Permanent residence permit for investors
Investment may be purchasing real estate property, or a timesharing agreement with a duration of at least 10 years, or lease with a duration of at least 10 years of hotel facilities or furnished homes in combined tourist facilities.
It doesn’t matter whether the property is commercial or residential.
The minimum investment must be at least €250,000.
The residence permit has a duration of 5 years, renewable, provided that you still own the property.
Family members include the spouse, the lineal descendants of the spouses, who are under 21 years old and the lineal ascendants of the spouse.
It is important to note that the years of residence in Greece under such permit do not count for obtaining Greek citizenship.
- Copy of the notarial act proving the property acquisition.
- Notarial certificate that the act fulfills the requirements of article 36A of Law 3386/2005
- Proof of registration to the competent land registry.
- Valid passport or other travel document that is recognized by Greece
- Copy of penal status
- Medical certificate proving that you have no contiguous disease, which may endanger
- public health
- Travel insurance
If the property has not been paid in full:
- Proof of assets value exceeding €250,000 (i.e. certificate by a recognized first class bank or official financial organization or other recognized securities depository, attesting the existence of bank accounts or other securities, especially bonds or shares).
- Copy of brokerage assignment to a law firm or real estate agency.
If the property has been acquired through a legal entity:
- Copy of the notarial act proving the property acquisition.
- Copy of the articles of incorporation of the legal entity, proving that the third country national owns all corporate dividends or shares.
In case that hotel accommodation or furnished tourist residences in a combined tourist facility are leased for a period of at least ten years
- Copy of a notarial act concerning the lease of hotel accommodation or furnished tourist residences in a combined tourist facility are leased for a period of at least ten years. The above facility must be registered at the Greek National Tourism Organization (GNTO)
- Proof that the lease contract was properly registered at the local Land Registry.
European Economic Area
Dual citizenship is recognized in Greece. You are not required to renounce your previous nationality to become a citizen of Greece.
- Two passport-size photos
- Certified copy of passport
- Evidence of Health Insurance
- Original Police Clearance Certificate
- Medical Certificate
- Title Deeds or Proof of Registration of Real Estate
- Notarial act proving real estate acquisition
- Proof of net wealth
- Certified copy of Business License or Incorporation documents (if applicable)
permanent residency benefits
FeesPlease sign in to view
|government fees main applicant||€500|
|government fees spouse||€500|
|government fees dependents -18||€500 (over 13 years old)|
|government fees dependents 18-25||€500|
|government fees dependents +65||€500|
Visa Free Travel
To be a tax resident in Greece an individual must spend more than 183 days per year within the country. Residency rules may vary according to a tax treaty.
Tax residents are subject to personal income tax on their worldwide income, while non-residents are only taxed on their Greek-source income.
Personal income tax is levied at progressive rates up to 45%. Dividends and interests are taxed at a 15% flat rate. Rental income is taxed separately at progressive rates from 0% to 45%.
Capital gains from the sale of securities is subject to 15%. Those arising from the sale of immovable assets are currently tax-exempt.
Greece has enacted controlled foreign company rules. Under this regulation residents may be taxed on the undistributed profits of their companies abroad, provided that they own at least 50% of the share capital, entity is resident in a non-cooperative jurisdiction, more than 30% of profits are derived from passive income and shares of the entity are not listed in a regulated market.
Real property tax is levied according to the location, use, zone price, surface and age of the property. There is an additional real property tax levied on properties or sum of properties by a taxpayer over a tax value of €200,000.
There is an inheritance tax, estates are taxed between 1-10%, for other heirs, rates range from 0 to 40%. There is a transfer tax of 3% levied on transfer of real properties, if V.A.T. does not apply. There is no net worth tax.
V.A.T. standard rate is 24%, a reduced rate of 13% and a super reduced rate of 6% may apply to certain goods and services transactions.
With regard to corporate taxation, resident entities are subject to a 29% corporate income tax on their worldwide income. To learn more about Greek corporate taxation, legal framework and tax treaties, check out incorporations.io/greece.
This should not be construed as tax advice. Flag Theory | Passports.IO has access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.
ProceduresPlease sign in to view
Flag Theory | Passports.IO and our qualified attorney in Greece, will handle all paperwork, and guide you through each step of the process to ensure that it is as fast, efficient and pain free as possible.
First, our lawyers will conduct a due diligence check on you to ensure that you are eligible and meet the criteria to apply for the program and your application will be approved.
If required, through our network of developers and agent we will offer real estate options, to find the most suitable investment.
If you wish to make the investment through a legal entity, we may incorporate your company in Greece or other jurisdiction, and introduce you to several banks in order to open a bank account. We work primarily with banks that allow for remotely opened accounts to ensure that you are ready to make the investment and apply for the visa as soon as possible.
Once the investment is made, we will send you the application forms and provide assistance to complete the questionnaires, translate and authenticate documents. If required, we can file the application on your behalf, so you won’t need to come to the country for it.
Once your application is approved, you may apply for your residency card. The whole process takes within 3 months.
For further information on Greece residency by investment and detailed procedures, contact us for a free private consultation.