Golden VISA Greece Program - Buy House in Greece

By Valmas & Associates - Greek Law firm

Main Advantages for Investors:

250,000 EURO per family

Travel throughout Schengen without any need for Visa

All family members including children up to 21, spouses and their parents

Permanent Residency from the first day of the application

VISA free travel to all Schengen countries - No need to fly from Greece to another Schengen country

No need to stay in Greece to retain the permit, only keep ownership

Criteria

To qualify for the program, applicants must meet the following preconditions:

REAL ESTATE INVESTMENT RESIDENCE:

Applicants should invest in Real Estate €250,000 for a residential property, or equivalent investment in either a time-sharing agreement with a duration of at least 10 years or lease of at least 10 years of hotel facilities or furnished homes in combined tourist facilities. This way they shall be entitled to the Greek Golden Visa.

Services Offered

1. Property Selection Assistance

Unlike real estate agencies that sell properties of a smaller value for 250,000 EUR we ensure that you buy a property that is worth equal or more than 250,000 EUR. We ensure that the titles of the property you decide to purchase are fully legitimate and clean with all relevant documents up to date (building permits, titles of ownership, architectural blueprints, energy certificates etc).

Also we can search for properties from a series of independent private sellers and realtors sometimes helping you avoid paying realtors fees which amount to 2 percent of the property value! This means you are not locked with one realtor with limited selection options. Instead you are free to choose from a vast array of options.

We will negotiate on your behalf so that you get a higher value property for a lesser amount.

Most realtors will sell cheaper houses at bloated prices. We ensure you avoid getting a property that will not be worth the amount you spent.

It is our policy to advise against properties that are overpriced or not within the context of a fair commercial value.

2. Property Purchase Transaction

Our law firm will prepare the necessary certificates for the completion of the sale.

In essence,

  • it will issue a tax registry number on your behalf
  • it will assist you with opening a bank account in a Greek bank where the funds need to be transferred to before the purchase is made
  • it will ensure the ownership titles of the property in the Land Registry Office and the Cadastre are clear of any burdens, encumbrances etc.
  • it will issue the necessary certificates for the purchase
  • it will co-draft and proceed with all required notary deeds for the completion of the purchase

3. Residence Permit Related Services

Once the purchase procedure has been completed, we shall proceed with the necessary actions for the issuance of your residence permit.

  • We will gather all relevant documents related to the purchase of the property, that are required for the issuance of the residence permit
  • We will submit the application to the public authorities and collect the temporary permit
  • We will be in contact with the authorities during all stages of your application until the issuance of the final residence permit
  • We will receive and forward the permit to you and your family

Procedure

Greek Golden Visa Issuing  (Real Estate Investment) - Golden Visa Greece Procedure

  • Application is submitted for an entry VISA along with a Letter to the Consular office by our firm and a series of documents and certificates.
  • We provide assistance in obtaining Tax ID and opening a Greek bank account in the name of the client for the purposes of the real estate purchase.
  • We undertake all aspects of the property purchase including checks for burdens and liens on the property ensuring you get a clean title of ownership.
  • We assist and supervise the drafting of the property sale agreement
  • We collect all certificates from the Land Registry, Cadastral Authorities, Notaries and guide you through the final documents required for the Permit.
  • We submit all applications to the relevant authorities for the issuing of your Residence Permit.
  • We receive the 5 year Permit on your behalf.
  • Every 5 years we submit a renewal application to the authorities on the basis you possess the property at the time of renewal.

F A Q.

1. Can i share my investment with another individual?

Only spouses can share the investment and jointly own the property of a total value of 250.000 EUR.

In all other instances of shared ownership, the right of residence is granted only if the amount invested by each co-owner is a minimum 250,000 EUR.

For example, two families can have two separate permits for all members of each family only if they purchase jointly a property of value equal or higher to 500,000 EUR.

2. How do i issue a VISA to visit Greece?

Documents Required:

  • 3 color passport photos
  • Passport
  • Travel health insurance
  • Proof of professional capacity
  • Bank statements of at least 250,000 EUR.
  • Income Tax Declaration that has been issued in the last year.
  • Hotel booking to prove the accommodation of the applicant during the visit to Greece.
  • Round trip flight booking.
  • Invitation letter from our law office*
  • Visa application

* In order to issue the invitation letter we need :

1. Passport scan with personal details, showing previous visas

2. Bank statement showing minimum 250,000 Euros or equivalent currency

3. Permanent residency address

4. Proof of professional capacity

No need for a Visa in order to visit Greece if you carry a passport from the following countries :

Vatican City, San Marino, Andorra, Antigua & Barbuda, Argentina, Australia, Venezuela, Brazil, Guatemala, El Salvador, USA, Japan, Israel, Canada, Costa Rica, Croatia, Malaysia, Mauritius, Mexico, Monaco, Barbados, Bahamas, Brunei, New Zealand, Nicaragua, South Korea, Honduras, Uruguay, Panama, Paraguay, Seychelles, Singapore, Chile.

3. Can i obtain more than one properties?

Yes and you are entitled to the residence permit as long as their combined value is equal or greater to 250,000 EUR.

4. Which family members are entitled to the Residence Permit?

  • Spouses
  • Children up to 21 years old (they can renew for another 3 years once they reach 21)
  • Parents of both spouses

5. Who deals with the process for the permits?

Our law office does handle the whole process. We handle all the necessary paperwork on behalf of the applicant:

a. The application process for the initial residence permit,

b. The submission of any additional required documentation that may be required.

c. The collection of the receipt of the residence permit.

We also deal with all aspects regarding the purchase of the property including drafting of the contracts with a notary, checking the titles for problems, burdens, encumbrances.

Under current law you will need to provide bio-metric data (fingerprints) to the authority so we shall escort you there.

As soon as we submit the residency application you will receive a confirmation receipt that serves as a one year provisional residency permit (a blue certificate). You can reside legally in the country for the duration of the confirmation receipt (i.e. one year) and you are entitled to all the benefits of the final permit. In the mean time (two to four months) you will receive the final residency permit certificate.

6. Where can i travel with my residence permit?

You may travel with your passport and the residence permit to all countries that are part of the European Union, as well as, to all countries that are in the Schengen Area:

EU Countries you may freely travel to and from:

Austria, Belgium, France, Germany, Denmark, Estonia, Spain, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Hungary, Poland, Portugal, Slovakia, Slovenia, Sweden, Czech Republic and Finland.

Schengen Countries you may freely travel to and from:

Iceland, Norway, Switzerland and Liechtenstein.

Important Note: After the residence permit has been issued, you may also travel to any Schengen country directly from your country. You do not need to go through Greece first.

7. What are my tax obligations as a property owner in Greece?

You file an annual tax report. All property owners must do so.

This means you will pay a yearly property tax. For a standard 3 bedroom flat in Athens and its suburbs the annual tax is approximately 500 - 1000 EUR per year. Greek real estate ownership cost is among the cheapest in Europe.

If you rent your property you will pay approximately 15% towards income tax.

Read more.

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