Golden Visa Application from Türkiye to Greece: Legal Due Diligence, Title Deed and Money Transfer

How to Apply for a Greek Golden Visa from Türkiye?

Investors in Türkiye wishing to apply for a Golden Visa for Greece should not view the process as simply finding and purchasing property in Greece. The Golden Visa application is a multi-stage process comprising property selection, legal review, obtaining a tax identification number, banking and payment procedures, sales contract, title registration, family documents, health insurance, and residence permit application.

For investors, the most important issue is not only that the property is economically attractive, but also that it is legally eligible for a Golden Visa application. Not every property in Greece with a high market value or good location may be eligible for a Golden Visa. The location of the property, investment threshold, size, intended use, title deed status, zoning regulations, and payment method should all be considered together.

Applications from Türkiye also require the proper establishment of document and money flows between the two countries. It is important that power of attorney, marriage certificate, birth certificate, and civil registry records issued in Türkiye are made acceptable to the Greek authorities; that the investment amount is transferred to Greece in accordance with regulations; and that all payments are properly documented.

The Greek Ministry of Migration and Asylum's Golden Visa website states that for real estate investment applications, a valid passport, photograph, health insurance, notarized document, property registration documents, and information regarding the payment method are important. Therefore, the process should be legally planned before the decision to purchase the property is made, not after.

What is legal due diligence?

Legal due diligence is a comprehensive examination of a property intended for purchase in terms of ownership, title, zoning, debt, usage, and contractual risks. In Turkish, this concept can be expressed as "legal due diligence" or "legal review".

The purpose of due diligence is to identify potential problems an investor might encounter after purchasing a property before the transaction is completed. Paying a deposit or signing a sales contract without this due diligence can expose the investor to a difficult and irreversible legal process.

When buying real estate in Greece, at least the following points should be researched:

The following information is considered when evaluating a property: the actual owner of the property, the method of acquisition, title deeds or cadastral records, mortgages and liens, third-party rights, ongoing lawsuits, tax debts, zoning status, building permits, illegal constructions, intended use, condominium ownership, common area issues, and eligibility for the Golden Visa.

Legal review is not limited to simply examining the title deed. The physical condition of the property and the official records must corroborate each other. If an independent unit appears as 90 square meters in the title deed but is actually used as 130 square meters, this may raise the possibility of an unlicensed addition or illegal construction.

Similarly, a property may be marketed as a residential property but be officially registered as an office, warehouse, or commercial space. This situation has different legal consequences compared to the standard Golden Visa investment or the €250,000 change of use category.

Is the Real Estate Agent's Statement Sufficient?

Many properties listed for sale in Greece include the phrase "Eligible for Golden Visa." However, this statement alone does not constitute a legal guarantee.

The role of a real estate agent is to bring buyers and sellers together and facilitate the transaction process. However, definitively determining a property's compliance with Golden Visa regulations requires legal and technical due diligence.

A real estate agent might say the property meets the €400,000 or €800,000 threshold. However, it's also necessary to check whether the property meets the single-unit requirement, how the 120 square meter condition was calculated, its intended use, any mortgages, and the legality of the payment plan.

Particular caution should be exercised with properties marketed under the €250,000 exemption. A promise that a commercial property can be converted into a residential property in the future does not guarantee that the conversion is legally possible and achievable. Investing without examining the zoning plan, building management, engineering requirements, and licensing process carries significant risk.

Therefore, rather than settling for a lawyer recommended by the seller or real estate agent, it would be safer for the investor to work with an independent lawyer representing their own interests.

What is examined during a Land Registry and Cadastre Inspection?

In Greece, the purpose of a property inspection is to determine whether the seller has the right to transfer the property and whether there are any encumbrances that could restrict the investor's ownership rights.

First, the seller's ownership must be verified. The seller may have acquired ownership through inheritance, sale, donation, or another legal transaction. A missing or disputed transaction in the chain of ownership could create a risk for the new buyer.

Secondly, mortgages, liens, precautionary measures, usufruct rights, easements, lease annotations, and third-party rights should be investigated. If there is a bank mortgage on the property, a portion of the sale price may need to be paid directly to the bank, or the mortgage may need to be removed before the transfer of title.

Thirdly, the cadastral information, boundaries, and area of ​​the property should be examined. A technical expert should check whether there are any discrepancies between the title deed, the architectural project, and the actual use.

Fourthly, the ownership structure of the independent unit, whether it is a condominium or joint ownership, should be evaluated. The inclusion of common areas in private use areas, the absence of a parking lot or storage space in the title deed, and terrace usage rights may create disputes in the future.

Fifthly, it should be investigated whether the property was previously used in another Golden Visa application. The official application documents may require a notary to provide information on whether the property was used for a Golden Visa by the previous owner.

Why are Zoning and Technical Inspections Necessary?

A clean title deed record does not automatically mean the property is technically problem-free. In Greece, older buildings may have unlicensed alterations, enclosed balconies, the addition of common areas to individual units, and changes in intended use.

Therefore, a technical inspection should be carried out by an engineer or architect before purchasing. This inspection should compare the building permit, architectural project, energy certificate, intended use, square footage, and actual condition.

If a property only reaches the minimum required area for a Golden Visa application when illegal or unlicensed areas are included, the application may be at risk. The administration evaluates properties based on official and legally valid records, not on the square footage stated in the advertisement or by the real estate agent.

In the €250,000 change of use model, the technical review is even more crucial. According to official Greek administrative records, the change of use in this category must be completed and documented with an engineering technical report prior to the application.

Therefore, the "buy first, then convert to residential" approach is not safe. If it is later discovered that the conversion is not legally and technically possible, the investor may find themselves with a property for which they cannot obtain a Golden Visa.

Should a deposit be paid before purchasing?

In Greece, it is common for the real estate market to request a reservation fee or deposit from investors. Especially in high-demand areas, the seller or real estate agent may demand quick payment to prevent the property from being sold to someone else.

However, paying a large deposit before the legal due diligence is complete carries significant risk. If the property is not eligible for the Golden Visa, has mortgage or title issues, or the seller withdraws from the transaction, it may be difficult to recover the deposit.

If a deposit is to be paid, a written reservation or preliminary agreement must be prepared. This agreement should include at least the following points:

The contract includes detailed information about the property, the total sale price, the deposit amount, the legal and technical inspection period, Golden Visa eligibility requirements, the seller's statements and guarantees, the refund of the deposit if the inspection is unsuccessful, and the parties' rights to withdraw from the contract.

A general clause in the contract stating "The deposit is non-refundable under any circumstances," which is detrimental to the investor, creates a serious risk. Golden Visa eligibility, a clean title deed, and technical compliance should be stipulated as prerequisites for the transaction.

Payment should be made through a bank transfer and with a clear description whenever possible. Cash payments or undocumented transfers make it difficult to prove the deposit and to document the investment amount in the Golden Visa application.

How to obtain a Greek Tax Identification Number?

Foreign investors wishing to purchase real estate in Greece need to obtain a Greek tax identification number. This number is known as AFM in Greece.

The Hellenic Public Revenue Authority states that individuals living abroad must obtain a tax identification number before purchasing real estate in Greece. According to the same official guidelines, the buyer must also submit a real estate transfer tax declaration and pay the relevant tax.

Tax identification number is essential for real estate purchases, tax payments, E9 declarations, ENFIA (Environmental, Financial, and Information Technologies Authority), banking transactions, and access to the myAADE digital tax system.

Even without traveling to Greece, the investor can handle the tax identification number procedures through their representative with a suitable power of attorney. However, the power of attorney must clearly specify the rights granted to represent the investor before the tax authorities, obtain the AFM (Automated Financial Information System), handle access password procedures, and appoint a tax representative when necessary.

Obtaining a tax identification number does not automatically make an investor a Greek tax resident. Tax residency is assessed based on various criteria, such as a person's actual residence and place of residence. However, owning real estate in Greece creates certain tax and reporting obligations.

What is the real estate transfer tax?

In Greece, a real estate transfer tax may be levied on the buyer when purchasing immovable property. According to the official statement of the Hellenic Public Revenue Authority, the buyer is responsible for paying the transfer tax on the sale of immovable property or a real right located in Greece.

The official statement indicates that the general real estate transfer tax rate is 3 percent of the taxable value of the property. An additional burden is also applied to the main tax in favor of municipalities and communities.

However, the same tax regime may not apply to every transaction. New construction, value-added tax regime, first home exemption, purchase through a company, or specific types of real estate may all lead to different outcomes.

It should not be assumed that a foreigner making a Golden Visa investment will automatically benefit from a "first residence" exemption or other benefit. Tax calculations should be performed by an expert before the sales contract is signed.

When determining their total budget, investors should not only consider the minimum Golden Visa investment amount. Transfer tax, notary fees, land registry fees, legal fees, engineering fees, real estate commission fees, insurance fees, and application fees must be calculated separately.

What are the E9 and ENFIA obligations?

Foreign investors purchasing real estate in Greece are required to declare the property acquisition to the tax authorities. This declaration is made via the E9 real estate declaration form.

According to the official statement of the Hellenic Authority for Public Revenue, individuals living outside Greece are also required to submit an E9 declaration if they acquire real estate in Greece or experience changes to their real estate information. The declaration is submitted via the myAADE digital system.

ENFIA is an annual property tax levied on property owners in Greece. The amount of the tax can be determined based on the property's location, value, size, intended use, and other characteristics.

Holding a Golden Visa does not exempt the investor from E9 and ENFIA obligations. Leaving the property vacant or the investor not residing in Greece also does not eliminate property tax obligations.

Therefore, after the purchase is completed, the E9 registration should be checked through a tax advisor or authorized representative, and ENFIA notifications should be followed up. Incorrect area measurements, incorrect usage type, or incomplete registration of independent units may result in over or under tax assessments.

How should money be transferred from Türkiye to Greece?

For a Golden Visa application, it is not enough for the investment cost to simply have been paid; the payment must be made in accordance with regulations and in a verifiable manner.

When transferring money from Türkiye to Greece, it is crucial that the sending account is linked to the investor, that the receiving account belongs to the seller, and that the transfer is accompanied by a detailed description, a sales contract, and a notarized document.

The payment description may be helpful to include information about the property, the contract date, or whether the payment is a deposit, interim payment, or the sale price.

Payments made from another person's account, cash payments, payments with cryptocurrencies, undeclared transfers, or the transfer of funds through multiple intermediary accounts may require explanation in the application.

The Greek Ministry of Migration and Asylum's Golden Visa documents emphasize the importance of a notarized document proving full payment of the purchase price and indicating the payment method. Official administrative records relating to registered real estate and applications for changes of use also include details regarding bank checks, credit transfers, or other legally accepted payment methods.

Therefore, the payment plan must be confirmed with a Greek lawyer, notary, and bank before the investment amount is sent.

Should the money be sent from the investor's own account?

The safest method is for the investment amount to be sent by the Golden Visa applicant from a bank account registered in their own name.

However, if payment is planned to be made from a spouse's, company's, or family member's account, its legal acceptability must be examined beforehand. Documentation may be required to establish the relationship between the applicant and the payer, the source of the funds, and to prove that the payment is made on behalf of the investor.

In a joint investment, it is important that the amount paid by each investor is consistent with their property share and the Golden Visa terms. Mixing up payments among investors can create problems in determining whether each individual meets the minimum investment requirement during the application process.

Furthermore, in Türkiye, making payments from a company account for the purchase of personal real estate may also have consequences under Turkish tax and company law. Issues such as company debt to partners, profit distribution, concealed profits, or accounting entries should be considered separately.

Therefore, it would be beneficial to seek the opinions of both Turkish and Greek financial advisors and lawyers before making any payment.

Can the source of the money be questioned?

In high-value international money transfers, banks and related institutions may inquire about the source of the funds. This is a natural consequence of anti-money laundering measures and know-your-customer obligations.

The investor may be asked to provide bank statements, real estate sales documents, company profit distribution decisions, salary or business income documents, inheritance documents, tax returns, or other source explanations.

Therefore, the investor should prepare the source documents before sending the sale price. Money that has been recently deposited into the account in cash or generated through numerous transfers from third parties may increase bank scrutiny.

Even if the bank transfer in Türkiye is completed, the buyer's bank in Greece may request additional documents. Since this document request can extend the payment period, a realistic payment schedule should be determined in the sales contract.

The explanation regarding the source of the funds must not contradict the investor's tax declarations. Otherwise, there is a risk of further scrutiny by both the bank and the tax authorities.

Exchange Rates and Bank Fees in Foreign Currency Transfers

When calculating the amount required for the Golden Visa, the investor should also consider bank fees and exchange rate differences. The net amount received in the seller's account must fully cover the sale price stated in the contract.

If transfer fees are deducted from the buyer's account, the seller's account may receive an incomplete payment. This can make it difficult to show in the notarized document that the sale price has been paid in full.

Therefore, it must be clearly defined which party will cover the costs in a bank transfer. The SWIFT fee option, correspondent bank charges, and recipient bank fees should be inquired about in advance.

Even a reduction of a few hundred Euros can cause problems in applications where the investment amount is right at the limit. A net payment below the minimum investment threshold may lead to the application being rejected.

Investors should also consider exchange rate fluctuations during conversion from Turkish Lira to Euro and maintain sufficient reserves until the payment date.

How should a power of attorney be prepared?

Investors from Türkiye who want to buy real estate in Greece can conduct a significant portion of the transactions through a power of attorney.

The Greek Ministry of Foreign Affairs' consular information states that power of attorney can be issued for real estate purchases, tax, administrative, and legal procedures; it is advisable to have the power of attorney draft prepared by a lawyer or notary familiar with Greek law.

The following powers can be explicitly assessed in the power of attorney:

Obtaining a Greek tax identification number, appointing a tax representative, banking and payment transactions, reviewing property records, signing down payments and sales contracts, notary procedures, title registration, tax declarations, E9 registration, and Golden Visa application.

However, preparing a power of attorney that is too broad and unrestricted is also risky for the investor. In particular, powers such as changing the sale price, transferring ownership to a third party, obtaining credit, or mortgaging the property should be granted clearly and consciously.

Before signing the power of attorney, the investor should see the Turkish translation and fully understand which transactions can be performed.

Can a power of attorney be issued at a notary public in Türkiye?

The investor may have the power of attorney drawn up before the Greek consulate or through an authorized notary in their country of residence.

In Türkiye, a document notarized may require an apostille and a proper translation to be used in Greece. It is important that the document has the content and format acceptable to the Greek authorities.

For power of attorney documents prepared in front of the Greek consulate, a draft, usually prepared by a Greek lawyer or notary, is submitted to the consulate beforehand. The Greek Ministry of Foreign Affairs' various consular websites state that the power of attorney draft must be prepared in accordance with Greek law and that the individual must be personally present during the process.

Which method is faster and more economical depends on the investor's location, appointment availability, and the scope of the document.

Requiring a second power of attorney due to incomplete authorization can lead to wasted time and expense. Therefore, the draft should be checked by the Greek lawyer and notary who will handle the transactions before signing.

What provisions should be included in a sales contract?

In Greece, a real estate sales contract directly affects an investor's property rights and Golden Visa application.

The contract must clearly state the parties' identification information, a clear description of the property, the sale price, payment method, delivery date, taxes and expenses, existing encumbrances, intended use, and the seller's statements.

Golden Visa investments may also be subject to the following regulations:

The property's compliance with the relevant investment threshold and size requirements, the seller's ownership authority, the property's previous Golden Visa usage, short-term rental history, change of use or restoration obligations, and completion of missing documents are all important considerations.

In the event of false statements by the seller, the investor's rights to withdraw from the contract, receive a refund, and claim compensation for damages must be clearly stated.

Understating the sale price or disclosing the actual payment compared to the contract price poses a serious risk in terms of both taxes and Golden Visa applications.

The Importance of Notarized Documents for Golden Visa Applications

In a Golden Visa application, the notary is not merely someone who verifies the signatures of the parties. The notarized document is one of the essential application documents, as it confirms the value of the property, the payment method, and the transaction's compliance with Golden Visa requirements.

The Greek Ministry of Migration and Asylum's document list states that the notarized document must show the parties' information, the property, the price, and how the payment was made.

Therefore, there must be consistency between the bank statements, the sales contract, and the notarized document. The person making the payment, the amount, the date, and the descriptions should not contradict each other.

Incomplete or incorrect notarized documents may cause delays in the application process and necessitate requests for additional documents. Therefore, the Golden Visa file should be reviewed from the application perspective before the property transfer.

Residence Application After Purchasing Real Estate

After the real estate purchase and payment processes are completed, the Golden Visa residence application is prepared. The application file generally includes a passport, photograph, health insurance, investment and title deeds, notarized document, fee receipts, and documents relating to family members.

According to official Greek administrative records, Golden Visa applications can be processed electronically, involving document verification, biometrics, and administrative evaluation stages.

If applications are being submitted for the spouse, children, and eligible parents along with the main investor, documents proving family ties must be prepared with apostilles and translations.

Submitting an application does not guarantee the granting of a residence permit. The administration may assess the validity of the investment, the method of payment, the suitability of the property, and the applicant's compliance with public order regulations.

Documents to be brought from Türkiye

The documents required from Türkiye vary depending on the applicant and their family structure.

Typically, documents such as passports, complete population registration records, marriage certificates, birth certificates, divorce and custody decisions, name change documents, and, if necessary, criminal records may be required.

The name, surname, date of birth, and parents' information on the documents must match the passport information. Turkish characters and surname changes after marriage should be checked especially carefully.

The documents must be apostilled and translated in a format accepted in Greece. The Greek Ministry of Foreign Affairs states that this process can be completed through a platform of certified translators within the official translation system.

Document preparation should not be postponed until after real estate transactions. Delays can create risks, especially for children approaching the age of 21 and family members whose passports are about to expire.

How many times should an investor visit Greece?

Thanks to a power of attorney, property research, tax identification numbers, contracts, and certain stages of the application process can be carried out through a representative.

However, the investor may need to travel to Greece to view the property, complete banking or notary procedures, and especially for biometrics.

Promises that the entire process can be completed without ever visiting Greece should be viewed with caution. The fact that the application can be made electronically does not mean that biometric data will be collected remotely.

When planning a trip, the applicant's valid visa or entry rights, biometric appointment, and the attendance of family members should be considered.

Tax and Declaration Aspects in Türkiye

If an investor who is fully liable for tax in Türkiye acquires real estate in Greece, this may also have consequences under Turkish tax law.

If rental income is obtained from real estate, it should be examined whether this income needs to be declared in Türkiye, the possibility of offsetting the tax paid in Greece, and the provisions for avoiding double taxation.

If the property is sold in the future, capital gains tax or taxes paid in foreign countries may become relevant.

If the money is sent from a company account, the legal basis for the transaction as recorded in the company's records must also be explained.

Therefore, focusing solely on tax obligations in Greece is insufficient. The implications of the investment under Turkish financial and tax legislation must also be planned from the outset.

Common Mistakes

The most common mistake in Golden Visa applications from Türkiye to Greece is paying a deposit before the legal review is completed.

The second mistake is relying solely on the real estate agent's statement that "you are eligible for the Golden Visa.".

The third mistake is that the advertised square footage of the property differs from its official square footage.

The fourth error is that the seller receives less than the full amount due to bank charges being deducted from the payment.

The fifth mistake is sending money without explanation or from a third-party account.

The sixth mistake is that the power of attorney is either inadequately or overly broadly drafted.

The seventh error is a discrepancy between the sale price and the notary and bank documents.

The eighth mistake is the failure to follow E9 and ENFIA obligations.

The ninth mistake is making unrealistic investment calculations based on short-term rental income.

The tenth mistake is failing to evaluate Turkish and Greek tax results together.

Step-by-Step Roadmap for Applying from Türkiye

The first step is defining the investment objective. The investor should clarify whether their goal is residency, long-term rental, personal use, or citizenship.

The second step is budget planning. In addition to the minimum investment amount, taxes, notary fees, land registry fees, commission fees, lawyer fees, engineer fees, and application costs must be calculated.

The third step involves obtaining a tax identification number and a power of attorney.

The fourth step is a legal and technical due diligence examination of the property.

The fifth step is the booking or deposit agreement, which includes protective terms and conditions.

The sixth step is planning the source of the funds and bank transfer.

The seventh step is the sales contract, notarization, and land registry registration.

The eighth step is the registration of E9 and real estate tax records.

The ninth step is submitting the Golden Visa application file electronically.

The tenth step involves tracking biometrics, card printing, and subsequent renewal obligations.

Why is legal support important?

A Golden Visa investment from Türkiye to Greece is a high-value transaction that combines legal, tax, and banking processes in both countries.

The lawyer examines the property's title deeds and cadastral records, mortgages and liens, contracts, payment methods, notarized documents, and Golden Visa eligibility.

They also prepare the power of attorney draft on behalf of the investor, check the suitability of the documents to be obtained from Türkiye, and coordinate the application file.

Independent legal representation is particularly important where the interests of the seller or real estate agent diverge from those of the investor.

Professional legal assistance doesn't guarantee an investment will be economically profitable. However, it helps mitigate preventable risks related to title deeds, contracts, payments, and residency permits.

Conclusion

Applying for a Greek Golden Visa from Türkiye is not simply about buying a house in a foreign country. The process requires managing the legal security of the investment, proof of money transfer, tax records, and residence permit requirements all together.

Investors should conduct comprehensive legal and technical due diligence before purchasing real estate. Title deeds, mortgages, liens, zoning regulations, permits, intended use, square footage, and Golden Visa eligibility should all be checked.

Foreign nationals purchasing real estate in Greece must obtain a tax identification number, pay the real estate transfer tax, and follow up on E9 and ENFIA obligations after the purchase.

The investment amount to be sent from Türkiye must be transferred via bank transfer, clearly stating the applicant's investment. The bank statement, sales contract, and notarized document must be consistent with each other.

The power of attorney must be prepared in accordance with Greek law; the powers relating to taxes, property deeds, contracts, and residency procedures must be clearly defined.

The safest approach is to conduct an independent legal review before paying a deposit and to plan the Golden Visa application during the property purchase phase. A properly managed process will protect both the investor's assets in Greece and the desired residency status for themselves and their family.