Permanent Residence Greece

About Greece:

• A new law on the stay of foreigners in Greece (4251/2014) has brought citizens of third countries a new way to immediately get a 5-year permanent residence in Greece by purchasing real estate, the total value of which must be at least €250,000.
• Unlike other such opportunities in Europe, Greece is offering the ability to get a temporary permanent residence for quite a long period in exchange for a comparatively small investment. Furthermore, applicants aren’t limited to just one investment object, which brings great opportunities for increasing the liquidity of their investments.

Benefits:

• Visa-free travel or stays in Europe-You and your family will be have the right to reside in Greece for unlimited time furthermore visa-free travel in Schengen countries.
• Your whole family will immediately get permanent residence for 5 years-For one investment in Greek real estate, the investor’s spouse, children under 21 and parents can receive a permanent residence for the same period as the main investor.
• No requirement to live in Greece-There is no obligation to spend a certain amount of time in Greece, and if you have property there you can rent it out and receive additional income.
• Education and healthcare to a European standard-Having permanent residence in Greece allows you to use high-quality medical services, and your children can attend schools and universities.

Residency Options:

• Residency for dependents for 2 years.
• Residency for entrepreneurs for 1 year.
• Permanent residence upon purchase of real estate in the value of at least €250,000 for five years.
• Residency for strategically important investments for 10 years.
• Residency for top managers of a company for 2 years.

Permanent residence upon purchase of real estate in the value of at least €250,000 for five years:

• Ownership, as an individual or the sole proprietor of a legal person, of real estate in Greece, the value of which is at least €250,000, or a contract signed with a realtor or an attorney on the intent to purchase real estate in this amount.
• A contract for the lease, for no less than 15 years, of commercial real estate for tourism purposes within Greece on behalf of the sole proprietor of a legal entity.
• The calculation is based on the total value of all pieces of real estate-the object of investment can consist of several pieces of real estate, the total value of which is higher than €250,000, which allows you to buy liquid real estate for a reasonable price.
• The estimated value can be higher than the market price–The rules for the minimum investment amount take into account the estimated value, which is generally higher than the market price, as it involves more criteria. The minimum required investment amount of €250,000 can be achieved at a market price starting already from €150,000.
• The real estate you own can be rented out-To successfully renew this permanent residence, there is no requirement to live in Greece. This allows you to rent out the property that you have bought and thus receive additional income. This form of permanent residence does not permit you to work in Greece or engage in business activities in Greece. This category of permanent residence does not yet imply receiving citizenship of Greece in the future.
• Permanent residence in Greece through investing in real estate is issued for 5 years, with the possibility to renew your permit every 5 years. The only conditions are that you continue to own the real estate or lease for commercial real estate.

Timeframe:

• Obtaining residency takes on average 1- 3 months

Required Document:

• A notarized contract for the purchase of real estate
• Attestation that the contract has been registered with the Land Register
• Attestation from a notary that the real estate meets the requirements of the law (including the value)
• Receipt for payment of a state fee according to Article 132 of law 4251/2014
• Valid passport for traveling abroad
• Marriage certificate (if two spouses are applying)
• Birth certificates of any children (if you are applying together with your children)
• Health insurance policy

Other Points:

In the event that the real estate used for applying for permanent residence is still not in your ownership, documents 1–4 are replaced with the contract you have concluded with an attorney or realtor on the intent to purchase the real estate.
This additionally brings a requirement that you prove that you have funds in an amount of at least €250,000, for which a bank statement can serve. All documents must be officially translated into Greek.

For a Free Consultation on Migrating to Greece, Contact us, and an Immigration Consultant will be assigned to speak with you right away.