General Information for obtaining the residence permit:
1) By decision of the Secretary General of the Decentralized Administration, a residence permit for five years, subject to renewal, is granted in two months, to a third country national who:
2) The minimum value of real estate property, as well as the contractual consideration of hotel accommodation or tourist residence leases of this Article, is determined at two hundred and fifty thousand euro (€250,000) and must have been paid in full upon the signing of the contract.
“The consideration is paid by crossed bank cheque or by deposit by bank transfer to the beneficiary’s account, which is held in a banking institution of Greece or in a credit institution under the supervision of the Bank of Greece”
By joint decision of the Ministers of Interior and Finance, the value of the above real estate property may be adjusted and shall result from the property value stated in the contracts or from the lease agreements.
3) Tο third country nationals, real estate property owners, the possibility of leasing that property is granted.
4) The above third-country national may be accompanied by the members of his family to whom, at their request, an individual residence permit is issued, that expires together with the residence permit of the sponsor.
Family members shall mean:
5) The above permit may be renewed for an equal duration, each time, provided that the real estate property remains in the ownership and possession of the third-country national or the agreements of paragraph 1 of this remain in force and all other requirements, provided by law, are fulfilled. Periods of absence from the country shall not disrupt the renewal of the residence permit.
“The resale of the real estate property during the period of validity of the residence permit, to another third-country national shall provide the right to granting a residence permit to the new buyer with simultaneous withdrawal of the vendor’s residence permit.”