A permanent residence permit (Golden Visa Program) can now be granted to a third country citizen who acquires property in Greece following an auction. This was decided on the 13th-10-2020 by the Legal State Council of Greece

Following a successful auction of a property located in Greece and the payment by the bidder (third country citizen) of the total auction of a minimum value of 250,000 Euros to the auctioneer, it is possible to grant the bidder a permanent residence permit of an investor, according to the provisions of article 20 par.b, L.4251/2014, as in force, under the inviolable conditions that:

1) The payment of the auction to the auctioneer has been made in one of the ways, as restrictively referred to the provisions of article 20 par. B, subpar. 2, L. 4251/2014;

2) The summary of the auction report has been registered in the relevant transfer books; and

3) The auction has not been reversed in one of the legal ways provided by law.

If you are interested to know more about the Golden Visa Program please visit  Law Office Stathaki

Source: NSK