THE RESIDENTS PERMIT OF GREECE through investments to real estate
The benefits and rights obtained by a resident of Greece are as follows:
- visa-free entry to all the countries of the Schengen Agreement practically not limited in time;
- the whole family has the right to live in any country of the Schengen area during the period when the residence permit is valid;
- there is no need to stay in Greece for a certain period of time;
- the right to educate his/her children in educational institutions of the Schengen countries;
- the right to obtain the permanent residence after five years from the date of obtaining residence permits;
- the right to apply for citizenship after five years from the date of obtaining permanent residence.
The categories of residence permit provided by immigration legislation of Greece are as follows:
- Residence permit for financially independent persons (for 2 year).
- Residence permit for conducting independentbusiness activity (for 1 year).
- Residence permit for real estate owners(up to 5 years).
- Residence permit for sound investments (up to 5 years).
- Residence permit for strategically important investments (up to 10 years).
- Residence permit for supervising staff of Greek companies or subsidiaries of foreign companies (for 2 years )
NEW GREEK RESIDENCE PERMIT PROGRAM
- Residence permit through investment to real estate (for 5 years) (Article 20 p. A law 4251/2014) in further this program will be described
Residence permit through by investment to real estate can be obtained by those third-country citizens who:
- own real estate or have at their disposal the Engagement Agreement signed with a Realtor or Lawyer on the purchase of real estate (as an individual) in Greece, the cost of which is more than 250,000 EUR according to notaries act
- own real estate or have at their disposal the Engagement Agreement signed with a Realtor or Lawyer on the purchase of real estate (as the sole owner of a legal entity) in Greece, the cost of which is more than 250,000 EUR according to notaries act
- own rental commercial real estate of tourist purpose (as the sole owner of a legal entity) in Greece, and the Lease Agreement concluded not less than for 15 years;
- did not have a criminal record in the past and are not included in the Greece Undesirable Persons Catalog.
Third-country citizens who meet the above mentioned criteria have the right to be accompanied by family members (only the spouse and children under the age of 21 year are considered), who receive the same residence permit as the owner of real estate.
The advantages of Greek residence permit by investments to real estate:
- The minimum required amount of value of the property in 250.000 EUR can make the total cost of a few properties;
- The minimum required value of real estate in 250,000 EUR can be realized with the value of real estate in 150,000 EUR due to the appraised value made by an independent Appraiser company;
- The owned property can be rented;
- For the successful extension of residence permit it is not required to live in Greece.
This residence permit category:
- does not provide the right to work and the right to be engaged in business activities.
- does not lead to the citizenship in other words it doesn’t belong to the residence permit programs focused on second citizenship planning.
- does not allow to change the residence permit category.
- is issued for a period of five years with the possibility to extend it every five years, provided that the real estate is maintained.
The registration of this residence permit category can begin with:
- D visa registration at the nearest embassy of Greece;
- the direct submission of the application for residence permit to the Immigration Department of Greece. The submission of an application and the obtaining of a residence permit can be made either by Greek Attorney basing on the Power of attorney certified by a Notary and an Apostille, or directly by the Applicant.In order to obtain the residence permit of this category the biometric data is provided personally to the Immigration Department.
In order to obtain D visa the following documents must be submitted:
Valid travel passport or other travel document with a valid visa that is recognized by Greece.
Prerequisite: A passport must be valid for at least three months after visa expiring, have at least 2 blank pages and be published during the last decade.
- Notarized Agreement of purchase of real estate.
- Certificate of registration of Notarized Agreement in the Land Register.
- Notary Certificate confirming that this property meets the requirements of the law.
- The document confirming the payment of governmental fees in accordance with Art. 132 Law №4251 / 2014
- Health insurance.
- Marriage certificate (in case of registration of the residence permit for a married couple).
- Birth Certificate of minor child (in case of registration of the residence permit for minor children together with main applicant and/or married couple).
If the Greek residence permit is to be registered on the real estate which is not yet in ownership of the applicant, the documents under the 2-5 numbers from the above list must be replaced by the Engagement Agreement on the purchase of real estate signed with a Lawyer or Realtor.
In this case, it will be necessary to provide the documents confirming the availability of funds in the amount of at least 250.000 EUR. Bank account statement can serve as such confirmation.
All documents must be officially translated into Greek or English.
The term of an order fulfillment:
- In the case of registration of a residence permit through the registration of D visa, it will last for 2 months:
- Registration of D visa – 2 weeks;
- Registration of Greece residence permit – 1 month.
- In the case of registration of a residence permit directly through the Immigration Department in Greece, it will last for 1 month.
Extension of residence permit:
For the extension of residence permit it is necessary to submit the following documents to the Immigration Department at the place of registration 2 months before the expiration of the residence permit:
- Application for the extension of residence permit;
- Two color photos;
- Copy of the valid travel passport;
- Copies of all pages of the passport for the period of valid residence permit;
- Certified copy of the current residence permit;
- Document confirming the payment of governmental fees;
- Documents confirming the private or rental (commercial) real estate.
The cost of our services:
- residence permit for the main Applicant – 20,000 EUR ;
- residence permit for the additional family members of the main Applicant – 5,000 EUR;
- extension of the Greek residence permit for the main Applicant – 10,000 EUR ;
- extension of the Greek residence permit for the additional family members of the main Applicant – 2,500 EUR.
In the case of registration of a residence permit through a D visa, the payment for services of our company fees is as follows:
- 50% of our fees is paid after signing of the Agreement;
- 40% before submitting an Application for a D visa;
- 10% before submitting an Application for the residence permit of Greece.
In the case of registration of a residence permit through the Immigration Department of Greece, the payment for services of our company is as follows:
- 50% of our fees is paid after signing of the Agreement;
- 40% before submitting an Application for the residence permit of Greece;
- 10% after obtaining the residence permit of Greece.