A. Rights in real estate

Real estate owners in Greece may have different rights.


It is essential that the buyer establishes which (among the aforementioned) is the right of the seller to be transferred in every transaction, in order to ensure that the value of the real estate is reflected in the rights that come along with the sale.

B.Acquisition of real estate in Greece

There are various ways of acquiring real estate in Greece. For investors, these mainly concern the two following:


C. The process of acquiring real estate in Greece:
D. Taxation

D1. FOR OWNERSHIP OF PROPERTY

Ownership of real estate in Greece is subject to an annual tax (ENFIA) which is calculated based on the value of each property usually between 0,1% and 0,8%. Currently the annual tax is payable in 5 installments and it is applicable in all types of real estate assets – including cases of rights on properties (as mentioned in 1. above). This kind of tax applies to both natural persons and legal entities regardless of whether they are resident and/or have their registered seat in Greece.


D2. FOR INCOME GENERATED BY THE PROPERTY

Property-based income (short or long-term rentals, Airbnb, long-term leases etc) are subject to taxation. Natural persons who benefit from rental income are taxed at various rates (thresholds are in place depending on the amount of revenue produced). Legal entities owning real estate assets are taxed differently as the rental income is regarded as revenue and is subject to 24% corporate tax.

E. Important parameters for consideration prior to the acquisition

As in every country, certain restrictions apply to investors who buy real estate in Greece:

E1. Acquisitions in forest areas: Subject to the Hellenic Constitution, land uses in areas regarded as forest cannot be changed.


E2. Acquisitions outside urban zoning: Special attention must be paid to plots which happen to be outside urban or residential areas as they often have limitations with regard to the development capacity they offer and in most cases plots cannot be divided in smaller segments. In contradiction to other countries building outside of city/town plan is permitted in Greece and you should know as general rule that land over 4.000 m2 outside of town plan is buildable.


E3. Acquisitions of real estate in regions close to the national borders : There are specific prerequisites for acquisitions in areas close to the borders. In these areas, foreign investors can acquire real estate upon receipt of special permission by joint ministerial approval. A publicly available list identifies such areas. Strict restrictions apply and investors should conduct thorough research into such plots prior to purchase.


E4. Acquisitions on the coastline: Development of real estate that is situated close to the coast may be prohibited or allowed under very specific terms set by the State.


Acquisitions on the coastline: Development of real estate that is situated close to the coast may be prohibited or allowed under very specific terms set by the State.


E5. Acquisitions in areas where antiquities are located: Development may be prohibited or allowed under very specific terms in areas where historic monuments may be located. In most cases, special permission is required by the Ministry of Culture’s competent directorate.


E6. Acquisitions in areas of outstanding natural beauty (Natura) or under a special environmental protection regime. Both acquisition and development of real estate in such areas may be blocked by the Ministry of Environment due to restrictions that may apply.

F. Greece Golden Visa – How to Get Permanent Residency and Citizenship

The Golden Visa for Greece is one of the most popular investment visa programs in the EU. It is a residence-by-investment visa, issued to non-EU citizens who make a significant contribution to the Greek economy. There are several investment options, but the most common route is through purchasing real estate worth at least a quarter of a million.
Golden Visas issued by the EU Member States such as Greece are especially coveted, as they may eventually lead to citizenship and thus access to the EU.


The Greece Golden Visa offers immediate five-year residency to the investor as well as their immediate family members, as well as free travel in the Schengen Zone.


F1. INVESTMENT OPTIONS FOR THE GOLDEN VISA IN GREECE:
To qualify for a Golden Visa for Greece, you must make one of the following investments:


Although in most cases, you should be in Greece to finalize your investment, you may also do it remotely, if you give Power of Attorney to a legal representative.
Considering the funds involved, most applicants will obtain legal help during the process.
We collaborate with specialised legal consultants that will make the process easy for you.


F2. AM I ELIGIBLE?
Eligibility criteria for a Greek Golden Visa are:


You can consult with our legal experts for free to determine whether you are eligible for the Greek Golden Visa Scheme. If you are, they can help you with the investment procurement as well as the Greek visa application process.


F3. BENEFITS OF THE GREEK GOLDEN
A Greek Golden Visa is one of the most competitive Golden Visas in the EU and is accompanied by the following benefits:



F4. DURATION OF THE GOLDEN VISA

The Golden Visa for Greece is issued for five years and can be renewed indefinitely as long as you maintain the investment.

If you ultimately choose to live in Greece, then after seven years of continuous residence, you can also apply for Greek citizenship


F5. HOW LONG DO I NEED TO LIVE IN GREECE TO RENEW MY GOLDEN VISA?

Unlike most other countries that issue Golden Visas, you do not need to live in Greece at all in order to renew the residence permit. You can keep renewing it every five years, as long as you have still maintained your investment.

To renew the residence permit, you have to provide proof that the real estate property is still in your ownership or a solemn declaration by the relevant representatives that the investment is still ongoing.


F6. CAN I GET GREEK CITIZENSHIP BY INVESTMENT?

es, you can become a Greek citizen by making an investment in Greece and obtaining a Golden Visa. However, unlike residency, you cannot apply for Greek citizenship without actually living there and paying taxes. You must live in Greece for at least seven years before being eligible to apply for citizenship.


In addition, you must also be able to prove you have ties to the country and knowledge of the Greek language and culture, at least on a basic level.


F7. HOW TO APPLY FOR A GOLDEN VISA IN GREECE?
You have to apply for a Greek Golden Visa at the Alien and Immigration Department at the Decentralised Authority in Greece. Before that, you must apply for an entry visa at one of the Greek Embassies or Consulates abroad.
An outline of the Golden Visa application process is the following:


Our experts can help you arrange your trip to Greece, will guide you through the investment process, accompany you as you visit properties, meet with lawyers and government officials, and finally, apply for the Greek Golden Visa.


F8. WHAT DOCUMENTS DO I NEED TO APPLY FOR GOLDEN VISA?
The required documents when applying for a Greece Golden Visa are the following:


DOCUMENT GUIDELINES