Buying property in Greece has traditionally been a sought-after investment opportunity. In 2014, in addition, the Greek Government adopted a very friendly stance towards Non-EU citizens that wish to own property in Greece by granting them a Permanent Residence Permit, which also serves as travel visa for the entire Schengen Area.
The Greek Golden Visa Framework
Greece offers a very competitive investor’s Visa scheme and the lowest cost option for residency in Europe, since the minimum investment amount required for a Visa in Greece is the lowest in the entire European Union and includes superb provisions for the investor’s family. Under the provisions of Law No. 4146/2013 of the Hellenic Republic, the investor may obtain a residence permit in Greece for himself and his entire family, i.e. the spouses, the parents and children (until the age f 21), for as long as he legally own real estate in Greece.
The minimum required value of the acquired property is set, as of today, to the amount of € 250,000 derived from a single or a multitude of different acquisitions.
Issuance, Validity and Renewal of the Golden Visa
The Golden Visa may be issued in as soon as 10 working days after the purchase is complete and it is valid for a period of 5 years. At the end of this 5-year period, the Golden Visa can be renewed for an equal duration, under the sole condition that the applicants continue to own the property they have purchased. The above renewal can be granted for unlimited times. In practice, as long as the investor maintains ownership of property in Greece, he continues to enjoy the benefits of the Golden Visa.
The applications (for the issuance or renewal of the Visa) as well as the relevant documentation are drafted and submitted to the competent Authorities by an appointed legal representative.
Benefits of the Golden Visa
The Golden Visa provides its holders with at-will entrance and stay in Greece, for the entire period of its validity. It allows for the enjoyment of all public health, insurance and education services as well as travelling within the entire Schengen Zone, meaning Twenty two of the European Union (EU) member states and the four European Free Trade Association (EFTA). By all means, residing in Greece is a right that may or may not be exercised; it is not an obligation for the holders of the Greek Golden Visa. However, after seven (7) years of lawful residency in Greece, the holder of the Golden Visa is also eligible for the acquirement of full Greek citizenship and European Passport.
What We Do
A.Symmetron provides a broad range of real-estate database, legal coverage, tax planning and complete Visa-related assistance to prospective Real Estate owners across the world.
Operating exclusively with our own local Real Estate Agencies as well as Legal and Tax Experts, we offer an all-inclusive service; from the identification and acquisition of the target asset all the way to the issuance of the Golden Visa and the management of the property, investment support tailor made to the client’s specific needs.
A.Symmetron owns a wide real-estate portfolio referring to prospective owners that aim to purchase residential as well as commercial spaces, i.e. apartments, vacation houses and offices, all over Greece, from Athens and Thessaloniki, to the most popular Greek islands and resorts.
We offer commercial-focused guidance as well as excellent legal support on the entire process. Every step for the issuance of the Golden Visa is to be concluded by an authorized Proxy under a Power of Attorney, reducing the investor’s long-term presence in Greece to the least possible; i.e. the viewing of the properties, the appointment of the legal associate as his Proxy to act as his legal representative in Greece and collection of the biometric data. The lawyer will be authorised to appear before all competent Authorities or private institutions and carry out, on behalf of the client, any business necessary for the signing of the final contract, the issuance of the residence permit or any legal action after the acquisition in the context of a property management scheme provided by A.Symmetron, when the investor wishes to enhance and maintain the value of the property acquired or thrive sustainable income. Therefore, substantial time and money is saved, while all preliminary, final and after-acquisition steps are carried out problem-free.