The program aims to attract foreign direct investment and stimulate economic growth by offering residency rights to individuals and their families.

Eligibility Criteria
Eligibility Criteria for the Greek Golden Visa:

Non-European Union (EU) Citizenship: The Golden Visa program in Greece is open to individuals who are not citizens of any EU member state.

Investment Options and Minimum Investment Amounts: Applicants must meet the investment requirements through one of the following options:

a. Real Estate Investment: Invest a minimum of €250,000 in residential property in Greece. This can be achieved through purchasing or leasing property.

b. Business Investment: Invest a minimum of €250,000 in a Greek company or establish a new business that contributes to the country's development and job creation. This option requires meeting certain business and financial criteria.

c. Government Bonds: Invest a minimum of €400,000 in Greek government bonds. These bonds must be held for a specific period, as determined by the program.

Financial Proof: Applicants need to provide evidence of the legal origin of the invested funds. This can include bank statements, tax documents, business records, or other relevant financial documentation.

Health Insurance: Proof of health insurance coverage is required for the applicant and their accompanying family members.

Clear Criminal Record: Applicants must provide a certificate of good conduct or a clear criminal record from their country of residence.

Medical Examination: Applicants may be required to undergo a medical examination to ensure they do not have any contagious diseases or conditions that would pose a public health risk.

It's important to note that these eligibility criteria are based on the information available up to September 2021. The program requirements and regulations may change over time, so it's advisable to consult official sources or seek professional advice for the most up-to-date information regarding eligibility for the Greek Golden Visa.

Application Process
The application process for the Greek Golden Visa involves several steps. Here is an outline of the process:

Gather Required Documents: To apply for the Greek Golden Visa, applicants need to gather several required documents. These typically include passport copies for all applicants, proof of legal entry into Greece or the Schengen Area, evidence of investment funds and their source, title deeds or lease agreements for real estate investments, business plans or company documents for business investments, proof of investment in government bonds (if applicable), marriage certificates and birth certificates for family members, and health insurance coverage for all applicants. These documents are crucial for demonstrating eligibility and supporting the application.

Submitting the Application: To submit the Golden Visa application, applicants need to complete the required application form, gather all necessary supporting documents, and submit them to the Greek authorities. The application should be accompanied by the applicable processing fees. Once submitted, the authorities will review the application and supporting documents to determine eligibility for the Greek Golden Visa program.

Processing Time and Fees: The processing time for the Greek Golden Visa can vary, typically taking several weeks to a few months. It is important to stay informed about any updates or changes in processing times. Additionally, applicants should be prepared to pay the applicable processing fees, which may vary depending on the chosen investment option and the number of applicants included in the application. It is advisable to check the official sources or consult with professionals for the most accurate and current information on processing times and fees.

Benefits of the Greek Golden Visa
The Greek Golden Visa offers several benefits to individuals and their families who obtain residency through the program. Here are some key advantages:

Residency in Greece: The Golden Visa grants the right to reside in Greece for a period of five years, which can be renewed as long as the investment is maintained. This allows individuals and their families to live and enjoy the Greek lifestyle, culture, and amenities.

Freedom to Travel: The Greek Golden Visa provides visa-free travel within the Schengen Area. This means that residents can visit and explore other European countries without the need for additional visas or permits, making it easier to travel for business or leisure purposes.

Work and Business Opportunities: With the Greek Golden Visa, individuals are permitted to work in Greece, whether it be as an employee or through self-employment. This opens up employment and entrepreneurial prospects within the country.

Access to Education: Residency through the Golden Visa enables children to attend schools and universities in Greece, offering them access to quality education and potentially benefiting from Greece's renowned academic institutions.

Healthcare and Social Services: Golden Visa holders have access to Greece's public healthcare system, ensuring quality medical care. They are also entitled to other social services provided by the Greek government.

Maintaining Residency
Maintaining Residency in the Greek Golden Visa program is essential to ensure the validity of your residency permit. Here are some key points to consider:

Renewal Process and Requirements:
a. Residency permits obtained through the Golden Visa program are initially valid for five years. Before the expiration date, you must apply for a renewal to maintain your residency.
b. The renewal process typically requires demonstrating that you have maintained the original investment. This may involve providing documentation such as property ownership certificates, business financial statements, or proof of government bond holdings.
c. It's important to stay updated on any changes in renewal requirements, as regulations can evolve over time. Consulting official sources or seeking professional advice is recommended.

Consequences of Not Maintaining the Investment:
a. Failure to maintain the required investment may result in the revocation of your residency permit.
b. If you sell the property or liquidate the business or government bonds that served as the basis for your investment, you may lose your residency rights.
c. It's crucial to carefully manage and monitor your investment to ensure its continued compliance with the program's regulations.

Conclusion
In conclusion, the Greek Golden Visa program offers non-European Union citizens the opportunity to obtain residency in Greece through significant investments in the country. By meeting the investment requirements, individuals and their families can enjoy various benefits, including the right to live, work, and study in Greece, as well as the freedom to travel within the Schengen Area.

Source link: https://www.lexidy.com/services/greece/immigration/golden-visa/