Goldenvisa
The Golden Visa program in Greece has gained attention as a favorable option for non-EU citizens seeking residency through investment. This initiative allows individuals to secure a residence permit by meeting specific criteria, such as investing in real estate or other eligible ventures. With the allure of a renewable permit every five years, the Golden Visa in Greece presents an intriguing opportunity for those considering establishing a long-term presence in the country. The eligibility requirements and various pathways available make this program worth exploring for those interested in residency options beyond traditional means.
Eligibility Criteria for Golden Visa
To be eligible for the Golden Visa program in Greece, individuals must meet specific criteria related to real estate ownership or lease agreements, as outlined by the Greek government. The program is designed to attract citizens of Third Countries who wish to invest in Greek real estate, offering them the opportunity to obtain a Residence Permit renewed every five years.
Beneficiaries include individuals who own real estate in Greece valued at a minimum of €250,000, those who have entered into at least a ten-year lease of hotel accommodation or tourist furnished houses, and those who have full ownership of real estate purchased before a specific date with a value of €250,000. Additionally, individuals who purchase a plot of land and construct a building or enter into a timeshare contract may also be eligible.
Family members of eligible individuals may also benefit from the Golden Visa program. By meeting these criteria, individuals can enjoy the benefits of residing in Greece and investing in its real estate market.
Real Estate Ownership Requirement
The criterion concerning the ownership of real estate is a fundamental requirement for eligibility in the Greek Golden Visa program. To qualify for the Golden Visa, individuals from third countries must own real estate in Greece valued at a minimum of €250,000.
This real estate can be acquired either personally or through a legal entity based in Greece or another EU member state, provided that the individual owns the shares or company shares entirely, by full ownership, jurisdiction, and possession.
Additionally, individuals who have legally entered or reside in Greece and have full ownership, jurisdiction, and possession of real estate purchased before the enforcement of Law 4146/2013, with a value of €250,000, are also eligible for the program.
The Golden Visa allows for a residence permit in Greece, subject to renewal every five years, providing an opportunity for individuals to invest in real estate and benefit from this residency program.
What Is Goldenvisa in Greece
Lease of Hotel Accommodation
Signing a ten-year lease for certain properties allows individuals to be eligible for Greece’s Golden Visa program, granting them permanent residency rights with renewal options every five years. Renting hotel accommodations provides an alternative path for meeting residency requirements without property ownership. Adhering to lease terms enables applicants to qualify for the Golden Visa, facilitating their stay and activities in Greece.
The lease of hotel accommodation provides a pathway for individuals to meet the residency requirements without the need for real estate ownership.
Acquisition of Real Estate
When considering acquiring real estate in Greece as a pathway to obtaining a Golden Visa, individuals from third countries must meet specific eligibility criteria outlined by the Greek government. To be eligible for the Golden Visa, third-country citizens must have ownership, jurisdiction, and possession of real estate in Greece valued at a minimum of €250,000. This real estate can be purchased personally or through a legal entity based in Greece or another EU member state, where the individual owns all shares or company shares entirely.
Additionally, third-country citizens may also qualify for the Golden Visa by entering into a ten-year lease of hotel accommodation or tourist furnished houses with a minimum lease amount of €250,000. Those who have purchased real estate in Greece before the enforcement of Law 4146/2013 for at least €250,000 are also eligible. Furthermore, individuals who buy a plot of land and construct a building with a total value of at least €250,000 can qualify for the Golden Visa.
Construction of Building Requirement
A key prerequisite for eligibility under the Golden Visa program for real estate investment in Greece involves meeting the construction of building requirement. This requirement allows citizens of third countries to purchase a plot of land or a plot of land and construct a building, as long as the total value of the purchase contract and the contractual agreement for the construction amounts to at least €250,000.
By fulfilling this condition, individuals can qualify for the Golden Visa, which grants them the right of entry and permanent residence permit in Greece, subject to renewal every five years.
This aspect of the Golden Visa program aims to attract foreign investment into the construction sector and stimulate economic growth while offering residency opportunities to eligible individuals seeking to invest in Greek real estate.
Timeshare Contracts for Golden Visa
Upon meeting the construction of building requirement for the Golden Visa program in Greece, individuals can also explore eligibility through timeshare contracts, offering an alternative avenue for real estate investment. Timeshare contracts, as defined by Law 1652/1986, entail the lessor granting the lessee annual use of tourist accommodation with related services for a specified period, with the lessee paying the agreed rent. These contracts typically range from one to sixty years and cover licensed hotel units and tourist facilities under the Hellenic Tourism Organization.
Under the Golden Visa scheme, citizens of third countries can secure residency by entering into timeshare agreements amounting to at least €250,000. This option provides flexibility for individuals seeking Greek residency through real estate investments. . It is a viable way to leverage the program’s advantages while diversifying investment portfolios and exploring the Greek real estate market.
Inheritance of Real Estate
In the domain of real estate inheritance within the framework of the Golden Visa program in Greece, individuals from third countries who have attained ownership of immovable property with an objective value of €250,000 as heirs, whether through intestacy, will, or parental provision, are eligible for residency under specific conditions.
These individuals must be adults to qualify for the residency permit. The inheritance of real estate valued at €250,000 or more must be established through legal means such as a will, parental provision, or intestacy to meet the criteria for the Golden Visa program.
Family Members Eligibility
Continuing the discussion on eligibility within the Golden Visa program in Greece, the consideration now shifts towards the criteria for Family Members to qualify for residency permits under specific conditions.
Family members of third-country citizens who meet the requirements for the Golden Visa program are also eligible for residency permits in Greece. These family members include spouses, children under the age of 21, as well as adult children with disabilities who are financially dependent on the main applicant. Additionally, parents of the main applicant and their spouse can also qualify as family members under the program.
Family members must be able to provide proof of their relationship to the main applicant through official documentation such as marriage certificates or birth certificates. It is important to note that family members must be included in the initial application for the Golden Visa and cannot be added at a later stage.
The Golden Visa program in Greece offers non-EU citizens the opportunity to obtain residency by investing in real estate or other eligible investments. With specific criteria to meet, such as owning real estate valued at €250,000 or entering into a ten-year lease of hotel accommodation, individuals and their families can benefit from this program.
The Golden Visa provides a pathway for long-term residency in Greece, making it an attractive option for those seeking to establish a presence in the country.
Deteraiou Anna and Associates Law Office.
39 Stadiou Street, Athens, Greece
What Is Goldenvisa in Greece