Cyprus: Golden Visas - Residency In Greece

Last Updated: 29 May 2019
Article by Vicky Petrides

Our firm advises on residency programmes of Greece. With our colleagues in Athens we are in a position to provide reliable legal advice on the golden visas programme and assist you in the opportunity of gaining access to Europe.

Significant Benefits: -

  • Access to the Schengen area consisting of 26 countries in Europe.
  • Visa granted for real estate acquisition for a duration of 365 days.
  • Residence permit issued within two (2) months for a duration of five (5) years in the case of real estate acquisition and ten (10) years in the case of strategic investments, unlimited renewability.
  • Minimum investment of only €250,000.00.
  • The investor and his family members (children and parents of the investor) benefit from investing under these rules.

Golden Residence Permit

What is the minimum value of the real estate property acquisition?

  • With an acquisition of real estate property in Greece at just €250,000.00, a non-EU national investor can acquire a residence permit.

Can the real estate be owned by a legal entity (i.e. a company)?

  • Yes, provided that the investor (individual) is the sole owner of the shares of the company.

Is the investment limited to an outright purchase of real estate?

  • No, there are also the options of timesharing for a duration of 10 years and long-leases for a duration of 10 years of hotel facilities /furnished homes for tourist facilities.

Can the residence permit be renewed?

  • Yes

What advantages are provided to Greek residence permit holders?

  • The right to stay continuously in Greece.
  • The right to travel to other Schengen countries without the need to obtain a visa. The duration of stay in the other Schengen countries is limited to 90 days per six-month period.
  • The residence permit holders have access to health and education services in Greece.  

Golden Investor's Permit

What is the difference between this type of permit and the residence permit in point 1 above?

  • The golden residence permit is for investors in real estate. The golden investors permit includes strategic investments as defined and approved by the Decision of the Inter-ministerial Committee of Strategic Investments.

Who can apply for such a golden Investor's residence permit?

  • The legal representatives of the entity, which makes the investment. Up to ten (10) individuals whose presence in Greece is considered as a necessary condition for the proper implementation of the strategic business plan of the entity can apply for such a permit.
  • The family members of these ten (10) individuals can also apply for a residence permit.

What advantages do (golden investor) strategic residence permit holders have?

  • The same as the golden residence permit holders.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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