A comprehensive guide to acquiring real estate in Greece and linked to the Greece Golden Visa Program.
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Get a European residency in return for a Greek property investment of a minimum €250,000 in just ninety days. The most attractive permanent residency scheme in Europe.
The Greek Golden Visa program has attracted many non-EU citizens who would like to settle in Greece and gain the right to travel freely within the European Union.
Our qualified advisers will help you create an investment strategy on providing full expertise and preparation throughout the whole process, to ensure that you avoid obstacles, delays and incomplete documents for getting the right property for your Golden Visa Programme, saving you money in the long run and relieving you of the stress of such a time-consuming process.
In recent times, one can easily observe the rise in property prices - whether for rent or purchase - which is based on the increased demand for these properties - mainly from investors. Greece, in an effort to develop its economy, is creating incentives for entrepreneurs - foreign or domestic - to invest in Greece and in its real estate sector.
Golden Visa is one of these incentives. It was introduced by Law 4146/2013 in conjunction with Law 4251/2014 and its amendments, as stated in Government Gazette A'91/22.05.2018 and in conjunction with Law 4635/2019, Government Gazette 167/A/30.10.19, it is granted to third country nationals for two reasons:
either after acquiring real estate worth 250,000€ and more, with a term of up to 5 years
or for investors of capital from €3,000,000 - €100,000,000 for infrastructure projects or Greek companies, with a term of up to 10 years.
In both cases, the term years are renewable, subject to the conditions set by law.
First countries in real estate markets for the Golden Visa, are China, Turkey, Russia and Egypt. The acquisition process is not particularly complicated, however many prospective buyers trust real estate agencies to complete the process. Experts in the field, such as Mr Christos D. Nikolaou, a consultant on real estate issues for major investments, argue - and not without reason - that the very nature of the process requires experience and familiarity with the subject matter. Undoubtedly, the undertaking of these procedures by specialized real estate agents with the appropriate circle of associates from lawyers and notaries and possessing the necessary knowledge and experience, regarding the issuance of the required certificates and applications, ensures both the process of issuing the Golden Visa, as well as its quality.
Experts with experience and professionalism in the field, adhere to strict protocols for the completion of the procedures and the final cost, as it has been observed that in many cases of independent buyers -mainly- , the objective value is less than the 250,000€ set by law, with this difference being due to the involvement of many intermediary professionals and non professionals.
It is a type of residence permit with additional benefits for third-country nationals and their family members. It is an investment scheme that guarantees them permission to enter Greece and other countries subject to the Schengen Treaty (Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Liechtenstein, Luxembourg, Malta, Norway, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland and Switzerland).
For countries such as Greece, Spain, Malta, Latvia, Latvia, the Netherlands, the granting of this residence permit is exclusively dependent on either the purchase of real estate or the investment of capital. Moreover, it is worth noting, as there is often confusion between them, the Golden Visa residence permit does not grant the right of access to any form of work. The only exceptions are economic activities in the capacity of a shareholder of a company, a member of the Board of Directors or the CEO of a company.
The requirements for those interested in purchasing or acquiring real estate in accordance with Law 4251/2014 a.20 par. b (other reasons for granting a residence permit) are as follows:
Legal entry into the country with any entry visa
Full ownership, possession or undivided ownership of one or more properties, with a minimum total value of 250,000€ or more. In case of co-ownership of property up to 250.000€, the right to the residence permit is granted only if the other co-owner is a spouse and they own the property equally.
If he/she has full ownership, possession and occupation of a property in Greece through a legal person, he/she must own the shares or partnership shares in the property in full.
Has concluded, at least, a ten-year lease of hotel accommodation or tourist furnished accommodation in complex tourist accommodation, according to Law 4002/2011 a.8 par.2
Has concluded a 'Temporary Lease Contract and Regulation of Related Matters', in accordance with the provisions of Law 1652/1986
The minimum amount of the above cases is 250.000€ and must be paid in full at the time of signing the contract. Β (3)).
The special privilege that the third country national probably gains, but in the long run and after all the required conditions have been met, is that of Greek citizenship and the Greek-European passport. However, immediately, the holder enjoys the privileges for:
Permanent residence in Greece for 5 years (obviously with the right of renewal under the conditions of Law 4146/2013 a.6 par.2, to continue to have full ownership, possession etc. of the property)
Right to enter Greece for 5 years
Right of free movement and residence for 180 days/year in countries belonging to the Schengen Treaty, whether inside or outside the European Union
Access to education like any other Greek citizen
In addition to him/her, the members of his/her family have the right to stay in Greece with the relevant rights, as defined by Law 3386/2005 a.54 (and the relevant amendments by Law 4540, Government Gazette A' 91/22.05.2018, a.31). The family members, acquire their own, separate Golden Visa, by submitting a separate application for each of them.
Residence permit for the investor who buys a land plot with the purpose of raising a building within it.
Golden Visa, is also granted to persons interested in purchasing land plot, with the purpose of erecting a building within it. A prerequisite is that the sum of the value of the purchase contract and the contractor's agreement for the construction of the building must be at least 250,000 euros.
In order to register a bidding you should first have a bidders account in the platform. To create a bidding account you will need to have a valid cell phone number and a valid credit card. After creating a bidder account then go to the page of the property you are interested for bidding and place the amount you want to bid by clicking on the “Place a Bid” button.
It is a good idea to get a pre-approval from your bank before bidding on any of the properties listed on the real estate website. If something goes wrong, such as a loan falling through or a change of mind, you will still have to pay the website's commission fee. So be sure to talk to your banker for the bank's terms of approval before placing any bid.
There are several factors that buyers should consider before making an offer. Each homebuyer is different, requiring an individualized assessment of needs and wants. The property should be located near your place of employment, make sure that it's located close to your workplace so you don't waste time commuting.
All parties involved in the real estate industry have a vested interest in promoting safer investments. Real estate agents who keep up with the latest online technology are at an advantage over their competitors. Our partners include real estate agents, real estate consultants, real estate developers and other related companies.
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