Greece
Permanent Residency
In comparison with other European countries, Greece is giving the ability to have a temporary permanent residence for a long time in exchange for a comparatively with minimum investment. Moreover, applicants aren’t limited to just one investment program, which gives you a great possibility to increase the liquidity of investments.
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Greece Permanent Residency
A new law on the stay of foreigners in Greece (4251/2014) will give the opportunity to third countries investors a new way to get a 5-year permanent residence in Greece by investing in real estate, with the minimum amount of 250,000 euro.
The benefits of permanent residency in Greece for investment in real estate:
Applicants aren’t limited to just stay in Greece, they will have the right to spend an unlimited amount of time in Schengen countries.
The investor’s spouse, children under 21, and parents can receive a permanent residency as the main investor.
No requirement to spend a minimum time in the country. Once every 5 years, you need to visit Greece for one day.
The residence permit is granted between 30-60 days.
You will have the opportunity to use high-quality medical services, and your children can educate in schools and universities.
By purchasing a property you can rent it out and receive additional income.
Ways to receiving a residency in Greece:
Residency for dependents
Residency for top managers of a company.
Residency for strategically investments.
Residency for entrepreneurs.
OR
Investment in real estate with a value of at least €250,000.
Greece Investment Potential
Possible ways to get the several pieces of real estate, which will be calculated as the total value
The estimated value can be higher than the market price
You can rent out the property that you have bought to gain additional income
Investment program at real estate in Greece, is for 5 years with the possibility to renew your permit every 5 years.
Entry visa due to real estate acquisition
Type of entry visa is required in order to purchase real property
and request a residence permit in Greece:
Type C Schengen visa
its holder may stay in Greece and the other Schengen countries for up to 90 days per six-month period. This period start on the day of the first entry in the Schengen area. If the visa is valid for one entry and the citizen of a third country wishes to enter Greece again, he/she should request a new visa.
Conditions:
The general conditions for a type C visa are applied.
Type D national visa.
there is a special provision for real estate property owners or perspective buyers. Its duration is up to 365 days. Its holder may stay in Greece during the whole period and travel to or from Greece as often as desired. He/she may travel to other Schengen countries for a up to 90 days per six-month
period.
Conditions:
there is distinction between those who request a national visa in order to come to Greece and either purchase real estate property, or have already purchased such property and intend to request a residence permit.
Type of entry visa required to be used:
The applicant should take into consideration the following:
– No specific type of visa is required for the real estate property purchase or acquisition.
– If the foreign citizen needs a long period for research or after the acquisition
wishes to stay in Greece for an extended period of time, a type D national visa is
appropriate.
– If 90 days per six month period is long enough, and wishes to request anew an
entry visa for the next trip to Greece, then a type C Schengen visa suffices.
– In both cases, the application for a residence permit must have been submitted
before the expiration of the visa. The applicant can also choose to submit the
application through a proxy person.
Frequently Asked Questions (FAQ):
May the members of the investor’s family request a residence permit?
Yes. The may request individual residence permits . They must though submit separate applications. Their own permit expires at the same date that the investor’s permit expires.
Do persons holding a residence permit have the right to work in Greece?
No, permanent residence does not permit you to work in Greece or engage in business activities in Greece.
I would like to request a residence permit. Should I get an entry visa for Greece before I submit my application for the residence permit?
Only if you come from a country, whose citizens are required to get an entry visa in order to come to Greece.
What advantages provides to its holder a residence permit in Greece?
- He/she may stay continuously in Greece for its whole duration
- He/she may travel to other Schengen countries without a visa, but his/her stay in those countries cannot exceed 90 days in each 6-month period.
- He/she has access to health or education services, just like any Greek citizen.
How long can it take until the residence permit is issued?
It must be issued within 2 months from the day on which the application was
submitted or reached the Decentralized Administration.
I submitted an application for a residence permit and I was given a document proving its submission. What can I do with it?
You may travel freely as often as you wish to/from Greece. Attention: you are not allowed to travel to any other Schengen country. This means that any flight schedule that requires a flight transfer at the airport of an other Schengen country should be avoided.
