7 Reasons to Invest in the Greek Golden Visa Program in 2023-2024
The Greek Golden Visa program, which offers the opportunity to obtain residency in Greece through specific investments, is becoming an increasingly attractive choice for many investors. In this article, we will explore seven key reasons why investing in the Greek Golden Visa in 2023-2024 can be a profitable and reasonable step.
Accessibility of Investments:
One of the key attractive features of the Greek Golden Visa is the accessibility of investments. To obtain it, you only need to invest as little as €250,000. Compared to other Schengen countries like Spain or Portugal, where the minimum investments are €500,000, Greece becomes more attractive to potential investors. The economic barrier to entry is significantly lower, allowing you to start the Golden Visa process more quickly.
Greece offers favourable tax conditions for investors. According to data from the Bank of Greece, the property prices in urban areas of the country increased by 11.32% in one year up to the third quarter of 2022. Additionally, the Capital Gains Tax (CGT) on real estate transactions is only 15%. This creates an attractive environment for investors looking to invest in real estate and generate profits.
Forecasts indicate that Greece’s economy is on the path to growth. It is projected that the country’s real GDP will increase by 1.2% in 2023 and up to 2.2% in 2024. Furthermore, Greece remains a popular tourist destination, attracting millions of visitors annually. This creates excellent opportunities for investors and Golden Visa holders who decide to invest in real estate for rental income, providing a stable source of earnings.
Visa-Free Entry to the Schengen Zone:
An additional advantage of the Greek Golden Visa is visa-free access to the Schengen Zone countries. Moreover, applicants have the option to include their spouse, parents, and unmarried children up to 21 years old in their application.
Fast Application Processing:
Greece has streamlined its “Golden Visa” program to expedite application processing, reducing processing times by approximately 2 months. Document submission can be proceeded through a lawyer, reducing the need for the applicant’s physical presence. To obtain residency, each applicant will only need to visit Greece once to provide biometric data. This significantly simplifies the Golden Visa application process.
Freedom from the Requirement of Permanent Residency:
One of the advantages of the Greek Golden Visa is that investors are not obligated to reside permanently in Greece. Unlike some other countries like Spain or Portugal, where investors are required to spend a certain number of days in the country (e.g., at least a week), Greece does not have such a requirement.
No Restrictions on Property Type:
Another advantage of the Greek Golden Visa is the absence of restrictions on the type of real estate that can be acquired through investments. Investors have the freedom to choose between properties in tourist centres or on remote islands. This provides investors with a wide range of opportunities to invest according to their preferences and strategy. Thanks to this flexibility, investors can select optimal real estate assets that align with their goals and needs.
In conclusion, the Greek Golden Visa represents an attractive opportunity for investors looking to obtain residency in the Schengen Zone and invest in a steadily growing economy. With accessible investments, tax benefits, rental business prospects, and a fast application processing time, it can become the perfect choice for those seeking new investment opportunities in the world.