5 Years residence permit for citizens of third countries if they buy a property over 250.000 euros

5 Years residence permit for citizens of third countries if they buy  a property over 250.000 euros

A new law is in force (4146/2013) which paved the way for residence permit in Greece to citizens of third countries. It is said that thousands of flats are already bought by citizens of third countries all over Greece and mostly in Athens and the Greek islands.

In the beginning it was proposed by the authorities to provide a visa for purchases over 300.000 but later they reexamined the issue and decided that the amount of 250.000 would attract more investors. The final decision gave a competitive advantage to Greece among its competitors such as Portugal and Spain, where the limit is set on 500.000 euros. In Cyprus, where the amount is 300,000 euros, more than 1,000 Chinese citizens made purchases in 2012 so a Chinese community has already been created on the island.

Greece is considered to be one of the most attractive and promising real estate markets internationally because of the following reasons:

• It has the lowest limit for issuing visas in relation to its competitors

• Due to the crisis and the difficulty of the average Greek citizen to make big purchases, real estate prices have dropped significantly

• The geographic location of Greece is crucial as a connection between East and West

• Greece has a perfect climate

• Greece remains a popular tourist destination for every season of the year

Our company “GAZEPIDIS CONSTRUCTIONS” with a long history in residential constructions follows closely the updates in this field and as it constantly aims to improve and maximize its potential, it has started a cooperation with “ATLAS INVESTMENTS/ MASLINK GREECE” which is the exclusive official promoter of our properties in China.

Beneficiaries of entry and residence of five years visa are:

• Citizens of third countries who buy a property in Greece the value of which exceeds 250,000 euros

• Citizens of third countries that have signed at least a ten year lease with hotel accommodation or tourist furnished residencies in integrated tourist resorts according to article 8, paragraph 2 of law 4002/2011 (Government Gazette 180 A) as long as the minimum height of lease amount is 250,000 euros

• Family members of the previous categories