VISA AND RESIDENCE PERMIT IN GREECE

Greece, officially the Hellenic Republic, is one of the most historic countries. Located in Southern Europe, Greece is strategically located at the crossroads of Europe, Asia, and Africa. This makes it a prime location for investors with a global business mindset. Greece is a democratic and developed country with a high standard of living and a member of the European Union. Besides its cultural significance and summer sunshine making it a prime tourist location, Greece warmly welcomes investors seeking business opportunities and offers its residents a high quality of life and a very high standard of living.

The Greece Residency Permit, allows the investor and their direct family, to live, study and work in Greece and other EU member countries provided they meet the necessary requirements.

Greece offers Residency by investment options to individuals who wish to purchase real estate or perform a strategic investment in the economy. These options grant residency for different time frames, and are defined in Law 4146/2013: Creation of a Development Friendly Environment for Strategic and Private Investments.

Greece Residency by Investment Programme Benefits:

Freedom to travel or live visa – free in Europe: Individual and his/her family will have the right to not only live year-round in Greece, but also stay without any time limitations in the Schengen area.

Opportunities for doing Business: Holders of residency have the right to buy real estate, register and manage a business.

No Requirement to Stay in Greece: There is no need to stay in Greece for a fixed period of time.

Access to Public Educational System: Holders have the right to educate their children in educational institutions of the Schengen Countries.

Healthcare: Citizens can also benefit from the world-renowned and leading healthcare systems in the EU.

Possibility of receiving permanent residency and EU Citizenship – Holders have the right to obtain the permanent residence after five years from the date of obtaining residence permits and following that they can freely claim Greek citizenship.

Options to Acquire Residence Permit in Greece:

The program is aimed at high net worth individuals who wish to obtain permanent residence, with the possibility of citizenship.

INVESTMENTS

According to Articles 16 and 20 of Law 4251/2014 (former Article 26 of Law3386/2005) third-country nationals may enter Greece in order to perform an investment, which shall contribute to the growth of the national economy.

In the case of investments classified as Strategic Investments, under a decision of the Interministerial Committee for Strategic Investments, residence permit may be granted to the legal representative of the investor and to up to 10 additional persons, who shall act for the implementation of the investment plan.

PROPERTY OWNERS IN GREECE

The Greek government greatly invites foreign investments with the new Law 4146/2013, by offering residency permits to non-EU foreign citizens that buy property. According to the Law, non-European citizens who are owners of real estate in Greece may obtain a 5-year residence permit which can be renewed two months prior to the expiration of the residence permit.

FINANCIALLY INDEPENDENT INDIVIDUALS 

According to Art. 20 of the Law on Immigration and Social Integration (4251/2014) (former Article 24 of Law 3386/2005) citizens of third countries and members of their families wishing to retire in Greece or otherwise live in Greece without working, can apply for a Greek residence permit based on independent income or funds from outside the country via retirement benefits or a pension, virtual job, business, savings or grants.

This type of residency permit is issued for a period of 2 years and can then be extended, on the condition that the holder of the residency permit maintains his/her income.

 

Who Can Apply?

Non- EU citizens having adequate resources at a level of steady annual income for the coverage of their living expenses may apply for a 2- year residence permit. Such individuals may be accompanied by members of their families to whom a personal residence permit is granted.

Sufficient Income

The condition for sufficient income must exist for each member of the family. The minimum income is 2000 euros / month and in case the person is accompanied by their family, this amount is increased by 20% for the spouse and 15% for each child. The amount of the income may be proved by pension abroad, bank account statements or other proof that the person has its own sufficient income, of legal origin, to cover its expenses without being employed or exercise an independent economic activity in Greece.

Duration of the Residence Permit

The residence permit for financially independent persons is issued for 2 years and may be renewed every 3 years. Access to labor market: this type of residence permit does not allow access to the labor market.

Process – Steps

Step 1 – Obtain a Visa

The applicant obtains a special visa from the competent Greek embassy/consulate in the country of origin. The applicant should appear in person and be interviewed briefly in relation to the purpose of their application.

Required Documents

  • Passport valid for at least three months after the expiration date of the visa
  • Certificate of criminal record of the applicant by the competent authorities of the country of origin
  • Medical certificate by a recognized public or private institution, proving that the applicant doesn’t suffer from a disease capable of being dangerous to the public health according to the international standards of the World Health Organization
  • Evidence, such as bank, social security, pension statements proving that you have the necessary annual income of 2.000 Euros/month (additional funds, 20% for a spouse, 15% for each child)
  • Certificate that the applicant has applied to a medical insurer for full coverage of his medical care and expenses during his staying in Greece

Moreover, the applicant should not be listed as a persona non-grata and there should be no reasons to be considered as threaten to public health, public order, national security and international relations.

Step 2 – Application for the Staying Permit

Upon their arrival in Greece and until the expiration of their special visa, the applicant applies for the residence permit.

Required Documents

  • Application form in two (2) copies – to be drafted by our office.
  • Three (3) recent colored passport photographs.
  • True copy of valid passport or equivalent travel document recognized by Greece, together with valid visa.
  • Health Certificate issued by a Greek state hospital, certifying that the third-country national does not suffer from any disease which according to the international standards and the World Health Organization (WHO) could pose a risk to the public health.
  • Stamp Fee to be issued by the Greek Tax Authority.
  • Certificate that the applicant has applied to a medical insurer for full coverage of his medical care and expenses (In case the applicant does not hold one, we may conclude an insurance policy in Greece).
  • Evidence that the third – country national has sufficient funds, at the level of consistent annual income.

Renewal of the Staying Permit

  • Application form in two (2) copies – to be drafted by our office.
  • Three (3) recent colored passport photographs.
  • True copy of valid passport or equivalent travel document recognized by Greece, together with valid visa.
  • Stamp Fee to be issued by the Greek Tax Authority.
  • Certificate that the applicant has applied to a medical insurer for full coverage of his medical care and expenses.
  • Evidence that the third – country national has sufficient funds, at the level of consistent annual income.

VARDIKOS & VARDIKOS may assist any non-EU citizen that wishes to benefit from this provision and select your appropriate investment scheme. For more information kindly contact us at via info@vardikos.com or

Alternatively, and for any other inquiries, please call us direct via +306932478585

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