Registration of residence permit in Greece: conditions, advantages, methods of obtaining | Law&Trust International

Greece is one of the most popular migration destinations for citizens of our country. This state is a member of the European Union, respectively, in its territory, all EU legislative rules for individuals and companies apply. Greek citizenship allows to enjoy all the privileges for EU residents, including freedom of movement, the ability to conduct business in any EU country, etc. One of the key conditions for obtaining citizenship in Greece is a residence permit. With this document, you have an opportunity to undergo naturalization much faster, easier and cheaper than for other reasons.

Greece willingly issues a residence permit and citizenship

The Greek government eagerly approves applications for a residence permit. In 2019, a residence permit in the country was issued for more than 8800 customers. The residence permit program has been operating since 2013, and since then the number of approved applications has been growing annually by an average of 30%. The laws for obtaining Greek citizenship are loyal, so issuing a passport after meeting the requirements will not be a problem. A residence permit is the main way to apply for citizenship.

On average, obtaining a residence permit takes 2-3 months. A residence permit can be issued on the basis of starting a business, investing in local companies, buying real estate, etc. Greece requires a small list of documents and offers attractive conditions. There are low utility bills, reasonable food prices, and relatively inexpensive real estate. The whole family can be included in the application for a residence permit.

Get a residence permit in Greece: requirements, advantages, grounds for obtaining.
Get a residence permit in Greece: requirements, advantages, grounds for obtaining.

Conditions for obtaining a residence permit in Greece

Age

Over 18 years old.

Impeccable reputation

Do not pose a threat to the national security of Greece and the health of other people.

Absence of criminal record

Documentary evidence of the absence of a valid criminal record in the country of citizenship.

Health insurance

Provide valid health insurance.

No violations

No visa violations in the Schengen countries.

Availability of real estate

Document the availability of own or rented housing, the required minimum of 9 m2 per person.

Advantages of a residence permit in Greece

Freedom to travel or live without a visa in Europe: the right not only to live in Greece all year round but also to remain without time limits in the Schengen area.
Advantages for doing business: the right to buy real estate, register and manage a business.
There are no requirements for staying in Greece: there is no need to stay in Greece for a certain period of time.
Access to the state educational system: the opportunity to get an education in any educational institution of the Schengen countries.
Health: access to the world-famous and leading health systems in the EU.

Grounds for obtaining a residence permit

Investments (Greek Golden Visa Program)

According to a new joint ministerial decision, third-country nationals who invest at least 400,000 euros (440,000 US dollars) in the Greek economy are entitled to a five-year residence permit. Investing by buying shares or bonds in the amount of at least 400,000 euros is allowed.

One of the types of investment you can consider is buying a property in Greece.

Greek policy aimed at stimulating the domestic land market regulates the granting of a residence permit to third-country nationals (and members of their families) who invest in real estate in Greece with a value of at least € 250,000.

Provided:

  • a citizen has the full right of ownership, possession, and use of real estate in Greece. In the case of joint ownership of € 250,000, a residence permit is granted only if the owners of the property are spouses with indivisible shares in the property. In all other cases of joint ownership, the right to residence is granted only if the share of joint ownership of each of the co-owners is € 250,000;
  • a citizen has the full right to own and use real estate in Greece through a branch/subsidiary of a foreign company in Greece, whose shares are wholly owned by the applicant. Any number of properties can be combined to make a minimum investment of € 250,000. According to the law, non-European citizens who own property in Greece can receive a 5-year residence permit, which can be extended two months before the expiration of the validity of the residence permit.

Business immigration

It is applicable to third-country nationals who are members of boards of directors, managers, and heads of subsidiaries and branches of foreign companies legally engaged in commercial activities in Greece.

The establishment of a branch is the usual way of doing business in Greece for foreign business entities. In accordance with the provisions above, the types of foreign companies that can open a branch in Greece are:

  • S.A. companies, i.e. companies limited by shares with an authorized capital of at least 60,000 euros;
  • Limited liability companies with a registered capital of at least € 4,500. The requirements are the same for both.

The branch has the same tax and accounting obligations to the Greek company, and profits are taxed based on the same tax rates that apply to Greek companies. However, the branch does not have its own legal entity but its activities are carried out on behalf of the foreign S.A., which, as a legal entity, is regulated by the laws of the country in which it has a registered office. The branch may carry out any actions provided for in the Charter unless there is a corresponding restriction in the power of attorney to appoint a legal representative in Greece.

A residence permit is issued for a period of 5 years with the possibility of its extension for equal periods of time, provided that the investment activity continues.

Program for financially independent individuals

Third-country nationals and members of their families who wish to retire in Greece or otherwise reside in Greece without work can apply for a residence permit in Greece based on independent income or funds from outside the country through pension payments or a pension, remote work, business, savings or grants.

A residence permit in Greece for financially independent persons is issued to foreign nationals whose income in the country of residence exceeds 2,000 euros per month.

The income can be confirmed by a pension abroad, a bank statement or other evidence that a person has sufficient legal income of his own to cover his expenses without work or for independent economic activity in Greece. The above documentary evidence should confirm:

  • applicant income stability;
  • minimum monthly income (2,000 euros);
  • legal sources of income.

A residence permit for financially independent persons is issued for two years, after which the owners can renew them every three years. Duration of stay in Greece is not limited, and holders of a residence permit can reside there permanently or not visit the country at all. Access to the labor market is not permitted.

List of documents for a residence permit

Photocopy of the passport.
Certificate of good conduct.
Three photographs 3.5 х 4.5 cm.
Documentary evidence of one of the grounds for obtaining a residence permit.
A document confirming the availability of funds necessary for the stay.
Health insurance.
Health certificate.
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