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Greece Permanent Residence
A Golden Destination with EU Schengen zone access
Greece is located at the intersection of Asia, Africa and Europe.
It is renowned for its beautiful coast lines, sandy beaches, sunny weather and the extraordinary nightlife.
One of its distinguished characteristics is the unique natural beauty of its islands and culture.
Greece is very famous for its Mediterranean cuisine and the historical monumental sites, which date back to the 7th millennium BC, such as: Acropolis in Athens, Knossos Palace in Crete, Ancient Delphi and Epidaurus, Mystras, Ancient Olympia and many more.
Moreover, it is well–known for its rich culture and local traditions, especially in reference to its islands. Each island of Greece has different customs, culture characteristics and lifestyle that make it very interesting to visitors.
Furthermore, Greece is a member of the European Union since 1981, it has joined the Schengen Zone in 1992 and the Eurozone in 2001.
The official language is Greek, but a great percentage of the population speaks English, followed by French, Italian and German.
The official currency is Euro.
Greece has an exceptional infrastructure, which can support all business activities, especially in its mainland cities.
Additionally, it has an outstanding inland transportation, as well as, an excellent transportation through air and sea.
Equally, it has a reliable private and public medical system, which can support its citizens and visitors throughout the country.
The Educational system of Greece is very advanced and reputable all over the world.
Greece is considered to be a safe destination for travelers, since crime rates are considerably low.
Greek people are very polite and they are distinguished for their hospitality. When foreigners visit Greece they feel like home and they are overwhelmed by the Greek hospitality.
Even though Greece has been suffering from a monetary crisis in the last decade, it continues to be one of the most attractive and safe destinations in the world for investment, due to its location, safety, quality of life etc.
Similarly, Greece is considered to be a Business Hub for various industries and companies such as trading, manufacturing, tourist, energy etc.
Cheapest Permanent Residence Scheme in Europe.
Acquisition of a Permanent Residence of a European member state, which belongs in the Eurozone.
Permanent Residence family inclusion of the main applicant (dependant children up to 21 years old, as well as, direct relatives of the spouse – elderly parents).
Greek Permanent Residence operates as an entrance visa to all of the 26 countries of the European Schengen zone, for up to 3 months, in each 6 months period. (Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, Liechtenstein)
Holders of the Greek Permanent Residence, has the right to obtain a long term residence status, which serves as a required qualification for naturalization after 7 years of continuous residency (specific requirements are applied).
There are no restrictions of residence, for a specific period of time.
Holders have access to health care and Greek public education systems, as well as, an entitlement to acquire lower education fees in European member states and free education in public institution of the Schengen countries.
A real estate investment in Greece is considered to be a great investment, since there is a potential of acquiring an immediate return on investment through rent, or, achieving capital appreciation through the rising prices of the real estate market, in the long run program.
Holders may enjoy the privilege of the Mediterranean culture, the nutrition of the Mediterranean cuisine, as well as, the blessings of the beautiful sunny weather and sandy beaches of the main land and islands.
Residents have the opportunity of exploiting the incomparable beauties of Greece, enjoying and being part of a vibrant lifestyle and rich culture.
If the applicant already has a property, either by purchase or through donation or parental allowance, that is fully owned in Greece, with a minimum value of €250.000 (donation or parental allowance applies only to the recipient).
In case of a joint ownership, the residence permit is granted, when and if the owners are spouses, with a minimum total value of €250.000.
If the joint ownership is from individuals with no ascending line relationship, then the residence permit is granted when the amount invested for each of the joint parties is at a minimum total value of €250.000.
The Permanent Residence can be indefinitely renewed every 5 years for the whole family, including the elderly parents, provided that the main applicant still possesses the ownership of the property.
The holder can acquire multiple properties, without any restrictions in location and square meters, with a minimum total investment of €250.000.
When a non–EU citizen is the sole owner or shareholder of one or more legal entities, then he/she is eligible to acquire the permanent residence.
The estimated time of issuance is 2 months, but the holder can immediately benefit, after the submission of all the supporting documentation, since a proof of submission is being issued for the Greek Government.
The applicant must have a proven financial ability for the investment with no minimum personal income requirement.
There are no language requirements.
The applicant / owner who acquires property through a legal entity is eligible to obtain the permanent residence, when his/her company shares ownership is 100%.
The entry visa needed in order to purchase a real estate property, when a Greek residence permit is requested, is either a type C (Schengen visa) or a type D (national visa). With the type C (Schengen visa), the holder may stay in Greece and in the other Schengen countries up to 90 days per 6 months period. With the type D (national visa), there is a special provision for real estate property owners or perspective buyers. The duration of this visa is 1 year. The holder of this visa can stay, travel in or out of Greece as often as he/she wishes. In addition, the holder may travel to Schengen countries for up to 90 days per semiannual period.
For the property purchase, and, visa application, additional fees needed for government, notary and local disbursements (apply on case by case). Moreover, a VAT of 24% is applied for new property purchases.
Under the investment option an income tax is applied starting from 22%. The rental income ranges between 11% – 33% and capital gain tax at 15% on property sales.
The property can be rented instantly.
Legal fees : Subject to discussion. Please contact us, in order to advice in connection to the various options and decide the most beneficial alternative for your investment.
Please note that the Government has the right to alter or change any of the above mentioned procedures, criteria or fees, without prior notice, since all are granted under the sole discretion of the Government.
In some cases, an enhanced due diligence may be required, depending on the citizenship the applicant holds and other personal circumstances.
Additional transaction costs may also apply for the purchase of real estate. Fees are subject to change.