of your loved ones. Each program offers its unique advantages, whether it’s Greece’s historic charm, Portugal’s vibrant lifestyle, or Spain’s dynamic spirit. Your selection should reflect your dreams, goals, and lifestyle preferences.
At Bondtilli, we are more than consultants; we are your partners in realising your global residency and investment aspirations. With deep expertise in the European Golden Visa landscape, we specialise in offering tailored solutions that match your unique needs. Our commitment is to ensure that your journey towards European residency is seamless, informed, and aligned with your personal and financial objectives.
Your journey towards European residency and a world of opportunities awaits. Whether you’re an entrepreneur seeking business growth, a family looking for a brighter future, a retiree envisioning a peaceful life, or an investor with a strategic plan, Bondtilli is here to guide you every step of the way.
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