The Greek government, adopting a friendlier stance towards those who wish to own real estate property in Greece, introduced a new procedure to obtain Residence Permit, which can be renewed every five (5) years, for Third-Country citizens who are owners of real estate, the value of which exceeds €250.000.

Golden Visa is a new type of Residence Permit, only for Third – Country citizens who are Real Estate owners and have entered the country legally or at the moment legally reside in Greece, even if the Residence Permit they hold does not allow a change of residence scope.

Beneficiaries of the right of entry and the Permanent Residence Permit, which shall be renewed every five (5) years, are:

• third country citizens who own real estate property in Greece, either person­ally or through a legal entity based in Greece or another EU member state, of which they own the total of the company shares, provided the minimum value of the prop­erty is €250.000;
• third country citizens who have signed a lease agreement – 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 is €250.000;
• third country citizens who either reside legally, with a residence permit, in Greece, or wish to enter and reside in the country, and who have full ownership and possession of real estate property in Greece, which they have purchased before the enactment of law 4146/2013, provided that they had purchased the real estate prop­erty for a minimum of €250,000 or the current objective value of their real estate property is at a minimum of €250,000;
• third country citizens who purchase a plot of land or acreage and proceed to the construction of a building, provided that the cumulative value of the land purchase and the contract with the construction company is at minimum €250,000.
• third country citizens who have signed a timeshare agreement (lease), based on the provisions of Law 1652/1986. A time share lease, according to the provisions of article 1 of Law 1652/1986 is the commitment of the lessor to grant, each year, to the lessee, for the duration of the timeshare, the use of the tourist accommodation and to provide to them the relevant services for the determined period of time according to the contract, and the lessee must pay the agreed rent. Tourist accommodation for the implementation of this law refers to hotel units and generally tourist facilities operat­ing under the permission of the Hellenic Tourism Organization (EOT) and have been subject to the provisions of the law by decision of the Secretary General of E.O.T. Timeshare is agreed for a period of one (1) to sixty (60) years.
• third country citizens who are adults and who fully and legally own real es­tate property in Greece, the minimum value of which is €250,000, and is acquired through intestate succession, will or parental concession.
• family members of the third country citizens described above.

If you would like to know more about the preconditions of obtaining your Golden Visa in Greece through real estate ownership, do not hesitate to contact us for guidance. Our company, in collaboration with experienced lawyers, may handle the procedure. Browse through our website elinongi.gr and look for the villa or the land of your dreams.