Acquisition of real estate property

Whom does it concern?

Citizens of countries, which are not European Union members



What is the minimum value of the real estate property?

250.000 Euros



This sum concern one or more properties;

It does not matter. Whether one or more properties, their total value must be at least 250.000 Euros.



How is the value of the property/ies proved?

From the value mentioned on the purchase or the rent contract.



What happens if the property belongs to a legal entity?

It does not matter as long as the company shares or the shareholdings belong in whole to the person that will request the residence permit .



Does the value of 250.000 Euros concern only the purchase of a real estate property?

No, several alternative options exist: Purchase of real estate property, or Timesharing agreement with a duration of at least 10 years, or Lease with a duration of at least 10 years of hotel facilities or fur-nished homes in combined tourist facilities (according to Law 4002/2011—article 8§2).



What type of entry visa is needed in order to purchase real property and request a residence permit in Greece?

Either a type C Schengen visa , or a type D national visa.



What is the difference?

Type C—Schengen visa: its holder may stay in Greece and the other Schengen countries for up to 90 days per six-month period. This period start on the day of the first entry in the Schengen area. If the visa is valid for one entry and the citizen of a third country wishes to enter Greece again, he/she should request a new visa. Type D—national visa: there is a special provision for real estate property owners or perspective buyers. Its duration is up to 365 days. Its holder may stay in Greece during the whole period and travel to or from Greece as often as desired. He/she may travel to other Schengen countries for a up to 90 days per six-month period.



What are the conditions for these two types of visa?

The conditions are different. Schengen visa (type C) : the general conditions for a type C visa are applied. National visa for real estate owners or perspective buyers (type D) : there is distinction between those who request a national visa in order to come to Greece and either purchase real estate property, or have already purchased such property and intend to request a residence permit .



Which type of entry visa should be used?

The applicant should take into consideration the following: - no specific type of visa is required for the real estate property purchase or ac-quisition. - If the foreign citizen needs a long period for research or after the acquisition wishes to stay in Greece for an extended period of time, a type D national visa is appropriate. - If 90 days per six month period is long enough, and wishes to request anew an entry visa for the next trip to Greece, then a type C Schengen visa suffices. - In both cases, the application for a residence permit must have been submitted before the expiration of the visa. The applicant can also choose to submit the application through a proxy person.



What is the duration of the residence permit ?

5 years



Can the residence permit be renewed?

Yes, for another 5 years each time, provided that the applicant still owns the property



May the members of the investor’s family request a residence permit?

Yes. The may request individual residence permits . They must though sub-mit separate applications. Their own permit expires at the same date that the investor’s permit expires.



Do persons holding a residence permit have the right to work in Greece?

No, but According to the Law 4332/2015, citizenship offers the privilege of employment as soon as it is acquired.



If I get a residence permit, can I add the period of its duration to the total duration needed in order to request the Greek nationality?

Yes, after 7 years if the applicant is eligable.



I would like to request a residence permit. Should I get an entry visa for Greece before I submit my application for the residence permit?

Only if you come from a country, whose citizens are required to get an en-try visa in order to come to Greece.



Where should I submit the application for a residence permit?

At the Directorate of Foreign Citizens and Immigration of the Decentralized Administration, at the location of his residence. In some areas though, the application should be submitted to the Municipality of his/her residence. In the latter case, the file must transferred to the Decentralized Administra-tion within 15 days.



Who decides on the application for a residence permit ?

The Secretary General of the Decentralized Administration.



What advantages provides to its holder a residence permit in Greece?

- He/she may stay continuously in Greece for its whole duration - He/she may travel to other Schengen countries without a visa, but his/her stay in those countries cannot exceed 90 days in each 6-month period. - He/she has access to health or education services, just like any Greek citizen.



How long can it take until the residence permit is issued?

It must be issued within 2 months from the day on which the application was submitted or reached the Decentralized Administration.



Is the applicant covered from the moment he/she submitted the application until the day the residence permit is issued?

Yes. - If all the supporting documents are submitted, a proof of submission Is issued. - If an application for a residence permit is submitted for the first time, this proof of submission is issued, even if the supporting documents with regard to the in-surance coverage or the medical certificate of the applicant will be submitted at a later date.



What is the duration of the proof of submission regarding an application for a residence permit?

One year.



I submitted an application for a residence permit and I was given a docu-ment proving its submission. What can I do with it?

You may travel freely as often as you wish to/from Greece. Attention: you are not allowed to travel to any other Schengen country. This means that any flight schedule that requires a flight transfer at the airport of an other Schengen country should be avoided.



May the members of their family also apply for a residence permit ?

Yes. The members of their family may apply. The same applies to persons assisting those family members provided that the latter are disabled or have special needs. The duration of those permits ends when the residence permit of the per-son on whom they base their right expires



Strategic Investment

Whom does it concern?

Citizens of countries, which are not members of the European Union



Which investments are considered to be strategic?

An investment is considered to be strategic when is a relevant Decision of the Interministerial Committee of Strategic Investments has been issued (Law 3894/2010—Gov’t Gazette Α’ 204)



Who can request a residence permit?

- The legal representative of the entity, which implements the investment - up to 10 persons, for which a residence permit is considered to be neces-sary in order to implement the investment



What is the duration of a residence permit by strategic investment?

Up to 10 years.



I have a residence permit. Can I count its duration in the time-period I need in order apply for Greek citizenship?

Yes.



Where must the application be submitted?

At “Greek-Investment Agency”.



Who decides on the residence permit?

The Minister of Interiors issues a decision.



What are the advantages of a residence permit in Greece for its holder?

- He/shecan stay continuously in Greece as long as the residence permit is valid. - He/she can travel to other Schengen countries for up to 90 days for every six-month period. - He/she has access to health or education services in Greece just like any Greek citizen.



PROPERTY INVESTMENT & CONSULTING SERVICES

21 Haimada str., 15232, Halandri, Athens, Greece

+30 215 565 1466

+30 697 655 8663

grk.invst@gmail.com

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