If you are a third-country citizen and wish to live in Greece for the next five years, you must apply for a residence permit. This permit allows you to live in Greece and work without a visa. Once you have received this permit, you can travel freely within the Schengen zone. If you are considering a Greece residency, here are some requirements you must fulfill.
Documents required for Greece residency by investment:
Before applying for a Greece residency by investment, you must submit certain documents:
You must provide proof of income.
You must certify that you own transferable securities, such as shares or bonds.
You must invest at least EUR250, 000.
If you own real estate in Greece, you must submit a copy of your brokerage assignment with a real estate agency.
Moreover, you will need to provide many documents to apply for a residency permit in Greece. All these documents must be certified and notarized. Moreover, they must be translated into Greece. A Greece lawyer or the Greece Ministry of Foreign Affairs translation service can help you with this. Besides, you may be required to provide other documents related to your investments or family ties.
Double taxation treaty:
If you are planning to invest in Greece and want to stay there permanently, there are a few things you need to know. First of all, you must be a resident of the country, and you should have a double taxation treaty. Moreover, you should know the new tax laws governing residency by investment. The new tax laws will affect your income and the country’s taxes.
The United States and Greece have an existing tax treaty signed nearly 75 years ago. As a result, many US taxpayers are originally from Greece and are generating income in Greece. This tax treaty is useful in determining how much you will have to pay.
You can invest in a single property:
Residency in Greece is possible for non-EU citizens with a valid investment permit. This residency is transferable and offers several benefits. In addition, the minimum investment amount for this program is the lowest in Europe. You can invest in a single property or a portfolio of several properties. Your investment can be residential or commercial.
A residency by investment program in Greece allows non-EU investors to travel visa-free within the Schengen Area, a network of 26 European countries. As a resident of Greece, you will enjoy visa-free travel within the Schengen Zone for up to three months a year from your home country. Additionally, you will have multiple entry rights and can visit any Schengen country anytime.