GOLDEN VISA PROGRAMME IN GREECE

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1 2015 GOLDEN VISA PROGRAMME IN GREECE PERMANENT RESIDENCE PERMIT Four (4) simple steps to Greek Residency.. Page 4 Greece My Residence Vivamus According to the Golden Visas Programme, which was announced by the Greek Government in 2013, foreign investors and their families are being given the opportunity to acquire the Greek residence permit, and consequently the European residence permit, through the new and accelerated procedures of the LAW. Continued in Page 2 The legalities of buying property in Greece are extremely straightforward and wholly safeguard s the purchaser s rights.

2 Lorem Ipsum Dolor Spring 2016 Continued from page 1 New and Accelerated Procedure for granting Permanent Immigration Permit to applicants who are third country nationals and intend to invest in the Hellenic Republic. The Law Creation of a Development Friendly Environment for Strategic and Private Investments (4146/2013) of the Ministry for Development, Competitiveness, Infrastructure, Transport and Networks, facilitates the residence of investors in Greece through the granting of residence permits for third-country citizens (non-eu citizens) and their family members, who buy property in Greece, the value of which exceeds 250,000. The allowance for these new types of residence permits have been integrated into the NEW Law 4251/2014. Greece is a EU member since 1981 as well as a member State of the Schengen area, nationals of third countries that will have residence permit in Greece, they will have the right of free travel and free movement to other Member States for three months every six months, while they will have the right of multi- entries. 2 2

3 IMMIGRATION PROGRAMME IN GREECE- REAL ESTATE OWNERS By decision of the General Secretary of Decentralised Administration, a residence permit for five (5) years is issued to a third-country citizen, if he/she has obtained a visa, if required, and legally owns, either personally or through a legal entity whose shares are wholly owned by him/her, property in Greece, or has, at minimum, a ten-year time-sharing contract under Law 1652/1986: "Time-Sharing and Regulations on Related Issues" (A 167) as applicable, or a 10-year lease of hotel accommodations or furnished tourist accommodation (houses) in tourist accommodation complexes according to Article 8, par. 2 of Law 4002/2011 (A 180). The legalities of buying property in Greece are extremely straightforward and wholly safeguard s the purchaser s rights. By joint decision of the Ministers of Interior and Finance, the value of the above-mentioned property may increase or decrease, and will be determined in accordance with the stated prices of the sale documents of the properties, or leases as per their contracts, or as determined by ministerial objective values. The period of residence, under these specific conditions, is not taken into account in cases of granting citizenship to said residents. The aforementioned residence permit will be permanent and will be renewed every five years, if the property remains unchanged in its legal ownership status as described above and the contracts of ownership remain in effect. The minimum value of the property and the contract price of the time-share leases and the leases for hotel accommodations or tourist furnished accommodations (houses) in tourist accommodation complexes, according to this Article, shall be two hundred fifty thousand (250,000) Euro. The aforementioned third-country citizen (property owner) may be accompanied by the members of his/her family, as specified under paragraph 1 of Article 54 of Law 3386/2005. Upon their own request, family members may be granted a personal residence permit that is renewed and/or expires concurrently with the residence permit of the sponsor (property owner). 3 3

4 4 Steps to Immigration A. Consultation with legal experts to ascertain whether the applicant is eligible to obtain the residence permit and collection of the required documents; B. Property inspection visit to Greece selection of the property and signing of the purchase contract; C. Submission of the applicant s application for the issuance of the residence permit by his/her authorized legal expert; After you select and reserve your property and within 30 days of your reservation, your lawyer will prepare the contract and he/she will check for encumbrances and documents such as the build license. Your lawyer will also issue your tax registration number with the official tax authorities and he/she will open a bank account on your name. The following day the conveyance is heard, read by the notary and attended by lawyers for the vendor and buyer, and the contract is signed, whereupon the balance of the purchase price is immediately paid. D. Property Management Consultation. 4 4

5 1. Natural Person Required documents for RP Application TYPE OF RESIDENCE PERMIT: BUYING PROPERTY IN GREECE Third country nationals and their family members may receive a residence permit for a five (5) year duration, provided that they acquire real property in Greece with minimum consideration of two hundred fifty thousand euros ( ). DOCUMENTS REQUIRED: 1) Photocopy of Passport. Organization can pose a risk to public health. 3) Certificate that the third country national has applied to an insurance carries in order to cover Greece. 4) Copy of the purchase and sale contract regarding the real property acquisition. 5) Certificate of registration to the relevant land registry office. Organization can pose a risk to public health 3) Copy of the statute of the legal entity, which proves that the third-country national is the owner of all shares of such legal entity. 4) Certificate that the statute of the legal entity has not been modified. 5) Certificate that the third country national has applied to an insurance carrier in order to cover Greece. 6) Copy of the purchase and sale contract regarding the real property acquisition. 7) Certificate of registration to the relevant land registry office. 3. Real Estate Rental 2. Legal Entity Third-country national and their family members may receive a residence permit for a five (5) year duration, provided that they acquire real property in Greece through a legal entity, whose shares belong to them entirely. DOCUMENTS REQUIRED: 1) Photocopy of Passport. Third-country national and their family members may receive a residence permit for a five (5) year duration, provided that they have concluded a ten year timeshare rental agreement or a ten year leasing agreement of concerning hotel accommodations or touristic furnished residences in integrated tourisitic resorts, with contractual value of at least euros. DOCUMENTS REQUIRED 1) Photocopy of Passport 5 5

6 Continued FAMILY MEMBERS Organization can pose a risk to public health. 3) Certificate that the third country national has applied to an insurance carries in order to cover Greece 4) Copy of the lease contract, which proves the lump sum payment of euro and which mentions the operation license from the National Tourism Organism 5) Certificate of registration to the relevant land registry office. The above mentioned third country nationals can be accompanied by their family members, who are provided with a personal permit which expires along with their sponsor s permit. Family members are considered to be the spouses and their common children under 21 years old (including adopted), along with the children of the spouse, as well as the parents (mother and father) of both of the spouses respectively. DOCUMENTS REQUIRED 1) Photocopy of Passport. Organization can pose a risk to public health. 3) Certificate that the third country national has applied to an insurance carries in order to cover Greece. 4) Current marital-family status certificate by the applicable foreign authority, duly translated. 6 6

7 ü Simple ü Fast ü Designed at your schedule After you sign your purchase contract and transfer the money, you will have the key of your house. 3 Santaroza Street, 10564, Athens, Greece Tel: , info@lancrogroup.com