UNIQUE RESIDENCE PROGRAM IN GREECE
Residence permit in Greece
The Golden Visa Residence investment €250.000
The recent Law has established a new type of residence permit for real estate owners (Golden Visa).
In order to obtain a residence permit for real estate owners, the following preconditions must be fulfilled:
a) The real estate property must be owned by and be in possession of its owners
b) In cases of joint ownership, where the value of the property is €250.000, the residence permit is only granted if the owners are spouses with undivided ownership of the property. In all other cases of joint ownership, the residence permit is only granted if the amount invested by each of the joint owners is at least €250.000.
c) If the owner has acquired the property through a legal entity, the applicant must own 100% of the company shares (In many cases there benefits for acquiring the property through a legal entity -in the name of a company- making the purchase almost zero cost) – Contact our office for more details
d) The residence permit is also granted in cases where the third country citizen is the owner, either directly or through a legal entity, of more than one real estate property with a combined value of at least €250.000.
e) In the case of third country citizens who have signed a lease of at least 10 years for hotel accommodations or furnished tourist residences in integrated tourist resorts, provided the minimum value of the lease is €250.000, the contract must require a single payment of the lease for the equivalent of the ten year leasing of the property. In all cases outlined above, the value of the real estate property will be determined based on the value of the property, or the lease, indicated in the contract of purchase. The value of the property, according to law 4146/2013, is the amount stated explicitly on the contract which has been submitted for the purchase of the real estate property.
The duration of the residence permit is 5 years and it can be renewed provided that the applicant still owns the property. Also, the members of the investor’s family have the potential to request individual residence permits. For this purpose, they must submit separate applications and their own permit expires at the same date that the investor’s permit expires.
Our Office is specialized in any matter regarding the purchase or lease of real estate in Greece by foreign nationals. Among others, we have handled successfully for many foreign clients who own real estate in Greece the procedure for obtaining a residence permit, undertaking all the necessary steps needed. Our goal is to keep our clients satisfied and to provide high quality services at the most competitive prices.
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