1. Is it necessary to hire a lawyer to collect the documentation?
There is no legal requirement to collect and process the documents through a lawyer. In cases where the applicant does not speak Greek and/or is located outside of Greece, it may be preferable to ask for the support of a legal representative or proxy who is in Greece, to facilitate the process.
2. Are unmarried partners entitled to a residence permit?
Family members do not include unmarried partners.
3. Do I have to fly to Greece to apply for the program?
Yes. You just need to fly to Greece once to sign documents (preliminary contract of sale, POA,…) and do biometrics.
4. Will I be required to attend an interview in Greece?
There are no interviews under this program.
5. How many days per year do I have to be physically present in Greece to maintain permanent residency status?
There is no residency requirement for this program.
6. Can I travel to other countries within the EU with the residence permit for owners of real estate?
Yes. Any citizen who holds a Greek long-term visa (such as residence permits) is able to travel to any Schengen country for up to 3 months within a six month period.
7. Can I travel to Schengen countries directly, after my residence permit has been issued, from my country, or do I need to first come to Greece?
You can travel to any Schengen country you wish to.
8. 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?
In no case does the residence permit 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.
9. Does the residence permit give me the right to apply for citizenship?
Yes. Applicants and family can apply for Greek citizenship after 7 years of residence.
10. Does the amount of €250,000 include V.A.T?
The amount of €250.000 refers to the price indicated on the contract which does not include the V.A.T. of 24%.
11. 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.
12. Can I buy commercial property or a combination of commercial and residential properties or land?
The law states that €250.000 must be the stated price on the contract. It does not distinguish between commercial and residential properties.
13. What is the arrangement regarding the access to education and health services? Can my children attend a Greek public school?
The holders of the residence permit have access to public education, analogously to that of Greeks. Regarding access to health services, third country citizens and their family members must have insurance that covers their healthcare and medical care expenses. Insurance contracts could be signed in or outside Greece as long as they explicitly mention that they cover the applicant for the duration of their stay in Greece
14. Is it required of the buyer to prove economic capacity?
The income of the applicant must be proven by documentation which proves their capacity (e.g. Certificate by class-A recognised bank or an official financial institution or other recognised institutions to store bonds) and certify the existence of bank accounts or other transferable securities, especially shares or bonds (the above are checked for the issuance of a type D visa).
15. If 4 third country citizens jointly buy a property for €1.000.000, are all the joint owners entitled to a residence permit?
Yes, provided that the amount invested by each one is €250.000.
16. What happens if an applicant tarnishes his criminal record, either in his country of origin or in Greece, during the period which his residence permit is valid?
This leads to the revocation of the residence permit.
17. If someone holds a long-term Visa for a different Schengen country, does this Visa need to be cancelled to obtain a visa in Greece?
No. A Schengen visa by a different country gives the applicant the ability to enter Greece and settle issues regarding the purchase of the property.
18. Does the residence permit continue to be valid if the property is transferred/resold?
In cases when the property is transferred, the investor loses the right to residence. In case of resale of the property during the period of validity of the residence permit to another third country citizen, the right to a residence permit is granted to the new buyer along with a simultaneous revocation of the seller’s residence permit.
19. Is it possible to rent the real estate property to third parties?
Yes. Third country citizens who own real estate have the right to rent their property.