Golden Visa
5-Year Residence Permit for Real Estate Investors
We at IOANNIS MARAKAKIS & ASSOCIATES have a global network of partners, including lawyers specialised in property and nationality law, property evaluators and notaries, and take on the maintenance, leasing, and sale of real estate as well as the procedures for granting of Golden Visa in Greece for foreign nationals.
Golden Visa
Residency by Investment
The Hellenic state offers foreign nationals who are willing to invest a defined economic contribution to purchase a real estate, the opportunity to obtain a 5-year residence permit, for the investor and the members of their family.
In accordance with Law 4146/2013, a capital investment of at least 250.000 euros may grant a renewable residence permit if the investors remain owner of the property. A Golden Visa provides investors and their families with access to new markets and a host of business, career, educational, healthcare, tax, and free travel to Schengen countries directly from the country of origin.
The requirements for acquiring a golden visa in Greece are the following:
- Ownership of real estate
- In cases of joint ownership of real estate worth 250.000 Euro, the joint owners must be spouses.
- In all other cases of joint ownership, each investment must amount to at least 250.000 Euro.
- In cases of ownership of multiple real estate properties, the total value of all the properties must exceed 250.000 Euro.
- If the real estate was purchased by a corporation, the single shareholder of the corporation is entitled to the permit.
Interested foreign investors may enter Greece with a type-D Visa, and must have completed the procedure for the purchase of the real estate and submitted their 5-year residence permit before the Visa expires. Before the 5-year permit expires, the investor must submit a request to have it renewed for another 5 years, under the condition that they still have ownership over the real estate. Beneficiaries are not required to live for a certain period of time in Greece in order to obtain the permit.
High-Quality Legal Services
Having an expertise in the process, the Law Firm YIANNIS MARAKAKIS & ASSOCIATES ensures the procedures for the granting of the Golden Visa Permanent Residence Permit in Greece for foreign nationals.
The Law Firm undertakes and carries out all the necessary actions, with reliability, speed and respect for its client’s needs.
Indicative available services:
- Property selection
- Negotiation with the seller
- Open a bank account
- Issue a Greek Tax Identification Number (TIN)
- Verifying the legal and title status of the property to land Registry and perform the property Due Diligence process
- Assist and secure any bank transfers to public authorities and the seller
- Register the deeds at the Registry and Cadastral authorities
- Prepare the relevant contracts and providing legal representation for clients during the purchase procedure regardless of complexity
- Computation of tax
- Translate any official documents
- Compilation of all the relevant documents that confirm the purchase of the property and are required for the Residence Permit
- Submission of application for Residence Permit
- Collection and delivery of the Residence Permit
Moreover, the firm offers additional services, for example acts as a tax representative for its client, acts as depository of all the documents related to the property, manages the property to ensure income and other services.
Frequently Asked
Questions
- I am a foreign, non-EU-country national who owns or intends to acquire a property in Greece, either as a natural person or as a shareholder in a legal entity or having concluded a lease in a tourist property. Am I eligible to obtain a residence permit after purchasing the real estate? If I am, what is the relevant procedure?
- To which service must I submit my application for a residence permit? What are the required documents?
- Am I permitted to purchase more than one real estate property of lesser value than the 250.000 Euro threshold each but that, together, equal or surpass this sum?
- Am I obligated to prove the sources of my income?
- Does my residence permit also entitle me to seek employment or engage in financial activities?
- Which of my family members are eligible for a residence permit? Do my children have access to the Hellenic public education system? Do I have access to the national health system?
- Am I entitled to apply for Greek citizenship in the future?
- Am I permitted to travel within the Schengen area with my entry visa or residence permit?
- I already live in Greece under a residence permit, as a financially independent individual. Does the ownership of real estate entitle me to change my residence permit to a 5-year one?
- I have entered Greece on a tourist entry visa in order to purchase a property. Am I entitled to apply for a residence permit?
