GOLDEN VISA ELIGIBILITY REQUIREMENTS
To qualify for a Golden Visa in Greece, individuals must fulfill the following criteria:
- Legal Entry into Greece:
- The applicant must have entered Greece legally.
- Real Estate Ownership:
- The applicant must have full ownership, possession, and occupancy or a percentage of undivided ownership in one or more real estate properties in Greece.
- The total value of the property/ies should be at least €250,000. However, starting from 01/05/23, the minimum property value is increased to €500,000 for specific regions, including the North, Central, and South Sectors of Athens, the Municipality of Varis – Voulas – Vouliagmeni, the Municipality of Thessaloniki in the Region of Central Macedonia, and the Regional Units of Mykonos and Santorini. For other regions, the minimum property value remains at €250,000.
- Timeshare Agreement Option:
- Alternatively, the applicant can sign a timeshare agreement (lease) for a minimum of 10 years for hotel accommodations or furnished tourist residences in integrated tourist resorts, as per article 8, paragraph 2 of Law 4002/2011 (Government Gazette 180A’).
- The minimum cost of the lease should also be €250,000. However, starting from 01/05/23, the minimum total rent value for leases of hotel accommodation or tourist residences is increased to €500,000 for specific regions, as mentioned earlier.
- Land Purchase and Construction Option:
- Another alternative is purchasing a plot of land or acreage and proceeding to erect a building. The cumulative value of the land and the construction contract should be at least €250,000.
- Joint Ownership Conditions:
- In cases of joint ownership where the property value is €250,000 or more, a residence permit is granted only if the owners are spouses with undivided ownership. In all other cases of joint ownership, a residence permit is granted only if the amount invested by each joint owner is at least €250,000.
- Starting from 01/05/23, if the investment is made through the purchase of an undivided co-ownership interest in real estate, the minimum value is set at €500,000 for specific regions, and for other regions, it remains at €250,000.
- Legal Entity Ownership:
- If the property is acquired through a legal entity, the applicant must own 100% of the company shares.
Application submission via a representative, without the requirement of prior entry into Greece.
Non-EU citizens who have invested through any of the three options of the Greek Golden Visa program can seek a residence permit by appointing a proxy, without the need to visit Greece beforehand. The Power of Attorney for appointing a proxy must be executed before a Greek Consular authority. The non-EU citizen is required to enter Greece within 12 months from the date of the application confirmation receipt to submit their biometric data.
The legal department at ALPHA GR Investment offers a range of services, including:
- Issuance of Travel Visas: Facilitating the process of obtaining a travel visa to visit Greece, involving thorough preparation and research for successful issuance.
- Assistance through Physical Presence: Providing support through in-person assistance, either by our associates on-site or by arranging interpreter/translator services if required.
- Tax Number Issuance: Assisting in obtaining a tax number in Greece.
- Bank Account Opening: Facilitating the opening of a bank account in Greece.
- Residence Permit Applications: Handling the submission of applications for residence permits and overseeing the entire process.
Note: Golden Visa holders have the right to extend the benefits of their Golden Visa to immediate family members, each of whom can acquire a separate Golden Visa through individual applications. Immediate family members include:
- The applicant's spouse.
- Children of the applicant and their spouse.
- Parents of the applicant and their spouse.
In all the cases mentioned above, the valuation of real estate is based on the amount paid for its purchase, as explicitly stated in the purchase contract, as per the provisions of law 4251/2014. The objective or assessed value of the property is not relevant unless it corresponds to the contractually agreed-upon purchase amount.