FAQ | Greek residency - Investment immigration

The Greek residency program


The-Greek-Residency-program

FAQ



The Schengen Agreement led to the creation of Europe's borderless Schengen Area in 1995.

The treaty was signed on 14 June 1985 near the town of Schengen in Luxembourg. It proposed the gradual elimination of border checks at the signatories' common borders allowing residents in border areas to cross borders away from fixed checkpoints and the harmonisation of visa policies.

The Schengen Area operates very much like a single state for international travel purposes with external border controls for travellers entering and exiting the area, and common visas, but with no internal border controls.

It currently consists of 26 European countries covering a population of over 400 million people and an area of 4,312,099 square kilometres.
Your children have access to both state and private schools and universities.

There are a lot of available options, offered in a variety of languages.

They also have access to European universities as every other Greek resident.
You can be granted permanent residency permits in Greece for you and your family, upon purchasing a property as an individual, with a contractual value of 250.000 Euros or higher.

After seven years of continuous residency you may apply for Greek citizenship.

You may also purchase the property through a legal entity if you are the sole stockholder of the entity.
Only spouses can share the investment and jointly own the property of total value 250.000 Euros.

In all other cases of shared ownership, the right of residence is granted only if the amount invested by each co-owner is a minimum 250.000 Euros.

Example : Two families can have two separate permits for all members if they purchase jointly a property of value equal or higher to 500,000 Euros
The first thing to do is to arrange a trip to Greece to view the properties and learn about the required formalities.

During your stay we can do practically everything within 4 working days (should you be in the position to decide). We will answer all your questions regarding the program and present your obligations as a property owner in Greece.

In brief what we do during your stay is :
  • We visit the properties.
  • We Issue tax id number.
If you decide to proceed further :
  • We open a local bank account.
  • We sign a power to attorney document, which gives us the right to represent you with the Greek public authorities.
  • You sign a property purchase pre-agreement with the property seller. A 10% deposit is required to secure the transaction. This amount can be transferred after you return to your country.
  • After we receive the deposit we transfer the property to your name.
  • We register your name as the new owner at the local land registry authorities.
  • Then we apply for the residency permit(s).
The rest we can do on your behalf. You don’t need to be in Greece. All payments will be performed from your Greek bank account after you transfer the required funds.

We follow up the whole procedure closely and we report to you at every step.
In order to visit Greece you will need to issue a Schengen visa from the Greek embassy in your country.

To issue an investor's visa you will need to show enough funds to cover the minimum investment amount of 250,000 Euros.

If you travel from IRAQ you must apply in Baghdad. You will be required to visit Ankara or Istanbul for the interview.

If you travel from AFGHANISTAN you must apply in Islamabad (Pakistan).

SYRIAN citizens that reside in Syria have to apply to the Greek embassy in Beirut (Lebanon).

To read detailed info on the visa application requirements click here
Yes, there is a property transfer tax paid to the government. The tax is based in the net property value and is equal to 3,09%. So a property of value 250,000 Euros is charged with tax of 7,725€.

You will also be charged for legal, notary and service fees. The total amount charged is approximately 5% to 6% of the property selling price.

We offer a No hidden costs guarantee. Every customer receives a detailed cost breakdown before any commitment.
Yes. You are entitled to residency rights irrespective of whether you own one or more properties, commercial and residential, provided that their combined value is equal to or greater than €250.000.
Together with the main investor the following family members can be included in the group residency permit :

- Spouse
- Children up to the age of 21
- Main investor's parents
- Spouse's parents

All family members are granted permanent residency permit, renewed every five years as the main investor.
We do. It is part of our services portfolio to handle all the necessary paperwork on behalf of the applicant:
- The application process for the initial residence permit,
- the submission of any additional required documentation
- and finally the collection of the receipt of the residence permit.

We also deal with all aspects regarding the purchase of the property.

As soon as you submit the residency application you will receive a confirmation receipt that serves as a one year provisional residency permit. You can reside legally in the country for the duration of the confirmation receipt (one year) and you are entitled to all the benefits of the final permit. In the mean time (two to four months) you will receive the final residency permit certificate.
Definitely not but we have the means to do it fast and effectively. Our fee is money well spent.
Basically, it’s proof of purchase for the property or the lease contract, and health insurance that will cover your medical expenses if needed. You may obtain the insurance coverage in Greece from a local company.
The residency permit is permanent. The only criterion is the property ownership.

The permit is renewed every five years indefinitely.

Children who reach the 21 year are considered adults and cannot be part of the group family permit. The law allows them to extend their permit for 3 more years and have access to the employment market.
Holders of this type of residency permit are allowed to setup their own business in Greece.

They are not allowed to work under any type of employment.
Yes. After seven years of continuous residency the permit holders may apply for Greek citizenship.
[law No. 4332/2015, Greek Government Gazette Number 76 A’, July 2015]

For the citizenship eligibility there are certain criteria to be met :
- Knowledge of Greek language. Knowledge of Greek history and elements of civilisation.
- The applicant must live in Greece for most of the time before the application.

With the approval of the application the investor receives:
- Greek – European Union passport
- Voting rights
The holders of the residence permit have access to public education, in the same way as Greek citizens.

There is a variety of state and private schools and universities with multilingual syllabus.

They have also access to the Greek public health system.

Residence permit holders and their family members, must also have private insurance policies that covers their healthcare and medical care expenses.
Yes, under the specific regulations of the Ministry of Transport, which apply to non EU citizens.
You may travel with your passport and the residency permit to all countries that are part of the European Union, as well as, to all countries that belong to the Schengen Area:

Austria, Belgium, France, Germany, Denmark, Estonia, Spain, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Hungary, Poland, Portugal, Slovakia, Slovenia, Sweden, Czech Republic and Finland.

You may also travel to these Non-EU countries that belong to the Schengen Area:

Iceland, Norway, Switzerland and Liechtenstein.

Please note that after the residence permit has been issued, you may also travel to any Schengen country directly from your country. You do not need to go through Greece first.
First, let’s point the difference between leasehold and freehold.

Freehold is where the property is fully owned for an unlimited period of time.

Leasehold means a person has the right to use a property for a set period of time, subject to the payment of an annual ground rent as specified by the lease. At the end of the term, the property reverts back to the freehold owner. The lease in some cases may be granted for up to 999 years.

ALL properties in Greece are freehold.
You file an annual tax report. All property owners must do that.

You will pay a yearly property tax. For a standard 3 bedroom flat in downtown Athens the annual tax is approx. 500 Euros. Greek real estate ownership is the cheapest in Europe.

If you rent your property you will pay approx. 11% as income tax.

Our company will cover you in full for these services
We offer all kinds of services to support your investment.

- We will take care of the rental procedure.
- We will file your annual tax report.
- We will pay all taxes and possible maintenance expenses.
- We will represent you with the Greek authorities.