Greece’s Golden Visa Program Benefits from Portugal’s Loss

In recent news, it has been announced that residential property investment will no longer grant individuals a long-term residency permit in Portugal. However, this change in policy has opened up an opportunity for Greece, as it continues to offer a renewable 5-year golden visa for real estate investments as low as €250,000. This option is gaining popularity among investors.

For those interested in pursuing a Greek golden visa, specialized services are available through companies like InGreece Consultancy. They provide comprehensive assistance, from finding qualifying properties to applying for the visa and optimizing tax situations. Greece has observed an increase in interest from Americans and Canadians looking to invest in Greek property and obtain a golden visa. This surge in demand has contributed to rising property prices in areas like Corfu and Paxos.

One of the advantages of Greece’s immigration processes is their transparency, as the country has a well-designed web portal that outlines all the necessary requirements. However, it is still recommended to seek assistance from professionals familiar with the local regulations and processes. This local knowledge can help with issues such as translation and ensuring the right documentation is provided for due diligence purposes. Coordinating the property investment and golden visa applications is particularly important to ensure a smooth process.

Apart from the golden visa, there are other options for obtaining Greek residency. Greece recently introduced a digital nomad visa, available to non-European Union citizens who earn at least €3,500 per month from non-Greek sources. This visa is valid for one year and is renewable. Additionally, there is a residency permit for financially independent individuals, requiring a minimum monthly income of €2,000. This permit is valid for two years and is renewable.

While the application process for these residency programs may seem straightforward, there are certain complexities to consider. For example, applications must be made from outside Greece, and applicants must provide proof of accommodation and Schengen-approved health insurance. It is also crucial to understand the physical presence requirements, as spending at least six months in Greece annually is necessary for permit renewal.

Once an individual obtains Greek residency, they also gain travel rights throughout the European Union. InGreece can assist with acquiring EU residence and health cards, further facilitating the process.

In conclusion, Greece’s golden visa and other residency programs present attractive opportunities for individuals seeking to invest in real estate and establish residency in the country. With the closure of Portugal’s program, interest in Greece has been on the rise. Seek professional assistance, such as that provided by Greece Consultancy, is highly recommended to navigate the application process smoothly and ensure compliance with all requirements.

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