FAQs

I am a third-country citizen and have in my possession, or wish to acquire, real estate in Greece, as a natural person. Am I also able to issue a residence permit? Yes, you are; as long as the value of the property (as described on the purchase contract) is at least EUR 250 000, then you have the option of obtaining a five-year residence permit. This permit may be renewed for an additional five (5) years each time, provided that the third-country national remains the owner of the property.   What is the relevant legislation providing for the possibility of obtaining a residence permit as a property owner? The relevant provisions on the possibility of being granted a ‘permanent residence permit of an investor’ (Property Owner) are set out in the following articles: Article 20, point B, of Law 4251/2014 (Government Gazette A’ 80), Article 8 (par. 26-30) and Article 14 par. 1, Law 4332/2015 (Government Gazette A’ 76)     How is the purchase price of the property paid? Paragraph 2(b) of Article 20B of Law 4251/2014 (Government Gazette A’ 80), as amended by Article 14(1) of Law 4332/2015 (Government Gazette  A’ 76) provides that ‘The purchase price shall be paid by means of a crossed check or by bank transfer to the account of the beneficiary,  whom is a beneficiary of a bank account at a Greek banking institution or with a credit institution supervised by the Bank of Greece, the details of which shall be declared by the parties to the Notary drafting the contract and shall be indicated thereon. The total amount of the property price should have been properly paid, i.e. in accordance with the above provisions, otherwise the third-country citizen, investor, cannot be subject to the provisions of Article 20B of Law 4251/2014, as applicable.   Which procedure should I follow? The procedure to be followed, whether you have already purchased the property or intend to purchase it, is as follows:  (a) You must first contact the Greek consular offices of your residence and apply for a entry visa (Type D or C where applicable). The general supporting documents required for the issue of a type C visa or type D visa shall be indicated on the website of the Ministry of Foreign Affairs at the following link: http://www.mfa.gr/theoriseis-eisodou-visas/.More specified supporting documents required for the issue of a national entry visa in the event that the purchase process of the property has not yet been initiated or has not yet been completed are described in the Common Ministerial Decree 68019/2015 (Government Gazette B’ 2272), in category C 3.2. concerning property owners. To view the relevant Decree, click here.  Should you be a third-country national from a country where the Greek authorities do not require the possession of an entry visa (for entry into Greece) in accordance with the provisions of Council Regulation (EC) No 539/2001 (type C visa), you have the possibility to enter the country by receiving the relevant stamp on your passport (‘entry stamp’) from the Greek border authorities.  (b) If you are provided with the entry visa or the relevant stamp on the passport (due to being exempt from a type C visa) you may enter Greece and apply for a residence permit immediately, if the procedures for the purchase of the property have been completed, or take the necessary steps to complete the purchase (investment). In any event, the procedures should be completed before the expiry of the entry visa or the period of validity of the stay in accordance with the Schengen rules, as the application for authorization must be made within the period during which you are legally present on Greek territory (before the expiry of the entry visa). For cases of nationals from third countries whose citizens, whether they have a visa requirement or are exempt from the obligation to hold it, see here.   What are the supporting documents necessary for the initial granting of a residence permit as a property owner? All required documentation can be found in the Common Ministerial Decree 68019/2015 (Government Gazette B’ 2272), in category C 3.2. concerning property owners. This Decision can be found at the following link: http://www.ypes.gr/UserFiles/f0ff9297-f516-40ff-a70e-eca84e2ec9b9/FEK2272-211015.pdf The initial supporting documents in order to be granted residency as a property owner are as follows:  Four (4) recent colour photos in physical form, the technical specifications of which are the same as those of passports as applicable, in addition to digital copies provided on an optical storage disk (CD) in JPEG 2000 graphics format,  A Certified copy of a valid passport (all pages),  A government issued administrative bond fee [e-paravolo] for the amount of five hundred euro (EUR 500) (code 4741),  A government issued administrative bond fee [e-paravolo] for the amount of EUR sixteen (16) for the cost of printing the document (code 4762),  An insurance contract, issued by an underwriter and which was either concluded in its country of origin with insurance cover in Greece, or is concluded in Greece with insurance cover as defined in the Common Ministerial Decree No. 53821/2014,  The purchase contract stating that ‘the contract for the sale of the property is not concluded under any conditions or contingent details, the total price of which amounts to …. and has been paid in its entirety by means of a crossed check or by bank transfer to the account of the beneficiary, whom is a beneficiary of a bank account at a Greek banking institution or with a credit institution supervised by the Bank of Greece.’ Lastly, evidence of the registration of the contract by the competent Land Registry or Notary attestation (if less than EUR 250 000 was paid at the time of purchase of the property but the present objective value of the property exceeds or is equal to that amount), upon which it must be stated, ‘From the inspection of No. ... property purchase contract, it is evident that the price of the property was paid in full and the contract is not concluded under any conditions or contingent details and time-limited and the objective value of the property as it stands is …….. This case relates to sales that took place before the adoption of the provisions of Law 4251/2014. With regards to the renewal of the residence permit, it should be proven that the property remains in the ownership and legal possession of the person concerned (‘ownership and possession’).   At which public authority must I apply for a “Permanent residence permit of an investor” (property owner)? The application shall be submitted to the one-stop service of the competent Directorate of the Decentralized Administration of the place of residence of the applicant. Applications for an initial residence permit, submission of additional supporting documents and the receipt of the residence permit or declined application or other documents from the file concerned may be submitted either in person by the third-country national or through a proxy.   Can the entire permit procedure (application & receipt of residence permit) be completed by a proxy lawyer? The applicant, third-country investor, may file the application through a proxy lawyer on the strict condition that the applicant has, within a reasonable time before the application for the residence permit, entered the Greek territory at least once. In addition, the applicant must, in any event, visit the Immigration Office, either at the time of the application or a later date (after a pre-booked appointment) for the submission of his biometric data with the Office, as such us required for the issue of the residence permit in the form of the stand-alone document (biometric photo, fingerprints, signature sample and copy of passport - the page including all personal details). For more information on the application and issuing procedures for the stand-alone document, you can find more information in Circular 7/2017 of the Directorate for Migration Policy of the Ministry of Migration by tapping here   Can I apply for a residence permit if I have purchased land and wish to build on that land or already own a building on the land? What documentation is needed? Yes, you may; the provisions of Article 20B of Law 4251/2014 allow so if the sum of the value of the purchase contract and the building contract is at least two hundred and fifty thousand (250 000) euro. In that case, the person concerned must provide the following documentation:  The purchase contract for the land, which indicates that ‘the contract for the sale of the land is not concluded under any conditions or contingent details, the total price of which amounts to ….’,  Registration proof from the competent Land Registry A building permit in the name of the interested party Invoices of the contractor concerned and the corresponding payment receipts  A construction agreement filed with the tax office  Four (4) recent colour photos in physical form, the technical specifications of which are the same as those of passports as applicable, in addition to digital copies provided on an optical storage disk (CD) in JPEG 2000 graphics format,  A Certified copy of a valid passport (all pages),  A government issued administrative bond fee [e-paravolo] for the amount of five hundred euro (EUR 500) (code 4741),  A government issued administrative bond fee [e-paravolo] for the amount of EUR sixteen (16) for the cost of printing the document (code 4762),  An insurance contract, issued by an underwriter and which was either concluded in its country of origin with insurance cover in Greece, or is concluded in Greece with insurance cover as defined in the Common Ministerial Decree No. 53821/2014 What about cases of a legal entities wishing to purchase real estate in Greece? Paragraph 1(c) of Article 20B of Law 4251/2014 (Government Gazette 80A) provides for the possibility of granting a residence permit as owner of a property to a third-country national who has full ownership and possession of real estate in Greece, purchased through a legal entity the shares of which are wholly owned by the person applying for residency.     Can I lease hotel accommodation in Greece and receive a residence permit as the owner of a property? What documentation is needed? Yes, you may. Paragraph 1(d) of Article 20B of Law 4251/2014 states that a third-country national shall be entitled to fire for a residence permit if he has entered into a timeshare contract in accordance with the provisions of Law 1652/1986 ‘Timeshare Agreements and Related Matters’ (A 167), as applicable. As regards the supporting documents, in addition to the general supporting documents referred to above, the following documents are also necessary:  A copy of a notarial deed for the lease of hotel accommodation or tourist furnished accommodation in tourist accommodation properties, showing the lump sum of EUR 250 000 paid and indicating that a relevant operating mark by the National Tourist Agency (EOT) shall be granted;  Proof of registration of the timeshare contract with a duration of at least ten years, indicating the price payable per year, at the relevant Land Registry A land registry certificate from the relevant department and an EOT certificate that the Agency has been aware of the drawing up of that timeshare,  Four (4) recent colour photos in physical form, the technical specifications of which are the same as those of passports as applicable, in addition to digital copies provided on an optical storage disk (CD) in JPEG 2000 graphics format,  A Certified copy of a valid passport (all pages),  A government issued administrative bond fee [e-paravolo] for the amount of five hundred euro (EUR 500) (code 4741),  A government issued administrative bond fee [e-paravolo] for the amount of EUR sixteen (16) for the cost of printing the document (code 4762),  An insurance contract, issued by an underwriter and which was either concluded in its country of origin with insurance cover in Greece, or is concluded in Greece with insurance cover as defined in the Common Ministerial Decree No. 53821/2014 All required supporting documents can be found in the Common Ministerial Decree 68019/2015 (Government Gazette B’ 2272), in category C 3.2. concerning property owners. You can find this Decree by tapping here   Can I bring my family members with me? What documentation is needed? The beneficiary, third-country national, may also be accompanied by the members of his family to whom, at their request, an individual residence permit expiring at the same time as the owner’s residence permit is issued. For the purposes of the law, family members are deemed as: (a) the spouse, (b) the direct descendants in a descending line of the spouse who are under 21 years of age, (c) the direct descendants in an ascending line of the spouse.  For children over the age of 21 and up to the age of 24 years, a residence permit issued by members of the family shall be granted on the basis of the provisions of Article 76 of Law 4251/2014.  The relevant supporting documents of family members shall be as follows:  Four (4) recent colour photos in physical form, the technical specifications of which are the same as those of passports as applicable, in addition to digital copies provided on an optical storage disk (CD) in JPEG 2000 graphics format,  A Certified copy of a valid passport (all pages),  A government issued administrative bond fee [e-paravolo] for the amount of five hundred euro (EUR 500) (code 4741) for the spouse, and for the amount of four hundred and fifty euro (EUR 450) for an adult child,  A government issued administrative bond fee [e-paravolo] for the amount of EUR sixteen (16) for the cost of printing the document (code 4762),  An insurance contract, issued by an underwriter and which was either concluded in its country of origin with insurance cover in Greece, or is concluded in Greece with insurance cover as defined in the Common Ministerial Decree No. 53821/2014.  In the case of entry into the country with a type C visa, a certified copy of a family status certificate is required in order to establish the family relationship. Where they have received a national entry visa from the competent consular authority, a declaration of compliance with their family status shall be required.   Am I entitled to apply for a residence permit as a property owner, in the case that I own more than one property? Yes, it is sufficient that the total of real estate owned, based on the market value indicated in the purchase contract, amounts to a minimum of EUR 250 000 and that the price, in all cases, has been properly paid.   Do I have the right to work provided I receive a residence permit of a property owner? The residence permit does not permit any form of employment in Greece. The concept of employment, however, does not include economic activity as a shareholder, a member of the board, or the Executive Director of companies established prior to the submission of the application for the residence permit. The above exception for the exercise of an economic activity also applies to third-country nationals holding the status of partner and the manager of any form of capital company (SA, LTD, PC).   Can I travel to the Schengen area by means of a visa or residence permit? In view of the principle of equivalence between residence permits and long-stay visas, as regards the free movement of the holder in Single Schengen area, any third-country national holding a long-stay visa issued by a Member State with a period of validity of up to one year may travel to other Member States for three months per six months, under the same conditions as the holder of a residence permit, whilst also having the right to multiple entries.