Legislation

Golden Visa for Non-residence of the European Union

Golden Visa for Non-residence of the European Union.

What Greece offers property buyers or investors to individuals from countries outside the European Union:

  • Residency permit for Greece which is automatically re-instated / renewed every 5 years, as long as the property remains under the ownership of the buyer, which means for life. This is extended to 1. The owner 2. His / her wife / husband 3. To his / her parents and parents-in-law. 4. To his / her children up to 21 years of age (which can be extended to 24 years of age).
  • Movement and settlement to 25 European countries for 3 months every 6 month period, without having to apply as this is considered a Schengen Visa.
  • Security
  • Hospitality
  • Our fabulous weather

To whom is this applicable

  1. Citizens from countries outside the European Union willing to invest in Greece (investors), either on a personal scale, or through legal representation, on the condition that their investment plan is in accordance to legal guidelines as explained below.
  2. To citizens outside the European Union, corporate executives whom contribute to and are involved in the implementation and/ or operation of the above-described investment plan (executives and middle management or specialized individuals required for the execution of the investment plan. The above-mentioned provision for nationals outside the European Union and company executives, also applies including the same prerequisites in force for domestic / local enterprises already implementing and operating a new investment. A maximum of 10 permits can be given to investors and company executives for each investment project, depending of course on the extent of the investment.
  3. The immediate family members of citizens from outside the European Union.

Prerequisites

  1. Investment Activity: There are no restrictions regarding the sector of the activity or the location for the investment plan. The only prerequisite regarding the investment is that it has positive effects on the development of the national economy. Investment activity can be realized through the construction of new facilities referred to (greenfield investments) or through business buy-outs, restructuring or expansion o f existing activities called (brownfield investments). Factors that are taken into consideration in determining the effects the investment project will have on national development and on the national economy are: the creation of employment opportunities and positions, exploitation of domestic resources and vertical integration and development of domestic production, orientation for the exporting of merchandise and the innovation and adoption and use of new technology.
  2. The amount or the extent of the investment: The legal guideline does not limit or restrict the total amount of the investment plan. As such, and investor who submits an application for a residency permit for this programme, must contribute to the investment a minimum of 250,000 euros originating from the same capital. Further, the number of permits to be allotted to the investment executives for each individual plan, is determined by the extent of the investment from the total number of investors. To conclude, the number of residency permits allotted to each investment project cannot exceed 10 for investors and executives.

Cost of the Application

The cost of issuing a national entrance visa is 180€. The cost of issuing a five-year residency permit or its renewal is € 500.

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Services:

  • Property Assessment / Appraisal
  • Construction / Development
  • Property Assignment
  • Legal Protection / Coverage
  • Golden Visa
  • Property Management

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