The process for the acquisition of the real property and the residence permit on a step by step basis
- Prior to any other action a due diligence on the legal (ownership status, encumbrances, etc) and technical (compliance with the town planning and building legislation, construction issues, etc.) status of the property in question must be conducted; this step is crucial so as to ensure that no legal or structural problems exist. In order to proceed with the legal and technical due diligence, a set of documents ownership titles, topographical plans, building permit etc is usually provided by seller’s legal counsel; the legal due diligence is conducted in situ at the competent Land Registry or Cadastral Office.
- In case the property’s legal and technical status is in order the next steps include the granting to the purchaser of a tax registration number, the opening by him of a bank account, the preparation of the relevant notarial deed by the notary public, the translation of the draft deed, the payment of transfer tax or VAT, as the case may be etc.
Following the above, the notarial deed for the purchase is necessarily executed before a notary public, either in person or by proxy and is subsequently duly registered with the competent Land Registry (or Cadastral Office).
Language requirement for the documentation – Translation Authorities. The documents that are required for the application for a residence permit must be submitted in Greek, except for the documents issued by foreign authorities, which need to be certified. There are two types of certification:
- The Apostille stamp for countries that are parties to the Hague Convention
- Certification by the Consular, The Apostille stamp: For countries that are parties to the Hague Convention, and for which Greece has not issued a warning, the Public Administration accepts the Apostille stamp which is provided by the relevant foreign authority on the foreign document. Certification by the Consular: For any countries that are not parties to the Hague Convention, a certification by the Greek consular in the country of origin of the document is required.
The translation of foreign public documents can be done either by the Translation Service of the Ministry of Foreign Affairs, or a lawyer, who must be a member of a Greek bar association, with a certification of their signature by the Bar Association.
3) Transfering the total of the purchase amount to its personal account in Greece, including taxes and related expenses.
- During the transfer:
- The purchase contract will be signed before a notary.
- The payment will be performed through a bank check issued at the time of the purchase contract.
- After the transfer:
- The new title deed will be filed at the Land registry authority.
- Related documentation is essential for the residence applications will be correctly submitted.
- A valid health insurance with international coverage for the applicant and all family members will be issued.
The above-mentioned arrangements will be executed by our company on behalf of you, using the relative power of attorney.
Provided everything is done correctly at this stage you will not need to visit again to collect the residence permits.
We will apply -with the use of the power to attorney mandate- for the applicant and all his/her family members (if any). You and your family members will receive the final residence permit valid for 5 years. After 5 years the long term residence permit will be renewed unlimited for as long as they remain owners of the investment.
There is no minimum stay requirement and the residency visa can be renewed after five years providing the investment is maintained.
The original passports are only presented to the Immigration Department upon filing and are not kept by the officers. The same applies for and upon collection of the residence permits.
In view of the above, it could be scheduled for your daughters to come to Greece only when all supporting documents are ready and proceed with filing of the application for the residence permit; alternatively, if such solution is not convenient for you and since we shall file the applications based on relevant authorizations, the girls could enter Greece once before filing and then forward to us their original passports by courier for the filing.
4) With regard to the supporting documents required for the insurance policy, we have already forwarded the relevant birth details to our insurance broker and awaiting feedback from him.
5) The supporting documents for the residence permit are the following:
- Applications. The application forms will be prepared by us.
- Two (2) recent colored photographs (of “passport type”)of each one of the applicants.
- Original passports; as mentioned above the original passports are only showed to the Immigration Department upon filing and not kept there.
- Photocopy of the passports(of all pages), which shall be certified at site by the competent officers.
- Photocopy of your entry visa, which shall be certified at site by the competent officers.
- Public fees amounting to 500.00 € for each one of you (kindly note that children under 18 years old are excluded).
- Copy of your boarding passes from your flight to Athens before the filing.
- Insurance contract or certificate from an insurance companywith coverage:
- for hospitalization, medical and pharmaceutical expenses as well as accidents in Greece for a minimum amount of 10.000 Euros providing for 100% coverage when hospitalized in public hospitals and
- for non-hospitalization medical and pharmaceutical expenses for a minimum amount of 1.000 Euros. Please note that it is expressly required that no discounts or other relating terms are included in the contract. We have contacted our insurance broker and shall inform you accordingly.
- A recent (that is at least two months old) family status certificate issued by the competent Turkish Authority duly translated in Greek and certified with an apostile certification.
- A declarationsigned by you before a police station for the authentication of your signature, stating that your family status has not changed.
- Certified copy of the notarial purchase deed for the real property; the competent Notary Public in Greece shall provide us with such copy.
- A declaration signed by the Notary Public stating that the above purchase deed was executed in accordance with the law.
- Land Registry certificate for the registration of the above purchase deed with the competent Land Registry; we shall arrange for such certificate.
- Authorizations for the filing of the application; we shall prepare such draft authorizations (one for each one of you and a joint for your daughters) and you shall sign them before a Police Department in Greece for the authentication of your signatures.