"Discovering Greece's Golden Visa
Program and Retirement Opportunities"
Are you concerned about your retirement prospects? Many of us face the same uncertainty, wondering if we'll ever be able to retire comfortably. This was a question that once plagued us, too. We weren't fortunate enough to have bought a property that skyrocketed in value, become Bitcoin millionaires, or win the lottery. So, a few years ago, we embarked on a journey to take control of our investments, as well as, create a side hustle.
But even with these financial efforts, we needed to find a place where we could retire or semi-retire and sustain ourselves on Social Security alone. That way we would always know we would be financially free. We explored various countries, starting in the Americas and eventually setting our sights on Europe. Our choice? Portugal. However, with the recent changes in Portugal's Non-Habitual Resident (NHR) program and the country's high taxes, it's time to consider other European options.
In this article, we'll take you on a journey to Greece, a nation that might just be your next retirement destination.
A New Beginning in Greece
Before we dive into the details of Greece, we want to remind you we are from from the American Midwest and now call the beautiful island of Madeira our home. This adventure has been one of the most rewarding experiences of our lives, filled with new cultures, people, foods, and places to explore.
Now, we'd like to introduce you to Greece. Currently, we find ourselves on the island of Crete, which is markedly different from Madeira. It's a large island with a semi-arid climate, resulting in beautiful gardens and delicious Mediterranean cuisine. Fresh fish and seafood from the ocean, a variety of fruits and vegetables prepared simply and grilled, and a landscape dotted with greenhouses – it's not hard to eat healthily here.
One notable aspect of Greece is its people. The further you venture from the main tourist areas, the friendlier, more helpful, and sincere the locals become. The tourist hotspots are undoubtedly crowded and more suitable for visits than long-term stays.
Language and Housing in Greece
While the Greek language, with its distinct alphabet, can pose a challenge, you'll find that most people in Greece speak some English. Learning a new language and alphabet is a rewarding endeavor, should you decide to settle here. We struggle to even say 'Thank you' correctly.
Moving on, according to one set of data, housing prices in Greece have risen over 18% in the last eight years, with almost 9% of that increase occurring in the past year. This pattern may seem familiar, echoing trends seen in various parts of the world. Nonetheless, housing prices in Greece remain lower than those in most other EU countries. You can still find a lovely home with a view of the water at an attractive price, which is a dream for many. We found a wonderful remodeled home by the sea with 27 acres of land with an olive grove. It was fantastic! Picture perfect.
The Greece Golden Visa Program
Why are we discussing this? Greece offers a Golden Visa opportunity, attainable with a property purchase ranging from 250,000 to 500,000 euros, depending on the location. This program is considered a residence by investment opportunity and is recognized as one of the most affordable in Europe.
Successful applicants and their families gain the valuable privilege of visa-free access to the
Schengen Area. The application process is efficient, often completed within a few months.
What does the Greece Golden Visa program grant you? The right to live in Greece, with no restrictions on the duration of your stay. There is no minimum stay requirement either. Living in Greece also comes with access to public healthcare and education.
With a Greece Residence Permit, you can enjoy visa-free travel throughout the Schengen Zone, further expanding your horizons. Additionally, the program allows for family reunification, with the principal applicant's spouse and children under 21 included. Even the applicant's parents and parents-in-law can receive cards, thanks to the Extended Family benefit.
Retirement Options in Greece
Don't have an extra 500,000 euros sitting around. Well how about a retirement visa, Greece has a "Visa D" option. This is akin to Portugal's D7 Visa and requires a permanent income of 2,000 euros per month. Additionally, Greece offers a pensioner flat tax program, which entails a flat tax rate of 7%. We'll delve deeper into this program in future discussions.
So, could Greece be the retirement destination you've been searching for? It's a possibility worth exploring, and with the diverse opportunities it offers, your dreams of a European retirement could soon become a reality. Life is short, and the world is full of exciting places to discover, so why not make your next adventure Greece?
Keep an eye on our channel 'It'll Be fun' for more insights into the possibilities that Greece, as well as other European destinations, can offer. Retirement, investment, and new beginnings await – are you ready to seize them?
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