Greece residence
Overview
Greece’s passport is ranked as the 6th strongest passport in the world. It allows visa-free access to over 171 countries. Greek passport holders have the right to study, work, and live in any country in the European Union.
On 18'th April 2013, Greece introduced Law 4146/2013 giving Non-EU citizens and their family members the right to obtain Residency Permits by investing in Real Estate in Greece. The allowance for these types of residency permits has been integrated into the existing Law 3386/2005 "Entry residence and social integration of third-country nationals in Greece."
According to Article 36A of the Law, a five-year Residency Permit can be granted to Non-EU citizens who own or purchase real estate in Greece, the value of which exceeds 250,000 euro.
The duration of this type of Residence Permit is 5 years and it can be renewed indefinitely (for a 5-year period each time) provided that the real estate property is still owned by the applicant.
In July 2015, Greece introduced new amendments to Law 4251/2014 under the Law 4332/2015, giving Non-EU citizens the right to obtain citizenship if they reside in Greece for 7 consecutive years, providing they stay in Greece for a minimum of 180 days for each year.
Permanent Residency Timeline:
2-3 months
Citizenship Timeline:
7 years
Nationalities supported:
Open to all non-EU nationalities
Investment type:
Real Estate
Investment cost:
€ 250,000
Benefits
Personal Freedom
European Residency in 2 - 3 months
Full family Residency.
You and your family enjoy European Residency status and all of its benefits
No need to reside in the country
No minimum stay requirement
Open to all non EU nationalities
Get a second citizenship after 7 years
No need to give up your current Nationality
Free movement
Allows free travel within Schengen area, no visa or further documentation required, no lengthy customs checks
You can travel directly from your country of origin to any Schengen area country once your PR has been issued, no need to travel to Greece first
Reside in any other Schengen area country for up to a period of three months within every six-month period with the right of multiple entries
Business Advantages
Establish businesses, open bank accounts and expand investments worldwide
The property investment may be used for rental income profit and it is not necessary to occupy the property
One of the most popular tourist destinations worldwide, hence high demand for your property should you wish to rent it
Great infrastructures
Family Security
The Greek Residency Permit extends to Spouse and children below 21 years of age
The Greek PR gives the same rights to Education as the Greek Citizens, including Higher Education
Greece is known for its excellent health care system, ranked 14th out of 191 members by the World Health Organization
Lifestyle with a safe, stable, and natural environment
Costs
The Greek Residency Program requires making a real estate investment into a property in Greece.
Option - Real estate investment
The Residency Permit Program of Greece requires investing a minimum of €250,000 + VAT into Real Estate in Greece. The VAT level varies dependent on the region and is between 16-23%. Property Closing Costs are approximately 10%
| Full Investment | € 250,000 |
For a full breakdown of the government fees, legal fees and other fees payable, please contact us.
Timeline
Week 1-2
Week 1-2
CI Retainer Agreement signed and first Payment of CI Professional Fees
The Client could select the Greek property remotely and CI starts preparing property purchase documentation required to be presented for Residency application.
Week 2-3
Week 2-3
The Client must travel to Greece to get the passport stamped before submitting the Residency application. If client does not have Schengen Visa, then a Greek Tourist Visa must be applied for at the Greek Consulate in the client’s country of origin/residence
Week 4-5
Week 4-5
Lawyers prepare property purchase documents to complete the purchase. Property purchase funds and taxes transferred. Residency Permit documentation finalized and submitted to the Government. Government Fees are payable at this point.
File Submission Payment of CI Professional Fees is payable.
Months 3-4
Months 3-4
2 months for the official Residency Permit to be approved.
Final CI Professional Fees are paid.
Once approved Client either sends the passport to CI lawyers in Greece to insert Residency Permit or client travels to Greece to get Residency Permit inserted into Passport.
Free movement
Shengen Area
Members of the EU with an independent visa policy
Other EU members outside Schengen Area
29 countries visa-free
SCHENGEN AREA
Austria
Belgium
Czech Republic
Denmark
Estonia
Finland
France
Germany
Greece
Hungary
Iceland
Italy
Latvia
Liechtenstein
Lithuania
Luxembourg
Malta
Monaco*
Netherlands
Norway
Poland
Portugal
San Marino*
Slovakia
Slovenia
Spain
Sweden
Switzerland
Vatican City*
* Visa on arrival
The list of countries is subject to variations depending on each government's policy and so is access to these countries.
General info
Greece is
located in Southeast Europe at the crossroads of Europe, Asia, the Middle East,
and Africa and has land borders with Albania, the Republic of Macedonia, and
Bulgaria to the North and Turkey to the East of Greece includes a vast number
of islands (approx. 1.400), of which 227 are inhabited including Crete, the Dodecanese,
the Cyclades, and the
Ionian Islands among others.
Greece is a member of the EU, Eurozone, and the Schengen Agreement. Globally, Greece is also a member of the United Nations, the OECD and NATO.
The capital of Greece is Athens, the official language is Greek and the currency is the Euro.
The country offers an abundance of well-preserved monuments and ancient sites that are spread throughout the country. From Ancient Olympia, where the first Olympic Games were held, to Parthenon and the Agora of Athens, where Democracy was born, to the Mycenae and Crete. The presence of ancient Greek civilization is astonishing.
Greece is considered the birthplace of Western civilization, having contributed to the basis for mathematics, physics, literature, and other sciences.
The climate in Greece is Primarily Mediterranean, featuring mild, wet winters and hot, dry summers especially in the coastal areas and islands. The Inland and mountain regions have a temperate climate with cold, snowy winters and hot, dry summers.
The country is considered one of the most popular tourist destinations worldwide – about 16.5 million tourists visit Greece every year – the country has something to offer to all types of lifestyle, from its calm, secluded beaches, and villages, where one can retire and relax, to its buzzing modern cities.
To know more about investing in Greece’s permanent residence and citizenship program, please contact us or send a call back request and one of our specialists will contact you to discuss your needs.