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What are some common payment issues in the Greek Golden Visa program that are causing problems or denials?

I have heard about POS being an issue for program participants, but are there others? What advice do you have regarding money transfers that can help ensure success?


Answers
  • Aggeliki G. Androutsou
    January 29, 2019

    Α bank account will have to be opened in Greece and the money will be transferred from a Chinese bank. Otherwise, it is bank transfer from the buyer's bank to the vendor's bank. These are the ways set by the law for the Golden Visa.

  • Right Target Estate
    January 29, 2019

    Payment should be done either by transfer from your bank account outside of Greece in the seller's bank account in Greece or by bank checks from your bank account in Greece (which will have priorly been credited from your bank account outside Greece) endorsed to the seller. No POS payment is accepted. This is essential for the Golden Visa to be granted.

  • Papalois & Associates Legal
    January 29, 2019

    You need to transfer the property price directly from your own Greek or overseas bank account to the seller's Greek bank account by bank transfer or a specific bank check.

  • Energopiisi SA Investment Consulting Services
    February 01, 2019

    The main issue with Golden visa issuance is referred to accepted payment ways, according to the law. Following a circular issued by the ministry of migration policy 23388/24/07/2018, it was clarified that in order to be entitled to the Golden Visa resident permit, the acceptable payment methods of the purchase price according to the Article 20 Law 4251/2014 are only two. First, the funds must enter through a bank transfer from your bank account outside Greece either to your Greek bank account and following by bank transfer to the seller’s Greek bank account. Second, the funds must be paid through the issue of crossed bank checks on the seller’s name. On the contrary, the payment of acquisition price through POS (credit, prepaid or debit cards) is not an acceptable form of payment. A law 4587/2018 has also recently been voted that explicitly states that only the above mentioned two payment methods of a purchase price are accepted in the framework of the Golden Visa.