Residence Permit
Real Estate Purchase & Residence Permit in Greece
For investments up to €250,000 a 5-year permit for residence in Greece with the right to move freely within the Schengen Area
- Total investment amount of €250,000, with the option to purchase one or more properties
- 5 + 5 years of residence in Greece and within the Schengen Area for foreign investors
- 3% property transfer tax
- Option to purchase leased real estate for rental returns
Since 2013 Greece has offered citizens of third countries permits to reside in the country for five years by purchasing one or more properties of total minimal value €250,000. The residence permit can be renewed every five years, for as long as the investor retains possession of the property. This particular type of residence permit also provides the right of free movement within the Schengen Area along with the right to reside in any other country of that area for up to three months in any six-month period.
The advantages of this type of residence permit include the following:
- Once the permit has been granted, it is not necessary for the foreign investor to reside permanently in Greece.
- The property may be leased, which means the purchaser may choose to buy commercial real estate or property that is already being leased and have the additional benefit of the returns.
- Buyers have the option of purchasing a number of smaller, less expensive properties, provided the total value is at least €250,000.
- Another plus is that property transfer tax in Greece has been reduced to 3%. By purchasing real estate in Greece of total value €250,000, foreign investors enjoy the following privileges:
- The right to reside in Greece not only for themselves but for all family members too (spouse and children up to the age of 20) for a period of five years, with the right to renew the permit for a further five years for as long as the real estate remains in their ownership.
- The right to move freely within the Schengen Area and to reside in another state in that area for up to three months in any six-month period.
- Access to the Greek social security and education systems, with the same rights as any Greek citizen.
- Although the permit does not provide access to the labor market, foreign investors are entitled to hold shares and serve as administrators or chief executives of Greek companies.
You can download or see a presentation about “Golden Visa” by clicking here.