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How can I switch properties and still be compliant with the requirements of the Greek Golden Visa?

I obtained my residency permit through the Greek Golden Visa program three years ago. I was presented with another residential property recently. My family was very fond of it. We would like to sell our current home and buy this new one. The sale price for this new property is more than 250,000 euros. Am I allowed to switch properties at this point? If yes, who should I notify? What are the procedures?


Answers
  • Energopiisi SA Investment Consulting Services
    August 18, 2018

    According to the provisions of the law, in cases when the real estate (property) is transferred, the third-country citizen loses the right to residency. In case of resale of the property during the period of validity of the residence permit to another third-country citizen, the right to a resident permit is granted to the new buyer along with a simultaneous revocation of the seller’s resident permit. Of course, since you intend to buy another property, according to the prerequisites of the existing legal framework, you are granted to the permanent resident permit status.

  • Papalois & Associates Legal
    August 18, 2018

    This is permitted. Obviously, you are going to sell the property first and then buy the new one. If you bought the new one before selling the current one, there will be no influence and just a process of official information of immigration office will take place. But as far as you selling before you buy new property, normally your resident permit will be recalled. Thus, you and your familiars will have to exit Greece and re-enter by a tourist visa. That way, after the new property purchase, you will re-apply at the immigration office, give fingerprints and new cards will be issued. This is the normal process. There is a chance to avoid to exiting and issuing new visa, but it depends on immigration office. The normal process is as mentioned.