VISAS FOR INVESTORS IN GREECE

VISAS FOR INVESTORS IN GREECE

 

The Greek Government  is planning to grant residence permits to  those who are   going to proceed with a real estate purchase the price of which will exceed the amount of  300.000,00 Euros. This opportunity regards mostly buyers not in the European Zone, as the European buyers do not have problems regarding visas. According to recent information, American, Australian and Rusian citizens are investigating in order to buy real estates, mostly houses  for their vacations  in Greece, especially in the islands, such as  Rhodes, KosSymi ,  and they are at same time interested in staying in Greece for long periods of time.

The Government’s plans regarding these visas are connected to the government’s   plans about the development of large touristic accommodations, which will include hotels and other touristic accommodations that can be sold to foreign investors  and also can be rented for the periods of time during which the owners will not be in Greece.

According to information, the relevant law that is going to be passed within the next few weeks, will stipulate that  the citizens of other countries who will buy a house in Greece for a price over 300.000,00 Euros, will be able to get  a residence permit with duration of 5 years, which will be able to be renewed for as long as they own their house.  Also,  the foreign citizens who will make business investments, of an amount over than 100.000.000,00 Euros will be able to get a residence permit for 10 of their  executive officers  in order for them to be working in Greece.

This «easy residence permit» will regard citizens of foreign countries and the members of their families, who obtain a house in Greece for a price exceeding the amount of  300.000,00 Euros and the purchase regards only one owner of the whole house. The five year duration of this residence permit will not be calculated  in the stipulated  period of time necessary  according to  the provisions of acquiring Greek Citizenship and will not allow its holder to work in Greece.

Also, there are government plans regarding the creation of a stable taxation system mostly for big investments , in order for the investor to know that for many years he will be subjected  to the same taxation.