My company is interested in buying a house in Athens as part of setting up a Greek operation. They intend to have me start the office, initially from this home. I am not the buyer of the house, per se, but how can I set it up to be a Golden Visa recipient through the company’s real estate purchase?
Initially, you have to buy the property for yourself and sign a contract deal with your company. Right afterward, proceed with setting up with the Greek operation on behalf of your company. You could remain the CEO of the Greek operation and be a holder of a Greek Golden Visa.
Following the legal provisions for Golden Visa, let’s see the framework and how it could adjusted to your case. The following conditions must be fulfilled to receive a permanent resident permit for an investor, which shall be renewed every five five years: the real estate property must be owned by and be in possession of its owner, individual one. If the owner has acquired the property through a legal entity, the applicant must own 100% of the company shares. In no case does the resident permit for property owners provide access to any type of employment. Employment, according to paragraph 6, article 20, of Law 4251/2014, does not include the exercise of economic activity in the capacity of a shareholder or a chief executive officer for an already existing company. So an option is to buy the property through your company if you own the 100% of the shares. In such a case the company which will buy the property should be established either in Greece or in EU territory in order the only shareholder to be entitled for Golden Visa program. Alternatively, you buy the property as individual and afterwards you sign an agreement with an already existing company for the operation of the property. Your company will acquire the shares of the existing company or will participate to a capital increase as new shareholder and you will exercise the business activity under the above mentioned roles.
+1-800-347-9390
