{"id":36240,"date":"2021-05-23T18:52:22","date_gmt":"2021-05-23T14:52:22","guid":{"rendered":"https:\/\/www.savoryandpartners.com\/?p=36240"},"modified":"2021-05-24T13:06:33","modified_gmt":"2021-05-24T09:06:33","slug":"greece-residency-by-investment-a-simplified-timeline-of-the-program","status":"publish","type":"post","link":"https:\/\/old.savoryandparnters.com\/blog\/greece-residency-by-investment-a-simplified-timeline-of-the-program\/","title":{"rendered":"Greece Residency by Investment: A Simplified Timeline of the Program"},"content":{"rendered":"

A relatively new program on the scene, the Greece Golden Visa Program was launched in 2013 and has quickly gained popularity on the level of its other European counterparts, like Portugal, Spain and Bulgaria.\u00a0<\/span><\/p>\n

The program\u2019s success is largely due to it offering the lowest investment entry point of any real estate residency visa program in Europe. And with the government of Greece recently introducing a remote application process to the program\u2019s procedure, it will be of no surprise to see the number of applicants steadily grow under the COVID-19 crisis.\u00a0<\/span><\/p>\n

In this article, we explore the steps and timeline, as well as the investment option and benefits, that are associated with the <\/span>Greece Residency by Investment<\/span><\/a> (RBI) program.<\/span><\/p>\n

In This Article:<\/strong><\/em><\/h3>\n
    \n
  1. Steps and timeline<\/a><\/span><\/li>\n
  2. Investment options<\/a><\/span><\/li>\n
  3. Benefits of Greek Residency by Investment<\/a><\/span><\/li>\n
  4. Book a free consultation<\/a><\/span><\/li>\n<\/ol>\n

    Steps and Timeline<\/b><\/em><\/h3>\n

    The entire application process <\/span>consists of a few simple steps<\/span><\/a> and can be processed and completed anywhere from as little as 30 to 50 days. A breakdown of the timeframe is as follows:<\/span><\/p>\n

    Step 1:<\/b><\/h4>\n

    This stage consists of you selecting what kind of property you want to invest in, as well as choosing an authorised agent, like Savory & Partners, to take care of your application.<\/span><\/p>\n

    You Might Also Like: Who\u2019s Who in Europe? The Differences between the EU and Schengen Area<\/em><\/a><\/p>\n

    In addition, your authorised agent will aid you in collecting all the necessary documents and prepare all the paperwork during this time, as well as formally submit your application to the \u201cGreece Immigration Office\u201d.<\/span><\/p>\n

    Step 2:<\/b><\/h4>\n

    The next step requires you to apply for an entry visa at the closest Greek consulate in your home country. You need to have either a type C Schengen visa or a type D national visa to purchase property in Greece.\u00a0<\/span><\/p>\n

    \"Schengen

    Schengen visa issued by the Greek Embassy.<\/p><\/div>\n

    Step 3:<\/b><\/h4>\n

    Savory & Partners will help find and guide you to a Greek property that fully satisfies your requirements. We will then prepare the property purchase documentation required to be presented in your residency application.<\/span><\/p>\n

    Step 4:<\/b><\/h4>\n

    You are then required to travel to Greece to provide your biometric data to the relevant authorities.\u00a0<\/span><\/p>\n

    However, if you are uncomfortable with the idea of travelling during this time, the program\u2019s laws have been amended to allow for remote applications. <\/span><\/p>\n

    This means, applicants are now able to sign a Power of Attorney (PoA) with a local law firm in Greece, who can then submit the residency application on the investor\u2019s behalf, as well as complete the qualifying investment. The remote application process can be completed at a local Greek Consulate in your city.<\/span><\/p>\n

    Related Article: The Greece Golden Visa Goes Remote – Our Experts Explain Why and How to Apply<\/a><\/em><\/p>\n

    \"Greek

    Greek Consulate in Istanbul, Turkey.<\/p><\/div>\n

    Step 5:\u00a0<\/b><\/h4>\n

    The application, by yourself or PoA, will then be submitted to the official Directorate of Immigration. If your application is approved by the Secretary-General, you and your family receive residence permits.\u00a0<\/span><\/p>\n

    The permit is valid for a period of 5 years, after which you\u2019ll need to apply to renew your residence card.\u00a0<\/span><\/p>\n

    Step 6: <\/b>(Optional)<\/span><\/h4>\n

    If you plan to apply for Greek citizenship in the future, you will be required to live in the country and pay taxes for 7 years to be eligible.\u00a0<\/span><\/p>\n

    Investment Options\u00a0<\/b><\/em><\/h3>\n

    To obtain permanent residency in Greece, the residency by investment program requires you to make a qualifying investment into the country:<\/span><\/p>\n

    Real Estate<\/b><\/h4>\n

    There is only one option available to investors, which will require a real estate investment. A minimum investment of <\/span>EUR 250,000 <\/b>must be used to purchase commercial or residential property, or the same investment threshold can be put into a lease or timeshare option.\u00a0<\/span><\/p>\n

    Please note: <\/i><\/b>The qualifying investment is not the only cost that will be charged to investors when applying to the RBI program. In addition to the investment, there are government processing fees, professional fees and <\/span><\/i>other costs associated with both options<\/span><\/i><\/a>. When using <\/span><\/i>Savory & Partners<\/span><\/i><\/a> as your trusted agent, you will be supplied with a fully itemised quotation with no hidden costs.<\/span><\/i><\/p>\n

    \"Oia,

    Greece has reopened to many overseas visitors, jumping ahead of most of its European neighbours in restarting tourism.<\/p><\/div>\n

    Benefits of Greek Residency by Investment<\/b><\/em><\/h3>\n