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Greece/June 2013  

A new provision, article 36A in relation to granting of residence permits to non-EU citizens in Greece, has been added to the Law 3386/2005 on “Entrance accommodation and social integration of non-EU citizens in Greece”.

Under the new provisions of the law, a residence permit will be granted for five years for non-EU citizens upon acquiring a visa that are issued by the consulate in the country of origin of the non-EU citizen, as long as:

(A) They hold personally, or through a legal entity, shares, that are entirely related to a real estate situated in Greece worth at least € 250,000.00; or

(B) They have a contract, of at least ten years  according to the Law 1652/1986 as applicable, where its value is at least €250,000.00; or

(C) A 10-year lease of hotel accommodations or furnished tourist accommodation (houses) in tourist accommodation complexes according to (A’180) of Law 4002/2011, with a value of at least €250,000.00

The permit may be renewed for another five years if he/she continues to hold the property acquired or the contracts mentioned above are still active.

The new regulation includes also family members of non-EU citizens. Specifically, a residence permit may be granted to an individual’s family members, upon request, which will be renewed or terminated simultaneously with the sponsor’s residence permit.

The new provision for granting of a residence permit does not establish the right to access to any form of work, and also the relevant period (five years) will not be counted for granting citizenship.

Additional information:

In order to obtain a residence permit, a passport or other travel document recognised by international conventions is mandatory. The residence permit is issued by the decision of the General Secretary of the Region.

Conclusion:

The new provisions are aimed to attract and provide facilities to foreign investors, to support the Greek economy.

athens@eurofast.eu
Tel. +30 210 825 7722
www.eurofast.eu