Vacationing on the Mediterranean is an attractive idea that deserves attention. However, it is not the interest in vacation that makes you wonder how to stay in a hospitable country. In cases where the stay is going to be long, you need to prepare documents.
The assessment of the situation from the point of view of wealthy entrepreneurs is no less high. Foreigners should find out about the Golden Visa program to get a visa-free entry. In addition, Greek residency by investment is beneficial due to the introduced taxation system. People with dual citizenship do not pay taxes twice: this right is enshrined in local laws.
Since there is no need to rush into a decision, it is worth spending time looking for detailed information. To do this, you can open thematic forums or read the opinions of specialists. In any case, participation in the special program attracts hundreds of investors every year.
How to Immigrate to Greece
Traveling to the sunny country is a pleasant adventure, provided you have the right permits. There are several ways to stay in Greece and obtain the rights of a local resident. Thus, among the permissible ways are:
- Obtaining a work visa. Investors, teachers, and many other professions can obtain a work permit in the country. To do this, you need to provide employment documents and wait for a response.
- Family reunification. In this case, minors and partners of residents who are officially married receive a residence permit. The preparation of documents follows the scenario defined by law. Both the investor and any other foreigner can apply.
- Golden Visa. The program is available to wealthy entrepreneurs who are ready to contribute to the economy. The government offers several investment options, and the interested investor determines the best one according to his preferences.
The latter method of immigration to Greece is in great demand. This is due to simple conditions, a small investment amount, and numerous advantages. With this in mind, it is worth spending more time to familiarize yourself with it and consult with Immigrant Invest specialist Vladlena Baranova.
Investment Options
It is not difficult to apply for and obtain a residence permit. Wealthy foreigners are somewhat limited in their choice of options, but the available ones make them forget about this drawback. To participate, it is enough to purchase real estate and retain ownership of it for the next 5 years.
The amount of capital to be contributed under the terms is determined based on several criteria:
- purchase or lease
- location area;
- purpose of use.
The new terms of the program came into force in 2023. Now foreigners must take into account the region where the selected property is located. Buying property in densely populated areas leads to higher costs. Instead of 250 thousand dollars, the purchase should cost from 400 thousand. As for less popular cities, the conditions for participation have not changed.
Eligibility Criteria
Wealthy participants have to fulfill not only the conditions for contributing capital, but also several others. Foreigners provide documents to confirm the presence of:
- valid health insurance;
- capital to support themselves and other family members;
- a clean criminal record;
- a legal business with a profit.
The minimum age of the main applicant is 18 years. Added members who are dependent on the main investor also undergo a medical examination. However, they are exempt from paying any investment, as in other countries with Golden Visa. The collected documents must be submitted to the consul for review and approval.
Key Benefits of Living in Greece
Staying in the country is attractive not only because of the opportunities for a great vacation but also because of other advantages. First of all, there are no restrictions on the length of stay. This right is also granted to other added applicants, i.e. the partner and children of the main investor.
The cost of living looks attractive. According to preliminary estimates, permanent residents have favorable rental offers, and most products are supplied by local producers.
The taxation system eliminates double taxation. This right is granted to all foreigners whose applications have received preliminary or final approval of the Greece golden visa application. This advantage allows you to relocate your business to Greece and take advantage of more favorable capital gains taxes.
There are no minimum stay requirements, so the resident is free to move around the country. Visa-free entry to the Schengen area will help speed up border crossings for business development.
Considerations for Investors
Specialists help you make the decision to participate in an attractive program. They provide counseling services. In addition, with the support of an accredited agent, the necessary documents and permits will be drawn up. Those who are interested in choosing the best possible option should seek advice.
Obtaining a Greek residence permit by investment is beneficial for business. Reducing costs, switching to a new taxation system, and minimum requirements will improve the company’s performance. The ownership of real estate is used to start a tourism business and permanent residence.
Foreigners who wish to stay in Greece can start the naturalization process. Citizenship can be obtained after 5 years of residence and compliance with local laws. There is no longer a need to open a visa to European countries, and the process of obtaining a permit from the United States is simplified. These advantages are taken into account when discussing participation.
