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What are restrictions on the location of properties for Greek Golden Visas?

Some real estate agents told me that properties near Greece’s borders are ineligible for Golden Visas. Is this the case? Why? Are there areas I should avoid?


Answers
  • Energopiisi SA Investment Consulting Services
    April 09, 2020

    There are restrictions on properties located in border regions, but could be arranged under an additional process which has to be concluded before the related property acquisition. Individual or legal entities, which are affected by the restrictions above, can request the lifting of the ban for the border regions, along with their application, which should clearly state the intended use for the property. The decision to lift the ban is made by the Minister of Defence, following the submission of an application and must be issued before the related property acquisition contract.

  • Penny Konitsioti
    April 08, 2020

    All regions for purchase are legitimate apart from regions near to borders.

  • Stilianos Ch. Proestakis
    April 07, 2020

    An applicant who is interested in acquiring real estate located in a border area has to submit his/her application to the competent prefecture of the place where the real estate is located attaching the ownership title of the property at the issue, as well as a detailed description of the real estate at the sale. Furthermore, besides the exact cause of the acquisition, the application must also include detailed information concerning the identity of the prospective buyer. Such requirements are usually met by submitting certificates issued by the competent authorities of the applicant's home state with personal information, for instance, the applicant's criminal record. Non-EU nationals have to submit their application to the Greek Ministry of Defence in Athens. In addition to the documents mentioned above for Greeks and EU nationals, the Ministry of Defence further requests a topographical diagram of the real estate and a topographical diagram of the real estate located on the winder area. It is usually possible at the Ministry of Defence, it may take approximately three to six months and is also free of charge. Since the application for a permit is accompanied by multiple certificates, and since the process is in itself extremely complex, it is advisable that foreign investors in real estate should consult a lawyer prior to submitting the application, in order to speed up the process or rather to entrust a lawyer with the handling of the whole procedure.

  • VV Legal
    April 06, 2020

    Truly there are some restrictions on the locations of properties that you can buy in Greece. These restrictions are general for any foreigner who wants to buy a property in these locations of Greece and it is not relevant to the Greek Golden visa law. First of all, there are some restrictions based on the citizenship of the foreigner, e.g the Turkish citizens are forbidden to buy a property near Greece's borders or in specific islands like Chios. Also, there are some other restrictions on the locations where a foreigner shall apply for a specific license in order to buy a property there. An example for this case is Santorini island, where a foreigner shall apply to the relevant competent authority for a license. However, the restrictions on the locations of Greece are limited and foreigner investors have the free choice to buy any properties they like in so many beautiful places of Greece, in the heart of Greece-Athens, or in the countryside and the islands.

  • Papalois & Associates Legal
    April 07, 2020

    That's right. You cannot buy easily properties there. A foreigner needs a special permit by the government in order to buy in these areas. For instance, Islands like Santorini, Rhodes/ Kastelorizo and generally areas that are near the borders.

  • Foutsis & Partners Law Firm
    April 07, 2020

    No restrictions. The areas across the Greek border with Turkey need just a special permit from the ministry to buy.