Pursuant to Article 100 par. 1 (d) of Law 5038/2023, a third-country national may obtain a Permanent Investor Residence Permit (Golden Visa) by entering into a timeshare lease agreement for hotel accommodation, with a minimum duration of five (5) years.
Conditions:
The minimum lease amount under the timeshare lease agreement shall equal to the sums specified in Article 100 par. 2 of Law 5038/2023. Specifically, for the Region of Attica, the Regional Unit of Thessaloniki of the Region of Central Macedonia, the Regional Units of Mykonos and Thira of the Region of South Aegean, and for islands with a population exceeding three thousand one hundred (3,100) inhabitants, the minimum lease amount is set at €800,000. For all other regions of the country, the minimum lease amount is set at €400,000.
The duration of the timeshare lease agreement must be at least five (5) years.
The total lease amount agreed in the timeshare lease agreement for the entire duration thereof must be paid in full prior to the submission of the application for the grant of the permanent investor residence permit.
The timeshare lease agreement must be executed by notarial deed, which shall be duly registered to the competent Land Registry or Cadastre Office. The notarial deed must expressly state that an operating licence has been granted by the Hellenic Tourism Organisation.
Duration and Renewal of the residence permit – Rights and Obligations
The residence permit is initially granted for a period of five (5) years and may be renewed for an equal period each time, provided that the timeshare lease agreement for the hotel accommodation remains in force.
The investor’s family members are entitled to be granted residence permit that expire simultaneously with that of the investor. Family members include: a) the spouse or civil partner, b) common unmarried children under the age of twenty-one (21), c) unmarried children of the investor or his/her spouse or partner who are under the age of 21 and for whom they have custody and d) the parents of the spouses or partners.
No right of access to any form of employment is granted.
There is no obligation to reside in Greece. Therefore, absence from the country does not affect the renewal of the residence permit.
If you are interested in obtaining a Golden Visa residence permit by entering into a timeshare lease agreement for hotel accommodation, you can contact our office by telephone at +30 210 3319753 or by email at info@georgallis-law.com.
Pursuant to Article 100 par. 1 (d) of Law 5038/2023, a third-country national may obtain a Permanent Investor Residence Permit (Golden Visa) by entering into a timeshare lease agreement for hotel accommodation, with a minimum duration of five (5) years.
Conditions:
Duration and Renewal of the residence permit – Rights and Obligations
If you are interested in obtaining a Golden Visa residence permit by entering into a timeshare lease agreement for hotel accommodation, you can contact our office by telephone at +30 210 3319753 or by email at info@georgallis-law.com.