Does Greece Golden Visa Lead to Citizenship?
The short answer is Yes, Greece Golden Visa holders CAN obtain Greek citizenship
Greece Golden Visa Program offers the most affordable route to permanent residence permit in the EU. For this reason, the Greece’s program is one of the most popular golden visa programs among the investors. The applicants may consider the Greece Golden Visa Program an advantageous one because along with its relatively low required investment amount, it gives access to European Union and all of the benefits that come with it.
What Does Greece Golden Visa Offer?
Visa free travel within the Schengen area is one of the most the major advantages that attract the applicants. Moreover, Golden Visa holders have the right to benefit from the public services as if they are a Greek citizen. The Golden Visa applicants usually seek to enhance their global mobility and upgrade their residence permit to a second citizenship. There has been an uncertainty around whether if Greece Golden Visa leads to citizenship or not.
Greek Citizenship through Greece Golden Visa
According to Greek Nationality law, Greek citizenship can be received through naturalization after 7 consecutive years of real residency. The applicants are required to succeed in culture and language tests. However, these may not be sufficient to become a Greek citizen. The authorities have to be convinced that the applicants have a vital interest on Greece. Therefore, there is no exact way to specify the requirements for naturalization. However, becoming a tax resident in Greece would be one of the effective ways to prove your interest in obtainig a Greek citizenship. The minimum stay requirement can for the naturalization can be accepted as 6 months per years, but still the decision is left national authorities at the end of the day.
Greek citizenship can be received through naturalization after 7 consecutive years of real residency.
The Requirements for Greek Permanent Residency
How to apply for Greece Golden Visa? Greece Golden Visa Program offers several investment options. The most preferred option is the € 250.000 real estate investment. The Greek permanent residence permit should be renewed every five years and the applicants have the unlimited right to renew their permit. Also,there is no minimum residence requirement to maintain the residence permit. Greece Golden Visa investment types are as following:
- Purchase of a property with a minimum investment value of € 250,000
- 10 years of lease agreement signed for hotel accommodations or furnished tourist residences in integrated tourist resorts
- €800,000 investment for Greek government bonds, kept for five years
- €400,000 investment for bonds or shares of real estate investment companies, kept for at least three years
- €400,000 investment in bank deposits
Greece Golden Visa Approvals
The Future of Greece Golden Visa
Although it would be wrong to state that Greece Golden Visa Program directly leads to second citizenship, it is actually legally possible if the applicants complete the certain additional requirements. Most of the Golden Visa investors have the desire to become a European citizen on the long term. However, currently there is no simplified route to naturalization that is available for Golden Visa holders. A process of naturalization intagrated with the Greece Golden Visa program remains as one of the future expectations. The professionals and the investors will be waiting for amendments in the future.