Residence permits in Greece constitute all kinds of certification which is provided by the Greek authorities and based on it, a third-country citizen is allowed to legally reside in the Greek Territory, in accordance with the European Union provisions (Regulation 1030/02, as in force).
Tsiligiris Constructions & Real Estate Development can effectively undertake the process of investing and issuing visas from the beginning to the end.
WHY CHOOSE GREECE
- Greece is a member of the Schengen Convention
- Acquisition of the European visa, at low cost
- Unique investment opportunity
- The Mediterranean climate
- The strategic position
- The long tradition of hospitality to immigrants
- There is no minimum residence requirement
- Access to tertiary education
- Greek gastronomy
- Beautiful natural environment
- The birthplace of Western civilization
- A destination for everyone
- Health services
- Safety
Our know-how is the presentation-proposal of real estate properties to citizens of non European Union countries who intend to acquire real estate in Greece in order to benefit from law, offering a residence permit in the country for those wishing to spend at least 250,000 euros for real estate.
Along with the selection process, we offer a wide range of services that provide substantial support to our customers before and after the purchase of the property. Thus, we ensure the best service of our customers, helping them for their smooth integration into the Greek way of life.
Tsiligiris Constructions & Real Estate Development provides a brief overview of the relevant legislation to foreign citizens who seek to acquire real estate in Greece.
Our qualified staff can assist you in issuing a residence permit and complete the required steps of each transaction with minimum effort.
We are at your disposal for any relevant inquiries regarding Greek legislation and transaction procedures required for real estate.
Different categories of residence permits exist, as well as different types of permit within each category. Employment rights depend on the type of permit issued. Applications for the granting and renewal of residence permits are submitted directly to the municipality or the relevant authority of the Aliens and Immigration of the Decentralized Authority in the applicant’s place of residence, apart from certain specific types of residence permits for which applications are submitted to the Department of Migration Policy at the Ministry of Migration Policy. Residence permits for real estate owners and who they apply to. A residence permit for real estate owners is a new type of residence permit, for third country citizens who have entered the country legally on any kind of visa (type C or D) or are legal residents in the country, even if the residence permit they hold does not allow for change of residence scope. Beneficiaries of the right of entry and the permanent residence permit, which shall be renewed every five (5) years, are: a) third country citizens who own real estate property in Greece, either personally or through a legal entity of which they own the total of the company shares, provided the minimum value of the property is €250.000; b)third country citizens who have signed a timeshare agreement (lease) – for a minimum of 10 years – for hotel accommodations or furnished tourist residences in integrated tourist resorts according to article 8, paragraph 2 of Law 4002/2011 (Government Gazette 180 A’), provided the minimum cost of the lease is €250.000.
Third country citizens who either reside legally, with a residence permit, in Greece, or wish to enter and reside in the country, and who have full ownership and possession of real estate property in Greece, which they have purchased before the enactment of law 4146/2013, provided that they had purchased the real estate property for a minimum of €250,000 or the current objective value of their real estate property is at a minimum of €250,000; d)third country citizens who fully and legally own real estate property in Greece, the minimum value of which is €250,000, and which they acquired through a donation or parental concession. The right to a residence permit in this case can only be exercised by the receiver of the donation or parental concession. e) third country citizens who purchase a plot of land or acreage and proceed to erecting a building, provided that the cumulative value of the land purchase and the contract with the construction company is at minimum €250,000. f) third country citizens who have signed a ten-year timeshare agreement (lease), based on the provisions of Law 1652/1986. A time share lease, according to the provisions of article 1 of law 1652/1986 is the commitment of the lessor to grant, each year, to the lessee, for the duration of the timeshare, the use of the tourist accommodation and to provide to them the relevant services for the determined period of time according to the contract, and the lessee must pay the agreed rent. g) family members of the third country citizens described above.
Preconditions for a residence permit for real estate owners in Greece
The following conditions must be fulfilled to receive a permanent residence permit of investor, which shall be renewed every five (5) years:
a) The real estate property must be owned by and be in possession of its owners.
b) In cases of joint ownership, where the value of the property is €250.000, the residence permit is only granted if the owners are spouses with undivided ownership of the property. In all other cases of joint ownership, the residence permit is only granted if the amount invested by each of the joint owners is at least €250.000.
c) If the owner has acquired the property through a legal entity, the applicant must own 100% of the company shares.
d) The residence permit is also granted in cases where the third country citizen is the owner, either directly or through a legal entity, of more than one real estate property with a combined value of at least €250.000.
e) In cases where the applicant wants to enter the country with a type D visa, the documented intention to own property should be supported by documentation which prove the financial capacity (e.g., certificate of an A-class certified bank, or other recognised financial institution), which certify the existence of bank accounts or other mobile assets, such as bonds or shares, which can cover the cost of the investment of at least €250.000, and which certify the intention of the applicant to purchase the property (contract with a law firm or with a real estate office).
f) In the case of third country citizens who have signed a lease of at least 10 years for hotel accommodations or furnished tourist residences in integrated tourist resorts, provided the minimum value of the lease is €250.000, the contract must require a single payment of the lease for the equivalent of the ten year leasing of the property.
According to the law, family members of third country citizens entering the country are:
a. Spouses.
b. The direct descendands of the spouses, who are under the age of 21.
c. The direct relatives of the spouses in the ascending line.
In all cases outlined above, the value of the real estate property will be determined based on the value of the property, or the lease, indicated in the contract of purchase. The value of the property, according to law 4251/2014, is the amount stated explicitly on the contract which has been submitted for the purchase of the real estate property. The objective, or assessed, value of the property is not relevant, unless it corresponds to the amount which was, according to the contract, paid for the sale of the property.
Entry Visa requirement to obtain a residence permit for real estate owners.
An entry Visa, that is, legal entry in the country, is necessary to obtain a residence permit for owners of real estate property. Following the issuance of a residence permit, and for its duration, there is no need for a Visa. Pursuant to Law 4251/2014, any third country citizen who has entered the country legally holding a visa of any type or is a legal resident of the country irrespective of their status or type of residence permit, has the right to apply for a residence permit.
Duration of the residence permit for real estate owners. This residence permit is permanent.. The holder of the residence permit is however required to renew it every five (5) years. Renewal of residence permits for owners of real estate – Preconditions. The residence permit shall be renewed every five (5) years. To renew the residence permit, the following conditions must be met: The real estate property must remain in the full ownership of the applicant. The relevant leases/contracts must be ongoing. Absences from the country do not impede the renewal of the residence permit. The resale of the real estate property, during the period when the residence permit is valid, to another third country citizen provides to the new owner the right to a residence permit along with a simultaneous revocation of the seller’s residence permit.
The process for the issuing of a residence permit for real estate property owners
Step 1: Issuing an entry Visa for Greek Territory The interested party must submit an application for an entry visa to the Greek consulate authority in their country of origin.
Step 2: Collecting the documentation for the issuing of the residence permit Applicants for a residence permit for real estate owners, valued at €250.000, must provide the following documents: Application form. Two recent colour photos. Certified copy of a valid passport or travel documents recognised by Greece and with the relevant valid entry visa, where required. A fee paid and obtained through the “e-paravolo” platform according to provisions of Law 4251/2014 article 132, which amounts to €500 for residence permits of up to a five year duration. There is no fee requirement for infants children. (under 18 years old)
Depending on the specific case, the following documentation may need to be submitted in addition to the above:
- Residence permits for third country citizens who own and posses, either wholly or jointly, property in Greece. A contract of purchase stating that “the contract of sell and purchase of the property is not subject to conditions or exemptions, the total price amounts to ….. which has been paid in full with a crossed bank cheque or bank transaction” and a proof of transfer of the contract by the competent Land Registry. Certification of an insurance institution to cover the costs of hospitalization and medical care. In order to prove the fulfillment of this condition, the following are acceptable: – Insurance contracts concluded abroad where they expressly state that they cover the person concerned while he resides in Greece. – Insurance contracts concluded in Greece.
- Residence permits for third country citizens who own property in Greece through a legal entity, where the applicant owns all shares A contract of purchase stating that “the contract of sell and purchase of the property is not subject to conditions or exemptions, the total price amounts to ….. which has been paid in full with a crossed bank cheque or by deposit of a bank transfer to the beneficiary’s account held with a bank in Greece or a credit institution under the supervision of the Bank of Greece, the specific details of which shall be solemnly declared by the parties before the notary who draws up the contract and written in it” and a proof of transcription of the contract by the competent Land Registry. Certification of an insurance institution to cover the costs of hospitalization and medical care. In order to prove the fulfillment of this condition, the following are acceptable: – Insurance contracts concluded abroad where they expressly state that they cover the person concerned while he resides in Greece. – Insurance contracts concluded in Greece.
- Residence permits for third country citizens who have a lease – for a minimum of 10 years – for hotel accommodations or furnished tourist residences in integrated tourist resorts Notarised copy of the lease for the hotel accommodations or furnished tourist residences in integrated tourist resorts, which demonstrates a single payment of €250.000 and includes a mention of the granting of the relevant operation licence by GNTO (Greek National Tourism Organisation) Proof of title transfer from the land registry where the relevant lease contract has been transferred.Certification of an insurance institution to cover the costs of hospitalization and medical care.
- Residence permits for third country citizens who have purchased real estate property in Greece before Law 4146/2013 came into effect: If the payment submitted before Law 4146/2013 came into effect is smaller than two hundred and fifty thousand euro (250,000) but the current objective (assessed) value of the real estate property exceeds or is equal to this amount, a certification by a notary must be included in the documents that are submitted, stating: “From the verification of the contract with number .for the purchase of real estate property, it can be concluded that the full payment of the cost of the real estate property has been completed, it no longer has any conditions, exemptions or deadlines, and the objective (assessed) value of the real estate property as it stands today is equivalent to the amount of …..”. In this case it is also necessary to submit the contract of purchase for the real estate property or properties, the value of which is at minimum €250,000, and a proof of title transfer from the land registry where the relevant contract has been transferred.
- Residence permits for third country citizens who purchase plots of land or acreage and erect a building. The following additional documents must be submitted: i. contract for the purchase of the plot of land or acreage, and ii. contract with the construction company for the erection/restoration of the residence, which has been submitted to the tax office according to the law iii.building permit in the name of the applicant iv.invoices by the contractors and the corresponding proofs of payment.
- Residence permits for third country citizens who have a timesharing lease of at least ten year duration, for hotel accommodations or tourist furnished accommodations in integrated tourist resorts. The following additional documents must be submitted: i. contract for the timeshare of at least ten years duration, which states the exact amount to be paid every year. ii. Proof of title transfer from the competent land registry iii. certification by the Greek National Tourism Organisation that they have been informed of the establishment of this timeshare lease.
- Residence permits for family members of the third country citizen. Certification of an insurance institution to cover the costs of hospitalization and medical care. In order to prove the fulfillment of this condition, the following are acceptable: – Insurance contracts concluded abroad where they expressly state that they cover the person concerned while he resides in Greece. – Insurance contracts concluded in Greece. • Recent certificate of marital status of foreign authorities, from which the relative bond is derived.
Procedure for residence permits for family members. According the information above, third country citizens can be accompanied by their family members, who will be granted the appropriate entry Visa. Members are:
α. Spouses.
β. The direct descendants of the spouses, who are under the age of 21.
γ. The direct relatives of the spouses in the ascending line.
Family members are not obliged to submit their application for initial residence permit simultaneously with the investor, they have the option to submit it subsequently, whenever they enter the country. These family members are issued with a residence permit of the same duration as the applicant, but this permit does not include access to employment. The children of the applicant, who have been originally admitted to the country under the terms and requirements of residence permit for property owners, are issued with a residence permit for family reunification until the age of 21. After that, it is possible to acquire a renewal as an independent residence permit until they reach the age of 24 and then it is possible to renew it further according to pertinent immigration legislation.