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.