GREEK RESIDENCE PERMIT FOR INVESTORS

 

GREEK RESIDENCE PERMIT FOR INVESTORS

Granting of residence permits to Owners of Real Estates in Greece (Article 36A of the Law 3386/2005)

1.     By a decision of the General Secretary of the Decentralized Administration, a residence permit is granted for five years to a citizen of a third country , provided that he/she has received a special validation of entrance, in the cases in which it is required, and that :

-        he/she has ownership, possession and occupation of a real estate  in Greece, either personally either through a legal entity of which he/she owns all of the stocks or company shares ,  or

-        he/she has signed a timesharing lease according to the law 1652/198 ,

-        or he / she has signed a 10 year lease of hotel accommodations or touristic furnished houses in complex touristic accommodations of the article 8 par. 2 of the Law 4002/2011.

 

The above residence permit can be renewed for another five year period,  provided that  the real estate remains in the ownership, possession and occupation of the person or the above mentioned contracts remain valid and the rest terms that are stipulated by the law are fulfilled.

 

The minimum value of the real estate and the stipulated in the relevant contract price of the timesharing leases and the leases of hotel accommodations or touristic furnished houses in complex touristic accommodations mentioned above,  is determined at the amount of two hundred fifty thousand Euros (250.000,00 Euros).

 

By a common decision of the Minister of Internal Affairs and Finance, the value of the above real estate may be readjusted and it will derive according to the value of the real estate that is written on the relevant purchase or lease contract.  

 

The above citizen  of a third country can be accompanied by the members of his/her family , according to the paragraph 1 of the article 54 of the Law 3386/2005, to which members a personal residence permit will be granted after their application , which residence permit expires at the same time as the residence permit of the owner of the real estate.