Ιnstructions for obtaining Residence Permits for Property Owners in Greece

All citizens of third countries who wish to acquire property in Greece now have the right to a Greek residence permit, for which a special procedure has been instituted.

With each purchase of real estate for more than €250,000, every owner from a third country can take advantage of the right to a residence permit and a Schengen visa. The residence permit is renewable every five years.

To acquire a residence permit, the following requirements must be met:

  1. The owner who is seeking the Residence Permit, must be the sole legal owner of the property.
  2. If there is co-ownership of the property, in the amount of €250,000, the residence permit is provided to both co-owners, only if they are husband and wife who own the indivisible property. In any other case of co-ownership, the right to residence is provided only if the amount invested by each co-owner amounts to €250,000.
  3. If the ownership has been acquired through a legal person, then all the shares or

holdings in said company must belong exclusively to the owner.

  1.     The citizen of a third country can also acquire the residence permit in the event that he is the owner, either personally or through a legal person, of more than one property the total value of which amounts to €250,000.
  2. The only family members who can benefit from the residence permit are the owner’s husband/wife and children under 21 years of age. For children over 21,           the value of their share in the property must amount to €250,000.
  3. If the interested party has a type D visa, the intention to purchase must be proved by special documents certifying his financial capability (such as certification by a recognized bank or official organization, etc.), and must certify the existence of an account or shares with sufficient value to cover the purchase price in Greece, and in all cases, it must cover the amount of €250,000. Likewise, for entry into Greece, the interested party must prove his or her intention to purchase property by presenting a contract assigning the task to a real estate agent or legal firm.

The process of issuing a residence permit is relatively easy, when the new owner presents the necessary documents to the Greek authorities. The process takes place with the assistance of our company’s expert advisers and jurists.