What is Greece’s Golden Visa?
In July 2013, Greece launched its Golden Visa scheme. Similar to other such schemes elsewhere in Europe, the scheme permits non-European nationals to gain residency in return for making a significant investment in property or Greek government bonds or investment funds.
Although there is no requirement to become resident in Greece to qualify, a significant benefit is that the scheme can lead to Greek citizenship if so desired.
What are the benefits?
5-year residence permit in Greece
The Golden Visa scheme entitles you and your family to an initial 5-year residence permit in Greece, and also allows visa-free travel across the whole of the Schengen zone of 26 European countries. You will continue to be eligible to renew your residence permit every 5 years for as long as you maintain your investment in the country. Although there is no requirement that you stay in Greece at all, full citizenship can be granted on successful application after 7 years of continual residence.
Visas for your family
Members of your immediate family are also eligible for the visa under the same application, including your spouse, any children under 21 years of age, and also parents and parents in-law of the principal applicant.
Live, work and study in Greece
The visa allows access to live and work in Greece, to use the healthcare system and to enrol in the education system.
How it is obtained?
The most common way of acquiring the Golden Visa is through property purchase. Greece has the lowest property investment threshold among all such similar schemes in Europe at just 250,00 Euros. You are not obliged to live in the property however, and may even rent it out after purchase. You could also qualify at the same amount through signing a 10-year lease agreement on hotel or furnished tourist accommodation.
Investments in Greek government bonds is also permitted, as are investment funds headquartered in Greece, and bonds or shares in Greek real estate investment companies. The minimum such investment is 400,000 Euros.
In order to qualify for a Golden Visa in Greece, you must meet the following requirements:
Be a non-EU/EEA country citizen
Be at least 18 years of age
Have a clean criminal record
Hold medical insurance for yourself and your family
About Blacktower Financial Management
Blacktower Financial Management is ideally placed to offer expert, independent advice on reallocating your investments in conjunction with your Golden Visa application. With over 30 years of experience and local expertise, we can help guide you in making these vital financial decisions and safeguard your financial future.
If you need advice on tax planning or guiding through the complexities of any double taxation treaty you may incur as a result of your relocation, get in touch today for clear and independent advice.
Paul’s career in the financial services industry began in 2007 providing wealth management, FX brokerage, and investment banking to corporations and high net-worth individuals throughout Europe.
Since joining Blacktower in 2012 as regional manager, Paul has grown his role within the group by establishing a truly international presence.
Paul manages clients in all corners of the world, and frequently travels internationally to meet them, wherever they may live.
Areas of Expertise
Lump sum tax efficient investment plans, UK Pension transfers, SIPPS and QROPS are Paul’s speciality – he is known for offering clear, concise, and highly regarded advice for clients with UK sited pension schemes. Paul has received many testimonials for his expertise over his numerous years in the industry.
Paul also advises international clients in all manner of financial services including:
- International tax compliant investment structures
- Tax efficient investment structures
- Estate planning
- Retirement planning
- Wealth preservation
The following are a small sample of the many recommendations Paul has received from his clients during almost a decade in the industry.
I have been a client of Paul for more than 3 years. Paul is very knowledgeable, excellent communicator and takes great care of his clients.
He is focused on maximising the benefits for the client.
He is above all a man of great integrity and honesty.
I highly recommend him in this world where financial advisors can be more like sharks than partners.NC, September 2020
Paul was introduced to me by a colleague and helped me make a decision on moving my previous employers pension. Paul was able to explain my situation in terms that were transparent and understandable, answering questions and forwarding information around my situation. Moving forward Paul has demonstrated his knowledge of the financial markets and continues to communicate in an open, honest and understandable manner.AJ, Denmark, October 2015
Paul has advised and lead me through the whole process of moving my pension fund to a more profitable portfolio. He has been professional, attentive and trustworthy throughout and, maybe as importantly, is friendly and patient, explaining the many complicated options without reverting to selling tactics or financial jargon. It’s early days yet but I feel confident in us having a long standing work relationship and together endeavour to make my rather modest fund grow successfully.GA, Denmark, August 2015
I’m happy to personally recommend Paul as someone who safely and skilfully steered me through restructuring my pension portfolio in 2018. I am naturally financially risk-averse and even though I reached Paul via a strong personal endorsement from a good friend, it took his patience, guidance and advice over a long period of trust building to help me move ahead. I have no regrets, and I can say that his clear speaking, avoidance of over-promising and passion for his clients does shine through. In recent years I’ve received more than a hundred financial advisor cold-calls, but I will continue working with Paul.JS, August 2020
Paul has been helping us with our financial affairs since 2008, during which time he has consistently and expertly pre-empted our needs and given us sound financial advice. Above all I was impressed by Paul’s ability to understand our situation, as expatriates, and deliver funds & assets that truly fulfilled our requirements no matter what our situation. I would fully recommend Paul as a knowledgable, empathetic and down to earth adviser.LG, Dubai, August 2014
Paul has been my financial advisor since 2009, and has always given expert advice regarding my investments and especially my pensions (I am approaching retirement age). For example, Paul pointed out that one of my UK pensions could be converted to QROPS; he handled the transfer and advised that I could take part of the pension as a lump sum, which proved particularly useful at that time. I particularly value the fact that Paul’s advice is independent and not tied to specific company products, so I know I am getting honest recommendations without strings.RS, Germany, August 2013
Let’s talk today about the Greece Golden Visa
Your key to European residency and visa-free travel in the Schengen zone.