As part of its plan to entice foreign investors, the Ministry of the Interior will grant residence permits to “strategic” investors and their families. This measure also includes circumstances where a residence permit is necessary for an investment to go through.
The procedure will be faster for non-EU nationals who purchase real estate over 250,000 euros in value, or who rent property for at least 10 years. The Deputy Minister of the Interior Charalambos Athanasiou issued a decree which defines the necessary documentation needed to issue or to renew a residence permit.
The documentation needed, aside from proving the legitimate property transaction, is to confirm that the sale or rental meets the conditions set out in the relevant development legislation. A contract lawyer and the land register must also confirm the transaction.
