Greece Golden Visa Fees

The Hidden Costs of the Greece Golden Visa Program Revealed: If you’ve been dreaming of sun-drenched beaches, ancient ruins, and a European lifestyle, Greece’s Golden Visa Program might seem like the ticket to paradise. But before you dive into this enticing opportunity, it’s crucial to understand the full scope of the costs involved. The Greece Golden Visa offers a path to residency in one of Europe’s most desirable destinations, but it's not without its financial implications. In this comprehensive guide, we’ll uncover the often-overlooked fees associated with obtaining a Golden Visa in Greece, from initial investments to ongoing costs, ensuring you’re fully prepared for this exciting venture.

Initial Investment: To qualify for the Greece Golden Visa, you must make a significant initial investment. The primary requirement is a real estate purchase of at least €250,000. This amount makes Greece one of the more accessible countries for obtaining residency through investment, especially compared to other European nations.

Additional Costs: Beyond the purchase price of the property, there are several additional costs to consider:

• Property Transfer Tax: This is a one-time tax levied on the transfer of property ownership. In Greece, the property transfer tax is 3% of the property’s assessed value or the purchase price, whichever is higher.

• Notary Fees: Notaries in Greece play a crucial role in real estate transactions, and their fees typically range from 1% to 1.5% of the purchase price. These fees cover the preparation and execution of the purchase contract and other legal documents.

• Legal Fees: It’s advisable to hire a legal professional to guide you through the process and ensure all legal requirements are met. Legal fees usually amount to 1% to 2% of the purchase price.

• Registration Fees: After the property is purchased, it must be registered with the local land registry. The registration fee is approximately 0.5% to 1% of the property’s purchase price.

Golden Visa Application Fees: Once the property is secured, the next step is applying for the Golden Visa. The application fees are as follows:

• Initial Application Fee: This fee is around €2,000 for the main applicant and €1500 for each additional family member.

• Issuance Fee: Once approved, the visa issuance fee is approximately €500 per person.

Ongoing Costs: While the Golden Visa allows you to live in Greece, there are ongoing costs that you should be aware of:

• Property Maintenance Costs: Owning property comes with maintenance expenses. These include annual property taxes, utility bills, and general upkeep.

• Renewal Fees: The Golden Visa is initially valid for five years and can be renewed. Renewal fees are similar to the initial application fees and must be paid every five years to maintain residency status.

Additional Financial Considerations:

• Insurance Costs: Health insurance is mandatory for Golden Visa holders, which can vary based on coverage and provider.

• Management Fees: If you choose to rent out your property, you might need a property management company. Management fees typically range from 10% to 15% of the rental income.

Potential Savings: Despite these costs, the Greece Golden Visa Program offers significant advantages, including visa-free travel within the Schengen Area, access to high-quality healthcare, and an attractive tax environment. It’s essential to weigh these benefits against the costs to determine if this investment aligns with your financial and lifestyle goals.

Summary: Obtaining a Greece Golden Visa involves various financial commitments, from the initial property investment to ongoing costs and fees. By understanding these costs in detail, you can make an informed decision and ensure that your investment in the Greek lifestyle is both rewarding and sustainable.