GOLDEN VISA

Golden visa is a provision launched by the Greek government, offering permanent residence to real estate buyers or investors of non-EU origin, who purchase property in Greece that exceeds €250.000 in value. Compared to other European countries, Greece offers the most financially beneficial residency permit.

Who does this permit apply to?

Those who have the right to enter Greece and acquire a permanent residence permit under this scheme are:

· Non-EU citizens, planning to invest in Greece, either individually or via a legal body, provided the value of the property for sale surpasses €250.000.

· Family members of these non-EU citizens and more specifically the spouse, their children up to the age of 21 (provided they are not married) as well as the unmarried first-degree descendants of the dependent or his/her spouse as long as they are not over 21 and legal custody has been approved to either the applicant or their spouse.

What are the legal conditions?

Residence permit can be granted as long as the following legal conditions are met:

· The property must be owned by a third-country national, who has legally entered the country on any type of Visa.

· If the property is owned by more than one people and its value surpasses €250.000, a permit can be granted only if the owners are married and have exclusive ownership of the property. In all other occurrences of joint ownership, a residence permit can be approved, only if the joint investment of each owner equals to the value of €250.000.

· If the property is bought through a legal body or organisation, then the applicant should have total control of the company’s shares.

· A residence permit can also be approved for applicants who own more than one real estate property in Greece with a combined worth of at least €250.000.

· Finally, a residence permit can also be granted to non-EU citizens under a tenancy of at least 10 years for hotel accommodations or furnished tourist residences, provided the minimum value of the tenancy is €250.000.

Please be advised that property in Greece has two different values

1/ Commercial value, which is the value agreed by all parties in the contract.

2/ Objective value, which is the value fixed by the Greek government.

If the objective value of the property is equal or higher to its commercial one, then objective value is used for tax calculation.

However, if the commercial value is higher to its objective one, then only commercial value is taken into consideration for tax calculation.

What are the documents required for applying for a permanent residence permit in Greece?

Documents required for the application include:

· A copy of your passport.

· A copy of your VISA permit.

· A copy of the settled contract of the property.

· A copy of the contract’s record at the Land Registry and Cadastre of Greece.

· Evidence of habitation in Greece.

· A fee of €500 imposed by the state for a Permanent Residence Permit.

· A state fee of €16 for covering the expense of the Residence Permit’s card.

· Photographs of the applicant.

How can we help you?

Our firm represents, guides and supports applicants who are interested in acquiring a Golden Visa in every stage of the process. More specifically, we offer:

· Help with finding a suitable property and negotiating its price on your behalf.

· Help with collecting all the necessary documents required for a residence permit application.

· A careful examination of the legitimacy of the property titles and the tax requirements.

· Help with opening a bank account in a Greek bank.

· Help with finalising the property contract and registering it to the appropriate bodies (i.e. Land Registry and Cadastre).

Leoforos Aleksandras 57, Athens Greece - Tel: 210 2717137 - Fax: 210 2718481