The Greece Golden Visa program has gained significant popularity among investors worldwide in recent years. This program allows individuals to obtain Greek residency by investing in properties in the country.
Whether you're considering relocating or simply looking for a smart investment opportunity, the Greece Golden Visa offers numerous advantages worth exploring. In particular, the investment in real estate in Greece as part of the Golden Visa Program is exceptionally lucrative.
Read this article to learn more about the incredible benefits that the Greece Golden Visa via property investment offers.
What is Greece Golden Visa?
The Greece Golden Visa program was established in 2013 to encourage foreign investments and boost the country's economy. It offers residency permits to non-European Union citizens and their families who invest in Greek real estate.
Under this program, investors have the opportunity to obtain a five-year residency permit in exchange for a €250,000 property investment, which can be renewed indefinitely as long as the investment is maintained. Additionally, residency in Greece offers a pathway to Greek citizenship in just 7 years. If you hold the residency for 7 years and more while residing in the country for at least 183 days annually, you become eligible to apply for a Greek passport.
Overview of Greece Golden Visa Benefits
One of the main attractions of the Greece Golden Visa program is its simplicity and efficiency. Greece offers a straightforward application process with minimal bureaucracy, unlike other countries with similar programs. This makes the program accessible to a wide range of investors, including those looking for a hassle-free path to European residency.
Greece, with its rich history and stunning landscapes, has long been a popular tourist destination. However, in recent years, the country has also become an attractive option for those seeking investment opportunities. The Greece Golden Visa program has played a significant role in this transformation, enticing foreign investors from all over the world to consider Greece as a place to invest and establish residency.
Another advantage of the Greece Golden Visa program is the opportunity it provides for families. The program extends residency permits not only to the main investor but also to their spouse, children under the age of 21, and even the parents of the main applicant and their spouse. This makes it an attractive option for families looking to secure a better future for themselves and their loved ones.
Moreover, Greece's strategic location in the Mediterranean region makes it an ideal base for exploring Europe and beyond. With its well-connected airports and ports, residents with a Golden Visa can easily travel to other European countries, enjoying the benefits of both Greek residency and the freedom to explore the wider continent.
Lastly, investing in Greek real estate not only provides investors with a pathway to European residency but also offers the potential for attractive returns. The country's property market has shown signs of recovery in recent years, with prices stabilizing and even increasing in some areas. This, coupled with the allure of the Greek lifestyle, makes the Greece Golden Visa program an enticing prospect for many.
Why Investing in Greece Property via Golden Visa Market is a Wise Option
Greece's property market has shown impressive resilience and growth potential in recent years. Despite the economic challenges the country has faced, its real estate market has remained strong. This stability is attributed to various factors, including the country's rich history, diverse landscapes, and tourist appeal.
Moreover, the rental market in Greece is thriving, presenting a great opportunity for those looking to generate passive income. With a high demand for rental properties, particularly in popular tourist destinations, investors can enjoy attractive rental yields.
Furthermore, the Greek government has taken proactive measures to boost the property market and attract foreign investors. These initiatives include streamlining the legal framework, implementing tax incentives, and offering a transparent and well-regulated property market. All these factors combined make investing in Greece's property market a wise and potentially lucrative decision.
Whether you choose to invest in residential or commercial real estate, the Greece Golden Visa program allows you to tap into this profitable market.
Benefits of Residential and Commercial Real Estate in Greece
One of the biggest advantages of the Greece Golden visa is that it allows you to invest in both residential and commercial properties.
Residential properties in Greece are particularly attractive to those seeking a second home or a place to retire. The country's warm climate, beautiful landscapes, and vibrant culture make it an ideal destination for many. Additionally, investing in residential properties can provide a regular income stream through vacation rentals or long-term leases.
On the other hand, commercial real estate presents an opportunity for investors looking for higher rental yields and potentially larger capital gains. Greece's strategic geographical location and thriving tourism industry make it an appealing destination for businesses. Investing in commercial properties such as hotels, restaurants, or retail spaces can offer significant returns on investment.
Rental Yields in Greece
One of the key factors that make investing in Greek real estate attractive is the potential for high rental yields. The demand for rental properties in Greece has been steadily increasing, with tourists and long-term residents seeking quality accommodations throughout the country.
Statistics show that rental yields in Greece are between 4% and 8% depending on the area, with Athens’s suburbs being the most profitable.
Other popular tourist destinations, such as Santorini and Mykonos, also offer excellent opportunities for investors to generate substantial rental income. With well-managed property and effective marketing, investors can enjoy attractive rental yields that outperform many other European countries.
Parting Thoughts
Investing in the Greece Golden Visa program offers a unique opportunity to obtain residency, explore new horizons, and reap the rewards of property investment. With its straightforward application process, attractive benefits, and thriving property market, Greece is undoubtedly an appealing destination for savvy investors looking for a property investment that pays them back in more ways than one.
However, you must act now! From July 31, 2023, the Greek government will be raising the investment threshold in high-demand areas, including Athens, Mykonos, Santorini, and Thessaloniki. This means that instead of the usual €250,000, you must invest double the amount equating to €500,000.
The change was originally set to take effect on May 1, 2023, but a recent parliament vote has extended the deadline for the old threshold to July 31, 2023. This extension will give both current and new investors time to finalize their applications and payments before the new investment threshold comes into effect.
Want to take advantage of the last opportunity to secure a property and European residency under the lower investment threshold? Contact the High Net Worth Immigration team and let us help you with the entire process.
