The Greek Ministry of Migration and Asylum issued recently a Circular aiming to address issues which rose from the application of the provisions of the law regarding Greek Golden Visa (Investor’s Permanent Residence Permit).
In accordance with the provisions of the law, it is possible for joint owners of a property to apply for a residence permit (Golden Visa). In case of a property owned by multiple investors, each buyer/ investor must invest an amount of at least the minimum amount of investment (250.000 or 400.000 or 800.000, as the case may be).
This does not apply in case of joint purchase of a property by spouses, where the investment amount is shared. As such, in case of spouses (or companions having entered into a civil partnership), the total amount of the investment must be at least equal to the minimum amount of investment (250.000 or 400.000 or 800.000, as the case may be).
However, in case of joint investment by spouses where the investment amount is shared between them, only one of the spouses is granted an investor residence permit, and the other is granted a residence permit as family member. This is due to the fact that one investment corresponds to one investor visa.
It has now been clarified that, if the investor dies, and provided that the other joint- owner spouse acquires (by inheritance) the entire property then the inheriting spouse has the possibility to change his/ her residence permit from “family member” to “investor”, on the basis of that investment. If however part of that property is inherited by other family members (e.g. children) , and therefore the property is not owned by one single person-investor, then a new investment must be effected, which fulfills the legal requirements and the minimum investment amount.
This publication is for informational purposes only and does not constitute legal advice.
Should you have any questions regarding Greek Golden Visa matters, please no not hesitate to contact us.
