Greek Amendments to Reduce Golden Visa Investment Risk, Demand Physical Presence for FIP-Visas
In practice, the changes enable investors to pay for the property from abroad, rather than by first opening a Greek bank account, without excess risk.
The Greek FIP visa grants third-country nationals who can demonstrate sufficient independent income a renewable residency visa.
After five years of temporary residency, the applicant is eligible for permanent residency in Greece and, after seven years (and subject to integration in Greece, which includes, among other elements, mastery of Greek), the applicant is eligible to apply for citizenship.
To retain their residency status, applicants must be physically present in Greece for at least half the year, thereby also becoming tax residents.
Program Type | Independent Means Visa |
Time to citizenship | 7 years |
Time to permanent residency | 5 years |
Minimum investment | None. Proof of EUR 2,000 monthly income |
Physical presence requirement | 183 days per year |
Application processing time | 2-3 months |
Citizenship grants visa-free travel to | 185 destinations, including Schengen countries |
Contribution types available | No investment required |
General program requirements
The main applicant must prove he has a guaranteed monthly income as demonstrated by bank account balances, dividends checks, retirement annuities, etc. The minimum incomes levels required are:
– €2,000 per month for the main applicant.
– €400 per month additional for a spouse.
– €300 per month additional for any other dependent.
Applicant and visa processing fees of €2,500 apply.
Program benefits
Requirements to qualify for citizenship
Applicants first obtain a special visa from the competent Greek embassy/consulate in the country of origin. The applicants should appear in person and be interviewed briefly in relation to the purpose of their application. The initial visa issued for 2 years and may be renewed for a 3-year residency.
After 5 continuous years of residency, the applicant may apply for permanent residency. After 7 years of continuous residency, the applicant is eligible to apply for Greek citizenship.
The applicant needs sufficient knowledge of the Greek language, Greek history, and Greek culture in general.
Legislation upon which this program is based:
Article 20 of Greek Immigration law 4251/2014
No statistics available yet for this program.
As the hub for investment migration professionals, IMI is regularly in touch with program specialists in every corner of the globe.
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In practice, the changes enable investors to pay for the property from abroad, rather than by first opening a Greek bank account, without excess risk.
Programs that offer citizenship within months in exchange for investments or donations, with minor/no physical presence requirements.
Programs that offer citizenship in exchange for investments following a 1-2 year period, with minor/no physical presence requirements.
Bulgaria Investor Program (discontinued)
Malta MEIN
Programs that offer residence permits within months in exchange for passive investments, with limited physical presence requirements.
Andorra Residence Without Lucrative Activity
Anguilla Permanent Residency Program
Australia BIIP Investor Streams
Bahamas Economic Permanent Residence
Barbados SERP Program
Bermuda Economic Investment Certificate (EIC) Program
Brazil Investor Visa (VIPER)
Cambodia My 2nd Home
Cayman Islands Investor Visa
Colombia Investor Visas M and R
Costa Rica Investor Visa
Curaçao Investor Permit Program
Cyprus Golden Visa
Georgia Investor Visas
Greece Golden Visa
Guernsey Investor & Entrepreneur Residency
Ireland Immigrant Investor Program (discontinued)
Italy Investor Visa
Latvia Investor Visa
Luxembourg Investor Visa
Malaysia M2H Visa
Malta Permanent Residence Program
Mauritius Permanent Residency Program
Monaco Carte de Séjour
Netherlands Investor Visa
New Zealand Investor Visa
Nicaragua Investor Permanent Residency Program
Panama Qualified Investor Visa
Philippines Special Investor Residence Permit
Portugal Golden Visa
Russia Investor Visa
South Korea Investor Visa
Spain Golden Visa
Taiwan Golden Visa (APRC Plum Blossom Card)
Thailand Elite Residence Program
UAE Golden Visa
UK Investor Visa (discontinued)
United States EB-5
Programs that offer residence permits within months to those who can demonstrate income or personal wealth above a certain level, usually requiring that the holder not take up employment locally.
Argentina Rentista and Pensionado Residency
Austria Independent Means Visa
Barbados Welcome Stamp
Gibraltar Category 2 HNWI Residence
Greece FIP Visa
Indonesia Retirement Visa (KITAS)
Ireland Independent Means (Stamp 0)
Italy Elective Residency Visa
Jersey High Value Residency
Mexico Legal Residency Visa
Nicaragua Pensionado and Rentista Visas
Panama Rentista Retirado Visa
Paraguay Permanent Residency Program
Portugal D7 Visa
Spain Non-Lucrative Visa
Uruguay Independent Means Visa
Programs that offer residence permits within months to those who physically relocate to start and/or run a business. Startup and entrepreneur visas fall under this category.
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