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The Greece residence permit by investment program was launched in 2014. Applicants can participate in it by buying residential or commercial real estate for €250,000.
The required investment in real estate is the minimum amount required among the residence permit programs in the European Union. Moreover, the property can be rented out. After receiving permanent residence in five years, the investor can sell the property.
Investors do not have to pass exams on knowledge of the Greek language or the history of the country. They are also not required to live in Greece to renew their residence permit.
Greek residence permit holders by investment can spend up to 90 days in any 180-day period in any Schengen country without a visa.
A residence permit allows the holder to visit Greece at any time, even when the borders are closed to tourists. At the same time, moving to the country is the investor’s right, not an obligation: the program does not stipulate compulsory residence in the country.
If a foreign investor becomes a tax resident in Greece, they are offered preferential tax rates. The investor pays a flat tax on their world income of €100,000 per annum. The investor’s close relatives can also take advantage of the preferential rates and pay €20,000 per annum.
Without these exemptions, global income tax is levied on a progressive scale and can be as high as 45%.
After five years of permanent residence in Greece, the investor can obtain permanent residence, and after another two years, they can apply for citizenship.
To become a Greek citizen by investment, the applicant needs to be over 18 years old, have no criminal record or deportation history, and they must show that they are capable of integrating into the life of the country. As of 2021, all citizenship applicants must take a written examination in the language, culture, history, geography and system of government.
Greece allows its citizens to hold multiple citizenships at once. Investors do not have to renounce their original citizenship, as long as their original country does not require this.
over 18 years old
without a criminal record
or a partner with whom a cohabitation agreement has been signed and registered in Greece
dependent on the investor
Greece offers investors seven options for getting a residence permit by investment. Six of them are related to the purchase or rental of real estate.
The investor can buy residential or commercial real estate in Greece. The property can then be rented out. Five years later it can be sold and the money returned to the investor.
Real estate can be registered through an EU-registered company, which is 100%-owned by the investor. A couple can register one property together only if each of them invests at least €250,000: for example, if the couple buys property for €500,000.
If the property was purchased before 2014, it can be counted as an investment under the program as long as it cost at least €250,00 at the time of the purchase or submission of documents for a residence permit.
|Purchase of real estate||€250,000|
|Fees, taxes, translation of documents, and lawyer and notary services when buying real estate||About 10% of the value of the real estate|
|State fee||€2000 for an investor, €150 for each adult family member|
|Medical insurance||€300 per person|
Get an individual calculation for your family with all associated costs and government feesMake an individual calculation
Greece also offers a residence permit for financially independent persons, which does not require investment: the applicant only needs to receive income of at least €2,000 per month and place €24,000 in a Greek bank account.
|Residence permit by investment in real estate||Residence permit for financially independent persons|
|Requirement for long-term type-D visa||No||Yes|
|Compulsory residence||No||At least 183 days a year|
|Period of validity of the residence permit||5 years||2 years|
Our certified Anti-Money Laundering Officer conducts a preliminary Due Diligence check. It allows us to spot potential problems and reduce the risk of a residence permit application being rejected to 1%.
We sign an agreement with the investor only after this preliminary Due Diligence check. If we find there is a risk of our client’s application being rejected, we offer an alternative solution: for example, we clarify the situation in an affidavit or choose another program.
Immigrant Invest’s real estate experts help the investor find a suitable property. Then we proceed to the conclusion of the sales contract.
A lawyer acts on behalf of the investor in Greece; thus, the first step is to sign a power of attorney. It can be signed at a Greek bank or remotely: the power of attorney is apostilled and sent to Greece. The investor’s lawyer uses the power of attorney to obtain an individual taxpayer number for the investor, then checks the legality of the transaction and prepares documents together with a notary.
The purchase and sale agreement can be signed by the investor or their lawyer. The lawyer then submits the contract for registration in the Real Estate Register and receives a certificate of registration. The buyer is sent the full package of documents for the property with an officially certified translation.
The documents are prepared simultaneously with the selection and purchase of real estate. The investor receives medical insurance, then provides the lawyers with documents and photographs. Immigrant Invest lawyers fill out government forms, translate documents and certify copies, help pay fees and duties.
The documents are submitted to a specialized department of the Ministry of Immigration and Asylum. The application is submitted personally by the investor, his spouse, an adult relative or a lawyer by power of attorney. Upon submission, a certificate is issued that allows you to stay in the country for one year.
Biometrics are handed over on the day of application. If the investor could not come to Greece, and the lawyer submits the documents for him, the biometrics are scheduled for the next day. The residence permit card is not issued without biometric data.
To travel to the country, you will need a tourist visa if the investor has bought real estate, or a D visa if invested under another option.
An application for a Greek residence permiti takes a period of 1-2 months to be reviewed by the government department.
An investor can obtain a residence permit card themselves or entrust a lawyer to obtain it for them. Upon receipt of the documents for a residence permit, the investor’s foreign passport is presented and a certificate of submission of documents for a residence permit is returned.
A residence permit in Greece is issued for a period of five years, after which it can be renewed. The application and the package of documents are submitted within two months prior to the expiration of the card. Investors planning to renew their residence permit cannot sell their property.
Five years after receiving a residence permit, the investor can apply for permanent residence. However, they need to have lived in the country for all five years. They cannot leave Greece for more than six months in a row or ten months in the entire five-year period.
After obtaining a Greek residence permit, the investor may decide to become a tax resident, buy another property, extend their residence permit card or obtain permanent residence. Below we outline the ways in which we can help.
We help investors renew their residence permit after five years.
We inform you about the terms and conditions, prepare a package of documents and help you submit your application.
We help obtain a residence permit for the spouse, children and parents of investors.
We help our clients become tax resident in Greece and take advantage of the benefits this offers, provided that they spend at least 183 days a year in Greece.
We prepare the application for a replacement and accompany the process until a new residence permit card is issued.
Preparing the necessary documents, filling out forms.
We help you choose an apartment or buy a property under construction. We follow the sale from start to finish.2
Schedule a meeting in one of the offices or online. A lawyer will analyze the situation, calculate the cost and help you find a solution based on your goals.
An adult investor with legal income and no criminal record. Only non-EU citizens can participate in the program.
Together with the investor, the residence permit is obtained for their spouse, children under 21 years of age and parents. Instead of a spouse, the investor’s partner can participate in the program on condition that the couple has signed a cohabitation agreement and registered it in Greece.
The minimum investment for a Greek residence permit by investment is €250,000. The applicant can buy residential or commercial real estate, land, rent a hotel or conclude a timeshare agreement.
The investor also has the option to participate by investing €400,000 in economic activities: for example, by buying stocks or bonds. However, in this case, it is more difficult to obtain a residence permit, because in order to travel to Greece, the applicant will have to obtain a type-D visa. Applicants who invest in real estate can travel to Greece on a tourist visa.
No, you can rent a hotel, sign a timeshare agreement for 10 years, or open a deposit account at a Greek bank. Applicants also have the option to invest in stocks, bonds or shares in investment funds.
Yes. All investments, except for the cost of renting real estate, can be returned in 5-7 years, after the investor receives permanent residence.
The rules of the program allow renting out real estate and earning income on it during ownership of the property.
To obtain a residence permit in Greece, an investor needs to visit the country to open a bank account and take their biometric data. The rest of the procedure can be fulfilled by the investor’s lawyer based on a power of attorney: they can sign contracts for the sale and purchase of real estate, submit documents for participation in the program and receive residence permit cards on behalf of their client.
To become a Greek citizen, the investor needs to live in the country for seven years. After five years of residence, they can get permanent residence, and after another two years they can apply for citizenship.
Written exam on knowledge of the language. All applicants for citizenship by investment take an exam on the culture, history, geography and government of the country. Also, they should have a no-criminal-record certificate and they cannot have been deported from Greece.