GOLDEN VISA BENEFITS
What is a Golden Visa? Every third-country national who obtains a Golden Visa, as well as all the members of his/her immediate family (spouse, children under 21 years of age, parents of both spouses) are entites to the following benefits:
- The right to enter Greece and the EU for five (5) years
- The right to reside in Greece for five (5) years
- The right to renew Golden Visa every five (5) years (when conditions are met)
- The right to travel freely and stay for over 180 days per year in European countries
that are also members of the Schengen Agreement, within or outside the European Union. A Golden Visa currently permits travel to Austria, Belgium, the Czech Republic, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Holland, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Malta, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland.
The right to access the Greek public education system.
GOLDEN VISA PREREQUISITES
In order to obtain a Golden Visa in Greece the following requirements must be met:
- He/She shall have entered Greece legally
- He/She shall have the full ownership, possession and occupancy or a percentage of undivided ownership of one or more real estate properly/ies in Greece, the total value of which should amount to at least two hunded 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 180A’), provided the minimum cost of the lease also amounts to two hundred and fifty thousand euros (€250.000).
- Alternatively, he/she shall purchase a plot of land or acreage and proceed to erecting a building, provided that the cumulative value of the land purchased 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 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.
Submission of the application through a proxy, without the obligation to previously enter Greece.
Non-EU citizens who have made an investment through the three options of the Greek Golden Visa program, can apply for a residence permit through a proxy, without the obligation to previously visit Greece. The Power of Attorney for the appointment of a proxy, must be signed before a Greek Consular authority. The non-EU citizen, must enter Greece in a period of 12 months from the date of the confirmation receipt of the application, in order to submit his biometric data.
The legal department of VHD provides the following services:
- Issuance of a travel visa in order to visit Greece, something which presupposes and relates to the necessary and relevant preparation and research in order to have it (the Visa) issued
- Consideration regarding assistance by natural presence and even by our associates commuting on site accordingly, furthermore by providing services of interpreter/ translator [if needed]
- Issuance of Tax Number
- Opening a bank account in Greece
- Submission of applications regarding issuance of residence permits and follow-up of such procedures
Note: The holder of Golden Visa is entitled to extend all the benefits of their Golden Visa to the immediate members of his/her family, who will each acquire a separate Golden Visa by submitting their own separate applications. Immediate family members include:
- The applicant’s 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.