The government of Greece introduced a procedure to obtain residence permits to investors in Greek real estate, which can be renewed every five (5) years. The value of said property in Greece must be €250.000 or higher.
The long-anticipated legislation has opened the door to thousands of potential investors looking to benefit from Greek’s historic low property prices and fantastic lifestyle benefits.
The right of entry and the permanent, renewable residence permit is given to the following categories of people:
- non-Schengen area country citizens who own real estate in Greece, either personally or through a legal entity of which they own the total of the company shares, provided the minimum value of the property is €250.000;
- non-Schengen area country citizens who purchase a plot of land or acreage and proceed to erecting a building, provided that the cumulative value of the land purchase and the contract with the construction company is at minimum €250,000.
- family members of the third country citizens described above in the above two categories. Specifically, the investor's spouse, parents, spouse's parents and children younger than 21 years old.