My parents plan to gift me some money to support my Greek Golden Visa application. They got the money by selling an apartment in our home country under their names. However, they cannot provide any documents about how they got the money to purchase the apartment 20 years ago. How strict are the rules of the Golden Visa program when it comes to the source of funds?
Please be aware that no particular documentation is needed for the purchase of the property in relation to Golden Visa. You will need to open a bank account in Greece and then transfer the needed funds from your bank account abroad to the Greek one so as later to pay the purchase value.
All you need is the original bank statements, payment stubs or a letter on official letterhead with original signatures from financial institutions that confirm you have a liquid income/deposit in the bank ready to transfer in Greece for obtaining the Greek Golden Visa.
Among the necessary steps for the implementation of the procedure of property acquisition and the resident permit application is to open a bank account in your name in a Greek bank. In your account the amount of purchase and the related expenses should be transferred from your bank account abroad. The banks have the right to ask for the legal origin or source of funds, which could be proven by documentation which proves the applicant’s capacity (e.g., certificate by a class-A recognized bank, an official financial institution or other recognized institutions to store bonds, properties’ sale contracts) and certify the existence of bank accounts or other transferable securities, as above. So, in your case, there is no problem, since your parents will support you on the acquisition issue through money from a sale of their own. In all cases, be aware that the price of the real estate acquisition is paid via a crossed bank check or through a banking transaction from your Greek bank account.
I believe that it will be sufficient to provide documentation evidencing the funds come from the sale of the property. Per my experience, the banks will not go so far as to request proof of funds for 20 years back.
Please be informed that one of the prerequisites in order to support your Golden Visa application is the opening of a Greek bank account, in which you will transfer the necessary amounts from your bank account in your home country and then use these funds for the real estate property purchase in Greece. It is possible, albeit not very probable, that the Greek bank asks you to provide evidence regarding the source of your funds (i.e., in your case, documents related to the sale of your parent’s apartment).
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