Following the legislative changes introduced by Article 64 par. 1 of Law 5100/2024, the provision of Article 100 par. 2 case c of Law 5038/2023 provides for the possibility of obtaining a permanent investor residence permit (Golden Visa) with a minimum investment amount of €250,000 in real estate, provided that a lawful change of use of the property to residential has been carried out.
This category includes properties such as:
professional premises and offices
retail stores
Key Requirements
The change of use must be carried out in accordance with urban planning regulations and the provisions of the building’s internal regulations, and must be reflected in the property’s legally approved plans.
The change of use is certified by a technical report prepared by an engineer.
The condition for completing the change of use following the entry into force of Article 64 of Law 5100/2024 is certified by the date of issuance of the relevant document required in each case, such as, indicatively, a building permit, approval of small-scale construction works, update to the file or a revision of the building permit. This requirement is also met in cases where the change-of-use permit was issued prior to the publication of the law but is updated or revised for any reason after its publication, i.e. from 05.04.2024 onwards.
The change of use may be carried out either by the seller or the buyer and must be completed prior to the submission of the application for the investor’s permanent residence permit (Golden Visa).
The minimum investment amount of €250,000 does not include the cost of the change of use or renovation works.
Initial Granting of a Permanent Investor Residence Permit
The required supporting documents for granting the permanent investor residence permit include, among others, the following:
Any valid entry visa, or proof of entry under a visa exemption regime, or a valid residence permit issued by the Greek authorities, or proof of entry exemption as a holder of a residence permit from another Schengen member state.
An insurance policy issued by a private insurance provider.
A certificate from the notary public who drafted the transfer deeds, confirming all legally required information.
Proof of registration from the competent Land Registry or registration of the deed to the competent Cadastral Office where the purchase contract has been recorded, or a certificate from a lawyer.
Technical report by an engineer regarding the change of use of the main areas of the property to residential.
Copy of the investor’s real estate declaration form (E9).
Renewal of the Permanent Investor Residence Permit
For the renewal of the residence permit, the investor must declare that:
the property remains under their ownership
the property has not been leased short-term or subleased within the sharing economy framework, in accordance with Article 111 of Law 4446/2016
the use of the main areas of the property remains “residential”
the property is not used as a registered office or branch of a business
If you are interested in investing in real estate and obtaining a Golden Visa residence permit, you can contact our office by telephone at +30 210 3319753 or by email at info@georgallis-law.com. Our law office and associates, with their expertise and experience in Golden Visa residence permit matters, will guide you step by step and assist you in completing the relevant procedure promptly, securely and effectively.
Following the legislative changes introduced by Article 64 par. 1 of Law 5100/2024, the provision of Article 100 par. 2 case c of Law 5038/2023 provides for the possibility of obtaining a permanent investor residence permit (Golden Visa) with a minimum investment amount of €250,000 in real estate, provided that a lawful change of use of the property to residential has been carried out.
This category includes properties such as:
Key Requirements
Initial Granting of a Permanent Investor Residence Permit
The required supporting documents for granting the permanent investor residence permit include, among others, the following:
Renewal of the Permanent Investor Residence Permit
For the renewal of the residence permit, the investor must declare that:
For further information regarding the permanent investor residence permit related to real estate investment in the context of change of use to residential, you may also read our article here: https://www.georgallis-law.com/en/blog/golden-visa-eu250000-investment-t...
If you are interested in investing in real estate and obtaining a Golden Visa residence permit, you can contact our office by telephone at +30 210 3319753 or by email at info@georgallis-law.com. Our law office and associates, with their expertise and experience in Golden Visa residence permit matters, will guide you step by step and assist you in completing the relevant procedure promptly, securely and effectively.