Today, Tuesday, the debate on the changes to the Golden Visa resumes in the Plenary.
The discussion and passing of the draft law of the Ministry of National Economy and Finance for the “Incorporation of Directive (EU) 2022/2523 of the Council, of December 15, 2022, on ensuring a global minimum level of taxation of multinational business groups and domestic groups large scale in the European Union (Pillar II) and other customs and tax provisions” was suspended on March 26 after the filing of the Motion of No Confidence filed by SYRIZA, PASOK-KINAL, New Left and Pleussi Eleftherias.
The Golden Visa amendment
In the bill, at the same time, the ministerial amendment has been submitted for the conditions for granting the Golden Visa with the aim of increasing the supply of housing for long-term leases and addressing the impact on housing costs, while maintaining the incentives for the introduction of investment funds into the country and development of the real estate market.
According to the provisions of the amendment for the granting of a 5-year residence permit to citizens of third countries (Golden Visa), the following conditions are established:
In Thessaloniki, Mykonos and Santorini
In the Region of Attica, the Regional Units of Thessaloniki, Mykonos and Santorini and on the islands with a population of over 3,100 inhabitants, the value of the real estate that the interested party must own increases to 800,000 euros.
In the rest of the country, the value of real estate is 400,000 euros. In any case, the investment must be made in one property (not in several properties of lesser value) with an area of at least 120 sq.m. It is allowed to purchase a percentage of a property in undivided co-ownership, the minimum value of which is respectively 800,000 and 400,000 euros.
Conversion of real estate use
For buildings that have a different use and are converted into residences, the minimum amount of investment is 250,000 euros.
The conversion of use must be completed prior to submitting the request for the granting the residence permit. The limit is also set at 250,000 euros if it is an investment in a listed building that is to be restored.
Residence permits
Residence permits can be renewed for the same period of time (five years) as long as the real estate remains in the ownership of the investor. If it is an investment in a preserved building, an additional condition for renewing the residence permit is that the restoration of the building has been completed. If the investor sells the property then his residence permit is revoked and the buyer becomes entitled to obtain a residence permit. Investors can rent out the buildings they acquire, but they are not allowed to be made available through short-term leases, while in cases of conversion to a residence, their use as a company headquarters or branch is also prohibited.
In case of violation, the residence permit is revoked and a fine of 50,000 euros is imposed. In addition to the purchase of real estate, citizens of third countries also obtain a residence permit by concluding a long-term complex tourist accommodation contract or a tourist accommodation timeshare contract, corresponding to the value per region (800,000 euros in Attica, etc., 400,000 euros in the rest of the country, etc. .).
The provisions for ENFIA, income tax, business tax
Transitional periods of application with conditions have been provided for in the amendment. Also, with other provisions of the amendment it is foreseen: the permanence of the exemption from the Pretense Fee for regular status farmers and fishermen with boats up to 12 meters. The payment of income tax for the incomes of 2023, to be paid this year, in 8 monthly installments. The exemption from LIGHT of 2024 of property owners in the areas of Crete affected by the earthquakes of July 24 and September 27, 2021.
The amendment of the PASoK
An addendum to the bill has been submitted by PaSoK, with which, among other things, it requests to increase the threshold for obtaining a distribution license to 800,000 euros and to prohibit the leasing of properties acquired for short-term lease.
With information from APE-MPE
#Golden #Visa #promoted #amendment #Parliament
