Residency

OVERVIEW

Greece’s passport is ranked as the 6th strongest passport in the world. It allows visa-free access to over 171 countries. Greek passport holders have the right to study, work, and live in any country in the European Union.

On 18’th April 2013, Greece introduced Law 4146/2013 giving Non-EU citizens and their family members the right to obtain Residency Permits by investing in Real Estate in Greece. The allowance for these types of residency permits has been integrated into the existing Law 3386/2005 “Entry residence and social integration of third-country nationals in Greece.”

According to Article 36A of the Law, a five-year Residency Permit can be granted to Non-EU citizens who own or purchase real estate in Greece, the value of which exceeds 250,000 euro.

 

The duration of this type of Residence Permit is 5 years and it can be renewed indefinitely (for a 5-year period each time) provided that the real estate property is still owned by the applicant.

In July 2015, Greece introduced new amendments to Law 4251/2014 under the Law 4332/2015, giving Non-EU citizens the right to obtain citizenship if they reside in Greece for 7 consecutive years, providing they stay in Greece for a minimum of 180 days for each year.
Permanent Residency Timeline: 2-3 months
Citizenship Timeline: 7 years
Nationalities supported: Open to all non-EU nationalities
Investment type: Real Estate
Investment cost: € 250,000

COSTS

The Greek Residency Program requires making a real estate investment into a property in Greece.

OPTION – REAL ESTATE INVESTMENT

The Residency Permit Program of Greece requires investing a minimum of €250,000 + VAT into Real Estate in Greece. The VAT level varies dependent on the region and is between 16-23%. Property Closing Costs are approximately 10%

Investment
€ 250,000 Full Investment
TIMELINE

1-2

WEEK

Atlantic Retainer Agreement signed and first Payment of Atlantic Professional Fees

The Client could select the Greek property remotely and Atlantic starts preparing property purchase documentation required to be presented for Residency application.

2-3

Week

The Client must travel to Greece to get the passport stamped before submitting the Residency application. If client does not have Schengen Visa, then a Greek Tourist Visa must be applied for at the Greek Consulate in the client’s country of origin/residence

4-5

Week

Property Purchase executed by Atlantic Lawyers. Residence Permit documentation is submitted to the Government including the property Title Deed. At this point, Government Processing Application Fees are payable.

The client pays the Submission invoice of Atlantic Professional Fees

3-4

MONTH

2 months for the official Residency Permit to be approved.

Final Atlantic Professional Fees are paid.

Once approved Client either sends the passport to Atlantic lawyers in Greece to insert Residency Permit or client travels to Greece to get Residency Permit inserted into Passport.

29 COUNTRIES VISA-FREE

SCHENGEN AREA

Austria

Belgium

Czech Republic

Denmark

Estonia

Finland

France

Germany

Greece

Hungary

Iceland

Italy

Latvia

Liechtenstein

Lithuania

Luxembourg

Malta

Monaco*

Netherlands

Norway

Poland

Portugal

San Marino*

Slovakia

Slovenia

Spain

Sweden

Switzerland

Vatican City*