NON EU-PASSPORT HOLDERS
Non EU passport holders can now buy property or plots throughout Crete without having to apply to permission to buy, as was previously the case, although certain military areas still have restrictions for non EU passport holders.
NON EU PASSPORT HOLDERS AND INFORMATION REGARDING RESIDENCE PERMITS IN GREECE
Non EU passport holders who own property in Greece, can now obtain a permanent Residence Permit, renewable every 5 years.
Different categories and types of these permits exist and employment rights depend on the type of permit issued.
The new type of Residence Permit for real estate owners who have received a visa for this purpose is available provided they comply with the following criteria, relevant to their own situation.
1. Minimum value of property is €250,000 owned personally or via a legal entity.
2. Those who have signed a timeshare agreement/lease for minimum of 10 years for tourist related accommodation, with minimum value of €250,000
3. Those who legally reside in Greece, with a Residence Permit or wish to enter and reside in Greece and have real estate valued at minimum €250,000.
4. If the property was acquired through a donation or parental concession, the right to a
Residence Permit must be exercised by that receiver.
5. Those who purchased land and have begun to build, provided the cumulative value of the land and contract with the construction company is at a minimum of €250,000.
6. Timeshare lease holders meeting the correct criteria.
To receive a Residence Permit, the following conditions must be met:
a) The real estate property must be owned by and be in possession of its owners.
b) In cases of joint ownership, where the value of the property is €250,000, the Residence Permit is only granted if the owners are spouses with undivided ownership of the property. In all other cases of joint ownership, the residence permit is only granted if the amount invested by each of the joint owners is at least €250,000.
c) If the owner has acquired the property through a legal entity, the applicant must own 100% of the company shares.
d) The Residence Permit is also granted in cases where the third country citizen is the owner, either directly or through a legal entity, of more than one real estate property with a combined value of at least €250,000.
e) The documented intention to own property should be supported by documentation that proves the financial capacity and which certify the existence of bank accounts or other mobile assets, such as bonds or shares, which can cover the cost of the investment of at least €250,000 and which certify the intention of the applicant to purchase the property.
f) Those that have signed a lease of at least 10 years for hotel accommodation or furnished tourist residences in integrated tourist resorts, provided the minimum value of the lease is €250,000, the contract must require a single payment of the lease for the equivalent of the ten year leasing of the property.
According to the law, family members of third country citizens entering the country are:
– Spouses who are over the age of 18
– Unwed children under the age of 18 where there is shared custody, including
children that have been adopted
– Other unwed children under the age of 18, of the other spouse, including children that have been adopted, provided that the applicant is their legal guardian.
An independent Residence Permit is issued for the children of those citizens who have been accepted into Greece based on certain terms and conditions.
Entry Visa Requirements to obtain a Residence Permit for Real Estate Owners
Non EU citizens have the right to submit an application for a Residence Permit if they legally reside in Greece, regardless of their status or type of Residence Permit they possess.
The Residence Permit for real estate owners is valid for 5 years and then can be renewed provided the real estate remains in the ownership and possession of the applicant or relevant leases are ongoing. Absences from the country do not impede the renewal.
For more information and for all the details on the process and documentation required to obtain a Residence Permit, contact:
General Secretariat of Population and Social Cohesion of the Ministry of Interior.
Tel: 0030 213 136 1029/30
Fax: 0030 213 136 1388
Applications need to be made to the municipality or the relevant authority of the Aliens and Immigration of the Decentralised Authority in the applicant’s place of residence, or to the General Secretariat for Immigration of the Ministry of the Interior.