Retirement Visa in Greece
Our lawyers can help with the Retirement Visa process in Greece.
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What is the Greek Retirement Visa?
Greece does not have any specific retirement visa, but there’s a few options that can fit individuals who want to retire in Greece. If you are able to purchase a property of more than 250,000€ ($271,000), and in some cases more than 500,000€ ($543,000) (depending on the location you purchase the property), then we recommend you the Golden Visa. Click here to know more about the Greek Golden Visa.
However, if you don’t want to purchase a property, but you have passive income to support yourself, then the best option is the Finantial Independent Person (FIP) Visa. Let’s learn more about this retirement option.
The FIP Residency Program addresses citizens of non-EU countries who want to reside and retire in Greece, and have sufficient passive income to support themselves, in the form of a stable annual income (2,000€ monthly passive income, or have at least €48,000 savings in the bank account) to cover their living expenses during their stay.
The FIP residency permit is issued for a period of 2 years. It can be extended, on the condition that the holder of the residency permit maintains his/ her income.
The candidate becomes eligible for permanent residency in Greece after five years of temporary residency, and after seven years (and subject to integration in Greece, which involves, among other things, proficiency in Greek), the applicant becomes qualified to apply for citizenship.
Applicants must be physically present in Greece for at least half the year (183 days) to maintain their residency status, at which point they also become tax residents.
How to obtain a FIP Retirement Visa?
The main applicant is required to provide evidence of a guaranteed monthly passive income, such as the balance of his bank accounts, dividend checks, retirement annuities, etc. The main applicant must have a minimum monthly passive income of €2,000, or at least €48,000 in bank account savings.
Salary income does not apply for this Visa, however, Greece also has the Digital Nomad Visa for those remote workers or freelancers that want to live in Greece working remotely.
Also, if you apply with your family, you will also need:
- An additional €400 per month for a spouse.
- An additional €300 per month for each new dependent.
Benefits of the FIP Visa
Although this program has very rigorous requirements, the advantages of having a Greek residence are quite extraordinary. Having a FIP Retirement Visa for Greece has the following advantages:
- It grants you entry into the EU (Schengen area).
- You can apply for the same permit for your spouse or partner, minor children or of legal age, whom -financially depend on you, including also dependants in the ascending line.
- No Investment or donation required, just a monthly passive income.
- Lower costs of living, Safety and Security, Warm climate.
- Citizenship is available after 7 years.
- Right to stay in Greece without having to work.
The Process to Get a FIP Retirement Visa in Greece
1. Collect the documents
You will need to collect the paperwork to support the application. This includes marriage and birth certificates if your family is joining you, as well as proof that you can support your lifestyle. These documents may need to be certified and officially translated.
2. Apply at the Greek Embassy or Consulate
The applicant must apply for Visa D by appearing in person at their Greek Consulate in their home country or where they legally reside. Visa D is a long-term visa and is the first permit needed to get a retirement visa. You will be interviewed by the immigration officials during this step.
3. Move to Greece
Once the application is approved, you will be granted a visa that allows you to travel to Greece. It usually takes 10 days to get a Greek visa. The entry visa is valid for one year.
4. Apply for Residence Permit Card
Once you have the entry visa and have entered Greece, you must apply for a Residence Permit with the Ministry of Migration and Asylum. To get the Residence Permit, you will need to provide some biometric data. Your submission will be confirmed with a “blue certificate”, which allows you to travel to and from Greece. The residence permit is usually approved within two months.
Some clients struggle with the language barrier, so Lexidy’s immigration attorneys can accompany you to the appointment.
Renewing the Greek FIP Visa
The process to renew the visa is relatively simple. The main requirements are:
- continuing to be able to support your lifestyle
- maintaining private healthcare insurance
- and residing in Greece for at least six months annually
The permit is renewed for two-year periods and you can work with our immigration attorneys to maintain your status.
We offer a wide range of services for investors at Lexidy. Our skilled and committed team has years of experience in legal counsel, management, real estate, conveyancing, new visas, immigration challenges, residence, and investment opportunities for investors with a global perspective.
If you are thinking to apply for the FIP Retirement Visa in Greece, contact us for a free consultation of your case and our expert lawyers will help you with anything you need!
How can a lawyer help me with the retirement Visa?
A lawyer can assist you with the Retirement Visa in Greece (also known as the Financially Independent Person visa) by:
Ensuring eligibility: A lawyer will review your financial situation to confirm you meet the requirement of having sufficient passive income, such as pensions or savings, to support yourself without working in Greece.
Document preparation: They can guide you in preparing the necessary paperwork, such as proof of income, accommodation in Greece, health insurance, and a clean criminal record.
Application submission: A lawyer will ensure your retirement visa application is accurately completed and submitted to the relevant Greek authorities, reducing the chance of delays or errors.
Appealing rejections: If your application is denied, a lawyer can help you appeal the decision, address any issues, and increase your chances of approval.
Ongoing legal support: They will assist with the renewal of your visa and provide advice on maintaining your residency status, as well as help you transition to long-term residency if desired.
If you’d like, we can discuss your specific situation in more detail to help you through the process.
Our team of experienced lawyers is ready to assist you and guide you through the entire application process. Let us help you make your dream of living and working in Greece a reality.
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Why Greece?
Obtaining a retirement visa in Greece offers numerous advantages. Firstly, it opens an opportunity to live in one of Europe’s most captivating countries, with its vibrant cities, stunning coastline, and rich cultural heritage. Secondly, the visa enables access to Greece’s thriving digital and tech ecosystem, fostering networking opportunities and professional growth. Lastly, you will immerse in the warmth of Greek hospitality, savor its delectable cuisine, and explore its diverse regions while maintaining a flexible work-life balance.
Cultural immersion
Experience the rich Greek culture.
Location
Explore Europe without visa restrictions.
Stable economy
Greece has a stable and growing economy
Delicious cuisine
Taste world-renowned Greek food and wine.
Affordable living
Cost of living is lower compared to other European countries.
Healthcare access
Access to high-quality healthcare facilities and services.
Skilled workforce
Greece has a highly skilled and multilingual workforce.
Travel Opportunities
Explore diverse regions within Greece.
Frequently Asked Questions
Do I Need to Pay Taxes in Greece?
As in order to get the FIP Retirement Visa you will have to reside in Greece for at least 183 days, you will become tax resident in Greece, which means you will have to pay taxes here. Contact us now and our lawyers can help you with the exact taxes you will have to pay depending on your case.
Do I need to work in Greece?
No, this visa grants you the right to reside in Greece without having to work, as you will be able to mantain yourself with the passive income. Actually, it is the opposite, you will not be able to work with this Visa.
Can my spouse and children apply with me?
Your partner or children can apply with you. You must show that you can financially support them. You will need to provide extra paperwork such as marriage or birth certificates.
Unmarried partners who can prove a long-term relationship can also apply as dependants.
Can my children of legal age come as accompanying relatives?
Yes, however, you will have to prove economic dependence and single status. Your children must also be enrolled at a university or academy.
Do I have to stay in Greece for a certain period of time?
Yes, you will have to be phisically in Greece for at least 6 months (183 days) each year.
Does the FIP Visa have any inconvenient?
As everything, it has the pros but also some inconvenients, like:
- The money used is not invested. Therefore, it produces no return. Bank interest rates are practically zero or close to zero. Unlike the Golden Visa investment where the property generates income and a potential reselling profit (current annual price increase in the real estate market is ~12%), this investment will not produce any return.
- The two-year funds for the whole family must be deposited in advance in the Greek banking system
- The residents should physically reside in Greece in order to hold the residency permit.
Is it necessary to hire a lawyer to collect the documentation?
It’s not required, but it’s always recommended to consult a professional. At Lexidy we can help you will all the process of getting the FIP Visa in Greece.
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For us, Lexidy is a way of life and what excites us the most is to be able to deliver the happiness and satisfaction of a successful immigration process. We want to help you achieve your goals and dreams, whether it’s residence in Greece or simply an investment.
Visit us: Patriarchou Ioakeim 25 Street, Kolonaki, Athens, 10675 (Greece)
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