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What is included in the 250,000-euro requirement for a Greek Golden Visa?

I see a home in Greece I am interested in, but it is about 245,000 euros. This is just under the required amount. But does that total amount include all the associated fees, such as closing costs, title costs and property taxes? When factoring in all that, it would make my purchase go above 250,000 euros, so am I eligible for the visa?


Answers
  • Papalois & Associates Legal
    February 01, 2019

    No. The property price must be above 250,000.

  • Aggeliki G. Androutsou
    February 01, 2019

    The amount of 250,000 euros is required for granting the Golden Visa. It is possible to find in the purchase price of a property a second place in a warehouse to the extent that it exceeds 250,000, but the cost of a notary, attorney and taxes are not included in the property market.

  • Right Target Estate
    February 01, 2019

    No, you aren’t entitled to the Golden Visa if the price of your property mentioned on the contract is 245,000 euros. It should be 250,000 and this, by law, doesn’t include any fees or expenses. But you could maybe reach an agreement with the seller and your agent or lawyer that the seller pays a part of the fees and the price is increased to 250,000 euros to reach the law’s requirements.

  • February 01, 2019

    You have the right to apply for a resident permit for owners of real estate property, provided the value of the property, as referred to in the contract of purchase, is at least 250,000 euros. This resident permit (Article 20B, Law 4251/2014, as it stands) can be renewed every five years, provided you are still the owner of the property. The total amount of 250,000 euros does not include the associated fees, such as closing costs, title costs and property taxes.

  • Dimitra Mella & Partners
    February 01, 2019

    You are not eligible for the Greek Golden Visa. According to the pertinent provisions of Greek law, the value of the purchased property, referred to in the deed of purchase, must be at least 250,000 euros. All the other expenses relating to the property purchase (taxes, notary expenses, land registry expenses, etc.) are extra and not included in the aforementioned minimum amount of investment.

  • Energopiisi SA Investment Consulting Services
    February 01, 2019

    According to Article 20B, Law 4251/2014, a permanent resident permit is granted for third-country citizens who own and possess property in Greece. The main prerequisite is the value of the property, as stated on the contract, to be at least 250,000 euros. The related expenses as taxes, notary expenses and land registry expenses are not included in the minimum required amount of investment. On the contract of purchase, it should state, “The contract of sell and purchase of the property is not subject to conditions or exemptions, the total price amounts to 250,000 euros or more, which has been paid in full with a crossed bank check or by deposit of a bank transfer to the beneficiary’s account held with a bank in Greece or a credit institution under the supervision of the Bank of Greece."