It is the granting of a five-year residency visa in Greece, potentially leading to the acquisition of Greek citizenship, to citizens of third countries (outside the E.U.) legally entering or living in Greece and buying real estate property in the country exceeding 500.000 Euros (for properties located in the center of Athens and the Northern and Southern suburbs, in Thessaloniki, Mykonos and Santorini) and 250.000 Euros for properties located in the rest of the country.
Yes, it can be renewed every five years, provided the property stays under the ownership of the visa holder throughout the duration of visa, irrespective whether the holder had been physically present in Greece or not.
Yes, and the new owner is entitled to a visa; however, the seller’s visa will be revoked.
Yes, but it can also be under the joint name of the spouses, or even under the name of a legal entity, the shares of which belong to the applicant by 100%
The latter, provided that its value had been or currently is at least 250.000 Euros.
Yes, long term (10 years or more) leases of hotels or tourist resorts and time-sharing leases, of equivalent rent value (of 500.000 Euros or 250.000 Euros, depending on where the property is located) paid up.
It is not compulsory but lawyers may definitely assist the procedure to become effective and fast.
February 2023
[Disclaimer: The present Q + As do not constitute a legal opinion or analysis. For such opinion/analysis to be rendered and provided to client, specific case particulars, facts, events, documents etc. must be submitted to attorney’s attention, whereupon attorney will advise the client vis-à-vis the same. Attorney bears no responsibility if any generalised or summarised legal advice, such as the advice provided above, ultimately fails to apply in client’s specific case, as generally described at this stage before attorney is retained to represent client]