Golden Visa Greece: cutoff expanded to 800.000€
New guidelines are presented by the Service of Money, pointed toward expanding the stockpile of lodging for long haul rents and tending to the effect of the Golden Visa Greece on lodging costs.
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New Settings for Golden Visa Greece
In the Region of Attica, the Regional Units of Thessaloniki, Mykonos and Santorini and on the islands with a population of over 3,100 inhabitants, the worth of the real estate properties that the closely involved individual should have increments to 800,000 euros. In the remainder of the country, the worth of land is 400,000 euros. Anyway, the speculation should be made in one property, (not in that frame of mind of lesser worth) of no less than 120 sq.m. The investment must be made in only one property. It is permitted to buy a percentage of undivided co-ownership of a property, the minimum value of which is respectively 800,000 and 400,000 euros.
Change of use of properties for Golden Visa Greece
For structures that as of now have an alternate use and are changed over into homes, the base speculation sum is set at 250,000 euros. The transformation of purpose should be finished before the application for the home grant is submitted.
The limit is likewise set at €250,000 if it is an investment in a preserved building that is to be restored.
More details for Golden Visa Greece
Home licenses can be renewed for a similar timeframe (five years) as long as the land stays the property of the financial backer. In the event that it is an investment in a preserved building, an extra condition for renewing the residence permit is that the restoration of the structure has been finished. If the investor sells the property then his residence permit is revoked and the buyer becomes entitled to get a residence permit.
Fine of 50.000 euros
Investors can lease the properties they acquire, yet they are not allowed to be made available through short-term leases. In cases of conversion to a residence, their use as a company headquarters or branch is also prohibited. In the event of infringement, the home license is denied and a fine of 50,000 euros is forced.
Alternatively, instead of the acquisition of properties, citizens of third countries are capable of get a residence permit, by concluding a long-term complex tourist accommodation contract or a tourist accommodation timeshare contract, of comparable worthvalue per region (800,000 euros in Attica, etc., 400,000 euros in the rest of the country, etcof comparable worth per region (800,000 euros in Attica, and so on, 400,000 euros in the remainder of the nation, and so on.
In these cases, if the purchase of the property is not completed, the buyers can complete their investment in another property always under the conditions that applied until this time, but, in any case not after April 30, 2025.
ALMA Real Estate Hellas monitors real estate proposals. Click on the link to see our Golden Visa properties
Source: ot.gr
