Obtaining a residence permit in Greece through the purchase of real estate

A residence permit is the most common document that makes it possible to legally stay in sunny Hellas and enjoy its unique beauty, favorable climate, measured rhythm of life and friendliness of local residents. It is not so easy to get it, however, for certain categories of foreigners, the process does not take too much time.

Innovations of the Greek migration policy
The Greek government has made changes to migration laws and launched interesting programs to attract funds from financially secure foreigners. In return, investors get a lot of advantages - from a serene holiday on the Aegean coast in their own villa to the opportunity to give a decent education to their children and provide them with all the benefits available to Europeans. Several years ago, several countries launched similar offers at once, but the Greek one is distinguished by financial accessibility and a number of other advantages.

There are three ways to get the coveted residence permit under the new programs:

Prove your financial viability. Economically independent foreigners can enter the country with their family on a special type D visa and apply for a residence permit upon confirmation of the necessary prerequisites for obtaining it:
the presence of a Greek bank account and the amount specified in the law at the rate of 24,000 euros per applicant + 20% for a spouse + 15% for each minor child;
stability of passive income - at least 2,000 euros per month per person. You will need to confirm it every year by presenting a certificate from the bank.
Having invested 300,000 euros in the Greek economy, an investor has the right to count on the loyalty of the authorities. The list of economic sectors in dire need of an influx of financial revenues is quite impressive - tourism, medicine, transport, education, energy, agriculture, industry. In exchange for the funds invested in the implementation of a long-term investment project, a wealthy foreigner receives preferential taxation and a significantly simplified procedure for obtaining a residence permit. To enter the country, a national visa is required, a residence permit is issued for 5 years, an extension is possible only after confirmation of the success of investment activity.
Buying a property worth at least 250,000 euros is the most attractive way to quickly get the opportunity to legally stay in the country and even become a Greek citizen in the near future.
Therefore, it is worth considering this option in more detail, having previously read an interesting comparative table:

Financially independent foreigners Buyers of real estate worth more than
250,000 euros Investors in the Greek economy
The need to obtain a special visa type D Yes No Yes
Stay in the country for at least 183 days a year Optional Yes
Guarantee of obtaining a residence permit No Yes No
The period for obtaining a residence permit is 60-90 days 30 days 90-120 days
Having a Greek bank account Yes Not necessarily Yes
The validity period of the residence permit is 2 years with an extension for 3 years under certain conditions, 5 years with a guaranteed extension and the opportunity to apply for citizenship after 7 years of legal residence in the country, 1 year, an extension subject to the success and expediency of investments
Additional payment for family members Yes No Yes
Buying a property and a Greek residence permit
Investments in real estate in Greece are now more attractive than ever. Having bought a house, villa or apartment, you can expect to receive a substantial profit when renting them out or selling them in a few years. The agreed investment amount of 250,000 euros implies the purchase of any housing, including several objects, the final cost of which will meet the requirements of the program. Compared to other countries making similar offers, the mandatory housing cost of a quarter of a million euros is the most loyal and attractive.

Documents for obtaining a residence permit when buying a home
To apply for a residence permit, the buyer of real estate needs to prepare:

application in Greek;
originals and copies of passports of all family members;
marriage and birth certificates must be certified with the APOSTILLE seal and translated into the official language;
certificate from the state hospital about the state of health (fluorography is mandatory);
purchase and sale agreement (copy);
insurance;
notarial confirmation of the legality of the transaction and its compliance with the terms of the program;
certificate of registration.
The cost of legal support in Greece is quite affordable, so it is better to entrust the preparation and submission of documents to the relevant authorities to professionals. A residence permit is issued not only to the buyer of real estate, but also to his family members. Recent changes are being made to their number even by grandchildren and parents. At the end of the five-year validity period of the residence permit, it can be extended, and after another two years, apply for Greek citizenship. This is an important advantage of obtaining a residence permit through the purchase of real estate, ordinary investors or financially independent foreigners do not have such an opportunity. Experts advise you to take advantage of favorable offers as early as possible so as not to miss a real chance to successfully join the large and friendly family of the European Union.