Greece Citizenship by Investment is a new law that will allow those who are domiciled in Greece and want to become a permanent resident of the country to undertake an investment. There are a few stipulations that need to be met, and this article explains exactly what you need to know about applying for and obtaining your new residency status.
What are the Benefits of Becoming a Greek Citizen by Investment?
There are many benefits to becoming a Greek citizen by investment. As an investor in Greece, you will be able to take advantage of the country’s strong economy and stable political environment. Additionally, being a Greek citizen by investment allows you to live and work in Greece without having to meet residency requirements.
The main benefits of citizenship by investment in Greece include:
-Economic stability: The Greek economy has been relatively stable over the past few years, which has led to increased investment opportunities.
-Ease of living: Being a Greek citizen by investment means that you do not have to meet residency requirements. This makes living in Greece much easier, as you do not need to worry about getting a visa or obtaining permits from the government.
-Political stability: The political environment in Greece is stable, which is good news for investors. Political instability can lead to decreased economic activity and decreased value of assets on the market.
-Access to education and health care: As a Greek citizen by investment, you will have access to education and health care services without having to pay for them yourself. This is an important benefit, as it allows you to stay healthy and earn an income while still living in your home country.
The Costs of Greece Citizenship by Investment
The process of acquiring Greek citizenship by investment can be lengthy and difficult. The costs of the process will depend on a number of factors, including your nationality and the amount of money you are willing to invest.
To qualify for citizenship through investment, you must have at least €2 million in your own name or in the names of your family members. You must also have lived in Greece for five years continuously or four years consecutively within the past 10 years. Additionally, you must pass a language test and demonstrate knowledge of Greek history and culture.
The cost of citizenship through investment is significantly higher than regular citizenship. The average cost to receive citizenship through investment is €270,000, which includes both legal fees and taxes. In addition, you will need to pay an additional €1,500 per year in national insurance contributions while living in Greece.
There are a few potential benefits to gaining Greek citizenship through investment. First, as a citizen of Greece, you will be eligible to apply for many government benefits, such as healthcare and education. Second, as a resident of Greece for five years or more during the past ten years, you may be able to reduce your foreign residency time requirement for other countries. Finally, being a citizen of Greece may give you an edge when looking for work or conducting business in Greece or across the European Union.
The Process for Obtaining a Greek Passport
Step One: Determine if You Qualify
If you are a citizen of Greece and meet certain requirements, you may be able to apply for a Greek passport through the citizenship by investment program. There are several requirements that must be met in order to qualify for this program, including having an annual income of at least 200,000 euros or owning real estate worth at least 100,000 euros. Additionally, you must have been living in Greece for at least four years prior to applying, and you must have a clean criminal record. If any of these requirements do not suit your needs or interests, there are other ways to obtain a Greek passport without qualifying through the citizenship by investment program.
Step Two: Apply for Citizenship
To apply for citizenship through the citizenship by investment program, you must first visit one of the authorized offices located throughout Greece. At this office, you will submit an application form and provide supporting documentation. The process can take up to six months to complete, but it is possible to receive your passport as soon as three months after submitting your application.
Step Three: Possess Your Greek Passport
Once your application has been processed and your citizenship has been granted, you will need to acquire a Greek passport. You can do this either by visiting an authorized passport issuing authority or by mail. It is important to note that obtaining a Greek passport does not automatically grant you full legal rights and privileges as a citizen of Greece.
Greece has been in a state of economic crisis for quite some time now, and the situation is only going to get worse. This means that many people are looking for ways to invest money in Greece without having to worry about their investment being lost or confiscated. One way to do this is through acquiring Greek citizenship by investment. Here are the main points you need to know before making your decision: