Ask A Question  | Learn more about Greece

What requirements does a tourist accommodation need to meet to qualify for the Greek Golden Visa program?

I want to apply for a Greek Golden Visa with a long-term lease of a tourist accommodation. Do all tourist accommodations qualify for this program? Does the facility need to be accredited by the National Tourism Organization and other authorities?


Answers
  • Energopiisi SA Investment Consulting Services
    September 06, 2019

    Beneficiaries for Greek Golden visa program are, among other categories, the following: third-country citizens who have signed a lease agreement – for a minimum of 10 years – for hotel accommodations or furnished tourist residences in integrated tourist resorts according to article 8, paragraph 2 of Law 4002/2011 (Government Gazette 180 A'), provided the minimum cost of the lease is 250,000. The documentation needed to be submitted among others are: notarized copy of the lease for the hotel accommodations or furnished tourist residences in integrated tourist resorts, which demonstrates a single payment of 250,000 and includes a mention of the granting of the relevant operation license by GNTO (Greek National Tourism Organization); proof of title transfer from the land registry where the relevant lease contract has been transferred; third-country citizens who have signed a timeshare agreement (lease), based on the provisions of Law 1652/1986. A time share lease, according to the provisions of article 1 of law 1652/1986 is the commitment of the lessor to grant, each year, to the lessee, for the duration of the timeshare, the use of the tourist accommodation and to provide to them the relevant services for the determined period of time according to the contract, and the lessee must pay the agreed rent. Timeshare is agreed for a period of one to 60 years. Tourist accommodation for the implementation of this law refers to hotel units and generally tourist facilities operating under the permission of the Hellenic Tourism Organization (EOT) and have been subject to the provisions of the law by decision of the Secretary General of E.O.T. Documentation needed to be submitted: timeshare contract for a minimum period of five years which should state the corresponding price per year; proof of transfer registration issued by the competent land registry; a certificate issued by the National Tourism Organization (EOT) that it has been informed of the conclusion of the particular timeshare contract.

  • Stilianos Ch. Proestakis
    September 06, 2019

    The said person has entered into a timeshare agreement or a lease for hotel accommodations or furnished touristic residences in a combined tourist facility in Greece. Their duration must be of at least 10 years and their amount not less than 250,000. The applicant must pay the amount of the lease upfront, upon the execution of the relevant agreement. The facility need to be accredited by the National Tourism Organization and other authorities according to relevant laws.