Obtaining citizenship by real estate investment in Greece

The rise in prices for residential real estate in Greece is due to the growing interest in local housing from foreigners who, by investing a certain amount of money in Sithonia luxury real estate, are entitled to obtain a residence permit in Greece.

Guide to obtaining citizenship

To attract foreign investors, the Greek government has developed a special program with a simplified citizenship scheme for those who own real estate in the country. This is the so-called “golden visa”. Its essence is obtaining a residence permit for investment. The program conditions are as follows:

  • investment amount – 250,000 euros;
  • the residence permit is received by the investor and his family members;
  • it is necessary to live in Greece on a legal basis;
  • the opportunity to move freely around the countries of the Schengen zone, to enjoy all the advantages of living in Europe;
  • allowed to use the services of European banks;
  • after 7 years, you can apply for citizenship.

Due to the favorable conditions of the program, hundreds of foreign citizens have already managed to obtain a residence permit. The relatively low entry threshold in terms of the amount of investment makes Greece more attractive in comparison with other countries offering “golden visas”.

What currency is used in this country?

Greece is known to use Euro and no other currency is accepted in this country for payment of goods/services and other transactions. Payments solely by credit/debit bank cards and using mobile devices have become commonplace today. For those traveling to Greece for Sithonia villas rentals, experts recommend taking some cash with you. You need to have enough cash with you for incidental expenses for at least the period between landing the plane and arriving at your hotel. Better yet, have enough cash with you for your first few days in Greece.

Paul Petersen

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