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How can I purchase land and apply for a Greek Golden Visa?

I want to purchase a piece of land and build my own house in the suburbs of Athens. I also want to use this investment for my Greek Golden Visa application. The market price for this land is below 250,000 euros, though. What should I do to proceed with my application? If I spend extra money on the construction of the house, can I qualify?


Answers
  • Energopiisi SA Investment Consulting Services
    September 26, 2019

    Beneficiaries of the right of a permanent resident permit for real estate owners, which shall be renewed every five years, are also third-country citizens who purchase a plot of land or acreage and proceed to erect a building, provided that the cumulative value of the land purchase and the contract with the construction company is at a minimum of 250,000 euros. If the acquisition price of the property is 250,000 euros, you are entitled to a Golden Visa. It could be only a plot and in case, as yours, that the piece of land costs less than 250,000 euros, you should proceed to development. You are entitled to the residence permit, under the condition that for your application you submit the acquisition contract of the plot together with a construction contract and the related invoices legally paid off. The value of land on the contract plus value of paid invoices, excluding VAT, should be at least 250,000 euros.

  • Penny Konitsioti
    September 25, 2019

    You may either as a physical entity to directly buy a property of at least 250,000 euros or proceed to investment. The scope of the existing scheme is added by adding and intangible investments to the investment activities for which an entry and resident permit can be issued to third-country nationals.

  • Right Target Estate
    September 25, 2019

    Yes, in this case you are still entitled to the permit. But you must make sure that the value of land on the contract plus value of invoices, excluding VAT, equals 250,000 euros.

  • Papalois & Associates Legal
    September 25, 2019

    Yes, if you spend more money for the construction part, you can apply for Golden Visa. Of course, this means that you should sign a construction contract with a contractor for the building of the house. And the total price of the plot and construction should be at least 250,000 euros or more.

  • Stilianos Ch. Proestakis
    September 24, 2019

    The price of the property has to to be up or more to 250,000 euros. It doesn't matter if you spend extra money on the construction of the house afterward, then you are not qualified for Greek Golden Visa.