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GOLDEN VISA

Alexandra & Partners LLC

GOLDEN VISA IN GREECE

We remain at your disposal so as to offer you world-class services Alexandra & Partners LLC  retains in Greece a network notaries and certified lawyers in fields such as corporate law, real estate law, nationality law and even with regards of the provision of residence permits and able to intervene and facilitate the issuance of Golden Visa in Greece regardless of your state of origin e.g. Singapore, Hong-Kong, China, Turkey, Russia, Lebanon, Egypt, Iraq, Iran, Syria, Jordan, Ukraine, Pakistan, India, Vietnam, Bangladesh, Sri Lanka, etc.

Our Call Center remains always at your disposal 24/ 7, and our customer service shall at all times return all your calls and messages.

Statistics Concerning the Golden Visa in Greece.

 

 

ADVANTAGES RELATED TO THE GREEK GOLDEN VISA PROGRAM

What one has to bear in mind is that as soon as he/ she purchases a Property of a minimum value of 250.000, 00€, he/ she is entitled to get a Greek Residence Permit and the thereto related Schengen Visa provided to non-EU Nationals.

The Greek Golden Visa Program is an exceptional opportunity offered both to any natural person but also to the core members of his/ her family given that all of them are allowed to freely reside within the EU, while also making use of other sorts of beneficial arrangements and options such as reliable education, people-friendly healthcare system, insurance policies regarding pensions, other supporting programs and so forth and so on.

In particular this is a program that helps all members of a single family, i.e. father, mother, children of minor age and even children up to 24 years of age who are anyhow dependent on their parents, plus the parents of both spouses, to get permanent residence within Greece in 3 months’ time, from the moment the actual purchase of a real estate property takes place; and this is uniqaue in terms of the whole of the EU.

It is to be noted that the Golden Visa Program as such de jure facilitates travelling throughout all Schengen Zone Countries, 90 days in total for very s-month period; beside that, there is also the option of insurance policies which is an advantage of the sort you would not expect to find elsewhere in the world, while there is also the option of getting a passport in case you wish to elaborate further in what this initial step of property purchase enables.

Main Points:

· Children of up to 24 years of age are eligible to participate in the said program (firstly, up to the age of 21, furthermore there can be an extension up to the age of 24)

· Parents of both spouses may also be included in the Program

· 3 months’ time to have everything arranged (in certain cases/ region even less time is needed, i.e. 10 days in total)

· Option for EU Citizenship

· Schengen zone accessibility: visa-free travel option

The case of Greece: what does the Program entail?

You and your family shall be able to reside in Greece without any restrictions, or in case you have been already registered here to prolongue your stay. Greece has nowadays left behind the difficult days of its recent past and it has resumed its place as travel hub with flights connecting all of its major cities with major points of reference in Europe, the Americas, Oceania, Africa etc.

One could also mention all other advantages related with the Greece being member of the EU and the rest of the Western world, not forgetting though its connections and roots with the East. Quality of life such as malls, restaurants, beauty centers, archaeological sites of uniqueness, sports, culture, climate, universities are only some of the features Greece may easily offer to you and your family once you decide to embrace it as your second (or first) homeland.

Getting down to specifics

In terms of eligibility the Golden Visa Greece Program applies not only to the actual purchaser, but also to his/ her spouse, the dependent on them children even if they are up to 24 years old, and even more so to the grandparents of both sides. The permit’s permanent status is there for all of the aforementioned members of the wider family and it shall be remaining as such as long as the real estate property remains with its initial purchaser; every 5 years it has to be renewed by just being obliged to appear before the competent state administrative authority that shall confirm the ownership status.

The whole program evolves around the necessary precondition of investing through the purchase of a real estate property of 250.000, 00€ worth (brutto or net). Any property is eligible be it land as such, new property, resale etc. If for any reason the purchaser decides to sell that certain property else before the 5-year period to someone of foreign nationality, he/ she can also apply for the same status, however, the first purchaser needs to forfeit his/ her own permit and ultimately lose any such right at all.

· There is always the case of joint ownership of a real estate property of 250.000, 00€; if it is about spouses, then there is no question of permit at all given that the spouses keep each 50% of the said property. In any oher case, though, i.e. the purchase is not that of a spouse, then each of the purchasers has to pay the amount of 250.000, 00€

· If the purchase has taken place by a legal entity of any sort, then it has to be proven that this entity entirely belongs to a single member/ natural person

· There is, of course, the option of purchasing more than one properties as long as they amount to the sum of 250.000, 00€

Having said the above, it also needs to be mentioned that residents of already permanent status are eligible to apply for Greek citizenship after having spent 7 consecutive years in the country. Their children can be eligible on their part if the following boxes have been checked accordingly:

· Attendance of any school in Greece for a 9year-period

· Attendance of a secondary level school in Greece for a shorter period of 6 years

· Attendance of a University in Greece

Please do keep in mind that all EU citizens enjoy free access to employment, travelling, education, healthcare across the whole range of the (still) 28 countries of the EU. The Greek passport is the most useful tool you need when your aim is to travel not only within the EU but practically to all countries with the exception of only a handful of them

Obtaining the Golden Visa Greece in a plain and simple way.

A process which read as follows:

· Getting the Entry Visa and Locate the Property that suits you

· Purchasing the Property by signing all necessary documents and the agreement itself

· Initiating the process by filing the necessary documents for a Golden Visa, and by obtaining gradually all supporting documents:

1. Valid copy of passport

2. 3 pictures, recent & colored

3. Copy of a contract or contracts of total value of 250.000, 00€

4. Transfer certificate issued by the Land Registry

5. Application to get Residence Permit: a cost of 2.000, 00€ per person (adult)

Regarding family members, i.e. spouse and children: certificates of marital status, both an original and a copy bearing the APOSTILLE stamp.

Please bear in mind that the signing of the purchase agreement as well as the submission of the application regarding the Residence Permit as such could be processed by a lawyer vested with a proxy.

Expenses and Fees with regards to Property Purchase

The related expenses read as follows:

· Contract fees, in case of a property transfer in Greece and in relation to the actual signing of the deed: 1) 3, 09% of the contract price for properties with a building permit, 2) 1, 0% as notary fee, 3) 1, 0% lawyer’s fee, 4) 1, 0% as registration fee

Greece Golden Visa Program: a roadmap · PHASE A’ : Purchase · PHASE B’ : Golden Visa Procedure · FINAL STEP

Step one: Decision reached by (future) purchaser to travel accordingly to Greece and find property that meets its needs.

Step two: Getting in contact with our Law Firm.

Step three: issuance of a travel visa by our Law Firm in order for you to visit Greece.

Step four: arrival in Greece and meeting with lawyers and associates of ours to get to locate the property of your liking.

To that end our Team may as well assist you not only with technical/ legal details but also with all ordinary ones, such as assisting you with booking a hotel for the time you’ ll be spending in Greece while in search of the proper property, alet alone all other relevant and not so relevant arrangements that may surface along the way while remaining here in Greece e.g. lease a car, arranging a visit to a doctor in case of an emergency, making arrangement for a visit to an archaeological site or a cultural event of any sort etc.:

Step five: Hands on procedure of actually vising properties here in Greece, checking locations, with at least one member of our Team, preferably a Translator or a property expert.

Step six: selection of a property or properties and, practically, launching of the purchase sequence à payment in advance of 10% of the price & Pre-Sales Private Purchase Agreement.

Step seven: signing of a Power of Attorney (“Proxy”) at a Notary’s Office appointing and allowing the representative Lawyer –s to: è issue a Tax Number (in Greek “AFM”)

· Open a bank account

· Sign the Final (proper) Purchase Agreement

· Initiate the Golden Visa Application Procedure

Allow us to elaborate a little further on the actual signing of the Final (proper) Purchase Agreement by stressing the following, and in a nutshell what is practically and tangible needed to be done.

First of all, the authorized/ appointed Lawyer (or one of them) after having signed the Final Agreement at the Notary’s Office, makes sure that the same Agreement is registered with the competent Land Registry, in order for the actual Transfer of Deed to take place.

Secondly, and after having concluded the procedure with the Land Registry as such, by paying all necessary fees as calculated by the Land Registry itself, our Associate Lawyer shall be receiving the proper finalized Contract which by now has been completely finalized and settled accordingly.

Frequently Asked Questions

1. Is it necessary to appoint a lawyer to collect the documentation?

There is no legal requirement to have documents collected and processed by a lawyer. In case the applicant does not speak Greek and/or is located abroad, one might require the services of a proxy, based in Greece in order to facilitate the process.

2. Who is considered a family member? 

In accordance with the law, non-EE/EEA citizens’ family members entering our country are: – The spouse, – Spouse or partner with whom the third country national applying for permit has signed a cohabitation agreement – Unmarried children of spouses under 21 years old, – Unmarried children of the sponsor or his/her spouse under 21 years old, provided that the right of custody has been legally assigned to the sponsor for his/her children and to the other spouse for the children thereof, – Relatives in ascending line of spouses. Family members are granted residence permit only on the grounds of family re-unification.

3. May my relatives in the ascending line (specifically my parents and my spouse’s parents) or my children above 18 years old accompany me and be included in the provision for family members?

Ascendants of spouses are included in the above provision. For unmarried children under 21 years old, there is a residence permit issued for reasons of family reunification. When they turn 21, they may be granted an independent residence permit until the age of 24, renewable, under pertinent immigration legislation.

4. May I travel to other EU countries with the investment activity residence permit?  

Are there any conditions that apply to that? Yes. Residence permit holders may travel to other member states for a period not exceeding 90 days (cumulatively or in intervals) within any period of 180 days, in accordance with the Schengen Borders Code. 

5. Does the investment activity residence permit provide access to the labour market? 

Are my family members allowed to work in Greece? Holders of the said residence permit have access to the exercise of the specific investment activity for which they have received said residence permit. Investor’s family members may not have access to the labour market.

6. Does my investment activity residence permit entitle me to apply for citizenship?  

By virtue of Ministerial Decision 130181/6353/7.3.2018 (Government Gazette 1208/B/2.4.2018), the said residence title has been added to the titles allowing direct access to apply for the acquisition of Greek nationality by naturalisation. In such case, applicants should fulfil all prerequisites under the Code of Greek Nationality on acquisition of Greek nationality by naturalization. The above Ministerial decision applies only to investors and not company executives and family members, who should first acquire long stay residence status, as in the case of long stay resident, which is a title necessary for naturalization.

7. What are the provisions in force regarding access to education and health services? Can residence permit holders’ children attend a Greek public school? 

Residence permit holders have equal rights of access to public education with country nationals. With regard to access to health services, non-EU/EEA nationals and their family members under the regulations of the immigration law in force, should have public or private – if provided by national legislation – insurance coverage, covering medical and pharmaceutical expenses as well as hospital care.

8. Is the purchase of a car with Greek license plates allowed for me to travel in the country? 

Yes, in accordance with specific regulations of the Ministry of Transport which apply to non-EU/EEA citizens.

9. Is it required by investors to prove financial adequacy?

All investors (private persons and legal entities) participating in the financing of the project (not only those individuals applying for a residence permit) should have all appropriate documentation required to prove their ability to participate in the investment with own funds. 

10. If 10 non-EU/EEA citizens decide to invest €3.000.000 in a business in Greece, are all investors and 2 executives entitled to a residence permit?

Any investor participating in the financing of the project with own funds amounting at least to €250.000 is entitled to a residence permit. Consequently, if investors participate equally with the above amount (i.e. each with €3.000.000.000/10 = €300.000), all of them are entitled to a residence permit plus two executives on the basis of the specific amount of investment. However, if an investor participates with amounts higher than the rest of the investors, investors participating with own funds under €250.000 may not be granted a residence permit under this program. According to paragraph 1 of Article 42 of Law 4605/2019, for investments (investor’s contribution) from €1,000.001 to €3,000,000, two residence permits may be issued for company executives, regardless of the number of investors who have been granted entry and residence permit for the specific investment project. Therefore, even if residence permits are issued for the ten investors, there may be two extra permits issued for company executives. 

11. What if one’s criminal record becomes tarnished, either in their country of origin or in Greece, during the period in which his/her residence permit is valid?

Issues of public order and security, arising following the issuance of a residence permit, may constitute reasons to revoke it. 

12. Is the residence permit still valid in case of business activity transfer / discontinuation?

If business activity is transferred/discontinued, non-EU/EEA citizens lose their right to stay in Greece, on the basis of the residence permit that has been granted.

Partners at Alexandra & Partners LLC

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