Best Residence by Investment Lawyers in Fira

About Residence by Investment Law in Fira, Greece

Residence by Investment, often referred to as the "Golden Visa," is a legal framework in Greece that allows non-EU nationals and their families to obtain a renewable five-year residence permit by making a qualifying real estate investment. In Fira, the picturesque capital of Santorini, this law presents a unique opportunity for international investors seeking to enjoy the lifestyle and benefits of living in Greece’s Cycladic Islands. The program attracts individuals looking for mobility within the Schengen Area, access to quality of life, and the potential for long-term settlement.

Why You May Need a Lawyer

While the Residence by Investment program is designed to be accessible, navigating its requirements can be complex. Legal assistance is often necessary to ensure compliance with local and national laws, secure legitimate property transactions, and avoid common pitfalls. Individuals may require a lawyer if they:

• Are unfamiliar with local property law and due diligence processes in Fira
• Need assistance with the residency application or renewal process
• Encounter complications regarding property title, ownership disputes, or regulatory compliance
• Require guidance about inheritance implications and tax obligations
• Want to include family members in the application
• Face language barriers involving official documents and contracts
• Plan to convert their residence permit to permanent residency or citizenship in the future

Local Laws Overview

The legal environment for Residence by Investment in Fira aligns with the broader Greek Golden Visa legislation but entails specific local considerations:

• Minimum Investment: As of 2024, real estate investment in Fira and Santorini falls under high-demand areas, requiring a minimum expenditure of 500,000 euros for eligibility.
• Property Types: Eligible properties include residential, commercial, or a portfolio of properties meeting the minimum investment threshold.
• Ownership Structure: The property must be purchased outright by the individual or through a wholly owned legal entity.
• Residency Rights: The primary investor, their spouse, dependent children under 21, and sometimes dependent parents may be included.
• Renewal and Maintenance: The residence permit is issued for five years and is renewable as long as the property is retained.
• Citizenship: The program itself does not grant citizenship, but continuous legal residence may lead to eligibility for Greek citizenship under certain conditions.
• Taxes and Fees: Buyers must pay transfer tax, VAT where applicable, notary and registration fees, and recurring local municipal taxes.
• Legal Due Diligence: Verification of property title, zoning, and freedom from encumbrances is essential, often requiring local legal expertise.

Frequently Asked Questions

What is the minimum property investment needed for Residence by Investment in Fira?

Currently, an investment of at least 500,000 euros in real estate is required in Fira and most of Santorini to qualify for the Golden Visa.

Can I include my family members in my Golden Visa application?

Yes, your spouse, children under 21 years old, and in some cases, dependent parents can be included in the same application.

Does the residence permit allow me to travel within the EU?

The Greek Golden Visa grants visa-free travel within the Schengen Area but does not confer EU residency rights outside Greece.

Is it necessary to live in Greece to maintain the permit?

No, there is no minimum stay requirement. You can maintain your permit as long as you hold the qualifying property.

Can I rent out my property in Fira while holding a Golden Visa?

Yes, you are allowed to lease your property for residential or commercial purposes and earn rental income.

How long does the entire process take?

From property purchase to issuance of the residence permit, the process usually takes between two to six months, depending on the property's legal status and application completeness.

What are the ongoing costs and taxes?

Ongoing costs include annual municipal property taxes, maintenance fees, and potentially rental income tax if you lease your property.

What documents are needed to apply?

Applicants typically need a valid passport, proof of investment, property purchase contracts, government forms, health insurance, and clean criminal record certificates.

Can I apply for Greek citizenship after obtaining a Golden Visa?

Golden Visa holders can apply for permanent residence or citizenship after residing in Greece for a specific period and meeting integration requirements, though citizenship is not guaranteed by the visa alone.

Is legal advice required for Residence by Investment in Fira?

Legal advice is strongly recommended for property due diligence, contract certifications, and ensuring full compliance with all legal obligations.

Additional Resources

Those seeking further information or legal support in Fira can consult the following resources:

• Greek Ministry of Migration and Asylum - Immigration policy and guidance
• Hellenic Land Registry (Ktimatologio) - Property registration and title search services
• Local Bar Association in the Cyclades or Santorini - Accredited legal professionals
• Greek Notary Association - Certified notaries for property transactions
• Municipal Authority of Santorini - Local property regulations and taxes

Next Steps

If you are considering Residence by Investment in Fira, follow these steps:

1. Assess your eligibility and investment objectives with respect to the Golden Visa requirements.
2. Consult with a qualified local lawyer who specializes in real estate and immigration law in Fira.
3. Conduct thorough due diligence on potential properties, using legal and notarial services to verify ownership and zoning.
4. Prepare all necessary documentation, ensuring accuracy and compliance before submission.
5. Proceed with the property purchase and begin your residence permit application with legal support.
6. If uncertain at any stage, seek tailored legal advice to address your circumstances and protect your interests.

Legal expertise is key to a smooth, secure, and compliant experience throughout the Residence by Investment process in Fira, Greece.