According to Law 4251/2014 the Greek Government offers residence permits and access to Schengen zone to non-EU citizens and their family members (spouse, children up to the age of 21 and the ascendants of the spouses), who acquire a property in Greece, the value of which must equal or exceed 250.000,00 €. The purchase may be performed by an individual or a legal entity. Greece is offering one of the most affordable residence permits Programmes in Europe. Other countries have stricter requirements for obtaining Residence Permit, for example in Cyprus the property must equal or exceed 300.000,00 € and in Spain and Portugal the amount of 500.000,00 €. Multi property purchase is also acceptable, provided that the total investment exceeds 250.000,00 €. The real estate assets can be a house, a villa, a flat, land plot or a combination. It can also be 250.000,00 € time sharing lease, of hotel or tourist furnished accommodations.
Greek Golden Visa Programme grants a permanent residence permit, which can be renewed every 5 years, to the owner, his/her spouse, their parents and their children. Residence permit act as a form of visa to all 26 Schengen-Area countries, including all of Western Europe, except the UK and reside there for up three months every semester. The permit requires only token residence in the country where the property is located, meaning that buyers can use it as a springboard to live elsewhere in Europe.
Among the benefits for the owner and his/her family are the reside in Greece without time restrictions, access to the Greek education system, there is no language and no minimum personal income requirements, the procedure is simple, fast and transparent while the application cost is low.
According to 2017 figures until today more than 1680 residence permits have already been granted to non EU investors and approximately 4000 residence permits to investors and their family members. The majority of the investors are mainly from China, Russia, Turkey, Egypt and Lebanon. From the 1680 residence permits, over 700 have already been granted to Chinese investors.
MStR Law supports non EU investors to safely buy properties in Greece or invest in other sectors of the Greek economy, covering at the same time the entire process for acquiring the Greek Golden Visa for them or their families.For more information, please contact Mr Nassos Michelis, Attorney at Law LL.M. Munich / Partner – Administrator (firstname.lastname@example.org) or Ms Eva Keki, Attorney at Law LL.M. Bonn / Associate (email@example.com).