17 + 1 Reasons To Invest In Greece

Many European countries offer non-EU citizens access to Europe through residency programs. Greece offers one of the most economically sound solutions and the cheapest in the Mediterranean area. Countries such as Portugal or Spain, where the minimum property value must be €500,000, and Cyprus, where the minimum property value must be €300,000, are considered very expensive compared to Greece where the similar requirement is only €250,000. Moreover, Greece is the only Mediterranean country offering permanent residency from day one.

Since early 2019, the Greek residency program became the most popular residency program in the world with an annual increase rate exceeding 100%.

Greek real estate market suffered heavily from the recent economic crisis, reaching bottom point at the end of 2018 with a price dip of almost 50%. Since then the prices have been growing with an annual rate of 9%.

The economic crisis created a lot of investment opportunities. Non-EU citizens have the chance to invest in Greece today, at a time that real estate prices are still low, despite the high demand.

Moreover, there is 3-year suspension of Value Added Tax (VAT) on new buildings, valid from January 1st, 2020. A measure aiming to revive the real estate market and boost construction activity. Greece is fast becoming the top selection among investors.

After a seven-year crisis that took a heavy toll on the Greek economy, today there is a burst of optimism, in stark contrast to the experience of recent years.

A series of painful reforms and the efforts of the hard-working Greek people led to a slow but steady recovery, evident not solely in the economic figures but in the markets, in the streets, in everyday life.

By all accounts, Greece is now enjoying the full trust of the international investors, demonstrating a very healthy growing rate, recovering fast from the losses of previous years.

Sovereign yields are now lower in Greece than in the US, a remarkable accomplishment and Greece is pushing to repay its IMF loans early. International credit rating agencies such as Fitch, recently upgraded Greece by one notch to BB from BB-, citing the country’s improved economic growth and fiscal policies. Following this latest upgrade, Greece is now two notches away from regaining its investment grade status.

Big investors in Greek debt, which include asset managers such as Capital Group, Carmignac and Prudential Financial, have done very well, with holders of the 10-year benchmark receiving a 23-percent total return for the year, according to the Financial Times.

In light of all these positive developments and the country’s improved economic performance in 2019, the European Commission raised its forecasts for Greek GDP growth this year to 2.4% – twice the Eurozone average – from 2.3% previously.

Moreover, the Mitsotakis administration, elected in July 2019, brought forward an impressive array of new rules to attract foreign investors, among which lower corporate taxes, flat rate taxes for non-domicile residents.

Greece Schengen Zone Member

The Schengen Area consists of 26 European countries*, excluding Cyprus and the UK.  Holders of the Greek residency permit enjoy the same travel privileges as a Greek citizen in the Schengen Area. This means they can:

  • Travel directly from their country of origin to any Schengen country
  • Travel freely within the Schengen zone without lengthy customs checks
  • Reside in any other Schengen country up to a period of three months in every six month period, with the right of multiple entries

*Schengen Area countries: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland

Greece's Strategic Location

Greece is strategically located at the crossroads of Europe, Asia and Africa, a great plus for a country, as it is possible to reach any of these continents within 1 hour via airplane, while in 3 hours max any part of Europe is within reach.

Greece is connected via direct flights to all major cities in the world, like  New York, London, Dubai, Moscow, Beijing, Shanghai, Singapore and a lot more.

Greek Residency No Obligation of minimum stay

The Greek Residency program is very clear on this aspect. You buy a property; you apply for residence permit including family members. You do not need to visit Greece again to maintain the residency right, while you can travel to any Schengen country directly from your country of origin.

Countries like Portugal and Spain offer temporary residency for 5 years and applicants for the residency permit are required to also reside in the country for a minimum number of days annually for the first five years.

In Greece there is no such requirement, meaning that holders of the Greek residency permit are not burdened with annual travel expenses in order to retain their right.

Greek Residency Mediterranean Climate

What more could anyone wish for than 300 days of sunshine a year?

Greece is renowned for its mild climate, even summer hot days are compensated by lovely breezy nights. Greek summer can last well from May to September allowing for months of enjoyment by the sea. The Mediterranean climate has four distinct seasons.

Autumn and spring are also characterized by lots of sunshine and relatively mild temperatures around 10-25oC, while the short and temperate winters allow for various activities in beautiful snowed landscapes in the mountains, topped by lovely meals in quaint traditional villages.

Greece is A Destination for Everyone

Its unique position on the world map and its strong footprint on the tourist sector for years on end, have made Greece a synonym for hospitality, especially towards immigrants. Increasingly a melting pot of various cultures, Greece respects the customs and habits of foreign nationals, without any compromise to matters of safety. Equally important for the foreign visitor to Greece, is the fact that a large segment of the population speaks English making communication easy and enjoyable.

Finally, the Greek constitution guarantees the protection of all visitors and strictly condemns racial, social, religious and any other form of discrimination.

Greece Educational System

Higher Education in Greece is both public and private. Totally there are 29 state universities covering every academic faculty free of cost.

Foreign students have the right to apply for admission in the Greek Higher Education system.

There is also a large number of private colleges and universities offering a variety of courses.

Both private and state universities offer multilingual programs, mostly in English, while there are programs specifically designed for international students. Needless to say, that holders of the Greek residency permit enjoy the same access to higher education as Greek citizens.

Greek Gastronomy

The Greek food “cellar” is the best representative of the fabled Mediterranean diet, based on virgin olive oil, tasty feta cheese, the world famous Greek yogurt, fresh green salads, fresh fish, meat, poultry and excellent wines.

Its richness and diversity have earned for the Greek diet the title of one of the healthiest in the world and is credited for the reduction of cardiovascular diseases leading to longevity.

Greece’s natural beauty is legendary. Crystal clear blue waters, small picturesque islands, golden sandy beaches, hills covered by pine trees and olive groves, are only some of the images visitors enjoy in Greece.

Apart from its lively modern cities, worth visiting are quaint villages with traditional stone houses in mainland Greece and picturesque white-blue houses on the islands. Greece has something to offer for every taste and budget, and is welcoming everybody to discover it.

Greece Acropolis Parthenon

Greece is the cradle of western civilization, where the foundations were laid for the development of mathematics, medicine, physics, literature, philosophy, theater, drama and other sciences.

Residing in Greece offers the unique privilege to discover its well preserved historical monuments and archaeological sites that can be found all over the country. From Ancient Olympia, where the first Olympic Games were held, to Parthenon and the Agora of Athens, where Democracy was born, to Mycenae and Crete, the presence of ancient Greek civilization fills us with awe and delight.

Greece Is A Welcoming Destination For Everyone

Greece is one of the most popular tourist destinations worldwide. 37 million tourists visited Greece in 2019, almost 4 times the Greek population.

The country has something to offer to all types of lifestyle. From its serene, secluded beaches and villages, where one can retire and relax, to its buzzing modern cities, Greece is the place for you. Whether you are adventurous and you like sports and camping, or you are fascinated with history and art, you can find everything in Greece.

Greece Health System

Greece is renowned for its excellent public health care system, a universal care system provided through national health insurance and private health care.

In a 2000 report by the World Health Organization, the Greek healthcare system was ranked 14th worldwide (out of 191 members), surpassing other richer countries such as Germany (25) and the United Kingdom (18), while ranking 11th at the level of services offered.

Greece has the highest number of doctors per capita of any other OECD country, i.e. 6.3 doctors per 1000 people in 2013.

Greece has long been counted among the top countries in terms of life expectancy, ranking 20th on a global scale, mainly due to the country’s Mediterranean diet, temperate climate and long hours of sunlight.

Greece Is A Safe Country

In Greece, anyone can safely roam the streets even well into the night. In big cities like Athens and Salonika, the mild climate conditions tempt people to stay out until the early morning hours, making city life lively 24 hours a day.

As the reputable travel portal “Lonely Planet” puts it in a recent article about Greece: “If you take the usual precautions, Greece is a safe place to travel and you are more likely to suffer from heat exhaustion or sunburn than from any kind of crime.”

Greek And European Residency By Investment

The Greek residency permit leads to Greek citizenship.

After 7 years of residency and if you finally decide to live in Greece and learn the language, you can become a Greek and European Union citizen, enjoying the right to live and work in any of the 27 European Union countries.

Gain a business foothold in Greece and be active in all EU countries. Take full advantage of the largest economy in the world with an average GDP per capita of  €35,000 for its 500 million consumers.

The EU is the world’s largest trader of manufactured goods and services.

As an economic bloc, the EU is considered the most open to developing countries. Fuels excluded, the EU imports more from developing countries than the USA, Canada, Japan and China put together.

The EU benefits from being one of the most open economies in the world and remains committed to free trade.

Reasons to invest in Greece

In Greece,

  • you are not taxed for your global income
  • you do not pay capital duty or net wealth tax
  • you can register unlimited number of assets without restrictions
  • you can open unlimited number of bank accounts
  • you pay the lowest property tax rate in Europe (~€5 per sq. meter annually)