URBAN Real Estate
URBAN Real Estate

Residence Permit Documents (Golden Visa)

logo The documentation for a residence permit in Greece for investors and buyers of real estate over two hundred fifty thousand euros (250,000 euros) is set by the Ministry of Interior and concerns third-country nationals who make "strategic investments". The same applies to executives (and members of their families) for whom the issuance of a residence permit is considered a prerequisite for the proper implementation of this investment plan.

The holder of a five-year right of residence is a third-country national who has a personal or a legal person (provided that the shares or shares are wholly owned by him in full ownership), the holding and possession of immovable property in Greece, the minimum amount of which amounts to two hundred and fifty thousand euros (250,000 euros).

In the case of co-ownership of a property worth 250,000 euros, the right of residence is granted only if the owners of the property are spouses holding the property indiscriminately. In all other cases of co-ownership, the right of residence is granted only if the amount invested by each co-owner is EUR 250,000 and in case of:
  • which has at least ten years of rental of hotel accommodation or tourist furnished dwellings in complex tourist accommodation, provided that the minimum lease amount amounts to € 250,000.
  • who is either legally residing in Greece, or wishes to enter and reside in the country, who is in full ownership, possession and possession of immovable property in Greece, which he purchased prior to the entry into force of the law, if the the price he had paid at the purchase was two hundred and fifty thousand euros or the present fair value of his real estate amounts to two hundred and fifty thousand euros (250,000 euros).
  • which owns, owns and owns immovable property in Greece, the minimum amount of which amounts to two hundred and fifty thousand euros (250,000 euros), and which property was donated to it by donation or parental benefit. The right of residence in this the case is only exercised by the donor or the recipient of parental benefit.
  • buying a parcel or plot and building a building if the sum of the purchase contract and the construction contract is at least € 200,000.
  • having a ten-year timeshare lease under the provisions of Law 1652/1986. A timeshare contract in accordance with the provisions of Article 1 of Law 1652/1986 is the undertaking by the lessor to give the lessee, during the term of the contract, the use of a tourist accommodation per year and to provide related services for a period specified by the contract and the lessee will pay the agreed rent.
Beneficiaries are also family members of the above third-country nationals. Family members entitled to entry and residence are:
  • Spouses, if they have reached the age of 18, their unmarried, unmarried, less than 18-year-old children, including those adopted as well as the parents of both spouses.
  • Other, less than 18 years of age, unmarried children of the sponsor or the other spouse, including the children adopted if they are entrusted with the exercise of parental responsibility. The children of third-country nationals who have been admitted to Greece under the terms and conditions of Article 36 A and are adulterated shall be granted an autonomous residence permit.
In the case of the beneficiaries, other than the horizontal documents (passport with entry visa, photos, health certificate, where a health insurance and health insurance certificate is required) and the following supporting documents are provided:
  • Purchase Agreement
  • proof of transcription of the contract by the competent land registry.

Additionally, the following are provided:
In the case of the Beneficiary in Category A.1. among the supporting documents submitted, there is also a notary's certificate stating that: "the contract for the purchase and sale of the property is not conditional on the terms and conditions and deadlines according to the provisions of paragraph 2 of article 6 of Law 4146/2013 and the total of the price was paid in full ". It is clarified that the price of the property for the purposes of Law 4146/2013 is the amount explicitly stated in the contract that it was paid for the sale and purchase. The objective value of the property is not relevant unless it is the amount stated in the contract that it was paid for the sale.

In the case of the Beneficiary in Category A.2. provided in addition:
  • A copy of a notarial document for the rental of hotel accommodation or tourist furnished dwellings in complex tourist accommodation showing a one-off payment of the amount of EUR 250,000 and mentioning the granting of a relevant operating label by the EOT.
  • Proof of transcription of the competent land registry where the relevant land registry has been transcribed lease agreement.

In the case of the Beneficiary in Category A.3. if the price paid prior to the entry into force of Law 4146/2013 at the purchase of the property is less than two hundred and fifty (250,000) Euros but the present fair value of the property exceeds or is equal to that amount, among the supporting documents a certificate from a notary must be included, stating: ...... contract for the purchase of property shows that the price of the property was paid in full and the contract, it is NOT MULTIPLE on terms, terms and deadlines and the objective value of the property, as it stands today, amounts to ....... "

In the case of the Beneficiary in Category A.5. provided in addition:
  • Purchase of land or land purchase contract
  • Contract for the erection/restoration of residence deposited with the tax office in accordance with the law
  • building permit in the name of the person concerned
  • invoices of the contractor and the corresponding receipts.
In the case of the Beneficiary in Category A.6. in addition:
  • a timeshare contract of at least 10 years duration indicating the price corresponding to each year
  • proof of transcription from the competent land registry
  • Acknowledgment by the GNTO that it has knowledge of the training of this particular timeshare.

Entry visa - Grant of residence permit

The provisions of paragraph 2 of Article 6 of Law 4146/2013 stipulate that, except for the special conditions, the third-country national must be in possession of an entry visa when required to issue the residence permit. In cooperation with the Ministry of Foreign Affairs and for reasons primarily related to the service of those concerned, a national entry visa (type D) has been granted because of the advantages granted by that visa to its holder (free movement of the holder in the Schengen area , validity up to one year, multi-entry entitlement, etc.). In practice, it has been shown that the majority of interested third-country nationals choose to enter the country of entry type C.

Considering that the intention of the legislator is to facilitate the interested third-country nationals, it is clarified that it is possible to apply for a residence permit based on the provisions of paragraph 2 of Article 6 of Law 4146/2013 to any third-country national residing lawfully in Greece irrespective of the status or type of residence permit. This also includes C-type entry visa holders and asylum seekers. In the light of the above, any requests that have been submitted and pending to your services before the issue of this circular will be considered.

Application for a residence permit with a personal presence or attorney

The provisions of Law 3386/2005, article 73 par. 1 stipulate that: 'Without prejudice to the introduction of the stand-alone document, an application for initial residence permit or for any renewal may be made either by the presence of the third-country national in person or by his representation by a proxy attorney, or by spouses, relatives in the ascending line and adult descendants. Powers of attorney shall be evidenced in writing with the authenticity of the signature of the delegate only by a police authority. "
Additionally, Circular 30/2007 provided the possibility to apply for a proxy attorney in cases where the proxy is proved by notarial attorney.

In the light of the above, it was mentioned in Circular 18/2013 that even if the application is submitted by proxy, the presence of the interested party in Greece is necessary. This means that an application for a residence permit, by proxy, is not allowed to third-country nationals who have never entered Greece. On the other hand, a third-country national concerned is allowed to enter the country, assign his representation to a lawyer, either by authenticating his signature by a police authority or a notary attorney, and then leaving the country and not attending the presentation of the application for a residence permit and/or the receipt of the relevant permit.

It is therefore possible to apply for a proxy, provided that the applicant submits to the competent authority an original passport of the third-country national. Similarly, it is also possible to obtain a type A certificate as well as a residence permit. The relevant regulation will apply until the introduction of the stand-alone document replacing the uniform residence permit. For the release of the stand-alone document, the third-country national will be required to have a personal presence due to the need for biometrics.

Health certificate

Third-country nationals entering the country with a D visa issued in accordance with the provisions of Article 36 A of Law 3386/2005 are exempt from the obligation to submit a health certificate as a compulsory document for the granting of the of a residence permit, provided they provide a precise and translated copy of the harmonized medical certificate form which they have submitted to the competent consular post of the country of origin. This is because the harmonized form of a medical certificate is supplemented by a recognized public or private body depending on the degree of reliability of the third-country health services which ensures that the third-country national is not suffering from a disease likely to constitute a risk to public health, international data and the World Health Organization, as well as other infectious, contagious or parasitic diseases that require measures to protect it, and therefore fully complies with the provisions of Article 10 of Law 3386/2005 and Ministerial Decision 933/2009.

Third-country nationals entering a type C entry visa are required, together with the other supporting documents, to submit a health certificate from a Greek nursing institution or a private doctor. that the person concerned is not suffering from a disease which, in accordance with International Epidemiological Data and the World Health Organization (WHO), may pose a risk to public health. For the granting of this certificate, a clinical examination of the person concerned, chest X-ray and tuberculosis reaction (Mantoux) is required, according to a relevant Ministry of Health document.

Other Clarifications

The documented intention to purchase property, evidenced by documents proving the economic viability (eg a certified bank A or an official financial institution or other recognized securities depository), certifying the existence of bank accounts or other securities, in particular bonds or shares, to cover the capital of the investment, at least EUR 250,000 and the applicant's intention to purchase the property (contract for a lawyer or a real estate agent) is required for the issue of an entry visa and does not substantiate the right to issue a residence permit.

The residence permit does not grant access to any form of work. Work within the meaning of paragraph 3 of Article 36 A of Law 3386/2005 is not considered to be an economic activity as a shareholder or a managing director. Non-statutory legal entities wishing to invest in real estate for exploitation in Greece are not subject to the provisions of Article 36 A but may be subject to the provisions of Article 26 of Law 3386/2005.

In cases of transfer of property, a third-country national loses the right of residence before five years.

Holders of residence permits have access to health and public education, in proportion to the Greeks. Third-country nationals and members of their families covered by Article 36 A, as mentioned above, should be insured to cover hospital and healthcare costs. In order to prove that this condition has been met, the following are admissible:

  • Insurance contracts concluded abroad when they explicitly state that they cover the person concerned while he/she is resident in Greece
  • Insurance policies concluded in Greece.
The residence permits of this category are renewed for an equal period of time and for as many times as the person concerned wishes, provided that the following conditions are met:
  • Real estate remains the property, property, and occupation of the person concerned
  • Leases are in effect.
The documentation for a residence permit in Greece for investors and buyers of real estate over two hundred fifty thousand euros (250,000 euros) is set by the Ministry of Interior and concerns third-country nationals who make "strategic investments". The same applies to executives (and members of their families) for whom the issuance of a residence permit is considered a prerequisite for the proper implementation of this investment plan.

The holder of a five-year right of residence is a third-country national who has a personal or a legal person (provided that the shares or shares are wholly owned by him in full ownership), the holding and possession of immovable property in Greece, the minimum amount of which amounts to two hundred and fifty thousand euros (250,000 euros).

In the case of co-ownership of a property worth 250,000 euros, the right of residence is granted only if the owners of the property are spouses holding the property indiscriminately. In all other cases of co-ownership, the right of residence is granted only if the amount invested by each co-owner is EUR 250,000 and in case of:
  • which has at least ten years of rental of hotel accommodation or tourist furnished dwellings in complex tourist accommodation, provided that the minimum lease amount amounts to € 250,000.
  • who is either legally residing in Greece, or wishes to enter and reside in the country, who is in full ownership, possession and possession of immovable property in Greece, which he purchased prior to the entry into force of the law, if the the price he had paid at the purchase was two hundred and fifty thousand euros or the present fair value of his real estate amounts to two hundred and fifty thousand euros (250,000 euros).
  • which owns, owns and owns immovable property in Greece, the minimum amount of which amounts to two hundred and fifty thousand euros (250,000 euros), and which property was donated to it by donation or parental benefit. The right of residence in this the case is only exercised by the donor or the recipient of parental benefit.
  • buying a parcel or plot and building a building if the sum of the purchase contract and the construction contract is at least € 200,000.
  • having a ten-year timeshare lease under the provisions of Law 1652/1986. A timeshare contract in accordance with the provisions of Article 1 of Law 1652/1986 is the undertaking by the lessor to give the lessee, during the term of the contract, the use of a tourist accommodation per year and to provide related services for a period specified by the contract and the lessee will pay the agreed rent.
Beneficiaries are also family members of the above third-country nationals. Family members entitled to entry and residence are:
  • Spouses, if they have reached the age of 18, their unmarried, unmarried, less than 18-year-old children, including those adopted as well as the parents of both spouses.
  • Other, less than 18 years of age, unmarried children of the sponsor or the other spouse, including the children adopted if they are entrusted with the exercise of parental responsibility. The children of third-country nationals who have been admitted to Greece under the terms and conditions of Article 36 A and are adulterated shall be granted an autonomous residence permit.
In the case of the beneficiaries, other than the horizontal documents (passport with entry visa, photos, health certificate, where a health insurance and health insurance certificate is required) and the following supporting documents are provided:
  • Purchase Agreement
  • proof of transcription of the contract by the competent land registry.

Additionally, the following are provided:
In the case of the Beneficiary in Category A.1. among the supporting documents submitted, there is also a notary's certificate stating that: "the contract for the purchase and sale of the property is not conditional on the terms and conditions and deadlines according to the provisions of paragraph 2 of article 6 of Law 4146/2013 and the total of the price was paid in full ". It is clarified that the price of the property for the purposes of Law 4146/2013 is the amount explicitly stated in the contract that it was paid for the sale and purchase. The objective value of the property is not relevant unless it is the amount stated in the contract that it was paid for the sale.

In the case of the Beneficiary in Category A.2. provided in addition:
  • A copy of a notarial document for the rental of hotel accommodation or tourist furnished dwellings in complex tourist accommodation showing a one-off payment of the amount of EUR 250,000 and mentioning the granting of a relevant operating label by the EOT.
  • Proof of transcription of the competent land registry where the relevant land registry has been transcribed lease agreement.

In the case of the Beneficiary in Category A.3. if the price paid prior to the entry into force of Law 4146/2013 at the purchase of the property is less than two hundred and fifty (250,000) Euros but the present fair value of the property exceeds or is equal to that amount, among the supporting documents a certificate from a notary must be included, stating: ...... contract for the purchase of property shows that the price of the property was paid in full and the contract, it is NOT MULTIPLE on terms, terms and deadlines and the objective value of the property, as it stands today, amounts to ....... "

In the case of the Beneficiary in Category A.5. provided in addition:
  • Purchase of land or land purchase contract
  • Contract for the erection/restoration of residence deposited with the tax office in accordance with the law
  • building permit in the name of the person concerned
  • invoices of the contractor and the corresponding receipts.
In the case of the Beneficiary in Category A.6. in addition:
  • a timeshare contract of at least 10 years duration indicating the price corresponding to each year
  • proof of transcription from the competent land registry
  • Acknowledgment by the GNTO that it has knowledge of the training of this particular timeshare.

Entry visa - Grant of residence permit

The provisions of paragraph 2 of Article 6 of Law 4146/2013 stipulate that, except for the special conditions, the third-country national must be in possession of an entry visa when required to issue the residence permit. In cooperation with the Ministry of Foreign Affairs and for reasons primarily related to the service of those concerned, a national entry visa (type D) has been granted because of the advantages granted by that visa to its holder (free movement of the holder in the Schengen area , validity up to one year, multi-entry entitlement, etc.). In practice, it has been shown that the majority of interested third-country nationals choose to enter the country of entry type C.

Considering that the intention of the legislator is to facilitate the interested third-country nationals, it is clarified that it is possible to apply for a residence permit based on the provisions of paragraph 2 of Article 6 of Law 4146/2013 to any third-country national residing lawfully in Greece irrespective of the status or type of residence permit. This also includes C-type entry visa holders and asylum seekers. In the light of the above, any requests that have been submitted and pending to your services before the issue of this circular will be considered.

Application for a residence permit with a personal presence or attorney

The provisions of Law 3386/2005, article 73 par. 1 stipulate that: 'Without prejudice to the introduction of the stand-alone document, an application for initial residence permit or for any renewal may be made either by the presence of the third-country national in person or by his representation by a proxy attorney, or by spouses, relatives in the ascending line and adult descendants. Powers of attorney shall be evidenced in writing with the authenticity of the signature of the delegate only by a police authority. "
Additionally, Circular 30/2007 provided the possibility to apply for a proxy attorney in cases where the proxy is proved by notarial attorney.

In the light of the above, it was mentioned in Circular 18/2013 that even if the application is submitted by proxy, the presence of the interested party in Greece is necessary. This means that an application for a residence permit, by proxy, is not allowed to third-country nationals who have never entered Greece. On the other hand, a third-country national concerned is allowed to enter the country, assign his representation to a lawyer, either by authenticating his signature by a police authority or a notary attorney, and then leaving the country and not attending the presentation of the application for a residence permit and/or the receipt of the relevant permit.

It is therefore possible to apply for a proxy, provided that the applicant submits to the competent authority an original passport of the third-country national. Similarly, it is also possible to obtain a type A certificate as well as a residence permit. The relevant regulation will apply until the introduction of the stand-alone document replacing the uniform residence permit. For the release of the stand-alone document, the third-country national will be required to have a personal presence due to the need for biometrics.

Health certificate

Third-country nationals entering the country with a D visa issued in accordance with the provisions of Article 36 A of Law 3386/2005 are exempt from the obligation to submit a health certificate as a compulsory document for the granting of the of a residence permit, provided they provide a precise and translated copy of the harmonized medical certificate form which they have submitted to the competent consular post of the country of origin. This is because the harmonized form of a medical certificate is supplemented by a recognized public or private body depending on the degree of reliability of the third-country health services which ensures that the third-country national is not suffering from a disease likely to constitute a risk to public health, international data and the World Health Organization, as well as other infectious, contagious or parasitic diseases that require measures to protect it, and therefore fully complies with the provisions of Article 10 of Law 3386/2005 and Ministerial Decision 933/2009.

Third-country nationals entering a type C entry visa are required, together with the other supporting documents, to submit a health certificate from a Greek nursing institution or a private doctor. that the person concerned is not suffering from a disease which, in accordance with International Epidemiological Data and the World Health Organization (WHO), may pose a risk to public health. For the granting of this certificate, a clinical examination of the person concerned, chest X-ray and tuberculosis reaction (Mantoux) is required, according to a relevant Ministry of Health document.

Other Clarifications

The documented intention to purchase property, evidenced by documents proving the economic viability (eg a certified bank A or an official financial institution or other recognized securities depository), certifying the existence of bank accounts or other securities, in particular bonds or shares, to cover the capital of the investment, at least EUR 250,000 and the applicant's intention to purchase the property (contract for a lawyer or a real estate agent) is required for the issue of an entry visa and does not substantiate the right to issue a residence permit.

The residence permit does not grant access to any form of work. Work within the meaning of paragraph 3 of Article 36 A of Law 3386/2005 is not considered to be an economic activity as a shareholder or a managing director. Non-statutory legal entities wishing to invest in real estate for exploitation in Greece are not subject to the provisions of Article 36 A but may be subject to the provisions of Article 26 of Law 3386/2005.

In cases of transfer of property, a third-country national loses the right of residence before five years.

Holders of residence permits have access to health and public education, in proportion to the Greeks. Third-country nationals and members of their families covered by Article 36 A, as mentioned above, should be insured to cover hospital and healthcare costs. In order to prove that this condition has been met, the following are admissible:

  • Insurance contracts concluded abroad when they explicitly state that they cover the person concerned while he/she is resident in Greece
  • Insurance policies concluded in Greece.
The residence permits of this category are renewed for an equal period of time and for as many times as the person concerned wishes, provided that the following conditions are met:
  • Real estate remains the property, property, and occupation of the person concerned
  • Leases are in effect.
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