Many immigration agencies claim in their promotions: “The 250,000 Euro Greek investment immigration program offers high cost-effectiveness, allowing the whole family to quickly obtain EU status.” As a leading institution that was the first to introduce the Greek investment immigration program to the domestic market, Worldway Group provides a professional analysis and interpretation of the issues investors care about, as well as potential questions and even misconceptions. We hope this will help investors make rational and objective judgments and successfully realize their immigration dreams.
Q1, Besides the 250,000 Euro property purchase, what other conditions are required to obtain immigration status?
Q2, How long does it take to obtain residency after submitting the application?
Worldway Group: Residency can be obtained in about 2 months, and the approval time may be further shortened in the future.
Q3, What is the nature of the residency obtained?
Worldway Group: A renewable permanent residence visa. Renewal condition: The applicant must own property worth no less than 250,000 Euros under their name. Since investors can buy and sell properties, they only need to maintain continuous ownership of property worth 250,000 Euros.
Q4, It is renewed every 5 years. If the investment immigration policy is terminated, how will my rights be protected?
Worldway Group: Once the policy is changed, the old law will still apply, and it will not affect the validity of the documents; it possesses non-retroactivity.
Q5, Can I work locally after obtaining residency?
Worldway Group: No, but you can establish a company and manage it as a shareholder.
Q6, Can I bring my parents along with my spouse and children for Greek property investment immigration?
Worldway Group: You cannot bring your parents.
Q7, Is there an age requirement for accompanying children?
Worldway Group: You can bring minor children (under 18 years old), and the age limit may be relaxed to under 21 in the future.
Q8, Is Greece a Schengen country?
Worldway Group: Yes. After obtaining a Greek residence visa, you can freely enter and exit the Schengen area without needing to apply for a Schengen visa.
Q9, What benefits can I enjoy after approval?
Worldway Group: Minor children can attend Greek public schools for free. After purchasing medical insurance, you can enjoy the same medical benefits as locals. This applies to the Greek medical system for all individuals residing in Greece.
Q10, What are the advantages of the Greek investment immigration program compared to those of Portugal and Cyprus?
Worldway Group: The Greek investment immigration program combines the advantages of the Portuguese and Cypriot property investment immigration programs while also being competitive and complementary. Specifically, the investment amount is low, and obtaining a Greek residence visa is equivalent to obtaining the right to freely reside in 26 Schengen countries, with no residency requirements, in a world-renowned vacation destination.
Q11, Can I buy multiple properties with 250,000 Euros? Can I buy commercial real estate?
Worldway Group: The law does not restrict the number of properties an investor can purchase. In other words, one person can buy multiple Greek properties as long as the total value reaches 250,000 Euros. Multiple people can also purchase one property as long as the value of the property under each person's name reaches 250,000 Euros. Regarding property types, our Greek lawyers have confirmed that investors can purchase commercial real estate, land, or residential properties.
Q12, Which region in Greece is suitable for buying a house?
Worldway Group: Most investors who sign up for Worldway Group's Greek inspection tours prefer Crete, the land of longevity. It is the largest island in Greece and the birthplace of Greek culture. It has two international airports with direct access to Europe, and the island is well-equipped with food, housing, and transportation. Buying a house in Crete allows you to enjoy both the prosperity of a big city and the island lifestyle.
Q13, What is the procedure for purchasing a property?
Worldway Group: After selecting a property, the investor first signs a purchase contract, followed by notarization, and then property registration. Once registered by the registrar, the investor officially becomes the owner of the property.
Q14, Can I save on lawyer fees by going through a local developer?
Worldway Group: In Greece, lawyer fees absolutely cannot be saved. Greece even has mandatory laws telling homebuyers that they must hire a buyer's lawyer. Since Greece is the only country in the EU that has not established a central registration system, you must have a lawyer loyal to you when investing in Greece. The duties of the buyer's lawyer are: first, to clarify matters related to ownership, including whether the asset is involved in disputes; second, to clarify matters related to construction, including whether there is a building planning permit; and third, to protect the client's interests in the property transaction to ensure the safety and legal compliance of the transaction.
Q15, How much does it cost to hire a lawyer?
Worldway Group: The lawyer fee is 1%-1.5% of the total property price (net value), plus VAT.
Q16, Are there any preferential policies for Greek property investment immigration?
Worldway Group: Worldway Group is currently holding a 15-day limited-time promotion. The promotional categories include the Greek investment immigration program. You can call to inquire about the details of the promotion.
Q17, Can the house be rented out?
Worldway Group: In principle, renting is not allowed, and there is no such thing as a guaranteed rental program.
Q18, The European debt crisis started in Greece; is the investment risk too high at this time?
Worldway Group: 2012 was a year of economic crisis for Greece. Now, the economic crisis has passed, and all industries are gradually recovering. Moreover, the Euro to RMB exchange rate is at a historical low, and Greek property prices are also at a relatively historical low. Facing the historical lows of the Euro exchange rate and Greek property prices, from an investment perspective, this is the best time to enter the market. In the future, as long as the European economy recovers, both the exchange rate and property prices will climb, resulting in two-way appreciation. Its investment opportunity can be described as a once-in-a-century event. Now is also a relatively relaxed time for Greek immigration, and it is also a period with a relatively short and fast processing cycle.