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