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