Why Greece

Greece is a fantastic destination which offers everything from a historical capital, Athens, to beautiful beaches and islands, historic monuments and delicious Mediterranean cuisine. Greece has something exceptional to offer to every traveller looking to discover this wonderful and unique country.

Population of 11 Million
Official language is Modern Greek
Warm and friendly hospitality
The longest coastline in Europe
Agricultural country
Tourism & Shipping contribute the most in the Greek Economy
Political regime of Parliamentary Republic
Mountain and forest scenery
More than 200 inhabited Islands
Advanced telecommunication network
Highly developed infrastructure
Mediterranean Cuisine and Lifestyle

The Golden Visa Program

The golden visa program in Greece offers an affordable real estate investment route to permanent residency in Europe. Following the launch of several European investment visa programmes it was introduced by the Greek government in 2013 to encourage and attract foreign investors.

The application process takes up to two (2) months from the time of investment until the Residency Permit is issued. The applicant needs to have made the property investment in Greece prior to applying for the visa. Once a property has been selected through our DRE website, our professional team will guide you through the next steps required. It is advised to have your lawyer to take care of all the legal paperwork for your property.

In addition to the real estate investment applicants will need a clear criminal record and medical insurance to cover any stay in Greece. There is no minimum stay requirement and the residency visa can be renewed after five (5) years providing the investment is maintained.

An investment of €250,000 is required in real estate in Greece making the Greek programme the lowest investment level of any real estate residency visa scheme in Europe. The property, which can be located anywhere on the Greek mainland or the islands, can be either residential or commercial. Any number of properties can combine to make up the €250,000 minimum investment. Joint buyers can combine investments into one property.

Frequently Asked Questions

1. Is buying property in Greece a good investment?

Yes. With its countless islands, rich countryside, beautiful beaches and mountains, Greece offers a unique opportunity for investment, as the economic crisis led to a drop-in prices by 40% in real estate. It also offers a wide range of property, from local city apartments to beach or island villas capable to satisfy every desire.

2. Can foreigners buy property in Greece?

Yes. With the effects of the crisis still present, those best placed to invest in property are often foreigners. The Greek government has allowed non-EU citizens to buy residents and grant them permits of the so called “Golden Visa Scheme”.

3. What’s the approximate cost of different properties in Greece?

The cost of property in Greece depends largely on the type of property you are looking for and where you’re looking to buy.

4. What kind of taxes and fees will I need to pay?

Buying property in Greece requires a total sum of your budget including taxes and different other fees. Government, notary and lawyer fees for the property purchase and visa application will approximately amount to €15,000. In addition, there is VAT of 24% to pay in Greece on new property purchases.

5. Do I have to pay annual property taxes?

Yes. Now its obligatory for all owners. Property tax is based on your tax declaration and that must be paid when paid either at once or in equal portions for the 5 months. Please be advised from your accountant or lawyer regarding your tax.

6. Do I need a Greek bank?

Yes. All required payments associated with your purchase of property will be made through a Greek bank account. This account will help prove that your funds used for the property have come into Greece from another country and are therefore not taxable in Greece. Opening the bank account is a simple process. All you need is your ID/passport, your AFM and a bill to proof your address.

7. Can I purchase property in somebody else’s name?

Yes. You may purchase property jointly with your spouse and/or other co-purchasers, in names of children or legal heirs, or in the name of a company.

8. What happens if I change my mind?

If you have signed a contract and paid a deposit for a property, this is considered to be an official intent to purchase. It is important that you are absolutely certain that this is the property you want, and that you feel you are under no pressure to sign a contract and pay a deposit. Should you decide to withdraw from the purchase, you will lose your deposit.