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A recent amendment to the Law governing Residency by Investment in Real Estate (Art. 20 paragraph B, Law 4251/2014) has been made with the enactment of Law 4546/2018. According to Article 38 paragraph 8 of Law 4546/2018, with effect from September 12th 2018, in regards to applications for residence permit for owners of real estate property, the State Fee will be increased from 500 EUR per adult to 2000 EUR for the investor and 150 EUR for adult family members. This government fee will be borne by both new applicants or applicants who renew for another 5 years. Please be reminded that the residence permit must be renewed every 5 years. Persons under the age of 18 will not be required to pay the above State Fee as there is no State Fee for minors. Applications for residence permit made prior to the 12th of September will bear the lower fee of 500 EUR per adult applicant. The investment threshold of 250.000 EUR still remains unaffected making Greece the lowest cost country for Residency by Investment in Real Estate in Europe.
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Valmas Associates are committed to providing clients with regular updates on legislative and industry changes in the form of opinions, publications and newsletters.
You can subscribe on our newsletters through our Contact page. About the Author |
Ioannis Valmas LLB LLM MSc BSc is Managing Partner at Valmas Associates and a Greek trial attorney and legal advisor that has represented – almost exclusively – since 2008, overseas clients (from government bodies to private individuals) for their administrative, business and personal legal matters in Greece gaining a stellar reputation abroad. He has lived abroad for almost a decade and earned several degrees from UK Universities. He has attended seminars at US Universities (Harvard and Stanford Law Schools). He has been a member of the Athens Bar Association for over a decade. He is appointed before the Court of Appeals and licensed to practice law throughout the territory of the Hellenic Republic, Greece. His writings on Greek Real Estate Law, Aviation Law and Shipping have been widely published in recent years by publishers in Greece and abroad.
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