RESIDENCE IN GREECE ON REAL ESTATE PURCHASE :
Our firm can offer services in relation to residency permits for investors in Greece.
The purchase of immovable property by a third country national can lead to a five year residence permit in Greece. The new law 4146/2013 has allowed the entrance of a third country national to Greece in order to purchase a property. When the purchase is completed, the third country national (which will be referred as “the purchaser’) can be granted with a 5 year permit of residency.
The investment to the immovable property can have the following legal forms:
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Purchase of immovable property by an individual.
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Purchase of immovable property by a legal entity where the applicant is the sole shareholder.
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Purchase of immovable property by a legal entity where the applicant is the sole holder of the corporate interest.
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Payment must be a transfer from abroad to a Cypriot financial institution.
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Owing of an immovable property in Greece which is valuated to the amount of 250.000 Euros.
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Signing of a 10 year timesharing agreement for 250.000 Euros.
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Signing of a 10 year tenancy agreement for 250.000 Euros of tourist accommodation facilities.
The members of the purchaser's family (wife and common children) will be also benefited with a 5 year residence permit. The purchaser is not granted automatically a work permit, but may participate in the board of legal entities. The purchaser will not be entitled to Greek citizenship but will able to request the extension of the permit, should the ownership of the property continue.
The purchaser will also have the possibility to travel through Schengen countries for three months within a six month period
TERMS AND CONDITIONS TO APPLY FOR THE RESIDENCE PERMIT
The application is submitted to the relevant authority of the location of the property acquired and “residency in Greece” of the applicant. The documents required are listed below, although in practice there are further prerequisites, which our firm will handle for you.
The Necessary Documents :
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Application issued by the above mentioned authority.
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3 colored recent photos
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A true copy of the passport and a copy of the visa of entrance to the country.
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A health certificate from a Greek public hospital or a private doctor verifying that the applicant does not suffer from a disease which can be considered as a danger for public health.
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A copy of the contract of sale for the purchase of a property or properties amounting to 250.000Euros.
A certificate from a notary stating that the contract of sale applies to the provisions of article 6 paragraph 2 of Law Number 4146/2013.
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Certificate of transfer from the local land registry.
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Certificate issued by an insurance company confirming that medical and hospitalization expenses are fully covered.
The whole family can be issued the Permanent Residency VISA
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Married couples, children under the age of 18 and parents of the applicants are also eligible for the PR VISA.
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Unmarried children between the ages of 18 and 25, provided they are students or undergraduates and are financially dependent on the applicant. The VISA permit is still valid even if the holder has exceeded the age of 25 years old.
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