GOLDEN VISA PROGRAM
Residence Permits through Real Estate Ownership in Greece
Α. LEGAL FRAMEWORK
According to the provisions of the Greek Law under No. 4251/2014 (immigration law), as
amended, it is provided that:
1. By virtue of a decision of the General Secretary of the Decentralised Administration, a five
(5) year permanent residence permit is granted to a third country national who has lawfully
entered Greece with any type of visa or is lawfully residing in Greece, even if the title he/she
holds does not allow the alteration of its purpose;
2. Personally, holds in his/her full ownership, possession and use real estate property in
Greece. In case of co-ownership of real estate property of 250,000€, the right to receive a
residence permit is granted only if the owners of the property are spouses and their
ownership over the property is undivided. In all other cases of co-ownership, the right to
receive a residence permit is granted only if the co-ownership percentage of each owner is
250,000€.
3. The aforementioned third country national may be escorted by the members of his/her
family, who are granted, following a petition, individual residence permits which expire
simultaneously with that of the sponsor;
Family member means:
a- The spouse
b- The direct descendants of the spouses or either of the spouse, who are under 21 years of age
c- Parents of the main applicant and/or the spouse
4. The aforementioned residence permit may be each time renewed for the same period of
time, provided that the real estate property remains in the ownership and possession of the
third country national and the other conditions of the law are met. Periods of absence from
the country do not obstruct the renewal of the residence permit. Reselling the property
while the residence permit is valid to another third country national grants the new buyer
the right to receive a residence permit while the seller loses his residence permit.
Β. BENEFITS FOR THE INVESTORS
Please find below some of the benefits for the foreign investors in Greece:
- The purchasers can rent their properties and acquire an income in Greece
- Holders of the residence permit have the same benefits in health and educational
system, as the Greek citizens
- Holders of the residence permit can travel in all over Schengen countries, without
any other visa
- Holders of the residence permit can acquire the citizenship under the prerequisites
of the law
- It is not necessary for the applicants to reside in Greece. They have to enter into
Greece just once
Greece Pro Invest in partnership with Noble Villas real Estate office offers the full range of services for obtaining the Golden Visa and
managing each property:
- Finding the proper property according your criteria
- A team of lawyers for the inspection of real estate title deeds
- Notary for the achievement of the final contract of sale
- Immigration lawyer for the issuance of the residence permit card
- Managing the property after the purchase
- Renting the property
Kindly find below various procedure steps.
Procedure to gain Residence permit via Golden Visa Program
- Issuing V.A.T. number on behalf of the Applicant / Buyer.
- Issuing a Greek Bank account on behalf of the Applicant / Buyer.
- Selection of a property that meets the criteria of the residence permit
- Legal Property Documentation checks and Certificates collection (required for purchasing
contract)
- Completion purchasing property contract within 15 to 20 working days
- A few days after completion of the purchasing contract, the Applicant / Buyer will receive the
‘Temporary Residence card’ and may travel to Greece free (not need to issue visa).
- The Applicant / Buyer must visit Greece within 1 year using the ‘Temporary Residence card’ in
order to present biometric data (finger prints etc) at Greek Authorities and get the ‘Final
Residence Card’ (every 5 years renewal, as long as he possess the property of 250.000 euro
minimum value).
The above procedure may take place with no physical presence of the applicant, only by P.O.A. signed at
the Greek Embassy of his home country.
Our office may take care of everything. If the applicant choose to come to Greece and do all the
procedure while his presence in Greece, will be needed 3 working days (issuing VAT, bank account,
down payment to Seller etc).
List of required documents for issuing a Greek bank account
- If you own a company, provide data of your company (what kind it deals with and an official
document which proves that you are the C.O.)
- If you are self–employed, provide a statement of your annual incomes, signed and stamped
from your accountant or from your tax office.
- A Letter of your home town bank, proving that you cooperate with the Bank
- Official documents proving your permanent address in your home country, for residence and
work (can be ‘home town’ telephone bill balance (land line or mobile statement, mentioning
your name)
- A full copy of your passport
- VAT number issued in Greece (our office will issue it)
- A Greek mobile number (our office will issue it)
All documents must be officially translated in English (by official translator company).
Necessary Documents from Home Country for Golden Visa (after purchasing contract)
If apart from the main applicant, there are family members included in the Golden Visa:
- Spouse: Marriage certificate or family relationship certificate, certified by the Greek Consulate
- Children: Birth certificate or family relationship certificate, certified by the Greek Consulate
- Parents of the main applicant or the spouse: Birth certificate or family relationship certificate,
certified by the Greek Consulate.
Subsequently, all the above documents will be sent to the translation center in Greece, in order to be
translated into Greek.
Please note that if in the passports of the applicants, the birth city is not referred, a birth certificate or
any other official document which proves the birth city is necessary.
This document shall be certified by the Greek Consulate.
Additional Documents (provided in Greece)
- 3 Photos per person (in CD)
- Medical Insurance contract valid for 1 year (per person) issued in Greece
- Contract of purchase and relevant documents provided by the Notary Public
- Photocopy of the complete passport (each person)
Expenses based in a value of 250.000 €:
- 8.250 (3,3% of the 250.000) for Lawyer, Notary and Transcription to the Land Registry (A)
- 7.500 (3% of the 250.000) transfer tax paid to the Government (B)
- 5.000 (2% of the 250.000) real estate fee (C)
Total 20.750 € (The costs A, B are adjusted according to the Contract Price, C is adjusted according to the
Final Selling Price)
Golden Visa issuing Fees:
- 3.000 € for the Buyer – main applicant (2.000 payment to State + 1.000 Lawyer fee)
- 1.150 € for any adult, except the Buyer (150 payment to State + 1.000 Lawyer fee)
- 500 € for each child under 21 years (Lawyer fee)
- 16 € per applicant (payment to State)
- 120 € per person for Medical Insurance valid one year (obligatory)
- 150 € for POA (for immigration use)
Management Supervision
- Handling of utility bills of the property (electricity, water etc.)
- Our office will represent the owner in the assemblies of the building and will respond in 24 hours
communication for any potential problem of the property.
- Legal procedure for issuing the accounts of National Electrical Co and National Water Co to the
new tenant’s name.
- Overview of transaction and detailed coordination (overall coordination of the rental contract -
transaction) as the final contract will be effected in our office.
- Present the rental contract to Tax office with cooperation of the accountant.
- Keeping updated monthly invoices and payments from tenant to the owner of the property for
tax use, as local Law requires.
- Notification and oversight of common fee payments regarding the property apartment.
- Charges fee for all the above is 600 euro annually per property plus 24% VAT
- Charges fee for rental brokerage is a monthly rental plus 24% VAT
- Charges fee for accountant service is 250 euro annually plus VAT (no matter how many
properties you own).
For any further clarification please don’t hesitate to contact us.
