Pakistanis can now apply for the Greece Golden Visa program, which has recently undergone significant changes to boost revenue and address housing shortages in the real estate market.
The Greece Golden Visa is a residency-by-investment program that grants non-EU citizens Greek residency through investments in real estate or other assets within Greece.
Eligible investments include real estate and government bonds:
- €250,000 Minimum: This applies to investments in specialized real estate, such as converting commercial properties into residential use or restoring registered buildings, regardless of location or size.
- €400,000 Minimum: To qualify for a Golden Visa by purchasing property in Greece’s rural areas or less densely populated cities and islands, the investment must be in a single property of at least 120 m2 worth at least €400,000.
- €800,000 Minimum: For property purchases in Athens, Thessaloniki, or islands with over 3,100 inhabitants, the investment threshold is €800,000.
Golden Visa Greece Program Steps and Timeline
Step 1: Consult with the Get Golden Visa Team and select your property, ensuring the investment meets the minimum required amount. Our team assists in finding the right property for your needs.
Step 2: Complete legal prerequisites, including obtaining a Greek Non-Resident Tax number and opening a Greek bank account. Optionally, you can execute a power of attorney.
Step 3: Acquire the property. This involves conducting ‘Legal Due Diligence’ by a lawyer, securing the promissory sale and purchase agreement, and executing a public deed.
Read: Bank Statement Requirement for Pakistanis For Greece Schengen Visa 2024
Step 4: Start your application by preparing all necessary documents for the Golden Visa application. It’s advisable to hire a lawyer for this step.
Step5: Travel to Greece to submit all required biometric data to the local authorities.
Step 6: The authorities will issue your Golden Visa Residence Card upon successful submission.
Step 7: To sustain your residency, renew your Golden Visa every five years. This renewal is essential for securing permanent residence in the future.
Step 8: After residing in Greece for seven years and meeting all tax requirements, you may apply for citizenship. Please note that detailed information on this process is somewhat limited.
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Golden Visa holders enjoy free movement throughout the European Union, and the residency permit extends to the investor’s immediate family, who also receive a five-year visa. However, the Greek Ministry of Finance mandates that properties purchased under this program cannot be used as “holiday homes” on platforms like Airbnb; they must serve as permanent residences.
