Table of Content
Overview
Greece introduced a system in 2014 to grant residence permits to foreigners. Initially, this benefit was limited to specific groups ((L. 4251/2014 G.G. A 80), but it was expanded in 2019 to include a wider range of individuals.(L. 4605/2019)
General Scope
- The application process is streamlined, requiring minimal paperwork and only one visit to Greece.
- There are no restrictions on how long residents must stay in the country.
- Greek authorities do not require information or approval from the applicant’s home country.
- There is no need to involve Greek consulates abroad. Applicants can apply for a tourist visa and then submit their residence permit application upon arrival.
- Obtaining a residence permit does not result in additional taxes.
- Residents have access to public healthcare and education.
- The permit can be extended to family members, including spouses, children under 21, and parents.
- The initial permit is valid for five years and can be renewed if the required conditions are met.
- After seven continuous years of residency, individuals may apply for Greek citizenship.
Eligibility Criteria (Real Estate)
To qualify for a residency permit through property ownership:
- The Greek property market has experienced significant growth.
- Greece offers a competitive residency program compared to similar options in other European countries.
- Property owners can generate income through long-term or short-term rentals.
- The property requirement can be fulfilled by owning one or multiple properties, or by multiple individuals sharing ownership of a single property.
- Companies can own property, and shareholders may be eligible for residency permits.
- Property owners have full rights, including ownership of the land.
- There are no additional property taxes for foreign owners.
- Greece boasts a long-standing property law system providing robust legal protections.
Eligibility Criteria (Financial Contribution)
To qualify for a residency permit through a financial contribution:
- Greece maintains a stable banking system with a limited number of major banks.
- Banks offer a range of financial products.
- The financial contribution required is notably lower than similar programs in other European countries.
- There are no additional taxes beyond a standard 15% profit tax withheld by the bank.
- Individuals have complete freedom to transfer funds without restrictions.
- There are no additional fees or costs associated with the program.