Eligibility for Greek Residence Permit via Property Ownership
Q: I am a third-country national and I own, or I wish to purchase, property in Greece. Can I apply for a residence permit?
A: Yes. You may apply for a Greek residence permit for owners of real estate property, provided the value of the property, as stated in the purchase contract, is at least €250,000.
This residence permit (Article 20B, Law 4251/2014, as amended) can be renewed every 5 years, provided you remain the owner of the property.
Q: I already hold a 5-year “permanent residence permit for investors” as the owner of a €250,000 property. Can I sell the property and maintain my residence permit?
A: Yes. You may sell your property; however, to maintain your residence permit, you must purchase another property meeting the same requirements before selling the current one (Article 20B, Law 4251/2014).
Relevant Legislation
The relevant legal provisions for the “permanent residence permit for investors” include:
- Article 20B, Law 4251/2014 (Official Government Gazette A’ 80)
- Article 8, paragraphs 26–30 and Article 14, paragraph 1, Law 4332/2015 (Official Government Gazette A’ 76)
- Article 3, paragraphs 2–3, Law 4587/2018 (Official Government Gazette A’ 218 / 24.12.2018)
- Article 68, Law 4589/2019 (Official Government Gazette A’ 13 / 29.01.2019)
Payment for Property Purchase
According to Article 20B, Law 4251/2014, as amended by Article 14, paragraph 1, Law 4332/2015:
“The amount must be paid by a crossed cheque or via a bank transfer to the recipient’s account at a bank in Greece or a credit institution supervised by the Bank of Greece. Details must be declared before the notary public drafting the contract.”
The total amount must be paid in one of these ways to qualify for the residence permit.
Note: Law 4635/2019 allows Chinese investors to use payments via friends, relatives, or POS methods.
Application Procedure
Step 1: Obtain a Visa
- Visit the Greek Consulate in your country and apply for a visa (type C or type D, where appropriate).
- Visa requirements are available on the Greek Ministry of Foreign Affairs website.
- If you are from a visa-exempt country (Regulation (EC) 539/2001), you may enter Greece with an entry stamp.
Step 2: Apply for Residence Permit
- Enter Greece with the visa or entry stamp and apply for a residence permit after finalizing the property purchase.
- Applications must be submitted while your visa is valid. If the visa expires before the purchase is complete, you must leave Greece and reapply for a visa after three months (Schengen rules).
Required Documents for Residence Permit
To apply for a permanent residence permit for investors (Joint Ministerial Decision 68019/2015), you need:
- Two copies of the application form.
- Four recent color photographs (4×6 cm) in JPEG200 format on a compact disk.
- Certified copy of a valid passport or travel document with visa (if required).
- Residence permit electronic fee: €2,000 for the main applicant, €150 for each additional family member (minor children exempt).
- Cost of single document permit: €16.
- Private health insurance covering your stay in Greece.
- Proof of property purchase:
- Purchase contract stating the total amount paid via approved methods, proof of registration, and certificate confirming no mortgages.
- For pre-2013 purchases with assessed value ≥ €250,000, a notary certification confirming full payment is required.
Renewal: You must prove continued ownership of the property.
Competent Authorities
Applications must be lodged at the One-Stop-Shop of the Aliens and Immigration Department of the Decentralised Authority in your area of residence, either in person or via an authorized attorney.
Note: The applicant must provide biometric data in person (digital facial images, fingerprints, signature) according to EU Regulation 380/2007.
Special Cases
Constructing a Building
- Eligibility requires a plot of land and a contract with a construction company, with total value ≥ €250,000.
- Required documents include the land purchase contract, construction contract, building permit, invoices, and supporting documents as outlined above.
Legal Entities
- If a legal entity wholly owned by the third-country national owns property, the individual may apply for the residence permit (Article 20B, Law 4251/2014).
Timeshare / Hotel Lease
- Minimum 10-year lease for hotel or furnished tourist residences, ≥ €250,000.
- Required documents: notarial lease, registration, GNTO certificate, supporting documents as above.
Family Members
- Family members include spouse, children under 21, and direct ascendants.
- Children 21–24 may obtain an independent residence permit.
- Required documents: certified family status certificate, four recent color photographs, passport copies, electronic fees, private health insurance.
Multiple Properties
- Owning multiple properties is allowed, as long as the total value meets the €250,000 threshold and payments comply with the law.
Work Rights
- The residence permit does not grant employment rights (Article 20, Law 4251/2014).
- Economic activity as a shareholder or CEO is permitted only for companies established before the permit application.
Travel and EU Rights
- Permit holders enjoy Schengen area travel rights for up to 3 months in a 6-month period with multiple entries.
Long-Term Residence and Citizenship
- Permit holders may apply for long-term residence status under Article 8, Law 4332/2015.
- Long-term residence is a prerequisite for Greek citizenship via naturalization, if all other requirements are met.
