4/17/2025
Greece’s Golden Visa program has seen a marked rise from American investors in 2024, making Greece a popular choice for US citizens and expatriates. According to Greece’s Ministry of Immigration and Asylum, by August 2024, the country had issued 353 residency permits to American nationals. This amount showed a notable 47% increase from the same time in 2023.
Immigration is a fundamental aspect of the human experience, motivated by the quest for better opportunities, security, and an enhanced quality of life. Throughout history, people have moved in search of new beginnings. Now, programs like Greece’s Golden Visa offer a structured and accessible pathway for individuals seeking to start a new in Europe.
1)Rising Living Costs & Expensive Housing: Many seek more affordable places to live outside the U.S.
2)High Medical Expenses: High healthcare costs force individuals into seeking better and more affordable options in other countries.
3)Political & Social Tensions: Some individuals decide to leave the country due to internal divisions or a sense of dissatisfaction with the system.
4)Retirement Plan : Reduced costs and tax benefits make retiring abroad more attractive.
5)Desire for New Experiences: Many people move to explore diverse cultures, lifestyles, and opportunities.
6)Citizenship route: Naturalization is possible for Golden Visa holders under specific requirements
7)Back to routes: Many Americans of Greek heritage use the Golden Visa to relocate to Greece and to reconnect with their motherland
8)LGBTQ-Friendly Policies: Greece is increasingly inclusive, offering equal access and recognition for LGBTQ investors and their families
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1)Can Americans apply for the Golden Visa? Yes, US. Citizens are fully eligible to apply for Golden Visa
2)Can you start the process remotely? Yes, you can complete up to 90% of the process remotely by granting power of attorney. This can be done either at your local Greek Embassy or through a certified Notary Public in your state.
3)What is the timeline of the process? The timeline largely depends on the type and status of the property you choose. On average, the Golden Visa process can take 6 to 8 months. However, for properties with more complex legal checks, the process may extend to 10 to 12 months.
4)Do I need to live in the country to keep the visa? No, residency is not required to maintain your Golden Visa. One of its key advantages is the no minimum stay requirement.
5)Does the Golden Visa lead to citizenship? Greece’s permanent residency can lead to citizenship after seven years, subject to certain conditions, such as physical presence for 183 days per year for 7 years (main investor) and language proficiency.
6)Can I rent my unit? Yes, you can still rent your property long-term. However, as of September 2024, Airbnb-style short-term rentals are not allowed for new Golden Visa holders. While these types of rentals are not grandfathered in, there is still an opportunity to rent your property alternatively, subject to certain conditions and regulations.
7)Do I have to become a tax resident in Greece? No, obtaining a tax number for your investment does not automatically make you a tax resident. You are only considered a tax resident of Greece if you spend more than 183 days per year in the country
8)What taxes do I have to pay in Greece as a Golden Visa holder and property owner if I do not live in Greece? As a Golden Visa holder and property owner in Greece, you will be subject to:
9)Do I pay taxes in the U.S. as well? As a U.S. citizen or resident, you are generally required to report and pay taxes on your worldwide income. However, Greece has a double taxation treaty with the U.S. that helps prevent you from being taxed twice on the same income. Each case must be examined individually.
10)Can I add my elderly parents? Yes, the Golden Visa allows you to include your parents (as well as your spouse, children up to 21, and parents-in-law) in your application. For children, there is an extension option up to 24 years old
11)Are LGBTQ investors and families eligible? Greece is becoming more inclusive by offering equal access for LGBTQ investors and their partners. Greece now accepts same-sex marriage certificates, and an alternative route remains a Greek cohabitation agreement.
12)Can my children go to Greek schools? As a Golden Visa holder, your children are eligible to attend public schools in Greece. Younger children typically find it easier to integrate as they adapt quickly to the local language and culture. However, older children may face language requirements since lessons are primarily conducted in Greek. You might want to consider providing language support or exploring private schools for older children who are not yet fluent in Greek.
*Source: Greek Golden Visa Gains US Interest | Varnavas Law | Golden Visa Greece*