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«GOLDEN VISA» - LEGISLATION AMENDMENT (Law 5007/23-12-2022)


The "GOLDEN VISA" program has been successfully implemented in Greece since 2013 for buyers or lessees of real estate, providing them with the opportunity for legal residence in Greece on the one hand, and free access and movement in all Schengen Agreement countries on the other.


According to the changes introduced by Law 5007/23-12-2022:


"1. By decision of the Secretary of Decentralized Administration, a residence permit for five (5) years, renewable, is granted to a third-country national who:


  1. Has entered the country legally with any type of entry visa or resides legally in the country, even if the residence permit held does not allow a change of purpose.


  1. Owns, in full ownership and possession, real estate property in Greece. On an indivisible co-ownership basis of property, with a minimum acquisition value equal to that specified in subparagraph 2, the right of residence is granted only if the co-owners are spouses or partners who have entered into a cohabitation agreement. Otherwise, the right of residence is granted only if each co-owner's share is of a value at least equal to that specified in subparagraph 2.


  1. Owns, in full ownership and possession, real estate property in Greece, with a minimum acquisition value equal to that specified in subparagraph 2, through a legal entity based in Greece or another EU member state, of which they hold all the shares or corporate stakes.


  1. Has entered into a long-term contract for a complex tourist accommodation, in accordance with paragraph 2 of article 8 of Law 4002/2011 (Government Gazette A' 180), or a timeshare contract for tourist accommodation, in accordance with the provisions of Law 1652/1986 (Government Gazette A' 167), with a value at least equal to that specified in subparagraph 2.

  2. Is an adult and has acquired, in full ownership and possession, as a legatee or as an heir under a will or as a result of parental provision, real estate property of an objective value at least equal to that specified in subparagraph 2.

GOLDEN VISA 2022

2. a) For the Regional Units of Northern, Central, and Southern Sector of Athens and the Municipality of Vari-Voula-Vouliagmeni in the Attica Region, the Municipality of Thessaloniki in the Central Macedonia Region, and the Regional Units of Mykonos and Santorini in the South Aegean Region, the minimum value of the real estate property at the time of acquisition, as well as the total contractual rent of hotel accommodations or tourist residences thereof, is set at five hundred thousand (500,000) euros and must be fully paid before submitting the application for the issuance of the permanent residence permit for investors. In the case of investment through the purchase of real estate in the areas of the first paragraph, this is made in a single property. In the case of investment through the purchase of a percentage of an indivisible co-ownership property, the minimum value of the percentage of co-ownership is set at five hundred thousand (500,000) euros, and the investment is made in a single property or multiple properties.


b) For the rest of the country's areas, the minimum value of the real estate property at the time of acquisition, as well as the total contractual rent of hotel accommodations or tourist residences thereof, is set at two hundred and fifty thousand (250,000) euros and must be fully paid before submitting the application for the issuance of the permanent residence permit for investors.


3. The minimum value of the real estate property at the time of acquisition, as well as the total contractual rent of hotel accommodations or tourist residences thereof, as resulting from the notarial deeds of conveyance and, in cases where the payment of the appraised value is pending, from the corresponding legally registered deeds of payment and cancellation of dissolution, or the lease agreements, respectively, as determined according to subparagraph 2, must be fully paid before the submission of the application for the issuance of the permanent residence permit.


Our Law Office undertakes all necessary legal actions for the acquisition of the property and the issuance of the investor residence permit - Golden Visa. We represent investors in all Greek public services, submit applications, collect, deposit, and retrieve all necessary documents until the final issuance of the residence permit. Thus, the procedures for the investor are simplified and expedited, relieving them of unnecessary hassle and inconvenience.

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