According to the relevant provisions οf immigration law in force, the investor must have full ownership and possession of the property at the time of submitting the permanent resident application, and the existence of a mortgage constitutes an obstacle to this condition. The price of the real estate has to be paid via a crossed bank check or through a banking transaction from the Greek bank account of the buyer to the Greek bank account of the seller. So a loan can be taken from your bank, provided that no encumbrances, hypothecs, etc., are on the property for purchase. If your bank could provide you a loan with securities beyond the under purchase property, as mentioned, there is no obstacle for the Golden visa procedure. Your own money, plus the bank loan from your country, should be transferred to your Greek account and be used for your purchase.
How can I use bank loans to invest in real estate property in Greece and apply for a Golden Visa?
After several site investigations, an apartment building located in Athens came to my attention. Its market price is 800,000 euros. Currently, I have 260,000 euros of my own and a property in my home country that could be used as collateral to help me get a loan for 540,000 euros. How can I use the bank loan, plus my own money, to purchase the building and apply for the Golden Visa? Is there anything that I need to pay special attention to in this arrangement?
If the loan is by a Chinese or other foreign bank, there is no problem. Greek governments does not ask for exact money origin.
The over 250,000-euro part is none of the concern of the authorities regarding the resident permit. So in this respect, there is nothing really to be cautious about. You only need to make sure that at least 250,000 comes from your bank account outside to the seller's bank account in Greece (or to your bank account in Greece).