The Greek legislation gives the opportunity of a permanent residency permit to non-EU citizens and their family members, through the purchase of a property, the value of which exceeds 250.000 €
The residency permit can be renewed at five-year intervals indefinitely, as long as the real estate property remains at the ownership of the investor.
After seven years of continuous residency the investors may apply for Greek citizenship.
Greek residency permit:
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Residence permit with the purchase of a home
A. Permanent residence permit of the investor - real estate owner
By decision of the Secretary General of the Decentralized Administration, residence permit for five years, subject to renewal, is granted to a third country national who:
(a) has legally entered the country with any type of visa or legally resides in the country, even if the type of residence permit that he possesses, does not permit change of purpose.
(b) has personally the full ownership, possession and peaceful enjoyment of real estate property in Greece. In the case of jointly owned property, worth 250,000 euro, the right of residence is granted only if the owners of the property are spouses with indivisible shares in the property. In all other cases of joint ownership, the right of residence is granted only if the joint ownership rate of each joint owner is worth 250,000 euro.
(c) has the full ownership, possession and peaceful enjoyment of real estate property in Greece via a legal entity, whose shares are fully owned by him.
(d) has concluded an agreement for at least ten years lease of hotel accommodation or furnished tourist residences in tourist accommodation complexes, pursuant to the Article 8 par. 2 of the Law 4002/2011 (Government Gazette 1, no 180).
(e) has concluded a time sharing agreement pursuant to the provisions of the Law 1652/1986 "Time sharing agreement and related issues" (Government Gazette 1, no 167), as in force.
B. Issue and renewal of residence permit for investment activity
The entrance and residence of third country nationals is permitted in Greece, for the purpose of making investments that will have a positive impact on national development and economy.
Depending on the amount and the characteristics of the investment, up to ten third country nationals may enter and reside in the country, including the investors, for the implementation and operation of the investment.