The movement of citizens from other countries that are not members of the European Union, within the EU, is subject to certain rules and generally requires a visa. However, activities such as opening a company and/or investing in property, can entitle the person concerned to a residence permit and/or work permit. There are many categories of such permits. Among these, the most popular lately is known as the Golden Visa.

If an investor from any other non-EU country purchases a property located within the permitted territories in Greece, at the minimum value or more as stipulated by Greek Law, he/she is then granted a 5-year residence permit (Golden Visa), which also covers his/her children and parents [Certain conditions need to be met.]

Clearly, there are many issues to be taken into account. It is not possible to purchase property anywhere you want in Greece. However, places where you can buy property freely include the famous cities of Thessaloniki and Athens as well as the island of Mykonos.

The paradise-like region of Chalkidiki, which is a wonder of nature and known as the Caribbean of the Aegean, is also among the permitted regions and is very close to Thessaloniki. Therefore, choosing a region that has no restrictions and that does not require special permission to be sought in order to make the purchase will make an investor’s job easier.

The most important point that the investor should pay attention to in general, is how the property is to be paid for. In other words, the money must be transferred to the seller’s bank account in Greece and this must be officially documented. The buyer’s right to a Golden Visa vests in this way.

Since this subject raises major legal issues, we are ready to provide consultancy services to help you keep an eye on the legal side of things.

As the law is amended from time to time, we recommend that you contact us when you are ready to move forward on this issue.