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Why are some areas in Greece not eligible for purchasing property under Greece's RBI program?

I learned that many investors who apply for the Golden Visa purchase homes in Athens. But what about other regions? Which ones are good? Also, I heard that properties along the Greek border are not eligible for the program. Why is this?


Answers
  • Papalois & Associates Legal
    September 05, 2018

    Except for some restrictions in the borders of Greece, you can buy in other places, too. A sub capital of Greece, Thessaloniki, is an option. Another good chance for investment is in Greek islands. Athens is preferred because it is the capital, has more chances for rentals and more.

  • Energopiisi SA Investment Consulting Services
    September 05, 2018

    There are restrictions on properties located in border regions, but it does not mean that properties in these areas are not eligible for Greek Golden Visa program. It should be noted that border regions are defined as the prefectures of the Dodecanese, Evros, Thesprotia, Kastoria, Kilkis, Lesvos, Xanthi, Preveza, Rodopi, Samos, Florina, Chios, and the islands of Thera and Skyros. They are also the former regions of Nevrokipi in the former prefecture of Drama, Pagoniou and Konitsas in the prefecture of Ioannina, Almopia and Edessa in the prefecture of Pella, and Sintiki in the prefecture of Serres. Individual or legal entities that are interested in buying properties in these areas should follow an additional procedure before the property acquisition. They could 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 defense following the submission of an application; it should take place before the property purchase contract. Furthermore, to the above there are a lot of areas in Greece that offer good investment opportunities. Most investors prefer to buy in Athens since it is the capital of the country or a lot of properties are for sale.