GREEK GOLDEN VISA PROGRAM : UPDATES ON PERMANENT RESIDENCE PERMIT FOR INVESTORS IN REAL ESTATE OR SECURITIES OR BANK DEPOSITS IN GREECE

GOLDEN VISA
Posted on : 02 Apr 2021

 

IMPORTANT UPDATES:

1- It is now possible to apply for the Golden Visa without entering Greece, through a Power of Attorney.

2- The payment of the price of the property may be effected also by the spouse and/ or relatives up to the second degree of the purchaser (e.g. the parents may pay the purchase price for the property). The payment may also be effected by using a credit or debit card.

3- Additional authorities have been appointed for the filing of the application for residence permit for investors in real estate, in order to ensure a speedy process.

 

The Greek Golden Visa Program is available to the following investors:

•    Owners of real estate property in Greece

•    Investors in securities or bank deposit in Greece

•    Persons having entered into a timeshare agreement or a lease for hotel accommodations or furnished touristic residences in a combined tourist facility in Greece

 

Benefits provided by the Greek Golden visa prοgram:

√  Greek residence permit valid for 5 years, renewable.

√  Residence permit for family members, including children up to 21 years old and parents of the applicant and his/ her spouse.

√  No residency requirements, i.e. the applicant and family members are not required to stay in Greece for any minimum amount of time.

√  Visa- free travel to all Schengen member states, for durations up to 90 days per 6-month periods.

√  Fast track procedure for obtaining the residence permit.

√  Investment in real estate in Greece, which may be leased and provide rental income or in summer residence or tourist facility.

√  The minimum investment in real estate is only 250 000 euros, one of the lowest in Europe.

√  Possibility to reside in Greece permanently for the duration of the residence permit, which may be renewed for as long as the criteria are fulfilled, and to have access to public health and education, in the same terms and conditions as Greek citizens.

 

PROCEDURE :

Step 1:       

Issuance of Power of Attorney by the applicant, before the Greek Consular Authorities at his/ her place of residence.

Step 2:      

Purchase of the property or entry into lease/ timeshare agreement and collection of the required supporting documentation. This may be effected by the attorney, i.e. it is not required that the applicant travels to Greece.

Step 3:

Submission by the attorney of the documents to the relevant authority and payment of the application fee amounting to € 2016. For family members above 18 years old the fee is €166.

It is worth noting that the applicant is not required to submit the documents in person or to travel to Greece.

Step 4:        

Receipt of a document confirming submission of the application. The said document is valid for one year. The applicant may use it as temporary permit until the issuance of the final permit. This document will allow the applicant to travel freely to and from Greece. However it does not provide the applicant the right to travel to any other country within the Schengen area.

Step 5:        

Within 12 months of receipt of the confirmation, the applicant must travel to Greece in order to provide his/ her biometric data (fingerprints).

Step 6:         

The competent migration authorities examine the documents and issue the relevant residence permit.

Provided that all documents and biometric data are submitted, the examination by the authority is very swift (usually 1-2 months).

 

At Christodoulos G. Vassiliades Law Firm we have vast experience in the provision of services related with the Greek Golden visa program, and we always aim to provide the highest standard of legal services to international clients who wish to invest projects in Greece.

 

 

FOR ANY FURTHER INFORMATION AND/ OR CLARIFICATION PLEASE FEEL FREE TO CONTACT US

*This document does not amount to professional legal advice as it is only intended for information purposes.