The Greece Golden Visa Program is designed for non-EU/ EEA citizens to acquire Permanent Residency in Greece. The legal basis of the program concerned (entry and residence for investment activity) is found in Article 16 of Law 4251/2014, as amended and completed by Article 8 (par. 21) of Law 4332/2015 and Article 84 (par. 1 to 6) of Law 4399/2016. The Program offers Permanent Residency to non-EU/ EEA citizens who purchase new property worth at least €250,000 (+ taxes).

The amount of €250.000 refers to the price indicated on the contract excluding Value Added Tax. In cases of joint ownership of the real estate property by spouses, the residence right is granted to both spouses.

You are entitled to residency rights irrespective of whether you own one or more properties, provided that their combined value is equal to or greater than €250.000 excluding taxes.

The law states that €250.000 must be the stated price on the contract excluding taxes. It does not distinguish between commercial and residential properties.

There are restrictions on properties located in border regions. It should be noted that as border regions are defined the prefectures of the Dodecanese, Evros, Thesprotia, Kastoria, Kilkis, Lesvos, Xanthi, Preveza, Rodopi, Samos, Florina, Chios, and the islands of Thera and Skyros, as well as the former regions of Nevrokipi in the former prefecture of Drama; Pagoniou and Konitsas in the prefecture of Ioannina; Almopia and Edessa in the prefecture of Pella; and Sintiki in the prefecture of Serres. Individual or legal entities, which are affected by the restrictions above, can request the lifting of the ban for the border regions, along with their application, which should clearly state the intended use for the property. The decision to lift the ban is made by the Minister of Defence, following the submission of an application.

The holders of the residence permit have access to public education, analogously to that of Greeks.

Regarding access to health services, non-EU/EEA citizens and their family members who fall under the regulations of the current immigration law must have national or private (if provided by their national legislation) insurance that covers their healthcare and medical care expenses while they are in Greece.

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

You can take a mortgage out on the property, in the same way as Greeks, subject to requirements of the Greek Banking regulations.

The income of the applicant must be proven by documentation which proves their capacity (e.g. Certificate by class-A recognised bank or an official financial institution or other recognised institutions to store bonds) and certify the existence of bank accounts or other transferable securities, especially shares or bonds (the above are checked for the issuance of a type D visa). In all cases, before the contract, the price of the real estate is paid via a crossed bank cheque or through another banking transaction.

This leads to the revocation of the residence permit.

A Schengen visa by a different country gives the applicant the ability to enter Greece and settle issues regarding the purchase of the property.

In cases when the real estate (property) is transferred, the non-EU/EEA citizen loses the right to residence. In case of resale of the property during the period of validity of the residence permit to another non-EU/EEA citizen, the right to a residence permit is granted to the new buyer along with a simultaneous revocation of the seller’s residence permit.

Non-EU/EEA citizens who own real estate have the right to rent their property.

There is no legal requirement to collect and process the documents through a lawyer. In cases where the applicant does not speak Greek and / or is located outside of Greece, it may be preferable to ask for the support of a legal representative or proxy who is in Greece, to facilitate the process.

According to the law, family members of the non-EU/EEA citizens entering the country are:

 The spouse

 Their unmarried children up to the age of 21

 The first-degree ascendants

 The first-degree ascendants of the spouses

 The unmarried children of the dependant or his / her spouse up to the age of 21, provided that the right of custody has been legally granted to the sponsor for his/her children and to the other spouse for the children thereof. These family members are granted residence permits for family reunification which does not include access to paid employment in Greece.

Ascendants are included in the provision above but not children over the age of 21. Children of non-EU/EEA nationals, who have been admitted to Greece under the terms and requirements of residence permit for property owners, are granted a residence permit for family reunification until the age of 21. After that, it is possible to acquire a renewal as a 3-year independent residence permit until they reach the age of 24 and then it is possible to renew it further according to pertinent immigration legislation.

Currently, family members do not include unmarried partners. Ministry of Migration Policy is examining the possibility of reviewing the current legal framework in order to facilitate the admission of unmarried partners under certain conditions (civic partnership, durable relationship).

Yes. The residence permit and long-term visas are valid as far as the free movement of the person in the Schengen area is concerned. Any citizen who holds a long-term visa (such as the residence permits for real estate owners) which has been issued by a member state and are valid for one year, are able to travel to other member states for up to 3 months within a six month period, under the same conditions which apply to the holder of a residence permit, while they are also granted a right for multiple entries.

You can arrive to any Schengen country you wish to

In no case does the residence permit provide access to any type of paid employment. Employment, according to paragraph 6, article 20, of Law 4251/2014, does not include the exercise of economic activity in the capacity of a shareholder or a Chief Executive Officer for an already existing company. The family members that have been issued a residence permit for the same duration as the sponsor are similarly not granted access to the employment market.

According to the decision of the Minister of Interior no. 130181/6353/27.3.2018, published in the Government Gazette 1208/Β/2.4.2018, the residence permits of Real Estate Owners and permanent residence permit for Investors have been added to the categories of residence permits that are eligible for the submission of an application for the acquisition of Greek citizenship. In this case, the applicants must fulfil all the preconditions of the Greek Citizenship Code applied for the acquisition of Greek citizenship by naturalization. The above ministerial decision applies only to the real estate owners and investors themselves, and not their family members, who must first obtain the long-term residence status, which is a prerequisite for naturalization.

Yes, you can take loans from financial institutions outside Greece who are willing to grant you a loan based on your financial merit. Non-payment of this loan may impact your ownership rights and thus your residence permit.