Golden Visa law does not restrict the investors to manage the real-estate property in any way the prefer. It is up to the discretion of the Golden Visa holder to define the management of the real estate property. The applicants have the option either to move in the purchased real estate property or to utilize it for generating income with the limitation of selling the property, which consists ground for revocation of the residence permit.
In virtue of Art. 20B par. 3 “The capacity of leasing the real estate properties is granted to third country nationals owners of the latter.” Investors are able to lease their properties immediately, in contrast with other European Countries where a certain time period elapsing between the grant of the Golden Visa and the feasibility of leasing is stipulated.
Furthermore, it should be underlined that short – term lease agreements demonstrate a rapid growth in Greece, thus offering to investors a great opportunity for lucrative business activity.
Kindly note that Greek Law lays down the prohibition of encumbering the real estate property with any kind of legal burdens i.e. mortgages, prenotice of mortgage etc. The encumbrance of the real estate property consists reason for revocation. As deriving of the above, investors cannot use the above property as guarantee for financing purposes.
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