Requirements for the issuance of «GOLDEN VISA»
In order for a third country citizen to obtain a «GOLDEN VISA», the following requirements must be met:
- He shall have entered Greece legally.
- He shall have the full ownership, possession and occupancy or a percentage of undivided ownership of one or more real estate property/ies in Greece, the total value of which should amount to at least two hundred and fifty thousand euros (€250.000).
- Alternatively, he shall have signed a timeshare agreement (lease) for a minimum of 10 years for hotel accommodations or furnished tourist residences in integrated tourist resorts according to article 8, paragraph 2 of Law 4002/2011 (Government Gazette 180 A’), provided the minimum cost of the lease also amounts to two hundred and fifty thousand euros (€250.000)
- Alternatively, he shall purchase a plot of land or acreage and proceed to erecting a building, provided that the cumulative value of the land purchase and the contract with the construction company also amounts to at least two hundred and fifty thousand euros (€250,000).
- In cases of joint ownership, where the value of the property is €250.000 or more, the residence permit is only granted if the owners are spouses with undivided ownership of the property. In all other cases of joint ownership, the residence permit is only granted if the amount invested by each of the joint owners is at least €250.000.
- If the owner has acquired the property through a legal entity, the applicant shall own 100% of the company shares.
The holder of «GOLDEN VISA» is entitled to extend all the benefits of «GOLDEN VISA» to the members of his/her family, who will each acquire a separate «GOLDEN VISA», by submitting separate applications.
The following are considered members of his/her family:
- The spouse
- His/her children, as well as the spouse’s children
- His/her parents, as well as the spouse’s parents
In all cases outlined above, the value of the real estate property shall be determined based on the value of the property, or the lease, indicated in the contract of purchase. It should be made clear that the value of the property, according to law 4251/2014, is the amount which has been paid for its purchase, and which is stated explicitly in the contract. The objective, or assessed, value of the property is not relevant, unless it corresponds to the amount which was, according to the contract, paid for the purchase of the property.