By decision of the Coordinator of the Decentralized Administration, a residence permit is granted for five (5) years, with the possibility of renewal, to a third country citizen, who:
a) Has entered the country legally with any entry visa or resides legally in the country, even if the residence permit he holds does not allow a change of purpose.
b) It has, by full ownership of the property in Greece.
The minimum value of the real estate at the time of its acquisition, as well as the total contractual rent of the leases of hotel accommodation or tourist residences, as it results from the notarial deeds of transfer, is set at two hundred and fifty thousand (250,000) euros and must have been paid in full before the submission of the application for the permanent residence permit.
In case of indivisible ownership of a property, acquisition value the right of residence is granted, only if the co-owners are spouses or partners who have concluded a cohabitation agreement. Otherwise, the right of residence is granted only if the percentage of each co-owner is at least equal to the value defined of two hundred and fifty thousand (250,000) euros .
c) Has full ownership and prefecture of real estate in Greece, through a legal entity established in Greece or another EU member state, whose shares or corporate shares are wholly owned.
d) Has concluded a long-term contract for a complex tourist accommodation.
e) Acquired by full ownership and prefecture as an unsecured or by will heir or as a result of parental benefit, real estate with an objective value of two hundred and fifty thousand (250,000) euros, and is an adult.
Τhe documents required for obtaining this residence permit are following:
1)Application
2)Four (4) recent color photographs in physical format, the technical specifications of which are the same as those of passports, as they apply each time, as well as in digital format on optical storage disk (CD) in the form of JPEG2000 graphics.
3) Certified copy of a valid passport or travel document recognized by Greece with the valid entry visa.
4) Fee for printing a residence permit in the form of a stand-alone document, amounting to 16 euros.
5) Payment in the form of electronic payment in accordance with the provisions of article 132 of law 4251/2014 and article 38 of law 4546/2018 (101 AD), where required.
6) Insurance contract of a private insurance company which will cover all the risks and the amount of covered benefits, as defined in the decision issued by authorization of the provisions of par. 3 of article 136 of n. 4251/2014.
7) Certificate of the notary who drafted the notarial deeds of transfer or the lease agreements of indent 2 of paragraph B of Article 20, certifying the details of the parties, the details of the property, the manner of payment of the agreed price or rent and all the specific details of the payment.
8) Notarial contract for the purchase of real estate.
9) Certificate of registration of notarial contract for the purchase of real estate from cadastral office.
10) Document from cadastral office that certifies the absence of encumbrances.
11)Birth certificate with apostille stamp
The abovementioned third-country citizens may be accompanied by members of their family, who will be issued, upon application, an individual residence permit, the validity of which will expire at the same time as the residence permit of the family guardian.
Family members are:
A) spouse,
B) the direct descendants of the spouse or other spouse, under the age of 21 years.
C)Parents of the spouses.
The abovementioned residence permit may be renewed for an equal period, each time, under the condition the immovable property remains in the ownership and possession of the third-country citizen and other requirements of the law are complied with. The intervals of absence from the country are not an obstacle to the extension of the residence permit. “The resale of property during the period of validity of the residence permit to another third-country citizen gives the right to obtain a residence permit to a new buyer, with the simultaneous cancellation of the seller’s residence permit.”
