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 investor.
Previously, this matter was debated, and it was not allowed to submit such applications, setting the 18th year as the minimum age to apply as the main investor.
Therefore, before this change, the parents of a minor only had the option of buying the property in their name, and then applying for their child as a dependent family member, provided it was under 21 years old. However, their kid could retain his golden visa up to the age of 21 years old and then get one last 3-year extension up to the age of 24 years old. After that age, their kid should proceed with his own investment or apply for a residence permit based on other reasons (for example, as a student in Greece etc.)
Under the new regime, a minor may personally be the owner of a property or the beneficiary of a term-deposit bank account in Greece. Their parents can still apply as family members, but now they do not have to worry about what they will do when their kid turns 24 years old. This change gives more options to potential investors allowing them to personalize their investment structure according to their family needs. As an extra benefit, the right to a Golden Visa is also extended to their kid's future spouse, children and parents-in-law.
Last but not least, this new option ensures that the Golden Visa, and the family’s bond with Greece, can be maintained for generations.