The law for permanent residency permit and citizenship possibility

The Law 4251/2014 “Permanent residency permit for investors” amended by the law 4332/2015 (valid from July 2015) offers permanent residency permit to non-EU citizens and their family members, who buy property in Greece, the value of which exceeds €250,000.

The above described residency permit can be renewed every five years indefinitely, as long as the real estate property remains entirely at the ownership of the main applicant. Periods of absence from the country do not constitute reason for refusal.

The property owner may be accompanied by the members of his/her family. Family members may be granted a personal residence permit that is renewed and/or expires concurrently with the residence permit of the investor (property owner).
Family members are : spouse, children up to 21 years of age, applicant’s parents, spouse’s parents.

After seven years of continuous residency the investors may apply for Greek citizenship.

The Law 4251/2014 in bullets :

Minimum investment amount 250,000 Euros per family, the cheapest program in Europe.
The Investors have the legal right to apply for both permanent residence and citizenship.
The investor may offer residency all family members : spouse, children (up to 21 years of age), parents and spouse’s parents.
The investor will be able to sell his/her property to another foreign citizen, and transfer the residency permit together with the property. No minimum time for ownership before transfer.
The investor may establish his/her own business in Greece.
There is no need for the investor or the family members to stay in Greece to maintain the residency right.
The residency permit holders can travel freely to all Schengen countries. They can also travel directly from their country of origin without the need to come to Greece first.