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Residency permission

Permanent Residency permission (or “Golden visa”) and possibility of further extension to Greek citizenship

The law for Greek Residency permission or so-called “Golden Visa” (law 4251/2014, further amended by the law 4332/2015, valid from July 2015) offers possibility to obtain permanent Residency permission to non-EU citizens and their family members, who buy property in Greece if its value exceeds 250.000 EUR (which, compared to other countries, is one of the lowest in Europe).

The above described Residency permission is originally issued for 5 years and can be renewed afterwards, as long as the real estate property remains entirely at the ownership of the main applicant. Periods of absence from the country do not constitute reason for refusal.

The property owner/main applicant may be accompanied by the members of his/her family. Family members may be granted a personal Residency permission that is renewed and/or expires concurrently with the Residency permission of the property owner/main applicant. Family members are: spouse, children up to 21 years old, applicant’s parents, spouse’s parents.

After seven years of continuous residency the property owner and his family may apply for Greek citizenship.

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Main points of the this law are:

• Minimum invested amount of 250,000 Euros per family.
• The investor has legal rights to apply for both permanent residency permit and citizenship.
• The investor may offer residency privileges to all family members: spouse, children (up to 21 old), parents and spouse’s parents.
• The investor may establish his/her own business in Greece.
• There is no need for the investor or the family members to stay in Greece permanently to maintain the residency rights.
• The Residency permit holders can travel freely to all Schengen countries. They can also travel directly from their country of origin without the need to come to Greece first.

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