Golden Visa Information for Greece
The Golden Visa initiative was launched in Greece in 2013 and entitles people that invest 250,000 Euros to a 5 year residency including children up to the age of 18 and parents of the investor and spouse. There is no requirement to live in the country to renew the visa and, provided the property is still owned, it can be renewed every 5 years. In order to gain citizenship however you must have been a resident for 7 years. Whilst all potential buyers must pay the mandatory 24% tax on property, it is still the lowest cash requirement of any of these schemes.
Once the Golden visa application has been accepted it will take approximately 40 days from time of investment for a residency card to be issued, making the entire process quick and easy, allowing quick access to Schengen countries.
In order to qualify for the scheme you must apply for the scheme after you have invested and have both medical insurance and a clean criminal record, the residency permit entitles people to live but not to work in Greece.
There is a 24% VAT charge for any new property purchases in Greece
Any income made in Greece will be taxed but money made outside of Greece will not be.
Income tax starts at 22% rental tax is between 11% and 33% and capital gains tax on the sale of any property is 15%
Why buy in Greece
Real Estate in Greece is currently a sound investment. In 2017 the country’s economy grew and property investment in Greece has been growing by 85% annually meaning confidence in the property market is very high and growing with most experts agreeing that property prices are set to rise. With tourism being reported at 30 million visitors a year there is huge rental potential in Greece.
Our base is in Edinburgh, UK and we are established in the international real estate business and specialise in assisting people to purchase property in Portugal, Turkey, Spain and Greece. We pride ourselves on our transparent practices and always put the needs of the customer first. The advice that we give you will never be driven by profit. We will guide you, every step of the way, through the purchase process and we can give the assurance that our recommended professionals (builders, Lawyers, etc) are all of the highest calibre with qualifications, experience and reputation that stands up to scrutiny.
We have an excellent after sales service and ensure we are there for our customers even after their purchase has been completed. Our professional local teams in the various areas we cover will assist you to navigate the process locally; no question is too frivolous for us to answer. We look forward to helping you achieve your dream home.
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