Countries
A Brief Overview

Charming Greece occupies a central position between Africa, Asia and Europe. Since ancient times it has contributed greatly to ‘Western’ civilisation, most notably in the fields of philosophy, culture (e.g. drama), politics (democracy), mathematics and science. The country’s rich heritage is reflected in its 18 UNESCO World Heritage Sites, drawing tourists from all over the world.

 

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In 2014 the Greek government introduced friendly regulations for third-country property owners and their immediate family to obtain residence permits. The Program was launched under Law 4251/2014 (as published in the Government Gazette 1, no 80) of the Immigration and Social Integration Code. The permits, which must be renewed every five years, are issued for real estate investments to the value of at least EUR 250 000, plus VAT. The provisions are that the main applicant must be a third-country (that is, not an EEA or Swiss National) national, and must be 18 years or older. Applicants must have a clean criminal record and provide proof of medical cover (including hospitalization) while resident in Greece.

Benefits of Greek Residence
Investment Options
  • Uncomplicated application process; minimal documentation

 

  • EU member state residence offers you freedom of movement within Schengen Area

 

  • Greek residency is obtained typically within 60 days

 

  • It will be easy for your family to obtain residence status

 

  • You will have a wide range of property purchase options

 

  • Mortgaging and subletting of property allowed

 

  • You will have the option to renew residency after a holding period of five years

 

  • Low entry-level investment

 

  • Low government fees

 

  • No residential requirements

To obtain a residence permit, real estate owners in Greece must fulfil the following conditions:

 

  • They must own real estate (of at least EUR 250 000) in Greece of which the title has been transferred to their name

 

  • Joint owners will only be granted a residence permit if they are spouses and ownership is undivided. If these conditions are not met, then each joint owner is required to invest a minimum of EUR 250 000

 

  • If the real estate has been purchased via a legal entity, the applicant must own 100% of the shares

 

  • The above also applies to more than one property to the combined value of at least EUR 250 000 if the applicant is the owner (whether directly or via a legal entity)

 

  • It also applies to a minimum 10-year lease agreement of at least EUR 250 000 for accommodation in a hotel or furnished tourist residence in approved resorts, paid up front

 

  • Another option is buying a plot of land with a construction contract to the combined value of EUR 250 000.The holding period is at least five years
    Owners are allowed to sublet or mortgage their real estate during the residence-permit term.
The Process

The process typically takes less than two months from submission of the application. In some cases it can take as little as two weeks, and in most cases only one physical visit is required.

 

The application comprises the following documentation:

  • Government application form (two copies)
  • Certified copy of passport showing valid entry visa
  • Colour photograph (three copies)
  • Insurance contract covering medical expenses or hospitalization while resident in Greece
  • Payment of government application fee (EUR 500)
  • For families, a family-status certificate from their country of residence stating the relationship between the main applicant and family members
  • Proof of real estate ownership and/or transfer of title and/or notarized copy of lease agreement
  • In the case of property development – copy of purchase contract, construction company contract, building permits (in the name of the main applicant) and building contractor invoices plus proof of payment.

 

The approved agent will submit the application to the Alien and Immigration Department of the Decentralised Authority of the relevant area.

 

Family members (spouse, direct descendants of both spouses who are younger than 21 years and direct relatives of both spouses in the ascending line) may apply either at the same time as the main applicant or after the main applicant has been granted a residence permit. The family members will be granted a family reunification permit for the same period as the residence period of the main applicant.

Investment Summary
OptionMinimum Investment
Real estate investment: purchase/lease/timeshare/development*EUR 250 000
Government application fee (no contribution or due-diligence fee)EUR 500

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