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On January the 12th, the EU Commission proposed a partial suspension of an agreement with the Republic of Vanuatu, which allows Vanuatu citizens via investment to visit the EU without a visa for up to 90 days in each 180-day period. It was stated that this is required to offset the risks posed to the EU and its Member States by Vanuatu's investor citizenship...

Positive new developments for foreign investors regarding the Greek Golden Visa through Financial product investments have been implemented and are in effect.

Henceforward the funds must be "new money", i.e. with a transfer that has been made from abroad from the investor's account dedicated for the purpose of investment. At the...

The digital nomad community has been expanding worldwide, governments have established programs to host more residents. The most well-known types of digital nomads include retired and financially independent people. Greece is introducing its own program through the recently passed Law 4825/2021 (Government Gazette Α’ 157/4.9.2021) permits non-EU citizens who wish to work remotely...

On the 25th of August 2021, at the Hellenic republic's parliament, a new bill was proposed for review, concerning various immigration affairs, including the Greek Golden Visa, (residence permit through investment).

A- Enabling the transfer of funds into Greek banks by non- EU nationals for the purpose of investment...

Purchasing your real estate as an individual in Greece leads to the mandatory payment of a transfer tax. During the purchase stage buyers are required to settle an amount of 3.09% on property value (property transfer tax), should the property have a construction permit before the 1st of January 2006,...

According to the International Monetary Fund, (IMF), the Greek economy witnessed an initial emerge from recession in 2017 – increasing the GDP by 1.5% in that year and by 1.9% per annum in 2018 and 2019. Nevertheless, the Greek economy is thought to have declined by 9% in 2020, mostly due to the global and great impact of the COVID-19 pandemic, in 2020, the Greek economy was...

On Monday, the 28th of June, 2021 a joint press release by the Ministry of Finance and the Ministry of Digital Government announced the launch of the digital platform (Value Map), a platform dedicated to mapping and calculating the objective value for Greek real estate per zone.

The tool is to facilitate allocating the property in question, the zone of the property and...

​Biosecurity measures and travel restrictions are in place to help prevent the spread of COVID-19, affecting the operation of public and private organisations in the European Union and around the world.

Varnavas Law Firm makes every reasonable effort to provide accurate advice.

However, please note that any advice or information on travelling, timeframes, required...

Every Investor in the Greek real estate market, who has concluded a real estate purchase must proceed with a property registration process according to Greek law. At this stage, as a property owner, an investor will be asked to pay a certain amount, as follows:

A) A percentage of approximately 0,475% of the property value (when registering with a Land Registry).

B) A...

The Greek Minister of Tourism, Minister Harry Theocharis stated in the Greek parliament on April 6th, “We will open on May 14, and we will open safely". Greece has operated better than any other country in Europe in its response to the pandemic and to boost the tourism sector, yet maintain the general safety of the population. The government has implemented five lines of...

In a visit to the Libyan capital, on the 6th of April 2021, the Greek Prime Minister, Kyriakos Mitsotakis, met with the Libyan Prime Minister Abdul Hamid Dbeibeh.

The Prime Minister has sealed the reopening of the Greek Embassy in Tripoli and recommenced of Greek-Libyan relations. The Greek Embassy has suspended its mission in the country since 31.07.2014.

Mitsotakis...

A year ago, humanity embarked on an unknown journey. In March 2020, the World Health Organization (WHO) announced the COVID-19 pandemic. Increasingly, we looked inwards for the safety of our loved ones and the stability of our communities.

The toll of the pandemic reached our economies and lifestyles, where the International Monetary Fund (IMF) estimated that the majority of...

The first step of every property transaction in Greece is the submission of the relevant tax declaration before the signing of the contracts. From now on, this process can be concluded totally online.

The online "myProperty" platform for the submission of property transaction documents has already opened and its usage will be mandatory from June 1, 2021.

The process...

Brexit has brought about significant changes to the lives of UK citizens. Possibly the most notable change is that they no longer can enjoy the freedom of movement, which applies to EU citizens, meaning, British citizens cannot live nor work in an EU Member State.

The good news is that in the last years, Greece has been running a fast-track...

The Greek Ministry of Immigration finally adopted, in December 2020, an Opinion issued by the Greek State Legal Council, stating that minors can invest and be considered as the main applicants for the purposes of the Golden Visa Process. Namely, it is now possible for minors to purchase real estate or open a term-deposit bank account in Greece and apply for a Golden Visa as a main...

Today is a big day for the Greek Golden Visa. Following an amendment of the Golden Visa Law, enacted on the 23/12/2020, for the first time an investor can apply for a Golden Visa completely remotely, without having to visit Greece. At the same time, it is possible to receive by courier services the "blue certificate", which is equal to a temporary residence permit.

This...

According to the Ministry of Finance, this year’s notifications for the payment of the Annual Property tax will be available to all property owners through their personal online Tax Platform (TAXISnet) on Friday the 25th of September.

As specified by the Greek Law 4223/2013, anyone, that has...

Following the actor Tom Hanks and his wife, actress and producer Rita Wilson, who received the honorary Greek citizenship last year, another prominent figure in the literary field, received this honorary distinction a few days ago. The British writer Victoria Hislop was officially granted the honorary Greek citizenship directly from the...

Back in the summer of 2013, the Greek Government has officially launched the residence-by-investment program which is broadly known as the Greek Golden Visa. During the first six years of the program’s operation, there was just one investment option available and that was the purchase of property or properties with a minimum...