Foreign nationals can gain permanent residence in Greece by investing at least €250,000 in real estate. The investor is granted a five-year residence permit, which can be renewed every five years, provided the investor continues their ownership of the real estate or continues the lease for commercial real estate.
This is one of the cheapest immigration by investment pathways in Europe, allowing a comparatively long residence period. Also, investors are not limited to a single investment object, which means that there is an excellent opportunity for increasing the liquidity of investments. The investor cannot work or conduct business activities in Greece.
2. For commercial real estate for tourism within Greece, the sole proprietor of a legal entity must sign a contract for the lease that is valid for at least 15 years.
Some factors to keep in mind when investing are:
Suppose the real estate is not owned by the investor when applying. In that case, documents a contract can replace 1-4 concluded with a relator or attorney, which showcases the intent to purchase real estate. In this case, the investor must provide a bank statement to prove that they have the necessary investment funds. All documents have to be officially translated to Greek.
There are two pathways to apply for permanent residency via investment:
Submit an application for a D Visa to the Greek consulate. On average, obtaining residency through this route takes three months. In this case, 50% of the investment amount is paid upon contract signing. Another 40% is paid before submitting the D visa application, and the remaining 10% is paid before submitting a permanent residence application.
Apply to the Greek Department of Foreign Affairs. On average, obtaining residency through this route takes one month. In this case, 50% of the investment amount is paid upon contract signing, another 40% is paid before submitting the permanent residence application, and the remaining 10% is paid after obtaining permanent residence.
With nearly three decades of experience providing global relocation solutions, our consultants offer customized services to guide you at every step – from selecting viable real estate to invest in sourcing the funds and creating a complete application for permanent residence with correctly formatted documents. We also offer tax planning and financial consulting services to ensure that your investment proves to be rewarding. With the support of seasoned consultants at every step, your investment is secured, and so is your family’s future!