Investing in Greece makes sound economic sense, as not only do investors benefit from the ability to call the gorgeous Mediterranean islands or mainland home but also they can access a wide range of financial benefits. These include investment property rentals, eliminating the need for visas for overseas travel, and accessing European bank accounts, which can ease the strain of overseas trading.
There are two ways in which an investor can access these benefits:
1. Greece citizenship by investment.
The Greece Golden Visa program allows investors to obtain a residence permit and naturalisation, even if they have no intention of living in the country. To do so, they must invest a minimum amount of 250,000 euros in stocks, real estate or deposits, which they will not see a return on for five years. Advice tailored to your individual circumstances can be obtained from specialist firms such as https://georgakilawfirm.com/services/golden-visa-programs.
2. Greek citizenship by residency.
A British expat who has lived in Greece for seven years can apply for a Greek passport and naturalisation. They can simplify this process slightly by marrying a local or proving Greek ancestry within their family tree.
It is recommended that the applicant speaks the language and is immersed in the culture and community to improve their success at application. They must also have a legal residence permit.
Summary
There are many benefits to British investors in obtaining Greek citizenship. Individuals must assess their circumstances to determine which method of obtaining residency is most appropriate for them.
They will be subject to many checks, which are designed to determine their eligibility and reduce fraud. It is recommended that specialist advice is sought to simplify this process, ensure that all documentation is correct, in date and legally enforceable, and that the correct advice is supplied to applicants to ease their journey into overseas living and investing, including tax implications in the UK.
Once the process is complete, successful applicants can enjoy the benefits of dual citizenship and the opportunity to reside in a sunnier clime.
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