The “Golden Visa” within the framework of investment programs for residents of Greece and Spain has become more available and advantageous. In many respects, thanks to amendments in terms of obtaining residence permit and the opportunities that the holders of “golden visas” receive. The programs for obtaining a residence permit in Greece and in Spain do not differ significantly. However, the scheme of obtaining it and the advantages of the holder of the document with the right of long residence in the country are transparent and obvious.
The program for obtaining a “Golden Visa” (residence permit) in Greece is valid from 2013. It is issued to any foreign citizens on condition that they purchase residential or commercial real estate worth at least € 250, 000.
Since 2013, the investment program allows you to get a residence permit for living in Spain, subject to the acquisition of residential and commercial real estate or land at a cost of not less than € 500,000. If the transaction price is higher than this amount, the remaining part can be registered in a mortgage.
For a stay in Greece, a visa is issued for a period of 5 years with the possibility of renewal after the expiration of the time. When registering citizenship (after 10 years of legal residence in the country) it will be necessarily taken into account in favor of the visa holder.
Resident visa for residence in Spain is issued for 2 years. Further it is prolonged for 5 years if conditions of registration of the visa are kept. If there is no need to extend your residence permit, you can apply for permanent residence in the same 5 years.
In addition to the spouse and minor children of the owner of real estate in Greece, it became possible to obtain a “GoldenVisa” and the parents of both spouses. Holders of “golden visas” can get higher education in Greek universities, free emergency medical care, make up movable property, driver’s license, car number and freely move around Europe. “The Golden Visa” does not limit the period of stay in the country, but does not entitle you to work.
The owner of the Spanish “Golden Visa”, without leaving the country, can issue a residence permit for close relatives: a spouse, minor children, as well as a civil partner, children over 21 years of age who are on maintenance, and parents. A criminal record is not requested. The “Golden Visa” gives the resident the right to stay in Spain indefinitely, to work, to travel around the countries of the European Union and to receive education in secondary and higher educational institutions.
Where and what to buy
To obtain a “Golden Visa” in Greece, foreign investors acquire real estate both in the motherland and in the island part of the country: in Athens and Thessaloniki, in Corfu, Crete, Rhodes and the Chalkidiki Peninsula.
The future residents of Spain, in general, buy real estate on the coast: in Valencia, Murcia, Andalusia, Asturias, Catalonia, the Canary Islands and the Balearic Islands.
*To obtain a Cyprus “Golden Visa” the transaction price must be at least € 300,000. The validity of the residence permit is 1 year. In order not to lose the status of a resident, you are not allowed to leave the island for more than 3 months. Otherwise, you will have to process the documents again. Spouse / ha and children of the owner of real estate are also entitled to a residence permit. Limassol and Paphos are the most popular cities where foreigners purchase real estate.