If Greece has always been your dream destination, the country is offering a Golden Visa that lets you live, work, and study there for the long term. And yes, Indians can apply too.
Greece has opened its doors to global investors through this scheme, which was officially introduced in 2013.
What Is Greece's Golden Visa
The Greece Golden Visa is a residence-by-investment program that allows non-EU citizens and their families to get a 5-year residence permit in Greece in exchange for an investment. Plus, it is renewable.
With the golden visa, you and your family can live, work, study, and do business in Greece, while also enjoying visa-free travel across the Schengen Zone without needing a separate visa.
Why It Matters
- You don't have to reside in Greece to maintain your Golden Visa residency, which can be a good option for Indians who want to have their main base back home.
- People with Greece Golden Visa can travel visa-free within the Schengen Zone for up to 90 days in any 180-day period.
- Your spouse and dependent children under the age of 21 are included in this scheme.
- Living in Greece for more than 7 years may open doors for you to apply for Greek citizenship.
- Golden Visa holders have access to public healthcare and education systems in Greece, just like other Greek nationals.
- Gives you business and lifestyle opportunities, offering a base in Europe with the cultural and geographical appeal of the Mediterranean.
What Are The Investment Options
You can make a real estate investment in any one of the following investment zones:
- EUR 500,000 (Rs 5,11,47,000 approx.) in specialised real estate investments in high-demand areas, including Athens, Santorini, and others.
- EUR 250,000 (Rs 2,55,73,500 approx.) in real estate investment, which can either be residential or commercial.
- EUR 400,000 (Rs 4,09,17,600 approx.) for properties in all other regions of Greece.
There are other investment options, including:
- A capital contribution of at least EUR 500,000 to a Greek company or a fixed-term deposit in a Greek bank.
- Purchase of at least EUR 500,000 in Greek government bonds or at least €800,000 in shares or corporate bonds traded on Greek markets.
- Investment of at least EUR 350,000 (Rs 3,58,02,900 approx.) in a mutual fund that invests exclusively in shares, bonds, or other financial instruments in Greece.
- A new, proposed option allows for a minimum investment of €250,000 in Greek startups.
The Application Process
Step 1: Select a qualifying investment and complete the transaction.
Step 2: Gather the required documents for the application.
Step 3: Submit the application with the Aliens and Immigration Department, often with the assistance of a lawyer.
Step 4: Pay the application fee, which is EUR 2000 (Rs 2,04,588 approx.) for the main applicant and EUR 150 (Rs 15,344 approx.) for each additional family member. You will have to pay an additional EUR 16 (Rs 1,636) for the residence permit card.
Step 5: Visit Greece to provide biometric data.
Step 6: Wait for approval, which usually takes 6-12 months.
Step 7: Once approved, the residence permit is issued.
Documents Required
- A valid passport
- Recent passport-sized photographs
- Proof of investment
- A health insurance for both the applicant and dependents
- A clean criminal record
- Proof of funds
- Marriage certificate if applying with a spouse
- Birth certificate for children
- Application form
Greece's Golden Visa may come at a hefty price, but it offers significant benefits, including direct long-term residency and a pathway to permanent residency and citizenship.