Frequently Asked Questions
Can my relatives in the ascending line (namely my parents and my spouse’s parents) or my children who are over the age of 18, accompany me (in cases of real estate ownership in Greece), and be included in the family provision? What about the children who turn 18 during the period when their parents’ residence permit is valid?
Ascendants are included in the provision above but not children over the age of 21. Children of third country nationals, who have been admitted to Greece under the terms and requirements of residence permit for property owners, are granted a residence permit for family reunification until the age of 21. After that, it is possible to acquire a renewal as a 3-year independent residence permit until they reach the age of 24 and then it is possible to renew it further according to pertinent immigration legislation.
Are unmarried partners entitled to a residence permit?
Family members do not include unmarried partners.
Can I travel to other countries within the EU with the residence permit for owners of real estate? Are there any conditions related to this?
Yes. The residence permit and long-term visas are valid as far as the free movement of the person in the Schengen area is concerned. Any citizen who holds a long-term visa (such as the residence permits for real estate owners) which has been issued by a member state and are valid for one year, are able to travel to other member states for up to 3 months within a six month period, under the same conditions which apply to the holder of a residence permit, while they are also granted a right for multiple entries.
Can the residence permit be considered as a work permit? Can my spouse, the legal representative of my company, my children, or myself, work in Greece?
No, the residence permit does not provide access to any type of employment. The family members that have been issued a residence permit for the same duration as the sponsor are similarly not granted access to the employment market.
Does the residence permit give me the right to apply for citizenship?
Real Estate Owners are eligible for the submission of an application for the acquisition of Greek citizenship. In this case, the applicants must fulfill all the preconditions of the Greek Citizenship Code applied for the acquisition of Greek citizenship by naturalization.
Does the amount of €250,000 include the Value Added Tax? What should the value of the investment be if the ownership / sale document includes the name of both spouses?
The amount of €250.000 refers to the price indicated on the contract. In cases of joint ownership of the real estate property by spouses, the residence right is granted to both spouses.
Can I obtain more than one piece of property, the individual value of which is less than €250.000, if the combined value is equal or greater than €250.000?
You are entitled to residency rights irrespective of whether you own one or more properties, provided that their combined value is equal to or greater than €250.000.
Can I buy commercial property or a combination of commercial and residential properties or land?
Yes, the law states that €250.000 must be the stated price on the contract. It does not distinguish between commercial and residential properties.
Are there any restrictions that apply to the real estate market? (e.g. location, size in square meters, or other factors).
There are restrictions on properties located in border regions.
Can I travel in Schengen countries directly, after my residence permit has been issued, from my country, or do I need to first come to Greece?
You can arrive to any Schengen country you wish to.
What is the arrangement regarding the access to education? Can the children of the residence permit holder attend a Greek public school or University?
The holders of the residence permit have access to public education, analogously to that of Greeks. In terms of University, the children are eligible to apply at any of the Universities within the EU Schengen area and be eligible for EU tuition fees.
Can I purchase a car with Greek license plates for my transportation needs in the country?
Yes, under the specific regulations of the Ministry of Transport, which apply to third country citizens.
Can I take a mortgage out on the property in order to receive a loan?
You can take a mortgage out on the property, in the same way as Greeks.
If 8 third country citizens jointly buy a property for €2.000.000, are all the joint owners entitled to a residence permit?
Yes, provided that the amount invested by each one is €250.000.
Is it possible to rent the real estate property to third parties?
Third country citizens who own real estate have the right to rent their property.