'Portugal loses, Greece gains from Golden Passport visa'.

Investing in residential real estate will no longer get you a long term residency permit in this country.

The loss of Portugal, however, is a gain for Greece. Greece continues to offer a renewable 5-year "golden visa" for approved real estate investments starting at €250,000. And it is becoming increasingly popular.

Specialized services for obtaining a Greek "golden visa "

As many attendees at our recent Ultimate Go-Overseas conference in Denver told me, however, it can be difficult to know where to start. I recently spoke with Eleanna Kavvadia of InGreece Consultancy about the specialized services available to people thinking about getting a Greek 'golden''visas'.

"Whether you start with a visa or real estate, all of these issues need to be coordinated when applying for a special visa," she told me. "Our company provides comprehensive services that help people find the right property, apply for a visa and then help them optimize their tax situation in Greece. "

Eleanna explained that InGreece is noticing an increase in the number of Americans and Canadians looking to buy Greek real estate and get a "golden visa." This helps drive up real estate prices in Corfu and Pax, their target market. This, in turn, makes real estate a potentially lucrative investment property and also a pathway to obtaining Greek residency.

'If''someone will contact us and say they are looking for a property that falls under the golden visa, we can put them in touch with a property that will offer the best solution for them. And because we have a lot of vacant land, we also have connections with developers who can create a new home for the applicant. And one of the most popular investments we are seeing is the restoration of older properties, especially interior properties," Eleanna told me.

The process of obtaining a Greek "golden visa" and other types of residency

I asked Eleanna if she sees an increase in the number of Greek "golden visa" applications due to the closure of the Portuguese program.

"Not yet. But prices for places like Corfu are still low compared to other''parts of Greece, such as Athens or the more popular Aegean Islands. So we are seeing a big increase in interest from people from all over the world," she said.

The immigration processes in Greece are said to be the most transparent in Europe. The country has a well-designed web portal that allows people to see exactly what is needed. But that doesn't mean you should try to manage on your own.

"It's important to have someone on the ground to help guide the process," Eleanna said. "Local knowledge can be helpful in all kinds of issues, such as translation or knowing the right type of document to fulfill a specific due diligence requirement," she told me. "This is especially true when you are pursuing''invest in real estate and get a 'golden visa' at the same time. We can coordinate both processes so that everything goes smoothly the first time.

Of course, the 'golden visa' is only one way to get residency in Greece. The country has also launched a digital nomadic visa at the end of 2021. It is available to non-European Union citizens who earn at least €3,500 per month after tax from sources outside Greece. It is valid for one year and can be renewed. There is also a two-year permit which can also be renewed. Digital Nomads are not subject to taxation in Greece. There is also a residence permit for financially independent persons, requiring''minimum monthly income of €2,000 per month. It is valid for two years and can be renewed.

"The process in both cases is deceptively simple," Eleanna said. - But it can be a bit complicated because you have to apply from outside Greece. You need to provide things like proof of residency and Schengen-approved insurance, which many applicants don't know how to obtain abroad. And it's important to understand the physical presence requirements, because if you don't spend at least six months a year in Greece, you may not be able to renew your residence permit. "

When you are in Greece, you also get the right to travel throughout the European Union. InGreece can also help with such''issues like getting an EU residence permit and a medical card, which makes the process easier.

As I said, Eleanna and her colleagues at InGreece are noticing a big increase in interest in all these programs to get a Greek residency permit. If Greece is on your priority list, you can contact them through the following communication channels:

• +30 2661 200 244
• [email protected]
• https://ingreececonsultancy.com/

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