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Greece
Greece Residency by Investment
Greece
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.
- The investor’s spouse, children (under 21), and parents also gain 5-year permanent residence without any additional investment.
- Enjoy visa-free travel to Schengen countries, and reside in these countries for short periods.
- No obligation to reside in Greece to maintain permanent resident status.
- Those who choose not to reside in Greece can rent out the property to earn additional income.
- Access high-quality EU standard healthcare services.
- Children can attend internationally reputed schools and universities at domestic tuition rates.
- 1. The individual or sole proprietor of a legal entity must own real estate worth at least €250,000 in Greece or have signed a contract with an attorney or realtor demonstrating the intent to buy real estate worth this amount.
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:
- The investment could include various real estate properties, which have a total value that exceeds €250,000. This allows the investor to purchase liquid real estate at reasonable prices.
- The investment amount is calculated based on the estimated value of a piece of real estate, which is typically higher than the market value. So, the minimum investment amount of €250,000 could be fulfilled at a market price of $150,000 or more.
- The investor can renew their five-year permanent residence, even if they do not reside in Greece. So, it is possible to rent the real estate purchased and earn returns on investment.
- Notarized contract of a real estate purchase.
- Attestation of the contact being registered with the Land Register.
- Notary’s attestation of the real estate meeting legal requirements (including the value).
- Payment receipt of the state fee as per Article 132.
- A valid passport.
- Marriage certificate (if the investor has an accompanying spouse).
- Children’s birth certificates (if children are included in the application).
- Health insurance policy.
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.
Application Process
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.
OR
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.
How Can We Help?
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!
Fulfill your Greece Immigration Dreams with us, pick up your phone and dial (+91) 859 533 8595 for immediate free counselling or write to [email protected] for assistance on Business Immigration.
