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If I buy a small store and property in Greece, does it qualify for a Golden Visa?

I wish to purchase a small convenience store in Pireas that would cost more than 250,000 euros. The purchase includes the building containing the store. Given this business, I want to manage it and receive the profits. Is this possible under the Golden Visa program if I am the chief executive of the store, even though I'm not technically allowed to work?


Answers
  • Dimitra Mella & Partners
    February 26, 2019

    According to the pertinent provision of Greek law, you can legally obtain the Greek Golden Visa provided that you proceed to a real estate property purchase amounting at least to 250,000 euros. Greek law does not distinguish between residential and commercial property. Subsequently, the building you refer is eligible for the Greek Golden Visa program. However, the Greek Golden Visa does not give right to access to any type of employment (with the exception of the exercise of economic activity in the capacity of a shareholder or chief executive officer of companies established before your application for Golden Visa), according to article 20, paragraph 6, Law 4251/2014. The issue of third-country nationals who wish to acquire the Greek Golden Visa through investment activity is regulated by the article 16 of the L. 4251/2014.

  • Energopiisi SA Investment Consulting Services
    February 14, 2019

    Let’s separate the two issues you mention. According to Greek immigration law, every kind of property is eligible for the Golden Visa program: residential, commercial, even a plot, under the condition that the minimum investment amount should be 250,000 euros. For the second issue you mention, in no case does the resident permit for property owners provide access to any type of employment. Employment, according to paragraph 6, article 20, of Law 4251/2014, does not include the exercise of economic activity in the capacity of a shareholder or a chief executive officer for an already existing company.

  • Aggeliki G. Androutsou
    February 14, 2019

    You can buy the whole building. The seller must not pay money to a bank or a third person.