Best Residence by Investment Lawyers in Glyfada

About Residence by Investment Law in Glyfada, Greece

Residence by Investment, also known as the "Golden Visa" program, allows non-European Union (EU) nationals to obtain a residence permit in Greece by investing in real estate or making other approved financial contributions. Glyfada, a prestigious suburb of Athens, is a popular destination for investors due to its high-quality lifestyle, coastal location, and close proximity to Athens’ city center. Greek law offers residency permits to those who invest a minimum amount in real estate, making this an attractive pathway for individuals and families seeking to live, work, and travel freely within the Schengen Area. The law sets specific requirements for eligibility, documentation, and renewal of permits, which makes legal guidance critical for a smooth application process.

Why You May Need a Lawyer

The process of obtaining residence by investment in Glyfada can be complex and requires careful navigation of Greek legal and bureaucratic requirements. Some common situations where legal help is needed include:

- Interpreting eligibility requirements for initial investment - Drafting and reviewing real estate purchase agreements - Conducting due diligence on property ownership and legal encumbrances - Preparing and submitting all required documents to Greek immigration authorities - Handling appeals if your application is delayed or denied - Advising on renewal terms and changes in personal circumstances (such as marriage or birth of children) - Tax structuring and compliance for new residents - Coordinating multigenerational or group family applications - Navigating any post-Brexit complexities for UK nationals - Dealing with language barriers and legal translations

A lawyer can serve as your representative throughout the entire process, helping you avoid common pitfalls and ensuring your investment and residency rights are protected.

Local Laws Overview

Greece’s Residence by Investment law, as set out in Law 4251/2014 and subsequent amendments, offers residence permits to individuals and families who invest at least 250,000 euros in real estate in Greece. As of 2024, this minimum investment in parts of Glyfada may increase to 500,000 euros, depending on the exact area, following government updates targeting certain high-demand neighborhoods. The main points to consider are:

- The investment must be made in eligible property categories, such as residential or commercial real estate. - The permit covers both the investor and eligible family members (spouse, children under 21, and sometimes parents). - There is no minimum stay requirement in Greece to maintain the permit. - The residence permit is valid for five years and is renewable as long as the investment is maintained. - Permit holders can travel visa-free throughout the Schengen Area. - Residency does not automatically lead to Greek citizenship, but long-term residency can be used as a step toward it, subject to further requirements. - All transactions must comply with Anti-Money Laundering regulations and source of funds verification. - The property may be rented out, providing an additional benefit to investors.

It is important to verify current local thresholds and requirements, as they may change by region and year.

Frequently Asked Questions

What is the minimum investment required for a residence permit in Glyfada?

Currently, the required minimum investment for most properties is 250,000 euros, but in some areas of Glyfada, it may have increased to 500,000 euros due to local regulatory updates.

Who can be included in my application?

The principal investor, their spouse or registered partner, children under 21, and the parents of either spouse may be included in the application for a single permit.

Can I buy more than one property to meet the investment criteria?

Yes, you can combine multiple properties as long as the total value meets or exceeds the minimum investment threshold.

Am I required to live in Greece after obtaining the residence permit?

No, there is no requirement to reside in Greece. The permit remains valid as long as the investment is maintained.

Does the permit allow me to work in Greece?

While you may own and operate businesses or work as a self-employed individual, the standard Golden Visa residence permit does not grant access to employment as a salaried employee in Greece.

How long does the application process take?

The process usually takes one to three months from the time the full application and supporting documents are submitted.

May I rent out my investment property?

Yes, you can lease or rent out your property in Glyfada to generate income.

Can I sell my property and retain the permit?

If you sell or transfer your investment property, you lose eligibility for the residence permit unless you reinvest in another eligible property.

Will my permit allow me to travel in Europe?

Yes, your Greek residence permit allows for visa-free travel within the Schengen Area for up to 90 days within any 180-day period in each country.

Is it possible to apply for Greek citizenship through the Golden Visa program?

The Golden Visa does not directly grant citizenship, but long-term residents may apply for naturalization if they meet additional criteria, including knowledge of the Greek language and integration into Greek society.

Additional Resources

For further information and assistance regarding residence by investment in Glyfada, the following resources may be helpful:

- The Greek Ministry of Migration and Asylum: The primary government body for all residence and visa issues. - Greek Real Estate Registry (Ktimatologio): For verifying property ownership and conducting due diligence. - The Embassy or Consulate of Greece in your home country: For pre-arrival questions and document authentication. - Greek law firms specializing in immigration and real estate. - Local notaries public, who oversee property transfers. - The Hellenic Association of Realtors: For reputable real estate agents. - Regional offices of the Decentralized Administration of Attica: For submitting residence permit applications.

Next Steps

If you are considering residence by investment in Glyfada, Greece, here is what you should do next:

1. Assess your eligibility and investment readiness. 2. Consult with a qualified local lawyer experienced in Greek residence by investment law to guide you through the process. 3. Conduct due diligence on available properties and the legitimacy of all parties involved. 4. Prepare all required documentation, including proof of funds, passport copies, and family records. 5. Submit your application through the appropriate government channels, typically with your lawyer’s assistance. 6. Await processing and respond promptly to any requests for additional information. 7. Once approved, complete the property transaction, obtain your permit, and enjoy the benefits of residence in Greece.

For the best possible outcome, professional legal support is recommended at every step to ensure compliance with the law and protect your interests.