INVESTORS PERMANENT RESIDENCE PERMIT-real estate

LEGAL PROCEDURE FOR IMMIGRANTS TO ENTER AND SETTLE IN GREECE AS FINANCIALLY INDEPENDENT PERSONS AND OBTENTION OF THE «INVESTORS PERMANENT RESIDENCE PERMIT»

 

Nationals of third countries (non-European ones) that are financially independent and have in their possession Real Estate in Greece that is equal or exceeds the amount of 250.000 euros have the possibility to establish in Greece, alone or with their family members.

L.4251/2014 enacting the “Code of Immigration and Social integration and other provisions”, and more precisely in its article 20 gives to non-European citizens the opportunity to obtain simultaneously, by purchasing a Real Estate (of a value of 250.000 and more) in Greece the right to settle legally and permanently in our country. Non-European citizens such as Chinese, Saudi-Arabian/UAE or Russians ones, are, by the law, considered as Investors, because in fact, given the Greek Crisis and the general economic situation in Greece, citizens of third countries that would like to acquire a Real Estate here strengthen our economy. Due to the crisis, Real estate value in Greece has fallen dramatically, and consequently, extremely interesting opportunities regarding properties can be concluded most of the times.

Recognizing the benefits of non-nationals investing in Greece, L.4251/2014, in exchange, offers this particular category of investors and their family members, a five (5) years permanent residence permit, renewable indefinitely (5 year period at a time) with the only condition that the investor proves that he is still the owner of the Real Estate. From our National Statistic Sources, the latest survey showed that the largest number of applicants for permanent residence permit in Greece to the Greek Immigration Office is, indeed, the category of “Third countries Investors”.

The legal procedure for an investor and his family, to be granted the 5 years permanent residence permit has been modified through the years by the above mentioned Law, offering flexibility and simplicity (by contrast to all the other categories of persons that would like to obtain a residence permit in Greece), concerning the documents needed by the Greek Immigration Office.

Indicatively, the documents needed in order for solicitors to deposit the papers to the GIO are:

–valid passport

 

-a visa type C or D on the passport, in order to certify that you have entered the country legally

 

-the Real Estate purchase Contract

 

–Private Health Insurance documents issued here in Greece (for all family members)

–Marriage certificate (if the couple is married), legally and officially stamped by the Ministry of Foreign Affairs and by the Embassy of the Investor’s country, in case the country is not listed in the Hague Convention. Then, the document needs to be translated by the Greek Ministry of Intern Affairs.

–Kidship certificate (if the married couple has children), legally and officially stamped by the Ministry of Foreign Affairs and by the Embassy of the Investor’s country, in case the country is not listed in the Hague Convention. Then, the document needs to be translated by the Greek Ministry of Intern Affairs.

For specific additional information and counseling you can contact our Law Firm and speak with a qualified attorney at 0030 210 8811903, 0030 210 8251894, (tel/fax) or via email at akorela.lawfirm@gmail.com

 

 

 

Buy real estate and get legal visa for ever!

REAL ESTATE PURCHASE BY NON EUROPEAN CITIZENS

AND OBTAINMENT OF RESIDENCE PERMIT

The past years, Greece, aiming to attract foreign investments especially by individuals and legal entities of third-countries outside of the European Union (e.g. Russia, China, Islamic Countries, Countries of South America etc), in an attempt for revenues influx, has proceeded to a series of legislative actions which simplify the procedure and reduce the restrictions and conditions under which someone could acquire real estate in Greece in the past, but also offer additional prerogatives to those interested, making this kind of investments particularly favorable and advantageous.

In particular, under laws 3978/2011 and 4146/2013 the procedure and the conditions required for a person or legal entity to acquire real estate in Greece is drastically simplified, while also those who already own or are intent to acquire or rent real estate in Greece, the value of which exceeds 250.000 euro, are given the opportunity in obtaining a 5year renewable residence permit for themselves and their families.

The main condition for the issuance of such residence permit is the value of the property which should exceed in total the amount of 250.000 euro. This right is offered to the owners of the property, provided that they are citizens of a third-country (non EE) along with the members of their families (i.e. spouse and children under the age of 18). In cases where the acquisition has taken place under a legal entity based in Greece or another EU country, as long as the entirety of company shares are owned by one person, he/she and their family also have the same right for obtainment of residence permit.

The potential investor is required to have been awarded a VISA, in order to be eligible to enter the country, under which subsequently the relevant residence permit will be issued. In relation to the acquisition of real estate in Greece, a special type of Visa can be obtained (Type D) which is issued for a one year period, offering the ability for multiple entrances and free movement in the member states of the Schengen Treaty. Nonetheless any holder of every type of Visa (e.g. Type C, Tourist or Professional Visa etc) or asylum applications is eligible for the above residence permit without restriction.

After the acquisition of the real estate, the owner is eligible for a residence permit, with an initial duration of five years, after which and provided that the beneficiary remains the owner or leaseholder of the property there is the option for multiple successive renewals, for five years each time.

The above residence permit does not provide a right to work (work permit), while the beneficiaries (property owner and his family members, i.e. spouse and underage children) have the right to access public education like every Greek citizen.

Our Law Firm handles on behalf of individuals and legal entities of third-countries the procedure for both the finding and purchase of real estate in Greece and also the issuance of Visa and obtainment of the relevant residence permits, provided that the total value of the property exceeds the amount of 250.000 euro.

Especially, our firm handles the finding of real estate opportunities under the specification and wishes of the interested investor in collaboration with real estate agencies in every part of Greece, provides legal check for the property to the land registry in order to ensure it is free of encumbrances, represents the client before the greek public Agencies and Services, collaborates with a Notary for the drafting of the contract and submits it to the land registry after the completion of the deal.

Additionally, our Firm handles the issuance of Visa in the name of the potential investor and in cases where the total value of the property exceeds the amount of 250.000 euro, we handle the procedure of collecting the required documents for the submission of the application for residence permit on behalf of the owner and his/her family, under which a 5 year legal residence permit is provided with a renewal option for as long as the real estate remains in his/her ownership.

Call us for more details and speak with a specific lawyer. Phone numbers: 0030 210 8811903, 0030 210 8251894.