A minimum investment of €250,000 in real estate (residential or commercial) in Greece is required for PR, making the Greek programme the lowest investment level of any real estate residency visa scheme in Europe.
Any number of properties can combine to make up the €250,000 investment.
A clear criminal record and medical insurance to cover any stay in Greece is essential.
However there is no minimum stay requirement.
The can be renewed every five years providing the investment is maintained.
In addition to relevant Government & legal fees there is VAT of 24% to pay in Greece on new property purchases.
Children under 18 are qualified While children 18 and over may qualify if studying and dependent.
The Greek residency program was recently extended to the parents of both investor and spouse.
Rental income from property in Greece is taxed at rates, 15% for the first €12,000, 35% between €12,000 – €35,000, and 45% thereafter. Certain expenses are deductible from the gross income. Capital gains tax (CGT) is charged at 15% on property sales.