Tsaks Consulting Greece

Bid and Tender Writing Services

EU through the Greece Golden Visa Program | Advising across real estate and regulated financial assets

Our team provides you direct access to real estate and high-yield liquid financial investments in Greece that comply with the requirements of the Golden Visa Program.

The Greece Golden Visa is:

  • A residency-by-investment program that grants a 5-year renewable residence permit to non-eu nationals.
  • A program which includes spouse/partner, unmarried children under 12 and the parents of both spouses.
  • No living requirement in Greece.

Why a real estate investment may not always be the best option?

Here at Tsaks Consulting, many of our clients approach us with the intention of purchasing real estate in Greece in order to obtain a Golden Visa. There is of course a financial incentive for businesses such as ourselves and other agencies to promote real estate as the best option. In our experience, some limitations and challenges with purchasing real estate include:

  • Engineer and legal costs.
  • Opportunity cost in time spent looking for property.
  • Inflated property prices targeting Golden Visa buyers.
  • Significant transaction costs such as agency and public notary fees.
  • High taxes on rental income.
  • Property and other associated taxes (such as accounants)
  • Property management costs.
  • Lower real returns than expected.
  • Rental risks.

As a result of the above risks, we usually suggest clients explore the alternatives investment option. These include:

  • Investment funds: (from €350,000)
  • Bank deposits from €500,000
  • Start up route (much higher risk): from  €250,000

What are the advantages of the financial assets route to a Greek Golden Visa?

Our advisory team will help you select the most appropriate structure. We work closely with a range of banks and investment firms to ensure our clients invest in regulated mutual firms and other financial instruments with the lowest fees and highest compliance.

Potential asset types include:

  • Regulated AIFs/Mutual Funds
  • Greek Government Bonds
  • Athex Shares
  • Bank Deposits

The advantages of this route include:

  • 100% hands-off management
  • High amounts of liquidity
  • No late night phone calls from tenants or your real estate agent
  • No property maintenance fees or ENFIA fees

Another key advantage is speed! This extends to everything from making the investment (which is simple when investing in a mutual fund and can be fast tracked directly through the bank) to the ease of managing it.

Our advisory team here at Tsaks Consulting EE provides guidance, and access to our network of professionals, throughout the entire journey.

Two key options for the Golden Visa qualifying investment route

Alternative Investment Funds (AIFs) & Mutual Funds: At Tsaks Consulting, we provide direct access to alternative investment funds and mutual funds that are regulate by the Hellenic Capital Market Commission. With an investment of 350,000, these provide quick and efficient access to the Golden Visa program with limited paperwork and hassle.

Greek Government Bonds and Bank Deposits: These have a minimum 500,000 investment and provide a stable and highly predictable option for the Gold Visa.

How we can help you gain the Greek Golden Visa through the alternative investment route

Our team, and wider network can assist you to efficiently gain residency through the Greek Golden Visa program by:

  • Introducing you directly to Banks and other mutual fund managers.
  • Providing advice through our partners on optimised tax structures and access to tax incentives (such as Article 5A)
  • Establishing remote banking (via POA) and issuing your AFM (Greek Tax Identification Number)
  • Introducing you to specialist legal and accounting professionals as required.

Country specific investment pathways for global investors

Our services span globally and we leverage on our presence across the globe to provide access to the Greek Golden Visa program. We service clients from all countries including:

  • United States citizens: Our team helps United States Citizen secure residency through the Golden Visa. We have a working knowledge of the Greek / United States Double Tax Treaty and will work with you to establish fully FATCA-compliant bank accounts and investment channels, tax treaty alignment, and non-dom tax structuring.

  • Israeli citizens and investors: We are experienced in helping investors from Israel gain a Greek Golden Visa and exposure to the Greek market.

  • Canadian, UK & GCC Investors: We leverage on our knowledge of Double Tax Treaties to assist Canadian, UK and GCC investors to optimise their overall tax structures and invest in Greece whilst gaining residency if required.

  • Chinese & East Asian families: Our team works with families (spanning three generations where applicable with the Greek Residency Program to make mutual fund and other financial investments (including real estate acquisitions).

Questions frequently asked by our clients across the globe

1. Can I change from a real estate investment to a financial fund investment later or after I have received a Golden Visa?

Yes. You can do this upon renewal of the Golden Visa. You need to make sure the new qualifying financial asset or property meets the capital threshold at the time of renewal. We have helped many clients through this process, particularly those who purchased real estate through the Golden Visa scheme five or more years ago. Many of their properties have appreciated in value and we have assisted them through the sales process and through reinvesting into financial funds. This helps eliminate the administrative hassle of owning a property in Greece.

2. Do I need to physically reside and live in Greece to maintain my residence permit?

No you don’t. There is no minimum stay requirement for either the real estate or financial asset routes. Your 5-year renewable residency remains valid as long as you maintain ownership of the qualifying asset.

3. Can you help me get a Greek Golden Visa without buying property?

Certainly through the alternative investment route. We can act on your behalf by power of attorney. For clients that want a hands-off approach and don’t want to deal with property ownership, real estate agents and prefer a more simplified approach, this is a good option.

Ready to explore your investment options for a Greek Golden Visa?

Speak to our team to discuss your plans today. Complete the contact form our contact our team directly.