Guide to Long-Term Residency for Financial Advisors in Greece
Introduction
Greece, with its rich history, stunning landscapes, and favorable tax regime, has become an increasingly attractive destination for financial advisors seeking long-term residency. This comprehensive guide will provide an in-depth overview of the requirements, benefits, and processes involved in obtaining long-term residency in Greece for financial advisors.
Eligibility Criteria
To qualify for long-term residency in Greece as a financial advisor, you must meet the following criteria:
- You must be a citizen of a non-EU/EEA country.
- You must have a proven track record of experience as a financial advisor.
- You must have a minimum investment of €250,000 in Greece.
- You must have a stable income sufficient to support yourself and your family in Greece.
- You must have adequate health insurance coverage.
Types of Long-Term Residency
There are two types of long-term residency available for financial advisors in Greece:
- Golden Visa: This visa is granted to non-EU/EEA citizens who invest €250,000 or more in real estate or other approved investment options in Greece.
- Residence Permit for Financial Advisors: This permit is granted to non-EU/EEA financial advisors who have a proven track record of experience and who meet the other eligibility criteria.
Application Process
The application process for long-term residency in Greece varies depending on the type of residency you are seeking.
Golden Visa
To apply for a Golden Visa, you must:
- Submit an application to the Greek Immigration Service.
- Provide proof of your investment in Greece.
- Submit supporting documents such as your passport, proof of income, and health insurance coverage.
Residence Permit for Financial Advisors
To apply for a Residence Permit for Financial Advisors, you must:
- Submit an application to the Greek Ministry of Foreign Affairs.
- Provide proof of your experience as a financial advisor.
- Submit a business plan outlining your activities in Greece.
- Submit supporting documents such as your passport, proof of income, and health insurance coverage.
Benefits of Long-Term Residency
Obtaining long-term residency in Greece offers several benefits, including:
- The right to live and work in Greece indefinitely.
- Visa-free travel within the Schengen Area.
- Access to Greece’s healthcare, education, and social security systems.
- Favorable tax rates on foreign income.
Taxation
Financial advisors with long-term residency in Greece are subject to the following tax rates:
- Personal income tax: 9-44%
- Corporate income tax: 24%
- Capital gains tax: 15%
- Inheritance and gift tax: 0-40%
Additional Considerations
Before applying for long-term residency in Greece, it is important to consider the following additional factors:
- Language: Greek is the official language of Greece. While English is widely spoken in tourist areas, it is recommended to learn basic Greek for daily life.
- Cost of Living: The cost of living in Greece varies depending on your lifestyle and location. However, it is generally lower than in many other European countries.
- Healthcare: Greece has a universal healthcare system. Residents are entitled to free or subsidized medical care.
- Education: Greece has a well-developed education system. Public schools are free for residents.
- Cultural Integration: Greece is a welcoming country with a rich culture and history. Financial advisors who make an effort to integrate into the local community will find it easier to adjust to life in Greece.
Conclusion
Obtaining long-term residency in Greece as a financial advisor can be a rewarding experience. By meeting the eligibility criteria, following the application process, and considering the additional factors discussed in this guide, financial advisors can enjoy the benefits of living and working in this beautiful and welcoming country.