What is the requirement on the property purchasing contract for the Greek Golden Visa program?

My wife and I purchased an apartment worth 270,000 euros in Greece. Because the money we used is considered community property that we acquired during our marriage, we put both our names in the contract and became joint owners of the apartment. Now we are preparing to apply for the Greek Golden Visa with that property. However, someone told us we needed to take one name off the contract in order to be eligible for the program. Is this true?

Answers

On May 22, 2019 Stilianos Proestakis answered:

Co-ownership is allowed as long as each person invests at least 250,000. You may own a property with one or more people - even if they are not family - and all of you may apply for a Greek residence permit under the above condition. In cases of co-ownership between spouses, the above condition does not exist and one 250,000 property is enough to ensure a Golden Visa for the couple.

On May 22, 2019 Vasiliki Papaloi answered:

No, this is not true. You can apply as a married couple.

On May 22, 2019 Sasha Taktikou answered:

No, this information you have is incorrect. Spouses can purchase property together under both names and be eligible for the Golden Visa. You will have no issues.

On May 22, 2019 Elissavet (Isabelle) Razi answered:

No, it is not true. You can be co-owners as a married couple as long as the total price is at least 250,000 euro. You are both entitled to the Golden Visa.

On May 22, 2019 Mary Tsiganou answered:

No, this information is not true. According the provisions of the law, co-ownership is acceptable under the condition that each co-owner invests at least 250,000 euros. In cases of joint ownership of the real estate property by spouses, the above condition does not have an impact, and with a total amount of 250,000 euros on the contract, the residency right is granted to both spouses.

On May 23, 2019 Penny Konitsioti answered:

Yes, it’s true. One of you should have been the buyer and the other, as husband or wife, would be eligible as well to obtain a Golden Visa together with the purchaser of the property and applicant for that.

On October 01, 2019 Dimitra Mella answered:

No, the information you have is incorrect. More precisely, the case of spouses having purchased together a property which is worth at least 250,000 euros is the only exception to the rule of each co-owner investing at least 250,000 euros in order to be eligible for the Greek Golden Visa. The above exception is directly provided for by the law.

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