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Investment Immigration Cost in Greece per Month
Greece, with its beautiful landscapes, rich history, and vibrant culture, has become an attractive destination for investment immigration. As a member of the European Union, Greece offers various opportunities and benefits to foreign investors, including the option to obtain residency permits through investment in real estate or business ventures. Many individuals and families are considering this route to gain the right to live, work, and study in Greece.
One of the key factors potential investors take into account when considering investment immigration is the cost involved. It is important to have a clear understanding of the financial requirements before making any decisions. In the case of Greece, the cost can be broken down into several aspects.
1. Property Investment
One of the most popular routes for obtaining residency in Greece is through the purchase of real estate. The minimum investment required is €250,000. This investment can be made in residential or commercial properties, provided that they are located in Greece and the applicant maintains their ownership for at least five years. The property can also be rented out for additional income.
2. Government Fees
Apart from the property investment, there are certain government fees associated with the investment immigration process. These fees include application fees, processing fees, and legal representation fees. Although the exact amount varies depending on individual circumstances, it is advisable to set aside a budget of around €10,000 to cover these expenses.
3. Health Insurance
As a resident of Greece, it is mandatory to have health insurance coverage. The cost of health insurance varies depending on factors such as age, health condition, and coverage limits. It is recommended to allocate a monthly budget of approximately €100 for health insurance premiums.
4. Living Expenses
Living expenses in Greece are generally lower compared to other European countries. However, it is still important to consider factors such as accommodation, utility bills, transportation, food, and leisure activities. The cost of living can vary depending on the location and lifestyle choices. On average, a monthly budget of around €1,500 to €2,000 should be sufficient to cover these expenses for an individual.
5. Education
If you have children, it is important to consider the cost of their education. Greece offers a range of public and private educational institutions. Public schools are generally free, while private schools may require tuition fees. It is advised to research the education system and determine the best option for your children. On average, the cost of private schooling can range from €5,000 to €10,000 per year per child.
6. Taxes
As a resident in Greece, you are subject to the local tax laws. Greece has a progressive tax system, meaning the tax rate increases with income level. It is advisable to seek professional advice regarding tax obligations and to set aside a portion of your income for tax payments.
In conclusion, the cost of investment immigration in Greece can vary depending on individual preferences and circumstances. It is essential to consider factors such as property investment, government fees, health insurance, living expenses, education, and taxes. By carefully planning and budgeting, potential investors can have a clear understanding of the costs involved in the process and make informed decisions.
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