Greek Golden Visa

Greece has one of the most attractive Golden Visa programs
immigration

Greek Golden Visa Program

The Greek Golden Visa Program refers to the residence permit which is available to investors in real estate in Greece.

The Greek Golden Visa is very popular among investors as it is one of the most affordable ones, and it provides to the applicants the right to live in Greece as well as visa-free access to Europe’s Schengen Area.

greek golden visa

KEY INFORMATION

Amount of investment: 250 000 euros (or 400,000 euros or 800,000 euros depending on the type of property and the region)

Duration of the residence permit: 5 years- renewable

Timeframe: by law, the residence permit is issued in 2 months from the date of submission of the application (and fingerprints) however in practice it may take a little longer depending on the local authority

The application can be submitted through a Power of Attorney)

CRITERIA OF THE INVESTMENT

The investments which qualify for this type of residence permit are:

1. Investment in real estate in Greece.

The investment into a property must be effected in one of the following manners:

– Acquisition of real estate property in Greece, or

– Acquisition of real estate property in Greece through a fully owned company having its seat in Greece or another EU member state, or

– Long term lease of a combined tourist facility or timeshare lease of a touristic facility, or

– Acquisition at full ownership through inheritance (intestate or through a will) or through parental gift of real estate property in Greece.

2. Amount of the investment

According to the new Immigration Code, the minimum value of the investment depends on the type of property and on the location of the property. More specifically, the minimum amount of the investment is:
  • 250,000 euros for the acquisition of properties where the main living areas of such property are converted into a residential property. The investment is effected in a single property, and the change of use (i.e. the conversion of the property into a residential property) must have been completed before the submission of the application for residence permit however after the entrance into force of the relevant legal provisions (i.e. after 05.04.2024). The change of use may be undertaken by the buyer (investor) or the seller.

The above apply also to the cases where an industrial building (or a section thereof) is converted into a residential property, provided however that for the past 5 years no business was established and operating therein.

 

  • 250,000 euros for listed buildings (so buildings of a particular architectural interest) restoration or reconstruction works. The investment is effected to a single property and the first renewal of the residence permit is conditional upon the full completion of the restoration of the real estate. The transfer of the property before completion of the restoration or reconstruction works is void.

 

  • 400,000 euros for all properties which do not enter into the above two categories, except for properties which are located in specific regions which are considered to be of higher value. The investment must be effected in one single property and where such property consists of a building or apartment, the minimum surface must be 120 square meters.

 

  • 800,000 euros for properties which are located in the following regions:
  • Prefecture of Attica (Athens region and suburbs)
  • Prefectural Unit of Thessaloniki,
  • Prefectural Units of Mykonos and Thira (Santorini)
  • All islands with a population of over 3100 residents

 

The investment must be effected in a single property and its surface (where it is a building or apartment) must be at least 120 square meters.

 

More details on the foregoing may be found here.

LEASE OF PROPERTY

Investors in real estate, may lease the property acquired as above and thus generate income.

However, it is prohibited to lease (or sublease) the properties acquired for the application for residence permit under the short-term lease regime of sharing economy or to sub-lease them.

 

Additionally, the properties the use of which is converted into residential may not be used as registered address or branch office for a business.

 

Sharing economy, is defined as any model, where the digital platforms create an open market for the temporary use of properties or services, often provided by private individuals.

 

Short- term lease, is defined as the lease or sub-lease of a property, for a specific duration which is shorter than 60 days, and provided that no other services are provided, beyond the stay and bedding equipment.

 

Long-term leases or subleases to touristic businesses, for the professional use of the property, provided that additional services are provided (e.g. hotel), and provided that the property does not fall under the category of property converted into a residence are allowed.

GREEK GOLDEN VISA RESIDENCE PERMIT

Investors in real estate may apply for a 5- year residence permit (golden visa ) in Greece. The residence permit may be renewed for as long as the conditions for the investment are fulfilled

The main applicant (investor) may be accompanied by the members of his/ her family, that is:

His/ her spouse

The children under the age of 21 years old

The ascendants (parents) of both spouses

GREEK GOLDEN VISA MAIN POINTS

– Possibility to stay in Greece without any limitations and to travel within the Schengen area for 3 months per semester.

– Duration of 5 years, with unlimited number of renewal (as long as you keep the property on your name)

– Possibility to lease the real estate property and generate income.

– No minimum stay requirement.

– Application can be submitted through a Power of Attorney.

– Very quick procedure of the issuance of the Residence permit.

– Possibility to invest through a company.

 

 

ILAG

OUR SERVICES


We provide assistance and advice in finding the suitable investment for you

We  carry out due diligence verifications on the real estate property, coordinate the procedure with the seller, the notary, the bank and any other parties involved

We draft a power of attorney and liaise with the Greek Consular authorities abroad. This allows us to represent you before the Greek authorities and proceed to any actions instructed by you, including filing the application for the golden visa, in case you do not wish to travel to Greece, before the submission of the application

We proceed to all the necessary actions and prepare the application file for the golden visa

We accompany you to the migration authorities, for the provision of biometrical data. This may be done at any time within 12 months of filing the application for residence permit

We assist you with the management of your property, change of utilities in your name, draft lease agreements, in case you wish to lease it, and generally we may represent you before any Greek person or authority

To contact us please fill the form below