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 was granted to non-EU citizens and their families and it attracted hundreds of non-European citizens such as China, Turkey, Lebanon, UAE and other third countries.
Due to the provisions of the new law 5100/2024, new investment options are provided to the third country citizens:
- For the Region of Attica, the Regional Units of Thessaloniki, Mykonos, and Santorini, and the islands with a population of more than 3,100 inhabitants, the minimum value of real estate at the time of acquisition is 800,000 euros. For all other regions of the country, the minimum value of real estate at the time of acquisition is set at 400,000 euros. In both cases, the investment must be carried out in a single property with a minimum surface area of 120 square meters.
- In cases where the investor converts a commercial property (such as industrial buildings or other non-residential properties) into a property of residential use, the minimum investment required is 250,000 euros. This applies regardless of the property’s location or surface area.
- In cases where buildings are classified as listed because of their historical value, the minimum investment threshold remains at 250,000 euros. This applies regardless of the property’s location or surface area.
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 investment in financial products
- Fixed Term deposit of at least 500,000 euros with a Greek credit institution
- Purchase of Greek government bonds, with a value of at least 500,000 euros and with a remaining maturity, at the time of purchase, of at least three (3) years, through a credit institution established in Greece
- Capital contribution, in the amount of 500,000 euros at least to a company which has its registered office or establishment in Greece for the acquisition of shares for the increase of its share capital, or of bonds during the issuance of a bond loan, which are admitted for trading on regulated markets or multilateral trading facilities operating in Greece
- Capital contribution, in the amount of 500,000 euros at least to a Public Limited Real Estate Investment Company (REIC), intended to invest exclusively in Greece for the acquisition of shares for the increase of its share capital
- Capital contribution, in the amount of 500,000 euros at least to a Closed-end Investment Company, or to a Closed-end Mutual Fund
- Purchase of shares with an acquisition value of at least 350,000 euros in a mutual fund, which is established in Greece or in another country and is intended to invest exclusively in shares, corporate bonds or Greek government bonds, which are admitted to trading or constitute an object of trade on regulated markets or multilateral trading facilities that operate in Greece
- Purchase of shares or stocks, with an acquisition value of at least 350,000 euros, in an Alternative Investment Fund (AIF) established in Greece or in another Member State of the European Union and which has the objective of investing exclusively in Greece.
- Purchase of shares, corporate bonds or bonds of the Greek government, which are imported for trading or are traded on regulated markets or multilateral trading facilities operating in Greece, with an acquisition value of at least 800,000 euros.
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
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.