Papakostopoulos Law Team, is an international full-service Law Team, providing highest quality services to our clients since 1965. We specialize in the areas of Real Estate and Property Law, Business and Corporate Law, Inheritance Law, Family Law, Competition Law, Immigration Law, Permanent Residence (Golden Visa) Law, Tourism and Hotel Legal Representation, Criminal Law, Car Accidents and Personal Injury Law, Banking Law, as well as other matters that matters to you. We have a network of associates (Public Notaries, Accountants, Civil Engineers, Investment Advisors) in major Greek Territory cities as well as abroad.
We have a client centered approach.
Our objective is to achieve our clients’ goals and make their lives easier.
We are Proud
To provide the best legal services and value to our clients' solutions in an efficient, and professional manner.
To ensure that our clients are updated and understand each stage, of every case from beginning to end.
We believe that not all disputes should end up in Court, and we advise for alternative solutions, but where litigation is unavoidable, we fight for our Clients rights.
We have new ideas and solutions; and advise our clients to surely fulfill their goals.
Founded in 1965
200 people in their team
Kinds of divorces
a) “Consensus”.
The spouses agree to be divorced by consensus and all the marriage matters are solved, agreed and signed in an agreement before our Law Team. Then the Court affirms this agreement.
b) Divorce due to two years divergence
The spouses are living their lives separately for at least two or more years. In that case each one has the right to apply for a divorce in the Court. In that case Court does not examine who is responsible for breaking the stability of the marriage. For the judgment it is examined, if the time of two years has passed. Both spouses has the right to apply for the division of marital assets. Our Law Firm will advise our clients and demand the best for them.
c) Divorce due to dispute.
Without regarding the time the couple is in divergence, one can procced with nullity applying for divorce and for solving all the marriage issues by the Court. If this is the case we are the experts for achieving your goals. Be aware that you don’t want us against you.
Property Division
Property is classified as marital or non-marital and then marital assets are divided. Key factors that are involved in determining how marital assets are to be divided including: the contribution each spouse made to the marriage, the duration of the marriage, the economic situation of each spouse and the desire to maintain stability for the marriage and family. Our Law Firm advice you and fights for you, on achieving all your needs and most of your wants.
We are always negotiate hard, before we solve our clients’ marriage issues on the Court.
Child Custody and Visitation
In Case of Consensus Divorce, Child Custody and Visitation is solved by our Law Team. In other kind of Divorce action Court is determining the child custody and visitation arrangement. The court will look to the best interests of the child in making such a determination. Our Law Firm believes that Children come first. Nothing is more important than preserving the relationship between parent and child. Therefore we work with our clients to find the best solution for the whole family.
Child Support
One of the most difficult issues of a divorce action is the child support. Calculated based on the child “needs” and the income of the parties and their expenses. This calculation can be difficult. Our Law Team will work with you to ensure the most important thing. That the needs of the child are being met.
Maintenance
May be awarded if one spouse lacks sufficient property and income to meet his/her reasonable needs. Many factors go into a maintenance determination including duration of the marriage, age of the parties, the standard of living established during the marriage, and the time needed for a spouse to get the skills necessary to find employment.
After Divorce
Our Law team advise with our clients after the divorce process to help them with their new life. Whether you need employment, a financial plan, a modified Will, or information about Investments, our Law Team ensures you will move forward.
Prenuptial Agreements
Even the Greek Law provides for this option, most of Greek couples are denying this procedure. However, many of the above determinations can be handled in advance or during the marriage with a document called a Prenuptial Agreement. Such an agreement allows individuals to clearly define how property will be handled, in particular situations, such as a divorce. Our Law Team will draft for you the document to ensure enforceability. Then the document will be notarized and registered to the special state book and in case of divorce will bw submitted to the competent Court.
Papakostopoulos Law Team is a leading Real Estate/Property service Law Team practicing in the areas related with all issues of Real Estate such as, Property Transactions/Conveyances, both lands and buildings, and Investments, Commercial/Industrial/Residential property litigation, Abalienations, Construction issues, including litigation and negotiation of various construction contracts, Commercial/Industrial/Residential Leasing, for both Landlords and Tenants, Foreclosure Proceedings, Corporate Formation, including negotiations of both Shareholder / Partnership Agreements, Representation of Building Boards.
We have been involving in more than Ten Thousand (10.000) transactions. Our Law Team as well consist of the Public Notaries Offices of Zoi and Elisabeth Papakostopoulou.
We are one stop Law Firm for Real Estate/Property services and we go more than that. We help our Clients to find their dream property, (land, villas, apartments) for their own use, or we advise them on how to invest in Real Estate. Our Law team is closely linked with other specialist departments such as Developers, Real Estate Brokers, Civil Engineers, Construction Companies, Accountants and other Financial Advisors on every matter, related to Real Estate/Property issues.
The entire firm is dedicated to educating our clients on every step and to ensure they are informed and understand each stage, from beginning to end.
The Greek Inheritance Law is regulated by the Greek Civil Code.
A deceased person can decide what will become of his property by leaving a will, which can be entirely handwritten by him/her personally, or executed before a public notary under the presence of three witnesses or The law provides also for a third kind of will, called a secret will, where the testator hands the will to the notary public, and the latter is obliged to seal and keep it until the testator’s demise.
Before deciding to prepare a will, the testator should contact a lawyer, in order to be adviced of the provisions of the Greek Law.
The public notary or any person who has access to a deceased person’s handwritten will, is obliged to notify the Court about the existence of the will and submit it in original. The Greek Probate Court is obliged to make it public, so that every person having an interest in its contents can have access to it.
If the deceased has not left a will of any kind, or the will is void for any reason or settles only a part of its property, this person is considered to be in intestacy, and its succession is regulated by provisions of the law. The legal heirs are organized by the law in 6 categories, called “classes”.
| 1. | Husband/wife and children | |
| 2. | Husband/wife, parents and brothers/sisters | |
| 3. | Husband/wife, grandparents, their children and grandchildren | |
| 4. | Husband/wife and great-grandparents | |
| 5. | Husband/wife | |
| 6. | The State |
If the deceased did not have a spouse or another relative of the previous classes at the time of death, then the property goes to the Greek State.
It is worth mentioning that in case a will does not leave a share in the property to either the spouse, the children or the parents of the decedent, then these relatives have a right by law to claim a minimum share in the inheritance, which equals half of the inheritance share in case of intestacy. If the deceased had made any donation to each of the above heirs while living, the right to a minimum share can be lost, if the donation cover their minimum share.
Greek Inheritance Law provides to the heir a deadline of 4 monhts period, starting from the knowledge of the passing of the decised, to declare if he/she accepts the legacy. This deadline is 1 year, if either the decedent had his domicile abroad, or the heir has its domicile abroad . It is thus very important to renounce the inheritance within the above mentioned deadline, since the heir could bear significant risks, if the inheritance contained debts or other obligations of the deceased person.
PURCHASE A PROPERTY IN GREECE AND GET VISA FOR ENTIRE FAMILY, FOR ALL THE SCHENGEN COUNTRIES
• Purchase a property in the Greek State worth at least €250.000, plus expenses. Provide purchase contract proving full payment of the amount by public notary.
• Apply for type-C (vacation) or type D entry Visa
• Visit Greece once.
• Apply for the Golden Visa.
The government of Greece introduced a procedure to obtain residence permits, which can be renewed every five (5) years, for owners of real estate by third-country citizens, the value of which exceeds €250.000, adopting a friendlier stance towards those who wish to own real estate property in Greece. Here, we provide information on the preconditions, the process and the supporting documentation required to obtain these residence permits. It also addressed important questions regarding this new type of residence permit for owners of real estate property.
Residence permits in Greece.
A residence permit is any documentation issued by the Greek authorities, according to which a third country citizen is given the right to reside legally within Greek territory, in accordance with the provisions of the European Union (Regulation 1030/02 as applicable). Different categories of residence permits exist, as well as different types of permit within each category. Employment rights depend on the type of permit issued. Applications for the granting and renewal of residence permits are submitted directly to the municipality or the relevant authority of the Aliens and Immigration of the Decentralised Authority in the applicant’s place of residence, apart from certain specific types of residence permits for which applications are submitted to the Department for Migration Policy at the Ministry of the Interior.
Residence permits for real estate owners and who they apply to.
A residence permit for real estate owners is a new type of residence permit, for third country citizens who have entered the country legally on any kind of visa (type D or C) or are legal residents in the country, even if the residence permit they hold does not allow for change of residence scope. Beneficiaries of the right of entry and the permanent residence permit, which shall be renewed every five (5) years, are:
a) third country citizens who own real estate property in Greece, either personally or through a legal entity of which they own the total of the company shares, provided the minimum value of the property is €250.000;
b) third country citizens who have signed a timeshare agreement (lease) – 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;
c) third country citizens who either reside legally, with a residence permit, in Greece, or wish to enter and reside in the country, and who have full ownership and possession of real estate property in Greece, which they have purchased before the enactment of law 4146/2013, provided that they had purchased the real estate property for a minimum of €250,000 or the current objective value of their real estate property is at a minimum of €250,000;
d) third country citizens who fully and legally own real estate property in Greece, the minimum value of which is €250,000, and which they acquired through a donation or parental concession. The right to a residence permit in this case can only be exercised by the receiver of the donation or parental concession.
e) third country citizens who purchase a plot of land or acreage and proceed to erecting a building, provided that the cumulative value of the land purchase and the contract with the construction company is at minimum €250,000.
f) third country citizens who have signed a ten-year 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.
g) family members of the third country citizens such as:
1. Spouses
2. The direct descendants of the spouses, who are under the age of 21.
3. The direct relatives of the spouses in the ascending line.
Preconditions for a residence permit for real estate owners in Greece.
The following conditions must be fulfilled to receive a permanent residence permit, which shall be renewed every five (5) years:
a) The real estate property must be owned by and be in possession of its owners.
b) In cases of joint ownership, where the value of the property is €250.000, the residence permit is only granted if the owners are spouses with undivided ownership of the property. In all other cases of joint ownership, the residence permit is only granted if the amount invested by each of the joint owners is at least €250.000.
c) If the owner has acquired the property through a legal entity, the applicant must own 100% of the company shares.
d) The residence permit is also granted in cases where the third country citizen is the owner, either directly or through a legal entity, of more than one real estate property with a combined value of at least €250.000.
e) In cases where the applicant wants to enter the country with a type D visa, the documented intention to own property should be supported by documentation which prove the financial capacity (e.g., certificate of an A-class certified bank, or other recognised financial institution), which certify the existence of bank accounts or other mobile assets, such as bonds or shares, which can cover the cost of the investment of at least €250.000, and which certify the intention of the applicant to purchase the property, such as a contract with our Law Team.
f) In the case of third country citizens who have signed a lease of at least 10 years for hotel accommodations or furnished tourist residences in integrated tourist resorts, provided the minimum value of the lease is €250.000, the contract must require a single payment of the lease for the equivalent of the ten year leasing of the property. In all cases outlined above, the value of the real estate property will be determined based on the value of the property, or the lease, indicated in the contract of purchase. The value of the property, according to law 4251/2014, is the amount stated explicitly on the contract which has been submitted for the purchase of the real estate property. The objective, or assessed, value of the property is not relevant, unless it corresponds to the amount which was, according to the contract, paid for the sale of the property.
Entry Visa requirement to obtain a residence permit for real estate owners.
An entry Visa, that is, legal entry in the country, is necessary to obtain a residence permit for owners of real estate property. Following the issuance of a residence permit, and for its duration, there is no need for a Visa. Pursuant to Law 4251/2014, any third country citizen who has entered the country legally holding a visa of any type or is a legal resident of the country irrespective of their status or type of residence permit, has the right to apply for a residence permit.
Duration of the residence permit for real estate owners.
This residence permit is permanent. The holder of the residence permit is however required to renew it every five (5) years.
Renewal of residence permits for owners of real estate - Preconditions.
The residence permit shall be renewed every five (5) years. To renew the residence permit, the following conditions must be met:
a) The real estate property must remain in the full ownership of the applicant.
b)The relevant leases/contracts must be ongoing.
Absences from the country do not impede the renewal of the residence permit. The resale of the real estate property, during the period when the residence permit is valid, to another third country citizen provides to the new owner the right to a residence permit along with a simultaneous revocation of the seller’s residence permit.
The process for the issuing of a residence permit for real estate property owners.
Step 1: Issuing an entry Visa for Greek Territory
The interested party must submit an application for an entry visa to the Greek consulate authority in their country of origin.
Step 2: Collecting the documentation for the issuing of the residence permit
Applicants for a residence permit for real estate owners, valued at €250.000, must provide the following documents:
a) Two copies of the application document;
b) Two recent colour photos;
c) Certified copy of a valid passport or travel documents recognised by Greece and with the relevant valid entry visa, where required;
d) A fee paid and obtained through the “e-paravolo” platform according to provisions of Law 4251/2014 article 132, which amounts to €500 for residence permits of up to a five year duration.
Depending on the specific case, the following documentation may need to be submitted in addition to the above:
1. Residence permits for third country citizens who own and posses, either wholly or jointly, property in Greece
A contract of purchase stating that “the contract of sell and purchase of the property is not subject to conditions or exemptions, the total price amounts to (price) which has been paid in full with a crossed bank cheque or bank transaction” and a proof of transfer of the contract by the competent Land Registry.
Certification by an insurance agency for the cost of hospitalisation and medical care.
To certify that this condition is fulfilled, the following are accepted:
- Insurance contracts which have been signed outside Greece, provided that they explicitly mention that they cover the interested party for the duration of their stay in Greece.
- Insurance contracts which have been signed in Greece.
2. Residence permits for third country citizens who own property in Greece through a legal entity, where the applicant owns all shares
A contract of purchase stating that “the contract of sell and purchase of the property is not subject to conditions or exemptions, the total price amounts to (price) which hasbeen paid in full with a crossed bank cheque or by deposit of a bank transfer to the beneficiary’s account held with a bank in Greece or a credit institution under the supervision of the Bank of Greece, the specific details of which shall be solemnly declared by the parties before the notary who draws up the contract and written in it” and a proof of transcription of the contract by the competent Land Registry.
Certification by an insurance agency for the cost of hospitalisation and medical care.
To certify that this condition is fulfilled, the following are accepted:
- Insurance contracts which have been signed outside Greece, provided that they explicitly mention that they cover the interested party for the duration of their stay in Greece.
- Insurance contracts which have been signed in Greece.
3. Residence permits for third country citizens who have a lease – for a minimum of 10 years – for hotel accommodations or furnished tourist residences in integrated tourist resorts
Notarised 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 licence by GNTO (Greek National Tourism Organisation)
Proof of title transfer from the land registry where the relevant lease contract has been transferred
Certification by an insurance agency for the cost of hospitalization and medical care
4. Residence permits for third country citizens who have purchased real estate property in Greece before Law 4146/2013 came into effect:
If the payment submitted before Law 4146/2013 came into effect is smaller than two hundred and fifty thousand euro (250,000) but the current objective (assessed) value of the real estate property exceeds or is equal to this amount, a certification by a notary must be included in the documents that are submitted, stating: “From the verification of the contract with number .for the purchase of real estate property, it can be concluded that the full payment of the cost of the real estate property has been completed, it no longer has any conditions, exemptions or deadlines, and the objective (assessed) value of the real estate property as it stands today is equivalent to the amount of …..”.
In this case it is also necessary to submit the contract of purchase for the real estate property or properties, the value of which is at minimum €250,000, and a proof of title transfer from the land registry where the relevant contract has been transferred.
5. Residence permits for third country citizens who purchase plots of land or acreage and erect a building.
The following additional documents must be submitted:
i. contract for the purchase of the plot of land or acreage, and
ii. contract with the construction company for the erection/restoration of the residence, which has been submitted to the tax office according to the law
iii. building permit in the name of the applicant
iv. invoices by the contractors and the corresponding proofs of payment.
6. Residence permits for third country citizens who have a timesharing lease of at least ten year duration, for hotel accommodations or tourist furnished accommodations in integrated tourist resorts.
The following additional documents must be submitted:
i. contract for the timeshare of at least ten years duration, which states the exact amount to be paid every year.
ii. Proof of title transfer from the competent land registry
iii. certification by the Greek National Tourism Organisation that they have been informed of the establishment of this timeshare lease.
7. Residence permits for family members of the third country citizen
Certification by an insurance agency for the cost of hospitalisation and medical care. To certify that this condition is fulfilled, the following are accepted:
- Insurance contracts which have been signed outside Greece, provided that they explicitly mention that they cover the interested party for the duration of their stay in Greece.
- Insurance contracts which have been signed in Greece.
Recent family status certificate from foreign authorities which certifies the family relationship
Step 3: Submitting the documents
Applications for the residence permits must be submitted to the one-stop service of the Alien and Immigration Department at the Decentralised Authority where the property of the interested party is located.
Step 4: Procedures until the final issuing of the permit
Upon arrival
A third country citizen who intends –and has the necessary supporting documentation– to own real estate property or to lease hotel accommodations or furnished tourist residences and has entered the country legally, is required to complete the required actions to apply for the residence permit before the expiry of the entry visa. In this case, the prospective applicant is able to undertake legal acts and transactions with the competent authorities, using their entry visa.
Application process
The submission of the application for the issuance of the residence permit, the submission of additional documentation, the receipt of the residence permit or of a rejection, or any additional documentation from the relevant file, can be done either in person by the third country citizen, or through our Law Team with a Power of Attorney (POA). Third country citizens who have never entered Greece are not allowed to submit an application for a residence
Permit via a POA. The applicant is allowed to enter the country, to assign their representation to our Law Team, either with a proof of authenticity of their signature issued by any public authority or with a notarized power of attorney (POA), and then depart from the country and not be present during the submission of the application for a residence permit and/or the granting of the relevant permit.
Consequently, it is possible to submit the application via proxy, under the condition that the person submitting the application also submits either an original passport of the third country citizen or a copy or a true copy of the passport certified by our Law Team.
It is possible, in the same way, to receive the certification that the application has been submitted, as well as the residence permit. The relevant provision will be valid until the establishment of an independent document which will replace the unified type of residence permit. For the submission of the independent document, the presence of the third country citizen will be necessary, because of the requirement to obtain biometric data.
The documentation outlined in the previous steps should be attached and submitted with the application.
Documentation check
The authorities receiving the application will issue a confirmation that the application has been submitted, provided that all the necessary documentation has been submitted with the application. This confirmation is valid for one year and it constitutes an evidencing document until the residence permit is issued.
Application processing timeframe
The owner of the real estate property is not affected by the duration of the processing of their application, from the moment the application is submitted to the relevant authorities until the issuing of a decision by the Secretary General of the Decentralised Authority regarding their residence permit. After the application has been submitted, the applicant receives a receipt confirming the submission of the application, which is valid for one year. The time required to process the application depends on the authority where it has been submitted yet it may not exceed two months after all the necessary documents have reached the competent authority.
Provisions during the application processing period
The third country citizen, who has submitted through our Law Team an application and received the confirmation receipt described above, can reside legally in the country for the duration of the confirmation receipt (one year). The holder of the confirmation receipt is entitled to the benefits of the residence permit that they have applied for. Hence, they can proceed with any legal transaction regarding their investment and can transact with all the relevant authorities.
Issuing of the decision
Once the authority of Aliens and Immigration of the Decentralised Authority has verified that the application fulfils all necessary conditions and, in accordance with the decision of the Secretary General of the Decentralised Administration, they will issue a five-year residence permit.
Procedure for residence permits for family members.
According the information above, third country citizens can be accompanied by their family members, who will be granted the appropriate entry Visa. Members are:
a. Spouses.
b. The direct descendants of the spouses, who are under the age of 21.
c. The direct relatives of the spouses in the ascending line.
Family members have the option of entering the country at a later date from the applicant, from whom they draw their residence rights.
These family members are issued with a residence permit of the same duration as the applicant, but this permit does not include access to employment.
The children of the applicant, who have been originally admitted to the country under the terms and requirements of residence permit for property owners, are issued with a residence permit for family reunification until the age of 21. After that, it is possible to acquire a renewal as an independent residence permit until they reach the age of 24 and then it is possible to renew it further according to pertinent immigration legislation.
Documents and certificates for the renewal of residence permits.
The renewal of the residence permit requires different documents, including:
In all cases:
A filled-in application
Two recent colour photos
A true copy of a valid passport or travel documents recognised by Greece.
A certified copy of the previous residence permit, only in cases where the permit is not attached to the passport that is submitted
Certification by an insurance agency for the cost of hospitalization and medical care. To certify that this condition is fulfilled, the following are accepted:
- Insurance contracts which have been signed outside Greece, provided that they explicitly mention that they cover the interested party for the duration of their stay in Greece.
- Insurance contracts which have been signed in Greece.
Additionally, and depending on the case, the following documents are required to renew a residence permit, provided that real estate property with a value of €250.000 has been purchased:
1. Renewal of residence permits for third country citizens who own and posses, either
wholly or jointly, property in Greece
- the property remains under the possession and ownership of the interested party, or
- the lease in question is still in force.
2. Renewal of residence permits for third country citizens who own property in Greece through a legal entity, where the applicant owns 100% of the shares
- the property remains under the possession and ownership of the interested party, or
- the lease in question is still in force.
3. Renewal of residence permits for third country citizens who have a lease – for a minimum of 10 years – for hotel accommodations or furnished tourist residences in integrated tourist resorts
- the property remains under the possession and ownership of the interested party, or
- the lease in question is still in force.
4. Renewal of residence permits for family members, according to article 20, case B, paragraph 4 of Law 4251/2014, of the third country citizen
Certification by an insurance agency for the cost of hospitalization and medical care
Declaration by the sponsor that the family circumstances have not changed
Copy of the birth certificate for a child born in Greece.
Language requirement for the documentation – Translation Authorities.
The documents that are required for the application for a residence permit must be submitted in Greek, except for the documents issued by foreign authorities, which need to be certified. There are two types of certification:
a. The Apostille stamp for countries that are parties to the Hague Convention
b. Certification by the Consular
The Apostille stamp: For countries that are parties to the Hague Convention, and for which Greece has not issued a warning, the Public Administration accepts the Apostille stamp which is provided by the relevant foreign authority on the foreign document.
Certification by the Consular: For any countries that are not parties to the Hague Convention, a certification by the Greek consular in the country of origin of the document is required.
The translation of foreign public documents can be done:
a. By the Translation Service of the Ministry of Foreign Affairs, or
b. Our Law Team, (We are a member of a Greek bar association, with a certification of our signature by the Bar Association).
Cost associated with the application process for the residence permit for owners of real estate, is subject to be agreed
