Helen Loverdou

Golden Visa Program/ Property Investment

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Investment of 800/400k/250k:

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 EUR. For all other regions of the country, the minimum value of real estate at the time of acquisition is set at 400,000 EUR. The investment must be carried out in a single property with a minimum surface area of 120 square meters.

EXCEPTIONS:

1. Conversion from commercial to residential: In case the Golden Visa property is converted from commercial (i.e. industrial etc.) into residential use, the minimum threshold remains 250,000 EUR, regardless of the location and the size of the property. The above investment is carried out on a single property, and the conversion of the use must be completed before submitting the golden visa application.

2. Restoration of listed buildings: In case the Golden Visa property is located in listed buildings (i.e. buildings with historic interest under special protection) that are to be fully restored or reconstructed by the Investor, the minimum threshold remains 250,000 EUR, regardless of the location and the size of the property. The above investment is carried out on a single property, and the full restoration is a prerequisite for the first renewal of the golden visa after five (5) years. The property cannot be sold until restoration is complete. Failure to restore will result in a revoked residence permit and a 150,000 EUR administrative fine.

TRANSITIONAL PERIOD:

However, investors may apply under the current 250k minimum threshold, provided that they pay a 10% deposit by August 31, 2024, and finalize the investment by December 31, 2024. In case the purchase of the property is not completed on time, the investor is allowed to complete their investment in another property no later than April 30, 2025.

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5 Year Residence Permit in Greece for Investors with deposit at 500.000 euros

Imminent New Golden Visa Program in Greece beyond the property sector, for investors with de

posits of at least 500,000 euros in a time deposit at a Greek bank.

The Golden Visa entails a five-year residence permit that allows holders and their families to stay anywhere in the European Union.

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​Civil Partnership & Resident Permit

Residence permit is issued to 3rd country nationals who are partners of EU citizens in Greece provided that there is evidence & documents that prove their relationship. Civil partnerships, first legislated in 2008, is  extended to same- sex couples.

According to the Greek Law 4387/2016, persons entering into a civil union, regardless of their gender, enjoy the same rights with married couples, concerning social insurance and benefits of the social security system and welfare legislation.​

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Digital Nomad Visa

The 1 year Digital Nomad Visa can be granted to any foreigner, non-EU citizen, who wishes to work remotely from Greece and is: A) Self-employed or B) Dependent employee, for a period of up to twelve (12) months. 

The applicant must provide evidence that he/she has sufficient resources at a stable income, to cover his/her living expenses during his/her stay in Greece. The amount is set  at 3.500,00 euros per month and is proved 1) by the employment contract or 2) by bank statements. 

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FIP Visa

Concerning the Financial Independent Visa Program:

The 3 year residence permit (renewable for 3 years) is granted to a third-country national who in possession of sufficient resources corresponding to a stable annual income to cover the living expenses (stable income means pension, bank accounts- not salary). The applicant must first receive a visa D as financial independent from the greek embassy. 

The sufficient resources must be equal to the minimum amount of 2.000 euros per month (24.000,00 euros  per year). The applicant may be accompanied by family members.

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Applying for the GV permit:

 

Although the third-country nationals may apply for a residence permit until the expiration of their special visa, it is recommended that they apply as soon as possible after their arrival in Greece. Furthermore, the following documents should be submitted:

 

Documentation for 1st issuance (5 years):

1. Application form in two (2) copies.

2. Three (3) recent coloured photographs.

3. True copy of valid passport or equivalent travel document recognized by Greece, together with valid visa.

4. Copy of the contract for the purchase of immovable property or properties.

5. Certificate issued by a Greek Notary Public that the purchase contract meets the requirements of law.

6. Certificate of Registration of the contract, issued by the competent Land Registry.

7. Certificate that the applicant have applied to a medical insurer for full coverage of his medical care and expenses.

 

Procedure after the submission of necessary documentation: 

 

After the submission of the necessary documentation, the competent Greek authorities provide the applicants with a certificate of receipt proving  that they have submitted all necessary documents for initial issuance or renewal of resident permit.

Upon the receipt of the above certificate, the third-country national is permitted to stay in Greece until the authorities reach a final decision on his application for the resident permit. The third-country national is allowed to travel to his homeland and return more than once, according to a decision of the Ministry of Citizen Protection.

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Family members.

The third-country national, who owns or intends to purchase immovable property in Greece, may be accompanied by his family members (spouses, children up to 21 years old. parents and parents-in-law).The family members obtain an individual residence permit which expires together with the residence permit of the person who supports them.

 

Renewal of the residence permit:

The above residence permit shall be renewed for the same duration (five years), provided that the immovable property remains as above to the applicant’s full ownership, use and possession and that the other requirements of the law are being met.

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