5 Year Renewable Permit of Residence
Greece has become an important gateway for investments in Europe by offering potential investors the possibility to obtain a 5 (five) year renewable permit of residence. The Prime Minister of Greece said that Greece is entering into a new era and that they are determined to turn the crisis into an opportunity for a new start.
The holders of this permit have the right to travel freely within the 26 countries, which are member states to the Schengen Agreement (including Germany, France, Greece, Italy, Switzerland, Belgium, Netherlands etc).
The recent Law 4146/2013 voted by the Greek Parliament on the 18 April 2013, gives the opportunity to people who intend to do business in Europe, and/or to persons who like to move from their country of origin and reside in Greece, to apply for the 5 (five) year renewable permit of residence.
HOW YOU CAN OBTAIN THE 5 YEAR PERMIT OF RESIDENCE
According to the new legislation in order to obtain the 5 (five) year renewable permit of residence, an investor should acquire, personally or through a legal entity (onshore or offshore), a real estate in any part of Greece having a minimum value EURO 250.000 (Two Hundred and Fifty thousand Euros).
The only limitation that the Investor will have, by obtaining the 5 (five) year renewable permit of residence, is that holders of such permit will not be able to be employed in Greece and as long as they live in Greece the duration of their stay will not count for the purpose of obtaining Greek Citizenship.
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