A residence permit for real estate owners is a new type of residence permit, for third country citizens who have entered the country legally on any kind of visa (type C or D) or are legal residents in the country, even if the residence permit they hold does not allow for change of residence scope.

Beneficiaries of the right of entry and the permanent residence permit, which shall be renewed every five (5) years, are:

a) third country citizens who own real estate property in Greece, either personally or through a legal entity based in Greece or another EU member state, of which they own the total of the company shares, provided the minimum value of the property is €250.000*;

b) third country citizens who have signed a lease agreement – for a minimum of 10 years – for hotel accommodations or furnished tourist residences in integrated tourist resorts according to article 8, paragraph 2 of Law 4002/2011 (Government Gazette 180 A’), provided the minimum cost of the lease is €250.000*;

c) third country citizens who either reside legally, with a residence permit, in Greece, or wish to enter and reside in the country, and who have full ownership and possession of real estate property in Greece, which they have purchased before the enactment of law 4146/2013, provided that they had purchased the real estate property for a minimum of €250,000* or the current objective value of their real estate property is at a minimum of €250,000*;

d) third country citizens who purchase a plot of land or acreage and proceed to erecting a building, provided that the cumulative value of the land purchase and the contract with the construction company is at minimum €250,000*.

e) third country citizens who have signed a timeshare agreement (lease), based on the provisions of Law 1652/1986. A time share lease, according to the provisions of article 1 of law 1652/1986 is the commitment of the lessor to grant, each year, to the lessee, for the duration of the timeshare, the use of the tourist accommodation and to provide to them the relevant services for the determined period of time according to the contract, and the lessee must pay the agreed rent. Tourist accommodation for the implementation of this law refers to hotel units and generally tourist facilities operating under the permission of the Hellenic Tourism Organization (EOT) and have been subject to the provisions of the law by decision of the Secretary General of E.O.T. Timeshare is agreed for a period of one (1) to sixty (60) years.

f) third country citizens who are adults and who fully and legally own real estate property in Greece, the minimum value of which is €250.000*, and is acquired through intestate succession, will or parental concession.

g) family members of the third country citizens described above.

According to the law, family members of third country citizens entering the country are:

1. Spouses,
2. the other spouse or partner with whom a third-country national has a cohabitation agreement in Greece,
3. the direct unmarried descendants of the spouses, who are under the age of 21,
4. the direct unmarried descendants of the supporter or of the other spouse/partner, provided that their custody has been legally entrusted to the sponsor (for his/her children) and to the other partner (for his/her children), under 21 years of age,
5. the direct relatives of the spouses in the ascending line.

*In some central municipalities of Athens, the central municipality of Thessaloniki, Mykonos and Santorini, the minimum limit is 500.000 Euros and the investment must be made in a single property. For more information, you can refer to the “What is a Golden Visa” page.