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Can a U.K. citizen participate in the Greece Golden Visa program after Brexit?

A few years ago, I bought a home in Athens. I am a U.K. citizen. I live in Greece several months out of the year and have never needed any kind of visa to do so. However, Brexit may change things. Should I participate in the Golden Visa program to continue living in Greece? Could I keep my property or I would I need to buy another? How might Brexit affect me?


Answers
  • Varnavas Law Firm 1978
    May 26, 2020

    Recently, the terms and transition period for Britain's exit from the European Union have been regulated. This transitional period is set until Dec. 31, 2020. Until then, British citizens will have the same rights as other European citizens, so it is not possible for a British citizen to take advantage of the Golden Visa program until this date. The Golden Visa program is intended only for non-EU citizens. From 01/01/2021, when the transition period ends, you will probably be able to benefit from the Greek Golden Visa program as you will no longer be considered a citizen of a European Union, as long as your real estate investment fulfills the golden visa law requirements.

  • Penny Konitsioti
    July 25, 2019

    Please be aware that Brexit has nothing to do with Golden Visa, neither with your property already obtained in Greece. You may keep of course your property. In case you need though to apply for Golden Visa procedure you may find useful following information: The scope of the existing scheme is added by adding and intangible investments to the investment activities for which an entry and residence permit can be issued to third-country nationals. In particular, the following categories of intangible investments are added which contribute to the development and stimulation of the national economy: a) Purchase of shares in a share capital increase or bonds issued on a bond loan, companies based in Greece or located in Greece listed on the Greek stock market. b) Capital contribution to a real estate investment company (REIC of Law 2778/1999), which invests exclusively in real estate in Greece for the acquisition of shares, upon the increase of its share capital. c) Acquisition of shares or shares in domestic Alternative Investments Organizations (Equity Holdings - ACS of Law 1992/1992 and Equity Holdings Companies - EGTC of Law 2367/1995) investing exclusively in companies with headquarters or establishment in Greece. d) Purchase of bonds issued by the Greek State. e) Forward deposit with a National Banking Institution. f) Purchase of shares, corporate bonds and/or Greek government bonds admitted to trading or traded on the Greek stock market. g) Purchase of units in a mutual fund incorporated in Greece or another country and investing exclusively in securities (shares and corporate bonds or Greek government bonds) that are admitted to trading or traded on the Greek stock market. h) Purchase of shares or shares in an Alternative Investment Organization which is incorporated in Greece or another country of the European Union and invests exclusively in real estate in Greece.

  • Energopiisi SA Investment Consulting Services
    July 25, 2019

    Τhe Golden Visa program refers to third-country nationals. Up to now, there was no question with the citizens of England, as their origin country was a member-state of the EU. This question could be answered with safety once the text and the conditions of the exit agreement are finalized and the related framework is applied, clarified and agreed.

  • Right Target Estate
    July 25, 2019

    We need to see all the consequences of the Brexit first. It could affect the entry and stay Status of UK Passport holders only if Uk exits also Schengen treaty which I doubt personally. In case you finally need a visa to enter Greece then yes your property could be used for this purpose if you have paid for the price of your property with funds coming from outside Greece. I hope the above helps.

  • Stilianos Ch. Proestakis
    July 25, 2019

    The process of Brexit so far doesn't affect your residence in EU countries. As long as EU exists there is no need for participation in any Golden Visa program for a UK citizen.