Greece Citizenship by Investment

David Davies

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December 1, 2024

Greece is a European country with a high quality of life, a stable economy, a robust healthcare system and low crime rates. These factors, along with Greek citizenship allowing the holder the freedom to live, work and travel throughout the EU with visa-free or visa-on-arrival access to approximately 190 countries, make Greece an attractive location for citizenship.

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Example H3

Does Greece Offer Citizenship by Investment?

The simple answer is no. What Greece offers is a golden visa programme which allows for permanent residency in Greece. Citizenship cannot be obtained by investment alone but by naturalisation after a residence period of between five and seven years.

The permanent residence comes with the following main benefits:

Visa-free travel within Europe’s Schengen area
No requirement to reside or spend any time in Greece or to visit Greece in person
Availability of similar benefits to family members

What is the level of investment required?

There are several alternative investment options for obtaining a Greek golden visa, as follows. These need to be maintained for the golden visa to be renewed.

Real Estate Investment

A minimum of EUR250,000: if the investment is for the conversion of commercial property to residential property or the restoration of registered buildings

A minimum EUR400,000: if the investment is in rural or less densely populated areas, subject to the investment being in a single property of at least 120 square metres

A minimum of EUR800,000: if the investment property is in Athens, Thessaloniki, or an island with more than 3,100 inhabitants

Other Investment Options

A lease of at least 10 years of hotel accommodation or furnished tourist residences with a value of either EUR400,000 or EUR800,000, depending upon the region.
The purchase of at least EUR500,000 of Greek government bonds with a maturity of at least three years
The purchase of shares, corporate bonds or Greek government bonds traded on the Greek markets with a value of at least EUR 800,000
Investment of at least EUR 350,000 in an investment fund that invests in Greek equities, corporate bonds or government bonds
The deposit of at least EUR 500,000 into a fixed-term deposit with a Greek credit institution

How long does the process take?

The process typically takes around six months, although this would not include the time researching and determining the most appropriate investment option.

Can family members also obtain a golden visa?

Yes, the permanent residence status can also be granted to the applicants married spouse, children under the age of 21 and the parents of the applicant and their married spouse.

How long is the golden visa issued for?

The Greek golden visa has an initial validity period of five years. This period may be extended, provided the investment criteria continue to be met.

How is citizenship in Greece obtained?

Obtaining citizenship of Greece is not related to the golden visa programme, other than as part of compliance with the required residency periods. Applicants can obtain citizenship of Greece through what can be considered standard paths such as birth, descent, and marriage and also by naturalisation.

The main criteria for citizenship by naturalisation are as follows:

Proof of Greek residency. The period required ranges from five to ten years, depending on personal circumstances. Holding a golden visa for seven years meets this requirement
Greek language proficiency, typically proved by the passing of language exams
Knowledge of Greek history and culture, requiring proof of such knowledge through certification
Clean criminal record

As such, citizenship by naturalisation is only available in practice to those who commit to a life in Greece.

Is Dual Citizenship Allowed in Greece?

Yes, Greece allows dual citizenship (and does not explicitly prohibit having any number of citizenships).

Caribbean Citizenship by Investment as the Best Alternative

As you can see from the above, obtaining citizenship in Greece is a long process and requires a real commitment to being resident in Greece and learning the language and the culture. In comparison, the Caribbean citizenship by investment countries, such as Saint Lucia, offer a faster and more certain alternative with a lower level of commitment from the applicant and, in almost all cases, a lower financial commitment. For details of these CBI programmes, click here.

Final Thoughts

Greece’s golden visa programme is worth considering if you do not require full citizenship (at least for a long time) as it brings visa-free travel to the European Schengen area and right to live (although not work) in the country. Full citizenship of Greece requires a real commitment to the country, demonstrated by the language and cultural understanding requirements. If you want to live in Greece, the various routes are worth considering but for investors looking for a passport for global mobility, wealth and tax planning and a speedy process, it is unlikely that Greece is the right option for you.

FAQs

What types of investment qualify for the Greek golden visa programme?

Broadly investments in real estate or investments in government bonds or Greek stocks.

How much do I have to invest to obtain a Greek golden visa?

The required amount ranges from EUR 250,000 to EUR 800,000 depending on the type of investment and, in the case of real estate, its location.

How long does it take to process an application for a Greek golden visa?

Typically the process takes around six months.

How long does it take to obtain citizenship of Greece?

Between five and ten years.

What documents are required to apply for a Greek golden visa?

Alongside proof of the investment, documents required include: passport and proof of health insurance and clean criminal record.

Can family members be included in the application for a Greek golden visa?

Yes, the married spouse, children under the age of 21 the parents of both spouses can be included in the application.

Are there any residency requirements for applicants for a Greek golden visa?

There are no residency requirements for applicants for a golden visa and, since 2021, applicants do not need to visit Greece to complete the application process.

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David Davies

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David Davies

Antigua and Barbuda enjoys a tropical maritime climate, characterised by warm temperatures year-round, with an average of 27°C (81°F). The islands have a relatively dry season from January to April, with a wetter season from May to November. The islands have robust infrastructure and emergency systems in place to manage such events.

Originally inhabited by the Arawak and Carib peoples, the islands were colonised by the British in the 17th century. The cultural landscape is a blend of African, British, and indigenous influences. This rich history is reflected in local music, dance, and festivals, with calypso, reggae, and steelpan music being particularly popular. Cricket, a legacy of British rule, is the most popular sport, and sailing is also popular, reflecting the islands' strong maritime culture.

Antigua and Barbuda boasts 365 beaches, one for each day of the year, along with coral reefs, lagoons, and lush vegetation. The country’s landscape is primarily flat, with rolling hills and volcanic rock formations. The islands are also home to rich biodiversity, making them a haven for nature lovers.

Antigua and Barbuda have a stable democratic government based on the British parliamentary system. The country is generally regarded as having a manageable level of bureaucracy, with a reasonably straightforward process for interacting with government agencies. Retirees will find that essential services like renewing a driver’s licence, paying taxes, or obtaining necessary permits are relatively simple, although some processes can be slow due to limited resources. The government has been making strides in digitising services to reduce in-person visits and streamline processes.

Antigua and Barbuda is known for its lively events and festivals, particularly Carnival, one of the year's most anticipated events. Antigua Sailing Week is another major event, attracting sailors and spectators from around the world. These festivals are deeply rooted in the local culture and provide a vibrant social scene for retirees.

Dominica has a tropical rainforest climate, with high humidity and heavy rainfall, particularly on the windward side of the island. Temperatures are warm year-round, averaging 26°C (79°F), with cooler conditions in themountainous interior. The island’s lush greenery is a result of its abundantrainfall.

Dominica's culture is a vibrant mix of indigenous Kalinago heritage, African traditions, and European colonial influences, particularly French and British. The island was originally settled by the Kalinago people, and their influence is still present today, especially in the Kalinago Territory. African traditions have also left a profound mark, particularly in the island’s music, dance, and festivals. Dominica’s outdoor sports are heavily influenced by its rugged terrain, with hiking and diving being popular among locals and expatriates alike, although there is of course cricket for those with more sedentary dispositions.

Known as the "NatureIsland," Dominica is characterised by its rugged terrain, rainforests ,waterfalls, and geothermal activity. The island is home to the UNESCO-listed Morne Trois Pitons National Park, as well as numerous rivers and lakes. Dominica’s unspoiled natural beauty is a major draw for retirees who appreciate ecotourism and outdoor adventures.

Dominica’s government operates under a parliamentary democracy, with a legal system rooted in English common law. While the country’s bureaucracy is smaller and more accessible, some processes can be slow, particularly in rural areas. However, the government is generally cooperative and accommodating, particularly for expatriates. It’s advisable to have local assistance or a legal advisor to navigate more complex processes, such as property transactions or dealing with land registries.

Dominica hosts several unique cultural events, including the World Creole Music Festival and Carnival. The island’s festivals are deeply connected to its Creole heritage, offering retirees a chance to immerse themselves in local traditions and music. Dominica’s Independence celebrations also feature traditional dances, music, and cuisine.

Grenada has a tropical climate with relatively consistent temperatures throughout the year, averaging around 28°C (82°F). The dry season runs from January to May, while the wet season is from June to December. Although Grenada is located on the southern edge of the hurricane belt and is less impacted the another Caribbean islands, it is not immune to these storms as has been seen recently with Hurricane Beryl. The island has since improved its hurricane preparedness and infrastructure resilience and the value of these improvements has led to greater preparedness for such events.

The island was originally inhabited by the Arawak and Carib peoples before being colonised by Europeans. Grenadian culture is characterised by a strong sense of community, vibrant music, and dance traditions, such as calypso and soca. French influence on the island is evident in its place names and culinary traditions. Cricket and football are the most popular sports, and sailing and water sports are also widely enjoyed.

Known as the "SpiceIsle," Grenada is famous for its aromatic plantations, waterfalls, and pristine beaches. The island’s volcanic origin provides a diverse landscape of mountains, rainforests, and coastal areas. Grenada’s natural beauty is complemented by its extensive marine life, making it ideal for snorkelling and diving.

Grenada also follows a British-style parliamentary democracy. The country’s bureaucracy is relatively user-friendly, with many government processes being straightforward and accessible. Retirees generally find it easy to interact with government departments for routine tasks such as registering a vehicle, renewing licences, or paying taxes.

Grenada’s Spicemas Carnival is the island’s most significant cultural event, celebrated with colourful parades, music, and dance. The island also hosts the Grenada Sailing Festival and the Pure Grenada Music Festival, both of which attract international visitors. These events provide a lively social calendar for retirees.

Saint Kitts and Nevis has a tropical climate, with temperatures ranging between 24°C (75°F) and 31°C (88°F) throughout the year. The islands have a dry season from December to April and a wet season from May to November. Located within the hurricane belt, Saint Kitts and Nevis is vulnerable to hurricanes, especially between June and November, but the islands have strong building codes and disaster response plans in place to reduce the impact of the senatural events.

The cultural heritage of Saint Kitts and Nevis is shaped by its history of indigenous Carib and Arawak inhabitants and European colonisation. Saint Kitts was the first Caribbean island to be colonised by the British, and Nevis has a rich history as a major sugar producer. The islands' cultural roots are a blend of African, British, and French influences, reflected in the local cuisine, music, and festivals. Cricket and football are deeply ingrained in the local culture and, along with sailing and hiking, are integral to the islands' cultural life.

The twin islands of Saint Kitts and Nevis are known for their volcanic mountains, rainforests, and beaches. The islands are home to the UNESCO World Heritage site of Brimstone Hill Fortress and offer stunning views from places like Mount Liamuiga. The islands’ natural beauty is one of their strongest appeals to retirees.

Saint Kitts and Nevis operates under a stable parliamentary democracy, with governance structures similar to those of other Commonwealth countries. The islands have a relatively low level of bureaucracy, and dealing with the government on a day-to-day basis is generally straightforward. Most routine administrative tasks, such as obtaining permits, paying taxes, or registering property, are manageable, although some processes can take longer than expected due to limited staffing. The government is trying to modernise its operations, including digitising more services, which should help reduce delays and improve overall efficiency.

The islands of Saint Kitts and Nevis host several vibrant festivals, including Carnival, the Saint Kitts Music Festival, and Culturama, which is unique to Nevis. These events celebrate local culture, music, and heritage, offering retirees plenty of opportunities to engage with the community and enjoy local traditions.

Saint Lucia enjoys a tropical climate with warm temperatures year-round, typically ranging from 25°C (77°F) to 30°C (86°F). The dry season extends from December to May, while the wet season is from June to November. Saint Lucia is situated near the edge of the hurricane belt, making it prone to hurricanes and tropical storms but less so than those further north. The government has invested in improving hurricane preparedness and infrastructure resilience to protect the island from future storms better.

Saint Lucia's culture is a unique blend of African, French, and British influences, reflecting its complex history of colonisation. The island was originally inhabited by the Arawak and later the Carib people, before being contested by the French and British for centuries. The French influence is particularly strong in the island's Creole language, cuisine, and Catholic traditions, while British colonial rule has left its mark on the legal system and sports, particularly cricket. The island’s dramatic landscapes, including the iconic Pitons, provide a stunning backdrop for outdoor sports like hiking and diving, which are popular among locals and retirees alike.

Saint Lucia is famous for its dramatic Pitons, volcanic peaks that rise sharply from the sea. The island’s landscape includes rainforests, beaches, andSulphur Springs, the Caribbean’s only drive-in volcano. Saint Lucia’s natural beauty is among the most striking in the Caribbean, attracting retirees who enjoy outdoor activities and scenic views.

Saint Lucia’s government is a parliamentary democracy, and the country has a reputation for a relatively efficient bureaucracy compared to other Caribbean nations. For retirees, dealing with the government is typically hassle-free for most day-to-day tasks like renewing a driver’s licence, paying taxes, or obtaining residency permits. Saint Lucia has been proactive in improving its e-government services, allowing for easier access to information and quicker processing of certain requests online.

Saint Lucia is famous for its Jazz and Arts Festival, which attracts international artists and music lovers. The island’s Carnival is another major event, featuring parades, music, and dancing. Additionally, the La Rose and La Marguerite festivals celebrate the island’s unique cultural heritage, offering retirees a rich cultural experience.

Greece Citizenship by Investment

Does Greece Offer Citizenship by Investment?

What is the level of investment required?

How long does the process take?

Can family members also obtain a golden visa?

How long is the golden visa issued for?

How is citizenship in Greece obtained?

Is Dual Citizenship Allowed in Greece?

Caribbean Citizenship by Investment as the Best Alternative

Final Thoughts

FAQs

What types of investment qualify for the Greek golden visa programme?

How much do I have to invest to obtain a Greek golden visa?

How long does it take to process an application for a Greek golden visa?

How long does it take to obtain citizenship of Greece?

What documents are required to apply for a Greek golden visa?

Can family members be included in the application for a Greek golden visa?

Are there any residency requirements for applicants for a Greek golden visa?

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