Since 2014 the Greek state has been offering a residence permit to investors who will buy a property in Greece.

Our office handles the entire process of your application, from the initial purchase and sale of the property and the procedures before the Greek authorities (Land Registry, Tax Office, Immigration Office etc.) until the final acquisition of the residence permit.

The investor residence permit allows its holder to move freely without a visa in all countries of the Schengen Area (25 EU countries, Switzerland, Norway, Iceland, etc.) without having to permanently settle in the country.

With the most recent changes to the Immigration Code (Law 5038/2023) by Law 5100/2024, the requirements for obtaining an investor residence permit were formulated as follows:

A third country citizen may obtain a residence permit for himself and his family members for five years if he enters the country legally by any means and invests in real estate in Greece. The investor may renew the residence permit for a period of five years at a time for as long as the property remains in his/her possession. Periods of absence from the country do not constitute an obstacle to the renewal of the residence permit. Investors may lease their properties.

The following persons are entitled to a residence permit for investors
a) anyone who has purchased real estate in Greece
(b) any person who has signed a long-term contract for a complex tourist accommodation, or a timeshare contract for tourist accommodation, of a value at least equal to the value specified in the law
(c) an adult who has acquired full ownership of immovable property of a value at least equal to that specified by law by inheritance or parental provision.

The minimum investment value is defined as following:

α) For the Region of Attica, the Regional Unit of Thessaloniki, the islands of Mykonos, Santorini and Anafi and islands with a population of more than 3,100 inhabitants, the minimum investment amount is 800,000 €.

b) For the other regions of the country it is set at 400.000 €.

c) It is set at 250.000 € if the investment consists of the purchase of real estate:

(a) if its main premises are changed into a residence. If the property is an industrial building or part of an industrial building or a property within which an industrial building is located, the property must not have been occupied by an industrial establishment and in operation for at least 5 years.
(b) if it is a listed building to be restored or reconstructed, or part of a listed building, or within which a listed building is situated, provided that the listed property is fully restored. The residence permit may not be renewed, and the property may not be transferred until the complete restoration or total reconstruction has been completed.

In all the above cases, the investment is made in a single property, and, in particular, if the property contains a building or if a building permit has been issued, a minimum surface area of 120 m² of main premises is required.

Spouses or persons in a civil partnership may acquire the property in equal shares with a total investment value at least equal to the minimum value specified in the law. In other cases, the right of residence is only granted if each co-owner’s share is of a value at least equal to the value specified in the law. E.g. two partners buy a property worth €1,600,000 at a rate of 50% each. The property can also be purchased through a legal entity based in Greece or another EU country, of which the investor owns 100% of the shares or partnership interests.

The agreed price or rent can also be paid by the spouse or relatives by blood or marriage up to the second degree of the buyer (parents, grandparents, children or siblings).