TEKTON PROPERTIES
TEKTON PROPERTIES

Golden Visa - Residence permit

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The documents for granting a residence permit in Greece to investors and buyers of real estate over two hundred and fifty thousand euros (250,000 €) are set by the Ministry of the Interior and concern third-country citizens who make "strategic" investments. The same applies to executives (and their family members) for whom the issuance of a residence permit is considered a prerequisite for the proper implementation of this investment plan.

The beneficiary of a right of residence for a period of five years is a Third Country Citizen who, either personally or through a legal entity (provided that he has full ownership of the company’s shares), has the ownership of a real estate property in Greece, the minimum value of which amounts to two hundred and fifty thousand euros (250,000 €).

In the case of co-ownership of a property worth € 250,000, a right of residence is granted only if the owners of the property are spouses who own the property jointly. In all other cases of co-ownership, the right of residence is granted only if the amount invested by each co-owner is EUR 250,000 and also if:

• they have signed a lease of at least ten years for hotel accommodations or furnished tourist residences in integrated tourist resorts, provided that the minimum lease value is two hundred and fifty thousand euros (250,000 €).

• either they reside legally, with a residence permit, in Greece or wish to enter and reside in the country and have full ownership and possession of real property in Greece, purchased before the enactment of law, if the price they had paid at the time of the purchase was two hundred and fifty thousand euros or the current objective value of their real estate amounts to two hundred and fifty thousand euros (250,000 euros).

• they have full ownership and legal possession of a real property in Greece, the minimum value of which is two hundred and fifty thousand euros (250,000 €) and which has been transferred to them by donation or parental gift. The right of residence in this case is exercised only by the receiver of the donation or the recipient of the parental gift.

• they buy a parcel of land or plot and proceed to erecting a building, provided that the cumulative value of the land purchase and of the contract with the construction company is at least two hundred and fifty thousand euros (250,000 €).

• they have signed a ten-year time share lease based on the provisions of Law 1652/1986. A time share lease agreement, according to article 1 of Law 1652/1986, is the commitment of the lessor to grant each year to the lessee, for the duration of the agreement, the use of a tourist accommodation and to provide to them the relevant services for the determined by the contract period of time and the lessee must pay the agreed rent.

Family members of the above third country citizens are also beneficiaries. Family members entitled to enter and stay shall be:

• Spouses, having reached the age of 18, their common children who are under the age of 18 and unmarried, including those adopted, as well as the parents of both spouses.

• The rest, under the age of 18, unmarried children of the guardian or of the other spouse, including children adopted, if they are entrusted with the exercise of parental responsibility. The children of third-country citizens, who have been admitted to Greece in accordance with the terms and conditions of Article 36a and who have reached adulthood, shall be granted a separate residence permit.

In the case of beneficiaries, apart from the horizontal supporting documents (passport with the relevant valid entry visa, photographs, health certificate where an insurance certificate is required to cover hospital and healthcare expenses) the following documents are required:

• purchase contract,

• proof of transfer of the contract from the competent land registry.

In addition, the following shall be provided on a case-by-case basis:

In the case of the Beneficiary of category A.1., among the supporting documents a notarial statement is included stating that: "The purchase and sale contract of the property is not subject to conditions, exemptions and deadlines in accordance with paragraph 2 of article 6 of Law 4146/2013 and the price was paid in full. " It is clarified that the value of the property for the purposes of Law 4146/2013 is the amount explicitly stated in the contract that it was paid for the purchase and sale. The objective value of the property is of no interest unless it consists the amount stated in the contract that it was paid for the purchase and sale.

In the case of the Beneficiary of category A.2. the following are required additionally:

• Copy of a notarial document for the lease of hotel accommodation or furnished tourist residences in integrated tourist resorts, evidencing the single payment of EUR 250,000 and including a mention of the granting of the relevant operation license issued by GNTO (Greek National Tourism Organization).

• Proof of transcription of the competent land registry in which the relevant lease contract has been transcribed.

In the case of the Beneficiary of category A.3. if the price paid, prior to the enforcement of Law 4146/2013, at the time of purchase of the property was less than two hundred and fifty (250,000) thousand euros but the current objective value of the property exceeds or is equal to that amount, a notarial certificate must be included in the documents that are submitted, stating the following: 'From the inspection of the no. …… real estate purchase contract it can be concluded that the value of the property has been paid in full and the contract is NO LONGER subject to terms, exemptions and deadlines and the objective value of the property as it stands today is equivalent to the amount of…. ”

In the case of the Beneficiary of category A.5. the following are required additionally:

• Contract of purchase of parcel of land or plot

• A contract with a construction company for the erection/restoration of a residence filed with the tax office in accordance with the law

• building permit in the name of the person concerned

• the contractor (s) 's invoices and the corresponding payment receipts.

In the case of the Beneficiary of category A.6. the following are required additionally:

• a time share lease contract of at least 10 years indicating the price corresponding to each year

• proof of transcription from the competent Land Registry

• confirmation by the Greek National Tourism Organization that they have been informed of the establishment of this specific time share lease.

Entry visa - Residence permit

The provisions of Article 6, paragraph 2 of Law 4146/2013, stipulate that, except for the specific conditions, a third-country citizen can obtain a residence permit only if he has an entry visa, when required. In cooperation with the Ministry of Foreign Affairs and for reasons primarily regarding the service of the persons concerned, possession of a national entry visa (type D) was preferred, given the advantages of such entry visa to its holder (free movement of the holder in the unified Schengen area, valid for up to one year, multiple entry right, etc.). In practice, it has been shown that the majority of the concerned third-country citizens opt for a C-type entry visa to enter the country.

Bearing in mind that the legislature's intention is to facilitate the concerned third-country citizens, it is specified that the ability of a residence permit application based on the provisions of paragraph 2 of article 6 of Law 4146/2013 is granted to any third-country citizen residing legally in Greece regardless of his / her status or type of residence permit. This includes both Type C entry visa holders and asylum seekers. In the light of the above, any requests submitted and pending before your services, prior to the issue of the current circular, will also be considered.

Applying for a residence permit in person or through a lawyer

The provisions of Law 3386/2005, article 73 par. 1 stipulate that:

"Without prejudice to the establishment of an independent document, an application for an initial residence permit or any renewal thereof may be made, either in the presence of a third-country citizen, or by a lawyer representing him or by spouses, ascendants and adult descendants. The power of attorney shall be demonstrated in writing by endorsing the authenticity of the signature of the third country citizen exclusively by the police. " In addition, with Circular 30/2007, it is made possible to apply through a power of attorney also in cases where this is demonstrated by a notarial power of attorney.

In the light of the above it was stated in Circular No. 18/2013 that even if the application is submitted by a proxy, the presence of the person concerned in Greece is necessary. This means that it is not permissible to apply for a residence permit, through a proxy, to third-country citizens who have never entered Greece. On the contrary, the third-country citizen concerned may enter the country, assign their representation to a lawyer, either with a proof of authenticity of their signature issued by a police authority or with a notarized power of attorney and then leave the country and not be present during the submission of the application for a residence permit and / or the reception of the relevant permit.

It is therefore possible to submit the application via proxy, provided that the applicant also submits to the competent authority an original passport of the third-country citizen. Similarly, it is also possible to obtain the Type A certificate as well as the residence permit. The relevant provision will remain in force until the establishment of an independent document replacing the unified type of residence permit. For the granting of the independent document, the presence of the third-country citizen will be required, due to the need to obtain biometric data.

Health certificate

Citizens of third countries who enter the country with a Type D entry visa, issued in accordance with the provisions of Article 36 A of Law 3386/2005, are exempt from the obligation to submit a health certificate as a compulsory document for the granting of the residence permit, provided they present a precise and translated copy of the harmonized medical certificate form submitted to the competent consular authority of the country of origin. This is because the harmonized medical certificate form is completed by a recognized public or private body, depending on the degree of reliability of the third-country health services, and certifies that the third-country citizen is not suffering from a disease that is likely to pose a public health risk, according to the international data and the World Health Organization, as well as other infectious, contagious or parasitic diseases, which require measures to protect it and thus fully comply with the provisions of Article 10 of Law no. 3386/2005 and the Ministerial Decision 933/2009.

Third-country citizens who enter with a Type C visa (C) are required, along with other supporting documents, to submit a health certificate from a Greek hospital or private doctor, stating that the person concerned does not suffer from a disease which, according to the International Epidemiological Data and the World Health Organization (WHO), may pose a risk to public health. This certificate requires, according to a relevant Ministry of Health document, a clinical examination of the person concerned, a chest X-ray and the conducting of a Tuberculosis Reaction (Mantoux).

Other Clarifications

The documented intent to purchase a property, evidenced by documents proving the financial capacity (eg attestation of a recognized Class A bank or official financial institution or other recognized securities holding institution), certifying the existence of bank accounts or other mobile assets, in particular bonds or shares, to cover investment funds of at least EUR 250,000 and the applicant's intention to purchase the property (contract with a law firm or real estate agency) is required for the issuance of an entry visa and does not substantiate the right to obtain a residence permit.

The residence permit does not grant access to any form of work. Work within the meaning of paragraph 3 of article 36a of Law 3386/2005 is not considered to be an economic activity in the capacity of a shareholder or a managing director. Non single member legal entities wishing to invest in real estate in Greece for exploitation are not subject to the provisions of Article 36 A but could be subject to the provisions of Article 26 of Law 3386/2005.

In cases of transfer of real property, before the expiry of five years, the third-country citizen loses the right of residence.

Holders of residence permits have access to health and public education, proportionally to Greeks. Third-country citizens and their family members who are subject to the provisions of Article 36a, as stated above, must be insured to cover hospitalization and medical expenses. In order to demonstrate the fulfillment of this condition, the following shall be accepted:

• Insurance contracts which have been signed abroad if they explicitly state that they cover the person concerned as long as they reside in Greece

• Insurance policies which have been signed in Greece.

Residence permits in this category are renewable for an equivalent period and as many times as the applicant wishes, provided the following conditions are met:

• the real property remains in the full ownership and possession of the person concerned

• The planned leases remain in force.

The documents for granting a residence permit in Greece to investors and buyers of real estate over two hundred and fifty thousand euros (250,000 €) are set by the Ministry of the Interior and concern third-country citizens who make "strategic" investments. The same applies to executives (and their family members) for whom the issuance of a residence permit is considered a prerequisite for the proper implementation of this investment plan.

The beneficiary of a right of residence for a period of five years is a Third Country Citizen who, either personally or through a legal entity (provided that he has full ownership of the company’s shares), has the ownership of a real estate property in Greece, the minimum value of which amounts to two hundred and fifty thousand euros (250,000 €).

In the case of co-ownership of a property worth € 250,000, a right of residence is granted only if the owners of the property are spouses who own the property jointly. In all other cases of co-ownership, the right of residence is granted only if the amount invested by each co-owner is EUR 250,000 and also if:

• they have signed a lease of at least ten years for hotel accommodations or furnished tourist residences in integrated tourist resorts, provided that the minimum lease value is two hundred and fifty thousand euros (250,000 €).

• either they reside legally, with a residence permit, in Greece or wish to enter and reside in the country and have full ownership and possession of real property in Greece, purchased before the enactment of law, if the price they had paid at the time of the purchase was two hundred and fifty thousand euros or the current objective value of their real estate amounts to two hundred and fifty thousand euros (250,000 euros).

• they have full ownership and legal possession of a real property in Greece, the minimum value of which is two hundred and fifty thousand euros (250,000 €) and which has been transferred to them by donation or parental gift. The right of residence in this case is exercised only by the receiver of the donation or the recipient of the parental gift.

• they buy a parcel of land or plot and proceed to erecting a building, provided that the cumulative value of the land purchase and of the contract with the construction company is at least two hundred and fifty thousand euros (250,000 €).

• they have signed a ten-year time share lease based on the provisions of Law 1652/1986. A time share lease agreement, according to article 1 of Law 1652/1986, is the commitment of the lessor to grant each year to the lessee, for the duration of the agreement, the use of a tourist accommodation and to provide to them the relevant services for the determined by the contract period of time and the lessee must pay the agreed rent.

Family members of the above third country citizens are also beneficiaries. Family members entitled to enter and stay shall be:

• Spouses, having reached the age of 18, their common children who are under the age of 18 and unmarried, including those adopted, as well as the parents of both spouses.

• The rest, under the age of 18, unmarried children of the guardian or of the other spouse, including children adopted, if they are entrusted with the exercise of parental responsibility. The children of third-country citizens, who have been admitted to Greece in accordance with the terms and conditions of Article 36a and who have reached adulthood, shall be granted a separate residence permit.

In the case of beneficiaries, apart from the horizontal supporting documents (passport with the relevant valid entry visa, photographs, health certificate where an insurance certificate is required to cover hospital and healthcare expenses) the following documents are required:

• purchase contract,

• proof of transfer of the contract from the competent land registry.

In addition, the following shall be provided on a case-by-case basis:

In the case of the Beneficiary of category A.1., among the supporting documents a notarial statement is included stating that: "The purchase and sale contract of the property is not subject to conditions, exemptions and deadlines in accordance with paragraph 2 of article 6 of Law 4146/2013 and the price was paid in full. " It is clarified that the value of the property for the purposes of Law 4146/2013 is the amount explicitly stated in the contract that it was paid for the purchase and sale. The objective value of the property is of no interest unless it consists the amount stated in the contract that it was paid for the purchase and sale.

In the case of the Beneficiary of category A.2. the following are required additionally:

• Copy of a notarial document for the lease of hotel accommodation or furnished tourist residences in integrated tourist resorts, evidencing the single payment of EUR 250,000 and including a mention of the granting of the relevant operation license issued by GNTO (Greek National Tourism Organization).

• Proof of transcription of the competent land registry in which the relevant lease contract has been transcribed.

In the case of the Beneficiary of category A.3. if the price paid, prior to the enforcement of Law 4146/2013, at the time of purchase of the property was less than two hundred and fifty (250,000) thousand euros but the current objective value of the property exceeds or is equal to that amount, a notarial certificate must be included in the documents that are submitted, stating the following: 'From the inspection of the no. …… real estate purchase contract it can be concluded that the value of the property has been paid in full and the contract is NO LONGER subject to terms, exemptions and deadlines and the objective value of the property as it stands today is equivalent to the amount of…. ”

In the case of the Beneficiary of category A.5. the following are required additionally:

• Contract of purchase of parcel of land or plot

• A contract with a construction company for the erection/restoration of a residence filed with the tax office in accordance with the law

• building permit in the name of the person concerned

• the contractor (s) 's invoices and the corresponding payment receipts.

In the case of the Beneficiary of category A.6. the following are required additionally:

• a time share lease contract of at least 10 years indicating the price corresponding to each year

• proof of transcription from the competent Land Registry

• confirmation by the Greek National Tourism Organization that they have been informed of the establishment of this specific time share lease.

Entry visa - Residence permit

The provisions of Article 6, paragraph 2 of Law 4146/2013, stipulate that, except for the specific conditions, a third-country citizen can obtain a residence permit only if he has an entry visa, when required. In cooperation with the Ministry of Foreign Affairs and for reasons primarily regarding the service of the persons concerned, possession of a national entry visa (type D) was preferred, given the advantages of such entry visa to its holder (free movement of the holder in the unified Schengen area, valid for up to one year, multiple entry right, etc.). In practice, it has been shown that the majority of the concerned third-country citizens opt for a C-type entry visa to enter the country.

Bearing in mind that the legislature's intention is to facilitate the concerned third-country citizens, it is specified that the ability of a residence permit application based on the provisions of paragraph 2 of article 6 of Law 4146/2013 is granted to any third-country citizen residing legally in Greece regardless of his / her status or type of residence permit. This includes both Type C entry visa holders and asylum seekers. In the light of the above, any requests submitted and pending before your services, prior to the issue of the current circular, will also be considered.

Applying for a residence permit in person or through a lawyer

The provisions of Law 3386/2005, article 73 par. 1 stipulate that:

"Without prejudice to the establishment of an independent document, an application for an initial residence permit or any renewal thereof may be made, either in the presence of a third-country citizen, or by a lawyer representing him or by spouses, ascendants and adult descendants. The power of attorney shall be demonstrated in writing by endorsing the authenticity of the signature of the third country citizen exclusively by the police. " In addition, with Circular 30/2007, it is made possible to apply through a power of attorney also in cases where this is demonstrated by a notarial power of attorney.

In the light of the above it was stated in Circular No. 18/2013 that even if the application is submitted by a proxy, the presence of the person concerned in Greece is necessary. This means that it is not permissible to apply for a residence permit, through a proxy, to third-country citizens who have never entered Greece. On the contrary, the third-country citizen concerned may enter the country, assign their representation to a lawyer, either with a proof of authenticity of their signature issued by a police authority or with a notarized power of attorney and then leave the country and not be present during the submission of the application for a residence permit and / or the reception of the relevant permit.

It is therefore possible to submit the application via proxy, provided that the applicant also submits to the competent authority an original passport of the third-country citizen. Similarly, it is also possible to obtain the Type A certificate as well as the residence permit. The relevant provision will remain in force until the establishment of an independent document replacing the unified type of residence permit. For the granting of the independent document, the presence of the third-country citizen will be required, due to the need to obtain biometric data.

Health certificate

Citizens of third countries who enter the country with a Type D entry visa, issued in accordance with the provisions of Article 36 A of Law 3386/2005, are exempt from the obligation to submit a health certificate as a compulsory document for the granting of the residence permit, provided they present a precise and translated copy of the harmonized medical certificate form submitted to the competent consular authority of the country of origin. This is because the harmonized medical certificate form is completed by a recognized public or private body, depending on the degree of reliability of the third-country health services, and certifies that the third-country citizen is not suffering from a disease that is likely to pose a public health risk, according to the international data and the World Health Organization, as well as other infectious, contagious or parasitic diseases, which require measures to protect it and thus fully comply with the provisions of Article 10 of Law no. 3386/2005 and the Ministerial Decision 933/2009.

Third-country citizens who enter with a Type C visa (C) are required, along with other supporting documents, to submit a health certificate from a Greek hospital or private doctor, stating that the person concerned does not suffer from a disease which, according to the International Epidemiological Data and the World Health Organization (WHO), may pose a risk to public health. This certificate requires, according to a relevant Ministry of Health document, a clinical examination of the person concerned, a chest X-ray and the conducting of a Tuberculosis Reaction (Mantoux).

Other Clarifications

The documented intent to purchase a property, evidenced by documents proving the financial capacity (eg attestation of a recognized Class A bank or official financial institution or other recognized securities holding institution), certifying the existence of bank accounts or other mobile assets, in particular bonds or shares, to cover investment funds of at least EUR 250,000 and the applicant's intention to purchase the property (contract with a law firm or real estate agency) is required for the issuance of an entry visa and does not substantiate the right to obtain a residence permit.

The residence permit does not grant access to any form of work. Work within the meaning of paragraph 3 of article 36a of Law 3386/2005 is not considered to be an economic activity in the capacity of a shareholder or a managing director. Non single member legal entities wishing to invest in real estate in Greece for exploitation are not subject to the provisions of Article 36 A but could be subject to the provisions of Article 26 of Law 3386/2005.

In cases of transfer of real property, before the expiry of five years, the third-country citizen loses the right of residence.

Holders of residence permits have access to health and public education, proportionally to Greeks. Third-country citizens and their family members who are subject to the provisions of Article 36a, as stated above, must be insured to cover hospitalization and medical expenses. In order to demonstrate the fulfillment of this condition, the following shall be accepted:

• Insurance contracts which have been signed abroad if they explicitly state that they cover the person concerned as long as they reside in Greece

• Insurance policies which have been signed in Greece.

Residence permits in this category are renewable for an equivalent period and as many times as the applicant wishes, provided the following conditions are met:

• the real property remains in the full ownership and possession of the person concerned

• The planned leases remain in force.

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