Golden Visa Law
Our firm has a great experience and deep expertise in Real Estate and Investment Migration. We acknowledge our international clients’ needs and we have established a one- stop-shop office which provides a full package of services for the acquisition of a property and the issuance of a residence permit in Greece as foreign investors.
Due to the knowledge, as well as, the high level of success in handling cases concerning “Real Estate & Golden Visa Process” we are proud to be legal advisors to large companies operating in the sector of investment in Greece.
Our key areas of expertise and experience:
- Provide assistance with negotiations
- Conduct the real estate legal Due Diligence
- Draft PoA, preliminary and final contracts
- Open a bank account in a Greek bank
- Conclude official property contracts in-house
- Ensure secure transfer of funds
- Handle all related taxation issues
- Act as permanent tax representative annually
- Act as a depository of all public documents
- Submit the applications and the files in the immigration office for the issuance and renewal of the permanent residence permits
Greek Golden Visa Program
The Greece Golden Visa Program is considered one of the most affordable residence- by-investment programs that provide access to Europe and other benefits as well.
In 2013, the Greek Golden Visa law was published, where a permanent residence permit is granted to non-EU citizens and their families, who acquire an immovable property in Greece, the value of which exceeds 250,000 Euros. Since then, there are many improvements to the Greek Golden Visa law, which is an international success that has already attracted hundreds of non-European citizens such as China, Russia, Turkey, Lebanon, and other third countries.
Due to the provisions of L. 5007/2022, the minimum value of the property’s value has been increased from 250,000 Euros to 500,000 Euros in certain areas of Greece such as regional units of northern, central and southern Athens, in the Municipality of Vari-Voula-Vouliagmeni, in Thessalonki, in Mykonos and Santorini, where the foreign investors has the right to invest in one property of this value.
The Golden Visa process requires not only specialized legal advice but also independent and unbiased legal advice, in order to avoid any conflict-of-interest situations. The potential buyers have to appoint their own independent legal advisor in order to keep them safe and harmless as far as the real estate transaction is concerned.
Types of property investment
- Real estate property owned by the non-EU citizen personally (second handed or new built or plot or commercial properties)
- Real estate property owned by a legal entity, of which the non-EU citizen holds the entirety of shares or share units (second handed or new built or plot or commercial properties)
- A 10 year at minimum lease of hotel accommodations or furnished tourist accommodations (houses) in tourist accommodation complexes
- A time-sharing contract
Types of investment in financial products of a minimum value of 400,00 Euros
- Capital contribution, amounting to at least four hundred thousand (400,000) euros, to a company head - quartered or established in Greece, except for Holding Companies and Real Estate Investment Companies, for the acquisition of stock in a capital stock increase or bonds upon the issuance of a bond loan, which are listed for trading in regulated markets or multilateral trading facilities operating in Greece.
- Capital contribution, amounting to at least four hundred thousand (400,000) euros, to a Real Estate Invest - ment Company (REIC) under article 21 of Law 2778/1999 (OJHR A-295), whose object is to invest exclusively in Greece, for the acquisition of stock in an increase of its capital stock.
- Capital contribution, amounting to at least four hundred thousand (400,000) euros, to a Venture Capital Company (VCC) under article 5 of Law 2367/1995 (OJHR A-261) for the acquisition of stock, or capital contribu - tion to a Venture Capital Fund (VCF) under article 7 of Law 2992/2002 (OJHR A-54) for the acquisition of shares, provided that the object of the said Alternative Investment Funds (AIF) is to invest exclusively in companies headquartered or established in Greece.
- Purchase of Greek Treasury bonds, with an acquisition value of at least four hundred thousand (400,000) euros and a residual duration, at the time of purchase, of at least three (3) years, through a credit institution established in Greece, which is also their custodian.
- Term deposit of at least four hundred thousand (400,000) euros, in a domestic credit institution, for at least one year, with a standing renewal order.
- Purchase of shares of an acquisition value of at least four hundred thousand (400,000) euros in a mutual fund, which has been established in Greece or another country and whose object is to invest exclusively in stock, corporate bonds or Greek Treasury bonds that are listed for trading or traded in regulated markets or multilateral trading facilities, operating in Greece.
- Purchase of shares or stock of an acquisition value of at least four hundred thousand (400,000) euros in an Alternative Investment Fund (AIF), which has been established in Greece or another Member State of the European Union and whose object is to invest exclusively in real estate in Greece, provided it is included, upon its request, in the list compiled by the Foreign Funds Directorate of the Ministry of Development and Investment in cooperation with the Hellenic Capital Market Commission
Golden Visa Program Beneficiaries
- Main applicant
- Main applicant's spouse
- Children of the spouse or either of the spouse under 21 years old
- Main applicant's parents and/or spouse
When children will turn 21 years old, they can apply for a 3-year independent residence permit, up until the age of 24 years old.
Same-sex spouses can also qualify, provided that they have signed a civil partnership agreement in front of a Greek Notary.
Parents and parents in law always qualify with no further conditions.
Investors Benefits
- Travel in all Schengen countries
- Rent the property and get an income
- Establish their own company in Greece
- Enjoy full access in the health and educational system
- Get the European residence permit and citizenship under the requirements of the law
When children will turn 21 years old, they can apply for a 3-year independent residence permit, up until the age of 24 years old.
Same-sex spouses can also qualify, provided that they have signed a civil partnership agreement in front of a Greek Notary.
Parents and parents in law always qualify with no further conditions.