Greece Golden Visa vs. Other European Programs- What Sets It Apart?

Almost all the countries in European nations offer individuals and investors the opportunity to gain residency or citizenship of their nation by holding a golden visa.

All the countries provide access to their golden visa after depositing an investment amount in their respective real estate or development works.

Greece is also one such nation where any individual, family, or investor can gain a Greece golden visa by investing in real estate in the country. Because people worldwide are fascinated by Greece’s beauty, it has become a hot spot for people considering a second citizenship.

Many other factors make Greece’s golden visa stand out from the golden visa programs of other European countries. We will talk about those factors later. But let’s first look at what exactly the Greece Golden Visa program is.

Understanding Greece Golden Visa Program

So, the Greece Golden Visa Program began in 2014, allowing affluent investors to seek residency in the country. The Greece Residency by Investment Program took off fast due to its low fees and high popularity.

This program is a fantastic investment, offering candidates access to the EU, a path to citizenship, and other travel benefits.

Factors that make Greece’s Golden Visa Program Attractive

Here are certain factors that make Greece’s Golden Visa Program alluring amongst global citizens for their second citizenship:

●    Investment Criteria to Opt for Greece Golden Visa

According to the Global Residence Index, to apply for a golden visa in Greece, any investor needs to invest the amount of €250,000 in real estate. This amount is much less compared to the investment for citizenship amounts of other European countries.

This is one of many factors we will discuss that makes Greece attractive to investors. Moreover, Greece’s real estate market offers diverse options. It includes properties in urban centers, islands, and tourist destinations.

●    Residency and citizenship pathways 

A Greece’s golden visa participant gets a five-year residency permit in this beautiful place. Such a permit allows you and your family to live, work, and study in Greece. You can apply for Greek citizenship once you complete a seven-year compulsory residency.

With Grece’s citizenship comes all the benefits of being an EU citizen, including freedom of movement across the Schengen Zone.

●    Speedy and efficient procedure

Greece’s program is well-known for its short processing timeframes. Investors frequently acquire resident permits within a few months after applying, providing them quick access to European residency.

●    Allowance for family inclusion 

One of the most important benefits of Greece’s golden visa program is that it extends to the family. That means under this visa, you can shift to Greece with family members, including spouses, children under 21, and dependent parents.

This part of the program makes it even more alluring than any other European nation’s golden visa program.

Comparison Between Greece’s Program Vs. Other European Golden Visa Programs

Now, we will discuss the same aspects of the Golden Visa programs of European countries and show you how Greece’s Program varies from other European Golden Visa Programs.

●    Investment Requirements

Spain: The Golden Visa program in Spain needs a minimum real estate investment of €500,000, twice the amount necessary in Greece.

Portugal: It has a popular Golden Visa scheme that requires a €500,000 investment in real estate. It does offer a lower investment option of €350,000 for houses older than 30 years or in urban restoration zones.

Cyprus: Cyprus demands a minimum real estate investment of €300,000. This makes it slightly more expensive than Greece. Yet, it is still less expensive than several other European programs.

●    Processing time

Portugal: Portugal is also renowned for its faster visa processing time than Greece. Like Greece, Portugal’s golden visa also allows residency within a few months.

Spain: Compared to Greece, processing processes in Spain might be longer. Sometimes, it takes a year or more to get a residency.

●    Family Inclusion

Spain and Portugal: Spain and Portugal’s Golden visa programs, like Greece’s, allow for family membership. The family members can include spouses and dependent children only.

Cyprus: The investor’s spouse, minor children, and adult dependent children up to 28 are all eligible under Cyprus’s program.

Benefits of opting for Greece’s Golden Visa Program Vs. European Country’s Program

Greece Golden Visa Program Benefits 

Whether you, as an investor or individual, want to travel more freely around the European Union, get away from emergencies in your native country, or take advantage of tax breaks, the Greece Golden Visa Program has it all. Some of the most well-known advantages are:

Access to Schengen Zone

Like many other European countries, Greece’s golden visa gives you access to the Schengen zone for up to 90 days out of every six months.

It means that you get visa-free access to travel within 26 European countries. Because the nations of the Schengen Zone are hard to get visas for, it is a golden opportunity for you. It brings you both business tours and leisure travel advantages.

Tax leverages

Holding a Greece golden visa can bring you monetary advantages. Under the tax advantages of Green, you are allowed to pay an annual charge of your income rather than paying on a percentage basis.

The primary investors get an extra perk. They are allowed to pay a flat annual tax of €100,000, irrespective of how high their income is.

Paves the way to European Citizenship

Under Greece’s golden visa, an investor and their family can live in Greece for as many years as they want. This allowance paves the way for them to get access to European citizenship, which is a tough process to break through.

Warm and Welcoming people 

Because English is the common and most spoken language of Greece, it gives a sense of belongingness to every newcomer here. The people of Greece are so kind and warm-hearted and thus make everyone part of their community and family.

European Countries Programs Benefits 

These programs confer the benefit of residency or citizenship in an EU country and access to healthcare, education, and travel inside the Schengen Zone. Furthermore, you can potentially attain citizenship after completing specific residency criteria.

Investment Options and Associated Fees

Greece’s Golden Visa 

Individuals above 18 years old, with clean legal records and ample income, can apply for Greece’s golden visa by investment.

Despite real estate being the most popular investment choice, Greece provides investors with a wide range of investment options to earn a Greece Golden Visa.

Option1. Through Real estate purchase

You can invest in any commercial or private real estate to get citizenship/ residency by investing in Greece. The lowest investment price is €250,000.

The best thing is that if you do not want to live/use your purchased property, you can always put it on rent. After the completion of 5 years of the buying, you can sell the property and enjoy a return on your investment.

Option 2: Through Bank Deposits

To be eligible for Greece’s golden visa, you must make a bank deposit €400,000.

Conclusion

Whenever we talk about the Golden Visa programs of European countries, Greece always stands out. Its unique features, like its affordability, diverse real estate options, relatively faster processing times, and the pathway it offers towards EU residency and potential citizenship, make it likable to choose for second citizenship among global citizens.

After briefly discussing how Greece’s golden visa program differs from European countries’ programs, we hope your choice is cleared.

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