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Golden Visa Greece: Visas & Immigration Law in Greece

Golden Visa Greece

Third-country citizens can obtain a residency permit in Greece – popularly known as a ‘Golden Visa’ by purchasing real–estate property in Greece for a value that exceeds 250,000 Euros. The permit can give the right to a non–EU citizen to reside legally in Greece, while enjoying certain EU citizens’ rights. Family members of the owners are also beneficiaries of the same residency permit.

In order for third–country citizens to apply for the permit they should have entered Greece legally holding any type of visa or be legal residents in the country even if the residency permit they have obtained does not allow for a change of residency scope.

Applying for the so – called “golden visa” can be a challenging procedure and requesting legal assistance from an experienced lawyer is vital for a successful application.

Economically Independent Visas

Another type of visa that has received less of attention but can lead to the acquisition of residency permit in Greece is the “financially or economically independent visa”. It gives the right to third–country citizens who are economically independent to reside legally in Greece, under the condition that they have “sufficient resources” to cover their living expenses without working or investing in Greece. In other words, this kind of visa is addressed to non – EU citizens that have a lawful steady income earned outside Greece (e.g. pension in their home country) and hold the adequate docs to prove it.

Even though the relevant legislation provides for the specific prerequisites, both the competent consular/embassies (visa application) and the local competent authorities (issuing of permit) tend to interpret the “sufficient resources” condition in diverse ways.

The law provides that the applicant should not have any work or independent economic or investment activity in Greece, but in practice we have noted visa applications can be rejected when the applicants solely provide proof of income linked to a specific job activity in their country as well.

The law requires that the applicant shall have resources of 2.000 euros per month (increased for each family member that wishes to apply as well), and as proof bank statements or pension certificates can be accepted or other kind of proof.

This last wording leaves lots of space for interpretation by the competent authorities as we have observed in practice and referring to an experienced lawyer that will assess your individual case and advise you accordingly before applying can be proven significantly important.

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Golden Visa

Available in the following locations: .

* If your local town is not listed, a lawyer from our nearest office will be happy to assist you.

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1Who is this Service for?

Introduced by Turkish Law 5091, the Golden Visa programme in Turkey offers applicants the option of obtaining a 5 year residency visa or indeed Turkish citizenship upon making a suitable investment as described in the legislation.

 

The most popular qualification route is the purchase of property valued at $250,000 (without a mortgage).The visa permits the holder to enter and exit Turkey as and when they wish, without any requirement to spend a minimum period of time in the country. Other investment options include:

  • Fixed capital investment of at least $500.000
  • Own a business employing at least 50 employees
  • Deposit $500,000 in a Turkish-based bank and keep the money there for at least 3 years
  • Purchase public borrowing instruments with a value at least $500.000
  • Invest $500,000 in a real estate investment fund for a period of at least 3 years

2Requirements

  • Main applicant must be over 18 years of age
  • Valid passport
  • Valid Birth Certificate
  • Suitable private health insurance
  • No criminal record in Spain or in country of Origin
  • Evidence of having made one of the approved investments
     
     

3Benefits

  • Expedited Process (much simpler than other visa application processes)
  • Goldent Visa holder may leave and return to Turkeyas often as they wish without restriction
  • This visa confers a right to both live and work in Turkey
  • Longer residency approved initially with less renewal requirements
  • Ability to bring your family

4Potential Issues

If buying land to build your own house, it is vital to check the records to determine whether it complies with agricultural regulations. An advance-fixing certificate is required to prevent the division of agricultural  lands.

Also, it is a common practice by property sellers to advertise the price of a property at a lower rate than the actual price (to lower their tax liability).

To avoid the problems that this could cause to your residency/citizenship application, your legal representative can obtain an independent report on the true value of the property from the local Council and then use this documented valuation in order to support your application for Turkish citizenship.

5What does this service consist of?

  • An initial discussion with lawyers highly experienced in making successful applications for a Golden Visa
  • An application for visa by property purchase is prepared, and all other documents required for a successful application are assembled under the guidance of your lawyer
  • Your lawyer makes the application to the appropriate governmental bodies, on your behalf, in the correct time-frame
  • You will be informed of the success of the application
  • Once approved, your lawyer will assist you to collect your residency card

6Free Support Services Included

When combined with the free and innovative Advocate Abroad support services you can be sure that you are obtaining completely transparent legal services from registered and regulated English-speaking lawyers abroad.These support services include:

  • Verification of the regulatory status of your professional.
  • Fees as recommended by the Local Professional Body
  • Fees specified in advance and legally guaranteed.
  • Service levels agreed in advance and guaranteed.
  • All professionals must hold professional indemnity insurance.
  • Professionals' proficiency in English monitored.
  • Continuous quality controls and reviews.
Support services

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