Golden Visa
The Migration and Social Integration Code (Law 4251/2014, Government Gazette A’ 80) includes provisions that facilitate the stay of third-country investors whose investments have been designated as strategic investments, by providing extended time limits for the stay of these persons or of the representatives of investment entities and their associates.
More specifically, residence permits can be granted to third-country nationals and their family members who purchase real estate in Greece with a value exceeding €250,000 or €500,000 (depending on the location of the property).
The basic requirements for obtaining a golden visa are as follows:
- Legal entry into the country.
- Full ownership of real estate valued at €250,000 or €500,000, depending on the location of the property. In case of joint ownership, the ideal share of ownership must translate into an investment equal to or exceeding the minimum amount mentioned above. If the property is acquired through a legal entity, the individual must fully own the shares or corporate stakes. The right of residence is also granted in cases where the third-country national owns, either personally or through a legal entity, multiple properties with a total value at least equal to the aforementioned minimum thresholds. Beneficiaries also include third-country nationals who have entered into lease agreements for hotel accommodations or furnished tourist residences with a duration of at least ten years, provided that the minimum rental amount reaches €250,000. The upfront payment corresponding to the ten-year lease of the accommodation or tourist residence must be specified in the contract.
- The aforementioned third-country nationals may be accompanied by their family members, who are granted individual residence permits that expire simultaneously with the permits of the main applicants. Family members include spouses, the other partner in a civil partnership established in Greece, unmarried children under 21 years of age, and unmarried children of the main applicant’s or partner’s who are under 21 years of age, provided that legal custody has been assigned to the main applicant/partner for their children or to the main applicant/partner for the children of their partner.
Duration of residence permit for property owners:
- Five-year duration.
- Permit holders have free access and movement in all Schengen countries for a period of ninety (90) days per semester.
- The residence permit granted does not establish the right to access any form of employment. Only the exercise of economic activity is allowed, specifically as a company shareholder, member of the Board of Directors, or CEO of a company.
Possibility of Residence Permit Renewal for Property Owners – Duration and Requirements:
The residence permit can be renewed. Specifically, residence permits can be renewed for an equal duration and as many times as desired by the interested party. To renew the residence permit, the property must remain in the ownership and possession of the interested party, or the provided contracts/leases must remain valid.
Our office has significant experience in the process of obtaining the Golden Visa. We handle the entire process from start to finish, without requiring your involvement in the administrative procedures.