COUNTRY PROFILE
• Capital: Athens
• Population: 11.4 million
• Area: 131,957 sq km (50,949 sq miles)
• Major language: Greek
• Major religion: Christianity
• Life expectancy: 78 (men) 83 (women)
• Currency: Euro
• Exchange Rate (as of May 2018): US$ 1.00 = 0.841852 EUR
The Greece Citizenship Program (Golden Visa Program) is considered as the most affordable residency by investment route to Europe. The Program grants visa free access to the Schengen Zone to the applicant as well as the family within 2 months of submitting an application. After 7 years of residency in Greece, the applicant may apply for Greek citizenship, at which point he/she is free to dispose of the real estate investment.
In April 2013, Greece introduced Law 4146/ 2013 which offers a renewable five-year Greek residency visa to foreign nationals who invest at least EUR 250,000 in residential real estate that is physically located in in Greece. A residence permit for five (5) years is issued and can be renewed indefinitely (for a 5-year period each time), provided that the real estate property is still owned by the applicant. However, the residence permits do not allow a right to employment of any type.
| Type of Program | Citizenship by Investment |
| Type of Investments | Property purchase, a timeshare agreement, or the purchase of a plot of land. |
| Minimum Investment | 1. Property Purchase (Res. Or Commercial): EUR 250,000 2. Time Share 10 years Lease Agreement: EUR 250,000 3. Purchase of Plot of land (incl construction company contract): EUR 250,000 |
| Dual Nationality Permitted | YES |
| Personal Visit Required | YES. The applicants must travel to Greece to get passport stamped before submitting the Residency application. |
| Minimum Stay | Not required |
| Capital Gains Taxes | 15% |
| Personal Income Taxes | 45% |
| Business & Corporate Taxes | 29% |
| Property Taxes | The payment of the transfer tax is mandatory during the purchase of the immovable property in Greece, the property is taxed in two ways: 3.09% for the newly built properties with the construction permit issued before January 1, 2006, and the secondary housing properties irrespective of the date of issue of the construction permit. 24% in case if a construction permit was issued after the above mentioned date. |
| Processing Time | 2 Months |
| VISA Validity | 5 years |
| Restricted Countries | None |
| Visa Free Travel | 171 countries |
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