Ioannis Marakakis law firm and its associates worldwide organize management, leasing and disposition activities for all real estate assets. We provide solutions to a wide range of real estate applications and we are specializing in commercial real estate sales, leasing, and management to include land, industrial, office, and retail.
VISA – 5 year Residence permits
to investors in properties of over 250.000 euros value in Greece.
The Greek government now gives the opportunity to Third-country citizens willing to invest at least 250.000 euros to buy property, to acquire a five-year residence permit which after expiry may be renewed, for themselves and their family members.
Pursuant to the new law (act 4146/2013) smaller investors of capital just over 250.000 Euros are now granted along with their family members residence permit and may renew it as long as the property remains in their ownership. This permit also grants them the right to travel freely within the EU.
According to the provisions of Article 6 of Law 4146/2013 any Third-country citizen already holding or intending to acquire real estate property in Greece, of minimum value two hundred and fifty thousand (250,000) euros can acquire residence permit provided:
– they are the property owners
– in case of joint ownership of property of 250.000€ value, the owners are spouses (man and wife)
– in any other joint ownership case, each investment is at least of 250.000 euros
– in case of multiple property ownership the total value of all property must exceed 250.000 €.
– in case the property is acquired by a company the beneficiary of the permit shall be the sole share holder.
All members of the families of the aforementioned Third –country citizens will be granted residence permits as well.
As regards to the entry of the aforementioned investors, they shall enter the country preferably with type D visa and before its expiry date they need to have completed the property transaction and filed for the 5 year residence permit. Before the expiry of the granted 5year permit , they need to apply for its renewal for another 5 year period, provided the real estate remains in their ownership.
Beneficiaries are not obliged to live or spent any particular period in Greece in order to be granted the permit.