Greece offers the most economic Golden Visa program in Europe and also is the heart of Europe where the western civilization began. Moreover, the climate, beaches, islands or the way of living, made the country a very attractive option for international investors. One of the most famous programs is the Golden Visa Greece, which gives the residence in exchange for an investment in the real estate market. In the next article, Elaine Wang, Orience International specialist in compliance, explains the main changes in the Greek Golden Visa program:
Latest update of Golden Visa Greece program:
Here are the main changes of Law 4251/2014 that are now in force (after the publication of the Law 48/68/2020) :
- We no longer need the passport in order to receive the Golden Visa, only a certified copy of the passport and the blue statement. The Law doesn’t specify who must certify the copy of the passport, but most likely passports will be certified by greek lawyers.
- The Investor doesn’t have to pay the whole purchase price before the time of the contract, just before the filing of the application. In this case, two contracts will be signed a) the main purchase contract and b) a receipt – contract for the final payment of the purchase price. Moreover, an additional statement drafted and signed by the Notary which will include all the details of the payment will be required.
- The Ministers of Economy, Development and Immigration are authorized by Law to issue a joint decision in order to adjust the minimum purchase price for the investment and to draft a catalogue of different areas of Greece with different minimum purchase prices for the investment with a duration of at least five years.
- For the children of the Investor, the Golden Visa can be renewed for another 3 years, until the child becomes 24 years old.
Entrepreneurs want to invest in Athens, the capital of Mediterranean Greece. Known for its unique historical architecture within its 2,000 islands, its capital’s popular and touristy neighborhoods are the choice of brokers and real estate experts for promising investments. Even before the pandemic, real estate opportunities in the country were plentiful but in low demand, while homeowners had opted to temporarily resort to long-term leases in hopes of a recovery by the first months of 2021. Strategic investors will see the undervaluation of real estate in potential neighborhoods in the capital as a business opportunity, as there are many places for sale to buy real estate in Greece.
At Orience International we have an office and a team in Athens that can help you through the entire investment process and will accompany you so that you and your family have the visa.