Overview of Citizenship by Investment in Greece

Greece does not have a direct citizenship by investment program like some other countries. However, the Greece Golden Visa program allows non-EU citizens to obtain residency through investment, which can eventually lead to citizenship after fulfilling certain conditions. This pathway is particularly attractive for investors looking to gain access to the European Union.

Golden Visa Program Details

The Greece Golden Visa program was launched in 2013 and provides a residence permit in exchange for a minimum investment of €250,000 in real estate. This investment can be made in residential properties or commercial properties converted into residential use. The program is designed to attract foreign investment and stimulate the Greek economy.

Eligibility Criteria for the Golden Visa

To qualify for the Golden Visa, applicants must meet several criteria:

• Non-EU/EEA Citizenship: Applicants must be citizens of countries outside the European Union or European Economic Area.
• Age Requirement: Applicants must be at least 18 years old.
• Clean Criminal Record: A clean criminal record is required, ensuring that applicants do not pose a security risk.
• Medical Insurance: Applicants must have valid medical insurance covering themselves and their family members.
• Financial Stability: Proof of financial stability may be required to ensure that applicants can support themselves while residing in Greece.

Benefits of the Golden Visa Program

The Golden Visa offers numerous benefits:

• Residency Rights: Holders can live in Greece without any minimum stay requirement.
• Visa-Free Travel: The residence permit allows visa-free travel within the Schengen Zone, which includes 26 European countries.
• Family Inclusion: Investors can include their spouse and children under 21 in their application, as well as parents and parents-in-law under certain conditions.
• Access to Public Services: Residents benefit from public healthcare and education systems in Greece.

Pathway to Citizenship

While the Golden Visa grants residency, it does not automatically confer citizenship. To apply for Greek citizenship, holders of a Golden Visa must meet specific requirements:

• Residency Duration: Applicants typically need to reside in Greece for at least seven years before applying for citizenship.
• Language Proficiency: Knowledge of the Greek language is essential; applicants must demonstrate proficiency through an official test.
• Civic Integration: Applicants should show integration into Greek society, including understanding Greek culture and values.
• Financial Independence: Proof of financial independence is necessary, demonstrating that applicants can support themselves without relying on state assistance.

Once these requirements are met, individuals can apply for Greek citizenship through naturalization.

Conclusion

In summary, while Greece does not offer direct citizenship by investment, its Golden Visa program provides a viable route for investors seeking residency with potential pathways to citizenship after meeting specific criteria over time.