Frequently Asked Questions

Greece is a Schengen country. Greek immigrants can travel freely in 26 Schengen member states in Europe.

From an investment perspective, the current Greek real estate market has the advantage of "two lows". One is that the euro exchange rate is at a historical low, and the other is that Greek house prices are at a historical low. As the Greek economy picks up and housing prices climb, this investment will achieve two-way profitability.

Generally lower than other European countries, the cost of living is not high. The average monthly consumption of a family of three is about 500 euros.

  1. Low investment: only need to buy more than 250,000 euros of real estate.
  2. Short period: the trial speed is fast, and the permanent residence can be obtained in 3-5 months.
  3. No immigration supervision: no residence requirements.
  4. Simple requirements: no age, education, language requirements, no need to provide no criminal proof, health certificate and property source certificate.
  5. One of the members of the EU Schengen countries: 26 Schengen countries can travel freely.
  6. Social welfare: If one person applies, the whole family can enjoy basic local welfare.
  7. Property rights: Real estate and land have permanent property rights, and rental income is stable.
  8. Low taxes, low consumption, no double taxation, and the lowest consumption level in Europe.
  1. At least 18 years old, there is no upper age requirement, no education and language requirements.
  2. Purchase real estate of more than 250,000 Euros in Greece.
  3. Have a record of entering Greece at least once.

Applicants do not need to show proof of source of funds, no language, business background, academic background requirements.

In July 2014, Greece canceled the medical examination requirements, and physical health is no longer a formal application requirement.

  1. Spouse
  2. Children under 21 years old
  3. Buyer’s and spouse’s parents

Residence application can bring children under 21 years old. If you are 21 years old within the validity period of residence, you can get a separate residence renewal every year until you are 24 years old. If a parent sells a property worth more than 25 Euros to an adult child, the child can obtain permanent residence as an investor, and the parent can obtain permanent residence as a family member.

In Greece, there is a one-stop fast track for residence permits. Generally, a temporary residence permit can be obtained within 2 weeks after a house purchase, and a formal residence permit can be obtained within 2 months.

There is no immigration supervisor and there is no need to live in Greece.

Whether you own one or more properties, you are entitled to the right of abode, provided that the total value is greater than or equal to 250,000 Euros.

No matter what type of real estate you buy, including: residential, shops, office buildings, farmland, factory buildings, warehouses or residential construction land, etc. As long as the total value is not less than 250,000 Euros, you can apply for permanent residence.

An apartment of 80-100 square meters can be bought in the center of Athens for 250,000 euros (this does not include the area of the balcony, garden, storage room, garage, etc.). Apartments of 60-70 square meters can be bought in the wealthy areas of southern or northern Athens.

  1. Select or visit real estate in Greece remotely.
  2. Sign a letter of intent to purchase a house and pay a deposit.
  3. Meet with a lawyer to authorize and open a personal tax number and bank account.
  4. Pay the full amount after returning home.
  5. Pay the full amount after returning home.
  6. Submit immigration information.
  7. Get a residence permit within 2 months.

List of House Purchase Costs in Greece

Expense Item Receiving Unit Amount (€)
Purchase Value Landlord 250.000
Cadastral Value 120.000
Legal fee Lawyer 1.2 % of the contract price of the property + 24 % VAT
Price on application (POA) Notary/ Interpreter 200
Tax of transaction Property transfer tax 3 % of the cadastral value of the property
Municipal Tax 3 % of tax of transaction
Notary fee Notary 1.2% of the cadastral value of the property + 24% VAT
(Varies according to house price) + 500 (contract)
Land registry fee Land Registry 0.5 % of the cadastral price of the property + 24% VAT + 80
Real Estate Agency fee Real Estate Agency 2 % of the contract price of the property + 24 % VAT

Fees for Residence in Greece

Expense Item Receiving Unit Amount (€)
Legal fee Lawyer 500 + 24 % VAT (per person)
Application fee Greek Immigration Service 2016 for main applicant, 166 for family members
Medical Insurance Insurance Company 120 – 300 (per person depending on the age)

Costs of Holding a Property in Greece

Item Amount (€) When
Single property tax (ENFIA) For a purchase > 250.000, 300 - 800 Annually
Common Fees 30 - 50 Monthly

  1. Application form
  2. Copy of a valid passport
  3. Documents certifying entry into Greece
  4. Three (3) recent color photos, specifications according to domestic passport photo requirements
  5. Medical insurance
  6. Real estate transfer contract and real estate registration certificate
  1. Application form
  2. Copy of a valid passport
  3. Documents certifying entry into Greece
  4. Three (3) recent color photos, specifications according to domestic passport photo requirements
  5. Medical insurance
  6. Real estate transfer contract and real estate registration certificate
  7. Proof of family relationship that proves the relationship between the buyer and the family (Dual certification required).

Once the policy is changed, the old law will be implemented, which will not affect the validity of its documents, and it has no traceability.

You cannot work as an employee, but you can set up a company and manage the company as a shareholder of the company.

Children can apply for admission to a well-known local international school, the tuition fee is between 8000 euros. If you choose a public school, everything from nurseries to doctors is free.

You can use real estate as mortgage, just like the Greeks.

According to the submitted draft law "Approval of Immigration and Social Integration Code (Ratification of the Migration and Social Integration Code), in one of the provisions, citizens of third countries that own Greek real estate will have the right to rent real estate under their name.

The housing rental income tax is stepped, with 12,000 euros as the dividing line. If the annual rental income is less than 12,000 euros, 11% income tax will be paid. For more than 12,000 euros, the first 12,000 euros pays 11% of the income tax, that is, 1320 euros, and the excess is 33%.

  1. The applicant must be at least 18 years old.
  2. The applicant has not been sentenced to imprisonment for more than six months in the first 10 years of applying for naturalization.
  3. Applicants must not have records of violations of immigration laws or deportation.
  4. Applicants must have lived in Greece for more than 7 years before applying for naturalization.
  5. Applicants must hold a 5-year long-term residence in Greece.
  6. The applicant must be fluent in Greek.
  7. Applicants must integrate into the Greek environment in terms of economic and social life. Specific considerations include:
    • Understand Greek history.
    • Engage in certain professional or economic activities and participate in charitable and social activities with Greek citizens whenever possible.
    • Have any family relationship with Greek citizens.
    • Performing taxpayer obligations in Greece.
    • Own real estate in Greece.
  8. Applicants can actively participate in the political life of Greece. Specific considerations include:
    • Familiar with the Greek Constitution.
    • Understand the political history of modern Greece.
    • Participating in Greek social groups, political associations, etc. with Greek citizens is very important.
  1. After obtaining the official residence permit, residence will no longer be affected by any policy changes.
  2. The Greek law clearly states that the condition for the renewal of residence permit is to keep the property, which is like the replacement of domestic ID cards and will not be affected by policy changes.

The medical system in Greece is well developed. Investors who obtain a residence permit in Greece through house-buying immigrants can enjoy free public medical services like local citizens. In addition, if customers need a higher level of medical services, they can choose private hospitals, or they can purchase medical insurance in private hospitals. The medical insurance price is not high, only a few hundred euros per year, which can cover the costs of common diseases, surgery and hospitalization. For resident customers, there is also a choice of insurance with a higher sum assured and covering the entire EU.