Are undeveloped plots, such as islands, eligible for Golden Visas?

I am hearing about undeveloped land for sale in Greece, which seems like a dream to own. But would it grant my family Golden Visas? Do we have to buy land then develop it for resident permits?

Answers

On January 23, 2019 Elissavet (Isabelle) Razi answered:

It does not matter what you buy. As long as the price is 250,000 euros, you are entitled to a Golden Visa. And yes, it can be land, of course. Actually, land can even cost less than 250,000, and if you develop it, keep invoices and the total project is 250,000, you are also entitled to a Golden Visa.

On January 23, 2019 Vasiliki Papaloi answered:

No, you can buy even unbuilt properties and plots.

On January 23, 2019 Apostolos Parthenis answered:

Owning any property in Greece at a value of at least 250,000 euros is enough for you to apply for the Golden Visa.

On January 23, 2019 Mary Tsiganou answered:

Beneficiaries of the right of a permanent resident permit for real estate owners, which shall be renewed every five years, are also third-country citizens who purchase a plot of land or acreage and proceed to erect a building, provided that the cumulative value of the land purchase and the contract with the construction company is at a minimum of 250,000 euros. Their family members are also entitled to residency. According to the Greek program, there is no restrictions to the kind of property you have to buy. If the acquisition price of the property is 250,000 euros, you are entitled to a Golden Visa. It could be only a plot and in case that the piece of land costs less than 250,000 euros, you should proceed to development.

On January 24, 2019 Aggeliki G Androutsou answered:

With any real estate investment above 250,000 euros, you are entitled to a resident permit.

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