Greek residence permit

24.11.2023

Grounds for obtaining a residence permit

• Investment in real estate.

What gives a residence permit in Greece?

1. Movement in the Schengen countries without a visa.
2. Stay in Schengen countries without time limit.
3. Obtaining a Greek residence permit by the children of the main investor until the age of 21. 
4. Oportunity to open accounts and keep funds in European banks.

Terms of the procedure

• 3-6 months.

Costs of obtaining a residence permit

The approximate cost of obtaining a Greek residence permit will be from ~ 280,000 euros.

1. 250,000 euros - the minimum value of real estate.
    
2. Tax of ~10%, which includes:
   • 3.09% - tax at the conclusion of the sale contract.
   • 1% -1.24% - notary fee.
   • 1%-2% - registration fee.
   • 2.5%-5% - agency fee.
      
3. 2000 euros for the main applicant, and 150 euros for each adult family member - state fee.
    
4. From 300 euros per person - health insurance.

Property Requirements

1. Residential properties that are ready for occupancy. Properties under construction or commercial real estate are not suitable. You will be able to apply for a residence permit only after the object is completed and put on the cadastral registration.
    
2. The cost of real estate is not less than 500 thousand euros in the municipalities of Thessaloniki and Athens, as well as on the islands of Santorini and Mykonos. In other regions - not less than 250 thousand euros. The amount must be paid in a lump sum at the time of the transaction.
    
3. The applicant's own money should be used for the purchase, not credit funds. 

Features of the Greek residence permit

1. Citizens of Russia and Belarus may apply for a residence permit only if the main applicant has citizenship of another state. Co-applicants (spouses/children/parents) can get a residence permit if they have citizenship of Russia or Belarus.
    
2. Under this type of residence permit there is no right to work in Greece. But passive income is allowed, in particular - renting out real estate.
    
3. The primary residence permit is issued for 5 years. To extend the residence permit is not necessary to reside in Greece, it is enough to have purchased real estate.
    
4. After 5 years it is possible to apply for permanent residence, but for this purpose it is not allowed to leave the country for more than 6 months annually or a total of more than ten months.

Special tax regime

Greece offers investors can take advantage of a special tax regime whereby the investor can make a tax payment of 100,000 EUR on all income from other countries. This tax regime can be applied only to investors whose investment amounts to more than 500 000 EUR.

Obtaining Greek citizenship: it is possible after 7 years after obtaining a Greek residence permit. For this purpose it is necessary to reside legally in the country for at least 6 months every year, as well as to pass a test on the knowledge of Greek culture and the Greek language.

How we can be helpful

1. Preparing and organizing the collection of necessary documents in the territory of the applicant's current citizenship.
    
2. Obtaining a residence permit.
    
3. Recommendation of realtors for the selection of real estate.
    
4. Supporting the conclusion of the contract of sale of real estate and registration of the contract.
    
5. Support of renting out the purchased real estate.

To obtain the service of registration of residence permit in Greece you can contact the specialists of the Private clients direction of REVERA company by e-mail y.zadesenskaya@revera.legal.

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