Useful information to obtain a residence permit in Greece to property owners who come from third countries.

 

All citizens wishing to acquire real estate in Greece now have the right to issue a residence permit in  a specific procedure is established.

 

 

With every property purchase of more than € 250,000 each owner from a third country benefits from the right of residence and Schengen Visa. The residence permit is renewed every 5 years.

 

In order to obtain a residence permit, the following conditions must be met:

 

 

  • Property should be owned, rented and owned by the owner requesting the Residence Permit
  • If the property is co-owned to the amount of 250,000, a right of residence is granted to both only if the owners of the property are spouses holding the property indiscriminately. In any other co-ownership case, a right of residence is granted only if the amount invested by each co-owner is € 250,000
  • If ownership has been acquired through a legal entity, the shares of the owner should be wholly owned by the owner
  • A third-country national may acquire the right to reside in cases where he is the owner, either personally or through a legal person, in more than one property whose total value reaches the sum of 250,000 €
  • As a family member, the residence permit will benefit the spouse and the children of the owner under the age of 21 years. For children over 21 years of age, it needs a private ownership of 250,000 €
  • If the person concerned uses a D-type visa, the purchase intention must be evidenced by specific documents confirming his / her financial capacity (such as a certificate from a recognized bank or official body, etc.) and certifying the existence of an account or shares of value that may cover its purchase amount in Greece, and in any case to cover € 250,000. Also, in order to enter the country, the interested party must prove his intention to purchase a property by contract with a brokerage or law firm

 

The procedure for issuing a residence permit is made when the new owner submits the necessary documents to the Greek Authorities. Specialized consultants and lawyers with whom we work contribute to the process.