Is a time share agreement eligible for the Greek Golden Visa?

I have heard about time shares being used for the visa program. Is this true? What are the requirements? How long do I have to maintain the time share, and how does one judge its value in relation to the Golden Visa minimum investment amount?

Answers

On September 23, 2018 Mary Tsiganou answered:

According to Greek immigration law, beneficiaries of the right of entry and the permanent resident permit, which shall be renewed every five years, are also third-country citizens who have signed a timeshare agreement (lease), for a minimum of 10 years, for hotel accommodations or furnished tourist residences in integrated tourist resorts, provided the minimum cost of the lease is 250,000 euros. In such a case, the contract must require a single payment of the lease for the equivalent of the 10-year leasing of the property and the value that is taken into consideration for Golden Visa application is the the amount stated explicitly on the contract which has signed for the related lease and is submitted to the relevant application.

On September 24, 2018 Vasiliki Papaloi answered:

No, this isn't true. According to the Greek law, to get the Golden Visa, you have to purchase a property of 250,000 euros.

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