Foreign individuals that wish to visit and stay in Greece for longer than 90 days, will need a residence permit which can be obtained in the first 2 months upon arrival in Greece, by the country’s authorities.
Applications for a residence permit can be made at the municipality office and applicants will need all the relevant documents:
- Copy of current Passport
- Visa from an embassy of Greece
- Passport-size photos (2)
- Medical Insurance document
- Health Certificate
- Proof of local residence
- Proof of sufficient financial resources to live in Greece
- Proof of payment (Fee to National Tax Office)
- Proof of employment contract
The above documents will need to be translated by a lawyer or translator in Greek, this includes any other certificates like marriage or birth.
Upon submission of the application form, you will receive “Blue Slip” – a receipt that your application is being processed by the authorities. During this period, you can either stay in Greece or travel back to your home country with this receipt, at any time.
Residence permits can take approximately 1 month for executives, and longer for non-executives. These permits are valid for 1 year and can be renewed if or when applications are submitted 2 months before the initial permit expires.
Permanent residency may be applied for after 5 years of continuous residence, and family members can benefit from this also.
The Fast and Easy Permanent Residence Procedure
Permanent Residence can be obtained when non-EU citizens make an investment in real estate in Greece worth €250,000. With the new changes implemented, families of applicants can also benefit from the visa by investment program.
Candidates can invest €250,000 in property and they, their spouse and children under 21 years old can be granted a 5-year residency visa. There is no minimum stay requirement for Permanent Residence, which means since you have this permit you will have access to countries throughout the EU.
Those with a Permanent Residency Permit – otherwise called a Greece Golden Visa – in Greece, will be able to benefit from the full rights and privileges of other EU citizens. This means they could purchase property, open a business or work and establish a residency in Greece.
The Permanent Residence Permit can be granted in just 2 months and be renewed every 5 years as long as the investment or property has not been sold within this period.
It’s key to note that after the Greece financial crisis, prices on properties have decreased as much as 50% and now real estate value is increasing. So investors have the opportunity now to purchase property much easier.
Even though Greece is still recovering from the economic crisis, it remains a place to invest in, due to the beautiful and historic aspects that surround the place, making it a reasonable country to invest in real estate for long term purposes.
A permanent residence in Greece requires the following conditions to be fulfilled:
- Purchase in real estate in Greece of €250,000 or more
- Real Estate property must be in possession of its owner
- If the owner has obtained the property through a legal entity, the applicant must own 100% of the company shares
- In cases of joint ownership, where the value of the property is €250.000, the Residency Permit is only granted if the owners are spouses with undivided ownership of the property. In all other cases of joint ownership, the residence permit is only granted if the amount invested by each of the joint owners is at least €250.000
- The Residency Permit is also granted in cases where the non-EU citizen is the owner through one or more legal entities where he is the sole owner or shareholder of those entities
The Benefits of a Permanent Residence in Greece
- Visa-free travel throughout Europe, including the Schengen Zone of Europe
- Greece cost of living is lower in comparison to other EU countries
- Low tuition costs
- High level of education by overseas educational institutions
- Permits apply to spouses and children under 21 years old
- Investment gains in real estate, high capital gains, increasing rentals
- 100’s of nearby islands to visit
- Sunny weather all year round
- Thousands of kilometers in coastlines with over 400 blue flagged beaches
- Healthy Mediterranean diet and unique local cuisine and wines
- Rich history and culture
- Improved infrastructure and professional services
- Advanced Medical facilities
- Friendly and Hospitable people
- Relaxed Lifestyle
Image Source by Rough Guides