To obtain a residence permit, the following criteria must be met:
a) The applicant is required to have property ownership and maintain possession of their real estate investment.
b) For jointly owned properties valued at €250,000, residence permits are granted only if the owners are spouses with undivided ownership. Otherwise, each joint owner must invest a minimum of €250,000 (i.e., two investors must jointly purchase real estate of a minimum value of €500,000).
c) If the property is acquired through a legal entity, the applicant must own 100% of the company shares.
d) Residence permits are also issued if the applicant, either directly or through a legal entity, owns multiple properties with a total investment value of at least €250,000.
e) In cases where third-country citizens lease hotel accommodations or furnished tourist residences for at least 10 years in integrated tourist resorts, with a minimum lease value of €250,000, the contract must stipulate a single payment equivalent to ten years’ worth of leasing.
In all the above cases, the property’s value is determined by the purchase contract. The objective or assessed value is irrelevant unless it matches the amount specified in the purchase contract.

The first step to acquire a residence permit as a real estate property owner is obtaining an entry visa. An entry visa is a type of authorization issued by the Greek authorities, which entails visiting Greece at least once before applying, even if only for a single day. According to Law 4251/2014, any third-country citizen legally entering Greece with any type of entry visa or holding legal residency in the country, irrespective of their status or residence permit type, is eligible to apply for a residence permit. Once issued, the residence permit eliminates the necessity for an entry visa for the duration of its validity.

The residence permit granted is permanent, yet renewal is necessary every five (5) years, with the option to renew for the same duration and as often as requested by the applicant. To renew the permit, certain conditions must be met:

  • The applicant must maintain full ownership and possession of the real estate property.
  • The releveant leases/contracts must remain in effect.

There is no requirement for applicants to stay a minimum duration in order to retain or renew their residence permits. However, if the real estate property is sold to another third-country citizen while the residence permit is still valid, the new owner becomes eligible for a residence permit, while the seller’s permit is revoked.

  • Two completed application forms (duplicate copies)
  • Four recent biometric photographs, along with a digital copy on an optical disc (CD).
  • A certifiec copy of a valid passport with Entry Visa.
  • Payment of stamp duty: €2,000 for the primary investor, €150 for each adult applicant, and €16 for each applicant.
  • Certification by an insurance agency confirming coverage for hospitalization and medical care.
    Acceptable documents include:

    • Insurance contracts obtained in Greece.
    • Insurance contracts obtained outside Greece, provided they explicitly cover the interested party during their stay in Greece.
  • A notarized copy of the property purchase deed.
  • Proof of title transfer from the relevant Land Registry.
  • For Family Members only: A recent birth or family certificate issued by the competent foreign authorities, duly apostilled.

The documents needed for the residence permit application must be presented in Greek, except for those issued by foreign authorities, which must be certified before translation. Two forms of certification are accepted:

a) The Apostille stamp for countries participating in the Hague Convention.
b) Certification by the Consular.

Foreign public documents can be translated in Greece through either the Translation Service of the Greek Ministry of Foreign Affairs or by a Certified Lawyer.

Upon submitting the application, the applicant will receive a receipt confirming its submission (with an attached photo) which serves as a temporary residence permit valid for one year. However, typically, authorities process applications within two (2) months. Once an application has been submitted and the confirmation receipt received, any third-country citizen is permitted to reside legally in Greece. Holders of the confirmation receipt are entitled to the benefits associated with the residence permit they’ve applied for. Therefore, they may engage in any legal transactions regarding their investment and interact with all relevant authorities.

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