Renewal Terms
The residence permit shall be renewed every five (5) years. To renew the residence permit, the following conditions must be met:
- The real estate property must remain in the full ownership of the applicant.
- The relevant leases/contracts must be ongoing.
Absences from the country do not impede the renewal of the residence permit. The resale of the real estate property, during the period when the residence permit is valid, to another third country citizen provides to the new owner the right to a residence permit along with a simultaneous revocation of the seller’s residence permit.
